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.