I read an article yesterday regarding Open House etiquette and found it quite interesting.

What made it unique was the fact that it was written by a recognized etiquette expert (the paper’s description, not mine) not by a real estate agent or a seller. I’d be curious to know if she actually talked to any agents before writing her article.

So from someone who does hold Open House’s for a living I thought I’d share my own list of the “Do’s & Don’ts” for Buyers touring  Open Houses.  Next, I’ll be sharing tips for Sellers wanting their home to be held as an Open House.

DO:

1. Park in the driveway if there’s room and you’re not blocking anyone in.
2. Feel free to come in or ring the door.  I will answer the door if I’m not busy with another prospective buyer
3. Wipe your feet on the doormat. Be prepared to take off your shoes if asked to protect the floors.
4. Sign the register so I can let the seller know how many people came through their home.  Put yourself in the seller’s shoes and give them the curtesy of this basic information in return for touring their home.
5. Ask me questions about the home and the local area.  It doesn’t matter if you’re a neighbor, the friend along with the buyer or a family member.  I’m there to help sell the home and you’re questions help me to do that.
6. Tell me if you’re working with another agent.  As agents we want to know this, so we can respect the relationship you already have and can readily follow up with your agent if you have interest in the home.
7. Feel free to open closet doors, pantry doors and the likes, but be respectful of the homeowners’ personal belongings.
8. Share your honest opinion of the home & the price.  I welcome all feedback.  It helps me in explaining to the seller(s) what’s important to prospective buyers.

DON’T

1. Use the restroom without asking permission first.
2. Allow your children to run freely throughout the home. You wouldn’t want a strangers’ children running around your home. If they are tired and cranky maybe it’s best to take turns touring the home while someone stays in the car with them.

Pretty simple guidelines for visiting Open Houses.  Be as respectful of someone’s home as if you were truly their guest.

Please contact me if you’re in the market for buying or selling home in Vienna, VA or the surrounding Northern Virginia area and need some help.  I’d be happy to meet and talk with you about the strategies to successful home buying or selling.

Today, while at the gym I observed a father sitting in the center area with his two young sons.  They were  just outside of a classroom filled with kids.

It was clear to see, the boys  just weren’t ready to leave their dad and go into the room with the other kids.  It was also obvious the dad was in no hurry and wasn’t pushing the boys to go in.  He was just calmly talking to them.

Eventually, a counselor came out and calmly led the boys into the room.  They followed, but with glances back to see that dad was staying close by. The boys started out at a table by themselves facing the window so they could see their dad.  Gradually, the counselor pulled them into the rest of the group.

I on the other hand was in the workout room with my 17-year-old daughter.  We were doing our own individual workouts.  We came and would leave together.  I thought back to when my daughter and her younger sister were the ages of the young boys.

Time has flown by.  My oldest will be leaving for college in the fall.  I think I will be the one sitting outside the dorm room not ready to leave!  Yes, I might even throw a bit of a temper tantrum saying, “no, please don’t leave me!”  I think if I did, she’d calmly take me by the hand, walk me to my car and say, “Mom, you’ll be okay”.  If you know my oldest, you can see her doing this!

When the girls were little, my favorite book, but the hardest to read to them was, “Love You Forever” by Robert Munsch.  The girls knew I couldn’t get through it without shedding some tears no matter how much I loved the book.

Nothing in life can fully prepare you for being a parent.  It’s one day at a time.  But nothing is more rewarding than being a parent. So I hope the dad this morning cherished the extra time he had to spend with his boys getting comfortable at the day camp.

Myself, I plan on taking a copy of “Love You Forever” and sliding it under my daughter’s dorm room pillow. I know she’ll be back home to visit and maybe even have another jaunt of living at home after college.  Either way, she’ll know (as well her younger sister does) that I’ll always love them.  And I also know, they’ll always love me.

