What Were You Thinking When You Bought That House?

I see a lot of houses.  I see the light, I see the layout, I see the architecture and I see the stuff.  It is always interesting to try to figure out why people buy the houses that they buy.  Sometimes it is obvious and sometimes not.

When I am working with a client and they walk into the house they want, I can USUALLY see it their expression.  Not always, however, are the reasons for choosing a house so obvious. 

Have you ever walked into a home and wondered, 'why would you have ever bought this house?'  Maybe the layout is awkward. Maybe it is located on a busy street.  Maybe it is very, very dated.  

The reasons people buy a specific home is as varied as my white bungalowclients.  It could be that the only thing that matters is the location.  It could be that they gave themselves a deadline and just bought something that was available at the time.  They could have been relocating and did not want to go into temporary housing.  Maybe a baby, divorce or elderly relative caused them to want to make a quick decision.  And they live with the results of their choices until it is time to sell. Maybe, just maybe, the house spoke to them in a way that it does not speak to others.  

When marketing a house that is unique, or not necessarily attractive to many purchasers, the seller has two ways to represent the home in a way to attract the most people 1) price it competitively (every property has a price at which it will sell--warts and all), 2) stage it to appeal to the most possible buyers.

As you prepare to sell your home, it is important to look at your home from the view of all those who will see your home. A realtor who has experience as a stager, or working with  a home stager, can help you put together a plan to ensure that your home appeals to the greatest number of people.

You must also hire a LOCAL Realtor who is well versed in the market conditions that will affect the price that you get for your home. If we have learned anything in the past several years, one of the most important things is to price your home accurately right at the beginning. Pricing too high can result in your home languishing on the market and, ultimately, recognizing a lower sale price than you would have if the price was set correctly from the beginning.

When you are ready to sell your home, make sure you give yourself the advantage of using a Realtor who is experienced  both with marketing, pricing  and home preparation. It will give you an edge in a market that, at best, is quirky and unpredictable.

If you need help marketing your Northern Virginia home, get in touch, and we can find a time to put together a plan to sell your house.

 

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momentum Realty

I believe that buying or selling real estate should be a GREAT EXPERIENCE. If I can help you, your friends or family buy or sell their next home in Northern Virginia, please let me know!

If you need help with a home outside of Northern Virginia, I have an extensive network of referral agents and will make sure you are working with the best!

The contents of this blog may not be copied or reproduced without the permission of Holly Weatherwax.

December 2011 Market Report for Reston, VA 20194

Here is a report on the market activity for Reston, VA, 20194 zip code, for December 2011.

20194 December 2011 v. December 2010 Sales

December is a notoriously slow month for real estate in the Northern Virginia area. This December did not behave any differently.  In fact, this December was even slower than December of 2010 in the 20194 zip code--and in all of Reston (click here for the 20191 Market Report and for the 20190 Market Report).

While consumer confidence is slowly regaining its foothold, buyers are still reluctant to move forward. Retail sales saw growth in November and December which could mean that consumers were spending their time and money on retail, rather than real estate, purchases.

3 Bedroom Townhouses continued to be the most popular homes sold in 20194 with the Average sold price up from the December 2010 average of $479,000 to the December 2011 average of $510,557, a 6.59% increase.

Detached, 4 Bedrooms+ homes saw the greatest price decline with the average sales price in December 2010 being $846,000 and the December 2011 average price at $706,875. This was a decrease in average price of -16.45%. It was a relatively few number of homes, 4 in 2011 and 5 in 2010, that impacted this average price.

The inventory in the 20194 zip code continues to be tight. Assuming more buyers get into the market this spring, it could create more favorable condtions for sellers than we have seen in a while.

If you are interested in finding out more about properties available in the 20194 zip code, text, call or email me at 571-643-4902, hollyweatherwax@mris.com.



 

 

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momentum Realty

I believe that buying or selling real estate should be a GREAT EXPERIENCE. If I can help you, your friends or family buy or sell their next home in Northern Virginia, please let me know!

