Luxury Real Estate Sales, Virginia Home Buying & Beyond

A Lot of Nibbles, Few Catches

2007-03-07T07:50:00.000-08:00

Around the country we hear different opinions on the state of the market. It certainly depends on where you live and how well you have implemented a solid marketing plan to gain share during this correction period.

One skill that is proving beyond valuable at this juncture is patience! Buyers are taking this opportunity to ask a lot of questions and make sure the get the right answers. With price reductions around every corner, negotiation is an everyday event.

Agents in all parts of the country, especially those in the high-end market of La Jolla and suburban Philadelphia are always seemingly so close to finalizing a sale before the buyers sees something they perceive to be a better deal.

Home buyers in this market can afford be picky and rightly they should, and helping them make the right decision is simply a matter of time.

Weathering the Storm

2007-02-27T06:59:00.000-08:00

There is some significant concerns across numerous markets that more struggles can very well be ahead of the housing and real estate industry. While there has been a recent uptick in home buyer inquiries and interest, closings and transactions are way down.

In addition, in a few cities, like the Orlando real estate market, there has been an increase in foreclosures because some home owners are struggling to cover their monthly payments as their interest only and balloon mortgages are reaching their limit.

Market Stabilization

2007-02-20T13:30:00.000-08:00

Is it just the swing toward spring that has brought about an increased buyers interest in purchasing real estate or is it a larger indicator that the market is stabilizing? Perhaps it is a bit of both.

All Hail the Great Flake

2007-01-26T01:04:00.000-08:00

Snow returned to the area in a glorious way this past week. No it wasn't so much that we were inudated with so much snow that we were stuck in our homes for days, but just the pleasant surprise of a few inches on a Sunday morning made for a fantastic close to the weekend.

With the mountains on either side of the Shenandoah Valley, Virginia and the snow falling from the Heavens in bundles of big fluffy flakes, it was exciting to see the joy on the kids' faces as they peered outside in anticipation of making the year's first snow man.

And that we did. We improvised in many ways, not having coal and all, but we were delighted when we finally finished and placed a carrot for his nose.

Sled riding, a snow man and snow ball tosses, then don't forget the hot chocolate afterwards. It all made for a great day. Let it snow, let it snow, let it snow!!!

New Partnership

2007-01-20T08:35:00.000-08:00

We are pleased to annouce our new partnership with another great online blog, New Jersey Real Estate, NJ Sales at http://newjersey-realestate.blogspot.com/

Vacation Homes: Why Buy

2007-01-03T18:33:00.000-08:00

Often you can rent out a second or vaction home. You may be able to recoup much of your costs by renting it out only part of the time. In recreational areas, like La Jolla CA near San Diego, Boca Raton FL or Virginia Beach, often you can rent out a property weekly for a few months and make enough money to pay for its annual costs.

On the other hand, you may be able to write off a protion of your expenses and avoid paying a portion of your income. The tax law on write-offs is constantly changing so make sure you consider an accounting professional for details.

Vacation Homes: Economic Issues

2006-12-31T09:35:00.000-08:00

Vacation homes are really quite different from other types of residential real estate properties. However, they do share some of the problems. Let's concentrate on the economic issues.

Vacation homes are expensive, very expensive. Assuming you finance the purchase, you will have an additional set of mortgage payments to make. Plus you'll have a second set of taxes and insurance to pay. Then there are utilities, upkeep, homeowner's dues, fire protection and a number of other concerns.

Basically, from a strictly economic perspective, a second home mostly makes little financial sense. However, finances typically have little to do with the purchase, and at the same there can be great financial upside if you buy the right property at the right time, but realize that's a risk worth consideration.

Next, we'll consider Vacation Homes: Why Buy!

What About Buying a Vacation Home?

2006-12-30T14:36:00.000-08:00

Vacation homes, whether real estate in Boca Raton, Florida, a luxury ocean front home in La Jolla, CA, riverfront condominiums in Hoboken, NJ or a property in VA Beach, used to be the exclusive realm of the famous and the rich. But times have changed. Today, vacation homes are increasingly important as the second home of many middle-income families. More and more people buy and enjoy vacation homes. Will you?

A vacation home can be a cabin in the woods or a condo in another city. It can be a big or small, fancy or plain. Spurred by the need to get away from the crowding of cities and lured by the thought of acquiring some potentially valuable land, many people have bought a vacation property. Almost always, however, it's a second home. Few of us have the time or resources to live year round at a vacation home.

Decide How a Home Fits Your Lifestyle

2006-12-20T19:20:00.000-08:00

When buying a home in Virginia think about how you live and how the home fits your style:

The flow of rooms: How would morning traffic move from bedroom to bathroom to bath to kitchen? Could one person go to bed early, or sleep in in the morning without being disturbed?

Privacy: Some families live by the rule that every person needs a spot where they can be alone. Is there a spot like that for everyone?

Gathering place: Is there a spot to fit the immediate family? The extended family? This could be the kitchen table, dining room, fireplace seating area, barbecue area, around a television set?

Overnight guests Is there space or does the house provide an excuse to please, "Sorry, no room at the inn."

Think, too about the property and landscape that surround the home:

Do you see green in the summer out the window? Is it important?

Is there a night time view of lights? Do you like that?

Is there room for a garden, a deck, a patio, a fence, a pool, a tennis court, a play yard for children?

