Virginia Real Estate and Musings: January 2009

FREE Hampton Roads MLS Search, Foreclosures, Area Information - NO REGISTRATION REQUIRED!

Description and Features
Visit All757.com today and search all the MLS listings, foreclosures, rentals and area information for free with no obligation and no registration required! Search at your leisure without any salesperson contacting you!
Links

**************************************************************************************

realtor technology spotlight awardTina Merritt and her Associates. can be reached at email:  tina@nestrealtygroup.com or 757-287-6338.

Our Network consists of both buyer and listing specialists helping buyers and sellers in Southeast Virginia, Hampton Roads, Virginia Beach, Chesapeake, Norfolk, Portsmouth, Suffolk, Isle of Wight County, Hampton, Newport News and Poquoson, Virginia.  In Southwest Virginia, the New River Valley, Blacksburg, Christiansburg, Radford, Pulaski, Dublin, Floyd, Narrows, Pembroke, Pearisburg, Glen Lyn, Rich Creek, Check, Hiwassee, Indian Valley, Parrott, Newport, Shawsville, Pilot, McCoy, Long Shop, Fairlawn, Wythe, Draper, Willis, Sowers, Elliston, Eggleston, Ironto, Riner, Auburn, Rogers, Giles County, Montgomery County, Floyd County, Pulaski County.

Visit our website:  NestRealtyGroup.com

 

delicious icon digg icon facebook icon rss icon twitter icon technorati icon stumble upon icon flickr icon

 

0 comments • Tina Merritt - Virginia Real Estate • January 27 2009 12:17PM

Adorable and Affordable Home in Carrollton Virginia $134,800

Photo Gallery





View More Photos
Description and Features
Completely rebuilt 3 bedroom ranch with spacious front porch! County water/sewer just hooked up! New roof, new hvac, new hot water heater, new kitchen and bathroom, new carpet, fresh paint and more! Neutral colors throughout. Seller pays all closing costs for buyer.
Bedrooms:3
Bathrooms:1
Parking Spaces:4
Square Feet:1000
Year Built:1958
Floors:1
MLS #:0850861
Location
Click to view map: 21425 Brewers Neck Blvd. Carrollton VA 23314
Links

**************************************************************************************

realtor technology spotlight awardTina Merritt and her Associates. can be reached at email:  tina@nestrealtygroup.com or 757-287-6338.

Our Network consists of both buyer and listing specialists helping buyers and sellers in Southeast Virginia, Hampton Roads, Virginia Beach, Chesapeake, Norfolk, Portsmouth, Suffolk, Isle of Wight County, Hampton, Newport News and Poquoson, Virginia.  In Southwest Virginia, the New River Valley, Blacksburg, Christiansburg, Radford, Pulaski, Dublin, Floyd, Narrows, Pembroke, Pearisburg, Glen Lyn, Rich Creek, Check, Hiwassee, Indian Valley, Parrott, Newport, Shawsville, Pilot, McCoy, Long Shop, Fairlawn, Wythe, Draper, Willis, Sowers, Elliston, Eggleston, Ironto, Riner, Auburn, Rogers, Giles County, Montgomery County, Floyd County, Pulaski County.

Visit our website:  NestRealtyGroup.com

 

delicious icon digg icon facebook icon rss icon twitter icon technorati icon stumble upon icon flickr icon

 

0 comments • Tina Merritt - Virginia Real Estate • January 27 2009 09:26AM

Courthouse Woods - Home in Virginia Beach $269,800

Photo Gallery





View More Photos
Description and Features
Popular Courthouse Woods! \"The Trees are Forever\". Planned community offering beautifully landscaped entrance, treed common areas and no through traffic. Terrific floorplan with this 2 story transitional offers family room with fireplace, eat-in kitchen and double-doored master suite. Pergo-style flooring throughout first floor. Vaulted ceiling in living room. All appliances convey! Fenced backyard and 2 car garage.
Bedrooms:3
Bathrooms:2.5
Parking Spaces:4
Square Feet:1600
Year Built:1998
Floors:2
MLS #:0852523
Location
Click to view map: 3116 Crosstimbers Way Virginia Beach VA 23456
Links

**************************************************************************************

realtor technology spotlight awardTina Merritt and her Associates. can be reached at email:  tina@nestrealtygroup.com or 757-287-6338.