If you need help with a home outside of Northern Virginia, I have an extensive network of referral agents and will make sure you are working with the best!

The contents of this blog may not be copied or reproduced without the permission of Holly Weatherwax.

December 2011 Market Report for Reston, VA 20190

Here is the December 2011 market activity report for Reston, VA, 20190 zip code (North of the Toll Road, south of  Baron Cameron Avenue, includes Lake Anne and the Reston Town Center).
Market Report Reston, VA 20190 December 2011

December is a notoriously slow month for real estate in the Northern Virginia area. This December did not behave any differently.  In fact, this December was even slower than December of 2010 in the 20190 zip code--and in all of Reston (click here for the 20194 Market Report and for the 20191 Market Report).
 
While consumer confidence is slowly regaining its foothold, buyers are still reluctant to move forward. Retail sales saw growth in November and December which could mean that consumers were spending their time and money on retail, rather than real estate, purchases.

Condominium sales made up the bulk of home purchases in the 20190 zip code for December of 2011, with 12 units sold. This was down from December of 2010, when 23 units sold. The average sold price, however was up 12.75%, from $335,726 to $378,544.

The 20190 zip code had only 2 detached homes sell in December. While this number looks very low, only 3 detached homes sold in December of 2010. This zip code has a large number of condominiums and townhouses relative to the number of detached homes. The average price, insignificant when only factoring two homes, does not help at all given that the 2 homes sold were atypical detached homes: a 2 bedroom ($160,000) and a 3 bedroom ($210,000).

In the Lake Anne/Reston Town Center area, 7 townhouses sold last month, compared to 10 in December 2010. The prices trends are not clear, given that they were significantly up in some categories and significantly down in others. 

In December 2011, the 20190 zip code had 7 townhouses sold,2 detached homes and 12 condominiums. These numbers were significantly lower than in December 2010 when there were 10 townhouses, 3 detached homes and 23 condos sold, indicating that demand was down in December 2011.

If you are interested in finding out more about properties in the 20190 zip code, text me, call me or email me at 571-643-4902 or hollyweatherwax@mris.com.

 

 If you like what you've read, please consider subscribing to my blog: Subscribe to Holly's Blog

 

momentum Realty

I believe that buying or selling real estate should be a GREAT EXPERIENCE. If I can help you, your friends or family buy or sell their next home in Northern Virginia, please let me know!

If you need help with a home outside of Northern Virginia, I have an extensive network of referral agents and will make sure you are working with the best!

The contents of this blog may not be copied or reproduced without the permission of Holly Weatherwax.

December 2011 Market Report for Reston, VA 20191

Here is a market report for Reston, VA, 20191 (South of the Toll Road), for December 2011.


Market Report for 2011, December 2011

December is a notoriously slow month for real estate in the Northern Virginia area. This December did not behave any differently.  In fact, this December was even slower than December of 2010 in the 20191 zip code--and in all of Reston (click here for the 20194 Market Report and for the 20190 Market Report).
 
While consumer confidence is slowly regaining a foothold, buyers are still reluctant to move forward. Retail sales saw growth in November and December, which could mean that consumers were spending their time and money on retail and car, rather than real estate, purchases.

In South Reston, 3 Bedroom Townhouses continued to be the most popular homes sold with the Average sold price slightly down from the December 2010 average of $346,200 to the December 2011 average of $342,389, a 1.10% decrease. In December of 2010, 21 townhouses were sold, while this December 14 were sold.

The average price for a detached, 4 Bedrooms+ home sale was up in South Reston, the number of units sold was down significantly. In 2010 the average sold price was $504,429. In 2011, the average sales price was $573,333 which was an increase of 13.66%. December 2011 saw the sale of only  4 detached homes, compared with the sale of 15 detached homes in December 2010.

Condominium sale prices were up 10.13% with an average sale price in December 2011 of $186,429 as compared to the December 2010 average of $169,284. Last year, 13 condos were sold as compared to only 7 this year in the month of December.