Can you see the sunset, the sunrise? If you have strong opinions about lighting and how the sun impacts the setting, then visit the home at various times of the day.

Start your search by previewing our new Va Beach real estate listings.

Realtors Working to Your Advantage

2006-12-19T19:38:00.000-08:00

Thinking about buying a home, possibly selling your family estate and relocating to a waterfront property? Any of those options require a specialized service from a Virginia real estate agent that understands that particular niche.

Whether a buyers broker, a seller's agent and luxury home specialist, at Va Estates we have several agents fitting any one of those categories and more. As you consider your next option, consider what it means to work with a qualified VA Realtor that understands your particular situation and that can provide customized services that work to your advantage.

Holiday Slowdown, Primetime Opportunity

2006-12-18T18:46:00.000-08:00

As the Virginia real estate market has slowed to an absolute lull here in the week before Christmas, there's truly not a buyer a stirring, not even a nibble. As everyone pushes and shoves their way through the shopping malls, sellers close their eyes, cross their fingers and close their eyes wish dear old Saint Nick might deliver them a home buyer for the New Year. Such a chill in the air for the sales that are so bare could present a perfect opportunity to make an offer and find yourself with a new home for the New Year.

Home Warranty Insurance

2006-12-17T20:10:00.000-08:00

Whether selling a home or buying a new one, it is wise to consider a home insurance warranty. Such warranties offer protection for you and the buyer, covering repair or replacement costs for breakdowns to most major systems and built-in appliances for up to a year after the date of closing. In many states, there is no additional cost to sellers who provide coverage for their buyers, except for a small deductible if you make a claim. And when you consider the peace of mind that comes with knowing 24-hour emergency service is always a phone call away, it's hard to imagine a better investment.

Tidewater, Va Beach Properties Over 500K

2006-12-16T10:36:00.000-08:00

One of the featured new sections at Virginia Estates.com is our $500k and over page, including some of the nicest VA Beach real estate property listings from the Tidewater area.

These are some of the area's most affordable upscale homes. Don't get me wrong, they are not cheap, but they offer a nice home for a reasonable price, that is without getting into the really upscale luxury homes over $1 million.

Plus we've added more properties to each page, so that's less scrolling and less clicks to see more properties.

Click here to see them now.

New Properties, New Areas

2006-12-14T11:26:00.000-08:00

While I've been so involved in the discussing the sales process, negotiating and working with a Realtor, a lot has been going on behind the scenes at Virginia Estates. With an ever expanding area of Virginia Beach real estate offering and Tidewater, VA property listings, the site is growing faster than ever.

Originally focusing on properties set within the lush green foothills of the Blue Ridge Mountains in and around Charlottesville and Albemarle County, the company has continued to fulfill its vision of covering the entire Va real estate market.

With many waterfront and river paradise retreats for a second home and family vacation house as well as beachfront condominiums and townhomes for sale, the agents at Virginia Estates are now fully equipped to help you anywhere in the Tidewater region.

Many properties include outside balconies, decks, piers and beach or riverfront access.

Take an opportunity to peruse some of our fine Va Beach real estate listings...

Shrewd Bargaining Checklist

2006-12-03T04:51:00.000-08:00

1. Always be prepared to walk away from the deal.
2. Set a top limit above which you will not go.
3. Try to be in a position to make an offer that is not iffy, i.e., hinges on something that is not likely to happen soon, like selling your home.
4. Do intelligence work on the seller.
5. Say as little as possible about yourself.
6. Do not be afraid to make a low first offer and do not allow a seller's agent to talk you out of doing it.
7. Be patient, nice and hide your emotions

Seller's Weaknesses

2006-12-02T20:04:00.000-08:00

Well into the negotiations, you should know what some of the seller's weaknesses are, but you can create additional ones for the seller to swing the momentum your way. One way is to let it be known that you are considering buying another home in Virginia, which creates an artificial deadline for the seller.

Real estate agents do this to buyers all the time saying, "Someone else is going to make an offer, you had better make on if you want the home!" But if a Virginia real estate agent says this to you, just back off for a while. If the home sells to someone else in a few days, the there was another buyer, then there was obviously another buyer. If it doesn't, then you are still in business.

Regardless, the last thing you want to do is get involved in a bidding war and run up the price. But, what if, you say, "It's the home of my dreams?" At that point, you'll need to balance the dream versus the total expense, because in this case, dreams get expensive. Nevertheless, this is a valid consideration that has cost many emotional buyers money.

Another way to create a deadline for the seller is to write into your offer that it will expire after twenty-four hours. Such an offer not only puts pressure on the seller to act quickly and, hopefully, not too wisely. It also restricts the seller's ability to shop your offer to another buyer that also might be interested in the seller's home.

Finally, if the negotiations get bogged down, you might try making a final take-it-or-leave-it offer. If the seller or Virginia sales agent really thing you are going to walk away after all of the time and effort that they have put into you, each will start thinking about making additional concessions to get an arrangement.

At this time, with the seller present, it would not be out of line to suggest that a deal might be struck if the agent would cut the sales commission for the agent so that the price of the home can be lowered. You could also write a lower commission into your next offer, however please be aware that the seller may not have the guts to suggest or accept reducing the agent's commission. They might not even know that commission are indeed negotiable at this point in time.

