Let’s Talk Real Estate!

4 Reasons to See Open Houses this Weekend - Maybe One of Ours!

Yes, I know it's a very busy holiday weekend, regardless of your religious affiliation. But this is the height of the Spring market -- homes that are in good condition and priced right are selling in a matter of days, with multiple offers.

Low interest rates, lack of inventory, and an improving economy have all helped turn the market around, but four big financial reasons should be pushing you out the door to see what's available:

    1) Interest rates are increasing. That means housing will cost more, even if prices stay low. Waiting for the market to "bottom out" isn't making as much sense as it did just a few months ago.

    2) The 30 year mortgage may be on its last legs. The government's role in supporting home ownership is changing, with the possible elimination of Fannie Mae and Freddie Mac, and a guaranteed 30 year rate may soon be a thing of the past.

    3) Qualifying for a mortgage is going to get tougher. Minimum credit scores of 690, 20% down payments, increasingly conservative debt ratios -- these are all proposed changes to requirements for a qualified residential mortgage.

    4) Rents are going up. As the supply of available rentals decreases, and demand for them increases, rental costs are expected to go up accordingly.

So pack your gang into the car and take a look at some of the fine homes open this weekend. We have two Open Houses on Saturday - 211 S. Lee Street in Falls Church City and 306 Commerce Street in Old Town Alexandria.

And on Sunday, you could stop in at 2748 S. Buchanan Street or 4839 Little Falls Road, both in Arlington, or 1824 Westmoreland Street in McLean. We even have a listing at 427 Lincoln Avenue in Falls Church City that's open Sunday. Follow the links for more photos and information.

Enjoy your holiday, and then get out there and see what the Spring real estate market has to offer you. It's a great time to buy!

More FREE Seminars for April and May!

Our series of FREE seminars "Let's Talk Tuesdays!" continues to draw people into the  office, so we're keeping them going with some new topics and the repeat of some popular ones. Every Tuesday evening from 7-8pm we offer real estate related seminars, with time for questions afterward. You can sign up online or call 703-536-7001 to reserve your place.

• April 5 - First Time Homebuyer
• April 12 - Home Inspections - common issues
• April 19 - Empty Nester
• April 26 - Growing Pains - expand or build?
• May 3 - Staging your Home to Sell
• May 10 - Home Mortgage update (Frank/Dodd bill implementation)
• May 17 - Homeowner's Insurance - information
• May 24 - Seniors Housing Choices
• May 31 - Estate Planning

Hope to see you here this Spring! And if there's a topic you'd like to see us include in the future, please suggest it. We're always open to your ideas.

 

 

 

 

Thinking of Selling? Here's Why You Should Do it Now!

Normally, the best time of year to put your home on the market is Spring, once the weather has stabilized and things start to bloom. But this year, for a number of reasons, you should try to get a jump on the market.

Interest rates, which have been historically low, are starting to move up. This will help move buyers forward, but quickly will limit what they can afford to buy.

Although prices may still be soft, this can work for you, especially if you're planning to move up. That home you dream about will never be more affordable than it is right now.

Buyers are out EARLY. With the economy showing signs of life, people who have been sitting on the fence are out looking at open houses and planning to buy. Their purchasing power right now is HIGH...as interest rates go up, that power will go down.

Inventory is only going to increase. Getting your home on the market sooner rather than later will help you avoid additional competition.

The foreclosure mess is still very much with us, but those homes haven't been feeding into the market recently because of the robosigning disclosures. Eventually, those foreclosed homes will be released, and their prices will be discounted (40% on the average). Beating these homes to the market will only help your bottom line.

So if you've been toying with the idea of selling this year, it's time to make up your mind and get that FOR SALE sign in your yard. And we'd love to see it hanging from a Fall Properties sign!

 

Will You Buy a Home in 2011?

After the erratic market we've had in real estate these last few years, there's a lot of pent-up demand for housing. Will 2011 be the year when buyers get off the fence? If you're one of those hesitating, here are some things to consider:

Why do you want to buy a home? The main reasons have little to do with finances. We buy our homes to have a good place to raise our children, a safe place for our families to live; to have more space, and control of that space. There is talk of 2011 being the year a house again becomes a home (as opposed to a short-term investment). If you do buy this year, be sure that you are buying a home that you can live in comfortably for awhile.

How long is awhile? At least until you can make some money when you sell -- experts are projecting a cumulative appreciation of over 10% by 2015 for homes purchased in 2010. And prices are still down, so buying before they start back up makes a lot of sense.

Have home prices stabilized? In most of the country, they may slip a little bit more in 2011. But interest rates are starting to creep up, so you need to keep your cost (monthly payment) in mind when you are crunching numbers. Waiting for the rock bottom price won't do you any good if the interest rate came up while you waited. That teeny percentage stretched out over the life of your mortgage can cost you more in the end.

So go ahead and look. Your home is one of the largest investments you will make, and whether you're making your first purchase, trading up for a more substantial home, or downsizing, 2011 could be a great year in real estate. Sit down at your computer -- over 80% of home searches begin on the internet. It's the perfect activity for ffffffffreezing February!

