So you want to have your own business? Start with a job.

I have spent much of my adult life looking at those who owned their own business and feeling a tinge of jealousy at what I perceived as their independence, their wealth and just the general freedom that seemed to emanate from them in their day to day lives. I have grown up a lot since I had those first musing dreams of success and I know now that my starry eyed idol-worship of them skipped a lot of steps along the path as I compared my life as an employee to theirs as a business owner.

Every Real Estate Agent I know entered the profession because they wanted some combination of the financial success, the freedom and the ability to be "on their own." Indeed, what finally motivated me to move from a relatively successful career in healthcare to Real Estate was the desire to work only for myself. Thankfully, a lot of what I learned as I ran non-profits in different parts of the country prepared me a little for this transition. Though you may or may not agree with me or have shared similar experiences, here are some notes from what I have learned.

1. You don't start out with a business, you start out being "self-employed." 

The only real difference in the beginning between working for someone else and working for yourself is that you now have a boss who doesn't pay you a penny. No one, and I mean NO ONE starts out with a business. We only start out with jobs. We have to build websites. We have to choose how to market ourselves. We have to learn about SEO and websites and blogs. We have to learn how to write contracts and what to say and not to say to potential clients. THIS. IS. A. JOB.

It's work! It's difficult and it is sometimes tedious. You have to get through the job part before you can get to having a business.

2. No matter what your background is, you have to do research. 

When you are a new agent you have to figure out what sort of agent you want to be. I think this has a lot to do with the Brokerage you choose. We all have different desires and approaches and personality types. Try to figure out what you really want. If I only want to be self-employed, then I need a brokerage that sets me up with leads, that markets themselves and passes the leads along and I take them through houses to set them up to buy. If I want to be a business owner, then I need a brokerage that teaches me how to do that, that provides the tools but allows me to run it myself. Brokerages can not be all things to all agents - we have to choose. They come in different flavors and sizes and costs and some provide business cards and signs and others let you build your own. But in the end, it's about whether you want to be your own business owner or you want to be self-employed. They are very different things. The brokerages that cater to those types are different too. They are not better or worse, they are just different. 

3. You are going to need some support. 

No matter where you get it - home, other agents, church, friends - someone needs to be your cheerleader. When we work for someone else, we punch a clock and we get a paycheck. There is a definitive payoff for everything we do. When you are your own boss, that payoff is a lot less concrete and does not come in regular intervals. When you have had a regular old job for a long time, you need encouragement while your psyche adjusts to not having that instant gratification of earning a certain amount every day. It's a little scary. Having those people who give you an emotional boost is extremely important. 

4. You absolutely must have concrete goals. 

It's not enough to just say, "I don't want to work for someone else." Which, incidentally, was the first sentence I uttered when I decided to be an agent. It wasn't until I made a budget, measured out what it would take for me to live where I wanted to live, what was the cost, how much did I need to sell every month, how would that affect my life and how much volume in sales would that take - it wasn't until I made something that led to a concrete goal that I could measure myself against that I became my own boss. I now had something to look at to say to myself, "Your evaluation this month sucks. You need to get to work and get leads and make those leads clients." We have to have a real direction or we flail around and get nowhere or even worse, get distracted by every new little promise of leads and clients and soon have lost total focus. Pick something and WORK AT IT. 

5. You have to have an open mind. 

I was pretty sure I knew how to run my business. I have been CEO of companies that provided healthcare to millions of people with multi-million dollar budgets. Of course I could run my business. 

Wrong. 

This was totally different. Some of the precepts are the same. But all of the sudden there were no signposts. I no longer had a secretary or an IT department. No one was there to pick up the slack in the areas  I didn't know about. I had to have an open mind to all of the other agents around me. Listen to them, learn from them and show up to trainings in my Brokerage, even if the topic felt boring or I thought I knew it. I needed to learn and develop new habits. 

So how am I doing so far? 

I am sure I still have more to learn. It's been about eight months since I started being an agent full time. I joined Keller Williams because I didn't want to be a brokerage's agent, I wanted to be my own agent. I wanted to build my own business and I wanted to have my own plans. As I reviewed brokerages I could see that although it is not perfect, KW wasn't going to tell me what kind of agent to be, it was going to give me a ton of educational resources and let me pick and choose. 

I also joined KW because I really identified with their mission statement, their commitment to community and their desire to help others. Like I said, I have spent twenty years in non-profits whose goals were to help others, to make a difference. I like that there is a part of KW that is all about that. 

