Northern Virginia Real Estate Podcast With Jody Donaldson podcast

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Does the Northern Virginia Market Favor Buyers?

vor 9 years

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Looking to sell your home? Get a free home value report Buying a Virginia home? Search all homes for sale Because the weather has been miserable with near-record days of rain, we've seen fewer showings than we did earlier in the spring. Hang in there though, because we've still got plenty of buyers and low inventory. Compared to last April, both sales and units sold were up 8.99% and 6.6%, respectively. The average for days on market dropped from 53 to 51. This April compared to last April, the number of new listings was down. Additionally, closed sales this April shot up 24.7% from the month before. In Loudoun county, the number of units sold fell 1.42%, but the average for days on market improved to 49 days this year from 68 last year. Nationally, home prices are up 6%, and up 2.6% compared to last year. “ HOMEOWNERSHIP IS A GREAT INVESTMENT, BOTH FINANCIALLY AND EMOTIONALLY. ” Looking ahead to future projections, waiting until next year could cost you almost $200 more in your mortgage payment. This proves why homeownership is a great investment both financially and emotionally. Harvard University's Joint Center of Housing Studies recently released a study showing the top reasons why. Financial Reasons: Financially, housing is typically the one leveraged investment available, because you're paying for housing, whether you own or rent. Housing is usually a form of forced saving. There are tax benefits to owning. Owning is a hedge against inflation. Emotional Reasons: Owning a home is a good way to build wealth that can be passed along to your family. You have an actual structure providing space and safety for your family. You have control over your space, like renovations or updates. Owning a home provides a place to raise children and give them a good education. Although rates are still low, waiting to buy could be costly for your monthly mortgage payment. Call your lender today and get pre-qualified. If you have any questions about real estate in Northern Virginia, please don't hesitate to reach out to me!…

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What’s the Secret to Making Your Northern Virginia Home Stand out from the Crowd?

vor 9 years

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Looking to sell your home? Get a free home value report Buying a Virginia home? Search all homes for sale We’ve all hear the term “curb appeal,” but does it really help sell your home? Homes that look good from the street - that is, homes with good curb appeal - should help you get a higher price and take less time to sell. To improve your curb appeal, you don’t need to make a bunch of renovations to the exterior of your home. We’re talking about regular maintenance and some extra beautifying tasks that will go a long way. The question becomes which projects will give you the best payoff? Here’s a list of what we think is worth your time: 1. Wash the front of your house. Before you scrape any paint or plant more azaleas, wash the dirt, mildew, and general grunge off the front of your house. This will help show your house in the best light. A power washer is an ideal way to do this, but a bucket of soapy water and a long-handle, soft bristle brush can get the job done as well. Don’t forget to take care of the sidewalks and driveway while you’re at it! You should also wash your windows inside and out, wipe the cobwebs from the eaves, and wash out your downspouts. Don’t forget to wash off your garage as well. 2. Freshen the paint job. After power washing or scrubbing the front, the most commonly offered advice I share with clients is to give the exterior of the home a good paint job. Buyers will instantly notice it and appraisers will value it. Painting can be an expensive and time-consuming facelift, but it is usually well-worth the effort. 3. Address the roof. The condition of your roof is one of the first things buyers notice when they drive up and that appraisers assess. Missing, faded, or curled shingles add nothing to the look or value to the house. If your neighbors have maintained or replaced their roofs recently, yours will look especially shabby. If the roof is in obvious disrepair, it’s in your best interest to bite the bullet and invest in new shingles. 4. Clean up the yard. A well-manicured lawn with fresh mulch and pruned shrubs boosts the curb appeal of any home. Replace your overgrown bushes with leafy plants and colorful annuals, surround bushes and trees with dark mulch to give a rich feel to the yard, put a crisp edge on garden beds, pull the weeds and invasive vines, and plant a few geraniums in the pots. You also need to green up your grass with lawn food and water, cover any bare spots with seeds and sod, and get rid of the crab grass and mow it regularly . 5. Add a splash of color. Even a little color attracts and pleases the eyes of would-be buyers. Plant a tulip border in the fall that will bloom in the spring, and dig a flower bed by the mailbox and plant some pansies. Consider placing a colored bench or Adirondack chair on the front porch as well. These colorful touches won’t add to the value of your house, but beautiful colors enhance the curb appeal and can help you sell your house faster. 6. Spruce up your mailbox. An upscale mailbox, architectural house numbers, or address plaques can make your house stand out. You can get a really nice mailbox for anywhere from $50-150, or you can just repaint your current one and add new fresh home numbers to it as well. Just make sure any changes you make comply with the HOA guidelines for your neighborhood. 7. Fence yourself in. A picket fence with a garden gate to frame the yard is an asset. Not only will it add visual punch to your property, but appraisers will give extra value to a fence in great condition. Expect to pay around $2,000-3,500 for a professionally installed gated picket fence. If you already have a fence, make sure it is clean and in great condition. Again, be sure to check with your local HOA before you make any purchases. 8. Maintenance is a must. Nothing looks worse from the curb and sets off subconscious alarms like hanging gutters, missing bricks, or peeling paint. Not only can these deferred maintenance items damage your home, but they could decrease the value of your home by as much as 10%. Doing these things will make your house stand out from the competition , and will help you put your best foot forward when you list your home on the market.…