Home Sales in Vienna, Virginia reflect that the spring market definitely started early this year.  Sales of Homes increased by 24% over Jan with 42 homes being sold in 22180, 22181 & 22182 combined.

Additionally, the prices of homes are trending upward.  The average home price was $699,000 in February a 10% increase over January.  You can definitely say there’s been a recovery in home prices for this area.

Lastly, the average days a home is on the market before a home goes under contract decreased from 94 in January to 66 days in February.  That’s a 42% drop. Home are going under contract at a much quicker pace as there’s not nearly as much inventory.

It comes down to supply and demand.  The supply is low and there are buyers out looking.  Every offer I’ve written since the first of the year has been up against other offers.  This has also been the case on my listings.

Yes, homes still need to be priced right for the condition of the home in order to be moving.  So it’s a good measuring stick for sellers, if the home is being shown quite a bit, but not getting offers, it’s time to reevaluate where it’s priced or are there improvements to be made to justify the sales price.

With buyers, it means if a property comes on the market that look good from the internet details, the price seems a good price you should get out and look at it immediately.  That means the same day if at all possible.  Waiting a day or two or until the weekend, could mean losing out on that home.

I definitely see we’ll have another drop in the days on the market from the March numbers based on the current activity in the market.  As of today, there are 187 homes for sale in Vienna with 151 under contract.  As you can see things are the home sales in Vienna remain strong in March.

If you’ve got questions about the sale of a home in Vienna or you’re looking to buy and want some assistance please give me contact me.

I’ve been working with several home buyers in the Vienna, VA area and thought it might be good to review the top 3 things home inspectors point out to buyers.  These are also helpful tips to sellers to consider when working to properly maintain their home.

I asked Dave Boulter, from Good Faith Inspections to review with me the top 3 things he consistently points out to buyers during Home Inspections.

• First is moisture – keeping it out of the home.

Keep the paint and caulk tight, especially around windows,  doors, trim, masonry ledges and utility lines coming into the home .  Check shingles for loose or missing tabs, and roof flashing to make sure it is seated and sealed tight to the roof.  An overlooked but very helpful feature is the drip edge flashing at the perimeter of the roof to help keep rain from sneaking in under the shingles.  Lastly, is to check the slope or grade of the yard to make sure there’s proper run off of water AWAY from the home or there are proper drain lines to move the water away from the home.

• Second is insulation and ventilation.

The place to check this is in the attic.  Typically insulation has settled or moved out of place so that it no longer provides optimal energy efficiency.  If the insulation is in good shape overall, just have some new insulation blown in on top of what you already have.  One tell-tale sign of improper ventilation is signs of moisture or mildew starting to show up at the roof sheathing.  A contractor can usually install a roof fan or vent with ease.  Finally, make sure that if your bath fans vent through the attic, they make it all the way to the outside instead of putting that warm, moist air into the attic — that’s the perfect environment for mold!

While you are in the attic, be sure to check for loose wires and improper wire splices or junctions.  The most common issue Dave finds are wires that have been nutted together without being protected inside one of those blue plastic junction boxes.  Or he’ll see junction boxes that are not secured or do not have the cover plate secured to the top.

• Third is checking the mechanical systems in the home; heating and air conditioning systems. Dave usually finds that homeowners have not maintained the units per the manufacturer’s recommendation. He always recommends an annual service contract on the heating and cooling systems. This helps keep the unit(s) in proper working order thereby saving the homeowner money on utilities, repairs and extending the life of the unit(s).

If you have more questions about the top 3 things to review during a home inspection contact; Dave Boulter with Good Faith Inspections is the guy to call.  If you’re looking to buy a home in Vienna, VA or the surrounding Northern Virginia area and have questions or would like to get the process started please contact me; 703-919-0254 or nancy@nancyheisel.com.

The real estate market is “hot” just like the warm temperatures we’re having here in Vienna, VA.  Over the last several months, I’ve had multiple buyers lose out on homes because of being up against multiple offers.

