Loudoun County VA real estate: September 2012

Friday, September 28, 2012

Are Renters On The Rise In Your Community

Remember when you first moved in and loved your neighborhood?

Then the renters started moving in.

Now that the housing slump has put a damper on buying and selling many sub-divisions are becoming rental communities. The result, overgrown lawns, too many teens hanging out in the park and loud parties in the "frat houses" down the street; not to mention some driveways with a dozen cars parked out front and people streaming in and out. Does any of this sound familiar?
Thousands of property owners across the country are now renting out homes they cannot sell. As a result, developments that once were largely owner-occupied are filling up with renters who are less engaged in the community and less concerned about the upkeep.

But let’s be fair; not all homeowners are model neighbors and plenty of renters cut their grass, take in the garbage cans and turn down the music at 9 pm.

It's a good news-bad news situation; renters can bring socio¬economic and racial diversity and a chance for owners to make money, even when times are tough. Some renters may start out as tenants but eventually will become buyers. Now for the flip side; too many renters can depress housing values in a community. You look at most renters as temporary with no long term vested interest in the community which will ultimately mean a swinging door – new faces in and out.

How to protect and preserve your neighborhood

• Many HOA’s require pre-approval by the board before allowing renters to move in. While this can cause problems it does provide another opinion about the people you’re about to allow into your space.

• While tempting, do not sign more than a one-year lease. If there are too many problems during that first year, you can simply choose not to rent to that individual again.

• Discuss, vote on and include language into your HOA bylaws that safeguard your community and keep your community stable.
Rules and guidelines pertaining to renters should be addressed at your annual HOA meeting. Be proactive not reactive. Often times, we wait until the “bleep” has hit the fan when we could have just addressed the situation before it became a problem.
Ask that homeowners update records if they move or rent; you need to know where notices should be sent.

Ask that homeowners provide a copy of any lease to the board so everyone knows how many people are moving into the community – this directly relates to the security of the community.

It all comes down to communication and setting up guidelines to live by.

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia.

I have over 25 years experience in the real estate industry. As a Broker/Owner with Exit Realty Talbot and Company, I bring special tools and solutions that enable me to exceed the expectations of my clientele. If you are considering listing your property in Loudoun County or the nearby areas, ask me about our latest internet marketing systems. I would appreciate the opportunity to earn your business. I am experienced in listing and selling short sales. For information on the short sale process, please visit www.LoudounShortSaleSolutions.com.

My past awards and designations include – 2003 President of the Dulles Association of Realtors, 2003 Dulles Area Assoc Realtor of the Year, Salesperson of the year 2000 Dulles Area Assoc of Realtors, Top Producer awards from both the Dulles Area Association and the Northern Virginia Association of Realtors. I am a member of the Top 5 in Real Estate Network.

I have lived in Loudoun County since 1979. I am married with two grown children and two grandchildren. My son in law is my business partner in real estate. I love to jog in the mornings and spend time relaxing on my Trawler during the summer months.

Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker . I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax, Clarke, Fauquier, Prince William Counties. Our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont. Cell 703.727.9885 Office 703.574.3800

Wednesday, September 26, 2012

The Top 5 Mistakes Sellers Make

There are so many things that need to be done before listing your home for sale. Unfortunately, many sellers are making the same costly mistakes. Mistakes that could have saved them thousands if they had only known "what not to do". Let's talk about the top five mistakes that cost sellers thousands.

1. Do not put your home on the market before it is ready. Make sure that the painting is done, the carpet has been replaced and everything is clean and organized. If you show your home to potential buyers while you are in the middle of renovating, this will lower the perceived value of your home in the minds of your buyers

2. Do not over improve your home versus the norm for your neighborhood - you will not recoup this money . Do not spend money on something that you think your buyers will insist on. Every buyer is different and has different wants and needs. So you will only be throwing your money into the wind.

3. Do not over price your home because of what you "need" to get for it - otherwise it will sit and then become an aged listing in the minds of your potential buyers. Your market should always control the sale price.

4. This one should probably be number one - don't get emotionally involved in the sale of your home. Most sellers have lived in their homes for years and have become quite attached. What you like about the home is not necessarily what your buyers will like about it. So don't get offended if your buyer wants to change something or says something negative about your home. Once you sell it - it is not your home anymore. Think about your new home and all of the potential it has to offer.

5. Don't try to cover up or hide the homes problems. Most states have and require a property disclosure form. You must disclose the homes problems to your potential buyers. If you don't, that does not mean that you cannot be sued for it later on down the line when that problem surfaces for the new owner.

