Real Estate Information

Tam's Tuesday Tip - Sequestration Will Lead To Economic Constipation

It's that word again. I've been debating all week about how to approach this topic and apply it to real estate.  Simply put, the way I feel about the sequestration, is that it will lead to economic constipation.

Finally, signs of recovery.  Finally, the right mix of low interest rates making way to increased affordability.  Finally, diminishing short sale and foreclosures. Finally, property values are no longer plummeting, but are on the increase.  We've finally seen visible economic progress and this darn sequestration is about to cause a huge blockage.

Are we over-reacting?  I honestly don't know.  But the local businesses will be affected, and many workers will see lower paychecks and some will lose jobs.  All of the progress that we've made, will be slowing down to a crawl. 

I've even setup a Google alert for 'sequestration' so that I can stay informed, as if I don't already have enough email!  For years we've been protected by our beltway bubble because of the high number of government jobs and military.  But for the first time in my fifteen years of selling real estate, there seems to be a noticeable smell of economic anxiety.

So, what's a buyer to do?  What's a seller to do?  Well, first of all, no matter what the economic conditions are, the sellers who must sell will continue to put their homes on the market.  Buyers' motivation and ability will depend on employment.  If you're in the market to buy a home within the next two months and you will be affected, then talk to your lender immediately.  Part of the mortgage approval process includes verifying employment and income.  Once you're under contract, the lender will verify your credit and employment within 48 hours of closing prior to granting you final approval.  If you're under contract now and will be affected by the sequestration, it could make a difference as to whether or not you will actually be able to buy your house.

But my job is not to simply spew out what the media is already telling you, I also want to help you find opportunities.  This sequestration could very well be the opportunity that many of you have been lurking around for.  What's your take on it?

I'll be around this week for your real estate needs.

P.S.  Who was is that said, "Buy when there's blood in the streets." Message me on Twitter @MovingToNova

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Quit Yackin' and Start Packin'

I hope you had an opportunity to enjoy yesterday's sunshine. For the past few weeks, I have been working day and night because of the shift in the real estate market.  Yes, it's still January, but believe me when I tell you that when it comes to real estate, it feels like spring.

Did you catch the ABC News feature last night?  If not, here is a link to the story about real estate prices across the country.  When the market tanked, the media was all over it, reporting the doom and gloom and how prices were plummeting.  Now that things have taken a turn for the better, I'm glad to see the media reporting this positive side of real estate. Take a look and let me know what you think (after the 30 second commercial):

On Monday, I was talking to a new homes sales representative about the builder's current inventory, and she was telling me how a buyer came in to make an offer on a home and was frustrated to learn that the base priced had gone up $30,000 since visiting in December.

From my lips to your ears, the tide has shifted.  We are now in a sellers market.  If you are currently renting, and your lease will be expiring within the next six months, you need to call me today at 703-623-8759 so that we can get started.  It is imperative that you have a clear understanding of your financial picture so that we can put together the best game plan for you to buy a new home.

If you know anyone who has tried to sell a home in the past three years without success, please let me know and I will contact them today.  Timing is everything, and now is the right time to sell a home in today's market.

The latest local real estate market statistics are now available on my website, and you can click here to drill down to your favorite zip code as well as see the MarketWatch video for December 2012 for all of Northern Virginia.

I'll be around this week for your real estate needs :-)

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Del Ray ReMax Agent Earns Hall Of Fame Award

Del Ray Real Estate - Top Alexandria VA real estate agent Tamara Inzunza has just earned the prestigious RE/MAX Hall of Fame Award. This company award is presented to successful sales associates who have earned more than $1 Million in commissions during their careers with the company.

Inzunza has been selling real estate since 1997 and has extensive experience working with buyers and sellers, serving the areas of Alexandria City, Arlington, Fairfax County, and Prince William County. She has also earned multiple designations including Certified Residential Specialist (CRS), Accredited Buyer Representative (ABR), and is Quality Service Certified (QSC).

Always passionate about new homes, Inzunza took the required courses early in her career to earn the Certified New Homes Sales Professional (CSP) designation. “Learning about new home selling and the construction process was vital. Every homeowner dreams about building and owning a new home. Even with my experience with resales, it’s helpful to my clients that I have more than just a basic understanding of how a home is built from foundation to rooftop.”

In 2009, Inzunza was one of first 1,000 agents to earn the widely recognized Certified Distressed Property Expert (CDPE) designation. As a CDPE Advanced agent, she has been successfully helping homeowners avoid foreclosure by listing, selling, and facilitating short sales in addition to assisting homeowners with loan modifications. Last year, Tamara attended the annual CDPE Breakthrough conference and is pictured above with RE/MAX CEO Margaret Kelly.