The Actual Negotiatons

2006-11-30T17:33:00.000-08:00

As to the actual negotiations, most people will expect you to bargain, so do not be afraid to offer less than the asking price. Be careful, though. An offer that is too low may make the seller mad and kill any chance to reach a compromise, especially when the seller has made previous reductions in the price, or is asking less than what was paid for the home.

Normally, somewhere between 85 and 90 percent of the asking price usually is a good first offer on a used home. On a newly-built home, I usually start a little over 90 percent of the builder's asking price, because builders generally do not have as much room to negotiate.

For instance, if the seller of a used home is asking $100,000, the taking price is probably in the low to mid 90s, so make an offer in the mid 80s. Then increase the amount of your offers to a predetermined target price, $93,000, above which you will not go. If it's a newly-built home, start at $91,000, planning to go as high as $96,000.

You might also decide to give up some of the provisions in your offer to which the seller has strong objections. Each thing you give up, though, should be matched by a concession in price, terms, and so on by the seller. Let the seller know he or she is buying the protection that you are giving up.

During a slow market, or if there isn't a threat of a competing buyer, a good technique is to never accept the seller's offer, even it is at a price the buyer will ultimately pay.

Suppose you offer $74,000 on an $82,500 home and the seller counters $78,000, a price you will pay. If you accept the $78,000, you have the lost the opportunity to get the home for $76,000 or $77,000. So make another offer at $76,000 and wait.

Unless there is a competing buyer, there is little risk in doing this, because the seller isn't going anywhere. On the other hand, your money is very portable, and the seller may be getting worried about you tiring of the game. You can also use this technique to negotiate the amount and terms of any paper the seller might hold, what appliances will go with the home, and so on...

At the Bargaining Table

2006-11-28T18:13:00.000-08:00

Often you can gain advantage in the negotiations by sitting down face-to-face with the seller. This is especially true when you are familiar with the subject matter and the seller is not. Real estate agents can almost always get the seller a better deal than the seller can get alone, and this is one reason the seller's agent will not want you or your buyer's broker to see the seller during the negotiations.

You can get around this very easily by saying you will not proceed with negotiations unless the seller is present. Bargaining face-to-face with the seller is usually the most productive after the negotiations have been going on for a while and you have gotten the seller or his or her agent really interested in your making a deal.

Back to Business

2006-11-21T20:43:00.000-08:00

Back to the comfortable Shenandoah Valley and home-sweet-home, Virginia, and it is time to buckle down and get the eyes on the prize, negotiation!

Many books have been written about negotiating, and you should read one. In general, disclose as little as possible about yourself and learn as much as possible about the seller. The more you know about the seller and the less the seller knows about you, the stronger your bargaining position will be. You should also be patient, polite and act understanding of the seller's needs, while being firm about your own.

Finally, find out what the seller's deadlines are (date being transferred out of town, date contract on seller's next home will expire, etc.), and let them force the seller to come to you. The closer the seller is to his or her deadlines, the more concessions you will get.

Four other rules of good negotiating should be mentioned: (1) if you aren't willing to risk losing the house, you will not be able to negotiate as well; (2) get the seller, and his or her agent(s) to invest as much time in you as possible, which will make them concede more if it looks like you are going to go away; (3) the longer an agent has been working on the deal, the sicker he or she will be of it and the more he or she will pressure the seller to make concessions to you; and (4) set a top limit in your mind that you will pay and stick to it.

The concessions you will get from the seller may also depend on other factors such as: how well homes are moving in general; how long the seller's home has been on the market; whether the seller is trying to buy another home; whether seller is in distress; whether you can make an offer that will not require the seller to hold paper; whether you can make an offer that does not hinge on something iffy, like selling your home; how much the seller has in the home; whether there is a competing buyer, and so forth.

If you are buying a newly-built home, find out how many unsold homes the builder has. The more houses there are, the weaker the builder will be.

City Mouse, Country Mouse

2006-11-12T19:45:00.000-08:00

We took the kids this weekend up to NYC for nice break from the ho-hum country life to explore the ins and outs of the big city. Meeting up with a few of the in-laws and packing the kids in the car at 4am for a road trip up I-81 and away we went.

As we crossed over to I-78 and passed through the beautiful Lehigh Valley, Allentown, Easton and Bethlehem, Pennsylvania we enjoyed the travels across an area that in many ways reminded us of the Shenandoah Valley in Virginia.

As we cross into New Jersey and closer to Manhattan, we began to see more and more signs that the concrete jungle of the Big Apple was within our reach.

The kids were very excited to see the tall buildings and a glimpse of the Statue of Liberty as we passed through Hoboken, Weehawken and Hudson County, NJ overlooking a quick hop, skip and a jump to New York City; our adventure had begun.

The Real Dangers

2006-11-10T05:53:00.000-08:00

Contrary to popular belief, people problems, not title problems, will be your main concern. You will be able to eliminate title problems by requiring that the seller furnish a warranty deed, marketable title, title insurance and a survey. However, none of those will protect you from your own ignorance or weakness as a negotiator, or someone else's dishonesty or greed.

Emotions will blind you...

2006-11-05T20:25:00.000-08:00

The beginning, not the middle or end, determines how most investments turn out. Yet buying a home is such an emotional event for most people that they are unable to treat it as the truly significant investment that it is. Rather, they can only thing about things like: how to decorate the baby's room, what color to paint the living room, how nice the pool will be in the summer, how beautiful the flower garden is in the back yard, how happy they will be to invite over family and friends or what improvements they may like to make down the road.