Free Seminars at Fall Properties

Our series of free seminars, "Let's Talk Tuesdays!" is back in full swing -- on Tuesday evenings from 7-8pm, we're presenting a great lineup of seminar topics. You can sign up on our website, or by calling Karen at 703-536-7001. There's always time for your questions, so come in and talk to a professional about your concerns. Here is the schedule through the end of March:

Jan. 25 - Tax Deferred Exchange - What you should know about buying and selling investment property

Feb. 1 - Home Inspections - We will explore common problems to look out for

Feb. 8 - Rent vs Buy - We will provide budget tips for first time homebuyers

Feb 15 - Build, Remodel or Move - We will discuss three options facing homeowners looking to expand

Feb. 22 - Empty Nester - What options you might consider after the kids move out

Mar. 1 - Home Staging and Decluttering - Great tips before you start your Spring cleaning

Mar. 8 - Curb Appeal - We will discuss home exterior tips and landscaping

Mar. 15 - Buying Investment Property - Tax tips and key considerations you should be aware of

Mar. 22 - Inheriting Real Estate and Estate Planning - Local professionals will present these topics

Mar. 29 - How To Choose a Realtor - What makes some Realtors better than others

Join us at our offices at 212-A N. West Street in the City of Falls Church. 

Start Your Home Ownership with this terrific Condo at Fairlington Mews

  

On Sunday,8/22, take a drive to South Fairlington and come to an Open House at our new listing - 4656 S. 34th Street, #B1, in Arlington 22206. This is a top floor 1bedroom+loft, 1bath unit with soaring cathedral ceiling with skylight and ceiling fan. It draws your eye up the spiral staircase to the enclosed loft, featuring a custom garden-style window--what a great room!

This home features a cheerful bright kitchen with recessed lighting, separate dining room, laundry, spacious bedroom, and storage space in the attic. The refinished hardwood floors, replacement windows, and decorative moldings all speak to pride of home ownership. With interest rates unbelieveably low, you should really think about buying. This home is priced at $320,000, and it will be a terrific beginning for someone -- why not you?

Stop in at the Open House from 1-4pm!

We've Got the 3 P's this week - Pristine, Polished, Penthouse!

Michelle Sagatov has a gorgeous new listing at 4069 S. Four Mile Run Drive, #402, Arlington, VA 22204. It's a 2 bedroom 2 bath top floor condo at the West Village of Shirlington, three years young with 1135 sqft of living space. And it's walking distance to the shops and restaurants of Shirlington!

This terrific home features an eat-in kitchen with new maple cabinets, granite counters, and stainless steel appliances, and an island that flanks the formal dining room. The grand living room has French doors that open to a year round Sunroom, and the master bedroom comes with a private bath and custom closet with built-ins. Rich hardwood floors, stacked washer and dryer, custom blinds...and the community amenities include a large pool, state of the art Gym, modern Party room, free shuttle bus to Metro, and off street parking.

Located near I-395, Route 50 and Route 7, only minutes to DC, and open this Sunday, May 2, from 1-4pm.

Would You Like to Live in Paradise? Check Out this new listing

This 4 bedroom 2 bath rambler sits on a spectacular half acre lot at 7232 Tod Street in Falls Church. Drop by the Open House on Sunday, April 25th, from 1-4, where you'll find majestic poplar trees, flowering dogwoods, native wildflowers, ground cover and hostas helping to set the mood.

The home welcomes you in through a rich leaded glass front door, and boasts some terrific upgrades - quality replacement windows throughout, renovated kitchen with granite counters and KitchenAid appliances, custom main level bath, and a new (in 2008) HVAC system. With easy one-level living, large MBR suite, gas fireplace, and nice upper level suite, the home is a gem by itself.

But add the privacy and natural beauty of this yard and that's where the "Paradise" kicks in! A custom waterfall and pond attract all manner of birds, your patio has a built in grill with a dedicated gas line, and there are two storage sheds - one with your own potting porch. Winding walking paths navigate the fenced back yard, and lead out to the hot tub. 

Come see what paradise inside the beltway can look like.

Another Weekend, A New Listing! Plus We're Moving! Yikes!

First, let me tell you about this new listing at 7039 Williamsburg Blvd., Arlington, 22213...it's a spacious 5 bedroom 3 bath rambler with a private front yard that looks out from a lovely landscaped hill. There's a big eat-in kitchen, hardwood floors, 2 wood burning fireplaces, and replacement windows throughout. Room sizes are generous, there's plenty of storage space in the attic, and there's a 2BR 1BA suite on the lower level that would be perfect for guests or a teenager. Schools are Tuckahoe ES, Williamsburg MS, and Yorktown HS. Open House on Sunday, April 18th, from 1-4pm.

Over the weekend and through Monday, we'll be moving our offices to 212-A N. West Street in the City of Falls Church. If you drive along West Street between Arlington and Falls Church, you may see our new sign. Stop in and say hello--we want to get to know all of our new neighbors.

It's Spring, and New Listings are Bustin' Out All Over!

Here at Fall Properties, the business is coming fast and furious now. Each of our new listings have gone under contract within a week, and I have two new properties to share with you today.

The first is a darling rambler at 2604 N. Sycamore Street in Arlington (22207). This home is full of opportunities: 3 bedrooms and 1 bath, 1100sqft of living space, all on one level. Plenty of room to expand later, or perfect if you're downsizing. Plus it's only 1/2 mile to the East Falls Church Metro station. Replacement windows throughout, hardwood floors, wood burning fireplace, full attic, and a detached all brick garage, and the schools are Tuckahoe/Williamsburg/Yorktown -- that's a whole lot of swag for only $499,000. It's open on Sunday, April 11, from 1-4pm.

We also have a new listing in Fairlington Meadows, at 3422 S. Stafford Street, #B-1. This is a rarely available top floor 1BR 1BA Braddock model, with over $18K worth of renovations performed in the last 6 years: new thermopane windows throughout, recessed lighting, upgraded bath, and new custom blinds that convey. Again, this home is open on Sunday, April 11th, from 1-4, and it's priced to sell at $267,500. 

Hope your weekend is delightful...we'll have some more homes for you to look at next week.