Two notes on that: I want to make money; money means I have options. I wouldn't want to join any brokerage that did not have some kind of focus on helping me succeed in making money. Without money, there can be no charity. And two, please do not read this and think I am suggesting that KW is the only brokerage that has community and charity as a focus - I know many other agents in different brokerages who are charitable and have a sense of community. This was just the path that worked for me. 

And how much money am I making? I won't give you a dollar amount, I think that smacks of hubris a little and I am sure that for many of you what I am making would seem like a pittance compared to your sales numbers. What I will say is that I am meeting the goals I set. In two weeks I move into the place I want to live in. I am on track to have all of my 2013 expenses covered by August 31, which is my summer season goal. I am pretty proud of that. Your goals may not be that simple, but hey, I am new at this! 

Do you want to ask me more questions? Feel free. I am happy to offer what little bit I know. 

Do you have tips for me to think about? PLEASE go ahead and add them, I am certain I have more to learn and that there many many people who have a lot to teach. 

But if you are thinking of being an agent or are new to being an agent, my advice; settle in, set some goals, make a plan, get to to work and pay attention to the agents around you. You can totally have your own business, but you have to build it. 

Search Belmont Neighborhood Homes for Sale 

Luxury Homes for Sale in Central Virginia

Quinton Beckham
Keller Williams Realty
1885 Seminole Trail, Suite 100
Charlottesville, VA 22901
434.242.6212

www.select-homes-charlottesville.com 

Believe it or not, it's a good time to sell

In case you haven't noticed, Winter is winding it's way to a close and Spring is just around the corner. And as plants get ready to end their restless slumber and spring forward into the air, home buyers are stirring too. Spurred on by forecasted changes in mortgages rates and pending changes in FHA rules and costs, home buyers are seeking to get a home before the prices have fully recovered and while mortgage rates remain at their historic lows.

What they are finding is this: There aren't a lot of homes on the market.

While new home sales are starting to pick up again, builders remain cautious and many homeowners are still underwater on their mortgages making selling their home something that they are not optimistic about. The nation now has a 4.2 month supply of homes on the market; meaning that if sales continued at their current rate, we would be out of homes in 4.2 months.

Nationwide, nearly 28% of homeowners owe more than their home is worth, according to data from market watcher Zillow. And if you look at homeowners who don't have at least 20% in equity, that number climbs to 45%. So what does this mean for you?

Click here to see Homes for Sale in Charlottesville

For buyers

If you have been thinking that now is the time to get the best mortgage rates and better pricing per square foot on a home of your own, you are right. The market made a lot of gains last year but homes can still be found that are a great deal and the low mortgage rates mean that you can afford more home for your monthly payment. Some buyers who wouldn't have even been able to qualify for a mortgage of $250,000 because of interest rates making their monthly debt too high five years ago are finding that they CAN qualify because the payments are actually less than what many of them are paying for rent. It's still a great time to buy, but if you see that home that meets 90% of your needs, you better jump on it, there just aren't a lot homes out there and finding that "perfect" home in the price range you can afford isn't likely to happen. 

For Sellers

If you have some equity or just have a real reason to move, then you shouldn't wait. You are much more likely to get close to your asking price now than if you wait until the market picks up in Spring and Summer and the competition grows. Although many buyers are aware of the lack of inventory, they are not wanting to wait and maybe miss a chance to make a great buy at a low interest rate. Listing now can make you one of the few homes available that many buyers are in competition for. Add that to the fact that the REO or distressed home market (those in short sales or foreclosures) is drying up, and you have an opportunity to snag that smart buyer who knows today's market conditions won't last. 

Click here to see what your Charlottesville Home is Worth

For the complete article in USA TODAY, click here

Call me for more information on making the market work for you,

Quinton Beckham
Keller Williams Realty
434.242.6212
www.select-homes-charlottesville.com

Keller Williams now Largest Real Estate Franchise in the United States

Keller Williams Realty Now #1 Real Estate Company in the United States by Agent Count
Company also announces franchise expansion into Germany, Austria, Switzerland, and Turkey

DALLAS, TEXAS (February 17, 2013) — Keller Williams Realty, Inc. announced today that it is the largest real estate franchise company by agent count in the United States, with approximately 80,000 associates. In recent years, Keller Williams Realty has posted record growth numbers, surpassing RE/MAX, Century 21, and now Coldwell Banker to secure the industry’s top position. The news, based on publically available information as of February 6, 2013, was announced in front of more than 10,000 Keller Williams associates during the company’s annual convention in Dallas, Texas.
During his standing-room-only, annual State of the Company address, CEO Mark Willis made the announcement, stating, “Keller Williams associates: We are one family. We have one destiny. We share one thing ... We are America’s #1 real estate company by agent count!”
Willis also reported strong productivity gains by Keller Williams associates in 2012. Year over year, per-agent units increased 23 percent, closed volume was up 31 percent, and gross commission income rose 28 percent. Moreover, a record 91 percent of the company’s offices were profitable for the year. The company also announced its final profit share total for the year, which added up to more than $55 million in profits distributed to Keller Williams associates – an increase of 44 percent over the previous year.
Keller Williams Realty President Mary Tennant updated attendees on the company’s charitable 501(c)(3) entity, KW Cares, which in 2012 awarded $2.7 million in grants to associates and their families in need.
And finally, Keller Williams Worldwide President Chris Heller announced plans to expand into two new regions: (1) Germany, Austria, and Switzerland; and (2) Turkey. The company previously

