Hello Again

This past year has certainly been a difficult time for me and my family. Things are on the upswing now and I look forward to posting and being in touch more often as things continue to improve.

Thanks for all your patience and kind words of encouragement.

The Savvy Rrealtor

Photo of the Week?

While it's a great front door, I'm not sure this photo really does this property justice. It's a very nice 4 level, $800,000 townhouse here in Old Town.

The question is, with so many buyers looking at photo's ahead of time, how much do bad photo's really hurt the seller?

In my opinion, a savvy realtor scrutinizes every aspect of the marketing of listings, and further, for anyone interested, this really is a terrific property - and I'd be happy to show you the rest of it.

Open Sunday, Feb 17, 1-4PM

Crosspointe in Fairfax Station will be open on Sunday for those of you who'd like to have a look.

See post below for more details

Crosspointe in Fairfax Station

---------- SOLD ---------

$724,900

This beautiful brick, former model home, with 4 bedrooms, 3.5 baths, a two car garage, and granite is now on the market. This property features a huge - open kitchen / breakfast area / family room with fireplace that leads out to the deck, and a sunroom off the living room! The lower level is almost completely finished with rec room, game room, another room (currently used as sleeping quarters), and a full bath. There is an almost new (8 yr. old) cedar roof and a convertable fireplace (either gas or woodburning). The water heater is 2 years old and the main furnace/AC unit is just 3 years old. Over 4,100 square feet of finished living space awaits your personal decorator touches!

Call Richard at (703) 850-7899 to arrange a tour.

Foreclosures & Short Sales

Savvy Bargains

Below are the current listings that are either foreclosures or short sales as listed in the MRIS database. I have sorted the list into geographic areas. Remember, these are dynamic links, therefore it will be noted if the property has gotten a contract or the status changes. These links are good for 30 days.

If you'd like to see any of these properties, just let me know.

Arlington & Alexandria

Alexandria in Fairfax County

Falls Church

Springfield & Burke

McLean, Vienna, & Oakton

Note: This list includes all listings from MRIS subscribers- not just Long & Foster. All information is believed to be accurate, but should not be relied upon without verification.

Family Medical Emergency

Hello All,
I'm sorry to have been away for a while, but I've been dealing with a family emergency. I thank you for all the support and promise to get back in the swing of things and start posting again this week-end.
Again thank you for your e-mail and support,
Richard

Cows as Art? I Am Not Fixated

While searching for cow pictures for my post the other day about the herd mentality, I came across this image. It is from the Glen Wexler Studio in California and I think they are just terrific. There is more about the Secret Life of Cow's here.

But you don't have to leave DC to find interesting galleries. One of my favorites is the Aaron Gallery on Connecticut Avenue. Don't forget to check out all the cool stuff downstairs, it's like a treasure trove down there, and Annette Aaron is great. I personally like the Alderman sculptures.

PMI Still Deductible

PMI can be treated as deductible interest on your taxes for another three years, till 2010. This little proviso made it through as part of the Mortgage Forgiveness Debt Relief Act that passed into law late December '08.

My question is, who decided on three years and why? Do the powers that be expect that values will rise significantly in three years - or - is it that they plan to make it easier for purchasers to ask the lender to remove the PMI premium. The later can be quite difficult, it's a a great source of income for them.

Whatever the crazy thought process's of congress, you can still deduct those PMI payments until 2010.

Foreclosure & Short Sale Listings

Savvy bargains

Below are the current listings that are either foreclosures or short sales as listed in the MRIS database. I have sorted the list into geographic areas, sort of. Please remember these are dynamic links, therefore it will be noted if the property has gotten a contract. These links are good for 30 days. If there is interest, I can certainly do other areas or update this list again mid-January.

If you'd like to see any of these properties, just let me know.

Arlington & Alexandria

Alexandria in Fairfax County

Falls Church

Springfield & Burke

Mclean, Vienna, and Oakton

Note: This list includes all listings from MRIS subscribers- not just Long & Foster. All information is believed to be accurate, but should not be relied upon without verification.

Critical Thinking v. Herd Mentality

Who are you listening to?

Robert Ashby's recent post
Who's Advice Do You Take When Getting a Mortgage,

Let’s face it, it is easy to give a 30-year fixed rate mortgage to anyone these days because that is what the borrowers have been told is the best thing for them right now (just read the news).

But is it really? Believe it or not, the Option ARM, yes those dreaded, "evil" loan programs that place homeowners in foreclosure while making mortgage brokers rich, are actually the best solution in a "perfect world". But alas, we are not in a perfect world. As Americans, we tend to do things we shouldn’t, such as use our house as an ATM machine.

How are we to find the best mortgage program for ourselves? Friends, family, Realtors, mortgage brokers? Not likely. We are really on our own if we want to find the best solution. We must do our own research and find the "advisor" that will help us determine the best solution.

Now, be careful as you decide though. Asch’s Conformity Experiment can prove deadly in your decision making process. You see, that experiment proves that while you clearly know the correct answer, being surrounded by those answering incorrectly may lead you to answer incorrectly as well.

Do you seek out the opinions of skilled professionals who have a solid understanding of your specific situation? Option ARM's you say? Well I'd never... remember he said "in a perfect world." Critical listening & thought - it matters when you seek mortgage advice just as much as when you listen to the 11 o'clock news!

This herd mentality carries into other areas too, for example, "now's a bad time to buy" or "I'd never buy a condo". Both of these examples may be true for the 'Madding Crowd", but not everyone. As Ashe discovered, it only takes one dissenting view for critical reasoning to prevail. Everyones situation is unique, their needs, wants, & goals unique. Sadly the current thought is "don't buy, values are still plummeting" while savvy investors are grabbing this down market opportunity - the classic buy low, sell high still holds true.

Applying a critical thought processes to the mortgage & real estate market, just might lead you to an unexpected conclusion. As Ashley notes, "The best solution may be the complete opposite of what you are currently thinking."