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Home Selling in Williamsburg : Real Estate Advice

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  • Local Info17
  • Home Buying37
  • Home Selling9
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Activity 20
Sun Jun 11, 2017
Kerry.dennard asked:
We bought our first (and only) home in 2003. It was our primary residence for three years but as a military family we had to leave it. We've been renting it out, intending to move…
0 votes 0 Answers Share Flag
Fri Mar 18, 2016
Harmon.b asked:
It was listed realtor contract expires soon I need other options
0 votes 0 Answers Share Flag
Wed Feb 3, 2016
MCM_STL answered:
A short sale will often hurt your credit - and your credit history matters whether you want to buy or rent.

If you can afford to, your best bet is to move before you try to sell your current house because that way any credit impact form the short sale - or foreclosure - hits your credit history.

Just because you want to do a short sale doesn't mean your lender will. If you try to go that route, there's always a chance your lender won't accept whatever offer you do get and your home will end up in foreclosure anyway.
... more
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Sun Jan 18, 2015
Benni.gholami answered:
It has to also depend on the market status at that point in time. If the prices are on the low, hence your property for sale will not be affected even if you impose a low commission. Therefore, it is essential for you to carefully study the market trend and see how the stability status is before deriving with a decision. It definitely requires a lot of research and understanding as the property market needs expertise and proper procedures. ... more
0 votes 659 answers Share Flag
Fri Jan 17, 2014
AmyWeb answered:
Unfortunately, there is virtually no resale market for timeshare anymore. The market has collapsed and the stark truth is that most timeshares are worthless. Ebay is full of timeshare weeks unsold for only $1. The sellers would of course be quite happy to sell for even less just to rid themselves of timeshare ... more
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Mon May 20, 2013
Lban2 answered:
No, it is illegal. I know pepole who got locked up for taking cash at the table. That practice is gone with the wind fabulous!
0 votes 14 answers Share Flag
Tue Mar 12, 2013
Edith Karoline Jasser answered:
Hi Michelle, I am wondering if this post should not go into the blog section of Trulia for other Realtors to see, as this is the question and answer section for the buying and selling public .....
Good Luck to you

Sincerely yours,
Edith YourRealtor4Life & Chicago, North Shore & Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and
Investors alike....And always with a SMILE :)

Covering for @Properties Chicago & suburbs, and with her trusted Partner
Agents US & world wide properties. French, German, some Spanish &more EdithSellsHomes@atproperties.com or EdithSellsHomes@gmail.com
Check out my website at http://tinyurl.com/YourRealtor4Life
Get to know me! Learn about my experience, expertise, services! Read letters
of recommendation! Sign up to search for properties in my expanded service area.
HAVE THE MOST WONDERFUL DAY :)
... more
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Mon Jan 9, 2012
Mike Grogan answered:
How price reductions influence buyers is not nearly as important as a related issue. That issue is pricing the home properly at the beginning of the listing. It is a well documented fact that homes that have 0 price reductions sell for 96% of their asking price while homes with one or more price reductions only sell for 85% of the asking price. This info complements of Broker Metrics. Although this sounds backwards it simply means that the sellers who price their homes properly at the beginning of the listing in Williamsburg, sell for 11% more than those that "test the market" and overprice their home with the mindset that they can always lower the price later.

Don't believe me? Give me a call or email me and I will be happy to share my research with you.

www.mikegroganrealty.com
... more
0 votes 19 answers Share Flag
Sat Aug 6, 2011
Scott Godzyk answered:
Some agents are born to be listing agents and others are born to be buyers agents, not many can work bith sides and be great at it. Listing agents require patience and alot of knowledge of teh area they want to list in. Referrals are the best source of new listings, do a good job and everyone will know. ... more
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Thu May 13, 2010
Pacita Dimacali answered:
If you're a family member or somehow related to a property owner who is selling his property as a short sale, you can't buy it.

Here's a good post about this http://homebuying.about.com/od/shortsale/f/arms-length-affidavit.htm

It says:

What Does an Arms-Length Affidavit Contain?
Most banks create their own arms-length affidavits. Therefore, the language can vary from one affidavit to another. Following are the points contained in a basic arms-length affidavit:


•The arms-length affidavit references the property address, name of the sellers, buyers and agents, and the fact this is an arms-length transaction.

•No party to the short sale contract is a family member, business associate or a person who shares a business interest with the seller.

•There are no hidden terms nor special agreements among the buyers, sellers and / or agents.

•Once the transaction closes, the sellers will not rent back the home nor regain title to it.

•None of the parties will receive any compensation except for the commission paid to the agents.