announced global franchise agreements in Vietnam, Indonesia, and Southern Africa. Heller also extended a big welcome to more than 70 international guests who were visiting from 18 countries.
“One of the keys to Keller Williams Realty’s phenomenal success has been our ability to grow organically – from agent to agent, from market center to market center, from country to country – earning our reputation one person at a time,” Heller said.
Willis’ presentation was followed by a 30th anniversary party. The No. 1 announcement and celebration capped a remarkable year for the Austin, TX-based company:

• -  J.D. Power and Associates ranked Keller Williams “Highest in Customer Satisfaction” among both home buyers and home sellers.*
  
• - Keller Williams was ranked No. 9 on America’s Top 150 Workplaces – the only national real estate company on the list.
  
• - And in April, Keller Williams co-founder and bestselling author Gary Keller will publish his latest book, The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results.
  Willis thanked associates and implored them to “Never back down” from their new position as the largest real estate company in the United States: “Let’s celebrate tonight, but watch out, competition. Tomorrow we’re going to be working harder than we’ve ever worked before. The real prize we’re pursuing is to be #1 in agent count and transactions and volume all across the world!”
  
  *Disclaimer: Keller Williams received the highest numerical score among full service real estate firms for home buyers and home sellers in the proprietary J.D. Power and Associates 2012 Home Buyer/Seller StudySM. Study based on 2,994 total evaluations measuring five firms and measures opinions of individuals who bought or sold a home between March 2011 and April 2012. Proprietary study results are based on experiences and perceptions of consumers surveyed March-May 2012. Your experiences may vary. Visit jdpower.com 
• 
  
• Looking to buy a Charlottesville Home? 
• Sell your Charlottesville Home? 
• Invest in Real Estate? 
• 
  
• Call me and let me bring the strength of the Country's largest Real Estate Firm to meeting your needs!
• 
  
• Quinton Beckham
• Keller Williams Realty
• 434.242.6212
• www.select-homes-charlottesville.com 
• 
  
  

Belmont Duplex is Latest Contemporary Offering from Metzger Design in Belmont

Anyone who has spent time in Belmont knows that it is a neighborhood that is on the move. Over the last decade it has seen the growth of some amazing restaurants in its central core and even had the area dubbed “Downtown Belmont.” The largest named neighborhood in the City limits, Belmont (or Belmont-Carlton, as it is often called) it has seen some dramatic changes in its housing and overall appeal.

Easily seen in the neighborhood is the prevalence of urban infill projects – taking those lots that are empty, underdeveloped or just in need of rehabilitation and using them for housing that is affordable and efficient. Residential housing in the Belmont neighborhood has a wide range of pricing – from as low as $150,000 for a single family home to as high as $500,000.

One such builder is architect Jared Metzger, managing partner of Metzger Design; a full service firm that provides the complete A to Z of development, architectural design, construction, project management and graphic design. A graduate of UVA, Jared has been a licensed Class A contractor for over eight years and a practicing architect for over 12 years. After spending some time with firms in Washington, D.C. and Charlottesville, he struck out on his own to establish Metzger Design.

“I always have enjoyed building things and actually got my undergraduate degree in fine arts, specializing in wood and metal sculpting,” Jared says, “ I wanted to find a practical application to sculpture and found architecture to be a great profession. In fact, I think architecture pushes my imagination even further, because its not only about form, but ultimately about function.”

Metzger design has done residential projects in the Belmont Neighborhood, with the second now offered for sale on Midland Street. “Belmont is in a great location; convenient to the downtown mall. The cultural and restaurant scene continues to expand with many of Charlottesville’s newest gathering spots in Belmont and continuing to expand eastward.” The Midland Street Homes offer 1470 finished square feet of living space containing three bedrooms, two and half baths. Metzger’s favorite part of the Midland Street homes,? It’s the eye-catching living area on the first floor that flows seamlessly from the kitchen. The high placed windows allow for natural light while preserving privacy and, in combination with the vaulted ceiling leading up the stairs to the second floor, give an incredible sense of space.

