Northern Virginia Real Estate: Vienna, Oakton, McLean, Great Falls, Reston, Fairfax, and surrounding areas.

TGIF! That means it’s time for our Friday Theme Song of the Week. Usually we give you a hint and let you guess what the song is, but this week we have a special treat in store for you. After the record-breaking temperatures we’ve had this summer, we thought it might be nice to sneak a peak backwards into what our world looked like this winter. So enjoy this video of the incredibly beautiful song ”Where You Are” - written, sung & filmed by local singer songwriter Carol Gaylor. And then come visit us at our open houses this weekend! (PS - Carol Gaylor and her partner Bruce Katsu perform locally. Check them out here.)

Open Houses This Weekend:

~ Sunday, August 8th from 2PM to 5PM - Thistle Ridge in Vienna - $1,499,900 & Up

~ Sunday, August 8th from 1PM to 4PM - 10141 Palmer Drive in Oakton- $1,149,900

Thistle Ridge in Vienna - $1,499,900 & Up

Thistle Ridge is a breathtaking new home community from master builder Sekas Homes in Vienna. 9 new homes will be built on beautiful cul-de-sac lots! Four are pre-sold. Five opportunities remain! Prices start at $1,499,900.

Directions to Thistle Ridge: From Rt 123 in Vienna, Proceed North on Beulah Road. Bear left on Clarks Crossing Road. 2nd Right on Brookside Lane. Right on Thistle Ridge to #9604.

Read about “Life In Vienna, VA”

10141 Palmer Drive in Oakton - $1,149,900

Three charming NEW HOMES from master builder Sekas Homes are under construction now on Palmer Drive. Two are under contract. One opportunity remains! Beautiful lots close to Metro. Elegant homes loaded with quality upgrades! 4 bedrooms, 4.5 baths.

Directions: From I-66 West, Exit Rt 123 North, Right Palmer Street, Left Palmer Drive to #10141. Or from Vienna: Route 123 into Oakton, Left Hibbard, Right Palmer Dr.

More Info About 10141 Palmer Drive in Oakton

Contact The Belt Team

Highlights from This Month in Real Estate:

• May 2010 closings were up 19.2% over May 2009.
• One factor likely to have caused this was the First Time Homebuyer Tax Credit that has expired. Does this mean you missed the boat? NO! Watch this video for some great info about how an FHA loan may be able to help you make your homebuying dream come true. Then, Contact The Belt Team for details.

Is your home on the market? Here are a few tips for Sellers on what NOT to discuss with potential Buyers or their real estate agents (regardless of whom they represent). Keep in mind that Buyers want to obtain the LOWEST PRICE and BEST TERMS FOR THEMSELVES. And that your listing agent has YOUR best interests at heart and is experienced & practiced at the best way to handle these questions and how the answers to the questions might impact potential contract offers.

You may be the top negotiator for a government contractor or the best strategist at your law firm or a great mediator in child custody situations - but each field has its own ins & outs. And the same is true for residential real estate - that’s why you hired the best Realtor you could find to represent you!

There are many reasons it’s best for Sellers not to be home when their home is shown, but if for some reason you are there, here’s our list of what NOT to discuss (it’s easy to just refer people to your listing agent if you get asked about these items!)

1. Reason for selling

2. Motivation/urgency to sell

3. Willingness to consider an offer less than the listing price

4. Terms under which you would sell

5. Relocation, timing, benefits & policies

6. Items of personal property which you “might” be willing to include in a sale

7.  Any confidential information that would serve to disclose your negotiating strategy.

Sometimes negotiating is like a poker game. And you don’t want to tip your hand!

Contact The Belt Team if you would like representation as a Buyer or Seller by one of the best negotiators around. We have a track record to prove it!

Old Fashioned Values + Today’s Technology = Sales Success For You!

Here’s a special message for those of you who may be thinking about selling your home in Vienna:

People often ask us what it’s like to be a Realtor (or to work for one!). We hear things like “Oh I LOVE looking at houses - what a fun job!”.  We do love our jobs, but being a Realtor might not involve exactly what you think. So we invite you to join us for “A Day In The Life of The Belt Team”. Here are some “truth is stranger than fiction” examples (all true and by no means comprehensive) of what we do in a typical day. And as you’ll soon learn - no day is “typical”. (Make sure you read all the way to the bottom so you don’t miss the part about the pink tutu!)