My other life, outside of being a real estate agent, is that of a soccer mom to my 14-year-old daughter.  She’s the goalie on her team. Being the goalie means she’s in charge of giving some direction to the players while on the field.  She’s back in goal and can assess the game and help give direction to the players on the field.

I thought of her as I was helping my clients write another offer on a home to purchase.  I realized I needed to help my buyers to be more defensive in their positioning.  The market had changed since we first started looking in January and we had to be more aggressive with their offer in order for it to be selected. Things played out well as with this last offer, my buyers got the deal.

So here are some defensive moves for buyers in Vienna, VA and the surrounding Northern Virginia area to consider in order to be successful:

• Don’t ask for closing cost assistance (aka: seller subsidy) if there are multiple offer; the seller is looking at the net and this will always pull your offer down lower than the other one.
• Consider putting an escalation clause in with your offer.  Yes, it still has to appraise, but determine how badly you want the home and what $ amount  you’re willing to lose it for.
• Wave the home inspection negotiation.  Buyers should ALWAYS conduct a home inspection and reserve the right to void the contract if they find something they don’t like.  But this gives the Seller the confidence they won’t be hit up for little repair items.
• Have a strong down payment amount.  A minimum of 1% of the loan and the higher the amount the stronger it looks to the seller.
• Ask what closing terms (timeframe to close, if a rentback is needed, even giving free rentback, seller’s preference for title company, etc) are ideal for the seller and if at all possible work with the sellers on these preferred details.

If you’re ready to jump into the “game” of buying a home in Vienna,VA or the surrounding Northern, VA marketplace and need some good defensive coaching; give me a call;703-919-0254 or email: nancy@nancyheisel.com

Coming down to the kitchen one morning last week, I stepped  into a puddle of cold water. It wasn’t a good start to my morning. My refrigerator was leaking.

I have a repairman that’s great.  I think of him as my Maytag guy.  He’s dependable,  tells me the straight story on whether something should be fixed or replaced,  and why they don’t make them like they used to!

Unfortunately he was booked for a couple of days, so I had to opt for another repair service.  Needless to say, this was not a happy experience.  The repair wasn’t done properly the first time.  So the following morning I had another puddle.  This time, I was on the watch for it.

What does this have to do with real estate you ask?  Well, I compare myself to my Maytag type repairman.  I will be there to answer your questions and help you through the transaction. I want to be your dependable Maytag type real estate agent, who can answer your questions, or get the answers as well as provide you with trusted resources.

I had a call once several years ago, when I was working in the real estate office.  It was from a client I’d sold a home to within the past year. He was having some issues with water damage.  My client was looking for ideas and suggestions on how to deal with the problem.

When I got off the phone another agent in my office said to me, “Don’t you just hate phone calls like that?”  The inference was she did not like being bothered by clients once the sale was complete.

I on the other hand was thrilled.  I’d gained the trust of my client and he respected my opinion and connections to resources which could help him solve the problem.

So if you’re looking for a  Maytag type real estate agent in Vienna, VA or the Northern Virginia area your home, please give me a call; 703-919-0254.  I’d love to help out.  You don’t have to just be buying or selling a home to ask me questions.  I’m here as a real estate resource to you.

Rates for FHA loans will be changing as of April 1, 2012 for anyone using an FHA loan to purchase a home in Vienna, VA or the surrounding Northern Virginia marketplace.

Currently, the upfront Mortgage insurance premium is 1.15% of the loan.  As of April 1, 2012, that fee will be 1.25%.

See the chart below to see the difference for a $400,000 loan:

    THRU March 31, 2012                           AS OF April 1, 2012

$4000 in premium at closing                   $7000in premium at closing

Additionally, the monthly mortgage insurance premiums will increase from 1.15% to 1.25% of the loan value.  Using the same $400,000 loan the effect on a monthly mortgage premium (MIP) would be:

THRU March 31, 2012                             AS OF April 1, 2012

$383.33 MIP                                                    $416.66  MIP

Lastly, there will be an additional change for loans over $625,500 originating after June 1, 2012.  The monthly mortgage insurance premium (MIP) will be increased from 1.15% to 1.35%.  This includes the additional .10% added to all loans as of April 1^st.