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Do Guaranteed Home Sale Programs Really Work in Northern Virginia?

vor 9 years

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Looking to sell your home? Get a free home value report Buying a Virginia home? Search all homes for sale You’ve seen the signs: I’ll sell your home in 60 days, or I’ll buy it. I want to take a minute and share with you how those programs work, and what you should be aware of when considering this type of program. Personally, I don’t have a guaranteed sale program. I can’t offer something in good conscience that, in my opinion, is a bait and switch marketing tactic . I have nothing against the Realtors that use these programs, and a lot of the most successful agents in this country have some form of this program in their business plan. However, if you were to talk with several of these agents, very few end up having to buy the home from their client. Even fewer of the clients choose to list their home under these programs. That’s partly due to what’s in the fine print. There are several criteria that the seller must agree and comply with in order to make these programs work. Some of these programs include an agreed upon list price , which is solely based on recently sold properties and not current market conditions. Other programs include a pre-agreed upon price reduction every 7 days , and that can be a significant amount. Still more programs include an upfront marketing fee of $1,500 to $2,500 and pay for staging and any other things the Realtor recommends. In addition, the pre-agreed upon price that the agent would pay for the home is usually well below market value and includes the same seller commissions and fees as a regular transaction. The reality is that these types of programs might work for a small percentage of people, but ultimately, guaranteed sale programs are a marketing tool to get the agent’s phone to ring , and it often works. I’ve talked to several who use these programs, and they all say that it’s a huge lead generation system for them. Bottom line, if it seems too good to be true, it probably is . If you’re a motivated seller and you’re willing to do what your agent recommends, price your home aggressively based on the current market conditions, and combine that with a fantastic marketing plan, then your home should sell. If you have any questions, please don’t hesitate to give me a call or send me an email. I look forward to hearing from you!…

1
What Does a Home Truly Cost in Northern Virginia?

vor 10 years

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Looking to sell your home? Get a free home value report Buying a Virginia home? Search all homes for sale Today we are excited to talk about both the perceptions, and realities, of homeownership in Northern Virginia. The National Association of Realtors recently released a report saying Americans at every age and income level agree that homeownership is both a smart financial decision, and part of the American dream. We've talked about some obstacles to homeownership in the past, but as studies like this have shown, many obstacles are perceived. They aren't real. A recent study by Fannie Mae revealed that many consumers are either unsure or misinformed regarding the minimum requirements to obtain a mortgage. We are going to break down three such challenges today. 1. Down payment perceptions Many renters have mentioned that the lack of an adequate down payment is the thing that most prevents them from buying. According to the Fannie Mae report mentioned above, 40% of all renters don't know what kind of down payment is required, while 15% think you need at least 20% down and 4% believe at least 10% down is required. The reality is, there are tons of programs out there from Fannie Mae, Freddie Mac, and FHA that offer 3% down programs. VA and USDA loans offer 0% down programs. The average down payment for a first-time buyer is 6%. 2. Credit score perceptions Many renters have also mentioned that the lack of a good credit score is the thing preventing them from buying. According to the same Fannie Mae report, 54% of all renters don't know what credit score is required, and 5% think you need at least a score of 740. Actually, many mortgages are granted to purchasers with a score below 700. The average credit score for FHA loans is 687 , and the average score on all loans is 722. 3. Debt-to-income ratio perceptions Many renters say they carry too much debt, but 59% of renters surveyed by Fannie Mae don't even know what ratio is acceptable. Lenders like to see a back-end ratio that does not exceed 36% of the buyer's stable monthly income. All of this leads us to the bottom line: Don't let a lack of knowledge or misinformation keep you from buying this year. If you don't know where to start, or have any other questions about the market, we would be glad to help. Give us a call or send us an email. We look forward to being in touch!…

