Divorce Strategies related to Real Estate Holdings
By robertearl | May 5, 2008
Although it is a topic that most people don’t want to consider, divorce has a tremendous impact on real estate and financial holdings. Real Estate may represent the largest asset that is being considered within the divorce proceeding, therefore it is something that should be considered when a separation or divorce are on the horizon. Consider that there are over 1.4 million divorces in the US ever year . Here are some points, strategies and tips on how to maintain your lifestyle after a divorce and how to evaluate various financial settlement options prior to a separation & divorce:
You should consider and evaluate the options related to disbursement of your real estate properties, including homes, condos, vacation properties, investment properties, timeshares, etc. prior to the divorce settlement. This could include an evaluation of whether you should:
o Put your home up for sale or refinance your your primary house or other real estate assets in order to cash out an ex-wife or ex-husband
o Accept or pay spousal support, child support or a higher cash flow payment versus a lump sum distribution involving any real estate assets. You should evaluate the cash flow and real estate equity protection implications of various financial decisions before, during and after a divorce. This enables you to:
o Maintain your lifestyle
o Keep your little ones in the same school system as a single parent
o Still live in a home that does not break your budget
o Stay on track to achieve financial freedom and become debt-free
You should look to correct your real estate liquidity and provide protection for your any real estate assets from legal obligations or liabilities prior to going through a separation & divorce by working together with your CPA, Financial Planner, attorney. Real Estate Team and other advisors.
Don’t settle for an financial short-term fix or strategy if you failed to plan properly during a divorce situation. You can recover by implementing a structured plan for how to re-establish your monetary footing after going through a financial rough spot. This may involve:
o A staged approach to financing - a refinancing or debt restructuring plan that takes place over time
o Sale/Leaseback or Rent-to-Own strategy - a way to keep or buy a home for sale or when you can’t qualify for traditional financing options.
o Seek out Affordable Single Family Homes for Sale
You worked hard to develop the assets and real estate holdings involved. You should consider all of your options to create an environment that works to protect those assets.
Robert Earl - The Earl of Real Estate is a Real Estate Entrepreneur based in the Northern Virginia Real Estate Market.
Topics: Northern Virginia Real Estate, Robert Earl | No Comments »
Jose Conseco Strikes Out - loses home to foreclosure
By robertearl | May 1, 2008
Former U.S. baseball star Jose Canseco said on Thursday he had lost his California mansion to foreclosure — one of the first celebrities to publicly admit being a statistic in the U.S. housing crisis.
Canseco, 43, one of the most flamboyant U.S. baseball players until his retirement from the major leagues in 2001, told the celebrity TV show “Inside Edition” that it did not make financial sense to keep his 7,300 square-foot (678.2 sq-metre) home in the Los Angeles suburb of Encino.
“Inside Edition” said it had foreclosure documents showing Canseco owed a bank more than $2.5 million on the house.
“I’ve been out of the game for about eight or nine years and obviously this issue with the foreclosure on my home,” he told “Inside Edition”.
“I do have a judgment on my home and it to me is very strange because it didn’t make financial sense for me to keep paying a mortgage on a home that was basically owned by someone else,” he said.
Canseco said the foreclosure was not a difficult issue emotionally. But he sympathized with the millions of other Americans who have already lost, or face losing their homes, because of soaring interest rates on sub-prime loans.
“I decided to just let it go, but in most cases and most families, they have nowhere else to go,” he said. (reuters.com)
Canseco was one of the first Major League Baseball players to admit using steroids.
Topics: Buying Foreclosures, Sell your Home | No Comments »
Honey, do you know where I put that $6 Trillion I had? It was here just a bit ago
By robertearl | May 1, 2008
Disappearing Now: $6 Trillion in Housing Wealth. “Center for Economic and Policy Research report, based on Case/Shiller Home Price Index: The annual rate of price decline over the last quarter was 24.9% in the 20-city index and 25.8% in the 10-city index. At this rate… the excesses of the housing bubble will have largely disappeared by the end of the year… The price decline implies an incredibly rapid loss of wealth. In real terms, the rate of price decline in the 20-city index would imply a loss of almost $6 trillion in real housing wealth over the course of the year, an average of $85,000 per homeowner.” (latimes.com)
Topics: Sell your Home | No Comments »
Believe it when you see it - Dulles Rail Set to Get Federal Approval
By robertearl | April 30, 2008
Federal transportation officials are planning to approve the proposed 23-mile extension of Metrorail in Northern Virginia to Dulles International Airport in a letter to Congress today, the officials told local and state authorities yesterday.