6:00AM (Terry) - Work out, breakfast & prayer time. Must be physically fit & spiritually fit in order to be mentally fit. 

7:30 AM (Everyone) - Meet for a Belt Team photo shoot. It’s 37 degrees outside, but pretend it’s warm & SMILE!

8:30AM (Terry) - Receive & forward home inspection results to one of our Sellers. Call her to discuss the findings - including the fact that there is a family of raccoons living in the attic that must be vacated before the Purchasers move in! Spend hours tracking down an animal control company that knows how to do this and can do it QUICKLY. Provide the Seller with the info.

8:30 AM (Tara) - Check the computer and see that we had 17 showings of our listings over the weekend. Send out emails & schedule follow up phone calls to contact each agent that showed our properties so we can provide specific feedback to each Seller.

8:45AM (Christy) - Run the MLS to check statistics - sales, contracts, new listings, average days on market. Analyze & determine the trends. Write the weekly market update for The Belt Team blog.

8:45AM (Terry) - Get an email saying that despite the fact that we received a loan approval letter for the buyer of one of our listings, his loan has since been turned down. His agent has no alternative resources for the buyer and since the contract was contingent on financing, he wants to void the contract. Update Seller on the situation. Contact one after another of our own preferred lenders. Find one who may be able to do the loan. Arrange for him to contact the buyer to see if he can qualify him and offer to provide financing. He follows up & it looks like the contract will go through after all.

9:15AM (Gail) - Meet Purchasers for a home inspection of the house they put under contract in McLean over the weekend.

10:00AM (Pauline) - Meet contractors at home of a Seller client who has already moved out of their house in Oakton. Spend 4 hours getting bids & selecting new appliances, countertops & floors so the kitchen can be renovated before home goes on market - making sure to balance cost of improvements with the benefits of saleability.

11:00AM (Gail) - Home inspection turns up possible mold issues. Buyer has severe allergies. Put buyer in touch with mold inspector. Contact listing agent & negotiate an extension to the inspection deadline. Thank God it’s a Buyers Market in this price range. A few years ago, the buyer probably would have had to make a decision on whether to proceed blindly or lose the house.

11:30AM (Jerry) - Head out on the road to make a delivery to a possible Seller. Deliver a listing portfolio with information about The Belt Team and our marketing plan for homes in Vienna so they will be prepared when we arrive the next day for our appointment.

Noon (Gail) - Teach a Master Class at our Keller Williams office in McLean. Class is open to all Realtors in the community. Topic: “The Price Is Right - Or Is It?”.

1PM (Tara) - Upload listing photos for our new Vienna townhouse listing to all the sites and feeder-sites for the 126 locations we advertise on.

2PM (Gail) - Meeting of the Ethics & Standards Committee at the Northern Virginia Association of Realtors.

3PM (Christy) - Contract ratified and another Belt Team listing sold. Update Twitter and Facebook to announce the listing sold for $156,000 over Zillow.com’s Zestimate. Wonder why people give any credence to online value estimates. That makes 7 listings we’ve sold this year that sold higher than what Zillow said they were worth. Glad our Sellers were smart enough to use a Realtor.

4PM (Pauline) -Get a call from one of our Sellers. The For Sale sign was installed in her yard and her 4 year old wants to know “why is there a stop sign in our yard?”.

4PM (Terry) - Finish a 3 hour conference call to counsel a homeowner who is under water on their home. Sometimes it’s best for them not to do a short sale. Referred to an attorney. No listing for us, but a good feeling of being able to help someone.

4:30PM (Mary Jane) - Meet buyer to show new listing of a condo in Arlington. Buyer loves it. Contact listing agent to check status. First day on market and 5 offers already in. Go back to office to write a contract that will be in buyer’s best interest & also have a chance to compete. Good thing we have experience with this!

