Real Estate "How-to" Links from Sellsius

Here's a great bunch of "how-to" Real Estate and techology links compiled by Sellsius (a Real Estate information and blogging community), for buyers, sellers, agents, anyone!

Weekly Real Estate News

Be sure to see sample National Real Estate News feeds at my website....note also today's Washington Post Article on the significant (!) slump this Summer in regional housing sales, and growing inventory. Paired with comments this week from the Fed on probable interest rate hikes coming back, there's right now a limited window of opportunity for buyers to (1) get a great deal and negotiate from an unprecedented supply of homes, and (2) do it before Mortgage rates rise.

Northern Virginia Community Information

Here's an up to date listing of Northern Virginia Community Information, including Government Services, Education, Employment, Family & Living, Schools and Education, and lots of other great links to help plan your purchase or move. Brought to you by Avery-Hess and Ingrid Myers, Realtor.

Northern Virginia Community Information

Short-lived opportunity for Buyers?

Although the Bears out there will find plenty to suggest a long Winter ahead for Home Sellers, with a lot of news swirling around regarding the "bursting housing bubble", this buyers-market opportunity (specifically in the Metropolitan Washington D.C. area) may only be a short-term correction, and short-lived at that, according to a local economist....so now's the time to buy!

- Ingrid Myers - trusted, experienced Realtor with over 20 years Northern Virginia local Real Estate market knowledge and insight.

RISMEDIA, August 11, 2006—With a few notable exceptions, homes sold in the Greater Washington, D.C. Metro Region show a slight price decline for the first time in over a decade. Economist John McClain, of George Mason University, says the July 2006 housing numbers released today by Metropolitan Regional Information Systems, Inc. (MRIS) may signify a window of opportunity for buyers, but it could be short-lived.

McClain says the fact that the Fed has stopped raising interest rates, combined with the perception that this is a buyers' market could revive flat sales in a matter of months.

"According to OFHEO records (Office of Federal Enterprise Oversight) going back as far as 1977, the longest period of time that our region experienced a flat market was from 1990-1997, but there was not much job growth during that period," said McClain. "Only two years within that timeframe -'94 and '95-showed a decline in the average selling price.

The rest of the time it was flat-no large declines."

McClain points out that, unlike 1990-1997, the Greater DC Region's current economy is extremely healthy, with 77,000 new jobs opening up in the region within the past 12 months. "The indication is that this is simply a correction," said McClain, "prices rose too far too fast over the past four years and now it's leveling out."

Areas in which homes have traditionally sold at more affordable prices, like Greater Baltimore, Prince Georges and Frederick Counties, in Maryland, and Fauquier and Warren Counties, in Virginia, still show housing prices on the rise.

Average Selling Prices for July 2006:

* Washington, DC: $530,170, down 2.31% from July 2005
* Prince George's County, MD: $338,585, up 7.15% from July 2005
* Frederick County, MD: $369,503, up 6.27% from July 2005
* Montgomery County, MD: $547,991, down 0.75% from July 2005
* Alexandria, VA: $484,552, down 6.22% from July 2005
* Fairfax County, VA: $548,087, down 2.58% from July 2005
* Loudoun, VA: $533,825, down 2.96% from July 2005
* Fauquier County, VA: $618,062, up 26.79 % from July 2005
* Warren, VA: $321,362, up 18.32% from July 2005

Military Personnel Real Estate

Veterans, contractors and other government-affiliated personnel returning from the Middle East and other overseas assignments face difficult decisions regarding real estate. Rent or buy? Remodel or not? The cyclical, transient and sometimes unanticipated nature of life associated with military or foreign diplomacy activities makes it very difficult to plan and schedule major changes to your home investment strategies. Keep some things in mind, as you plan a major home change, in the midst of a likely re-stationing or deployment:

1 - It's a very much a buyer's market, here in Virginia, and with inventories up and prices falling for the past quarter, don't be afraid to commit now to buying - you'll be able to negotiate a reasonable deal, probably get some sweeteners thrown in, you'll have a great selection as others wait for more price reductions, and you'll lock in a still-decent mortgage rate before the increase start again.

2 - Conduct research on the Internet - as soon as you understand a change is imminent, get on the Internet and establish a relationship with a local realtor. There's many tools available, like Zillow.com, but you'll need someone on the ground in the U.S. to interpret results (Caution! Zillow's automated evaluations are generally inflated, unrealistic and not necessarily up-to-date in our fast-changing area, lumping newer and older home valuations together), to update you on very local news and conditions, send you local planning and construction information (like details on the upcoming transition of personnel, and therefore traffic, to Fort Belvoir!) manage necessary service providers, help survey or prep the house for your inspection or move-in, and truly act as your agent to facilitate the process.

3 - Maintain your online privacy - though you may be affiliated with security-conscious organizations, your activities and habits surfing the Internet overseas may be much more transparent, unsecure and altogether un-private than here at home. Don't sign up for emails, forums or newsletters from a source you haven't investigated, don't provide personal information to anyone (except perhaps your trusted Real Estate Agent), don't relay your move plans outside your trust network. This is another great reason to use a local Real Estate Agent who knows and understands this environment, these issues, and your particular military-related circumstances.

- Ingrid Myers - trusted, experienced Realtor for Military families and associates.