Without the federal money, state and local officials have said, the project would die, ending the possibility of a long-sought rail connection between the nation’s capital and its major international airport. Supporters say the line would ease congestion through Northern Virginia’s biggest jobs corridor and keep the economy humming with the transformation of suburban Tysons Corner into a thriving downtown.
The rail line would go from Falls Church to the airport and into Loudoun County. The first phase, for which Virginia is seeking the federal money, would have four stations at Tysons Corner and end at Wiehle Avenue in Reston. (washingtonpost.com)
Topics: Ashburn VA Real Estate, Falls Church VA Real Estate, Herndon VA Real Estate, McLean VA Real Estate, Northern Virginia Real Estate, Reston VA Real Estate, Robert Earl | No Comments »
Washington DC in line with Averages reported on S&P / Case-Shiller Home Prices Report
By robertearl | April 30, 2008
The February S&P/Case-Shiller Median Home Price data was released Tuesday, and as shown in the table at right, the Composite 10-City and Composite 20-City year-over-year declines were once again extremely negative.
Las Vegas, Miami and Phoenix all registered 20% year-over-year declines, while Los Angeles, San Diego, Tampa and San Francisco weren’t far behind. While Miami has fallen 22% from its highs, it still has the highest median home price at $218,740. Chicago was down 8.5% from 2/07 to 2/08, while New York was down 6.5%. Charlotte was the only city that maintained year-over-year gains at 1.48%.(seekingalpha.com)
Topics: Buy a Home, Northern Virginia Real Estate, Sell your Home | No Comments »
Baron Earl comments on an actual photo found in the MLS System
By admin | April 29, 2008
Take a look at this photo that I found in a listing for a house.
A few days ago, my Daddy, The Earl made a posting about the number of photos that a property has and how it sells. Why is my house not selling? - Maybe because no one is seeing it?
Now, most of the time, more photos are great. And then there are exceptions.
These little guys look like they are cute, but they all have a “we must protect this house” look on their faces.
Imagine what it is like if you are a buyer of a home trying to look at this particular house. The buyer might, at best, be sniffed to death, or even worse.
Sad as it is to admit, some people are not dog people. Not every one that I approach wants to pet me. Some even start sneezing and getting funny looks on their faces.
So, I think dogs are great (what else would you expect me to say) JUST NOT IN MARKETING PHOTOS TRYING TO SELL A HOME.
Heres to Happy Buyers.
Baron Earl
Topics: Baron Earl, Buy a Home, Sell your Home | No Comments »
Virtual Roundtable on the State of the Real Estate Market
By robertearl | April 29, 2008
USA TODAY QUESTION TO THE VIRTUAL REAL ESTATE ROUNDTABLE: If you could use just one or two words to describe the housing situation right now, what would you say?
Brandt: Working itself out.
Youngblood: Correction.
Naroff: Sales are stabilizing, prices still falling.
Murphy: Work in progress.
Yun: 2008 is a year of clean-up. Afterwards, better conditions.
Murphy: Better days ahead.
Zandi: Not over yet.
Bruno: Unstable.
These responses came from an article in USA Today.
The spring home-buying season is kicking off in the midst of the most painful real estate recession in decades, with prices tumbling and many Americans losing their homes to foreclosure because they can’t pay their mortgages. As buyers and sellers begin what’s typically an energetic time for real estate activity, USA TODAY convened a virtual roundtable of housing experts and everyday Americans for an online conversation.
Check out the article and if you have any questions you can always Ask The Earl.
Some of the selected questions and answers:
Q: Recently, the National Association of Realtors reported the first signs that sales might, at last, be perking up in some areas. Yet, home prices are still falling, and federal officials are taking steps to try to ease the crisis. What should buyers and sellers expect as the spring selling season gets underway?
A: Consumers need to find out what is going on at the local level and not necessarily take national headline numbers as a point of reference. Sellers tend to be more stubborn in facing the reality of the market, so people who really need to sell need to come down on prices, given the high inventory and seller competition.
Q: What needs to happen to stimulate the housing market?
A: Consumers need to have the confidence that their local market is not going to continue to fall — and the credit markets must become more fluid. We see many buyers who are ready to buy and should qualify but can’t get a loan. A government bailout of housing is not the answer.
