Friday's child is loving and giving...

So you've done it, you made the plunge, chose a Real Estate Agent and you are putting your home on the market; you are ready to get it out there and don't want to wait another day! But maybe you should.

One thing that every Real Estate Agent knows and lives by, the longer your home is on the market, the less likely you are get your asking price. Days on Market is the holy grail of negotiating and one of the few unarguable points in determining the how close to your asking price that first golden offer is; the longer on the market, the less likely it is you will get the price you ask for.

In this era of online everything there is simply one magic day for marketing a home and getting the most bang for your electronic debut - Friday. According the Real Estate Analysts Redfin, homes listed on a Friday garnered 99.1% of their asking price in the actual sale. (Remember folks, that is an average, your individual experience will absolutely vary according to the market you are in, your home itself, the neighborhood and local trends.)

Homes for Sale in the City of Charlottesville, Virginia

Nailing the day that a home listing hits the internet is crucial according to Glenn Kelman, President and CEO of Redfin, which covers 19 markets in the U.S. "You get four times the traffic on the day of debut than any other time of the week, and you only get one chance," he says, "Soon, you're yesterday's news." Properties listed on a Friday also sell the fastest, average days on the market being only 81 days.


But what makes Friday so special? Richard Ryan, Professor of Psychology at the University of Rochester says that adults typically work a Monday through Friday workweek (adults who are NOT real estate agents, I should add) and are more upbeat and enthusiastic on a Friday. They also tend to report more energy and vitality on the weekends which could make them more proactive in actually seeing your home or making an offer.

Homes for sale in the Belmont Neighborhood of Charlottesville

So if Friday is the best day to debut, what is the worst? Sundays. Homes that debut on a Sunday end up selling, on average, for 98.4% of asking price. That could be a difference of nearly $5000 on a $500,000 home. Sunday listings have to sit around for a few days before people start lining up home tours for them and by that time, newer listings may make the Sunday debuts seem stale.

Now you can't hang your entire marketing plan for selling a home on the day of the week, but in this market of ups and downs and low inventory and competitive buyers, we certainly can take every little bump to help us that we can get. The number of factors that go into a home sale are so numerous as to be immeasurable, one of the many reasons you need a Real Estate Agent to help you navigate it and get the best price and best net proceeds for your home.

As always, if you are looking to Sell a Home in Charlottesville, Buy a home in Charlottesville or want to Invest in Real Estate, email me or give me a call, I would love to be the agent that helps makes it the absolute best experience for you possible.


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

Click here for the complete article from the WSJ

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 
• 
  
  

So you've closed on your home, are you done now? NO

You've searched and searched, previewed homes until your eyes have bled and finally (as your Realtor cheered and jumped up and down) found the home of your dreams, made an offer, made it through contract negotiations, home inspections and closing. You're done and ready to move in, right? Well, maybe. There are some things you still need to do to keep that home your "dream home."

Prepare for anything you want done before you move in

Rarely does a buyer get into a new home that is truly, completely, ready to go. As you have looked at the home and toured through it you have come up with a myriad of ideas about how to live in it. Where you will out the sofa, which rooms the kids will have, what color are you going to paint that room that has a shade of lavender rarely seen outside of an Easter egg. Which rug will cover that stain in the otherwise immaculate hardwood floors... 

If you want to get things done to your new home, the best time to do them is before you move in. Once you have removed your contingencies, the sellers have moved out and you are close to closing, get the contractors in the house that you are going to need to do work on the home to make it yours. Have the painter take a look and give an estimate, get that floor refinisher in to see the stain and tell you if he can fix it and how much it will cost, how long it will take. Your Realtor can be a great resource for small job contractors who can help you get all the minor repairs that weren't worth negotiating over but that you still want done. Work on a home is faster, cheaper and less headache if it can be done while the home is vacant. Nothing takes the fun out of moving into a home faster than sharing the space for the week with Joe the Plumber...