“As an architect, I was interested in getting into home construction to show homebuyers smart and efficient design was not out of reach. Such a huge percentage of homes built in today’s market are homogeneous and lack an identity; they do not relate to their environment or the uniqueness of the place they are built,” Jared points out.  Unlike other neighborhoods in Charlottesville, Belmont’s residents seem to be appreciative of the uniqueness of the homes there. In a fifteen-minute walk, one can see everything from historic architecture to contemporary home designs that capitalize on the views of Carter’s Mountain and the Rivanna River running adjacent to the neighborhood.

“Charlottesville has become a wonderful place to experiment with home design,” says Metzger, “buyers have become much more sophisticated and have learned to expect more. I think a lot of that is because of the variety of design firms that are active in the market. Metzger Design is committed to offering contemporary homes that are affordable to the average family.” With an asking price of $229,900, the Midland Street properties are a testament to that truth – the average mortgage on new homes in Charlottesville (the amount financed after any down payment) in 2012 was $247,537 according to Housing Intelligence. 

To see the latest Metzger Properties for sale, click the links below

1500 Midland Street

1502 Midland Street

For more information on Metzger Design go to: 

www.metzgerdesign.net

Click here for all homes for sale in Belmont.

Quinton Beckham

Keller Williams Realty

www.select-homes-charlottesville.com 

Mortgage Lingo got you feeling lost? Here's some help

I can well remember when I first started in college back in... well, let's not say how long ago that was, it was more than a little while... when I first started learning all the terms I would have to know to be in healthcare and not look like an idiot it felt like I was having to learn a second language. And in some ways, I was. It took years to sling those words and phrases and initials around like a pro. I am still of the belief that those words and abbreviations exist in healthcare so that your doctor can talk about you, right in front of you, without you knowing what he is saying.

Frequently, sitting across from a loan officer feels exactly the same way. They throw around words and abbreviations and phrases like they are talking about breakfast cereal and we smile and nod, afraid they will think we are not financially savvy and then walk away not really sure what the heck it was they said. This can make the pre-approval process a frightening thing, as though we are being asked to lay out the most private details of our life so that someone can judge us. It can be a very daunting process to go through, especially if it is your first time or you aren't sure that you will qualify. So, to give you a chance to speak the language like a pro and, more importantly, really understand what they are talking about - I give you the Glossary of Mortgage Terms!

For the complete glossary from The Mortgage Professor, click here. 

Some of my personal favorites:

JUMBO MORTGAGE
Though at first glance you might think that this is a mortgage that comes with large fries and bucket of coca-cola, it is, in fact, not. Jumbo mortgages are those mortgages whose total amount are higher than what Fannie Mae or Freddie Mac are allowed to purchase. Though there are some exceptions to these rules, generally these are homes that need to be purchased with conventional loans.

MAXIMUM LOCK
Though this sounds like some action-adventure movie, it is, in fact, a very important thing for potential home buyers to know. When purchasing a home you and the lender "lock-in" the interest rate according to the prevailing rate at the time the home goes under contract. As everyone who has purchased a home recently knows, your expected date to close and the actual you close can be extremely different. The maximum lock is the longest period of time that a lender is willing to "lock in" that particular interest rate for you. Good stuff to know as a purchaser.

NOHO
No, this is not the next up and coming neighborhood in Manhattan. This is Lender speak for someone who does not have the finances currently to become a Homeowner. Mainly, they are living paycheck to paycheck and therefore are too great a risk. I have to admit, I have been a NOHO at certain points in my life. If you think you are a NOHO, contact me so that I can set you up with people can help you to get out of that rut and into better credit, financial health and out of NOHO status.

PAYMENT SHOCK
This is one of my personal favorites. I tend to have payment shock every time I half-fill my small hand carried basket at Whole Foods and then get to the register and see that my small stock of specialty items has reached a triple digit price tag. But in mortgage speak, Payment Shock is generally referring to sudden increases in ARM payments that surprise homeowners when whatever index the ARM is tied to climbs dramatically in a short period of time. Though not something many people have been afraid of lately, this is still something that can occur when interest only mortgages finally convert to including principal.

SWING LOAN
No, this is not some tawdry loan hanging out in hot tubs and seeking to flirt with properties that already have a mortgage of their own. Rather this is loan that banks sometimes offer to help homeowners who are seeking to switch homes but need the proceeds from the sale of their current loan to close on their new home who are needing to close on the new home and their current home hasn't closed yet. Also referred to as "bridge-loans" as they bridge the gap between the two closing dates.

