Archive for April, 2012

Harry’s Monthly Real Estate Insight

Thursday, April 26th, 2012

The spring always brings hope that our market will begin to move quicker. It has helped. Let’s look at some numbers. Over the last four months, in the City of Suffolk 314 homes sold. Currently there are 798 homes listed. This indicates that about 10% of the listings are selling each month. Not a stellar amount. We would like to see about 40% selling. Actually, I personally would like to see 100% selling, but that has not happened since I first got into the business in 1973 when we had six houses to sell and they all sold in thirty days. That’s not going to happen for a while. What this continues to tell us is that a seller has to understand the market numbers for sales, listings, absorption rate and cost of money to analyze where their “selling zone” really is. I can tell you it is in the bottom 12-18% of your competition in almost all cases. Take a look at the attached chart from REIN MLS for more info. Remember, Lee and Harry Cross can sell your house!

One point that needs to be noted in this market is that homes are selling very close to their list price. Why? Because the homes that are selling are in the bottom of the price range for their competition or in their possible “selling zone”. These home prices have been “pre-negotiated” to be very competitive and to attract possible buyers. The best strategy is to price it well to be part of the possible absorption rate.

Graph-April 2012


Featured Property of the Week

Wednesday, April 25th, 2012

new pics 001

49 AC Carolina Rd  Suffolk, VA 23438

Beautiful Farmette located close to the Suffolk/NC line. All wooded several acres of which has been cleared in the past and would be easy to do again. Priced to sell. $112,600 below assessment.

Listed by: Marion Grigg


Featured Property of the Week

Wednesday, April 18th, 2012

new pics 122 3008 Driver Station Way   Suffolk, VA 23435

Wonderful location. Downstairs master & a great layout make this home a must see. Move today and enjoy your family friendly neighborhood, large fenced-in backyard, & an easy drive to all of Hampton Roads. Not a short sale, just a great price!

Listed by: Lee Cross

new pics 061 new pics 056 new pics 100 new pics 111


New YMCA Camp Arrowhead

Tuesday, April 17th, 2012

The YMCA’s New Summer Day Camp on Kenyon Road offers a safe and exciting outdoor summer adventure on 55 acres of fields and forests.

This first-class facility includes:
Alpine Tower, Amphitheater, Archery Range, Challenge Course, Hiking Trails, Outdoor Pool, Soccer Fields, Softball Fields, and much more. Come Join The Fun!

See Flyer Below or Click the Link for Contact & Registration Information:

YMCA Camp Arrowhead

Camp Arrowhead


Recipe of the Month

Monday, April 16th, 2012
Tarragon Chicken Salad Recipe

Tarragon Chicken Salad

  • 1 tablespoon butter
  • 3/4 cup chopped pecans
  • 1 cup mayonnaise
  • 3 tablespoons chopped fresh tarragon
  • 1 teaspoon lemon zest
  • 1 tablespoon fresh lemon juice
  • 4 cups chopped cooked chicken breasts
  • 1 1/2 cups diced Granny Smith apples
  • 1 cup diced celery
  • 1/4 cup finely chopped red onion
Preparation
  1. Melt butter in a small skillet over medium-low heat. Add pecans, and cook, stirring constantly, 6 to 8 minutes or until toasted and fragrant.
  2. Whisk together mayonnaise and next 3 ingredients in a large bowl; stir in chicken and next 3 ingredients just until blended. Add salt and freshly ground pepper to taste. Cover and chill 2 to 24 hours; stir in 1/2 cup toasted pecans just before serving. Sprinkle with remaining pecans.

Southern Living Magazine-March 2012


What To Look For When Doing A Personal Inspection Of A Home

Monday, April 16th, 2012

When you buy a home you will likely hire a professional to do an inspection but as you are narrowing down your choices you can do your own informal inspection, weeding out houses that have obvious issues. Here are a few tips on what to look for:

As you near the point of making an offer on your target property, you’ll want to include the following in your personal inspection of the property:

– Check the foundation for cracks.
– Does the house show any obvious water damage?
– Examine ceilings, window areas and walls.
– Check for damaged plaster and wallpaper.
– Do you detect dampness or mold?
– Examine the attic for water leaks and structural integrity.
– Check electrical, heating and plumbing.
– Test the air conditioner and thermostat.
– Look at the major appliances included in the sale.
– Check for building quality and drafts.
– Does water drain away from the house, or toward?
– Are trees to near the foundation?
– Check additional structures, such as a garage or shed.

Covering your bases prior to making your initial offer, will help you make a solid decision as you move through the process. Further, if you make your offer contingent upon inspections, you’ll have time to hire a professional to ensure that the home you are buying is in the condition that you are willing to pay for it.

Realtor.com


Eight Factors That Could Reduce Your Homeowners Insurance

Monday, April 16th, 2012

Homeowners insurance is a necessary expense but there are some ways you may be able to reduce your costs. Below is a helpful list of eight factors that could help you save money. You’ll have to consult with your insurance broker for specific details but these tips should give you some areas to consider:

  • New Home: You may be eligible for a discount based on the age of your home.
  • Companion Policy: Some insurers give discounts to customers who hold multiple policies with their company.
  • Protective Device: A fire or burglar alarm or sprinkler system may make you eligible for certain discounts. Be sure to check with your insurance broker before installing an expensive multi-function system.
  • Mature Homeowner: Usually available to retirees over the age of 55.
  • Secured Community: Living in a fully-secured community may also make you eligible for a discount.
  • Home Improvements: Improvements such as upgrading plumbing or roofing may result in a reduced homeowners insurance premium.
  • Lifestyle: Specifically, because of the damage caused by cigarette ignited fires, insurance companies will reward non-smokers.
  • Loyalty: If you’ve been with the same insurer several years in a row, you may be eligible for this discount.

Take another look at your homeowners insurance and see if any of these above items apply. It may be a great way for you to save some money!

Realtor.com


Featured Property of the Week

Wednesday, April 11th, 2012

DSCN2412

1820 Mountainside Ave  Suffolk, VA 23434

This great home has an open floor plan with great room, dining room, & large eat-in kitchen. Large fenced backyard, deck play set, shed & 2 car attached garage. Come & See! Great neighborhood for your family.

Listed by: Gisela Greene

kitchen great DSCN2441 backyard


Featured Property of the Week

Wednesday, April 4th, 2012

sidehouse 5845 Mineral Spring Rd   Suffolk, VA 23438

Potential for 6 bedrooms (using Library & office). Home is in great condition & has new paint & windows. Huge eat-in Kitchen. Beautiful covered back porch, 30X40 Pole Barn with 30X15 attic. All appliances convey. Not a short sale.

Listed by: Margaret Richardson

kitchen fireplace coveredporch polebarn




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