Tamara works in the Del Ray office of RE/MAX Executives located on 'The Ave' at 2715 Mount Vernon Avenue. For more information, please visit www.CallTamara.com or call Tamara at 703-623-8759.

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Do you know anyone who is trying to sell a home themselves and may need help?  If so, please give me a call at 703-623-8759.  My pockets are full with buyers, and I am running out of listings.

We're in the second full week of December and now is right about the time were people do a mental cool down because of the holidays.  "That's a negative Ghost Rider."  If there was ever a good time to sell a home in Northern Virginia, now is the time.  For the past three months, I have witnessed multiple offers and multiple presentations on listings.

Here the top three reasons to list your home now, and keep in mind that this is also from a buyer agent perspective:

1. Inventory is shrinking, both nationally and locally.  Back in July when I attended a real estate conference, panelists from across the country were warning about a nationwide housing shortage.  And we are seeing this come to pass.  Here in Alexandria VA we continue to see fewer and fewer new listings come on the market, this means that as a home seller, you are competing with fewer listings.  Would you rather sell your home when there's more competition or when there's less competition?

2. Money is still on the cheap!  More buyers are choosing to enter the real estate market over paying increased rents.  With mortgage interest rates below 4%, not only are today's buyers able to get more house for the money, but it also makes this time ideal to sell and move up to a larger home with a reasonable monthly mortgage payment.

3. Waiting until the spring means you will be putting your home on the market during the time when new regulations will likely go into effect.  With new regulations come increased costs, and these increased costs will be passed down to new borrowers.  If the lending guidelines become tighter, then this will decrease the buyer pool.  At the same time, these newly qualified buyers will want to pass along the increased lending costs to you as a seller by asking for more money in closing costs.  Closing costs are negotiable and you don't have to pay them, but if you do, you will increase the number of buyers who can afford to buy your home. But, the additional money you may get for a higher sales price by listing in the spring could be canceled out with higher buyer paid closing costs.

So, if you know of anyone who is thinking about selling their home, please have them call me, or let me know how I can help. If you currently own a house...get out...I need to sell it!

I'll be around this week for your real estate needs :-)

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Thankful for Happy Clients in 2012

I would have to say that the most heart-felt Facebook that I've seen today has been from my friend Gwen in Michigan.  She posted,

"If anyone is spending Thanksgiving alone, we have extra chairs and would love to have you."

Here's to wishing you and your family a very Happy Thanksgiving.  As you smile, laugh, and share your blessings with your friends on Facebook over the next few days, I challenge you to reach out and send a private message to those friends who do not post. 

I have to thank my friend Michael in Kansas who challenged me to send out 'thinking about you today...how are you?' texts to anyone who I had not heard from in six months or more.  Wouldn't it be great to be a blessing in someone's life  during this week of thanks?  You'd be surprised at how much of an impact that little phrase can make on someone's life.  Just to know that someone else is thinking about them.

The year is not over, and I am thankful for you and each of you who has reached out to me this year. Here are some of the clients who I have had the privilege of helping this year!

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Help Us To Keep Families Warm This Winter - RE/MAX Executives Coat Drive

Do me a favor, when you're reaching into your closet to pull out that coat, grab that coat two or three hangers down. Yes, you know...that one.

Not that one, the other one. You know, the one that you haven't worn in a long time. The one that you've outgrown because you've gained weight, or the one that no longer fits because you lost weight. What about the one that you say is no longer in style, or the one that 'makes your butt look big'.

Or you can just pull out the one that would bring the biggest smile to someone's face as they put in on and it makes them feel like they can finally weather the storm.

Join us at RE/MAX Executives as we collect new and gently worn coats to donate to families in need so that they can stay warm this winter.

Please stop by our Del Ray office located at 2715 Mount Vernon Avenue (Alexandria), our Springfield office at 8442 Old Keene Mill Road, or our Fair Oaks office at 4000 Legato Road, Suite 105. Each office will have a collection station to accept your new or gently worn coat or jacket.

Here is a map to our Del Ray office (don't forget to check in on Foursquare):

View Larger Map

Winters can be brutal, and local families who have difficulty with high utility bills or who are unable to purchase a new coat need your help. Please give us a helping hand and help us to warm the hearts of families who can benefit from your donation.  We welcome your donations until December 7.

ALL DONATIONS WILL BE DELIVERED TO THE FAIRFAX COUNTY GOVERNMENT CENTER
for distribution to area families.

THANK YOU FOR YOUR SUPPORT!

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Belle View Condos For Sale -
Short Sale In Alexandria VA at 1402 Belle View Blvd

Belle View Condos For Sale - Top Alexandria VA short sale listing agent Tamara Inzunza has listed this rarely available two bedroom porch unit in Belle View at 1402 Belle View Boulevard, Unit A1.