I hope that this may have shed some light on "Mortgage Speak" for you and even, perhaps, generated a chuckle or two.

If you are looking to Purchase a Home in the Greater Charlottesville Area, Sell a Home in the Greater Charlottesville Area or Invest in Real Estate - I would very much like to be the agent that helps you in this endeavor. Please check out my website www.select-homes-charlottesville.com or click on the embedded links for more information and resources for sellers and buyers.

Quinton Beckham
Keller Williams Realty
434.242.6212
www.select-homes-charlottesville.com
www.buyorsellhomescharlottesville.com 

'Homer" Sells Home to "Moe"

On the lighter side of Real Estate news, the Los Angeles Times reports that Dan Castellaneta who does the voice for Homer Simpson on "The Simpsons" sold his home to Hank Azaria, who voices Simpsons' bartender Moe.


His Pacific Palisades home sold for $5.5 million, following a $200,000 price reduction prior to Azaria purchasing it. There was no mention of whether or not there was free beer or the settling of old bar tabs as a part of the sale.

For the full article, click here: http://marquee.blogs.cnn.com/2011/09/22/simpsons-real-estate-deal-homer-sells-home-to-moe/?iref=allsearch

Castellaneta and his wife Deb Lacusta - a television writer herself - have lived in the 4,414 square foot, 4 bedroom, 3 1/2 bathroom home for five years.

I doubt very much that this will have any impact on anyone who is looking to Buy a Home in Charlottesville or Sell a Home in Charlottesville. However, having been a fan of the Simpsons going back many years, I could not help myself and had to include this in my blog somewhere.

Should you wish to sell or buy in the Greater Charlottesville Area, please feel free to contact me for assistance. I promise, I will not try to mimic any voice from the Simpsons...

CLICK HERE to see homes for sale in the Rugby Neighborhood of Charlottesville.

Quinton Beckham
Keller Williams Realty
434.242.6212
www.select-homes-charlottesville.com 

Harvard Report on Belief in Homeownership by Age Group

And it looks something like this....

Looking to.... 

Buy a home in Charlottesville? 

Sell a Home in Charlottesville? 

Click on the links above to get more information from my website or call me.

Quinton Beckham

Keller Williams Realty

434.242.6212

www.buyorsellhomescharlottesville.com 

www.select-homes-charlottesvile.com 

Mortgage Rates Dip Near All Time Lows

According to the associated press, the average rate on 30-year fixed mortgages inched down toward its record low this week, helping to keep home buying affordable. 

Mortgage buyer Freddie Mac Says the rate on the 30-year loan dipped to 3.38% from 3.40% last week. This is slightly above the 3.31% rate reached in November, the lowest on recrods dating back to 1971. The average on the 15-year fixed mortgage remained unchanged at 2.66%. The record low being 2.63% In all of 2012, the average for a 30-year fixed mortgage was 3.66%, the lowest annual average in 65 years, according to Freddie Mac. 

Cheaper mortgages are a key reason the housing market began to come back last year and continued low rates promise continued recovery in the housing market for 2013. With these rates in mind, moving away from renting and into homeownership remains the best choice for consumers. 

If you are looking to buy a home in Charlottesville, Sell a home in Charlottesville or invest in real estate, contact me and let me help you make it happen! 

Quinton Beckham

Keller Williams Realty 

434.242.6212

www.buyorsellhomescharlottesville.com 

www.select-homes-charlottesville.com 

Digital Home Buying - Google and NAR's Study

As more and more americans access internet on the go, on the job and sometimes, even while driving - the number of homes buyers that start and end their home search online is increasing.

A study performed collaboratively between Google and the National Association of Realtors shows that, "Nine in 10 home buyers today rely on the internet as one of their primary research sources, and 52 percent turn to the web as their first step."

Certainly no shock to any family that has teen aged children in it, the digital revolution is over and the internet has one. You find it in phones and offices and planes and cars - just seems to make sense that it would make its way into the home market.


Other interesting facts noted in the study:

Top 5 new home buyer activities on mobile devices: 

1. 51% - Read general home information
2. 48% - Get directions in order to visit a home
3. 44% - Compare prices
4. 35% - Compare Features
5. 35% - Search a listing company's inventory

Places where new home buyers use their mobile devices

77% - At home
31% - At work
28% - While waiting in line
27% - At a restaurant
26% - At someone else's home

Days of research before new home shoppers take action on a website

40% - 120 days
17% - 60 days
7% - 30 days
4% - 3 weeks
3% - 2 weeks
5% - 1 week
24% - Same day