Q: Consumers need to have the confidence that their local market is not going to continue to fall — and the credit markets must become more fluid. We see many buyers who are ready to buy and should qualify but can’t get a loan. A government bailout of housing is not the answer.
A: Home prices had just tracked inflation from 1895 to 1995. They outpaced inflation by more than 70% since 1995. That is my basis for saying that we need price reductions of 30% to 40% from 2006 levels.
Q: Assuming they do proper research, should people — especially first-time buyers seeking an affordable home — consider buying a property in foreclosure?
A: In some areas, most of the properties for sale will be foreclosures. I absolutely think people should consider this, after doing careful homework. Buying a home in foreclosure is no easy task for the novice, and they should not attempt it without professional help — an investor, agent, etc., who can guide them. It’s difficult, especially at public auction, which is the most risky stage to purchase.
Topics: Buy a Home, Buying Foreclosures, Northern Virginia Real Estate, Robert Earl, Sell your Home | No Comments »
Happy Earth Day +7, Beltway Project will Bulldoze Hundreds of Trees
By robertearl | April 29, 2008
Hundreds of trees along the Capital Beltway will be cut down in preparation for construction of four more toll lanes, officials said yesterday.
The Virginia Department of Transportation said crews have begun clearing brush and trees to make room for construction trailers along the Northern Virginia Beltway at Georgetown Pike, Chain Bridge Road, Interstate 66 and Braddock Road. The staging areas will be used until the project is completed.
Hundreds of trees along the 14-mile project will be cut down, officials said — probably the first impact commuters will see from the project. (washingtonpost.com)
Two public hearings on the project are scheduled for next month. The first will be from 5 to 9 p.m. May 20 at Northern Virginia Community College in Annandale; the second, from 5 to 9 p.m. May 21 at Marshall High School in Falls Church.
Topics: Annandale VA Real Estate, Burke Va Real Estate, Falls Church VA Real Estate, McLean VA Real Estate, Northern Virginia Real Estate, Robert Earl, Vienna VA Real Estate | No Comments »
Northern Virginia Real Estate Offers Fair Pricing For Wonderful Homes
By robertearl | April 28, 2008
If you are looking for your dream retirement home, then look no further than northern Virginia. In northern Virginia, you will find many home builders, designers, real estate agents and brokers, all of whom are ready to help you build the retirement home that you have always wanted. You will also find experienced and established builders displaying their newly built homes and condominiums. Come to northern Virginia to see how you can retire in peace, comfort and happiness.
To fulfill any of your real estate needs and wants and to fulfill your dream to have the best home, northern virginia real estate is a place which is also full of brokers who can help providing the choice of right home for you. A place which is so peaceful and clam, which has no problem of child education, which has plenty of places to enjoy too is none but northern virginia.
In addition, Northern Virginia real estate information is easily obtainable to aide both buyers and sellers obtain the best possible price in this market. Northern Virginia is also home to a number of spots that are not only appealing to the traveler seeking the perfect vacation, but also for those looking for the ideal spot to settle down permanently as well. Investing in properties such as these will almost guarantee a future return on the investment.
Alexandria which is a small historic community located across the Potomac River from Washington, D.C. With an outstanding schooling system and plentiful job opportunities in the area, a lot of people want to be a part of this suburb. A lot of people choose to buy alexandria va real estate property because of high property return and also because it is very close to Washington D.C.
Another place close to northern virginia is Ashburn which is located around 30 miles west of the capital. You would find local communities featuring various amenities like swimming pools, walking trails, soccer fields, tennis courts, clubs and much more. Also this place is home to many technology firms, horse farms and luxury hotels.
Ashburn, Virginia has many amenities providing a superior quality of life for its residents. Ashburn is the home of several colleges and universities offering a variety of undergraduate and graduate degree programs. Ashburn is also a shirt drive from Loudoun County in the heart of Virginia’s wine country with several wineries open to the public.
No body would like to miss a chance to buy a place in the northern virginia and the place which would come handy for them is northern virginia real estate for the beauty and the peace that one would get there. This appears to be a very intelligent choice for home. So get ready to get delighted in the place to live and spend some beautiful part of your life.
