What type of home buyer are you?

What type of home buyer are you?

What type of home buyer are you? It is important that you answer that question before getting too involved in a home search.
There are three basic types of home sales. Each one can have advantages and disadvantages.

 Fair Market Sales

  • Typically the easiest to find, financ
  • Can tend to be overpriced, but not always.  Can be negotiated with many sellers
  • Most Realtors are well versed in the fair market process
  • Properties are often not vacant
  • Owner impact on the property will be more obvious
  • Owner may be willing to make repairs
  • Owner may be willing to add closing costs

 Foreclosures

  • Easy to find in today’s market
  • Financing may be hindered by property condition – may require a renovation What type of home buyer are you?loan
  • May be damaged by previous owner – or may need more repairs due to previous owner’s inability to keep the property up during their financial struggle
  • REO companies do not like to do repairs – normally sold “as is” – may do system repairs due to necessity
  • Prices tend to be lower because it’s a foreclosurewww.
  • More room for price negotiation than short sales
  • Closing is about the same as Fair Market once a contract is ratified
  • REO companies may be willing to add closing costs
  • REO companies want things to move swiftly once the contract is ratified – they don’t like contingencies
  • Buyer may be subject to per Diem fees if he/she is responsible for a delayed closing
  • Not all Realtors are familiar with the REO process, but it is easier to learn on the job

 Short Sales

  • Easy to find in the current market
  • Listing price may not have been approved by the lender prior to listing
  • Will require more time to secure contract acceptance and ratification – can be as long as 3-6 months, and beyond.  There are signs that banks are finally accepting the inevitable and are processing short sales more quickly.
  • Just because a seller says yes to a purchase offer doesn’t mean that the buyer has a good contract.  The third party may not accept the buyer’s offer.  Then Buying a Short Sale in Winchester VAagain, the third party may counter the offer.
  • The buyer cannot fall in love with the property.  There are numerous things that can go wrong.  Advise the buyer not to fall in love with anything that can’t love him/her back.
  • Financing is similar to fair market financing
  • If the buyer has the time, patience and money to buy, it can be a great option.  Many short sales are equal to and/or lower than foreclosure prices.
  • Not a good choice if time is a factor
  • Houses tend to be in better condition
  • The short sale company will almost never do repairs.
  • Short sale companies do not like any contingencies
  • Short sale companies almost never offer closing costs
  • Short sale companies may try to change the rules at the last minute affecting Realtor compensation and seller contributions to the sale
  • Not always vacant
  • Not all Realtors are familiar with the short sale process – this can hinder the entire process

All three types of purchase should be considered when looking at homes for any, and all buyers.  The buyer’s circumstances may be more of a consideration than the type of home purchased. Regardless of the type of home buyer you are, Cornerstone Business Group, Inc. can help you find the right house at the right price. Give your Cornerstone Business Group, Inc., agent a call today. We are your local real estate sales pros.

What type of home buyer are you?

Sell Your House With the Wow Factor

Sell Your House With the Wow Factor

I’ve shown a lot of houses recently, so it gets harder and harder to be wowed by a home. Like so many things, if you are inundated with them, they become mundane. After showing dozens of houses each week, they all seem the same unless there is something that sets them apart, and that something is what I call the Wow Factor. Sell your house with the wow factor

What is the Wow Factor?

For instance, when you list your house, there are certain things that contribute to the Wow Factor, such as:

Have your home clean.

A house that smells clean is a great place to start. Have a friend give you an honest assessment as to whether your home has a smell that is distinctly yours. If so, scrub the house top to bottom, paint, shampoo carpets and

Wow factor

Sell your house with the wow factor

remove or clean anything that is smelly in itself, like cat litter, dog beds, sports equipment, etc.

Bring in the light.

Light is one of your best friends when selling a house. The more light, the better. If you have dark drapes, always have them wide open. Be sure all areas are property lit. Have all light bulbs working. I encourage you to use LED lamps over other forms. They give a whiter light, costs less to run, come on instantly and they don’t get hot.

Kill the clutter.

Rent a storage container to house unnecessary items. Most people have things that can be stored and not missed for a few weeks. Make the home lived in, but not overly so.

Make is easy to see.
If you are living there while tying to sell, it will be a bit more of a challenge to make the home readily available at a moments notice. But remember, the harder it is to show, the longer you will have to put up with the challenges of keeping it in pristine condition. Expect to be encouraged to leave at the most inconvenient times. It will happen. I regularly ignore homes that have 12 – 24 hour wait times to show. Most clients are on a schedule, and that can be too far outside of their ability to view the property. Make it easy to show.
Make sure it is well appointed, but not overly so. 
What does that mean? Only keep things out and visible that need to be out and visible. A coffee pot on the counter is common, but a food processor, juicer, toaster, dishes in a drain rack and a host of there things might be overkill. Keep counters clean, clear and uncluttered. The same is true of every room in the house.
Keep personal items out of sight. 
Don’t leave mail on tables. Keep those areas free of personal items that buyers don’t need to see and shouldn’t see. 
Avoid artificial smells. 
No potpourri, air fresheners, incense, etc. Let the cleanliness of the home be the smell buyers are greeted with.
Always have fresh towels in the bathroom, keep the toilet seat down and make sure soaps on sinks are decorative and not used. 
A clean fresh smelling bathroom is a big plus. Dirty or wet towels hanging over the shower stall is a turn off. Make your bathrooms look like they are waiting for privileged guests in a high-end hotel, inviting and ready. 
Shine the floors. 
Beautiful hardwoods are a home-buyers dream come true. Shiny clean hardwoods are a step toward a contract. 

