In today's market selling your house may leave you feeling vulnerable.  Not only is your house a huge financial asset, but you have strangers peering in your closets, appraisers judging your home's value and inspectors noting its flaws. A low offer in the midst of all of this can seem like a personal affront. However, no matter how well you have prepared your house or how certain you are that it's priced correctly; receiving a low offer is a possibility. Prepare yourself ahead of time to not take it personally. Instead of getting angry, do one of two things: Reject the offer, or counter it and move on.

If you do decide to counter the offer, try to get as much information as you can about why the offer came in at the price it did. Take a good look at the condition of your property. How does it REALLY look? It is amazing how quickly a buyer will undervalue your home based on outdated carpet, tile, light fixtures, bathrooms and kitchens. Remember that cost and value are not synonymous. If you have over personalized your home you might love it but a buyer might be looking how much it will cost to undo all of the paint and wallpaper.

If your home has been on the market for some time and you have not re-evaluated your price then the offer may be closer than you think. Have your agent take a good look at the most recent comparable properties and see if there have been similar properties that have sold at a lower price. You may be surprised to learn that the home one street over may have sold recently at significantly less than you think. When this happens it has an immediate impact of the value of your home.

Look at all of the contingencies in the contract. Make sure that you are considering all of the factors in the offer. Don't focus just on price. Make sure that you examine all of the other portions of the contract as well. Sometimes price is not the only factor that makes a contract worth considering.

If you decide that you just can't live with what is on the table then by all means move on. Make sure you and your agent understand your reasons for refusing the offer so that there are no lingering issues when the next offer arrives.

To sell your home in Northern Virginia you have to find the right balance between price and condition.  Many buyers think that the "bargain" house is the one with the big foreclosure sign in the front yard.  But if they dig a little deeper they may find the gem in the neighborhood may actually be the home that is owned by an individual who has to move for reasons that have nothing to do with their mortgage payments.

When a savvy buyer begins to balance the costs, both real and hidden, of a foreclosure they can often be shocked to learn that a house just a few doors down that is priced well is a better deal in the long run.  Besides just the dollar factors associated with repairs there is the peace of mind factor that comes with something as simple as the ability to conduct a real home inspection.


So what does this mean for most sellers?  It is a fact that in today's market you must price your home right the moment that you put it on the market.  You don't have the option to overprice your home and hope that a buyer will overpay.  Certainly if your home is in top condition then you would expect to get more than the foreclosure down the street, however does that property just need cosmetic work to make it the same as yours or does it need a total overhaul?  If the foreclosure only needs cosmetic work and is priced right then you can't price yours $20,000 more and hope that it will sell.

The market in Northern Virginia is tough.   Homes of all types are selling and many are selling in a reasonable period of time.  Don't be fooled into to thinking that your home is worth more than it is.  Some buyers will pay more for the peace of mind that comes from buying a home where they can talk to the owner.  But they won't overpay.  Appraisers won't overvalue and lenders won't lend more than today's market value.

Find the right balance for your home and the sold sign will follow. 

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As an Associate Broker with RE/MAX Allegiance in Northern Virginia and native of the area I can assist you whether you are buying, selling or renting a home anywhere in Northern Virginia. For more information about the area or my services you can check VaRealEstateTalk or my Northern Virginia website.

Search all homes available in the Northern Virginia area.

Yesterday's blog on Stupid Pet Tricks & Real Estate Showings ended with the mention of a naked guy in a shower.  Of course he was naked, he was in the shower for heavens sake but as Paul Harvey would say....now for the rest of the story. 

Another agent and decided to take a little time to preview a few homes in a "nicer" neighborhood in Northern Virginia.   Both of us were intrigued by a listing in Fairfax Station and when we ran the MLS information found the property listed as vacant. 

Vacant properties are terrific when you don't want to be on a time schedule and you can say what you want and figure no one will be following you around asking you a million questions.  Nothing seemed amiss when we pull up to the property.  No cars or anything that would indicate that someone was around.  The lockbox was on the door and the key was securely inside.  Figuring the coast was clear, especially since the MLS listing said VACANT we opened the door.





Now the layout of this home was a bit odd because as soon as we came through the foyer we could see him straight ahead.   Naked guy in the shower!  There wasn't a shower curtain so he was in plain view.  We shrieked, he shrieked, think Drew Barrymore encountering ET and we headed for the door.

Being the good agent that I am I stopped to lock the door and put the key back in the lockbox.  As we got into our car he comes running out the front door, thankful with a towel around his waist trying to get us to stop.  We hop in the car and lock the doors as he is trying to explain to us why he was there.  I didn't really care at that point and just put the car in reverse and haul out of there.  As we are driving away my associate is on the phone to the listing agent to let them know about naked guy.

The next day a rather contrite and apologetic call arrives from the owner of the property.  He had hired someone to do some repair work in the property and they had apparently decided to clean up after they were done.  After it was all over and we realized that there wasn't a pervert just randomly using showers in the neighborhood we were able to have a great laugh over the entire incident.

Once again it just goes to show that in real estate there are no ordinary days.  Now about the couple........