5:00PM (Christy) - Special Belt Team Correspondent Ryan R (age 10) has finished his homework. Time to film the webcast of “This Week in Vienna Oakton Real Estate“

6:00PM (Mary Jane) - Receive a call on  a contract ratified two weeks ago. The Seller has decided they are considering our Buyer’s contract void due to a different interpretation of dates and are accepting a different contract at a higher sales price. Buyer subsequently shows up to settlement, but Seller does not show. Seller advises that not only are they considering the contract void, they are keeping the Buyer’s $5,000 deposit. Buyer decides they would rather buy another home anyway, but cannot do so without the $5,000. After hours & hours (and days and days) of negotiation, Mary Jane is able to get the Buyers’ deposit back for them. Back to Square One on finding a home. Schedule an appointment to look at more homes this weekend.

6:00PM (Terry) Arrive at home for sale in Reston to preview it. Knock on the door. No answer. Access the home through the lockbox. Shout out “anyone home?” just in case. No answer. Walk through the house, take notes for potential buyer. Go upstairs to see master bedroom. 250 pound woman comes into the hall wearing a pink tutu. Introduce myself. She asks if I want to see the climate controlled bedroom where she keeps her exotic birds. (Not really - but oh well I’m here and need to see the whole house for my clients!).  

7:00PM (Pauline) Prepare to be tomorrow’s “Realtor On Call” at the local credit union. Review IRS regulations again to ensure ready to discuss the First-Time Homebuyer Tax Credit.

8:00PM (Pauline) - Email photos & detailed notes to a West Coast buyer who intends to write a contract on a home in Virginia sight unseen.

9:00PM (Kevin) - Receive radon test results for a home just put under contract this weekend for a Buyer. Results exceed EPA guidelines. Contact remediation company to get an estimate to remediate & make sure they will provide a warranty. Discuss options with Buyer and draw up an addendum to submit to the Seller.

10:00PM (Pauline, Mary Jane, Kevin, Terry) - Respond to emails that couldn’t be responded to quickly via Blackberry during the day.

Midnight (Everyone) - Thank God that we love our jobs!

(Oh yes, I almost forgot -we showed some houses….LOL)

I Want The Belt Team To Help Me Sell My House

I Want The Belt Team To Help Me Buy a House

I Have Raccoons In My House

Once upon a time . . . a long, long time ago . . . I went to college with a guy named John Leibowitz. He played on the soccer team at The College of William & Mary with a friend of mine. And they roomed together after college.

Anyway . . . that’s just a roundabout introduction to this hilarious clip from The Daily Show with Jon Stewart (aka John Leibowitz). Take a look at this clip and then keep reading below. (By the way - you probably already know, but Timothy Geithner is the Secretary of the United States Treasury.)

While this clip is pretty funny (at least WE think so!), it also reminded us of how some Home Sellers in Northern Virginia approach the market.

Did you think the auction scene in the clip was a little unrealistic? Well, we see that type of approach more often than you think. Sellers have in their mind a certain number they want to sell for - sometimes it’s what they “need”, sometimes it’s based on what they “think” their home is worth, sometimes its based on what they “owe”, sometimes its based on what they paid for it or what their neighbor’s home sold for last year. But it’s not based on TODAY’S market and what real buyers in the market are willing & able to pay.

So the Seller puts his home on the market - to “try” out the unrealistic price - even though their Realtor has counseled them against this strategy. “Let’s just try it for a month or so” is what the Seller might say. The home is shown, a number of buyers come through, but no one makes an offer. Thirty days go by quickly. Then sixty.

Time for a price reduction - right? Nope, the Seller wants to “wait for the right person to come through who appreciates what we’ve done with the house.” So they keep the price the same.

“1.6 Million! 1.6 Million! 1.6 Million! 1.6 Million! 1.6 Million! 1.6 Million! 1.6 Million! 1.6 Million! Please buy the house!”

See the connection?

So - no big deal, right? The Seller will eventually sell his home. But at what cost? Just a 60 day delay? Nope. Statistics show that the longer a home is on the market, the lower the price it eventually sells for. So it doesn’t just cost you time, it costs you money. You need to get it right the first time!

And then there was the whole “blue bathroom issue” in the video.

This is another area where Sellers make HUGE mistakes. Buyers in today’s market expect a home to be pristine and move-in ready. In their mind, that means moving into a home they can live in NOW - without doing any work. And just because blue tile might have been your choice, doesn’t mean it will be theirs - even if it cost you a bazillion dollars to install! But this is a topic for another day. Let’s get back to the whole issue of pricing.