If you are looking to build or buy your dream home, look no further than northern Virginia. You can find experienced and established builders, designers, real estate agents and brokers just waiting to help you retire in comfort and happiness. Whatever the type of home you desire, Northern Virginia Real Estate has something for you. Alexandria is a small historic community with a superb school system employment outlook. This is a happy, family-friendly place and a great investment. Ashburn is home of recognized undergraduate and graduate universities and fine wineries. Alexandria VA real estate and Ashburn VA real estate present you with amazing living options.
Topics: Northern Virginia Real Estate, Robert Earl | No Comments »
How these 5 steps can help you get the house you have always wanted
By robertearl | April 28, 2008
…and how The Earl of Real Estate Team can assist you in following these steps to get the home of your dreams in Northern Virginia.
The video above is an extract from Donny Deustch’s show titled “Million Secrets”.
It shows Dr Joe Vitale from the movie The Secret explaining the process of attracting wealth. We are going to show you how these same principles can be used to attract the home of your dreams.
In this video it is easy to see how perhaps Dr. Joe Vitale got his nickname “Mr Fire” for he is certainly fired up about this topic. For more information on this topic: (skylinecoachingblog.com)
So that you can really digest his message here is a summary of Dr Joe Vitale’s five-step process for attracting wealth the home of your dreams.
1. Know What You Don’t Want
This is perhaps the easiest step of all them all. Just ask anyone what they want and they’ll usually start telling you what they don’t want. People are very good at complaining about what they don’t want but the problem with this is that you are putting energy into what you don’t want and so you keep getting more of the same.
“If you don’t like something change it. If you can’t change it, change your attitude. Don’t complain.”
Maya Angelou
It’s like having a restaurant that you visit on a regular basis. You hate certain dishes and you repeatedly bitch about those particular dishes yet when it’s time to order you go right ahead and order those dishes because you haven’t taken the time to figure out what you do like on the menu.
So identify what you don’t want so that you can be clear on what you do want and focus your attention on these things.
The Earl Says:
I have seen this so many times when it comes to home buyers. I sit down to consult with them, trying to find out what they want in their new home and all that they can bring up and focus on is what they don’t want. I ussually takes a couple rounds of questions and some patience to allow the buyers to finish the don’t want list so that we can get them focused on the DO WANT LIST.
2. Check Your Intentions
When you state your intentions you re-align your body and your mind to go in the direction of a new target.
Think of a radio. Turn it own and start turning the frequency dial. As you do this you will hear static, you may sometimes hear overlapping stations, and you will also hear voices and or music as clear as a bell.
This happens when we tune into the right frequency. The same thing happens with your thoughts. You can direct your thoughts so that they tune into the thoughts and ideas that will move you forwards in the direction of your goal.
With a radio, if I told you the frequency you could find a particular station then it would be a relatively easy thing for you to find that particular station by aligning the dial on your radio with that particular frequency.
Goal achievement operates in a similar manner. State your intentions but ensure that you are in complete harmony with your intentions or else you will not succeed.
“You cannot change anything in your life with intention alone, which can become a watered-down, occasional hope that you’ll get to tomorrow. Intention without action is useless.”
Caroline Myss, Author of “Entering The Castle”
The Earl Says:
We try to do this in every house that we show. We remind the client what they listed on their DO WANT list so that they are tuned into the right frequency. Emotions take over. People forget what they want and end up going back to the list of don’t wants. As a consultant, we attempt to re-calibrate the home buying process at every property so that the we understand the buyers true intentions, every step of the way.
3. Get Clear
Janet Attwood, author of “The Passion Test - The Effortless Path to Discovering Your Destiny” said that,
“When you are clear, what you want will show up in your life, and only to the extent you are clear.”
The problem is as Dr Joe Vitale points out is that many people have counter beliefs and, to compound matters further, they don’t even know that have them.
The result is that, until the “get clear” they will continue to unwittingly sabotage their efforts.
Most people don’t know they have counter beliefs within themselves.
“Because you counter the majority of your thoughts with opposing thoughts, you believe that you are not powerful.
When you no longer split your flow of energy with contradictory thoughts, you will know your power.”
Abraham-Hicks
The Earl Says:
By taking care of the financial aspects of the property before we ever start looking at homes or condos in Northern Virginia, we attempt to make the home selection as clear as possible. The financial aspects can bring up the most amount of contradictory thoughts. Thoughts like “I can’t afford this” or “how am I going to pay for this?” are eliminated becasue the buyer already knows exactly how much they can afford on a total basis and a mo9nthly basis. By making sure that we get our home buyers mortage pre-approved before we start actually looking at properties, we eliminate the clutter of the mind and energy surrounding the money aspects of the purchase and allow the home buyer to be crystal clear on the features and benefits that they are looking for in their new home.