Our Network consists of both buyer and listing specialists helping buyers and sellers in Southeast Virginia, Hampton Roads, Virginia Beach, Chesapeake, Norfolk, Portsmouth, Suffolk, Isle of Wight County, Hampton, Newport News and Poquoson, Virginia.  In Southwest Virginia, the New River Valley, Blacksburg, Christiansburg, Radford, Pulaski, Dublin, Floyd, Narrows, Pembroke, Pearisburg, Glen Lyn, Rich Creek, Check, Hiwassee, Indian Valley, Parrott, Newport, Shawsville, Pilot, McCoy, Long Shop, Fairlawn, Wythe, Draper, Willis, Sowers, Elliston, Eggleston, Ironto, Riner, Auburn, Rogers, Giles County, Montgomery County, Floyd County, Pulaski County.

Visit our website:  NestRealtyGroup.com

 

delicious icon digg icon facebook icon rss icon twitter icon technorati icon stumble upon icon flickr icon

 

0 comments • Tina Merritt - Virginia Real Estate • January 27 2009 09:12AM

Townhome off Shore Drive in Virginia Beach

Photo Gallery





View More Photos
Description and Features
Beautifully renovated townhome in a great location just off Shore Drive. Convenient to Little Creek NAB, beaches, shopping and schools. New eat-in kitchen with new appliances, new carpet and fresh paint throughout. Fenced yard with storage closet. Lake access just a few steps away!
Bedrooms:3
Bathrooms:1.5
Parking Spaces:2
Square Feet:1200
Year Built:1980
Floors:2
MLS #:0852316
Location
Click to view map: 2133 Kimball Circle Virginia Beach VA 23455
Links

**************************************************************************************

realtor technology spotlight awardTina Merritt and her Associates. can be reached at email:  tina@nestrealtygroup.com or 757-287-6338.

Our Network consists of both buyer and listing specialists helping buyers and sellers in Southeast Virginia, Hampton Roads, Virginia Beach, Chesapeake, Norfolk, Portsmouth, Suffolk, Isle of Wight County, Hampton, Newport News and Poquoson, Virginia.  In Southwest Virginia, the New River Valley, Blacksburg, Christiansburg, Radford, Pulaski, Dublin, Floyd, Narrows, Pembroke, Pearisburg, Glen Lyn, Rich Creek, Check, Hiwassee, Indian Valley, Parrott, Newport, Shawsville, Pilot, McCoy, Long Shop, Fairlawn, Wythe, Draper, Willis, Sowers, Elliston, Eggleston, Ironto, Riner, Auburn, Rogers, Giles County, Montgomery County, Floyd County, Pulaski County.

Visit our website:  NestRealtyGroup.com

 

delicious icon digg icon facebook icon rss icon twitter icon technorati icon stumble upon icon flickr icon

 

1 comment • Tina Merritt - Virginia Real Estate • January 27 2009 08:31AM

Affordable Renovated Colonial in Chesapeake Virginia

Photo Gallery





View More Photos
Description and Features
Nicely renovated and ready to move in! The home has new carpet and floors, open spacious kitchen.
Bedrooms:3
Bathrooms:2
Parking Spaces:2
Square Feet:1200
Year Built:1910
Floors:2
MLS #:0900838
Location
Click to view map: 1161 Commerce Ave. Chesapeake VA 23324
Links

**************************************************************************************

realtor technology spotlight awardTina Merritt and her Associates. can be reached at email:  tina@nestrealtygroup.com or 757-287-6338.

Our Network consists of both buyer and listing specialists helping buyers and sellers in Southeast Virginia, Hampton Roads, Virginia Beach, Chesapeake, Norfolk, Portsmouth, Suffolk, Isle of Wight County, Hampton, Newport News and Poquoson, Virginia.  In Southwest Virginia, the New River Valley, Blacksburg, Christiansburg, Radford, Pulaski, Dublin, Floyd, Narrows, Pembroke, Pearisburg, Glen Lyn, Rich Creek, Check, Hiwassee, Indian Valley, Parrott, Newport, Shawsville, Pilot, McCoy, Long Shop, Fairlawn, Wythe, Draper, Willis, Sowers, Elliston, Eggleston, Ironto, Riner, Auburn, Rogers, Giles County, Montgomery County, Floyd County, Pulaski County.