Click here to see Homes for Sale in Belmont, Charlottesville

Set up the utilities

We are so used to flipping a switch and the lights coming on that we forget that we really do have to get the utilities put into our name. Find out which companies serve your new community and call them in advance to be sure everything can move into your name seamlessly so that the first morning in your new home will be one that has hot water and hot coffee. Especially check for any cable or internet service. These vary widely based on where you live and nothing makes the teenagers whine more than not being able to Facebook, blog and play xbox live for the two weeks it takes to get the cable installed and working. 

For the original article, click here. 

You have your new keys! WONDERFUL! Now change the locks. 

It's just better to assume that everyone and their brother has a set of those keys that are now in your hand. The listing agent likely made them available to a score of contractors, their assistant and God only knows how many copies the last owner handed out to family members and neighbors to be sure that they never got locked out. 

Be ready to hire a cleaning crew before you put one stick of furniture in

Most of the time, sellers have had the place cleaned after they moved out, but just in case, it might not be a bad idea to have a cleaning crew ready to do a thorough once over. Showing up on moving day with a car full of hungry family, boxes and hundred of pounds of furnishings only to find that every bug for miles around has decided to use your kitchen floor as their place to die can take the thrill out of that new home in ten seconds flat. Even if the seller did clean, for all you know they paid their fifteen year old nephew $40 to do it and their perspective of what "clean" is can be starkly different from your own. This is a small and inexpensive item that is better not left to chance and more easily done before you fill up the rooms. 

Click here to see What your Charlottesville home is Worth

Have a handyman or a small contractor on call

Moving in can take days or weeks depending on your particular tastes and personality and once the house has closed, it's all yours. Every square foot of joy and each and every scratch, dent or hole in the wall from dropping that family heirloom armoire made from leftover 1941 tank panels. Having a handy man identified who is ready to go can make your life simpler. If you have them identified already and know that they can do the touch ups or fix those small yes annoying items that are not apparent until after you try to move in. 

Taking just a little time to plan ahead can save you a ton of headache, remove huge amounts of stress from being prepared and make your overall experience a much, much more enjoyable one!

Click here to see all homes for sale in the City of Charlottesville

Quinton Beckham

Keller Williams Realty

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 

This Month in Real Estate

The Latest News in Real Estate -

Click the Links below for:

Belmont Homes for Sale

All Homes for Sale in the City of Charlottesville, Virginia

Quinton Beckham

Keller Williams Realty

434.242.6212

www.select-homes-charlottesville.com

Paul Goodloe McIntire's Belmont Park Legacy

His name and contributions surround us, but few outside of Charlottesville Historians know just how much of an impact that Paul Goodloe McIntire had on the shape of the city. Born in 1860 in the City of Charlottesville, McIntire attended the University of Virginia for only one semester before leaving in 1880 for Chicago "...to earn some money." He worked first as a coffee salesman (Barista's of the city should puff out their chest at that!) and later as a stockbroker. He then moved to New York City where he bought a seat on the New York Stock Exchange and between the years of 1901 and 1921 amassed a fortune. Never forgetting his home town he used his wealth to beautify the city, purchasing land to become parks and adding sculptures for all of Charlottesville's residents to enjoy.

Just some of his notable gifts include the Statues located in Lee and Jackson parks - parks placed on land that he purchased and donated to the city for this purpose. One of his donations that any traveler or resident will recognize is the statue of Meriweather Lewis, George Rogers Clark and Sacajawea that stands at the intersection of Ridge and McIntire Roads at the primary traffic gateway to the Downtown Pedestrian Mall. Another statue of Lewis and Clark stands at the intersection of Jefferson Park Avenue and West Main Street; a gift he made to the University of Virginia.

In addition to Lee and Jackson Park, McIntire also gifted the land that has become Washington, McIntire and Belmont parks. Homeowners in Belmont note Belmont Park to be one of the finest parks in the City of Charlottesville.

The 3.1 acres of Belmont Park is bounded Stonehenge Avenue, Rialto Street and Druid Avenue. The park contains a full basketball court, benches, swing set, playground equipment, large Oak Trees for Shade and a courtyard with shelter for outdoor concerts. When driving by Belmont Park, Residents and visitors alike have their attention drawn to the latest addition, the "spray ground" that allows children to enjoy an afternoon playing in the various water spouts while staying cool. The spray ground is operated by touchpad, recycles the water it uses and is open from 9am to 8pm during summer months.