4. “Nevelize” Your Goal
These steps are getting progressively more challenging but it so important to follow them through. Are you beginning to see how if just one of these steps was not properly completed that it is unlikely for you to achieve your goals.
So for step four you need to use your imagination and feel what it would be like to already have what you want.
Now, I said that this is challenging but it also pleasurable. Just think of what you want, what you really want and then imagine you have it.
For instance, when I think of my dream home I visualise myself walking through my home and I take in the sights of what would be before me as I moved through the house. I can see the trees overhanging the back garden as I look out the kitchen window. I can feel the water flowing over my hands as I prepare some vegetables for a meal.
As I open the door leading to the patio and front garden I can hear the pool making little gurgling sounds and I can see the reflection of the sunlight sparkling on the water. I can feel the warmth of the sun on my face as I turn my face skywards.
As I go back inside and up the stairs into my bedroom I notice how light and airy the room is. I open the door leading to the balcony and I can clearly hear the waves beating against the shore. As I walk out onto the balcony I can detect a slight tanginess in the air.
I could go and on but I’m sure you get the picture. You’ve got to get emotionally involved with what you desire. This will accelerate what you want towards you.
The Earl Says:
Exactly.
5. Let Go While Taking Inspired Action
Then, despite saying you’ve got to get emotionally involved with what you want, you’ve also got to let go of your attachment to the end result. If you are over-attached to the end result you are really expressing fear rather than your passion or desire for what you want.
Fear moves you away from your goals.
Fear can also paralyse you at a time when you critically need to take action to achieve your goals. Passion is like fuel so keep your passion alive. Feed your passion. It will keep you internally motivated or inspired to move in the direction of your goal.
When you erase fear a sense of calm takes over you and in that calmness you will receive directions telling you how to proceed step-by-step. Sometimes those steps may seem counterintuitive but it is your very voice of intuition that is reaching out to you and guiding you.
The thing is you have to learn how to trust that voice of intuition.
There is another reason why we need to have a certain detachment regarding the outcome of what we are striving towards. As Sandra Ann Taylor, author of “Quantum Success” explains:
“Sometimes the Universe doesn’t give us exactly what we want when we want it, because there’s actually something better down the road.”
The Earl Says:
This is so true. So many home buyers during the boom settled for what they didn’t exactly want, or fell into a feeling of fear that what they were looking for would be so hard to find so they overbid for the house they did not actually want. This is where a professional that is assisting you can be so valuable. We want you to get exactly what you want, in the timeframe that you want it and will work with a sense of purpose, action and calmness to help you move in the direction of your goal.
For more information on this topic: (skylinecoachingblog.com)
Topics: Buy a Home, Debra Earl, Earl of Success, First Time Buyer, Northern Virginia Real Estate, Robert Earl, The Earl of Real Estate Team | No Comments »
Is your Realtor still using a Typewriter???
By robertearl | April 28, 2008
We belong the the National Association of Realtors (NAR). We uphold and follow the code of ethics that the Realtor Association provides. We can honestly tell when we are working with a real estate agent that is not a member of NAR for a variety of reasons. That being said, there are some parts of the NAR organization that we just don’t get.
From time to time, NAR attempts to help its members by providing us with information and statistics regarding the real estate marketplace. One recent video was just so funny and sad that I feel that I had to share it and make comment on it.
This video, features the 2007 NAR President Pat V. Combs. It follows her as she and her staff “implement new technologies”.
During the video, Combs mentions that it is the typewriter that no real estate agent can do without because you simply can not fill out forms in any other manner.
The Typewriter?????
This is embarrasing!
Let me reassure you that The Earl of Real Estate Team has multiple ways in which we can fill out paper forms. We use Online Forms and PDF formats along with email and e-faxes.
In my 7+ years in real estate, I have never had to use a typewriter to fill out a form.
PS.. No typewriters were harmed in the making of this blog post. They were not even used.
Topics: Buy a Home, Northern Virginia Real Estate, Robert Earl, Sell your Home, The Earl of Real Estate Team | No Comments »
Welcome Our New Grandson - Cameron Michael Simmons
By debraearl | April 27, 2008
Topics: Debra Earl, Robert Earl, The Earl of Real Estate Team | No Comments »
The Youngest Victims of Foreclosure, keep them in your Prayers
By robertearl | April 25, 2008
When preparing a house for re-sale following a foreclosure, the most troubling times come when we see evidence that there were kids living in the property. The following brings light to this situation…(pardon the ad, but the story is worth it.)
