Happy New Year!

Happy New Year! The real estate market saw huge activity in 2013 and we expect great things from 2014, so don't wait to make your move. If you're thinking about buying, get ahead of the game. Don't get caught in a bidding war. Watch my latest video to find out how you can ahead of your buying competition!

A Glimpse Inside the Holiday Market

Traditional school of thought dictates that selling a home during the holidays is a bad idea. People are busy celebrating with their families and will hardly go shopping for a home, right? Not so!  There are numerous advantages to listing a home during this season and below are ten great reasons to put a home on the market now.

More serious buyers – Less time wasted

These are people who are interested in buying so there is a far greater chance of actually selling the property.  Nothing is more promising to a seller than a motivated and qualified buyer that knows what they want and is actively seeking to get it.

Fewer Homes On the Market

The less competition there is, the higher the chance there is for homes on the market to sell. Where during the peak season sellers might be dealing with some interest from buyers on their home, nonetheless there is more selection for buyers to choose from and they can stray to another property.

In January Inventory Increases – Chances of Selling Decreases

With so many homeowners assuming the holidays is a taboo time to sell there is a plethora of new listings in January, resulting in a diminished chance of your home selling.  Also, there is a risk that the price you may receive on the home can be less.

Decked Halls Look Great!

Homes are very appealing to prospective buyers when they are decorated for the holidays.  With all the festive décor, lights, greenery and added beauty of the season – the home shows very well and attracts buyers faster than if shown during other times of the year.

More Time To Browse Homes

Buyers have extra time off from work and are on vacation, which translates to a more aggressive buying pattern and more chances of your home being viewed.

More Emotional Buyers

Because of the high stress of the holidays, buyers tend to be more emotional during this time than in the summer months. A more emotional buyer will tend to pay more for a new property, so selling your home during the holidays could make you more money.

Show The Home With Flexibility

Sellers that have their home listed prior to the holidays have the added advantage to be able to “pause” the process so they can celebrate the holidays, essentially not showing the home during a period of time during the break.  When the festivities die down, things can pick up again and the seller has not only managed to save potentially lost time but can also jump right back into the market.
 

Transferred Employees

January is typically the month where employees are transferred into new position. In order to capture this demographic of buyers, your home must be on the market since these buyers cannot wait until the spring to buy.

Sell Now For More Money Then Delay Closing

Extended occupancy can be negotiated, leaving both parties the leniency to get through the holiday season and past the New Year so that all sides can rest assured the deal is done but it can follow through at a more convenient time.  For sellers this option is great because they are able to secure a higher selling price on the property before the market is inundated with new listings come January when the selling values drop.


Fewer Foreclosures On the Market

Many banks will suspend foreclosure listing during this time of year, especially on properties where there are still families occupying the home.  As a result of this, some of the competition that arises for sellers from low-priced foreclosures can be avoided during the holidays.

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If you still need more information before you decide that NOW is a great time to sell your home, take a look at the graphs below and call me if you have any questions.

7 Fire Safety Tips

Welcome back. Thank you for joining me today. It’s the holiday season and that means lots of lights, candles, decorations and cooking. Who doesn’t love all those things?

While these are all fun and festive, it’s important to keep in mind your safety. Many of those things are the leaders in accidental home fires. I want you and all your loved ones to be safe this holiday season and the rest of the year. I have a list of tips to help protect your home and your family from fires.

1. Change the batteries in your smoke alarms. There is a new fire alarm that has a special warranty battery in it that you don’t need to change for 10 years. Look into setting those up in your home.
2. Never leave cooking unattended. I’ve seen a lot of fires started by cooking something low in the oven and leaving for church, or heating up a pan of grease and leaving the room.
3. Never leave candles unattended. Kids, pets and even just a breeze can knock a candle over.
4. Have multiple fire extinguishers in your home. The two most important areas are the laundry room and kitchen.
5. Arrange a family meeting place. Set a designated spot your family will meet in case of emergencies, that way you can get a headcount and immediately leave.
6. Teach your children fire safety. Make sure your children know to check doorknobs before opening doors, go out the second window rather than trying to jump across flames.
7. NEVER go back into a fire. Do not reenter your home to collect items; this is dangerous and potentially fatal.