Visit our website:  NestRealtyGroup.com

 

delicious icon digg icon facebook icon rss icon twitter icon technorati icon stumble upon icon flickr icon

 

0 comments • Tina Merritt - Virginia Real Estate • January 27 2009 08:16AM

Assessing the SEO Practices of the Top 50 Real Estate Companies

SEO StudyRandi Thornton of PCMS Consulting recently came out with this study analyzing the SEO practices of the top 50 real estate companies.  The study is very thorough and very insightful.

The study evaluated traffic ranking, search terms, Google page rank, number of pages indexed by Google, meta descriptions, page titles, and Web site validation errors.

Unfortunately, only 6 of the top 50 achieved a top SEO ranking on Google.  Who had the best SEO practices?  GMAC Real Estate landed on top.

The rest of the top 6 are:  Prudential Douglas Elliman Real Estate, Crye-Leike Realtors, John L. Scott Real Estate, Hanna Holdings Inc., The Long & Foster Companies, Northwood Realty Services, Prudential Georgia Realty, and Ebby Halliday, Realtors.

This study is a great read and should be an information source for any agent who is thinking about changing Brokerage firms.  You can access the entire study by clicking here.

**************************************************************************************

realtor technology spotlight awardTina Merritt and her Associates. can be reached at email:  tina@nestrealtygroup.com or 757-287-6338.

Our Network consists of both buyer and listing specialists helping buyers and sellers in Southeast Virginia, Hampton Roads, Virginia Beach, Chesapeake, Norfolk, Portsmouth, Suffolk, Isle of Wight County, Hampton, Newport News and Poquoson, Virginia.  In Southwest Virginia, the New River Valley, Blacksburg, Christiansburg, Radford, Pulaski, Dublin, Floyd, Narrows, Pembroke, Pearisburg, Glen Lyn, Rich Creek, Check, Hiwassee, Indian Valley, Parrott, Newport, Shawsville, Pilot, McCoy, Long Shop, Fairlawn, Wythe, Draper, Willis, Sowers, Elliston, Eggleston, Ironto, Riner, Auburn, Rogers, Giles County, Montgomery County, Floyd County, Pulaski County.

Visit our website:  NestRealtyGroup.com

 

delicious icon digg icon facebook icon rss icon twitter icon technorati icon stumble upon icon flickr icon

 

10 comments • Tina Merritt - Virginia Real Estate • January 24 2009 09:18AM

A Snow Day...Without Snow!

snow dayTuesday, January 20th 2009 will go down in history in our area.  Not because of the inauguration though....

Monday, January 19th was all abuzz in Hampton Roads, Virginia.  When I went to volunteer at the preschool across the street, I asked these sweet children if they knew of the "big event" taking place the following day.  All their hands went up but they couldn't hold in their excitement as they simultaeously yelled out, "It's going to snow tomorrow!".

Yes, in Virginia Beach, it seems that getting snow is a more exciting event than getting a new President.

On the Monday evening news, the top story was the upcoming storm which included "team coverage" spread throughout Hampton Roads.  They covered it all.....how VDOT was preparing to sand the roads that night, how landscaping businesses were putting plows on their trucks to help with snow removal, how the temperatures were dropping by the nanosecond and the "storm of the year" could be upon us soon!

Now, keep in mind, our "storm of the year" was predicted to bring 1 - 5 inches of white stuff.  Wednesday's forecast pushed temperatures back up into the 40's so any accumulation we received would be gone the next day.

I woke up at 6am.  Looked out the window.  No snow.  My 6 year old son woke up.  He looked out the window.  His eyes filled up with tears.

We turned on the TV to see where our snow was.  (It MUST have gotten lost!).  Fear not, our local weatherman assured us, the snow was still coming.  Some nasy coldfront from the north was getting in the way of our sweet southern snow and it would be here momentarily.  Then, I noticed the alerts streaming across the bottom of the TV screen.  Was I really seeing what I thought I saw?  Were the schools really closed?