This home includes hardwood floors throughout, and the kitchen has been updated with stainless steel appliances and corian countertops.  This unit offers an open floor plan, with living room and dining room views of the courtyards.  This is a secure building, and guests are invited in via buzzer.

This home is a Short Sale, and required third party approval.

Tamara Inzunza of RE/MAX Gateway has distinguished herself as a leader in the Alexandria VA real estate market and is a top producing agent serving Belle View condominiums. Tamara assists buyers looking for Alexandria VA real estate and homes for sale and aggressively markets homes as a listing agent.  Tamara is also a Certified Distressed Property Expert (CDPE), foreclosure prevention, and short sale expert, committed to helping families in financial hardship find options to foreclosure. For more information be sure to visit MyPrivateShortSale.com. Tamara can also be reached at CallTamara.com or give her a call, 703-623-8759.

I hope your week is off to a fantastic start.  Fall is here, but "it's gonna be a bright sunshiny day" with a high of 80 degrees here in Washington DC. 

The Northern Virginia real estate market continues to be a ray of light in the midst of the national economic recovery.  I've just updated the real estate market statistics for you and here are the highlights for the month of September 2012:

• The US Economy added 114,000 jobs and the unemployment rate dipped to 7.8%
• On Oct 11 it was reported that new unemployment applications were at the lowest level in 4.5 years at 339,000
• Economists predict that the US will continue to see slow and steady progress through the fall despite the current European situation and the current election

The National Real Estate Market highlights:

• The national housing market continues to show signs of improvement
• US foreclosure filings dropped to a 5 year low in September according to RealtyTrac
• New construction is up
• Home prices are stabilizing

The Northern Virginia Real Estate Market highlights:

• Strong job growth continues with unemployment at 4.2%, down from 4.3% a month ago, one of the lowest regional unemployment rates in the nation
• Closed sales are up 13.3% from this time last year
• New pendings are up 10.7% from this time last year (the highest September total in three years)
• Active listings continues to decrease, down 24.9% from this time last year
• Number of new listings lowest in September since 2000
• Median sales price up 5.7% from this time last year to $383,000, year over year price gains every month this year.
• Median DOM is 23 days, 10 days lower than this time last year.

This time of year there is an influx of laser-focused buyers who are motivated by the three dates that are pivotal for end of the year sales.  These dates are Thanksgiving, Christmas, and December 31.  Homeowners who may be inclined to wait until spring should request an updated market analysis of their home right now to see if there has been any significant change in activity that supports listing now versus the spring. 

I'll be around this week for your real estate needs.

Tam's Tuesday Tip - Two Rates That Went Down
Big Boost For The Economy

Two important rates that matter and they both went down for our benefit.

First, according to the Bureau of Labor and Statistics, the unemployment rate fell below 8%.  This should be welcoming good news for everyone, as a low unemployment rate is a sign that the economy is improving.  No one wants to buy a home where there are no jobs, no investor wants to buy in an area where would be tenants are unemployed.  And it doesn't take rocket science to understand that when people are unemployed, they do not pay their mortgages which leads to increased foreclosures and decreased property values.

Second, mortgage interest rates hit record lows for two weeks in a row.  I have to admit, that as a buyer agent, it is such a good feeling to hear a buyer say, "Wow, this is less than what I was paying in rent!"

I never thought I would live to see when mortgage interest rates were below 4%, much less when I would seriously consider paying off my mortgages early to own property free and clear.

Make no mistake about it, the cost of money is practically free, and this is the time where you should be looking at three types of houses:

• Not the cutest kitty in the litter, but do a double take on the homes that other buyers are passing on.  Why put yourself through a bidding war and have buyers remorse?  Go in the opposite direction of 'average' buyers and take a look at what is being overlooked, such as homes that have been on the market for 90 days or longer.  There are some sellers who would be so glad to get an offer, that you could negotiate more favorably than if you were a multiple bidding situation and escalating your offer price.
• Look the houses that have expired.  This is where a good buyer's agent is worth her weight in gold :-)  If you're narrowed down your neighborhood, let's check out what didn't sell this time a year ago, or two years ago.  Sellers who pulled their homes off the market and rented may be willing to try again for a good offer and without the hassle of going on the open market again.  Let's make them an offer.
• Look where most buyers aren't and invest the time in a short sale. I list a lot of short sales, and many buyers overlook these homes because they take 3-6 months to close.  You can negotiate the price, and still have the bank pay closing costs.  If you're willing to wait, it may be worth it.

Don't be so caught up in getting a house that you overlook these three opportunities where you can find a better value.

I'll be around this week for your real estate needs!