The days are short, the weather is cold and the cheery holiday atmosphere is in the air! As we come to an end of the air, we must look at the housing market as well! Like all winter seasons, this one has similarities that show that the winter is here.  The inventory has gotten low and with the low interest rates, the market is showing signs of a seller’s market in most areas. However, the average absorption rate for the Northern Virginia is at 5.7 months, which is considered a “normal market.”

As always, I calculate the absorption rate for the DC Metro Area. These numbers are the calculation of the supply and demand of real estate inventory. So, what do these numbers mean? Typically, if absorption rate is 5-7 months, it is considered “normal market.” If it’s below 5, it’s a “sellers market” and if it’s above 7, then it’s a “buyers market.”  The percentage indicates how the market has improved (↑) or declined (↓) compared to last month.

Absorption rate is calculated by dividing the total number of active and pending listings by the number of homes sold in a month. The resulting answer let’s us know how many months it will take to sell the entire inventory of homes. I love numbers and have started to calculate the absorption rate for the , more specifically, I will be focusing on Northern Virginia since that’s my area of expertise and state of licensure.

The numbers used for my calculations are from MRIS MLS and are deemed reliable but not guaranteed. Remember, real estate is local so here are the absorption rates for last month in Northern Virginia:

So if you’re a seller and want expert advise to list your home or a buyer and want to roam around to find your next home, call me today at 703-577-4320!

I hope you and your family
have a GREAT THANKSGIVING!!!

Since we set our clocks back every fall, it’s a good time to do a few things around the house at the same time to ensure the safety of your family.

Make sure to take care of the following household tasks on Sunday:

• Change all the batteries in your smoke detectors and carbon monoxide detectors.
• Go over house evacuation rules with your family and practice what to do in case of an emergency.
• Check to make sure your fire extinguisher is working and everyone in your house knows how to use it.
• Check your fireplace/flue to ensure they work properly.
• Get out your winter clothes!

If it’s important for you to stay on schedule this Sunday, remember to set your clocks an hour back before you go to bed on Saturday.

Enjoy an extra hour of sleep and welcome to Fall!

Hurricane Sandy at peak intensity on October 25, 2012

Last week has been a busy week for everyone! Hurricane Sandy took a devastating tool on the east coast. Many were affected by the storms and lots of homes were damaged. Remember, claims are processed on a first-come, first-served basis, the high volume of claims is sure to delay payments significantly. So, if your home was in the devastating path of Sandy, here are some tips to help you in filing your insurance claim!

Maintain an inventory of household items.
Receiving a fair payout for damage to one’s home and belongings begins by making a list of what you own, particularly the more expensive items, including what they cost, even if it’s only an estimate. Taking photos or shooting video while you describe the items and how much you paid for them works too. And, if possible, take digital photos and video, which you can store online on websites like Flickr and Picasa. That way, you can access them in the event your computer is damaged.

If you have receipts saved for your more valuable items, take photos of those, as well. 

Understand scope of your coverage.
Knowing what your insurance policy covers and what it does not is essential to getting through the claims process quicker.

When it comes to hurricanes and other major weather-related damage, it’s important to remember that standard homeowners insurance does not cover flood damage. And if you have not purchased that separately, you will not be able to get reimbursed for damages caused by flooding.

In addition, New York, New Jersey, Rhode Island, and 15 other states let insurers include deductibles in their homeowners insurance policies in the event of a hurricane. Such deductibles vary from 1 percent to 5 percent of the insured value of the home.

Quickly document damage and make only temporary repairs.
After the storm, once it’s safe to move about, it’s important to take photos of the damage right away. Comparing these photos to the ones taken before the storm can be used to establish the ­value of items that are damaged or ­destroyed.

If holes have been torn in your roof or windows are broken, cover them quickly to prevent further damage, but don’t make any permanent repairs. But take photographs or videos of the damage before you start working.

Be prepared to negotiate.
Once insurance adjusters look over the damage, they will determine the size of your payout. If that figure seems too low, ask the adjuster to show you the contract language and justify the proposed amount.

If you’re still dissatisfied, get a second or even third opinion on the cost of repairs from independent contractors.

SOURCE: http://bostonglobe.com/business/2012/11/01/after-sandy-tips-filing-home-insurance-claims/8xMRgVxfib6vHWC4IURTAN/story.html

The weather has started to get cooler and there are a lot things happening with the market!  Fall is here and pretty soon we’ll be all busy with holiday festivities.  There has been significant change from last month, October’s market continues to show a balance between supply and demand.  The average absorption rate for the Northern Virginia was 6.0 months, which is considered a “normal market.”  However, some areas were still a sellers market while others continue to remain a buyers market.

As always, I calculate the absorption rate for the DC Metro Area. These numbers are the calculation of the supply and demand of real estate inventory. So, what do these numbers mean? Typically, if absorption rate is 5-7 months, it is considered “normal market.” If it’s below 5, it’s a “sellers market” and if it’s above 7, then it’s a “buyers market.”  The percentage indicates how the market has improved (↑) or declined (↓) compared to last month.

