Winchester, VA Market Trends – Mid-Year 2012

The Winchester, VA real estate market is changing monthly.  The 2012 trend has seen a slight reduction in inventory, but there is a more positive trend evolving.  The number of foreclosures and short sales have dropped considerably since the beginning of the year.

The current available listings above $20,000 in Winchester, VA total 470.  Of that number, only 19 are foreclosures and 37 are short sales.  That’s a serious drop in distressed properties as of July 2012.  The opportunity for a buyer to buy a discounted property is quickly passing.

Winchester, VA Real Estate Market Trends - Mid-2012

Statistically, Winchester, VA is seeing a decline in short sales and foreclosures. That’s a good trend for the market.

Even though the number of distressed properties have declined over the past six months, the number of short sales have surpassed the number of foreclosures.  That’s an indicator that the homeowners who were trying to stick it out in hopes that the economy would recover have finally given in to the reality that the economy is still struggling, and so are they.

If you’re thinking about buying a short sale, or if you’re thinking about selling your home as a short sale, give us a call.  We’ll put our talented Cornerstone staff to work for you.

Before you list your home as a short sale in Winchester, VA . . .

Winchester, VA, was hurt by the recession just like most communities around Frustrated manthe US. The housing market took a huge hit, and REOs popped up everywhere throughout 2008-2011.  In mid-2011, short sales started to pick up popularity with underwater homeowners.

The local housing scales are starting to tip in favor of short sales today rather than foreclosures.  Because of that, homeowners need to have a better understanding of what is involved in a short sale in order to make the process less painful.  If you’re not prepared, they will be painful.  A few simple preparatory steps can make the process more fluid and less stressful.

  • Contact your lender before listing your home.  Tell them your circumstances, and ask them for permission to list your home as a short sale.  Don’t list it before you speak with your lender.
  • Ask them if they will send you a short sale package to help you get started with the process.  Some banks only want you to use their package.  It’s best to do this well – one time – up front.
  • The short sale package will ask for things such as:  A hardship letter stating why you need to short sale your home, 3-6 months of banks Listsstatements, 2-6 months of pay stubs or income verification, a financial statement showing debts/income, 1-2 years of tax returns and information on a second mortgage is you have one.
  • Contact a reliable experienced Realtor who knows short sales. Make sure the agent can provide references from successful short sales.  Every agent who has the certification “expert” associated with his/her name is not necessarily an expert.
  • Make sure you price your house to sell.  Don’t price it to give it away.  Your lender will likely reject offers that are coming in radically out of sync with the market.  You’ll frustrate yourself and your potential buyers.
  • Stay on top of things.  Keep your short sale package up to date.  Each month, replace the oldest documents with the most recent documents.
  • Keep your payments current. If you stay current, many lenders will allow you to purchase another more affordable home at the close of your short sale.
  • If your circumstances change and you desire to keep your home, call your lender right away and discuss your options for a loan modification.

Don’t ignore the obvious.  If your home is putting you in extreme stress, consider a short sale.  And, if you do, call your Winchester, VA, short sale pros – Cornerstone Business Group, Inc.

And man was one . . .

Forty-three years ago today, the world stood still and watched one of the most amazing events of mankind.  For a few brief moments, enemies set aside their differences, friends stood in awed silence, individuals ignored their biases, families gathered together and gazed quietly gazed off into space, the intolerant forgot their intolerance and in a unique way, the world was one.

No matter what divided man, in that fateful moment, he was one with every other man.  It was a revelation that mankind can get along, and even thrive under the right conditions.  The irony of it all is that it didn’t require anyone to accept anyone else’s beliefs, thoughts or opinions.  In that one moment, mankind was united in a universal hope that a fellow human being would be successful and safe.  Take a look:

The incubator of genius can be a lonely place until it hatches a great idea.

I realize it’s Summer, and I know it’s supposed to be hot, but that doesn’t mean I have to like it.  I’m more of a Fall season person.  The only really exciting thing for me with summer is I get to swim.  I’ve always been like a fish to water.  So, summer heat gives me plenty of reasons to jump in the pool.

Recently, I was swimming around my pool and it dawned on me that the water was asSwimmingwarm as my shower water.  It wasn’t nearly as refreshing as I was expecting, and then I had an “aha” moment.  My boys are starting to worry about me because they think I’m becoming the nutty professor, but it was a rational idea.

I don’t have a sophisticated water cooling system with my pool, but I’m sure some brainiac has created one somewhere.  In the absence of such a wonderful invention I decided to see if I could drop the temperature of the pool with, yep, you guessed it, ICE.  I did a small experiment the first time, and it was nice.

ProfessorToday, dropped in two large buckets of ice, which I had frozen in chest freezer, and bingo!  The water dropped about 5 degrees.  It’s hard to reduce the temperature of 32,000 gallons of water.  (Disclaimer: I only measured the temp in one end.  Of course it was the one the ice and I were in.)  But, if 3 gallons of frozen water will drop it that much, how much will 10 gallons drop it.  OK, math wizards, give it your best shot.

As they say, “Necessity is the mother of invention,” and if your business is struggling, what can you do to make it thrive?  It might take an “out of the box” idea to put you over the top.  Don’t assume your idea is crazy or won’t work just because others haven’t done it yet.  The incubator of genius is often a lonely place until it hatches the next great idea.  Dream.  Dream big, and if your dreams don’t scare you, you’re not dreaming big enough.