Overall, the numbers were down, acrosss the board. In December 2011, the 20191 zip code had 14 townhouses sold, 4 detached homes and 7 condominiums. These numbers were significantly lower than in December 2010 when there were 21 townhouses, 15 detached homes and 13 condos sold.

If you are interested in finding out more about properties in the 20191 zip code, text me, call me or email me at 571-643-4902 or hollyweatherwax@mris.com.

 

 If you like what you've read, please consider subscribing to my blog: Subscribe to Holly's Blog

 

momentum Realty

I believe that buying or selling real estate should be a GREAT EXPERIENCE. If I can help you, your friends or family buy or sell their next home in Northern Virginia, please let me know!

If you need help with a home outside of Northern Virginia, I have an extensive network of referral agents and will make sure you are working with the best!

The contents of this blog may not be copied or reproduced without the permission of Holly Weatherwax.

Looking For Things To Do in Northern Virginia?

Northern Virginia is a great place to live!  There are things to do all over the Washington D.C. metro area. From NOVA (as we Virginians call it), it is an easy jaunt to Maryland or D.C.  We have access to museums, monuments, theaters, events (and great shopping) throughout the area.

If you are looking for something to do this weekend, The Washington Post is a greatLake Anne Farmers Market place to start. Each Friday they publish a Weekend section that provides theater, art, music, movies and local event information. This pullout section is a great resource.

If you are not a paper subscriber, you can get most of this information on-line at the Going Out Guide site. Go to this site to make your weekend plans and find out what is happening in and around the Northern Virginia area.

Make plans to do some fun things this weekend and use the Going Out Guide to help you make those plans.

 

 If you like what you've read, please consider subscribing to my blog: Subscribe to Holly's Blog

 

momentum Realty

I believe that buying or selling real estate should be a GREAT EXPERIENCE. If I can help you, your friends or family buy or sell their next home in Northern Virginia, please let me know!

If you need help with a home outside of Northern Virginia, I have an extensive network of referral agents and will make sure you are working with the best!

The contents of this blog may not be copied or reproduced without the permission of Holly Weatherwax.

Baby Steps Toward Selling Your House


There is undoubtedly a lot of work to do before you put your house on the market.  Not surprisingly, it is the little things that can help convince a buyer that your house is the 'one.'  You can't change the architecture or the location, but you can control how your house is presented. Rather than waiting until 2 weeks before you list and then pulling all nighters to get ready, why don't you tackle some of the smaller jobs right now? If you do one thing each day, you might be surprised how quickly you get through the list. 

Here is a list of some things you might tackle to get the job started:

  1. Clean out the pantry.  Get rid of food with expired dates. Toss (or donate if the dates are still good) the items that you bought but you now know you will never use. Make sure there is nothing in the pantry that doesn't belong in a pantry (backpacks, shoes, toys, etc.).
  2. Tackle the junk drawer. Junk drawers serve a purpose. They should contain those random items that you need fairly regularly, but that don't have another logical place to live.  If there is stuff that you can't identify or will never use, it is time to throw it out!
  3. Fix up the front door. Paint it. Buy a new mat. Replace worn or broken door knockers, knobs and doorbells. If it is warm enough where you live, put fresh plants in the pots.
  4. Clean off the 'fridge. Have you even noticed that magnets multiply? Seems like you put one on your refrigerator and all of the sudden it is covered. Just get rid of them. If you must keep the one with the school phone number or the pharmacy information, tuck it discretely on the side or upper corner.
  5. File your papers. We talk a lot about being a paperless society, yet we continue to be overrun with paper. Put on trashy television, sit down with the piles and start filing them. If you don't need something, shred it. If you are out of file cabinet space, pick up some file boxes at your local office supply store and get organized.
  6. Clean out your closet. Now I can't speak for everyone, but I know that many of us have several sizes in out closet. Pick the size that you are right now and put everything else in a storage box that you can access if you suddenly drop 10 lbs. Get rid of those 'good quality, ugly as sin,' sweaters that you believe you will wear at some point--you won't. You will feel much better when your closet is filled with things that you both like and that fit.
  7. Go through the medicine cabinet. Gather up all that expired medication and take it to a local pharmacy that accepts medication for disposal. DO NOT FLUSH IT! Throw out old boxes and dosage cups. Organize it by ailment (First Aid, Cold, Stomach Issues, Specific Illnesses, etc.). Knowing where to find something when you need it will save you time and money (you will avoid replacing things that you already own!).
  8. Donate Books and Magazines. Decide which books are important to you (that you will read again or that you would like to have on hand to lend) and get rid of the rest. Your kids will not come back for that old Economics Book. That mass-market paperback will not be re-read.  Find a shelter, hospital or Elder Care center that will be appreciative of your donation.
  9. Tackle that 'room.' We all have one...the room that collects all the stuff. It might be a room that one of your children used to live in before they moved out. It might be a guest room--and you don't have many guests. Maybe it is just an extra room that you never really needed and have used for storage. Just clean it out.
  10. Time to take on the tapes and disks. VHS and cassette tapes will not become like albums. You probably don't even have the players for them anymore.  Old PC games and software fall in to this category, too. Donate them, if appropriate, throw them away, or pack them up (if you must), but take some time to evaluate whether or not you will ever watch, play or use each tape or disk again and then act accordingly.
I hope this list helps inspire you to take on some of the projects around your house. When you look at the big picture, it can be overwhelming. By taking on one job at a time, you can begin to get your house under control--whether or not you are considering a sale.

