Fredericksburg's Real Estate Voice

Neighborhood Spotlight - Lake Land'Or

Lake Land'Or is a community designed for quiet country living.  There are 16 lakes and ponds scattered throughout the community that encompasses more than 2000 acres.  The lake and ponds provide a myriad of water sports including skiing, boating, fishing, etc.

The community is located in Caroline County approximately 25 miles south of the Fredericksburg area and is laden with amenities which include, pools, clubhouses, tennis courts, basketball courts, beaches, playgrounds and a small archery facility.  The community is gated and provides security personnel at both road entrances to the community...

Why Are You Selling?

The very first step you should take in the marketing and selling of your home is to understand your reason for selling.  Your reason or motivation to sell determines your mindset and direction throughout the rest of the process.  This sounds simple enough, but is a very often overlooked part of the process.

The answer to this question affects how you set your price, what you are willing to do in preparation, repairs you are willing to make and when you want to close or settle the transaction.  Make sure that the marketing plan you or your agent develops reflects your goals and objectives...

A Barbecue Education & Allman's

Hailing from the Mid-West, when I was growing up and heard the word barbecue, I knew Dad was cooking on the grill.  Later in life, I was blessed with a wonderful wife, a great father-in-law and their southern heritage of pork barbecue.  My father-in-law took me under his wing and had a definitive impact on my barbecue education. 

Along the path of my schooling, I was introduced to Allman's Barbecue.  In true southern barbecue fashion, Allman's is a small, one-room "barbecue joint" that is a Fredericksburg tradition... 

Don't Be Bullied By Lenders & Builders

One of the things that enrages me as a real estate professional, is the manner in which some builders and lenders try to force their clients to use a particular title company as a settlement agent.  Some have gone so far as to say that the consumer must close the transaction with a certain settlement agent to get funding or for the offer to be accepted.

The Consumer Real Estate Settlement Protection Act provides the consumer the "right" to choose the settlement agent of their choice.  It is so important, that it is clearly stated in every contract that agents in our area use.  When I say it is clearly stated, I mean in detail... and no where do I read unless the builder or lender wishes to supercede this law...

FLIP

Real estate investment became very popular in the Fredericksburg real estate market a few years ago.  It's no wonder why that happened.  In the red hot seller's market, you were almost guaranteed a profit. 

In some cases, the investor didn't even make any improvements to the house.  They just held it a month... or a week and resold it at a profit.  That market is gone for now. 

The question that I am now asked is, "Should I be buying and flipping houses in this market?"  There may be several questions I would ask you before answering, but the answer is almost always...yes. 

Quoting Rick Villani, "Flipping is a market neutral strategy that allows for a lot more control over the outcome than almost any other investment..."

The Danger of the Zillow Craze

Something has happened to me repetitively over the last several months.  I have found myself in discussions at parties, stores, church and various other places and get asked, "Hey Jeff, have you heard of Zillow?"

Assuming that you have not heard of Zillow, it is one of the fastest growing real estate websites.  One of the primary features of the Zillow.com site is it's Zestimates.  Zestimates are essentially an on-line valuation tool using an AVM (Automated Valuation Model) to help you understand your home's value.

The concept is pretty cool and sometimes it's pretty accurate.  The problem I see with the Zillow site is that when the value is off, it's often way off...

Neighborhood Spotlight - Brookfield (Salem Fields)

Looking for a great family oriented neighborhood?  Check out the Brookfield section of Salem Fields.  Salem Fields is located just five miles from Interstate 95, The Spotsylvania Town Centre Mall, and the incredibly popular Central Park Shops.

The Brookfield boasts numerous amenities that cater to the entire family.  Such amenities include a large family friendly swimming pool, a clubhouse, a playground, tennis courts, and extensive wooded walking trails...

Non-Conforming Loans, Self Employed Buyers & Taxes

I took the time to reflect on the last few "sub-prime" loans I have encountered.  The transactions I have worked, have been twice as difficult because of the news in the media and the uncertainty of what is to come.

It has been very unfortunate that the clients have been caught in the cross-fire. My clients were just slightly "outside of the box" for the conforming loan market and we have had to use alternate lenders to have them qualify. 

Not because they are truly questionable as a consumer with regards to ability to repay the loan, but as self employed business people, they are trying to make the best of their business...

Tickers Coffee

In continuing our Around Town feature, I wanted to tell you about one of my favorite places in town.  It sits only a few hundred yards from my office. 

But long before Keller Williams Realty had an office in Westwood Office Park, I was a frequent patron of Tickers Coffee.  I love a great cup of coffee. 

For the record, I am not a Starbucks kind of guy.  I am very obviously in the minority on this opinion, even among my friends and family, and probably my fellow authors on this blog.  My wife and daughter are MVPs (Most Valuable Purchasers) at Starbucks. 

Quite honestly, even if I liked the product, I couldn't order one of their drinks.  I just feel a little... weird ordering a Half Caf, Low Fat, 2 Pump, Cinnamon Latte, No Whip...

To Rent or Buy?

The primary factor in making a decision to rent instead of buying, for many, is fear.  Fear that they will not be able to qualify for a mortgage, fear that they won’t be able to make the payment and fear that they will pay too much for the property.  The biggest one however, is the fear of not having enough down payment.

It is undeniable that renting has benefits.  You have to invest little up front, you can often leave on relatively short notice and you are not usually responsible for repairs and maintenance. The monthly price tag often appears to be less than buying as well...