Real Estate and Reston, VA: November 2007

Somewhere along the way (probably when houses were selling before going in the MLS), the mentality about real estate prices shifted. It used to be that an agent would show a client homes around their price range that fit their needs and if they liked a home they would make an offer.  Then came the craziness.  Suddenly, buyers/agents would only look at homes that they thought were accurately priced or below their maximum price.  (of course, if you are paying full price that maximum is really important).

Then the market shifted and we came to where we are today.  The price at which a property is offered is based on previous sales, current demand and seller motivation.  It is the Listing Agent's estimate of what the house should sell for. Most (although not all) sellers understand this.  THE PRICE ON A LISTING IS NOT NECESSARILY WHAT A BUYER WOULD PAY! We all know there can be some seller ego in pricing, sometimes fair sometimes not. This will occasionally cause a listing price that is above market.

So I am suggesting that Buyers try to shift their thinking...make an offer!  What is the worst thing that can happen?  The seller could reject the offer and not counter. What is the best thing that could happen? The seller could accept your offer. What is the likely thing that will happen? You will enter in to a negotiation where you get the property for a fair price and they sell it for a fair price.

Let's get back to solid (and expected) negotiations.  That means that buyers need to accept that some of the houses that they will look at are above their stated maximum.  Why not look at the more expensive homes?  You never know what motivates a buyer.  You might end up with a nicer home for the same price you expected to pay all along.  I have had buyers accept low-ball offers (with no counter) simply because the purchaser was flexible about the move in date. It also means that Sellers need to accept that the listing price is not necessarily going to be the sales price.

I think we are getting back to this type of market, but it takes some shifting of the buyer mindset to get there.  So here is my advice to buyers: if you see something you like, make a reasonable offer. You may be surprised to find the seller is receptive!

I currently use a Treo 650 from Verizon as my PDA and ekey.  I am modestly happy with this; I love the solution, but the phone is really quirky. My husband (not a Realtor) uses a Verizon 700 and says that it is very quirky, too (but with a Windows operating system).  I am not inclinded to exchange one issue for another (I subscribe to the 'devil you know' philosophy), but I feel like there might be better options.  I just don't want to spend $300 to find out I was better off before.

Does anyone have any experience with the Verizon Verizon Wireless XV6700?  Things I am looking for in a new smart phone:

1. Does not constantly (sproadically) lock up
2. Does not cause me to miss calls while it runs through a Sync process
3. Would love immediate emails, versus waiting for a Sync to occur

Please let me know if you have any input or opinions about either phone. I was an early adopter of the Palm Pilot concept, so I am very comfortable with Palm operating system.

After many ads in the Real Estate section of the Fairfax Times (Virginia), I was recently interviewed for a Realtor Profile.  It was a great honor to be selected from among so many excellent local Realtors.  The article came out in this week's edition.

If any of my colleagues, friends are clients are interested, the link is below:

http://www.fairfaxtimes.com/news/2007/nov/13/realtor-profile-holly-weatherwax/

Thanks again for the Realtor Profile!

The day after Thanksgiving each year, the Reston Town Center hosts a holiday parade down Main Street.  Over the years our family has participated in this event through Girl Scouts, Boy Scouts, as volunteers and as observers.  It is a fun way to begin the holiday season and it is a tradition that many of us in Reston look forward to each year.  If you happen to be in town for the Thanksgiving holiday weekend, head over to the Town Center and join the crowds as the holiday season begins.

The Town Center sponsors additional holiday events, that day, and throughout the season. You can get more information at www.restontowncenter.com.