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Seasons Greetings from the Donaldson Team

vor 10 years

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Looking to sell your home? Get a free home value report Buying a Virginia home? Search all homes for sale I just wanted to take a moment today and wish you all a Merry Christmas and a Happy New Year. My team and I hope you enjoy and cherish the time spent with loved ones this time of year. For our military personnel, we continue to pray for your safe return home to your families. For our public safety personnel, stay safe out there and come home at night. From the entire Donaldson Team, we wish you the happiest of holidays, and look forward to connecting with you in the new year!…

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Don't Miss these Tips to Prepare Your Northern Virginia Home for Winter

vor 10 years

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Looking to sell your home? Get a free home value report Buying a Virginia home? Search all homes for sale Last time we covered how to prepare for winter on the inside of your home, and in this episode we're going to discuss how you can winterize the out side of your property. You can start b y performing some preventative yard maintenance. This will include raking your leaves, clearing your gutters, fertilizing your lawn, and perhaps even mowing the lawn one last time. Clearing your gutters is important for keeping snowmelt away from your foundation in the spring. It's also crucial that you drain your sprinkler pipes so that they don't burst during a hard freeze. You might need to hire someone to blow out your pipes if you cannot do so yourself. Right now is also a good time to touch up on the paint covering your siding, decks, and patio . Something else that is often overlooked is replacing or adding caulk and weather stripping to your doors and windows. This will help insulate your home and will even save you money on your energy bill. If you have a real chimney or fireplace, have it checked by a professional to ensure that you won't encounter a problem during the middle of a blizzard. If you have any questions about these issues, please don't hesitate to contact me. I look forward to speaking with you!…

1
How to Prepare the Inside of Your Home for Winter

vor 10 years

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Looking to sell your home? Get a free home value report Buying a Virginia home? Search all homes for sale Today’s topic is preparing your home for the winter, the indoors edition. This is part one of a two part series, and we’ll cover the outside of your home on the next video. It may not feel like winter now, but it will be here before you know it. To make sure you are prepared for the weather and all that it brings with it, we want to give you some tips today for getting the inside of your home all ready for winter. Right now is a great time to go through and thoroughly clean the interior of your home. We’re talking sweeping, vacuuming, dusting, and even hiring a carpet cleaning service to steam clean or shampoo your floor. We recommend mopping and sweeping those hardwood, tile, or linoleum floors as well. One area of your home you should pay special attention to is the bathrooms and the kitchen. Deep clean the countertops to refresh them for the season and get rid of those lingering cold germs. Now is also a great time to perform preventative maintenance on your heating system. It’s not a bad idea to have a service contract with a company to check your heater a few times a year, which will help prolong its life. Finally, make sure you check those smoke and carbon monoxide detectors and replace their batteries. Also, check and purge your closets, cabinets, and garage of any unnecessary items and donate them to charity. If you have any questions for us about winterizing your home, give us a call or send us an email. We’ll be back with part two next time, and we look forward to hearing from you soon!…

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The First Step in the Home Buying Process: Getting Pre-Qualified

vor 10 years

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Looking to sell your home? Get a free home value report Buying a Virginia home? Search all homes for sale Have you ever wondered what the first step in the home buying process is? Today, Tim Curtin from Americorp Mortgage Services is here to help answer that question. Before you even start looking at homes, the first thing you need to do is get pre-qualified. You simply call your lender, talk to them about what you want to do, and then they will take your personal information, income, and assets to figure out what kind of loan you will qualify for. A pre-qualification is different from a pre-approval. The pre-qualification is more of a preliminary step. A pre-approval is when the lender goes through and verifies the information you provided during the pre-qualification. The documents you need to provide to the lender include 30 days worth of paystubs, your W-2s from the last two years, two years of tax returns if you have investment income or are self-employed, bank statements from the last two months, and a photo ID. The whole process lasts about 30 days from getting approved to taking the loan to closing. You may even qualify for more than what you can afford. The lender allows you to borrow as much as their guidelines will allow, but that might be more than you can afford. Budget out your monthly mortgage payments in order to know what you can actually afford to spend on a home. If you have any questions for Tim, you can call him at 703.930.1765 or email him at T.Curtin@Americorp-HomeMortgage.com . As always, if you have any real estate questions, please don't hesitate to reach out to me. I look forward to hearing from you!…

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Is Now the Time to Buy in Northern Virginia?