Florida: “In Manatee county, 400 kids are homeless due to the foreclosure crisis. And the numbers are rising in other housing hot-zones across the country. Cleveland public schools have nearly 1,700 homeless students, 500 more than a year ago. Minneapolis schools have 5,600, up more than 1,000 more homeless kids than last year. Deb Bailey runs Project Heart, a group helping homeless families on Florida’s west coast. Her group is financed in part by the Manatee School District to help kids better deal with the effects of foreclosure.”
Topics: Buying Foreclosures, Northern Virginia Real Estate | No Comments »
A taxing issue - even if you don’t plan on selling - you are being effected by the Foreclosure Market
By robertearl | April 25, 2008
Faced with revenue shortfalls, local governments across the U.S. are raising property-tax rates, angering homeowners already hit by the housing slump and economic slowdown.
In the meantime, flat assessments and rising rates add up to higher bills for many. Arlington County, Va., recently raised its property-tax rate 4% in part to cover retiree health benefits.
THE SQUEEZE (wsj.com)
• The News: Local governments are raising property taxes to fill revenue shortfalls.
• The Cause: Rising fuel and health costs hurt municipalities, which count on property taxes for 40% of their revenue.
• The Effect: Homeowners see tax bills rise even as their houses may go down in value.
Topics: Arlington VA Real Estate, Northern Virginia Real Estate, Sell your Home | No Comments »
I have seen this Letter to the Editor a couple of times and wanted to get your take on this…
By robertearl | April 25, 2008
The posting is titled: “Why should taxpayers pay for real-estate roulette?”
I do not support “foreclosure bailout,” but please answer me the following questions ["House Democrats target help for homeowners," April 9].
Why is it that our elected officials and activist groups spend most of their time attacking and taxing businesses that provide jobs and strengthen our economy, while scheming about ways to bail out people who act irresponsibly or believe it is their right to dip into my bank account when they can’t afford their McMansions?
When did owning a home become a constitutional right in the U.S.? We have a right to acquire property. We don’t have a right to own property if we can’t afford it.
Would the subprime mortgage crisis have occurred if executives of lending institutions had focused on the long-term financial health of their companies and their shareholders, rather than posing for corporate social-responsibility awards by providing loans to people who were ill-equipped to pay them back?
Is it the social responsibility of those of us who actually pay taxes to bail out people who played real-estate roulette and lost when interest rates went up and home values headed in the other direction?
Is it fair and just that the 5 percent of American taxpayers who now pay 60 per-cent of all federal taxes be required to pay even more in order to bail out the individuals who were absent from class when their sixth-grade teacher said, “If it sounds too good to be true, it probably is”?
Is it acceptable governance when the response by local authorities to the decline of property values is to propose raising property-tax rates so the local bureaucrats won’t have to tighten their belts?
Is there any wonder that 80 percent of adult Americans recently told pollsters that America is headed in the wrong direction?
However, I must admit that I have had it up to my eyeballs with being told that there’s a hidden bailout clause in the U.S. Constitution that requires anyone who earns a living and pays taxes to kick in more cash to the government when other people act irresponsibly. (fredericksburg.com)
Written by Aubrey Saunders / Stafford
Does not represent the views of The Earl of Real Estate Team, just posted to see what you have to say about this and to provide information to potential Northern Virginia buyers and sellers.
Topics: Buy a Home, Buying Foreclosures, Northern Virginia Real Estate, Sell your Home | No Comments »
Despite all of the news - 31% of home owners feel their home is worth more than it was a year ago
By robertearl | April 23, 2008
Despite the troubles some Americans are facing, 31% of participants feel their home is worth more than it was a year ago and 56% do not think their home will be worth less in five years. This optimism continues with 69% of Americans seeing real estate as a viable investment. If forced to sell their home today, half would buy another home rather than rent; roughly half of Americans would seriously consider purchasing a home through a foreclosure listing. (businesswire.com)
Topics: Buying Foreclosures, Northern Virginia Real Estate, Sell your Home, The Earl of Real Estate Team | No Comments »
The Hidden Market - Home Owners that want to sell - but are waiting
By robertearl | April 23, 2008
Real estate’s new hidden market
Unable to sell, a growing number of homeowners are simply pulling homes from market.