Percent of age groups who registered to buy or sell a home on a website

8% of 18-24 year olds
31% of 25-24 year olds
21% of 35-44 year olds
19% of 45-54 year olds
14% of 55-64 year olds

Percentage, by category, who used the internet to search for a home

First time buyers - 47%
Senior Buyers - 75%
Vacation Home Buyers - 93%

Yes, the internet is here to stay and it is slowly taking over the way we search for where we want to live and what we are going to buy when we get there. Speaking of, why not take a gander at one of my websites...

www.buyorsellhomescharlottesville.com
www.select-homes-charlottesville.com 

Quinton Beckham
Keller Williams Realty
434.242.6212

US Home prices surge - Nine straight months of gains

For nine straight months home prices have been in the positive and the gains are only getting larger. November shows a 7.4% jump from a year ago, according to CoreLogic. Most had predicted prices gains at a modest five percent for 2012 but the market is outpacing those expectations.

"As we close out 2012 the pending index suggests prices will remain strong," wrote Mark Fleming, Chief Economist for CoreLogic, in a release, "Given that the recently released Qualified Mortgage rules issued by the Consumer Financial Protection Bureau are not expected to significantly restrict credit availability relative to today, the gains made in 2012 will likely be sustained into 2013."

This is certainly reflected in the Charlottesville Real Estate Market where gains and numbers of sales have continued to show gains. Just six States showed drops in pricing, and Virginia wasn't one of them.

For the full article go to: http://oxstones.com/us-home-prices-surge-despite-distress/

If you are looking to Buy a Home in Charlottesville, rising prices and continued low mortgage rates should be cues that waiting around for things to get better is not the way to go. Investors are still out there looking to take up properties that can be part of the still lucrative rentals market, so there is competition for an inventory that is not going to get bigger in the near future. Though more homeowners are Selling their Charlottesville Home, there are still a lot of competitive buyers out there looking to get the best homes at the best prices while this confluence of events continues.

If you are renting, go see a Local Real Estate Agent and see what you can do to get into a home now while the prices are still low and the mortgage rates are so very inexpensive!

And, as always, if you are looking to Buy a Home in Charlottesville, Sell a Home in Charlottesville or Invest in Real Estate Property, contact me for a meeting on first steps to move you forward!
I am here to help!






Quinton Beckham
Keller Williams Realty
434.242.6212
www.buyorsellhomescharlottesville.com

CAAR Releases Year End Report for 2012

CAAR has published their report on the state of the Charlottesville Real Estate Market.
If you are Buying or Selling a home in the Charlottesville area, you should take a look!

The brief notes are as follows:

Prices are starting to climb. 
The median sale price was $260,000 for the fourth quarter of 2012, the highest fourth quarter showing since 2008.

Sales Volume is increasing. 
The fourth quarter of 2012 saw over 600 sales, nearly a full hundred transactions over the same quarter last year.

Overall, 2012 topped 2011 with an added 343 sales. Of note, Fluvanna had a 26.6% increase in sales, closely followed by Charlottesville with a 25.3% increase in sales.

Inventory remains low. 
As buyer confidence and access to credit increases, it is outpacing the number of home owners who have enough equity to make it profitable to list their home. Those sellers are out there, just not in as great a number as they were prior to the market collapsing.

So what does all this mean? 
If you are a buyer, the good news is that you can get credit and the home market is recovering - so the good investment of homeownership remains a great choice. However, you are not going to have your choice of homes out there that have similar appearance and amenities in a variety of neighborhoods. It's important that every home buyer be sure of what is truly important and necessary in their home and not get distracted by things that are not real "deal-breakers" as they search for their new home.

If you are a current homeowner and have some equity - the day to sale will continue to contract as more buyers enter the market and competition for your home will pick up. It also means that if you are looking to use that equity to upgrade - or even just get out of a home that you do not really like to get one you do - you need to start that process before the inventory drops low enough that you don't have a choice to go to.

For Complete Report go to: http://caar.com/files/market/01_2012/2012%20Year%20End%20CAAR%20Market%20Report.pdf

For assistance with Charlottesville Real Estate, Buying a Charlottesville Home or Selling your Charlottesville Home, call me and lets talk about your particular needs and wants and make a plan for what is best for you. One thing is certain, once mortgage rates begin to climb, you won't see them this low again for a long, long time. Those rates make this market a real bargain for those wanting a home or wanting to upgrade the home they live in.

Quinton Beckham
Keller Williams Realty
434.252.6212
www.buyorsellhomescharlottesville.com

Real Estate Avoids the Fiscal Cliff

For all of you who were nervous about buying a home in Charlottesville or selling your home in Charlottesville because you were waiting to see just how far down it was to the bottom of the fiscal cliff, there is good new. Stephen Fishman, a tax expert, attorney and  author of multiple books on tax law has summarized the impact of the new bill that takes us back from the “fiscal cliff.” 