From UVA dropout, to coffee salesman to philanthropist, McIntire's is a story that could easily be repeated today and Belmont Homeowners enjoy the legacy of his generosity to this day.

For more information on Charlottesville City parks and trails, CLICK HERE

For more information on Paul Goodloe McIntire, CLICK HERE

If you are looking to -
Buy a home in Belmont or the City of Charlottesville
Sell your Charlottesville Home
Or have other questions about Real Estate
Please click the links above or contact me directly

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

Will 20% Soon be the New Minimum Down Payment?

Several government agencies are reviewing data to determine what will be the minimum down payment required under the new Qualified Residential Mortgage (QRM) guidelines scheduled to be revealed in the next few months. In the original Mortgage Market Note issued by the FHFA, it was suggested that loan-to-value (the percentage of the overall purchase price that was being borrowed) was a major factor in determining if a loan would default:

"For most origination years, requirements for borrower credit score and loan-to-value ratio are the factors that most reduce the ever-90-day delinquency rate of mortgages acquired by the Enterprises that would have met the proposed QRM standards"

The note then went on to make the following proposal:

"An LTV ratio qualified residential mortgage must meet a minimum LTV ratio that varies according to the purpose for which the mortgage was originated. For home purchase mortgages, rate and term refinances, and cash-out refinances, the LTV ratios are 80, 75 and 70 percent"



For the complete article, click here: http://www.kcmblog.com/2013/01/23/will-20-soon-be-the-minimum-down-payment-on-a-home/



Basically, the note suggested that a 20% down payment should be the new guideline for Qualified Residential Mortgages. Now, no one can know for sure what the final requirements will be. Bloomberg reported last week:

"The six regulators drafting the separate QRM rule, including the Department of Housing and Urban Development, The Office of the Comptroller of the Currency and Securities and Exchange Commission, must decide whether to include such a requirement - and whether to make it less than the 20% they originally proposed."

What could these new regulations mean for the average home buyer? Certainly there is a growing portion of the Charlottesville Area Home Buying population for whom a requirement of 20% down payment could, unintentionally, lock them out of homeownership as a whole. More and more of those who are approaching Real Estate Agents to buy a home are those who are renting. As rents have climbed dramatically over the last few years, this has seriously impacted the average Charlottesvillian's ability to set aside money month after month in pursuit of that often elusive down payment. Their first and best method to take advantage of the currently reasonable home prices and excellent mortgage rates is to seek out a Mortgage program that allows them to own a home for only 3-5% down.

Should the new QRM guidelines require a 20% down payment on what would be a very large percentage of mortgages, we could see a slowing of the Real Estate market as a large portion of potential buyers are trapped in rentals that are costing a larger portion of their monthly incomes.
For now, this has not happened and we can hope that the regulators will keep in mind that much of America can not put away a 20% down without the tax advantages of homeownership.

What does this mean to someone seeking to Buy a Charlottesville Home? Don't wait until the market changes, home prices go up or mortgage rates rise. Meet with a qualified Real Estate agent and get a check on your finances, credit scores, housing needs and determine if you can get out of the rent trap.

What could this mean to someone seeking to Sell their Charlottesville Home were it to go through? Certainly, nearly every offer has some request for the seller to cover a portion of the closing costs, generally 1-3%. Expect to see those become necessary in order to get cash strapped buyers through the mortgage process and qualified for a loan. For those wanting to upgrade their homes or needing to sell property at all, the market continues to have many opportunities to attract buyers and a mortgage structure that is attractive to a larger percentage of home seekers than ever before - waiting too long to put your home on the market could see those buyers dry up and create a market that has fewers buyers, who are more sought after.

If you are wanting to:

Find out if you can Own a Home in Charlottesville
Buy a Home in Charlottesville
Sell your Charlottesville Home

Please contact me, I want to help!

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