Here some of the DANGERS OF OVERPRICING YOUR HOME:

(1) You will lose the excitement that a new listing generates: Real estate agents are working with buyers who have seen what is currently on the market and are waiting for something new to be listed. Therefore, the most activity will take place in the first 30 days of a listing. Your home will probably receive its highest and best offer during this time. After that initial period, the only people to look at your home will be new buyers in the marketplace.

 
(2) You will lose the most qualified prospects: Buyers won’t be able to even “make an offer” because they probably won’t see your property. They will view the properties that are priced within their purchase power range, knowing that they cannot afford anything above their range.

(3) Overpricing helps sell other, more competitively priced properties first: Your home may be used to demonstrate the good value of other properties. Your objective should be to enter the market in a position that will attract buyers to your home - not to other homes.

(4) Your home may become stale on the market: Prospects may wonder why it has been on the market so long or if something is wrong with the property, even after you lower the price. You may even have to settle for less than market value. A house takes on a reputation surprisingly fast, so don’t wear out your welcome on the market. Statistics also show that the longer a home is on the market, the lower the price it eventually sells for.
 
(5) You lose a strong negotiating position when your house is on the market for a long time, both financially and mentally: Prospects will not “rush” to make an offer on an overpriced property, and you may feel compelled to accept less when they finally do.

(6) If you do get an offer, the contract may fall through because of appraisal problems: The lender must justify the price to the secondary market and as our market has changed we have seen lenders become more conservative in this area.

This is one of the most important reasons to make sure you select the right Realtor. Don’t let an agent “buy your listing” by throwing out the highest suggested list price. While this may sound tempting, it can be very costly to you! A professional and experienced Realtor will provide an honest recommendation and will have your best interests at heart!

If you are thinking about selling your home, don’t be like Timothy Geithner! Contact The Belt Team at (703) 242-3975.

Remember the candy called “Now and Later”?

Well, we get that question a lot in real estate at this time of year. “Should I put my home on the market now or should I wait until Spring?”

Take a look at this two minute video for some answers to that question.

If you’re thinking about selling your home, you may also want to take a look at these FREE downloads from The Belt Team.

90 Tips on Preparing Your Home For The Market

38 Questions You Need To Ask When Interviewing a Realtor To List Your Home

9 Real Estate Myths

How You Control The Sale of Your Home

Why Sellers Choose The Belt Team - An Executive Summary

Top Ten Reasons Sellers Choose The Belt Team

If you would like to talk more about whether now is the time to sell your home, please give us a call at (703) 242-3975. It would be a pleasure for OUR family to help YOUR family make a successful move.

Today is Friday and that means it’s time for the Friday Open House Theme Song of the Week!

The home that we are holding open this weekend is a brand new home in the heart of Vienna - located on Charles Street . . . walking distance to great restaurants, wonderful shops & convenient to public transportation. (Scroll down for info about the open house.)

So our theme song comes from the fabulous location - “Charles” Street.

Do you want to take a guess as to what the song is?

Nope - it’s not a song from Ray Charles.

Nope - it’s not a song from Charles & Eddie.

Drum roll please  . . .

It’s one of our favorites - the music from Charlie Brown Christmas (by Vince Guaraldi).

Here’s where you can find us this weekend:

201 Charles Street, SE in Vienna - Sunday, December 20th from Noon to 3PM

Listed at $1,295,000. Five bedrooms. Four and a half baths. Three finished levels.

Directions: From Tysons: Route 123 South, Left Branch Road, Right Locust Street to corner of Charles Street on the left. Or from Vienna Metro: Nutley Street to Vienna, Right Maple Ave (Rt 123), Right Glyndon Ave, Left Locust to corner of Charles Street on the right.

The Holiday Season is a wonderful time of year. Time for gratitude, celebration, and oftentimes a time to travel. As we enter the Holiday Season, we’d like to remind you to keep your home safe while you are away- especially in light of all the “new” ways we are in communication with one another.

Here are some tips:

(1) Be careful with your status updates on Twitter, Facebook, etc. Don’t be too specific. For example: “Can’t wait to see Grandma & Grandpa” might be better than “Leaving for Ohio in 2 hours. Back on Sunday.”

(2) If you still have a newspaper delivered instead of reading online, make sure you suspend delivery.

