Monthly Archives: January 2010

How to Help Your Home Stand Out and Sell Faster

In today’s buyers market, home-selling clients are always asking me what they can do to help their homes stand apart from the competition. As a Member of the Top 5 in Real Estate Network®, I have seen how effective home staging can make all the difference in not only a quicker sale but a more profitable sale, as well.

First, it’s important to realize that home staging does not refer to the usual steps taken when your home is placed on the market, like painting the front door, taking away personal photos, and baking something in the oven. Staging, rather, is the professional merchandising of your home. This helps create an instant connection with potential buyers as they walk through the door. Just as new homebuilders create a model home for buyers to envision themselves living in, home staging does the same for your existing home.

Here are some important facts to be aware of before embarking on the home-staging process:

  1. Make sure your home stager is knowledgeable about real estate and, in particular, your local market. Knowing what other homes in your area sold quickly provides the stager with important clues as to what buyers are attracted to.
  2. Real estate agents, especially Top 5 Members like me, are excellent sources for referrals on home stagers in your area. Be sure to ask your neighbors as well.
  3. Staging seeks to minimize the furniture in any given room in order to create the right spacing, while displaying as much floor space as possible. Be prepared with a convenient storage solution before you begin the staging process.
  4. According to the International Association of Home Staging Professionals (IAHSPR), there is a growing trend toward eco-friendly home staging, where stagers provide specific “green” materials to sellers. This creates unique appeal to today’s environmentally conscious consumers.
  5. Home staging is also on the rise among short sale and foreclosure properties where homes might be in need of special care. If you are in a financially challenged situation and need to sell your home, talk to your real estate professional about staging. Certain lenders are working with stagers in order to expedite these types of sales.

In the current real estate climate, homes must be merchandised and marketed wisely.

Selling A Home? Click Here

Buying A Home? Click Here

Ed Butler
(Licensed In Virginia)
RE/MAX Gateway
Two Offices For Your Convenience

7521 Virginia Oaks Drive
Gainesville, VA 20155

Brambleton Office Coming
Summer of 2010

4090-B Lafayette Center Drive
Chantilly, VA 20151

Realtor Member of MLS When It’s SOLD, The Butler Did It! Equal Housing Opportunity

New HUD Policy Created to Allow Quicker Foreclosure Re-sales!

Effective February 1, 2010 the Department of Housing and Urban Development (HUD) will relax FHA rules that prohibit insuring mortgages on homes that are owned by the seller for less than 90 days – a move that could help expedite the rehabilitation and resale of foreclosure properties.

In a housing market where tighter lending requirements have made FHA financing the only option for some buyers, this 90-day policy has (1) kept some homebuyers from being able to purchase affordable homes and (2) prevented the quick resale of foreclosed properties, which affects the ability of communities to stabilize and rebuild.

Research has shown that the buying, fixing, and reselling of foreclosed properties is often achieved in less than three months time.

The temporary waiver, which will expand access to FHA mortgage insurance to many, will be in effect for a period of one year, unless extended or withdrawn by the FHA. With this in mind, now may be an excellent time to contact clients who have recently purchased a foreclosed property and those who may be on the fence about purchasing a foreclosure as a short-term investment.

“FHA borrowers, because of the restrictions we are now lifting, have often been shut out from buying affordable properties,” said FHA Commissioner David H. Stevens. “This action will enable our borrowers, especially first-time buyers, to take advantage of this opportunity.”

To ensure FHA borrowers are protected from inflated prices, the policy has certain restrictions, including:

All transactions must be arms-length and there can be no identity of interest between the buyer and seller.
If the sales price of the property is 20 percent or more above the seller’s acquisition cost, the lender must meet specific conditions for the waiver to apply.
The waiver is limited to forward mortgages, and cannot be used under the Home Equity Conversion Mortgage (HECM) purchase program.

Read The Full Text Of The Waiver

Selling A Home? Click Here

Buying A Home? Click Here

Ed Butler
(Licensed In Virginia)
RE/MAX Gateway
Two Offices For Your Convenience

7521 Virginia Oaks Drive
Gainesville, VA 20155

Brambleton Office Coming
Summer of 2010

4090-B Lafayette Center Drive
Chantilly, VA 20151

Realtor Member of MLS When It’s SOLD, The Butler Did It! Equal Housing Opportunity

Heritage Hunt Homes For Rent ~ Gainesville VA Real Estate

Homes For Rent ~ The Marque At Heritage Hunt ~ Gainesville VA Real EstateThe Marque At Heritage Hunt

While not affiliated in any way with the Heritage Hunt community, the Marque at Heritage Hunt is Northern Virginia’s first luxury active adult rental. It derives it’s name because it is located just outside the entrance to Heritage Hunt, Northern Virginia’s premier active adult community. Purported to be a “virtual cruise ship on land”, The Marque provides amenities that will pamper it’s residents and make the most of each golden moment with world-class recreational facilities, social and business amenities, and a full complement of services including concierge, theatre, health club, available underground parking and gated entry.

Contact Me Today For More Information

Selling A Home In Heritage Hunt? Click Here

Buying A Home In Heritage Hunt? Click Here

Ed Butler
(Licensed In Virginia)
RE/MAX Gateway
Three Offices For Your Convenience

4090-B Lafayette Center Drive
Chantilly, VA 20151

7521 Virginia Oaks Drive
Gainesville, VA 20155

10135 Colvin Run Road
Great Falls, VA 22066

Realtor Member of MLS When It’s SOLD In Heritage Hunt, The Butler Did It! Equal Housing Opportunity

Homes For Rent In Dominion Valley ~ Haymarket Real Estate Update

Application Registered

Homes For Rent In Dominion Valley` 15659 Ryder Cup Drive15659 Ryder Cup Drive ~ Offered For Rent At: $2,800

Brokered By: RE/MAX Olympic Realty

This property was on the market for 22 days. It has an application registered and pending approval.

See The Entire List Of Homes For Rent In Dominion Valley


Selling A Home In Dominion Valley? Click Here

Buying A Home In Dominion Valley? Click Here

Ed Butler
(Licensed In Virginia)
RE/MAX Gateway
Two Offices For Your Convenience

7521 Virginia Oaks Drive
Gainesville, VA 20155

Brambleton Office Coming
Summer of 2010

4090-B Lafayette Center Drive
Chantilly, VA 20151

Realtor Member of MLS When It’s SOLD In Dominion Valley, The Butler Did It! Equal Housing Opportunity

FHA to Announce Changes This Week

 FHA to Announce Changes This WeekCongress requires the Federal Housing Administration to maintain a capital reserve of at least 2 percent, but in October 2009 that reserved dropped below that limit. Congress and the Obama Administration asked FHA to make some changes to make sure it remains strong.

We’ll find out what those changes are later this week (the specific date wasn’t available at press time). Meantime, our friends at NAR have been discussing the issue, and say they expect changes in several areas. For example, they suggested improving FHA loan quality by, among other things, increasing ‘upfront cash’ that a borrower has to bring to the table, eliminating the ability to finance the upfront premium, increasing the cash investment required above 3.5%, and imposing a loan-to-value maximum ratio based on FICO score.

There’s a lot more to it, and you can read the details of what NAR had to say on VARbuzz.

Bottom line:

FHA will be transformed over the next few years. The changes outlined above are the beginning of the process with additional changes expected during the tenure of FHA Commissioner Dave Stevens. Going forward, FHA will continually evaluate programmatic changes and will likely withdraw them when the capital ratio returns above 2 percent. However, it is unlikely FHA will relax risk management and lender monitoring enhancements.