The effect on a $700,000 loan will be as follows:

THRU May 31, 2012                                    AS OF June 1, 2012

$670,83 MIP                                                     $875,00 MIP

A key point to focus on is not the actual date the changes go into effect but when an FHA case number is secured.  In order to get the lower rate, a buyer has to have a ratified contract to a lender and the lender has to have secured an FHA case/file number prior to April 1^st.  Or if you’re purchasing something with a loan balance above $625,500 the next big jump is effective June 1, 2012.

Mortgage insurance premiums have to be paid for a minimum of 5 years.  After 5 years, if a homeowner has over 20% equity in the home, he/she can refinance (staying FHA) and drop the MIP.

With today’s market conditions, I would predict the values not to have increased enough in 5 years to warrant this, unless a buyer puts additional equity into the home.  This can be done one of two ways: making extra principal payments or making improvements to the home which increase the value.

If you have more questions about the new FHA rates, give me a call; 703-919-0254 or email me at nancy@nancyheisel.com.

Additionally, you can contact a Bob Rosenbaum, a preferred lender of mine

As a real estate agent in the Vienna, VA and Northern Virginia marketplace I wanted to share with you my top 7 strategies for helping to sell your home:

1. Pricing.  I’m not going to inflate the sales price to get your listing.  I don’t want to disappoint you when we can’t sell it for a higher number than fair market value.  I’d rather not take your listing than price your home too high for the market.  No one wins.  You don’t sell your home, you get frustrated because it doesn’t sell and I’m not able to successfully do my job.

2. Marketing – There’s a lot more to selling your home than just putting it in the MLS.  The goal is to make your home as visible to as many buyers as possible through the most effective means as possible. We’ll sit down together and discuss what the best game plan is to selling your home.

3. Pictures – I’m a stickler on having really good pictures.  That means clutter has to go.   I’ll point out the differences between good and bad pictures and how good pictures can help attract more buyers and in turn help sell your home in a timely fashion.

3. Smells – If you have any kind of unique odor in your home – pet, cooking smells, mold, smoke, etc, I’m going to point them out.  They need to be addressed and resolved before putting the home on the market.  Nothing will deter a buyer more than a bad smell in the home. Setting out potpourri or using plug-in air fresheners is not a solution.  It’s a mask and buyers will smell right thru it.

4. Repairs – Take care of any repairs you are aware of before putting the home on the market.  The better the home shows, the better sales prices you will receive.

5. Showing times – Be as flexible as possible with showings days & times. The more opportunities you can give buyers to see your home the greater the odds are you’ll receive an offer. If it’s inconvenient to show your home the buyer’s agents will take their clients to other homes and leave your home off the list.

6. Offers – A lowball offer is still better than what you had the day before – i.e. nothing.  Vent your frustration over the offer to me and allow me to help turn things into a workable solution.

7. Negotiations – Be prepared to give a little to get a little.  Both parties (buyers and sellers) need to feel like they’ve won something for it to be the most successful transaction.  For example, give a bit on price, and then you can be a bit firmer on negotiations on home inspections items.

The goal is to help you sell your home for the best price in the shortest amount of time.  I have found these guidelines to be very successful in helping sellers in the Vienna, VA and Northern VA marketplace.

If you’re thinking about selling your home and would like to talk with me please contact me at; 703-919-0254 or nancy@nancyheisel.com.

I’ve been working with several buyers over the last several months in the Vienna, VA and the surrounding Northern Virginia area and several buyers have experienced the heartache of losing to another buyer with an offer on a home.

So what’s changed….