vor 10 years

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Looking to sell your home? Get a free home value report Buying a Virginia home? Search all homes for sale Today we have got the latest market update for you for Northern Virginia, and we are excited to share the great numbers we have been seeing. Here’s what’s been happening in the Northern Virginia real estate market: New pending contracts increased 14% from August of 2014 Inventory was up as well, for the 25th consecutive month. There were 4,418 new listings added in August, a 1.5% increase over last August Our current active inventory in Northern Virginia is high, and sits at 10,599 The median sale price of $430,000 stayed pretty similar to last year The average days on market is up 8.89% So, we are entering the fall market with high inventory and the days on market increasing. However, buyer demand in Northern Virginia continues to increase, while significant gains in new contracts and closed sales continues to be a trend. Our market is still very strong and continues to improve every year. If you are on the fence about buying now, just know that an impending increase in interest rates could push you out of the price point that you could afford today. So don’t wait, get prequalified today. If you don’t have a trusted lender, we have plenty that we can refer to you. If you have any questions for us at all, give us a call or send us an email. We look forward to hearing from you!…

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Three Important Questions to Ask Yourself Before You Buy

vor 10 years

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Looking to sell your home? Get a free home value report Buying a Virginia home? Search all homes for sale If you're thinking of buying a home in the next three months or so, I'm going to give you three questions you need to ask yourself before you dive into the home search. Why am I buying in the first place? This is the most important question. For most people, the reason has nothing to do with finances whatsoever. People want a safe place to raise their kids. They want more space for their family, and they want control of the space that they have. Where are home values headed? When looking at future values, the Home Prices Expectation Survey provides a fair assessment. Every quarter, a nationwide panel of economists and real estate experts make projections for the next five years. Home values will appreciate by 4% through 2015. Even the more conservative experts project an accumulative appreciation of 15.1% by 2019. Where are mortgage rates headed? A buyer must be concerned about more than just home price. The long-term cost of a home could be dramatically impacted by an increase in mortgage rates. Mortgage rates will increase by one percentage point over the next twelve months, so keep that in mind. The bottom line is that only you and your family can determine the best time to buy a home. These three questions will guide you with that decision. If you have any questions for me, give me a call or send me an email. I'd be happy to help you.…

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What Should You Know About Appraisals?

vor 10 years

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Looking to sell your home? Get a free home value report Buying a Virginia home? Search all homes for sale Today, I want to discuss what a home appraisal is and why they are needed when purchasing a house. An appraisal is an unbiased professional opinion of a home's value. In a purchase and sale transaction, an appraisal is used to determine whether a home's contract price is appropriate given the home's conditions, location, and features. Lenders want to make sure that homeowners are not over-borrowing for the property because the home serves as collateral for the mortgage. If the borrower defaults on the mortgage and forecloses, the lender can recoup the money by selling the home. Because the appraisal primarily protects the lender's interest, the lender will usually order the appraisal. The value found by the appraisal is influenced by recent sales of similar homes, current market trends, the home's amenities, floor plan, and accessibility. The appraiser must do a complete visual inspection of the interior and exterior and note any condition that might adversely affect the property's value, such as needed repairs. Next, the appraiser provides a comprehensive report that includes an analysis and conclusions about the property's value. An appraisal typically costs between $400-$500, and generally, the borrower pays the fee. When you're buying a home and you're under contract, the appraisal will be one of the first steps in the closing process. If the appraisal comes in at or above the contract price, the transaction proceeds as planned. On the other hand, if the appraisal comes in below the contract price, it can delay or derail the transaction. Chances are, neither you nor the seller want the transaction to fall through, and as a buyer, you have an advantage in that a low appraisal can serve as a negotiating tool to convince the seller to lower the price so the transaction can move forward. If you're a seller, it might be a good idea to get an appraisal before you list your home to get a better idea of what the current market value of your home is from a third-party perspective. When everything goes smoothly, the home appraisal is just another box to check on a loan closing checklist, which is the goal for buyers, sellers, and lenders in the transaction process. If you have any questions about this topic, or if you need real estate assistance of any kind, don't hesitate to reach out to us. We would love to hear from you!…

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What Does Home Insurance Actually Cover?

