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Perspective Impacts Local Real Estate

I went out of town over July 4th to enjoy the beach in Lewes, Delaware with the family, and accidentally observed the local real estate market and the way agents work there. Having been an agent in Northern Virginia for 19 years and seen behind the advertising/image personas (the curtain) of many real estate agents, I thought about how easily home shoppers can believe that one agent must know the local real estate market better than any other.

It was finally obvious to me since I was assuming (like most people) that those folks with the ads in those glossy magazines must be the experienced ones since they were advertising those nice properties.

But, since this wasn’t my first time in Lewes, I knew that Nick or Jack had tried to sell the place (we rented) for three years and that Skip had not yet sold the other house we had rented last year. In fact, there were signs in front of a number of homes that had been there for a couple of years. Jeepers, was I the only one noticing that this market was totally different than mine?

This got me thinking about my area where I live and the perception home buyers coming to work with me  looking at real estate in Vienna, VA must come with. From the looks of it based on MRIS statistics, there really isn’t any one agent who stands-out commanding 5% of the market here but there are some agents who work with local builders who get there signs up longer than 90 days because, on average, the typical real estate sign is up far less time than 90 days in 2010. (That’s because our homes sell.)

So I arrived in Lewes applying the same Northern Virginia perspective, but, after a few days of R&R, the true picture of their local real estate market surfaced. What I am driving at is that I learned something about how I need to educate my buyer clients who are relocating from California, Florida or New York so they have a clear perspective of my our real estate market. And a key part for me is understanding what they see back home… for me to understand their perspective!

Real Estate in Northern Virginia is in high demand because there are well paying jobs here with businesses that are expanding or moving here from other parts of the country. Yes, Washington DC is 12 minutes away, Dulles International Airport is a major international airport, and Virginia is a pro-business state. Plus there are exceptional hospitals, a big tourist industry and more. These are key factors that power our local Northern Virginia real estate market.

So, to understand any real estate market, it is essential the home buyers get a clear perspective of what impacts local real estate values. Let’s since down and talk about your plans, goals and perceptions of Northern Virginia real estate.

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In Real Estate, Online Photos are Essential

You would think that Northern Virginia real estate agents would get it by now, but I am still seeing some really bad house photos being posted online. It is a trend that a lot of agents across the country poke fun at, and even have blogs of the worst photos seen in their MLS.

Anyone who is looking for a home to buy is starting out on the Internet while sitting at home or at work (yes, we know). Doing online research like moving to Vienna, Virginia is done easily from a living room in San Diego, California. So it seems obvious to me to get house photos right from the get-go and put as many photos of the highest quality into the MLS or a linking site like Google’s Picassa or Flickr.

The MLS site is the obvious place to start because it feeds consumer real estate sites like Trulia, Redfin and Zillow. Yup, those photos taken by me are disseminated by the almighty MRIS which is Northern Virginia’s MLS. So 30 photos definitely get popped in here for fast syndication.

The McLean and Vienna VA real estate markets are highly competitive so having quality, staged photos should be 50% of your home’s marketing strategy. (this is obvious to home buyers)

Here are my tips for better real estate photography:

• If you are unsatisfied with your photos, then hire a professional
• Use a digital camera with a wide angle lens built into the camera
• I update my camera on a regular basis, read more at my FAQs page
• Take plenty of shots (50-100) and then pick and choose on your computer
• Do not use a fish-eye lens because the photos just look too weird
• STAGE your photos by turning on lights, hiding garbage cans etc.
• If the sun isn’t out, then come back later for another cover shot
• Keep in mind that the buyer who is boarding a plane to house-hunt will only have time to see five homes in McLean, and will pick one to buy.
• Don’t be afraid to change the photos… if there was snow on the ground the first time and it is now May, take some new photos then upload them!

Having clear photos is an absolute must, #1 priority for me when I list a property. Why? Because  home buyers wanting to see Mclean or Vienna homes for sale have their iPhone or Droid real estate apps running all the time showing photos, photos and more photos.

Having poor quality real estate photos is a real no, no!

Leave a comment about any bad photos you have seen recently.

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Fairfax County Real Estate Tax Rate 2010-2011

Fairfax County, Virginia has announced the new property tax rate for the 2010-2011 fiscal year.

Real Estate:

It shall be $1.09 per every $100 of assessed value.

In Fairfax County, VA, home owners pay their real estate taxes twice a year,  July 28th and on December 5th.

If you have questions about your assessment, how to pay your bill, or wonder how the county determines value then check the Fairfax County Tax Web Site.

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Vienna, VA Home Sales Stats | Hyper Local March 2010

March came roaring in like a lion in the real estate market as buyers literally surged in once the snow melted and the sun started to shine making our world green again, so next month’s numbers will be impressive.

The driving part of the surge was buyers at the lower end buying homes that allowed people to move up to larger homes in these zip codes. The $8,000 first time buyer credit pushed the move-up buyer who could get a credit up to $6,500 when they entered into a contract by April 30th and settle by the end of June.

But please know that this information is reported from MRIS which is not guaranteed to be 100% accurate but should be considered pretty darn close.

Keep in mind, mortgage rates were still super low (around 5%).

Home sales numbers for 22182 in March 2010:

Spring did arrive early in March this year!.

Home sale numbers for the Town of Vienna, 22180, March 2010

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