Yes, 90% of the schools in our area closed.  Now, please remember, there wasn't even a flurry coming down in our area.  No rain, no snow, no ice.  But, our schools were closed.

So, we bunkered down and waited for the storm.no snow

And waited...........

Maybe we'll get an inch or so.......

And waited..........

Maybe we'll get flurries..............

And waited..............

One flurry?...........Rain?...............ANYTHING?????????

Nope.  Nothing.  Nada.  Nil.

The sun came out.  Kids were out riding their bikes.  Neighbors were walking their dogs.  The wind picked up a little and a few surfers went out into the ocean.  Just another normal day in Virginia Beach.

Tina in Virginia

 

**************************************************************************************

realtor technology spotlight awardTina Merritt and her Associates. can be reached at email:  tina@nestrealtygroup.com or 757-287-6338.

Our Network consists of both buyer and listing specialists helping buyers and sellers in Southeast Virginia, Hampton Roads, Virginia Beach, Chesapeake, Norfolk, Portsmouth, Suffolk, Isle of Wight County, Hampton, Newport News and Poquoson, Virginia.  In Southwest Virginia, the New River Valley, Blacksburg, Christiansburg, Radford, Pulaski, Dublin, Floyd, Narrows, Pembroke, Pearisburg, Glen Lyn, Rich Creek, Check, Hiwassee, Indian Valley, Parrott, Newport, Shawsville, Pilot, McCoy, Long Shop, Fairlawn, Wythe, Draper, Willis, Sowers, Elliston, Eggleston, Ironto, Riner, Auburn, Rogers, Giles County, Montgomery County, Floyd County, Pulaski County.

Visit our website:  NestRealtyGroup.com

 

delicious icon digg icon facebook icon rss icon twitter icon technorati icon stumble upon icon flickr icon

 

6 comments • Tina Merritt - Virginia Real Estate • January 22 2009 08:06PM

Do You Know Anyone Who is "Talkin' Walkin'"?

Aaron Auxier wrote a thought provoking post today entitled:  "The FICO Forgivess Act of 2012.  Principle reduction Bailouts for Homeowners. Someone better start paying attention".

Aaron's post discussed the "Talkin' Walkin'" going on in Las Vegas.  Homeowners who can afford their mortgage payments, but are choosing to walk away from their homes because of the significant drop in value.

I myself have heard of couples transferring debt and assets in order to prepare to "walk-away".

Never did I think I could understand the reasoning behind this...but I do.

A home is a financial investment.  What do you do if you open a business and it continues to bleed money each and every month?  You cut your losses and close the business.  Do you do the same thing with a home that loses value each and every month while your outlay remains the same or increases?

If a homeowner paid $400,000 for their home and now the home next door just sold for $200,000, the homeowner is looking to be making payments for 20 years for.....not?  Why not walk away?  Their credit will be restored from a foreclosure in less than that period of time.

Some will say that the homeowner has an ethical and moral responsibility to pay the obligation they signed up for.  Well, is it more ethical and moral to pay the bank or look out for the financial well being of your family?

What more important?  A FICO score or financial security?  I think it's financial security.

Tina in Virginia

 

**************************************************************************************

realtor technology spotlight awardTina Merritt and her Associates. can be reached at email:  tina@nestrealtygroup.com or 757-287-6338.

Our Network consists of both buyer and listing specialists helping buyers and sellers in Southeast Virginia, Hampton Roads, Virginia Beach, Chesapeake, Norfolk, Portsmouth, Suffolk, Isle of Wight County, Hampton, Newport News and Poquoson, Virginia.  In Southwest Virginia, the New River Valley, Blacksburg, Christiansburg, Radford, Pulaski, Dublin, Floyd, Narrows, Pembroke, Pearisburg, Glen Lyn, Rich Creek, Check, Hiwassee, Indian Valley, Parrott, Newport, Shawsville, Pilot, McCoy, Long Shop, Fairlawn, Wythe, Draper, Willis, Sowers, Elliston, Eggleston, Ironto, Riner, Auburn, Rogers, Giles County, Montgomery County, Floyd County, Pulaski County.