It seemed as if it would be an easy showing.  The instructions said to call the owner first so they could crate the dog.   We had a pleasant conversation, gave them a timeframe and they said they would vacate the house so we could have it to ourselves.  You have to love sellers who understand the process. 

We arrive at our appointed time and just to make sure the owners are gone I knock on the door.  From deep inside the house I hear the dog bark followed by a "shut up".  Figuring that the owners hadn't left yet I wait a bit and then knock again.  The dog barks and the same voice responsds "shut up."  Okay this is annoying why aren't they answering the door?

So cautiously I open the door and say "hello".  A voice from the back of the house says "hello" but no one appears.  Alright I guess they aren't leaving and we are going to head on in.  As we pass through the foyer keeping an eye out for the owners the dog barks again and when we hear the little voice say "shut up" we realize that it sounds more like a child than an adult.  Now I'm worried that the parents have gone and left a child behind.

As we round the corner to the dining room we find our little voice.  It is a PARROT!  Sure enough the dog barks again and looking us right in the eye the parrot says "shut up."  Go figure.  I guess it is a good thing the owners don't swear like sailors! 

Just proves you never know what you will find when you head out to show a house. 

Now about that naked guy in the shower of a vacant house?????

You have decided that you need to sell your Northern Virginia home and are wondering how can you make your home standout from all of the other properties listed for sale. 

If you haven't read the first two parts of "If You List It They Will Come" you should start there:

If You List It They Will Come-Getting Your Home Ready
If You List It They Will Come-Pricing Your Home to Sell


If the Realtor® you are talking to suggests that all you need to do to get your home SOLD is list it in the MLS and buyers will come running to your house, then once again you need to show them the door.

Today's buyer is internet savvy!  It doesn't matter what source you read they all tell you the same thing.  Over 80% of today's home buyers search for a home on the internet.  The variety of sites and tools available make it easy for a buyer to browse from the comfort of their own home, on their own time and at their own pace.  Many buyers spend months on-line before they ever contact and agent to represent them.

So how do the Realtors® you are talking to get your home in front of the most buyers?  First and foremost you need to make sure they have an active and current website that has your listing available.  Second you need to find out how well linked is their website to other websites that showcase listings.  Links to sites that are not about showing your home on line are of little value to you.  You want someone who is surfing the internet to find your home on as many real estate listing sites as possible.

Does  the Realtor® you are considering work for company that has a presence outside of Northern Virginia?  Not everyone looking for a new home already lives in the area.  Making sure that your home can be found on national websites such as RE/MAX.com and Realtor.com are critical to making sure you home is seen by buyers no matter where they currently live. 

Will your listing have its own URL and will that be featured on a sign rider in front of your home making it easy to find on the internet?  
(click sign to go to listing) 

Will the agent upload multiple good quality photos of your home as soon as it is active in the MLS? 

How often are the websites and MLS updated to keep your home in front of buyers?

Does the agent maintain one or more real estate related blogs where they write about your home?

It goes without saying that your home should have color brochures available on day one and professional signage in the front yard.  Each home has individual needs and depending on your home their may be other options such as coverage in the local press, featured home status in Friday Home Guides and more.  Make sure that the company that the agent works for spends significant money on national advertising to bring more people to their website and more leads to their agents.

So as you consider all of your options for picking a Realtor® to list your home make sure that the internet is a large part of their strategy.   Today's buyer is online and your home should be too.

Be like one of the good citizens of the great state of Missouri and say SHOW ME!

If you are getting ready to list your home this year give me a call.  I'll be glad to show you all of the ways I work to get your home in front of as many internet savvy buyers as possible.  With a personalized marketing plan for your home and the Power of RE/MAX we can get your home SOLD!

Stay tuned for Part IV.  My Home is Listed Now What?

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As an Associate Broker with RE/MAX Allegiance in Northern Virginia and native of the area I can assist you whether you are buying, selling or renting a home anywhere in Northern Virginia. For more information about the area or my services you can check VaRealEstateTalk or my Northern Virginia website.

Search all homes available in the Northern Virginia area.

Buyers in the Northern Virginia market are looking for a good deal.  They won't buy a house that is overpriced no matter how you try to entice them. Forget the free lease on a Mercedes or cruise to the Bahamas those aren't going to bring any offers to the table.  Price your home right and offer the right incentives (closing cost assistance) and you may be on the short list.

Just as in Part I of If You List It They Will Come don't be swayed by the agent who comes in the door and tells you the highest listing price for your home and asks you to immediately sign a listing agreement.  Every agent you interview has to be able to back up what they say with detailed information.  Check it carefully and make sure they can justify the price they are suggesting.  If not show them the door!

So how do you determine the right price?  Forget the crystal ball.  The most accurate way is by having a professional appraisal of your property done.  Most sellers don't go to the expensive of having an appraisal done on the property when they first put it on the market instead they rely on a Realtor® to help them come up with the correct price.  In a market where prices have declined you should start with the most recent sales in your neighborhood and then work back only as far as you need to find a baseline price.

Why do I say baseline price?  It has nothing to do with the price you will list your home for but instead a baseline for you and your Realtor to begin making the necessary adjustments to come up with the list price of your home.