Furthermore, most home buyers are so unfamiliar with the legal and factual aspects of buying a home and the potential dangers or risks involved, that they lack the confidence needed to be assertive or to protect themselves, even when the need to do so has become crystal clear.

Many are reluctant to engage in tough price bargaining and often pay more than the seller would have taken. Others forego a thorough professional inspection, because the seller assure them that it's a good home or everything has been fixed or is up to grade.

Speaking from experience, don't let yourself be swept away in the frenzy of the home search. Protect yourself from your own ignorance of the process by taking your time to fully explore, examine and research each and every situation.

Our VA Realtors, including Virginia Beach real estate agents, will answer your questions and help you consider all the factors affecting your decisions.

Seller Obligations

2006-11-02T04:02:00.000-08:00

What the seller must tell you: The seller of a new or existing home must disclose any hidden and dangerous defects that he or she knows about (faulty stairs, unstable supports, loose railing); the seller cannot cover up defects to prevent you from seeing them (painting over water damaged areas on a ceiling that would give away a roof leak); and if you ask any questions about the home, the seller is supposed to answer them truthfully.

At the same time, if you are buying a used home, it can be difficult to determine what the owner new about and what is exactly hidden or even dangerous. It can be hard to prove that a seller new about a truly dangerous condition, such as rotten flooring and sub-standard conditions.

In this manner, it is very important that you do all that you can to protect yourself before paying any money or signing anything. A preliminary investigation or inspection, a good, protective contract of purchase, and constant vigilance are basic requirements.

The Sign of an Ethical Agent

2006-11-01T19:00:00.000-08:00

The sign of an ethical Va Beach real estate agent, should identify whether they work for the seller and if they do, the Realtor® should say somthing like this to you upfront:

I want you to understand that I represent the seller, who pays me, and I cannot do anything for you that would hurt the seller. I will take any offer from you to the seller, but I cannot negotiate for you against the seller. If you fell you need help during the negotiation, then you should get someone else to advise you, such as a buyer's agent. However, I will do my best to help you find a home and financing that suits you.

The Cumalitive Effect

2006-10-19T07:42:00.000-07:00

I have never had to make so many tough decisions in my life, plus keep so many people in the loop about what goes where and who does what.

Buying land in the Shenandoah Valley of Virginia turned out to be the easy part. From there it has been one mixed array of permits, contractors, inspectors, deadline and deals.

From VDOT and surveyors to engineers and the Health Department, the list and checklist has sure kept me busy.

Now that everything is in order at least with the loan and our contract, we are excited to see the groundbreaking. Well, as long as the weather holds up and our road developers finish clearing the driveway and build it out so everyone can get up their.

With so much done for the time being, we figure it'd be a great chance to get-a-way to the ocean for a four-day family trip. Making that investment in Virginia Beach real estate those years ago has turned out to be such great fun for all of us.

Shopping for a Loan

2006-10-17T19:31:00.000-07:00

With so much going on lately in planning to build a home, it's like a full-time job. I say planning because whether you are building your real estate in Va Beach or the Shenandoah Valley, the preparation plays such a large part of the entire process. There's the temporary power, well and septic permits, building permits, house plans, driveway construction and maintenance agreements. The list goes on and on.

Then it comes time to secure our lender. While you are shopping for your loan, keep these things in mind:

Your choice of lender and type of loan will influence not only your settlement costs, but also the monthly cost of your mortgage loan. There are many types of lenders and types of loans you can choose.

You may be familiar with banks, savings associations, mortgage companies and credit unions, many of which provide home mortgage loans. You may find a listing of some mortgage lenders in the yellow pages or a listing of rates in your local newspapers.

Mortgage Brokers: Some companies, known as "mortgage brokers" offer to find you a mortgage lender willing to make you a loan. A mortgage broker may operate as an independent business or may be operating as your "agent" or representative. Your mortgage broker may be paid by the lender, you as the borrower, or both. You may wish to ask about the fees that the mortgage broker will receive for its services.

The Natural Beauty

2006-09-24T19:29:00.000-07:00

Looking out over the shores from our Virginia Beach house, our family retreat wasn't something that I truly appreciated in the early years, but I've grown to really enjoy the natural beauty of the waterfront, the dock, the sea and the atmosphere. All and all, it has become a very nice family tradition.

Romantic walks on the shore and the breathtaking sunsets combine to create a pleasant, peaceful and relaxing weekend with my sweetness.

The Beach Again!!!

2006-09-23T15:00:00.000-07:00

Perhaps for the last time this year, we packed up and took off for a weekend trip to the beach. While I don't really enjoy that drive down I-64 East, once we get to the ocean and all that the Virginia Beach area has to offer, I'm loving life.

We had a fabulous dinner last night at a luxurious local restaurant. I had the crab stuffed flounder, while my lady enjoyed chicken marsala, her favorite.

The water is still warm enough for a Saturday afternoon jaunt through the waves. Our VA beach house and real estate property suffered a little bit of water damage from the last storm, but all in all it help up well.

We decided that having a place set-back from the beach itself would be a wise plan. It really has help avoid any major storm damage that some of the other homes that sit right on top of the water have to bear.

After taking in the inventory from the summer renter's season, we strolled along and through those fine Virginia Beach waters looking for sea glass, took some time to take in the sun, read from our new books and just had a nice time relaxing, talking and enjoying each other's company.