(3) Take advantage of the “nosy neighbors” you have (assuming you trust them!). Ask  him or her to keep an eye out while you are away. Make sure they know how to reach you in case of an emergency.

(4) Think twice about setting up an auto-responder or voice mail message that says you are out of town - expecially if you work from a home office. A better idea might be to just say you are not checking messages until a certain date (as if you’re taking a “Stay-Cation”.)

(5) Set up timers on certain lights in your house. Install motion detector lights outdoors.

(6) Don’t forget to lock the interior garage door. Exterior doors are relatively easy to compromise.

(7) Stop your mail. Or have a neighbor collect it daily.

(8) Don’t publish your physical address or personal information on your social media profiles on LinkedIn, Facebook, etc. It’s amazing how many people advertise their birthdate, home address and more - just because the site asked you to fill it in when you set up your account. It’s not just children who do this, but many adults who are new to the world of social media are guilty of this as well. Even if your site is “friend-protected”, you’d be surprised at what web-savvy folks can find out. Be discreet!

(9) You can always employ the tactics of Kevin McAllister in “Home Alone”!

Last week, someone asked why we post music videos on our blog on Fridays. (If you’ve been following, you know that we post a video & tie it in to our weekend open houses - songs like “This Town”, “If I Had A Million Dollars”, “The House Is A Rockin”, “If I Had A Hammer” - well you get the idea.) Anyway - if the question is why we post music videos on our blog, the answer comes from the Stray Cats - circa 1989. They had a song called “Everybody Needs Rock N Roll”. Unfortunately, we don’t have a video of that song - so we’ll just have to “Rock This Town” instead! (Scroll down below the video for this week’s open houses.)

Come & visit us at our open houses this weekend. We’ll be Rockin This Town! Here’s where you can find us:

~ Saturday, October 24th from 10AM to 6PM at Francis Young Estates in Vienna

~ Sunday, October 25th from 11AM to 1PM at 603 Glyndon St SE in Vienna (for the home that is to be built at 206 Talahi Rd, SE)

~ Sunday, October 25th from 1PM to 4PM at 8625 McHenry St in Vienna

~ Sunday, October 25th from 10AM to 6PM at Francis Young Estates in Vienna

603 Glyndon Street SE (for 206 Talahi Rd SE) in Vienna - $1,250,000

(Visit the home on Glyndon to get an idea of the home to be built on Talahi Road. Same builder, same model!)) 

Custom craftsman style home to be built by Clear View Homes in sought-after neighborhood in Town of Vienna! Gorgeous open floorplan, 9′ ceilings, gourmet kitchen w/center island, family room with gas fireplace, luxurious master suite with gas fireplace and oversized walk-in-closet* Upgraded finishes * Walk everywhere! Still time to customize! Madison HS!

Directions to open house: From Tysons: Route 123 South into Vienna, Left Park St, Left Talahi Rd, Left Glyndon St to #603.

Directions to location of home to be built: From Tysons: Route 123 South into Vienna, Left Park Street, Left Talahi to Keller Williams sign on lot on left at #206.

8625 McHenry Street in Vienna - $735,000 (PRICE IMPROVED!)

Enjoy a sunny, bright floorplan, hardwood floors through most of the main level, a delightful sunroom with gas fireplace, updated kitchen, fully finished walkout lower level & more. All on a gorgeous half acre+ lot in the Madison HS pyramid AND convenient to Dunn Loring Metro!

Directions: From Cedar & Park: Left on McHenry to #8625. From Route 123 (Maple Ave) in Vienna: South on Park, Left on McHenry.

Francis Young Estates - Prices start at $1,199,900 .

15 gorgeous new homes on two cul-de-sacs in the Madison High School District! Four opportunities remain! Homes are Energy Star Certified and built by master builder Sekas Homes.

Directions: From Route 123 in Vienna, North on Beulah Rd about 3/4 mile to new cul-de-sac on left just past State Street.

Contact The Belt Team directly at (703) 242-3975 if you have questions about pricing, features, floorplans, options, etc…

The Belt Team . . . Serving all of your real estate needs in Vienna, Oakton, McLean, Great Falls, Arlington, Reston, Fairfax and the entire Northern Virginia Region! Contact us today for a FREE home valuation or buyer counseling session!