These are seven simple tips, but they could ultimately save your life, your families’ lives and your home. If you have any questions, please give me a call. Thanks for watching and have a safe holiday season!

Bill Barker
Liberty Mutual Insurance
703-229-9128
William.Barker@libertymutual.com

Happy Thanksgiving!

The holiday season is here and I wanted to take this time to thank you. Because of you and your referrals we've had a great year. I can't wait to help you buy, sell or invest next year. Have a happy and safe Thanksgiving!

10 Reasons Why Now is a Great Time to Sell Your Home

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10 Reasons Why Now is a Great Time to Sell Your Home

Traditional school of thought dictates that selling a home during the holidays is a bad idea. People are busy celebrating with their families and will hardly go shopping for a home, right? Not so! There are numerous advantages to listing a home during this season and below are ten great reasons to put a home on the market now.

More serious buyers – Less time wasted
These are people who are interested in buying so there is a far greater chance of actually selling the property. Nothing is more promising to a seller than a motivated and qualified buyer that knows what they want and is actively seeking to get it.

Fewer Homes On the Market
The less competition there is, the higher the chance there is for homes on the market to sell. Where during the peak season sellers might be dealing with some interest from buyers on their home, nonetheless there is more selection for buyers to choose from and they can stray to another property.

In January Inventory Increases – Chances of Selling Decreases
With so many homeowners assuming the holidays is a taboo time to sell there is a plethora of new listings in January, resulting in a diminished chance of your home selling. Also, there is a risk that the price you may receive on the home can be less.

Decked Halls Look Great!
Homes are very appealing to prospective buyers when they are decorated for the holidays. With all the festive décor, lights, greenery and added beauty of the season – the home shows very well and attracts buyers faster than if shown during other times of the year.

More Time To Browse Homes
Buyers have extra time off from work and are on vacation, which translates to a more aggressive buying pattern and more chances of your home being viewed.

More Emotional Buyers
Because of the high stress of the holidays, buyers tend to be more emotional during this time than in the summer months. A more emotional buyer will tend to pay more for a new property, so selling your home during the holidays could make you more money.

Show The Home With Flexibility
Sellers that have their home listed prior to the holidays have the added advantage to be able to “pause” the process so they can celebrate the holidays, essentially not showing the home during a period of time during the break. When the festivities die down, things can pick up again and the seller has not only managed to save potentially lost time but can also jump right back into the market.

Transferred Employees
January is typically the month where employees are transferred into new position. In order to capture this demographic of buyers, your home must be on the market since these buyers cannot wait until the spring to buy.

Sell Now For More Money Then Delay Closing
Extended occupancy can be negotiated, leaving both parties the leniency to get through the holiday season and past the New Year so that all sides can rest assured the deal is done but it can follow through at a more convenient time. For sellers this option is great because they are able to secure a higher selling price on the property before the market is inundated with new listings come January when the selling values drop.

Fewer Foreclosures On the Market
Many banks will suspend foreclosure listing during this time of year, especially on properties where there are still families occupying the home. As a result of this, some of the competition that arises for sellers from low-priced foreclosures can be avoided during the holidays.

Keep in mind that the idea of your home’s value increasing significantly over the next several months is a myth. The truth is that housing values likely only go up when consumer income rises. Pay rates increase at a rate of three to five percent each year and that is about the maximum yearly increase we can expect to see in a home as well. So if you are wondering whether or not to put your home on the selling market now, or to wait – one important factor is that waiting will not provide much benefit.

I work to protect you

Welcome to my video blog. As your real estate expert, I am always looking for ways to improve my service for you. I'd like to introduce you to my insurance lender, Bill Barker. In his years of insurance experience as both an adjuster and insurance agent, he has gained a lot of insight into the industry and the details of insurance policies. Bill has traveled from Santiago, Chile to Detroit, Michigan, helping families with their insurance claims. With this experience, we want to help make sure you are protected. Find out more about how Bill works to protect you, your family and your home!