Absorption rate is calculated by dividing the total number of active and pending listings by the number of homes sold in a month. The resulting answer let’s us know how many months it will take to sell the entire inventory of homes. I love numbers and have started to calculate the absorption rate for the , more specifically, I will be focusing on Northern Virginia since that’s my area of expertise and state of licensure.

The numbers used for my calculations are from MRIS MLS and are deemed reliable but not guaranteed. Remember, real estate is local so here are the absorption rates for last month in Northern Virginia:

So if you’re a seller and want expert advise to list your home or a buyer and want to roam around to find your next home, call me today at 703-577-4320!

The leaves are changing colors and the weather is getting crisp.  This is a sure sign that fall is here and the market will start getting cooler along with the weather.  Nothing major has changed from last month, September’s market continues to show a balance between supply and demand.  The average absorption rate for the Northern Virginia was 6.9 months, which is considered a “normal market.”  However, some areas were still a sellers market while others continue to remain a buyers market.

As always, I calculate the absorption rate for the DC Metro Area. These numbers are the calculation of the supply and demand of real estate inventory. So, what do these numbers mean? Typically, if absorption rate is 5-7 months, it is considered “normal market.” If it’s below 5, it’s a “sellers market” and if it’s above 7, then it’s a “buyers market.”  The percentage indicates how the market has improved (↑) or declined (↓) compared to last month.

Absorption rate is calculated by dividing the total number of active and pending listings by the number of homes sold in a month. The resulting answer let’s us know how many months it will take to sell the entire inventory of homes. I love numbers and have started to calculate the absorption rate for the , more specifically, I will be focusing on Northern Virginia since that’s my area of expertise and state of licensure.

The numbers used for my calculations are from MRIS MLS and are deemed reliable but not guaranteed. Remember, real estate is local so here are the absorption rates for last month in Northern Virginia:

So if you’re a seller and want expert advise to list your home or a buyer and want to roam around to find your next home, call me today at 703-577-4320!

Here is some of the reasons why you should use a local lender:

1. You can meet local lender face to face. Meeting with someone face to face doesn’t just establish a relationship but also makes people more sympathetic towards each other. When things go wrong or need more clarification, the loan officer can “care” for you and your family and will know how it effects you.  When you use an “online lender” you’re nothing but a number to them and will receive less care when things need extra attention.
2. They have knowledge of the local market. A local lender will know what special programs may be available in certain areas. The will also know local market conditions and will try to figure out a customized solution for you after they’ve reviewed all documentations. A “online lender” will only look at your numbers and give you an “approval” or “denial” letter based on the documents without understanding the reasons behind them.
3. They have relationships. Most Realtors® know 2 or 3 local lenders that they are actively working with. This creates an advantage because the loan officer knows that providing poor service will hurt their future referrals from that agent and possibly even their company. So don’t be afraid to ask your Realtor for a recommendation.

Local lenders have a vested interest in keeping everyone happy.  They know that if they screw up a relationship with a buyer, seller, Realtor® or settlement agent, they will hurt their chances of future business from their local market.

So if you’re ready to embark on a journey and find local experts, give me at call at 703-577-4320.

1) Always carry a cell phone on you with 911 as a quick dial option.
2) Be aware of all exits. In case of an emergency you should be able to direct everyone, including yourself to safety.
3) Keep prospective buyers in a group while showing a property.
4) Do not conduct an open house into late hours.
5) Allow the client to enter a room while you wait by the entrance.
6) Utilize your vehicle for showing properties or ask your customer to follow you in their own car. Never allow a complete stranger in your vehicle.
7) Provide a colleague or supervisor your itinerary beforehand so someone is aware of your whereabouts.
8) Guard yourself with pepper spray and keep it handy.
9) Do not wear or carry expensive accessories (jewelry, handbags, etc.). Also limit the amount of cash and credit cards you have in your possession.
10) Trust your intuition. Remember, if your gut tells you that something is wrong immediately leave. It is certainly better to be safe than sorry.

School has started and most people are almost done moving.  As I had predicted last month, August’s market showed a balance between supply and demand.  The average absorption rate for the Northern Virginia was 5.6 months, which is considered a “normal market.”  However, some areas were still a seller’s market while others continue to remain a buyers market.

As always, I calculate the absorption rate for the DC Metro Area. These numbers are the calculation of the supply and demand of real estate inventory. So, what do these numbers mean? Typically, if absorption rate is 5-7 months, it is considered “normal market.” If it’s below 5, it’s a “sellers market” and if it’s above 7, then it’s a “buyers market.”  The percentage indicates how the market has improved (↑) or declined (↓) compared to last month.

Absorption rate is calculated by dividing the total number of active and pending listings by the number of homes sold in a month. The resulting answer let’s us know how many months it will take to sell the entire inventory of homes. I love numbers and have started to calculate the absorption rate for the , more specifically, I will be focusing on Northern Virginia since that’s my area of expertise and state of licensure.

The numbers used for my calculations are from MRIS MLS and are deemed reliable but not guaranteed. Remember, real estate is local so here are the absorption rates for last month in Northern Virginia:

So if you’re a seller and want expert advise to list your home or a buyer and want to roam around to find your next home, call me today at 703-577-4320!