I have written about the teardown business before. In one article “Is Your Home Worth More Dead Or Alive?” I suggested sellers should take time to analyze their situation and decide whether it is better to sell to a builder or sell to an owner occupant. In the other “Vienna Teardowns Part 2 – Street […]
The Truth in Lending RESPA Integrated Disclosures (TRID or TILA-RESPA) is changing the lending landscape and how settlements are conducted. In fact we will no longer have settlements but more on that later. Like most construction projects, the original launch date has been pushed back. The changes were scheduled to take effect August 1 but […]
Some businesses advertise extensively to find new customers or clients. Others depend on referrals and repeat business from past clients. I am certainly in the latter. After 25 years, I have helped hundreds and hundreds of families buy and sell homes. And now over 90% of my business is from past clients and referrals. The […]
I am reading the book Canada by one of my favorite authors, Richard Ford. Early in the novel which centers on irrational acts committed by the main character’s parents, he writes, “Common sense should have dictated none of this ever take place. But no one had access to common sense.” That is how I feel […]
From Centreville to Vienna to Arlington and points in between, homeowners have already received (Arlington) or will shortly have their new real estate tax assessment in the mail. (Fairfax County assessments will be available 2/28) I am guessing most will be higher than last year since we had an overall 3% increase in prices in 2011.
I am often asked if the assessment is reflective of market value and the answer is
I must admit, I am a bit of a stat nut. I have detailed sales and inventory data for the Northern Virginia market for the last 15 years and additional sales data going back to 1975. (Using baseball parlance, I might border on being called a seamhead) Don’t worry, it is safe to read on. My blogs will never get too deep into a statistical interpretation of the market. I will leave that to others. Under the Market Stats tab above are several good resources for those interested in viewing a stunning array of charts and graphs. Here we will just review very simple data that can help a buyer or seller in deciding what time of year may be best to act.