We are currently at record low inventory levels.  There are currently only 158 single family homes in all of Vienna, VA for sale.  There are 90 homes which went under contract and 30 which sold in the last month.  At that rate we have only a 1.75 month supply of inventory.  It was approximately twice that a year ago.

What’s stayed the same…

Additionally, interest rates are low which is pushing a lot of first time homebuyers into the market.  They are up a bit this week at 3.75% (from a low of 3.5% just recently).  But, 3.75% for a 30 year fixed rate loan is PHENOMENAL.  It’s understandable why there are so many buyers out looking.

What do buyers need to do to be successful…

-       Offer the best price (after reviewing the comparable sales and factoring in the current market – ie what a similar home sold for last month is probably a bit less than one the same home could sell for today).  If there are multiple offers, you HAVE to come in strong with your initial offer, not wait to see if the seller will negotiate with you.

-       Don’t ask for closing cost assistance from the sellers if there are multiple offers.  If it’s needed roll it into the price and typically the price will still appraise, but be aware this may not always be deemed positive by the seller.  See if there are lender credits (FHA) which can be used to help pay the closing costs.

-       Find  out any terms that would be ideal for the seller.  Closing date, rent back options (if desired by seller), as well the type of loan being used maybe a factor (cash & conventional typically win over FHA & VA)

-       Write a letter to the sellers describing why you want to buy their home.  You’re not just buying a piece of property, you’re buying their home and it’s personal. There’s something to be said about a personal letter to the seller and I have seen it make the difference on many offers.

To help ease the heartache of losing an offer I share this point with my buyers, that no buyers have every wished they would have gotten a home they didn’t win the bid on, but are also glad they got the home they ended up with.

Keys to a New Home

So rest assured a little bit of heartache can be forgotten when you are settled into your new home.

For more information about buying in Vienna, VA see;  or contact me at 703-919-0254 or email me at nancy@nancyheisel.com.

“Keys to New Home” by tolemaker

Did you know an appraiser does more than just place a dollar value on a home? When you are purchasing a home using a FHA loan, the appraiser is also looking to make sure the appliances and systems in the home are in proper working order and there are no major repairs.

There are 12 things that can be assessed by an appraiser and be made as “conditions” to be repaired or remediated in order for the FHA loan to go through.

1. Peeling paint – this is particularly critical on any home built before 1978 when lead based paint could have been used on the home. Just bear in mind, an appraiser will note any issues of peeling paint.

2. Appliances – all appliances in the home need to be in working order (refrigerator, stove, dishwasher, etc).

3. Windows and Doors – need to be in working order including no broken window panes.

4. Drainage – there’s needs to be proper drainage for water to flow from the home. ie if a gutter is missing, this will have to be replaced.

5. Health Hazard – there’s some latitude on what an appraiser can assess as a health hazard. The one I’ve seen most often is a automatic garage door opener without the resistance to pop back up if something is it’s way (ie a kid)

6. Abandonded inoperable wells – I’ve not seen this in the Vienna, VA area, but if so, it would need to be capped and sealed by a licensed seal contractor.

7. Hand Rail – I’ve run into the issue many times. Three or more steps and a hand rail is required  for safety reasons.

8. Infestation of bugs, rodents or other animals has to be treated.

9. All plumbing, heating and electrical systems have to be in proper working order.

10. Any structural or foundation problems will need to be repaired.

11. Flammable storage tanks (ie buried oil tank) either have to be removed or filled from the inside and capped.

12. Crawl Space – if the home has one it has to be accessible to the inspector.

If an appraiser notes any conditions to be repaired or remediated, the seller typically handles the repair in order for the loan to be approved. This can cause a delay in the buying process as the appraiser is required to review the home after all the repairs, etc have been completed to make sure everything meets the minimum standards for an FHA loan.

If you have more questions about buying a home with an FHA loan in the Vienna, VA area and the appraisal process, please contact me; 703-919-0254 or nancy@nancyheisel.com