Visit our website:  NestRealtyGroup.com

 

delicious icon digg icon facebook icon rss icon twitter icon technorati icon stumble upon icon flickr icon

 

14 comments • Tina Merritt - Virginia Real Estate • January 12 2009 08:29PM

Ready to Buy a Home? Know Your Buyer Broker's Duties

This is an excellent post written by Brian Block on how to find and work with a Buyer's Broker.

Tina in Virginia

Via Brian Block -- Northern Virginia & D.C. Real Estate (RE/MAX Allegiance):

Brian Block business cardAre you ready to start along the path to purchase a home? 

 

If so, it's likely that you'll hire a real estate broker to help you find the property, place an offer, negotiate the deal, and ultimately purchase your next home.

 

Before you sign the last page and place your initials on all the pages of the Buyer Broker Agreement (officially called "Exclusive Right to Represent Buyer Agreement" here in Virginia), make sure you familiarize yourself with the duties of the real estate broker whom you hire. 

 

Of course you expect that the buyer broker (or buyer agent) will help you find a home.  What else are they obligated to do when you sign the paperwork?

 

 

BUYER BROKER DUTIES:

  • Seek property at a price and terms acceptable to the Buyer

Price is RightBy signing a Buyer Broker Agreement, the broker agrees to represent you and your interests.  The broker or agent should be showing you homes that interest you, not ones that interest him or her.  If you want 3 bedrooms, a fireplace, and a two car garage, and your agent spends a day showing you some 2 bedroom places without a garage or fireplace, it's time to fire that fellow and find someone who will listen to your needs.  Set your price range and give your broker a list of the amenities and features you want and need so that they can best help you.

 

 

  • Assist in the drafting and negotiating of offers and counteroffers

ContractUltimately, you select the price and terms that you want to offer on any particular home.  The buyer agent will provide you the pricing data and other information to help you make an informed decision.  This may include data on other comparable homes that have sold, market conditions, and potentially any information the agent has about the neighborhood or sellers. 

Your offer, and subsequently the ratified contract, is a legal document.  Make sure you ask your broker any questions you have before signing and obtain legal counsel if you deem it necessary or if your broker does not know or is not able to provide an answer to your question.

Negotiations occur throughout the transaction.  Choosing a Good Negotiator for Your Real Estate Deal is crucial.

 

  • Help establish strategies for accomplishing the Buyer's objectives

Your buyer broker represents YOU!  As such, they should discuss with you various strategies for getting the home you want at the price and terms that you want.  This may include assistance on determining an offering price, what contingencies to include, setting timeframes, and other strategies.

 

  • Provide reasonable assistance to facilitate the settlement of the purchase contract

Throughout the process, your buyer broker should communicate with your lender, the listing agent, the settlement company, inspectors, and other people to make sure that they are all doing what they need to do in a timely manner to ensure you reach settlement.  Make sure to read Who Are the Players? The Team of Professionals Involved in Your Real Estate Deal

  • Receive and present in a timely manner all written offers or counteroffers to and from the Buyer

Time is of the essence!

 

 

Time is of the essence in all real estate deals.  Miss a deadline, or delay on submitting an offer and the whole deal can be shot.  Make sure that your buyer broker makes time for you!

 

 

 

 

 

 

  • Disclose to the Buyer all material facts related to the property or concerning the transaction of which they have actual knowledge

Buyer brokers are required to disclose information about the property that they actually know which can be material in your making a decision about whether or not to purchase the home or what price to offer.  If they don't know it, they can't very well disclose it.  Virginia is still a caveat emptor state. 

 

 

  • Account in a timely manner for all money and property received in which the Buyer has or may have an interest

Account for your money

 

You want to know where your money is and where it's going.  Ask your buyer broker what happens with your earnest money deposit.

 

 

 

  • Maintain the confidentiality of your personal and financial information

 

ConfidentialityAnything you tell your buyer broker will be kept confidential (unless of course, you confess to murder or treason).  Even after the transaction is over or the brokerage relationship is terminated.  This duty is very important.  Don't be afraid to discuss important details of your personal and financial information with your buyer agent.  This information will be very important for them to assist you fully in purchasing a home.