vor 10 years

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Looking to sell your home? Get a free home value report Buying a Virginia home? Search all homes for sale Buying a home is one of the biggest investments you can make in your life. You want to make sure it's protected in the event of a disaster or accident. For a home, you will need dwelling coverage, which covers the bricks, mortar, and everything attached to the house. In the event of a fire or total loss, you can rebuild and get back into your home with this type of insurance. However, dwelling insurance doesn't cover detached garages, outdoor sheds, or any other standalone structures on your property. For your personal property, you want to make sure you're covered under your homeowner's insurance policy. Think of your home as a dollhouse. If you picked it up and shook it, everything that falls out would be your personal property. Watches and jewelry are covered, but you may need endorsements or additional coverage based on your collection. When you're trying to figure out where to start, talk to a real person like an insurance adviser or real estate agent. We can help put you on the right path to success. If you have any questions, feel free to give us a call or send us an email. We look forward to hearing from you!…

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How to Save on Your Northern Virginia Home Insurance

vor 10 years

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Looking to sell your home? Get a free home value report Buying a Virginia home? Search all homes for sale Today, we share some tips to help you save money on your home insurance! Megan Merkosky of Brown & Brown Insurance is here to explain. Deductibles play a part in your home insurance and can help drive down your premium. We recommend a deductible of $1,000 or more, because the higher the deductible, the lower your insurance prices will be. In other words, the lower your deductible, the higher your monthly payment will be for insurance. A deductible higher than $1,000 will keep you from filing claims that aren't necessary. Fires, thefts, a flooding basement: these are things that you should file claims for, not things a handyman could fix. To maximize your insurance discount and save you more money, it's beneficial to have all your insurance policies (home, auto, etc.) in one place. By reaching out to someone at Brown & Brown Insurance , you will maximize your time, get a second pair of eyes, and an advisor to help you. A home is one of the biggest purchases you'll make, so you want to make sure it's insured correctly! Give us a call or shoot us an email if you have any questions, or you can reach Megan directly at (571) 229-1443 or MMerkosky@BBDCMetro.com . We look forward to hearing from you soon!…

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Important Northern Virginia Real Estate Market Data

vor 10 years

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Looking to sell your home? Get a free home value report Buying a Virginia home? Search all homes for sale The latest real estate numbers for Northern Virginia just came out, so I wanted to take a second of your time to update you on them. New pending contracts increased by 9% from 2014 The 4,308 new pending sales was just above our five-year average The number of closed sales increased by 17% to 3,118 Inventory went up for the 21st consecutive month, and we have 9,522 listings right now Median sales price of $425,000 remained the same Half of the homes sold in April were on the market for 53 days or more In summary, the spring market is here, and we have a very large amount of inventory. Buyer demand is continuing to improve, so it's a great time to buy or sell, especially when you consider that interest rates are still sitting at historic lows. Please don't hesitate to contact me if you need any help buying or selling real estate in Northern Virginia. I am always more than happy to help you!…

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Why You Might Want a Home Warranty

vor 10 years

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Looking to sell your home? Get a free home value report Buying a Virginia home? Search all homes for sale Buying and selling a home is a stressful process and lots of different things can go wrong. However, a home warranty can solve a lot of these problems. Here are a few reasons why I believe that a home warranty is a good option. Base plans protect systems and appliances: This is always a good thing to have, and it should provide a lot of peace of mind for you. You can also upgrade your package so that more of your belongings are protected. Products are tailored to your geographic area: Maybe you live on a flood plain, or in an area that's prone to fires. Wherever you are, the warranty will cover your specific area's needs. Service guarantee: Warranty companies provide great vendors that always do their best to provide excellent customer service. I've also seen that most claims made on warranties are handled quickly and efficiently. Sometimes, if they cannot respond fast enough, they'll allow you to hire a local contractor. Peace of mind: The biggest advantage of a home warranty is the peace of mind it allows you to have when you move into a new home. On average, every homeowner goes through two mechanical failures every year. If you have a warranty when something goes wrong, all you have to do is give them a call, pay your deductible, and you're set. Even if you're selling your home, you can purchase a home warranty during the period of time that it's on the market. This way, if something goes wrong, you can get it fixed quickly and not spend your time worrying when you're just trying to sell your home. You can also use it as a valuable marketing tool when you sell, because buyers like to see homes that are under warranty, and it's easy to transfer the coverage to buyers. Overall, getting a home warranty is a great way to secure peace of mind. Please don't hesitate to ask me about any of this information, I'd be happy to help you!…

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Northern Virginia Real Estate Podcast with Jody Donaldson

Northern Virginia Real Estate Podcast with Jody Donaldson

Podcasts, die es wert sind, gehört zu werden

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The Let Them Theory: A Life-Changing Tool That Millions of People Can't Stop Talking About

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