Buying Land: A Real Deal

2006-09-22T02:41:00.000-07:00

If only signing on the dotted line was that simple, then it might not have taken a whole week since my last entry. Seriously! Buying land can be and all consuming project, especially when you do so as your own Realtor, liason and faciliator.

I'm talking about this meeting for that permit, phone call and confirmations, notaries, faxes and examinations. From easements and contracts to applications and right-of-ways, there's no shortage of things to do when you purchase a piece of property with an eye toward building a home.

Fortunately, we know the builder personally and he doesn't mind phone calls at odd hours to double-check on an architectural concern or assist with a blue print customization request.

Someone could really make a living working as a project manager by assisting the buyer/builder with everything that has to be done in order to move the process along smoothly.

Home Buying Process: Selecting an Attorney

2006-09-14T19:41:00.000-07:00

Just getting all settled in after a long day dealing with Web hosting issues and some confusion at the court house while trying to record an environmental certificate with the deed for a property in the Shenandoah Valley. I was able to spend a little extra time with the children tonight, and that made the whole day worthwhile.

So getting back to real estate and considering the importance of selecting an attorney. Before you sign an agreement of sale, you might consider asking an attorney to look it over and tell if you if it protects your interests.

If you have already signed your agreement of sale, you might still consider having an attorney review it. An attorney can also help you prepare for the settlement.

In some areas attorneys act as settlement/closing agents or as escrow agents to handle the settlement. An attorney who does this will not solely represent your interests, since, as settlement/closing agent, he or she may also be representing the seller, the lender and others as well.

As with any big decision, you should look around and ask what services will be performed and for what fee. Find out whether the attorney is experienced in representing home buyers in Virginia or otherwise.

Across the Delaware & Back to VA

2006-09-13T19:46:00.000-07:00

I took the train into New Jersey last night, then grabbed a rental car for the trek across the Delaware and into Bucks County, PA. They call this area the Delaware River Valley, and their are some mighty fine upscale, historic homes in the Doylestown and New Hope area, that's for sure.

After staying at the Lambertville House just over the bridge from New Hope into New Jersey last night, I drove up and down River Road, then up Lower York Road into Doylestown early this morning.

The scenery was nice and there seemed to be one landmark treasure after another. The area seemed quaint and inviting, but I sure did miss the good ole Shenandoah Valley.

There is something about those Virginia mountains, the fields of pasture and trees galore that beckon my return home.

Take into Consideration

2006-09-11T19:18:00.000-07:00

After buying my first home, there must have been ten different things [as I reflect modestly] that I wondered how in the world I overlooked that over there or this over here. For example, the ceiling fan rattled fairly significantly, and in the bedroom of all places.

The situation was compounded because I consider myself thrifty, if not cheap by some measures, so maximizing the fan and minimizing the AC was a must. The good news [years later] is that we grew up on a farm with train tracks that ran through the adjacent field. That steam engine used to stir up quite a roar in the middle of the night, not to mention all the animals that would chime in.

So I guess you could say that I got used to the rattle from this noisy old fan without too much of a problem. Now I'm just waiting to find out how living less than a mile from the stench of those chicken houses for all those years is going to spin into a positive.

Anyway, I digress... the point is that it can be very frustrating to realize that you missed this or that during the walk through, especially when you could have added them to the punchlist, and had them fixed for free!

Pour through the details, check and double check, even if it drives your Realtor crazy. That's what they get paid to do, work for you until you are absolutely happy.

I truly believe you'll find that level of service with the fine luxury real estate brokers at Virginia Estates in Charlottesville, VA.

Agents in the Electronic Age

2006-09-10T18:53:00.000-07:00

How prepared is your agent to respond to the market in a fast, efficient manner? Do they utilize electronic media to have the Multiple Listing Service at their fingertips in order to provide you with the up-to-the-minute property listings and market reports?

In this age of readily available information and online access to all types of data, if an agent doesn't have or work for an agency with a Web site that taps into the MLS, then that's the first sign that they are probably not up to date with the electronic curve.

Check the Virginia Estates.com and you'll find a group of Virginia Realtors that has one of the top Web sites in the state, with property listings and VA real estate from through out Northern VA, Central VA, Charlottesville, Richmond, the Shenandoah Valley and Hampton, Norfolk and Virginia Beach.

Forecasting the Future

2006-09-09T13:27:00.000-07:00

The market is slowing and many real estate agents are scrambling as they seek new ways to present thier clients home or property in order to grab the home buyers attention and interest.

Home buyers are watching the federal interest rates, the stock market and inflation to get a feel for whether now is a good time to buy or perhaps waiting six months will put them in a better position.

Price reductions are certainly inevitable, but to what extent will ultimately depend on how bad the home owner wants to move the property.

Seek assistance from a qualified Virginia real estate agent and VA Realtor that can help you determine what is the right move for you.

Home Inspections: Tips for Virginia Home Buyers

2006-09-07T12:32:00.000-07:00

Tips for Virginia Home Buyers:

Get a home inspection:
Whether you are buying a brand new home, a charming 100 year old Victorian, or a townhouse, the condition of the home should factor into the buying equation.

Verify the credentials of the home inspector you select:
Credentials in the home inspection industry vary as much as prices do. Bargain-price inspectors are often the least credentialed. Make sure the home inspector you select has been professionally trained and tested, has access to experienced technical support, and completes continuing education on a regular basis.

