Archive for June, 2011

Featured Property of the Week

Wednesday, June 29th, 2011

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4017 Brian’s Lane  Suffolk, VA 23434

Home has all the amenities: hardwood floors, granite, tile, woodwork, open floor plan for entertaining, luxury size rooms,  and a gourmet kitchen with stainless steel appliances. A must see! View virtual tour at: http://www.propertypanorama.com/mls.asp?id=143314

Listed by: Barbara Kayes

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Featured Property of the Week!

Wednesday, June 22nd, 2011

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103 Tournament Court  Suffolk, VA 23434

Bright, open spacious well-maintained home on .25 acre lot in desirable neighborhood convenient to by-pass, hospital, & shopping. New hardwood floors in 2009 & new AC in 2008. Model home with numerous up-grades. Sq ft per tax records. Reasonably priced.

Listed by: June Little

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Harry’s Monthly Real Estate Insight

Monday, June 20th, 2011

Welcome to summer! It is hot and the foreclosure sales are hot also! One of the economic articles that I read monthly had an interesting point. The major holders of the foreclosure properties, such as Bank of America, is predicting a drop in value over the next twelve months of about 3% – 5%. This tells me that they must have a lot more foreclosures to sell over that same period. It is the selling price of the foreclosures that is putting downward pressure on the overall medium prices.

The real estate market will simply have to work through it’s challenges to get to a better place. It is all about price if you want to sell, we know where that price is, call us, we can help.


3 Questions a Realtor Needs to Help Buyers Answer

Monday, June 20th, 2011

Those considering a home purchase today are inundated with conflicting advice and opinions from the people they know – and even people they don’t know. That’s where your Realtor comes in. Real estate trainer and negotiation expert Steve Harney shares smart responses to the top questions that buyers have today.

“If It’s possible that prices will continue to fall, why should I buy now?”

While price is the major concern for anyone selling a home, cost should be your primary concern as a buyer. That means you have to take into account what your monthly payment will be, considering not only the price of the home but also the interest rate of your mortgage. Waiting for prices to bottom out while rates are increasing can wind up costing more over the life of the mortgage. Fannie Mae, Freddie Mac, the National Association of Realtors, PMI, and the Mortgage Bankers Association are all projecting interest rates will increase over the next several quarters. It’s best that you meet with your mortgage professional to help you determine what an interest rate increase will cost you based on the expected size of your loan. That will help you make a decision.

When will I begin to see appreciation if I buy now?”

Appreciation varies by market, so it’s important to look closely at local pricing trends. Nationally, there are indications that values will begin to rise this year. NAR projects home prices to grow slightly (0.5 percent) in 2011. Macro Markets LLC, a financial technology company, recently asked more than 100 housing industry experts to project housing prices through 2015. The results – released in the company’s 2010 Home Price Expectation Survey – show that experts think prices will start increasing in the second half of 2011, reaching a cumulative appreciation of more than 10 percent between now and 2015.

Does buying really make better sense than renting?”

Forget the finances for a minute. Why did you even begin to consider purchasing a home? The Fannie Mae National Housing Survey shows that four of the biggest reasons people buy a home have nothing at all to do with money: They want a place to raise and educate their children, a place where their family will feel safe, to have plenty of living space, and to have control over the space. What nonfinancial benefits will your family gain from owning a home? Your realtors answers to that question should be the reason you decide to purchase or not. The bottom line is that the cost of a home will probably remain relatively unchanged even if prices continue to depreciate. Don’t allow money to be the only factor in making the decision that’s right for you.

Realtor Magazine 2011


6 Fix-Ups Worth the Price

Monday, June 20th, 2011

Simple and affordable do-it-yourself projects can greatly increase a home’s resale value, according to HomeGain’s annual home improvement and staging survey. The marketing company surveyed nearly 600 real estate professionals to discover which DIY projects give sellers the biggest return for their buck. Here are six projects under $1000 (amounts are estimated) that made the list.

  • Cleaning and decluttering. Remove any personal items, unclutter countertops, organize closets and shelves, and make the home sparkling clean.

$290 Cost
$1,990 Return

  • Brightening. Clean all windows inside and out, replace old curtains, update lighting fixtures, and remove anything that blocks light from the windows.

$375 Cost
$1,550 Return

  • Smart Staging. Rearrange furniture, bring in new accessories and furnishings to enhance rooms, incorporate artwork, and play soft music in the background.

$550 Cost
$1,932 Return

  • Landscaping enhancements. Punch up the home’s curb appeal in the front and back yards by adding bark mulch, bushes, and flowers and ensuring current plants and grass are well-cared for and manicured.

$540 Cost
$1,932 Return

  • Repairing electrical or plumbing. Fix leaks under the sinks, remove any mildew stains, and ensure all plumbing is in good working condition. Update the home’s electrical with new wiring for modern appliances, fix any lights or outlets that don’t work, and replace old plug points with new safety fixtures.

$535 Cost
$1,505 Return

  • Replacing or shampooing dirty carpets. Steam-clean carpets, replace any worn carpets, and repair any floor creaks.

$647 Cost
$1,739 Return


Recipe of the Month

Monday, June 20th, 2011

Fruit Salad with Yogurt

4 cups fresh pineapple chunks
1 qt. strawberries, hulled and sliced in half
3 cups seedless green grapes

2 mangoes, peeled and sliced
2 (4oz) containers fresh raspberries

2 cups Greek yogurt
1 tablespoon dark brown sugar
1 tablespoon honey

Makes 8 servings
Total Time: 30 minutes

Toss together first 5 ingredients in a large serving bowl. Spoon yogurt into a separate serving bowl; sprinkle yogurt with sugar, and drizzle with honey. Serve fruit with yogurt mixture.

Southern Living – April 2011


Featured Property of the Week!

Wednesday, June 15th, 2011

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16295 Morgarts Beach   Smithfield, VA 23430

River front with great views of the James River. Ranch style home on 5 acres with eat-in kitchen, den with fireplace, 3 bedroom, 2.5 bath, screen porch, & deck. A great place to get away. Ask agent about easement.

View Virtual Tour at: http://www.propertypanorama.com/mls.asp?id=145584

Listed by: Lee Cross

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Featured Property of the Week!

Wednesday, June 8th, 2011

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1736 Cotton Farm Lane   Suffolk, VA 23432

Claim your slice of serenity in this gorgeous custom-built, waterfront Cape Cod. Custom features include: beautiful ambrosia maple cabinets, maple floors with intricate medallion in foyer, granite counters, marble floors, huge entertaining deck overlooking the lake, & detached unfinished workshop.

Listed by: Amanda Janney

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Featured Property of the Week!

Wednesday, June 1st, 2011

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600 W. Riverview Dr   Suffolk, VA 23434

Gardeners dream. The yard & home are in pristine condition & waiting for a buyer. Home has numerous amenities, gourmet kitchen with tiled floor, formal living & dining room, huge master suite, deck & screen porch to enjoy the landscaped yard.

Listed by: Barbara Kayes

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