First and most importantly, the mortgage debt forgiveness act that was due to expire in December of 2012 is carried through to the end of the year. This ensures that anyone who is seeking principal mortgage debt forgiveness or needs to make a short sale, has the first $2 million of debt forgiven excluded from taxable income. 

Next in line of positives, and this is a big one if you are seeking to Buy a Home In Charlottesville, this bill resurrects the tax deduction Mortgage Insurance Premiums. This deduction had expired in 2011 but the new law extends it retroactively for 2012 and all the way through 2013. This is a huge bonus for new home buyers wanting to escape the rent trap and own a home and gain the other tax benefits as it makes using first time buyers programs that allow for less than 20% down be more affordable in the short term. 

In addition to various extensions to MID deductions, the $500 deduction for energy saving improvements remains intact through 2013, encouraging all improvements for those of you who want to be more Green in your home energy use. Need a new Dishwasher to make your home marketable? Save the receipt, its tax deductible up to $500 provided its certified Green! 

For the Full article, see Inman News at www.inman.com

If you are looking to: 

Buy a Charlottesville Home

Sell your Charlottesville Home

Get a Market Analysis of what your home is worth

Please contact me: 

Quinton Beckham

Keller Williams Realty 

434.242.6212

www.buyorsellhomescharlottesville.com  

What were the five biggest stories of 2012 and how do they effect Charlottesville Real Estate?

According the KCM blog, they are as follows:

Housing was a tailwind to the economy and not a headwind

That's right, housing helped the economy to pick up and did not drag it down. Despite claims by many experts that homes for sale  would not pick up until the overall economy picked up, housing has lead the economy and has been the only bright spot in an otherwise lethargic economy.

The Fed Remained Committed to Historically Low Mortgage Rates

If I haven't said it before, I should say it now, you will not find a better rate to purchase homes in Charlottesville! At the end of 2011 30 year mortgage rates were at 3.95% and everyone thought that there was only one way for these rates to go; up. But the Feds supported policies that kept rates down and this resulted in rates dropping to 3.4% by year's end. Truly, if you are looking to sell your Charlottesville Home, you have more potential buyers this year than you did last year, because they could afford the rates. If you are looking to buy a Charlottesville Home, you can get a lot more home for your house payment.  

Demand Remained Strong throughout the Year

Home sales numbers continued to increase throughout the year, supporting the belief that we believe in homeownership as a way to prosperity and an achievement of the American Dream. Even the last existing homes sales report of the year from the National Association of Realtors revealed that home sales were up 5.9% from the previous month and a whopping 14.5% form the same time last year. 

Inventory began Shrinking

Housing inventory dropped to its lowest level (4.8 months) since September of 2005, a 22.5% decrease compared to the same time last year. Why? Because more and more of the short sales and foreclosures are getting cleared from the market than are being added and more families are staying caught up on their mortgage payments. 

Prices first Stabilized and then Increased 

The biggest real estate story of 2012 is that Home Values as a whole turned the corner and headed upward. By the end of the year home values were up 10.1% compared to the end of 2011. Looking ot get that "stellar deal" on a Charlottesville Home for Sale? Better hurry up! 

And what should all of this makes us expect? 

Demand for Housing Will continue to Surge

The market has turned and all signs point towards buyer demand continuing to increase through 2013. Household formations have shot up to boom-time levels in 2012 and are projected to increase at an even faster rate in 2013. This could have an effect in prices as you seek to buy a home in Charlottesville and the supply is shrinking. 

Generations X and Y are proving their belief in Homeownership

Contrary to what many have hypothesized over the last few years, young adults (ages 18-35) are just as committed to homeownership as previous generations have been. Recent Studies have shown: 

- 43% already own a home

- 72% see homeownership as part of their personal American Dream

- 93% of those currently renting plan to buy a home

Move up Sellers will Return in Great Numbers

Over the last few years negative equity has prevented many from upgrading their homes to something more sizable or in a better location. However, as prices recover and the mortgage rates show no signs of skyrocketing, more and more families may realize that now is the time to pursue that bigger or better home. 

So if you are living in the Charlottesville Area, relocating or otherwise just wondering if you should continue to pay that rent that you are paying, now truly is the time to investigate becoming a homeowner and achieving all of the tax breaks and security that it provides instead of paying for someone else to own a home. 

For complete articles, go to: www.kcmblog.com

If you want to learn more about Charlottesville Homes for Sale, Buying a Home in Charlottesville or Selling a Charlottesville Home, please contact me, I am here to help! 