 

 If you like what you've read, please consider subscribing to my blog: Subscribe to Holly's Blog

 

momentum Realty

I believe that buying or selling real estate should be a GREAT EXPERIENCE. If I can help you, your friends or family buy or sell their next home in Northern Virginia, please let me know!

If you need help with a home outside of Northern Virginia, I have an extensive network of referral agents and will make sure you are working with the best!

The contents of this blog may not be copied or reproduced without the permission of Holly Weatherwax.

No, Really, It Is Perfect!

Compromise has become a dirty word. No longer are we willing to give up something in order to gain something else. In purchasing a home, however, you better get back in that mode, or you will not be moving anytime soon!

At heart, most of us are idealists. We truly believe that perfect house is out there. It probably is, but whoever is living in it might not be marketing it while you search for a new place to live.Blue house

As you begin your home search, it is important that you create a list of 'must haves' and 'like to haves.' You may find that items on the list are constantly being shifted back and forth as you see more homes and refine your needs. That is okay; buying a house is a process.

Perfection is overrated. What you need in a new home is one that fits your needs. It might never have the perfect dining room view, but it might have a great kitchen. You might have to sacrifice your one acre yard to be 3 blocks from the metro. The kids might all share a bathroom to get bigger closets. These things are all okay!

When you find the house that works for you--even it it is not 'perfect'--don't be afraid to compromise. One day you will look back and realize that your compromise house was' 'perfect' for you all along.

 

 If you like what you've read, please consider subscribing to my blog: Subscribe to Holly's Blog

 

momentum Realty

I believe that buying or selling real estate should be a GREAT EXPERIENCE. If I can help you, your friends or family buy or sell their next home in Northern Virginia, please let me know!

If you need help with a home outside of Northern Virginia, I have an extensive network of referral agents and will make sure you are working with the best!

The contents of this blog may not be copied or reproduced without the permission of Holly Weatherwax.

What Qualities Make For a Good Realtor?

What Qualities Make For a Good Realtor?


It is that time of year. Folks are deciding that this year might be the time Couple in front of houseto jump into the real estate market, either as a buyer or a seller. You have probably read that you should interview several Realtors, and that is good advice. What kind of things should you be looking for in your Realtor?  Here is a list of things you should consider as you try to decide who to hire to represent you in your transaction.

