Buying Archives - Page 2 of 4 -

Love Letters – To Send or Not to Send

In markets such as the one we are in now, Realtors are often requested by their buyer clients to forward a “love letter” from the home buyer to the seller thinking that this letter will give them an edge over other offers. These “love letters” often tell the seller about the buyer, the family, and how much they love the home and their plans for the future. Buyers will also include pictures of themselves, their children or pets. Also included is information about their marital or familial status and sometimes religious affiliations.

There isn’t a hard and fast rule stating that love letters are not allowed, but as a listing agent, I always advise the seller to ignore the love letters while making their decision. Love letters on the surface seem like a way to enter the seller’s heart, however, they expose the seller and the real estate listing agent to potential Fair Housing violations.

While a love letter appears harmless, they can contain personal information such as race, familial status or religion which can then be used as an unconscious bias in choosing the winning offer. This can lead to Fair Housing violations which is a big concern.

If you receive a love letter as an agent, it is best to not read it at all or forward it to the seller. If you are buyer agent and your client wants to write a love letter, it is best not to help facilitate sending that letter to the seller or the listing agent.

When choosing an offer in a multiple offer situation, the seller as well as the listing agent should be objective and look at the facts in the contract to facilitate choosing the offer with the best terms for the seller. The seller should make decisions based on the offer that works best for them without consideration of any love letters the buyer may have sent.

When selling your home, it is a good practice to look at the process as a business transaction and look at the complete picture of the offer including the sales price, financing terms, closing date and types of contingencies the offer may have.

I feel like it is much better to take the love letters out of the equation and be safe by choosing an offer with the best terms. In the long run, staying away from any potential Fair Housing issues is the best course to follow.

5 Tips to Help you on Your Home Buying Search

Buying

Buyers in today’s real estate market are facing some shifting market conditions. If you are starting your home search, take note of the tips below to help make the process smoother and to ensure you are ready to start the search for your new home. They are not in any particular order, so you can do them in your own fashion.

Know Where You Want to Live – Researching towns and neighborhoods is vital in the home buying process. Before you start going out to open houses or viewing homes, take some time to research the area amenities that you desire. Check out the local schools, shopping, transportation needs, etc. Also, check with the local police department on what areas are having issues with crime. And then drive around. Driving through neighborhoods will give you the most information in your home search because it will tell you who the neighbors are, you will gain a feel for living there and understand if the neighborhood offers you the things you want such as a community pool or walking trails
Get Your Pre-Approval – meeting with a lender can be a frightening experience as all your financials are out there for them to see. But there is so much valuable information that you can gain by meeting with the lender and its a required step as part of a home purchase, so mark that off the to do list as soon as possible. The lender is going to help you understand what kind of loan and how much you qualify for. This is important information as you will walk away with an understanding of how much home you can afford which will help you determine the areas you can move to. In addition, they will let you know how much money you need to have
Interview a realtor – Once you have a sense of where you want to live and know how much house you can afford, you should find a realtor who you not only feel comfortable working with, but who you have confidence in while you purchase your home. Friends and family are good sources of referrals if you don’t know someone. You can also check your local board of realtors or social media for agents who demonstrate strong local and professional knowledge.
Make a list of your wants/needs in a home. Do you want a garage? Do you need to be in a certain school district? How many bedrooms and bathrooms do you need? How much land do you need? Do you want a community pool?
Educate yourself on the process. Your realtor can help you understand the process and what to expect, but it never hurts to know more about the area market and what is happening with rates, home sales, etc.

This will hopefully give you a strong start to the home buying process. If you need any help or have questions, feel free to reach out to me. Sonja Adams – [email protected]

What does $1 Million Dollars Get you in Northern Virginia?

Buying, Local, Selling

Today we spotlight what you can get in Arlington County, Fairfax County, and Loudoun County if you bought a home for a million dollars in the last 30 days. All of these homes sold recently and give you a flavor of what you can get for your money.