Most of my Wow Factor items relate back to cleanliness. Home buyers want to feel they are viewing the prized possession of the seller. Make sure you leave it that way for them every time you walk out the door. When you’re ready to sell, make sure to give your Cornerstone Business Group, Inc., real estate agent a call. We are your local real estate sales pros.

Sell Your House With the Wow Factor

Winchester, VA Real Estate Market Update – 1st Quarter 2016

Winchester, VA Real Estate Market Update – 1st Quarter 2016

Winchester, VA Real Estate Market Update - 1st Quarter 2016

Winchester, VA Real Estate Market Update – 1st Quarter 2016

The Winchester, VA real estate market update for the first quarter continued to post positive results. The sales volume in nearly unchanged from 2015, but the volume of distressed properties (short sales and foreclosures) have dropped significantly. The Winchester, VA real estate market is showing a healthy and growing market.

The sales volume for the Winchester, VA real estate market in the first quarter of 2016 was 313. The sales in the same period of 2015 was 314. The number of distressed properties in 2016 was 34, or 11%. During that same period in 2015, the distressed sales were 53, or 17%.

Stephens City, VA Makes Up 24% of Total First Quarter Sales.

The number of sales in Frederick County, VA were 249 with the City of Winchester adding 64 to the area total. Frederick County, VA is broken up into numerous small communities with different zip codes. Stephens City, VA 22655 is one of the larger communities in Frederick County, VA. Stephens City, VA accounted for 75 of the total county sales which equates to 31% of total county sales, and it was 24% of the total Winchester – Frederick County, VA sales for the first quarter.

The Stephens City area is a great location for commuters. It rests along Interstate 81. Interstate 81 is paralleled with Rt 11 which runs north and south through the valley. Another benefit of the Stephens City area is its easy access to Rt 66 which leads in the Metro DC area. The Stephens City community is minutes from the City of Winchester, Front Royal, Strasburg, Middletown and White Post.

Even though Stephens City is growing at a rapid rate, it still offers a small town rural feel. When you’re ready to buy a home in the Winchester – Frederick County, VA area, be sure to give Stephens City a look, and when you’re ready to buy, give your Cornerstone Business Group, Inc., Realtor a call. We are your local real estate sales pros. #cornerstonehomesales, #mikecoopersellershomes

Winchester, VA Real Estate Market Update – 1st Quarter 2016

Stephens City, VA real estate market 2016 had a good 1st quarter.

Stephens City, VA real estate market had a good first quarter in 2016

The Stephens City, VA real estate market had a good first quarter in 2016. There were 75 homes sold with only 5% of them being distressed (short sale or foreclosures). The market is steadily returning to stability. The Stephens City, VA real estate market made up 24% of the homes sold in the Winchester / Frederick County, VA first quarter of 2016.

The minimum price a buyer paid for a home in Stephens City, VA in the first quarter of 2016 was $89900Stephens City, VA Real Estate Market Had a Good First Quarter in 2016and the maximum was $464,530. The average price was $235,343. The average corresponds to other areas of Frederick County, VA. The average days on the market was 77 with the minimum being 0 and the max being 549.

Of those sold, 28 had 3 bedrooms and 2 baths. Twenty-four had 4+ bedrooms and 2+ baths. Four had 2 bedrooms and 1 bath, and the remaining number fell into a mystical place we call “other.”

What type of homes were sold? 

Homes sold the following categories:

  • 32 – Colonials
  • 19 – Ranchers
  • 6   – Split Foyers
  • 6   – Traditionals
  • 2   – Cape Cods
  • 2   – Contemporary
  • 1   – Rambler
  • 7   – Other (Townhouses, Condos, Manufactured Homes)

New construction has picked up in the Stephens City, VA real estate market. Most homes sold in the first quarter were previously owned homes, but the new home market is beginning to have its own revival. Stephens City, VA is close to numerous highways, making it a great place to live for easy access for commuters, shoppers, students and just about everyone else.

When you’re ready to buy or sell in the Stephens City, VA real estate market, be sure to give your Cornerstone Business Group, Inc., agent a call. We are your local real estate pros.

Stephens City, VA real estate market had a good first quarter in 2016