How Far Below Asking Price Can I Offer if a Listing is New to Market?
March 6, 2010 by Katie Wethman · Leave a Comment
As I’ve often discussed before (since 2007, even), our local real estate market is really a ‘tale of two markets’ — those listings that are “in the market” — meaning they are priced competitively given their location and condition, and those “out of the market” — meaning they are over-priced given their location and condition.
Though [...]
Arlington Condo Pet Policies
March 5, 2010 by Katie Wethman · Leave a Comment
So you’re ready to buy a condo…But what about your four-legged friends? Will they be able to go with you, or will you be asking Mom to take care of them…again. Well, we’re here to help! Below is a table of the pet policies for a number of Arlington condos. All information is believed to [...]
FAQ: What does MLS stand for?
March 3, 2010 by Katie Wethman · Leave a Comment
MLS, in the real estate world, stands for Multiple Listing Service. See, way back when, in the time of the dinosaurs…okay, not really the dinosaurs, just before computers and databases…homes were recorded by individual brokers on sheets of paper, and literally kept in books in the office. And so agents looked through the books [...]
FAQ: High Investor (Low Owner-Occupancy) Ratio Condos: How Can I Buy or Sell?
December 2, 2009 by Katie Wethman · Leave a Comment
One of the most common issues a condo buyer or seller faces in obtaining financing is meeting the owner-occupancy ratio required by lenders or the FHA. Owner-occupants means the units are actually occupied by their owners as primary residences, rather than those owners who choose to rent out their units. Renting units out is [...]
FAQ: Why is the Buyer’s Agent Called the Selling Agent? Buyer Agency Agreements Explained.
November 29, 2009 by Katie Wethman · Leave a Comment
Buyer’s agents, seller’s agents, listing agents and selling agents…just how many agents are there in a real estate transaction?
Usually two. But to understand the nomenclature we need to go back a few years, before the rise of “buyer agency.” Years ago, there was no such thing as a buyer’s agent. There were, however, still two [...]
FAQ: Why Would A House For Sale Still Have a Sign Up Even If It’s Under Contract?
November 18, 2009 by Katie Wethman · Leave a Comment
Buyers are often frustrated when they drive past a great house for sale, only to go online and find that it’s “Pending” or “Under Contract.” So why is the sign still up?
First: Free advertising for the listing agent. They’re hoping you call the number on the sign so that they can say [...]
$8000 First Time Home Buyer Extension and New $6500 “Move Up” Buyer Credit Details
November 6, 2009 by Katie Wethman · 1 Comment
It’s officially passed the House and Senate, and is now awaiting the President’s signature. Along with the extension of the $8000 First Time Buyer credit (now applies to any buyer under contract by April 30, 2010 and settling by June 30, 2010), there is now a new credit category: long-time residents of the same [...]
Six Myths About Choosing a Real Estate Agent to Sell Your Property
April 2, 2009 by Katie Wethman · 2 Comments
When I meet with sellers, I often hear some variation of the same “myths”…
I need to choose my “neighborhood specialist.”
Typically buyers look in more than one neighborhood, so in fact you may have more success with an agent who understands what buyers are looking for and where else they might find [...]
Finding an Investment Property in Northern Virginia
November 26, 2008 by Katie Wethman · Leave a Comment
As prices plummet, some solid investment opportunities are starting to emerge…but how do you identify good investment properties?
Step 1: Identify some target neighborhoods.
- The first thing to do is to consider long term (e.g., 10 years) appreciation potential. Think about area employment (and more importantly where those employers are—commuting time is a big factor). [...]