 

 

To inquire about buying a Northern Virginia or D.C. home, please call me at 703-626-0715 or e-mail me at brian@brianblock.com for a confidential appointment to discuss your needs.

**************************************************************************************

realtor technology spotlight awardTina Merritt and her Associates. can be reached at email:  tina@nestrealtygroup.com or 757-287-6338.

Our Network consists of both buyer and listing specialists helping buyers and sellers in Southeast Virginia, Hampton Roads, Virginia Beach, Chesapeake, Norfolk, Portsmouth, Suffolk, Isle of Wight County, Hampton, Newport News and Poquoson, Virginia.  In Southwest Virginia, the New River Valley, Blacksburg, Christiansburg, Radford, Pulaski, Dublin, Floyd, Narrows, Pembroke, Pearisburg, Glen Lyn, Rich Creek, Check, Hiwassee, Indian Valley, Parrott, Newport, Shawsville, Pilot, McCoy, Long Shop, Fairlawn, Wythe, Draper, Willis, Sowers, Elliston, Eggleston, Ironto, Riner, Auburn, Rogers, Giles County, Montgomery County, Floyd County, Pulaski County.

Visit our website:  NestRealtyGroup.com

 

delicious icon digg icon facebook icon rss icon twitter icon technorati icon stumble upon icon flickr icon

 

1 comment • Tina Merritt - Virginia Real Estate • January 11 2009 03:48PM

The Seller's Just Not That Into You......

Dear Mr. Buyer,

Thank you for taking the time to write an offer on this property.  In our market, the seller is grateful to have received an offer on their home; even at well below the asking price.  I'm sorry to tell you that the seller is not accepting your offer.  He's just not that into you.

Why, you ask?

First of all, you aren't a strong buyer.  You aren't making a down payment and you are requesting the seller to pay all of your closing costs.  While you provided a pre-approval letter, low/no-downpayment financing is difficult to get right now and you are asking the seller to take their house off the market for a loan which has a good chance of never being approved.  Without any money to put down, there aren't any other options if your loan ratios end up being a few dollars off (except for the seller spending even more money to buy your rate down). To take their home off the market and await the close of escrow will cost the seller a few thousand dollars...are you willing to risk the same amount to buy this home?

So, let's add this all up.  Your offered price is well below the asking price (by the way, the asking price is very much in line with recent sales).  You aren't offering a decent amount of earnest money.  You need every dime of closing cost assistance out of the sellers and aren't a strong candidate for a mortgage.  You are requesting a home inspection (which is expected), but being that you are cash-poor, will probably nickel and dime the seller on any repairs the inspector finds.  Because your loan is a greater risk to the bank, the appraiser & underwriter will be more stringent on the condition and value of this property.

I'm sorry.  The seller just doesn't feel you are worth the risk of taking their home off the market.    Try saving up some money and being better prepared to own a home.  Better yet, try working with a buyer's agent who is familiar with the art of negotiation.

Tina in Virginia

 

**************************************************************************************

realtor technology spotlight awardTina Merritt and her Associates. can be reached at email:  tina@nestrealtygroup.com or 757-287-6338.

Our Network consists of both buyer and listing specialists helping buyers and sellers in Southeast Virginia, Hampton Roads, Virginia Beach, Chesapeake, Norfolk, Portsmouth, Suffolk, Isle of Wight County, Hampton, Newport News and Poquoson, Virginia.  In Southwest Virginia, the New River Valley, Blacksburg, Christiansburg, Radford, Pulaski, Dublin, Floyd, Narrows, Pembroke, Pearisburg, Glen Lyn, Rich Creek, Check, Hiwassee, Indian Valley, Parrott, Newport, Shawsville, Pilot, McCoy, Long Shop, Fairlawn, Wythe, Draper, Willis, Sowers, Elliston, Eggleston, Ironto, Riner, Auburn, Rogers, Giles County, Montgomery County, Floyd County, Pulaski County.

Visit our website:  NestRealtyGroup.com

 

delicious icon digg icon facebook icon rss icon twitter icon technorati icon stumble upon icon flickr icon

 

7 comments • Tina Merritt - Virginia Real Estate • January 11 2009 02:06PM