Well, real estate appraisers are probably great drivers but if they insist on driving the way they run their business, watch out. It is very hard to move forward safely and confidently when looking in the rear view mirror. Over the last year, I have had more appraisal issues then the last 5 combined. Why? […]
I often get calls from folks who want to buy distressed homes, rehab them and sell them for huge profits. Looks easy on TV doesn’t it? The reality is that flipping homes is a very, very hard business and extremely difficult to keep profitable over the the long haul. (key – long haul) I […]
Last month I had two settlements delayed. On both I was representing the seller and both were delayed due to appraisal issues. The appraisal issues were outside the control of the lenders but how they were handled demonstrates why I prefer local, direct lenders. Here are the stories…
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 […]
Kelly was an upperclassman at George Mason University in Fairfax VA. She was tired of dorm life and wanted to live off campus. Her parents suggested to her that she buy a home near campus and rent a few rooms to other students to help cover her mortgage. Under that plan, her housing costs would […]
Second verse (quarter) same as the first. Inventory is the story and becoming a bigger concern. We now have 10 months in a row where inventory for the current month was at least 10% lower than a year earlier. But in this quarter, for each of the 3 months, the inventory levels were […]
Recently I was on a listing appointment and was the 2nd of two agents being interviewed. Toward the end of our meeting, I asked the sellers to compare and contrast the presentations. One of the key differences was that the other agent spent considerable time touting the power and size of their company. I do […]
Well, not really. Anybody familiar with the Town of Vienna knows that the last place to speed would be our streets. I think there are more radar guns per capita in Vienna than any other local jurisdiction. There may not be much crime here but there sure are plenty of traffic tickets. I probably should […]
Inventory , Inventory. Inventory. March 2012 was the 15th month in a row where the month over month inventory numbers were less than the prior year. And it was the 7th month in a row with a deficiency greater than 10%. Many of my buyers are either not finding the type of home they want […]
On this bright Saturday morning, hundreds of young kids will be gathering at Yeonas Field in Vienna to kick off the start of another Little League season. Some are being introduced to the national pasttime for the first time and others are 12 year old “veterans” playing their last year and hoping to represent Vienna […]
