How Do I Price My Home?

Pricing your home right is a critical aspect of selling. No one wants to undervalue their home, but overpricing it can be just as costly. You could miss out on buyers who are ready to make an offer, resulting in longer days on market and potentially needing to do multiple price drops before finding a buyer. Price drops are often necessary in the real estate world, but too many can make you appear desperate to sell, which impacts your leverage during contract negotiations. This article does a great job of explaining this in greater detail, and how to watch out for realtors who over promise on price just to secure your business, only to reduce the sale price down the road, impacting YOUR bottom line. Want an honest and thorough assessment of your home's value? I'm happy to talk with you anytime!

Home Improvement - Where To Start?

Here’s What I Did In My House… 

Our backyard when I purchased the house. Old bricks
and rotting wood were under all those leaves!

When I bought my house in 2008 it needed a fair amount of work. It was a foreclosure and the bank had done the minimal amount of work needed to sell the house. The basement was completely gutted from flooding, the bathrooms and kitchen were all original to the house (and UGLY), and the backyard had a 9 foot petrified rose bush (no joke), among other problems.

My first priority was finishing the basement and updating the master bath. The basement was an obvious place to start and the master bath was a more affordable (and just as necessary) update than the kitchen. I was able to secure a 203k loan that gave me the cash I needed to get these projects completed within the first 6 weeks of home ownership. These projects alone significantly increased the value of my home and also allowed me to get cash flow out of my house because I was able to rent out the upstairs rooms and live in my basement. If you are comfortable with doing that and are looking for a

MARKET MONDAY - FED Raising Rates?

The New York Times gives their take on the impending raising of interest rates by the Fed  The next meeting ends on Dec 16th (Less than a month away!) and a rate increase is expected. If it's not announced then, its almost sure to come in January or March. Don't hesitate to call me to discuss your home buying goals!

Why Winter Is A Great Time to Buy

Winter 2014 outside our house with my older daughter

It was the Wednesday before Thanksgiving 2008 when I called Sarah (my girlfriend at the time, now wife) to see if she could leave work early to meet me and my realtor at a property that just had a significant price drop.  I had been house searching for months with little success.  Although we weren’t engaged yet, I was hoping to pop the question soon so I really wanted Sarah’s opinion if I was going to move forward with this home.

We toured the home, a foreclosure, and although it needed some work we knew we could manage it and the price was right. I made an offer that night which was ratified over the holiday weekend.  I settled in late December and started 2009 off in my new home!  Granted
I bought at the bottom of the market which was great for me, but it has turned out to be a great home AND a great investment.

You don’t need the market to crash to take advantage of a great housing market.  There are aspects of the Winter Market that I was able to take advantage of and YOU can too! Veterans United has a great infographic. Essentially, they point out the following:   

• Sellers Are Motivated to SELL   People that sell in the Winter often do so out of necessity. 

Selling During the Holidays - Good or Bad Idea?

Have you been thinking that waiting until life settles down after the holidays is the right time to sell your home? Maybe not. In fact, I actually bought my home two days before Thanksgiving after searching for the better part of a year.

Home Sale Happenings - November 2015

Current homes for sale, coming soon, under contract, and just SOLD for Steve McIlvaine Home Sales. Take a look at what we have on the market in Fredericksbug, Alexandria and Arlington!