Before listing your home, talk to your realtor about the pitfalls that can occur when selling your home. Your realtor will be able to guide you effortlessly through the entire home selling process and help you to avoid any costly mistakes. So take advantage of your realtors years of knowledge and the next thing you know you will be moved and enjoying your new home!

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia.

Tuesday, September 25, 2012

New Home Or Existing Home?

If you are considering buying a home, then you have probably been pondering the age old question "should I buy a new home or an existing home"? This is a decision that everyone who is looking for a home must make.

There is no right or wrong answer and the best way to determine what is right for you and your family is to list the pros and cons. At this point you may or may not know the pros and cons of each scenario, so here are a few things that will help you make that decision.

Pros of purchasing a new home:

-New home warranty - they are usually around 10 years

-Home has never been lived in

-You can customize your new home

-New everything

-Modern features

Cons of purchasing a new home:

-The landscaping may be non-existent or minimal at best - many times sod is not included

-Upgrades will add more to the price of the home versus buying an existing home that already has them included in the price

-Often the window coverings are not included

-New homes usually have smaller lots

-New homes are usually built on the outskirts of the suburbs

-Usually more expensive than an existing home

-The tax rate could increase significantly as the value of the home will generally increase quite rapidly on a new home. This will result in you having to pay higher yearly taxes that you may or may not be able to afford. This could potentially add hundreds of dollars to your monthly payment each year depending on how much the value of your home increases

Pros of purchasing an existing home:

-Many people prefer an established neighborhood

-Mature landscaping and trees. Grass has already been planted and has matured

-Window coverings are usually already in place

-The homes upgraded features have already been paid for by a previous homeowner

-Any builder defects have already been discovered and handled

-Existing homes generally have larger lots

-An existing home will more than likely be in a more convenient location

-Generally an existing home is less expensive than a new home

-An existing home has a history so you can see how much the property has appreciated over the years. However, this does not guarantee future marketplace performance

-Existing homes usually have lower tax rates and the rates do not increase as rapidly as a new home. The home values do not rise as quickly as they do on a newly built home

-You will usually be able to get a larger home for your money

Cons of purchasing an existing home:

-No new home warranty. However, sometimes the home will have a one year warranty included as part of the sale

-Ongoing maintenance. An existing home, depending on the age, may have major items that will eventually need to be replaced. These can be costly

-May have a termite issues or other wood destroying insects

-The neighborhood could possibly decline a little more quickly than a new neighborhood

-It may not include the huge master suite, deluxe baths and more modern amenities like most new homes have

Well, there you have it. I hope this helps you decide what is right for you and your family. This is a very hard decision for most people. So talk to your realtor about helping you decide. Your realtor has years of experience and will be able to give you some much needed insight on this subject.

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia.

Friday, September 7, 2012

Getting Your Price in an Improving Market

By Barbara Pronin, RISMedia Columnist

For the first time in several years, home prices are rising in many of the nation’s metropolitan areas. This is good news for homeowners who have been waiting to put their homes on the market. But competition can be stiff, and the savvy seller will put a few dollars and a little elbow grease into sprucing up his property to make it more attractive to potential buyers.

From California real estate agent Ellen Parker, here are five tips for improving your home’s eye appeal without breaking the bank:

Curb appeal counts – A buyer’s first impression is important. Be sure the lawns and landscaping are neatly trimmed, no toys or equipment clutter the lawn or driveway, and the front door and mat look fresh, clean, and inviting. Painting or replacing a faded front door can vastly improve the look of the property.

Neutralize the rooms – Especially if you have tended toward bright paint colors, it may be time for a coat of paint to neutralize the living areas of your home. Choosing a safe off-white or cream colored paint can improve the home’s eye appeal for a greater number of buyers.

Brighten the bathroom – Tired-looking or outdated bathrooms are frequently a buyer turn-off. But you don’t need to completely remodel. Replacing the sink and/or cabinet with a trendy new style or changing out the hardware for something snazzier can make a huge difference. Be sure the hanging towels and bath mat, and the shower curtain if you have one, are fresh and super clean.

Tidy the kitchen – Here again, a fresh coat of paint can improve the look of your kitchen – and even older flooring or countertops will look better when cleaned to a shine. Removing clutter from the countertops – including canisters and some small appliances – will help create a feeling of space. Keep all sponges and towels out of view and be sure the sink is shiny clean and free of dirty dishes.

Let the light in – Dark rooms are another turn-off. Especially when you know your home will be shown, open the drapes and curtains to let natural light in.

EXIT Realty Talbot and Company
Office:

703-574-3800
Mobile:

703.727.9885
helena@mris.com
http://www.helenatalbot.com/

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia.

Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker. I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax, Clarke, Fauquier, Prince William Counties. Our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont. Cell 703.727.9885 Office 703.574.3800