Across the country, home sellers discouraged by the prices offered for their homes, or tired of watching people traipse through their bedrooms, are yanking their homes off the market. While it’s difficult to say how many houses this might be, housing experts believe the numbers are substantial. The implications of this “shadow inventory” are widespread: the housing market may be slow to come back, affecting everything from when Americans retire to whether they can afford to move to find a new job. (csmonitor.com)
If you are a homeowner that is part of the “shadow inventory” please let us know. We have home buyers that are looking for properties on a daily basis and your property might be just what they are looking for, at a price that both parties will find satisfactory.
Topics: Northern Virginia Real Estate, Sell your Home, The Earl of Real Estate Team | No Comments »
Existing Home Sales came in at 4.93 million for the month of March - Down 1.99% vs. last month
By robertearl | April 23, 2008
4.93 Million homes sold in March. 4,930,000. That is a lot of zeros. From the sounds of the Mainstream Media (MSM) you would think that no one is buying any homes. Well, 4.93 million did. The Earl of Real Estate Teams monthly real estate report shows that 2,260 homes went under contract in March 2008 in Northern Virginia.
Topics: Buy a Home, Northern Virginia Real Estate, The Earl of Real Estate Team | No Comments »
GAME 7 - ROCK THE RED - LETS GO CAPS!!!!
By robertearl | April 22, 2008
Our local Northern Virginia’s Hockey Team needs our support!! (They do train and practice in Arlington, VA in the Ballston Kettler Iceplex)
http://blog.washingtonpost.com/capitalsinsider/?hpid=artslot
Topics: The Earl of Real Estate Team | No Comments »
Fairfax County follows suit - Raises Taxes Rate for Fiscal 2009
By robertearl | April 22, 2008
Yesterday, the Fairfax County Board of Supervisors tentatively approved a $3.3 billion spending plan for fiscal 2009 that raised the property tax rate 3 cents, to 92 cents, per $100 of assessed value. The average home assessment declined from $542,400 to $524,100, and the average tax bill is projected to drop about $6, to $4,822. Final action on the budget is set for Monday.
In Prince William County, where foreclosure rates have soared more than in other area communities, supervisors today are scheduled to consider a 21-cent tax rate increase to offset a 15 percent decline in home values. Loudoun County leaders have approved an 18-cent tax increase to contend with a 10 percent decline. Average tax bills in both counties would rise about 8 percent. (washingtonpost.com)
Topics: Alexandria VA Real Estate, Annandale VA Real Estate, Burke Va Real Estate, Centreville VA Real Estate, Chantilly VA Real Estate, Fairfax VA Real Estate, Falls Church VA Real Estate, Great Falls VA Real Estate, Herndon VA Real Estate, McLean VA Real Estate, Northern Virginia Real Estate, Oakton VA Real Estate, Reston VA Real Estate, Springfield VA Real Estate, Vienna VA Real Estate | No Comments »
Who’s to blame for the “Real Estate Crisis” - Top answer is on the board - SURVEY SAYS…
By robertearl | April 22, 2008
CONGRESS At least that is what one recent “online only” survey found.
An over-whelming majority surveyed say the U.S. Congress will fail in its attempt to solve the nation´s real estate crisis, according to a new poll conducted by Housing Predictor.
The online survey was the most active poll yet in the web site´s history, clearly indicating that Americans are fed up with Congressional failures, the government´s stance on the nation´s economic crisis and the White House.
Here is the question that was put forth to the readers: Do you believe the U.S. Congress will be successful in solving the nation’s real estate crisis?
One other result from the survey:
When do you plan on buying real estate?
Within 6 months – 36%
Within 1 year – 21%
Within 2 years – 16%
More than 2 years – 14%
More than 5 years – 13%
What is your take on this information as it pertains to the Northern Virginia Market? Let us know.
Topics: Northern Virginia Real Estate | No Comments »
AOL Real Estate / Zogby Survey - How Americans Search for Homes
By robertearl | April 22, 2008
When looking for a home, 67% of Americans surveyed turn to the Internet first.
If your home had been listed with The Earl of Real Estate Team, it would have
been exposed to home buyers relocating from the following areas:
Visitor Locations - Since Apr. 1, 2008
The maps shows the location of visitors to our website and blog over the past month. With 67% of homebuyers starting their search online, as a homeseller, you have to be on a site that is where the buyers are so that you can get your home sold.