Hope this helps
... more
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Sat Jan 23, 2010
Jamie Van Bergen answered:
Frank, I appreciate your correction... this was info provided by an individual company that works exclusively with short sales and foreclosures and is based upon statistics that show a bank generally gets 20 cents/dollar more (on average) with a short sale. Your advice and experience is much appreciated and exemplifies just how varied and complicated the process can be. The somewhat good news, however, is that the process should become more manageable as each player involved becomes more adept and educated at handling this ever-growing segment of the market... from the banks, to the lenders, to the agents involved. ... more
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Sun Aug 16, 2009
Tim Parker & Cyril Petrop answered:
It all depends on your financial situation and goals. You should consult with your CPA or tax advisor and understand the impact of each of the scenarios.
With this said, although I believe the market is slowly getting back to "normal", I do not believe that you are going to see a big rise in prices over the next year or so. Interest rates are possibly going to go up and some of the incentive are going to go away ($8000.00 tax credit on December 1st) which in turn will reduce the number of buyers.
Furthermore, houses are still selling in the area and as long as the property shows well and is priced correctly, there is no reason why it should not sell pretty close to the list price.

Feel free to contact me directly at (757) 879-8811 or cyril@cnprealty.com if you need more specific information on your property.

Sincerely,
... more
0 votes 8 answers Share Flag
Wed Jul 8, 2009
Laurie Covington answered:
If you read the newpaper, you will probably see that many agents consider themselves "top-producers". I have seen many new agents who are just as good as agents who have been selling real estate for a long time and are considered "top producers". They also may have more time to focus on you. I suggest you meet and interview a few Realtors to choose one to work with. Another option is to go to Open Houses in areas you like and meet the Realtors who are at the open houses. There may be an agent who specializes in certain neighborhoods who will be the best at finding a home for you. If you are a first time buyer, there are agents who specialize in this. I suggest you determine what your housing needs are (price, location, etc.) and then choose an agent who works in either your area or your price range. Also, friends who have recently purchased a home are a great resouce to find names of good agents. Good luck. ... more
0 votes 8 answers Share Flag
Wed Jun 24, 2009
Wayne C Melton answered:
Most MLS systems also have an open house calender that is quicker, and cheaper than mailing flyers. eFlyers and emails to the agent base would probably be more cost effective that these other methods that you are describing. Instead of a selected, few agents, call the top producers that are selling in the same area with a personal invitation; email all the rest. One of the emails may go to an eventual top producer or have an immediate buyer for you so that you can put it under contract immediately and make an open house unnecessary. ... more
0 votes 11 answers Share Flag
Mon Jun 22, 2009
Jim Mellen answered:
You might think about a 1031 exchange. You still have to sell and buy in the traditional way but you have some tax advantages available. You should speak with your tax accountant or attorney to see if you benefit . I would think a trade might be a little more difficult but you never know! ... more
0 votes 1 answer Share Flag
Tue Jun 9, 2009
Barbara Q. answered:
Ouch! When deals fall through...it hurts the Seller.
Prices may have declined during the past 2 months.
Interest rates have definitely jumped up recently ...

Ultra low interest rates:
Fuel the market
Enhance affordability
Improve market psychology

Discuss your options with your Realtor.
Rather than a price reduction...
You may want to consider offering BELOW MARKET interest Rates...3.5%.(Temporary Buydown)
You do Not hold the mortgage.
You pay a fee to discount the Buyer's interest rate/payment at the closing.
The cost is minimal for the Seller in comparison to the savings for the Buyer.

Buydownn Calculator: http://www.321advantage.com/sellers-calculate-your-rate
... more
1 vote 10 answers Share Flag
Wed Oct 29, 2008
answered:
Keith,

What does a guy in Burbank, CA know about Williamsburg, VA real estate? I'm surprised by your comments. You have NO knowledge of our market. Gail has exceptional professional representation. There are 21 comparable properties in Kingsmill alone, and only 4 have sold in the last 3 months. The property in question was significantly overpriced when originally listed a year ago. Of course, who could predict that the market would tank the way it has.

The home is now well priced, and it should be one of the next to sell. LIke most of the sellers in today's market, Gail is very nervous.

As the current listing agent of this property, I can assure you that this homeowner is very well represented!

Susan
... more
1 vote 4 answers Share Flag
Wed Oct 29, 2008
Jim Mellen answered:
Duplicate question in the list, however I answered this. See the above response!
0 votes 1 answer Share Flag
Thu Jan 3, 2008
answered:
Contact your title company, they will have all this information for free.
If you dont have a title company find one online, there are many of them and they all can help you.

Good Luck. ... more
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