Go along on the inspection:
No matter who you choose for your home inspection, be sure to attend the inspection in person! And feel free to ask questions, no matter how "naive" you think they sound. In just one tour of a home with a qualified professional, you will learn a lot about the property -- and fee much more confident about your decision.

Role of the Real Estate Broker

2006-09-04T13:16:00.000-07:00

Frequently, the first person you consult about buying a home is real estate agent or broker. Although real estate brokers provide helpful advice on many aspects of home buying, they may serve the interests of the seller, and your interests as the buyer. The most common practice is for the seller to hire the broker to find someone who will be willing to buy the home on terms and conditions that are acceptable to the seller.

Therefore, the Virginia real estate broker that you are dealing with may also represent the seller. However, you can hire your own real estate broker, known as a buyer's broker, to represent your interests. Also, in some states, agents and brokers are allowed to represent both buyer and seller.

Even if the real estate broker represents the seller, state real estate licensing laws usually require that the broker treat you fairly. If you have any questions concerning the behavior of an agent or broker, you should contact the Virginia Real Estate Commission or licensing department.

Sometimes the real estate broker will offer to help you obtain a mortgage loan. He or she may also recommend that you deal with a particular lender, title company, attorney or settlement/closing agent.

You are not required to follow the real estate broker's recommendation. You should compare the costs and services offered by other providers with those recommended by the real estate broker.

Buying a Luxury Home: Top Agents

2006-09-01T19:34:00.000-07:00

The very best Virginia real estate agents are ringmasters. Whether it is ensuring that you have a good title company, the right engineer, a good home inspector or locating missing documents, a good agent should facilitate every aspect of your Virginia home, farm, land and/or property sale.

Buying a Luxury Home: Purchase Ability

2006-08-27T19:54:00.000-07:00

Be prepared to demonstrate your ability to purchase through your resources and assets. Chase International [as quoted in Unique Homes.com] says that this is usually done "banker to banker to verify that buyers have funds available to close and to also source the origination of those funds."

Buying a Luxury Home: Chemistry

2006-08-26T19:08:00.000-07:00

Trust that your agent understands what you want and will steer you to properties that are a good match. If every home is a mismatch or the chemistry isn't there, jettison that agent.

Top producing VA Realtors and real estate agents will be able to assist you in the search for homes for sale that match your specific criteria.

Once you find that perfect property, your qualified Realtor will assist you in the very involved process of purchasing a home. The agent will prepare necessary papers for the legal transfer of property.

Should any question or tax issue arise during the sales process, your Realtor should be prepared to refer you to qualified professionals, including experienced lawyers or tax advisors.

Also, your agent will work with you and with any titling or escrow firms, mortgage lenders, and home inspectors until the transaction is done. The best agents will continue to assist you even after you have signed on the dotted line(s).

Buying a Luxury Home: Wants/Needs

2006-08-25T20:51:00.000-07:00

Clarify your wants versus your needs. Some agents have buyers make lists of "must haves" versus "optional" and "would be nice" preferences. With a good measure of self knowledge you'll have your very own compass to help guide you with your buying decision.

Buying a stately property in central VA or a home in the Virginia Beach area presents a plethora of options, be sure you have a good grasp of what matters most on your VA real estate preference list.

Buying a Luxury Home: Resale

2006-08-24T20:29:00.000-07:00

Don't forget resale. While it might not be on the top of your list at the moment, but one day you might very well be selling this property.

While it may be perfect for you, and that's your foremost concern, still consider what might have to be done in order to make it just as attractive to someone else.

Are there any local ordinance or zoning changes forthcoming that you don't mind, but might impact a future buyer?

Is the area itself a good location for younger couples or great for children, even if you don't have any?

Think outside the box and you might find out more about yourself and the property that you hadn't thought about upfront.

With your VA real estate professionals in Charlottesville, Richmond and Northern Virginia, our Realtors have the expertise with this very consideration.

Buying a Luxury Home: Communication

2006-08-23T13:10:00.000-07:00

Despite our best efforts, real estate agents are not good mind readers. Even though our top agents are professionals at matching buyers and homes, Realtors still rely on a good foundation of communication with sellers in order to improve the process.

Talk to your agent about everything that is important to you and even those things that you don't think our important. Encourage your agent to explore various items with the seller that you might assume to be automatic.

Working with one of our qualified Virginia real estate agents will aid your home buying process, but in many ways we still depend on you to foster a solid relationship.

Buying a Luxury Home: Location

2006-08-22T16:14:00.000-07:00

Location still determines value with waterfront areas, views and prestigious areas close to city centers topping the charts. Ask about future hot locations and be prepared to pay a premium for a platinum address.

Virginia Beach real estate continues to present some of the best homes for sale in the state, ask one of our VA Realtors to assist you with one of the the hottest property locations on the East Coast.

Buying a Luxury Home: Target Price

2006-08-19T08:19:00.000-07:00

You know your budget, price range and all the features that go into your ideal home, but do you know whether you are really getting a good deal for the money you're willing to spend?

Look beyond your target price to find out what property values and included acreage, amenities and upgrades exist in the area your target spending.

You might be looking in the $5 million bracket but to understand value and be confident with your offer you have to know what $3 million, $7 million or even $10 million buys.

View various luxury and upscale Virginia real estate price ranges at VA-Estates.com.