Bill Barker:

I wanted to tell you a little about what I do. I first started in the insurance industry in January of 2007. I was a sales agent at Liberty Mutual in Fairfax, VA. After two and a half years, I wanted to gain more real world experience.

I moved over to the homeowners department and worked as a claims adjuster. I only handled claims of $50,000 or more, the most extreme cases. Instead of hail damaged roofs, I saw homes that burnt down. My eyes were open and I received an education I could have never dreamed of.

Once my kids were born I couldn’t travel as much so I went back to being a sales agent in Fairfax. When I prepare a customer’s insurance portfolio, I want to make sure I am giving them what they truly need.

My goal isn’t to sell you insurance, it’s to make sure you are protected. Talk to an agent in your area. We have dedicated our lives to protecting your and your family.

If you have any questions, please give me a call. I’d love to help. Thanks for watching!

The Pre-Approval Process

Hey, guys! I wanted to follow up with the next step in purchasing your dream home!

That next step is pre-approval. Pre-approval is different than pre-qualification. During the pre-approval process a lender may ask you for the following:

1.    Social Security Numbers: If both you and your spouse are applying for the loan, the lender will require both social security numbers to run an accurate credit report.

2.    Copies of your past checking and savings account statements.

3.    Documentation of other assets such as stocks and bonds.

4.    Documentation of your recent earnings and contact information of someone who can verify.

5.    A list of all credit card accounts and their current balances.

6.    Copies of your past tax returns.

Each lender is different and they may ask for more documentation. If you have any questions, please give us a call. We’d love to help!

More Homeowners Today Are Making the Choice to Stop Paying Someone Else's Mortgage

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It’s a part of the American Dream; get a good job, buy a nice house, build a family and enjoy life. But as the past six or seven years have demonstrated, not always do the forces that be make it possible for everyone to achieve that American Dream.

Today, as we move into the summer of 2013, things have changed drastically when it comes to owning a home. Where just a few short years ago people were unable to hold on to their homes, many were forced to move into rental homes or apartments. Today, it’s a new day in the housing industry.

Interest rates are low. Houses are still affordable. Mortgages are easier to obtain than they were during the past few years. All these signs point to a great time in real estate.

There are numerous advantages to owning your own home, ranging from tax breaks to autonomy, better amenities and more. Consider this: for the cost of what you might be able to rent an average-sized single-family home you could easily buy the same or more, depending on the loan product you choose to go with. Before interest rates begin their expected climb back upward, now is a great time to buy a home.

There are several lending options available for buyers these days; some allow financing with no money down, others have a minimum of 3.5% down and yet others are designed for buyers with more up-front cash. Regardless of which option best suits you, one thing is certain; if you can do it – buying a home is by far the best option and it certainly helps to build your future as your strengthen the equity in your home.

If you’d like to start looking for homes to find your dream house, contact us today! We’ve helped countless buyers realize their American Dream!

Why Working With a Real Estate Team Benefits You

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How can you be sure you’re getting the most value for your business when working with a real estate agent? The truth is that when you’re working with a team, you get the maximum amount of support possible without sacrificing customer service or quality of service.

When you buy a home with the Tania Ivey Group, you will enjoy the special privilege of having access to listings not even on the market yet. And when one member of the team is away or unavailable to manage your transaction, another is right there to make sure everything continues without a hiccup.

Another benefit of working with the Tania Ivey Group comes with the strategies we have in place to help you get the home of your dreams. In today’s very competitive marketplace, you need someone that will go to bat for you so that other buyers vying for the same home do not outbid you. Our strong negotiation techniques are proven to get our clients the homes they need at a price they want. And we do it in a way so as not to compromise in important aspects of your transactions such as home inspections, appraisals or other vital components of a successful real estate deal.

We invite you to browse through our blog and take a look at just some of the testimonials from very happy clients that were able to save money when buying a house. When you’re ready to buy (or sell), call us – we look forward to helping you!

703 564 4026

www.Help2ownaHome.com

What is a 1031 Tax Deferred Exchange?