Topics: Northern Virginia Real Estate, Robert Earl, Sell your Home | No Comments »
Someone appears to be making money - Homebuilder stocks are up in 2008
By robertearl | April 22, 2008
Much to many investors’ surprise, homebuilder stocks have been strong performers so far in 2008. The S&P 1,500 Homebuilder group is up 15.5% year to date, and many stocks in the group are up 25% or more. (seekingalpha.com)
In many states, new homes may only be purchased directly through the builder. However, in Northern Virginia, REALTORS can show you any of the new homes that are available.
Buyers often think that they will pay extra if they buy a new home through a REALTOR, but that is not the case. Builders figure in the selling costs when they price their homes and buyers pay the same price whether a REALTOR is involved or not. In fact, often times The Earl of Real Estate Team can save you money.
What most people do not realize is that when they go to a new homes for sale community without a REALTOR, they have no representation. The on-site tract agent works for the builder, represents the builder, and is looking out for the builder’s best interests. Many times the buyer ends up paying unnecessary fees or costs and is not aware of concessions that the builder might make.
Some of the things The Earl of Real Estate Team can help you with are:
1. Choosing a builder with a good reputation, quality construction, and good follow up. (Not one that is almost out of business or one that will sell you a home and then never come back to make any repairs!)
2. Choosing the best area with the best value, floor plan, and options; keeping resale value in mind, and keeping you out of areas with known problems.
3. Go over in detail what is included and what is optional, lot sizes, CC&R’s, etc. so that you are clear about exactly what it is that you are purchasing and can see beyond the wonderfully decorated model.
4. Choose what type of financing will work best for you, avoid unnecessary costs and guide you through the steps needed to complete your loan or negotiate for you to get a fair discount for cash.
5. Be present at your walk-through to inspect your new home and itemize any needed repairs.
If you are considering a new home, FIRST call The Earl of Real Estate Team so we can discuss possibilities and then go through some models together. The builders will cooperate with us, but only if we take you to the community the first time. So many times people drive by the models, on the spur of the moment go inside, like the home, then call to ask for our opinion and help. Once they have done this, The Earl of Real Estate Team may not be able to represent them. New home developments sometimes spend upwards of $80,000 on each model, decorating and showcasing the home. They have furniture specifically sized for the rooms, show the homes with no interior doors or screens on the windows and situate the homes on larger lots with no other homes next to or behind them. Their marketing people are full-time, professional sales people who work for them. There are some wonderful new homes out there, but it’s important that you are represented when you go out looking.
So… the next time you get ready to walk into a new home subdivision, turn around and call The Earl of Real Estate Team before you open the door and talk with the builder’s salesperson. You have everything to gain and nothing to lose.
Topics: Buy a Home, First Time Buyer, Northern Virginia Real Estate, The Earl of Real Estate Team | No Comments »
ROCK THE RED and force a Game 7
By robertearl | April 21, 2008
Our local Northern Virginia Hockey Team needs our support!! (They do train and practice in Arlington, VA in the Ballston Kettler Iceplex)
Caps Owner Ted Leonsis just updated his blog site today. http://www.tedstake.com. You can check it out an see what the owner has to say about the game tonight.
Topics: Arlington VA Real Estate, Northern Virginia Real Estate, Robert Earl | No Comments »
Arlington County Real Estate Taxes set at 84.8 cents per $100 assessed value
By robertearl | April 21, 2008
Arlington County became the first in the region to impose a commercial tax for transportation improvement Saturday in a move likely to be considered by nine other jurisdictions in Northern Virginia.
The spending plan approved by the Arlington County Board includes a special 12.5 percent tax hike on shopping centers and offices.
The commercial taxes will raise about $10 million in the coming year for improvements to Metro stations and to fund the design and construction of a streetcar line along the Columbia Pike and purchase new buses.
The special commercial tax was one of the small parts of last year’s transportation bill that was not thrown out by the State Supreme court. Arlington county is the first in the Northern Virginia region to use the new taxing power to pay for transportation needs.
The move will raise the average homeowner’s real estate tax bill by three cents to 84.8 cents for each $100 of assessed value or approximately $104 more per year. (wtop.com)
Topics: Arlington VA Real Estate, Northern Virginia Real Estate | No Comments »
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