Buying a Luxury Home: Beyond the Basics

2006-08-17T11:23:00.000-07:00

Prices and comparisons don't tell the whole story. Catch the flavor of different areas by spending time with your agent just driving around and learning about the neighborhoods and properties.

Go back on your own as as well at different times of the day, particularly if you have children.

See what you might not have uncovered, for better or worse, the first time around. Talk to people that know the area. Stop by the local government offices or even the sheriff's office and find out first-hand what those that live in the area have to say about your desired location.

For neighborhood information and community links about various localities in the Commonwealth, see the area resources section for Charlottesville, Richmond and Northern VA at Virginia Estates.com.

Buying a Luxury Home: Know the Market

2006-08-14T12:11:00.000-07:00

A good agent will educate you about the market early in the process. How can you expect to make a smart decision about the market unless you understand the market, the neighborhood, prior sales and recent trends. Know what's been going on by doing the research and having your agent do his/her share. Find out about houses next door to the home you want to buy as well as current development. What type of economic indicators will have an impact on the market in the future.

Be sure to talk to your Virginia real estate agent about the local Charlottesville, Richmond, VA Beach or Northern VA market.

Buying a Luxury Home: Documents

2006-08-13T05:33:00.000-07:00

Review the purchase and sale documents before you hit the road. Familiarizing yourself early on puts you in the driver's seat when it comes time to write an offer.

Going downtown to the local courthouse and looking up the relevant documentation for the property you are interested as well as other neighborhood properties can squarely place you in the driver's seat, especially in a soft market.

Talk to one of our qualified luxury property and estate agents to assist you in this matter.

Buying a Luxury Home: Taxes

2006-08-10T03:42:00.000-07:00

Ask about transfer taxes, how much and who pays?

Buying a Luxury Home: Legal Matters

2006-08-09T13:38:00.000-07:00

How homes are bought or sold varies by state, county and region. Attorneys might handle the sale in some states and not at all in others. Sellers must vacate before closing in some, and a day or two after in others. [Courtesy of Unique Homes]

Take into consideraton the potential legal issues that might affect your purchase or sale and discuss them thoroughly with your Virginia real estate agent.

Buying a Luxury Home - Special Properties

2006-08-08T13:37:00.000-07:00

Special properties necessitate specific expertise. Ranches, waterfront, equestrian estates, all require specialized knowledge. You, and an agent who doesn't normally work in this arena, might not be aware of what such a property entails, including legal requirements and potential liabilities, but agents who specialize make that their business.

Find the VA Realtor that specializes in the type of luxury property that suits your particular fancy at Virginia Estates. Whether it is equestrian farm land, waterfront, golf or historic homes, Virginia Estates the expertise that works for you. Your future is our business.

Buying a Luxury Home - Agent Niche

2006-08-07T19:39:00.000-07:00

An expert in one market might not be an expert in another. Great agents are great agents, but if they don't work specifically in your target price range in your target location they will not be as valuable a resource as someone who does.

See Virginia Estates for your VA Real Estate Professionals.

Buying a Luxury Home - Calling on a Listing

2006-08-06T11:11:00.000-07:00

When you call about a listing, ask for the listing agent. Often buyers who call about a home wind up working with whomever answers the phone. Frequently this is a new agent.

By working with the agent, you are able to draw upon first-hand knowledge of the property and get direct answers to your questions.

Buying a Luxury Home: Selecting a Realtor

2006-07-27T04:31:00.000-07:00

Tip #2: Selecting a Realtor

Take the time to work as hard in finding an agent as you will in finding the right home. As you strive to be a professional in your particular field, expect the same from your Realtor and only accept the best. Check references and prior history of selling homes and assisting home buyers in Virginia or elsewhere.

Talk to potential agents about their experience and what they've learned in and about the real estate business over the years. Ask if they have a niche or specialize in a particular area of home sales and property purchases.

Are they up-to-date on their local assocation classes, education and ethics criteria mandated by the state? Have they had special training or sought advanced expertise?

Find out their general background, college education and professional career before becoming an agent or broker.

Talk to them about the local market and gleen how much they truly understand the area in which you wish to live.

Then talk about the properties they've sold in the past: how many upscale homes have they sold or helped people buy in the last year? Are they really active in the business and have they made real estate their full-time profession.

What price ranges do they work in and what is the total amount of property values they've assisted home buyers and sellers over the course of their lifetime?

Ask the right questions. Do your research upfront and you'll find an agent that is better prepared to work toward acheiving your goals over the long haul.

Take a look at our outline and overview that will assist you further in Selecting a Luxury Real Estate Agent, Professional Realtor or Broker.

What You Should Know Before Buying a Luxury Home

2006-06-25T16:06:00.000-07:00

Tip #1: Buying a Luxury Home

Luxury buyers typically do not pay cash. Funds that appear as cash assets are often taken from other assets or a financing arrangement that allows the buyer to leave their cash reserves and other portfolios intact. Luxury property buyers should specifically interview and search for lenders that are familiar with the needs of affluent buyers.

Virginia Estates, Professional Real Estate Services

You know the lifestyle you want and the Realtors at Virginia Estates can help you find it. On our site, you can explore private golf communities with amenities such as tennis, dining, and fitness that offer luxurious, upscale homes with fabulous waterfront living.

We have specialized agents dedicated to Virginia golf course real estate, gated communities, and planned communities with golf courses and great recreation nearby. If you already know the name of the private community or golf course country club property, give one of Realtors a call and we will assist you immediately...