 

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There are three types of 1031 tax deferred exchanges that can take place:

1.) Straight exchanges—two parties trade properties of equal or approximate value. This is the simplest exchange.

2.) Multi-party exchanges—this involves three or more parties buying, selling, or exchanging properties. Don't attempt these exchanges without the aid of a tax professional; they tend to be very complex.

3.) Delayed exchanges—this exchange allows the sale of the relinquished property and the buying of the replacement property to occur at different times as long as stringent rules are followed.This is the exchange most often used.

What's the Advantage of the 1031 in Terms of Taxes?

As the law's title indicates, the capital gains tax is deferred, but not eliminated. However deferral is a great way to leverage small real estate holdings into larger ones! Since you can postpone gains, you're able to use a tax-deferred exchange strategy to transfer equity to a larger property, all without paying taxes!

Another advantage is that there’s no limit on exchanges. This means you can make as many exchanges as you want! So, over the course of your lifetime, you can keep growing income and appreciation by adding new properties without having to pay the capital gains tax!

If you specialize in buying and renovating properties and want to keep reinvesting your profits into larger properties, then this strategy is especially attractive.

Note: If you don’t keep reinvesting, you risk being classified as a real estate dealer by the IRS and will not be able to participate in exchanges.

What Are the Basic 1031 Qualification Rules?

There are some basic rules that must be followed in order to qualify for a 1031 exchange. These include the following:

1.) The properties to be exchanged must be located in the United States. Note: You can exchange foreign property for foreign property and domestic for domestic. However, you can’t mix these exchanges together.

2.) You must trade only like-kind real estate.

3.) An exchange must be made that’s equal to or greater in both value and equity. Any cash or debt relief received above this amount is considered “boot” and is taxable.

4.) The like-kind property must be identified within 45 days of the closing on the initial property.

5.) All proceeds from the initial sale must be turned over to a"qualified intermediary" (also called a QI, facilitator, exchanger, etc.) who is the person or company playing the role of middleman.

6.) Any of the proceeds not under the control of the middleman are subject to taxation.

7.) The middleman holds the funds from the initial property in escrow until such time as the closing on the second property occurs.

8.) The middleman also assists the owner with the preparation of paperwork and other services to ensure the transaction progresses in a smooth manner.

9.) The closing on the second property must take place within 180 days following the close on the first property.

Wow, as you can tell, this is pretty complex subject and can't completely covered here! But if you're an investor or plan to be one, I hope I whetted your appetite for this subject.

And please, if you have any further questions, feel free to call me! I'd love to tell you more!

Who Determines the Value of Your Home?

 
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It's the job of the real estate appraiser. His or her job is to evaluate a property and tell you, the buyer, what condition it is in and the value. Of course, as a seller, you can also have your home appraised so you get an objective "third party" view of your property.

Real estate appraisers are licensed by the state. Regulations vary, however, so I recommend you contact either me or a bank for information on qualified and ethical appraisers (more on this later). Often, they are independent contractors associated with appraisal firms headed by a Certified Appraiser or the equivalent.

What are the Benefits of Using an Appraiser's Services?

When you are a buyer, appraisers can provide you with two great benefits:

First of all, they can uncover hidden problems that could end up costing you a lot of money down the line. Their appraisal can help you to either avoid the property all together or negotiate a lower price to compensate for future costs.

Second, appraisers can do the opposite -- uncover hidden opportunities for you! For example, you might be considering a home that doesn't look all that wonderful on the outside, but is actually in solid shape as far as its structure is concerned. So, through an appraiser's efforts, you may end up with an outstanding bargain.

From the seller's viewpoint... an appraisal can uncover items that need to be fixed before you put your home on the market. This ensures that your property is in the best shape possible before prospective buyers ever look at it.

What Kind of Report Will I Receive from an Appraiser?

A certified appraiser should provide you with a written report. These reports generally consist of the following nine items:

1. A description of the property and its location based on a visit to the property by the appraiser. The appraiser evaluates the condition, overall livability based on design, layout, and appeal to the market, and other external factors).