  • Persistent: It is not always easy to find what your client seeks. It can take months--even years--depending on their requirements. This also goes for listing clients; sometimes it takes years of marketing to get them as clients and then months of work to sell their house. You don't want to hire a quitter!
  • Tenacious: As your Realtor, it is my job--and fiduciary duty--to look out for your interests. If I see something happening in your transaction that is NOT in your interest, you better believe I will go after the situation and make sure it works for you. I wear this label with pride!
  • Empathetic: Buying or selling a house is one of the most stressful things you can do. You need a Realtor who understands your concerns and stresses.
  • Perceptive: As a client, sometimes you don't even understand why you have the concerns that you do. As an experienced Realtor, I need to be looking for clues to how you are feeling about the situation and work with you to allay your concerns.
  • Intuitive:  Often I can pick up clues about whether a home or buyer that, at first glance, does not seem perfect, might ultimately be the right choice for you. It is always the client who makes the final choice, but my input can help you make the right choice for you.
  • Organized: From the beginning of a transaction to the end, there are a lot of steps and a lot of paperwork. My job is to make sure you don't miss a step or a deadline.
  • Outgoing: There is a house you have your eye on and it is not yet on the market. Don't you want someone who is willing to pick up the phone, write a letter or knock on the door to find out when they plan to sell? This is just one example of why you want a Realtor who won't hide behind text or email.
  • Trust-worthy: I just saw a story of a Realtor who was caught stealing from his own open house. You need to trust your Realtor with your stuff--and your future. If you don't trust me, you may believe that my advice is self-motivated. You need to believe that I am working for your best interests--at all times. 
  • Creative: Creative marketing, creative solutions, creative problem solving are all things that can help a transaction get to completion. You don't want a Realtor who just follows the steps and checks off the boxes. You want someone who will (pardon the cliche) 'think outside the box.'
It is important that you believe that the person you hire is completely and fully representing you throughout the transaction. I hope this list gives you some things to look for as you go through the process.

If I can help you with your Northern Virginia Real Estate transaction, please let me know!

 

 If you like what you've read, please consider subscribing to my blog: Subscribe to Holly's Blog

 

momentum Realty

I believe that buying or selling real estate should be a GREAT EXPERIENCE. If I can help you, your friends or family buy or sell their next home in Northern Virginia, please let me know!

If you need help with a home outside of Northern Virginia, I have an extensive network of referral agents and will make sure you are working with the best!

The contents of this blog may not be copied or reproduced without the permission of Holly Weatherwax.

An Important Consideration for Any Home Buyer

As a Realtor, one of the skills I bring to the table is helping my clients determine the investment value of their purchase.handshake

This doesn't always work the way that we expect (the bursting real estate bubble caught almost everyone by surprise), but it is something that every purchaser should consider.

There is more to evaluating an investment, than just how quickly your equity will grow. One of the most important things to consider is how quickly you could sell your home, if your personal situation changes.

At any given time there is a pool of buyers looking at homes in your local area. Sometimes this pool is larger and sometimes there are more homes for them to evaluate. One thing that remains constant, however, is that the more of these buyers who will consider your home, the more likely you are to sell it in a timely manner.

For instance, if you bought a 3 bedroom, one bath condominium and now need to sell it, the number of buyers who will consider this purchase will be likely (but not always) be limited to a single person looking for a guest room and a study, or a couple. Most people who have children, or who want to rent out rooms, will look for at least a 1.5 bathroom property, but would prefer a 2 bathroom (the gold standard in Northern Virginia condos is a 2 Bedroom, 2 Bath, as this is the most popular configuration for buyers). 

I showed a property this weekend where I talked to my client about this very subject. It was a lovely 2 story, 3 bedroom townhouse. It had high ceilings, a spacious kitchen and opened onto common ground. So what was the problem? It will be my client's first home purchase and he hopes to rent out rooms and build equity.  The issue, beside the fact that it was a two story townhouse in an area where most TH are 3 levels,  was that the top level was an enormous Master Bedroom and the rest of the home was on one level. While this would make for a great roommate situation, it would result in  a resale that appealed to a smaller pool of buyers. Most parents of young children (often townhouse purchasers) would not be comfortable with 2nd and 3rd  the bedrooms on a different level than the MBR. This, combined with the fact that it is a 2-story, would limit the pool of potential buyers and make it a harder resale. 