Quinton Beckham

Keller Williams Realty 

434.242.6212

www.buyorsellhomescharlottesville.com 

Cold weather is here, is your home ready?

I know that it is trite to talk about preparing your Charlottesville Home for winter, but it truly is important. Whether you are just someone who wants to stay warm, need to save money on your winter heating bills or want to decrease your carbon footprint, taking some steps to treat your home for winter can result in a lot of savings and happier times for the winter months. 

Additionally, if you are wanting to sell your Charlottesville Home over the next few months, nothing can turn off a prospective buyer than walking in and it being so cold that they can see their breath, or passing a window with a draft that chills their bones, and their enthusiasm.

1. CLEAN OUT YOUR GUTTERS

It takes a little time for all of the leaves to finally fall and, though you may have done your duty during the fall months, you might be surprised to see how much debris has built up in your gutters and drains in the first few cold months. A ladder (a someone to spot you), a simple spatula and a few hours can make a lot of difference to your home weathering the cold months successfully. Clogged drain spouts and full gutters allow the winter water and ice to build up. This can result in ice dams that actually damage your gutters and roof, letting cool air in and costing a lot more money when the thaws come.

2. FIND THE DRAFTS AND BLOCK THEM

Every house has leaks and they are usually exactly where you expect them. The simplest method to find leaks is to be sure the HVAC is off, light a stick of incense and then walk through your home, pausing at doors that lead outside, windows and anything that goes inside of your ceiling, like canned lighting and anything that penetrates your walls, light electrical sockets. A simple step ladder can help you reach those places and locate the leaks. Breezy days are good for this task as it will make seeing the drafts easier. The average american home has leaks that amount to a NINE SQUARE FOOT HOLE, according to EarthWorks Group. Plugging these holes can be accomplished with door sweeps (yes, as seen on TV) insulation tape around sockets or gaskets around the rims of canned lighting.



3. ADD INSULATION

Everyone knows this, but hey, insulation is in the attic and we don't look up there. Besides, it makes you itchy to deal with it. Nevertheless, the quickest way to get money back on winterizing is by adding insulation. Don't stress over R-Values or measuring tape or making this hard. Look in your attic and if you can see the joists, then you need more insulation.Buy plain, rolled insulation without backing and roll it out. You don't want to use the papered backing when you are layering insulation on top of the original insulation as the paper serves as a paper barrier and adding another vapor barrier can cause moisture issues. Don't worry about too much - so long as you are not blocking any of the attic insulation, you are good to go. One big advantage of adding insulation, it helps all year round!

4. CHECK THE DUCTS

While you are crawling around in your attic or your basement or crawl space, check the ducts if you have central heating. The U.S. Department of Energy estimates that 60% of the heat your Central HVAC unit generates is lost because of poorly insulated or leaking ductwork. You can repair places where ductwork is pinched and use a metal backed tape to seal off any leaks you find in the ductwork. Surprisingly, duct tape is not recommended as it does not last over time and if you take the time to do this, you really do want it to last.

5. FACE YOUR WINDOWS

Windows lose heat. Its as simple as that. If you did our walk through from earlier you may have added weather stripping as a simple quick fix to drafty windows, but that won't change the amount of cold or heat that radiates out from your windows. This is not a simple weekend do-it-yourselfer fix in the way many of our other tips are, but if you find the worst windows you can budget to put up storm windows as an extra layer of protection and replace older single pane windows with ones that are double paned. Not a cheap fix but totally worth in terms of saving heating/cooling costs and a great boon when it comes time to Sell Your Home. One other tip is to have heavier curtains that you can draw over your windows at night. This added insulation helps to reduce heat loss in the coldest hours.

6. REVERSE YOUR CEILING FANS

Often overlooked and only thought of in summer months, your ceiling fans can help to distribute the heat more evenly through your house, increasing your comfort and reducing your bills. Heat rises and reversing your ceiling fans and setting them on their lowest setting helps to move that heat back down into the room where the people are. Not sure what "reverse" is on a ceiling fan? When you look up at the fan it should be turning clockwise for winter, counter clockwise for summer.

For a more complete list, please go to the full article at http://realestate.msn.com/article.aspx?cp-documentid=13107899


If your home is older and you are feeling overwhelmed by its winter needs, just call me and we will find a new home and you can move. Not terribly practical perhaps, but certainly an option.

If you are wanting to Sell your Charlottesville home, Buy a Charlottesville Home or just have questions about the market and financing, you can check out my website or call me for an appointment.

Quinton Beckham
Keller Williams Realty

434.242.6212
www.buyorsellhomescharlottesville.com