2. An evaluation of the “highest and best use” of the land; that is, the use for a piece of land, or property in general, that maximizes its net present value.

3. An evaluation of sales of comparable properties (usually three) as similar to the appraised property as possible.

4. Information regarding current real estate activity and/or market area trends.

5. An evaluation of the overall real estate market in the area.

6. Statements about items the appraiser feels are detrimental to the property's value, such as poor access to the property.

7. Notations about seriously flawed items, such as a crumbling foundation, leaking roof, etc.

8. An estimate of the average sales time for the property.

9. What type of area the home is in (a development, stand alone acreage, etc.).

How Do I Find a Certified Real Estate Appraiser?

I can direct you to very qualified appraisers, or you can find one through your bank, as it too should have a list of approved appraisers. If you decide to find an appraiser on your own, check his or her background carefully. As with any profession, there are always a few scam artists who inflate appraisal amounts in order to make more money.

Check with the Better Business Bureau (Insert state link) and the Insert State Name State Appraisal Board. You can also check with your bank to make sure an appraiser is not blacklisted.

How Much Does An Appraisal Cost?

Generally speaking, an appraisal runs from $300 to $500. However, fees do vary with location.

If you need more information on real estate appraisers or any other real estate topic, be sure to call me.  I would love to discuss these matters with you!

Staging the Perfect Home

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If you are in the market to buy or sell a home, chances are you spend some time watching HGTV reruns of House Hunters.  Ever notice the look on prospective buyers’ faces as they walk through the really dumpy properties?  The fact is that so many people neglect to prepare their properties before showing it to potential buyers.  Overstuffed closets, stained carpets, dirty bathrooms, dull kitchens and family rooms with so much junk scattered all over the place that the buyers can barely see the space – all these things are a huge hindrance to selling successfully.

This week we just listed a home for one of our clients and the way they set up their space is perfect.  As you can see in the video, the homeowners have taken the time to arrange furniture in a way that highlights the home’s gorgeous features and open floor plan.  Plenty of tasteful accessories have been used to dot the space with color, interest and life.  There are even some touches of their personal life, though not overdone by any means. 

The key to preparing a show-ready home is to put yourself in the buyers’ eyes.  Going back to House Hunters episodes – how many times did buyers’ eyes light up when they walked into an open, well-lit home that was obviously cared for by its owners?  And if you pay attention, you’ll notice that more often than not, the homes that don’t seem to cared for by their owners are usually the ones that get passed up.

Tips on How to Make Sure Your Property Shows Well

MAKE SURE THE HOME IS CLEAN

Nothing turns off buyers more than a home that is dirty.  As they walk through the house they are imagining living there but dirty bathrooms, unclean windows, or unkempt rooms are unattractive.  Rather than risk buyers only remember that aspect of your home, make sure you clean the space, have carpets professionally steam cleaned, power wash windows, clear up driveways and make the home presentable.

REMOVE ALL CLUTTER

Clutter acts as an obstacle that does not allow buyers to see the actual features of your home.  If possible, box up things like extra shoes, overflowing closets, unkempt toys or messy areas in the home.  Keeping the space clear of clutter will not only make the space inviting, it will also allow the prospective owners to imagine their own things in the space.  A common turnoff that many sellers neglect to take care of before showing their home is a fridge filled with personal notes, pictures, schedules and other traces of the current family’s life. 

EMPHASIZE POSITIVE ASPECTS

If your home’s best feature is the great room, be sure to emphasize it by lighting it well and clearing all to and from areas for easy flow through access.  If the large backyard is a favorite selling feature, remove all leaves and landscaping clutter.  It is important not to ignore maintenance details such as mowing the lawn or tidying up the hedges.

DEMONSTRATE PRACTICAL USE OF SPACE

How you set up your home will have a major impact on how it is received.  By setting up the furniture and arranging other items in a way that highlights the desirable aspects of your home while working with the space encompassing the area, buyers will want to see more.

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Imagine your home is going to be photographed for a magazine.  What would you do to prepare before the photographer arrived?