Keep in mind that anything sells at a price, but when you have a home that has features that are unique, the easiest way to equalize unique features is by lowering price. This can reduce the potential return on your investment.

As a purchaser, you might find a property whose unique features appeal to you. As an investor (and anyone who buys property is an investor), you owe it to yourself to evaluate how the property will appeal to other buyers when, in the future, you decide to sell. If you are willing to accept that these unique features will work for your lifestyle, and may mean a slightly longer sales cycle in the future, then you have looked at the property realistically and will be a happier, and more successful, investor.

 

 If you like what you've read, please consider subscribing to my blog: Subscribe to Holly's Blog

 

momentum Realty

I believe that buying or selling real estate should be a GREAT EXPERIENCE. If I can help you, your friends or family buy or sell their next home in Northern Virginia, please let me know!

If you need help with a home outside of Northern Virginia, I have an extensive network of referral agents and will make sure you are working with the best!

The contents of this blog may not be copied or reproduced without the permission of Holly Weatherwax.

10 Things Sellers Should Replace Before Listing Their Northern Virginia Home

10 Things Sellers Should Replace Before Listing Their Northern Virginia Home


Most Northern Virginia sellers spend a lot of time preparing their homes for market.  Cleaning closets, organizing the pantry, getting rid of old toys/books/stuff...the list goes on and on. Many even paint, recarpet or tackle minor remodeling projects.

There are a couple of simple things, however, that sellers often Brass Chandalieroverlook.  Because all real estate IS local, I can only comment that these items are off-putting for buyers in the Northern Virginia market--buyers in other parts of the country may not react to them in quite the same way.

  1. Hollywood lights: Those bar lights above the bathroom sink that feature multiple round light bulbs
  2. Brass 3 or 5 light builder-grade chandalier: Brass plated, with or without glass panels cost builders a couple of dollars--and buyers know it!
  3. Brass cabinet knobs: The color of the late 80's and 90's has been replaced with a preference for stainless steel and other finishes. Even though these knobs were expensive (in true brass finish), they look dated.
  4. Pull-down vinyl shades: Inexpensive window coverings that often feature fringe along the lower portion. You are better off with wood blinds--or vinyl blinds, if you must.
  5. Linoleum counters: Those original basic counters, selected at the time the house was built, because they were part of the base package. I am NOT referring to some of the new, updated linoleums
  6. Worn, Torn or damaged flooring: Carpet that is stained or stretched, linoleum that the dog has chewed, hardwoods that are scratched or broken
  7. Wallpaper (no matter how nice or expensive): Buyers worry about the cost and trouble of removing it--even if they like it.
  8. White builder grade tile: Those little square white tiles that were an improvement over previous generations of colored tile have been replaced by a preference for stone-like tile
  9. Sagging closet shelves: Too many things stored in your closet or pantry wooden shelves will cause sagging. Replacement with wire shelving is inexpensive and contemporary looking.
  10. Torn window screens: People notice these tears--they are easy and inexpensive to repair.
If you have read my blogs in the past, you may have seen me mention many of these items before.  It is because they really do bug Northern Virginia buyers. Why would you want buyers noting all the ways that your home is deficient, rather than all the ways it could work for them? Don't get me wrong, your house can sell if you don't update these items, but it might take longer and result in a lower sales price.

The Spring market of 2012 is almost here. If you are interested in buying or selling your home this Spring, give me a call and we can put together a plan to get your house in fantastic shape for Spring marketing. 
 

 

 If you like what you've read, please consider subscribing to my blog: Subscribe to Holly's Blog

 

momentum Realty

I believe that buying or selling real estate should be a GREAT EXPERIENCE. If I can help you, your friends or family buy or sell their next home in Northern Virginia, please let me know!

If you need help with a home outside of Northern Virginia, I have an extensive network of referral agents and will make sure you are working with the best!

The contents of this blog may not be copied or reproduced without the permission of Holly Weatherwax.