Did the last sale in your neighborhood have granite counters and you don't?  Adjust your price downward.

Does your home have a finished walk-out basement and the last sale didn't?  Adjust your price upwards.

 

Do you only have three bedrooms above ground and the neighbor has four?  Adjust your price downward.  But wait I have a legal bedroom in the basement doesn't that count?  Yes, but not the same value in an appraisal as the one above grade.

Now you and your agent need to take a look at what is currently for sale.  How long has it been on the market, have they lowered their price since listed, what are the features of the current listings as compared to yours?  A good Realtor® will have already scoped out the competition before they came to your house and I always recommend to my potential sellers that we make a quick tour of a few of the listings to talk about the pros and cons.

Armed with all of this information and a few intangibles that your Realtor® can talk to you about you can set your listing price.  The first time a buyer walks in the door is when you are going to capture them for a return visit and a future offer.  The first 10 days your home is on the market are the most critical.  If your home is overpriced buyers and their agents will know it and pass you by.  Price it to low and the will also wonder what the problem is.  Price is right and they will come! 

Stay Tuned for Part III-Marketing Your Home For All It's Worth


Related Posts on Selling Your Nothern Virginia Home
The Price is Right
Pricing Your Home to Sell in Today's Market
Help my House Isn't Selling
Will This Effect the Resale Value of My Home?

_______________________________________________________________________________________________________

As an Associate Broker with RE/MAX Allegiance in Northern Virginia and native of the area I can assist you whether you are buying, selling or renting a home anywhere in Northern Virginia. For more information about the area or my services you can check VaRealEstateTalk or my Northern Virginia website.

Search all homes available in the Northern Virginia area.

A few years ago a leaking hot water heater took a chunk out of my coveted book collection.  Then another move made me realize that hauling around boxes of books was not very practical and added a lot to the moving bill.  So after years of avoiding the public library it seemed like a good idea to check out how they might have changed.  In the Northern Virginia area we are lucky to have a huge selection of libraries to choose from including a new state of the art library that opened recently in Shirlington.

As soon as you walk in the door you realize this is not a place were you are going to find rows of those pesky card catalogs but instead a sleek state of the art computerized facility. Offering 26 PC stations, total wireless access if you bring your own laptop, a 75 person meeting room with Smart Board and check out with a library card with built in RFD chip.  There are comfortable chairs scattered throughout the library and you are allowed to bring in a cup of java!

This $225 million dollar facility replaces the old "temporary" library which was flooded in 2006.  The building was built following "green" building principles including recycled-content carpeting, low VOC paints, a reflective roof and energy efficient systems.  Arlington County is in the process of applying for LEED certification from the Green Building Council.   Originally conceived as a one story building the project grew when the Signature Theater learned that it would need a new home as well.  Known for taking risks with adaptations of overlooked theater products, the Signature Theater has won acclaim with 54 Helen Hayes Awards over the last 20 years.

With community art on display, an LED architectural light show which can you can see as soon as you enter Shirlington Village and a mosaic fountain designed by Martha Jackson-Jarvis a local sculpter you will see how this library is one step above ordinary.

 So if you have been avoiding the library because of the fear of the dreaded SHHHHH then you need to take another look at what is happening in your local library.  The new one in Shirlington gives you a great opportunity to avoid heavy lifting the next time you need to move.

Tucked in the trees just off of Old Bridge Road in Prince William County is the quiet community of Westridge. Coming down the main tree lined drive you come upon the large community center, pond and fountain and you know you are in a neighborhood that makes you feel welcome.

Many times the community of Westridge is lumped together with its neighbor Lake Ridge but you will find difference between the two. Westridge has its own community center, its home owners association and is on the "other side" of Old Bridge Road Road. Westridge has a number of different home styles from condo townhouses, townhouses and detached homes. Are you looking for a Georgian colonial, a wrap around porch or perhaps something a bit more modern? Then you will be able to find it in Westridge.

Want to get some exercise? Numerous walking paths meander through the trees, over the bridges at the lake and pass by the community center which offers a huge swimming pool for summer fun and a big play ground for families with children.

Home prices vary based on size and style. Currently there are 6 detached home for sale ranging in price from $474,950 for one of the smaller contemporary models to $859,000 for a 7000 square foot house on just over an acre.

Westridge townhouse prices range from 279,000 to $415,000. Currently there are 22 listed and for first time home buyers or investors there are a few foreclosure properties available which are priced very nicely for this area.

Somerset of Westridge Condo Townhouses range in price $244,900 to 327,000 and have a condo fee of $275 per month.

COMMUNITY PHOTOS

To view current homes available in Westridge

For more information on other local communities

If you have been waiting for an opportunity to buy a South Run-Fairfax Station home for under $1,000,000 then your chance has arrived!

With over 4300 finished square feet on three levels and close to 3/4 of an acre lot this home is big and private.  All the upgrades that you would expect in a Fairfax Station home.  Granite, high ceilings, hardwood floors, private library and so much more.  Don't miss the chance to check it out.

http://matrix.mris.com/Matrix/Public/Email.aspx?ID=19364574698

Give me a call to schedule your private showing.