ARLINGTON:

Cute 1800 square foot home built in 1925 with 3 bedrooms and 3 ½ bathrooms on 2318 N Dinwiddie St, Arlington. This home has been completely renovated with a small open kitchen, living room and eating area on the main level. The bathrooms have shiplap on the walls and are beautifully upgraded. The basement is finished and opens to a resort like backyard with a pool. This home is in a great location off of Route 29 in Arlington on a quiet street.

FAIRFAX:

In Fairfax County, 1 million dollar buys you a home built in 1966 located in the Woodson High School district. It is an expanded colonial with 2838 square feet of living space and a pool for outdoor enjoyment. Purely coincidence that both our featured homes in Arlington and Fairfax Counties have pools. This home has some lovely updates inside with a completely renovated kitchen in 2019 including quartz countertops. Bathrooms and lower level were also renovated in the last couple of years. This home is in a great location not far from Dunn Loring or Vienna metros and provides an easy commute.

LOUDOUN:

Everything changes when you go out to Loudoun County! Not every home will have 12 acres like this home in Lovettsville, but 14346 Milltown Rd gives you a taste of the country just 15 minutes to the Dulles Greenway or Marc Commuter Train. This home has 4303 finished square feet, lovely wrap around porch, updated kitchen, 4 bedrooms and 3 ½ bathrooms. In addition to all of this, the basement was finished in 2020 with a guest room and kitchen. Hello Air BNB or inlaw suite?

If you have any questions about these recently sold homes, DM me!

Sonja Adams

[email protected]

703-963-7407

December 2020: Loudoun Market Report

Buying, Housing Market Updates, Selling

The Loudoun County housing market continued to be strong in December with sales surging in most areas. A total of 644 homes sold in December in Loudoun County which was a 32.5% rise from 2019. Chantilly received the strongest growth where sales doubled from last December! Yes, a 100% increase in home sales in Chantilly from December 2019 to December 2020. Purcellville was the only market that had a drop in sales in Dec from 2019 to 2020 – a drop of -12.5% occurred.

Pending sales continued to grow in Loudoun for the 7th consecutive month. Pending sales jumped 45.4% to 410 pending sales from last year. Both Sterling and Ashburn pending sales were up by 125% and 50% from last year. Lovettsville saw a decline in pending sales – down 80%.

Inventory is still low throughout Loudoun County and home prices continued to rise because of the low inventory and the amount of active buyers looking for homes. The December median home price in Loudoun County was $542,250 which is a 4.3% increase over last year. Both Ashburn and Leesburg though saw a median sales price increase of $100,000 this month compared to a year ago.

The Loudoun market is still seeing Active listings shrink rapidly. Only 231 listings were active at the end of December which is a reduction of 318 listings from last year.

What does that mean to you if you own a home in Loudoun County? It means its a great time to sell! If you are considering selling, please call Sonja Adams at 703-963-7407 for a complete market analysis of your home. This is a market you don’t want to miss! Call Sonja Today!

Northern VA and Loudoun County 2020 Single Family Home Market Stats

Buying, Selling

Living in Ashburn Village

Buying, Local, Selling

Ashburn Village is one of the main attractions for home buyers moving to Ashburn, VA…probably the biggest reason is the Sports Pavilion. The Pavilion is over 32000 square feet and holds Aerobics Classes, Spinning classes, a weight room, numerous cardio machines, an indoor pool with its own set of classes, an Advanced Training Center, sauna, steam room, a full size gymnasium with basketball courts, indoor tennis courts, child care and a small marina for non motorized boats….all this comes with your Association Dues.

In addition to Sports Pavilion, there are 3 recreation centers with pools, tennis courts, tot lots, jogging and biking trails and soccer and softball fields. 500 acres of open space offers the 5071 residents of Ashburn Village a more open feel, yet they are only a half hour to Washington DC and minutes from Dulles Airport which make this a great commuting location.

Ashburn Village has many grocery stores including a Harris Teeter and a large shopping complex with Home Goods and numerous restaraunts. Clyde’s is close by as well as many restaraunts in Lansdowne.

One Loudoun is also a stone’s throw away from Ashburn Village and offers some great places to eat, the Alamo Movie theatre, Trader Joes and so much more.

Overall, this is a great place to live….Call now for a list of homes available in Ashburn, Village – Sonja Adams 703-963-7407.