Last week in in a post entitled “PW County Inventory-What’s Missing from our Numbers I questioned the market reports that suggested that our local market had made a positive turn with significantly lower inventory. Since most of the larger banks had put a moratorium on foreclosures last fall we could see the impact in Prince…

It never fails when you get a group of buyer’s together in Northern Virginia the talk turns to REO properties and the rumors that they have heard from their friends. From experience this year working with buyers on REO purchases I’ve encountered the following “mythconceptions.” Banks will not turn on the utilities-FALSE Very few banks…

Think about it for a second.  If you want to know who is having trouble paying their mortgage the mailman may be the person to ask.  The mailman is the one that is delivering the overdue notices and demand letters from the lenders to the house.  It seems they should be the ones we should…

This might be considered a rant by some but it could also be a serious issue for agents who are listing homes with “environmental hazards.”  Last night was a miserable night for me with a severe headache and coughing.  Today the symptoms include a runny nose and sneezing. But even worse is the fact that…

Touring foreclosure properties can bring up a lot of emotions.  Sometimes seeing what a family leaves behind can be sad and other times seeing the condition of a home can make you angry. Yesterday while showing Northern Virginia foreclosures we caught a glimpse of where thousands of dollars can go instead of toward the mortgage. …

In Virginia when you sign a listing agreement with a seller it states that the “seller retains full responsibility for the property, including all utilities, maintenance, physical security and liability until title of the property is transferred to purchaser.” Seems simple enough or is it in today’s market? When an agent goes to meet with…

When most people think of special assessments for condos they think major common area improvements.  In the Northern Virginia area condo owners often see them when it is time to repair the balconies, upgrade the amenities or redo the lobbies but in today’s real estate market we also see special assessments for another reason. Delinquencies…

Sales in Prince William County would be the answer.  Sales may be stagnant in other parts of Northern Virginia but buyers are flocking south to Prince William to take advantage of the lower prices and great bargains in the area.  Check out the total sales comparisons between 2007 and 2008 in two zip codes in Prince William…

This morning in one of those can’t sleep moments I turned on the TV and the latest infomercial on how to make a fortunate buying foreclosures was running.  It was one of the many that the unsuspecting public hears everyday.  The premise in all of them is the same.  Approach a homeowner facing foreclosure and…

On a regular basis the local press focuses on the negative aspects of the current market in Prince William County. Buyers call to ask about the area and say we have heard the Prince William County is a “bad place to live.” It is an assumption that keeps many people from making an exploration through…