888-268-5263

Selling On Your Own

2006-02-25T11:07:00.000-08:00

You can get rid of the broker, but you cannot get rid of the broker's work" is an old caution of those who intend to offer their homes "For Sale By Owner." Selling on your own is not an easy undertaking. It requires a significant amount of time to study the process, understand your obligations, and do some of the complicated work that a real estate agent does.

Virginia real estate agents also know the ins and outs of different properties and the specific laws that apply to each, whether that be residential, commercial and investment, industrial, agricultural, recreational, special purpose and/or public property.

Do you know the difference between real estate and real property? Are you familiar with the legal descriptions that are required per transaction? What about the methods of attachment for determing the basis for fixtures? Don't forget the rights, privileges and improvements that belong to, and pass with the transfer of property -- better known as appurtenances.

In addition, selling on your own requires extra help from outside professionals, such as Realtors, accountants, financial institutions, appraisers, developers, tax specialists or attorneys for some of the jobs that require specific expertise.

The business is subect to various laws, including board regulations as well as professional and personal ethics that are important to abide by during the sale of your home.

Get more information on selling your home or purchasing real estate in Virginia.

How To Evaluate An Agent

2006-01-13T02:31:00.000-08:00

Without any obligation, you can invite local Realtors to visit your home and give you a listing presentation about why they're the best ones to market it for you. Two to three presentations will probably give you a good opportunity for choice. A listing presentation includes having the Realtors review with you the reasons why you should list with that particular individual, and providing you with information that will assist you in making initial decisions about selling your home. Recent laws in every state have defined the duties of someone specifically retained as a real estate agent. Most states require a real estate agent to explain his or her role at the outset of any conversation. A professional agent will promptly provide this such a disclosure.

Look for an agent who:

Is a member of the local board or association of Realtors
Explains and discloses agency relationships [the role of the agent, i.e., who they are representing - the buyer or the seller] early on in the process at "serious first contact."
Advises you on how to prepare your home for the market
Shows some enthusiasm for your property, listens attentively, instills confidence, operates in a professional manner, and has a complimentary personality style to yours.
Has research your property in the public records and the MLS.
Brings data on nearby homes that have sold [or failed to sell] recently.

The following are important questions to ask a potential agent:

Are you a Realtor?
Do you have an active real estate license in good standing? To check this information, you can check with your state's governing agency.
Do you belong to the Multiple Listing Service [MLS] and /or a reliable online homebuyer's search service? Multiple Listing services are cooperative information networks of Realtors that provide descriptions of most of the houses for sale in a particular regions. If there's a nearby MLS, how often do you cooperate with other local brokers on a sale?
What have you listed or sold in this neighborhood lately?
Do you cooperate with buyer's brokers?
What share of the commission with you offer a cooperating broker who finds the buyers?

And in addition to the criteria mentioned above, there are a number of very important reasons you will typically prefer to work with a Realtor. Among them is the fact that they adhere to the NAR's highest standards of ethical conduct and professional training.

What a Realtor Will Do For You

2005-12-30T09:45:00.000-08:00

Some of the duties your REALTORS will perform for you include:

Walk through the process of selling your home from beginning to end.
Provide comparable information about the prices for which other properties have sold and analyzing data for you to gain a true comparison.
Supply information regarding local customs and regulations you may want to consider.
Share information about your home through the Multiple Listing Service and on the Internet.
Place advertisements for your home.
Field phone calls.
"Qualify" potential buyers to make sure they would be financially able to buy your property.
Negotiate the sales contract.
Alert you to potential risks.
Comply with the disclosures required by law.
Provide you with an estimate of the closing costs you will incur.
Help you prepare for a smooth closing of the transaction.

Who is A Realtor

2005-12-14T02:25:00.001-08:00

The terms agent, broker and REALTOR are often used interchangeable, but have very different meanings. For example, not all agents (also called salespersons) or brokers are REALTORS. Learn who is a REALTOR and the reasons why you should use one.

As a prerequisite to selling a real estate, a person must be licensed by the state in which they work, either as an agent / salesperson or as a broker. Before a license is issues, minimum standards for education, examinations and experience, which are determined on a state-by-state basis, must be met.

After receiving a real estate license, most agents go on to join their local board or association of REALTORS and the NATIONAL ASSOCIATION OF REALTORS, the world's largest professional trade association. They can then call themselves REALTORS. The term "REALTORS" is a registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS and subscribe to its strict Code of Ethics (which in many cases goes beyond state law).

It is the REALTORS who share the information on the homes they are marketing, through a Multiple Listing Service (MLS). Working with a REALTOR who belongs to an MLS will give you access to the greatest number of homes.

Courtesy of Charlottesville VA Realtor Richard Walden and the Charlottesville Area Association of REALTORS.

Choosing A Realtor

2005-12-08T11:53:00.000-08:00

The Top Five Things You Should Know...

- Look for an agent who is a member of the local board or association of Realtors.

- An agent should explain and disclose their role and who they represent at the serious first contact.

- The agent should advise you on how to prepare your home for the market.

- Be sure the professional shows enthusiasm, listens well, instills confidence and has a personality that is complimentary to yours.

- The agent should research your property and provide data on nearyb homes that have or have not sold recently.

Virginia Estates, Homes, Farms and Land