Change Your Bookmark!

September 22, 2009

This is my final post on wordpress.com!

C’mon over to my NEW website and blog at

It’s Good To Have A Friend In The Business

and change your bookmark to

http://KimHannemann.com


New Site!

September 18, 2009

Over the past week I have moved from this wordpress.com blog site to a new platform where I can (a) use my domain kimhannemann.com (formerly a rather bad template site) and (b) incorporate a great search tool called RealBird and other new features.

Change your bookmark (you DO have a bookmark for my site, don’t you??) to http://kimhannemann.com.

I’m still in the process of working all of this out, but I think you will find the changes worthwhile.

Take a look at it and tell me what you think!


Why Use A Buyer’s Agent? Because You’ll Get A Better Deal

July 25, 2009

Another piece on buyer’s agents from Greg Swann:house

Are home-buyers best served by the vigilant efforts of an experienced buyer’s agent? Consider a transaction we have in play right now.

The buyers are a young couple, about to be married. They have about $10,000 in cash. With a conventional loan, they could put 20% down on a dismal starter home. Or, with Private Mortgage Insurance, they could put 10% down on a nicer home.

But with an FHA loan, $10,000 is 3.5% down on a $285,000 home. We can argue the wisdom of making so small a down payment, but the FHA loan program is the path to homeownership for millions of Americans. And $285,000 is too much house for our buyers. They found a nice lender-owned two-story home in the suburbs selling for $169,000. The down payment on that home would be $5,915. But the closing costs would probably run to another $5,000 — which comes to more money than they have.

They qualify for the $8,000 first-time home-buyer tax credit, but they won’t get that until they file their tax return. They also qualify for a state-funded grant program that will contribute up to 22% of the purchase price — but which can’t be used for the down payment or the closing costs.

Here’s the deal we put together. We offered $175,000, $6,000 over list price. In exchange, we asked the seller to contribute 4% of the full purchase price [$7,000 — FHA allows up to 6%] to defray the buyer’s closing costs. The down payment will be $6,125, leaving the buyers $3,875 in cash to pay for the endless expenses of moving into a new home.

And there will be about $2,000 left over after the closing costs are paid. This will be used to buy down the interest rate. The buyers will end up with just over 25% equity in the property for a cash outlay of $6,125 — all at a very low monthly payment. And they’ll still have their $8,000 tax credit to look forward to.

This is the kind of outcome a skilled buyer’s agent can achieve.

Right again, Greg. There are so many ways a knowledgeable agent can help you get a better deal, that is right for you, even when you pay full price or more.

Kim Hannemann, Samson PropertiesSamsonPropTag
Real Estate Consultant/Realtor
Cell: 703-861-9234 • Fax: 703-896-5055
Email: KimTheAgent@gmail.com
It’s Good To Have A Friend In The Business®

If you would like to discuss real estate questions, sell or buy a home in Northern Virginia – including Alexandria, Annandale, Arlington, Burke, Centreville, Chantilly, Clifton, Fairfax, Fairfax Station, Falls Church, Kingstowne, Lorton, McLean, Reston, Springfield, or Vienna – contact Kim today.

4.5% Listings with First-Class Service — Cash Back to My Buyers!


If You Can Search The MLS, Why Do You Need An Agent?

July 24, 2009

homesalepriceFrom agent Greg Swann in the Arizona Republic:

Here’s an intriguing question: Given that it’s so easy to search for homes on the internet, why do you need a buyer’s agent?

Face it, if you use the MLS search tool on my web site, you’re seeing exactly the same listings I see. And you know better than I ever could what you like and what you don’t like.

By now, the home search process is at best a partnership between the agent and the buyer. In some cases the buyer and I will work together to perfect our search criteria. But many buyers simply search the available inventory on their own, emailing me the MLS numbers of the homes they want to see.

So why do those buyers need a buyer’s agent?

Realtors hoarded the MLS data for so long that even they came to believe it was the source of their value to buyers. But this is very far from the truth.

You don’t need me to search for listings, although I’m happy to do that. And you don’t need me to open lock-boxes. You need a buyer’s agent to guide you through what is in fact an arcane and perilous process — potentially a financial disaster. You might not need me to find your next home, but you need me to make sure that you get it — or that you pass on it, if that is what is truly in your best interests.

A skilled buyer’s agent will write the kind of purchase contract that will prove surprising to you at every turn, with every term and condition tailored to achieve your best advantage. Your agent will supervise the inspection process and negotiate the optimal solution to the repair issues. Your agent will be prepared for every pitfall in the escrow process.

If you bought and sold houses every day, you could do all these things yourself. It’s because you don’t — and because the seller and the listing agent are looking to take advantage of your naivete at every turn — that you need a skilled buyer’s agent as your steadfast champion in the home-buying process.

Greg’s post is right on the money. Personally, I like to help my clients search for homes, but that’s largely because as an agent I have access to information that can tell me, for instance, whether or not the property is already under contract even though it’s still listed as “Active” in the search they are using. I’m also looking for certain things that clients – no matter how savvy they may be – will not notice or understand. Still, it’s what comes after finding the property that is going to make a bigger difference to my clients, and makes my involvement crucial for them.

Kim Hannemann,  Samson PropertiesSamsonPropTag
Real Estate Consultant/Realtor
Cell: 703-861-9234 • Fax: 703-896-5055
Email: KimTheAgent@gmail.com
It’s Good To Have A Friend In The Business®

If you would like to discuss real estate questions, sell or buy a home in Northern Virginia – including Alexandria, Annandale, Arlington, Burke, Centreville, Chantilly, Clifton, Fairfax, Fairfax Station, Falls Church, Kingstowne, Lorton, McLean, Reston, Springfield, or Vienna – contact Kim today.

4.5% Listings with First-Class Service — Cash Back to My Buyers!


First US Large-Scale Solar Power Tower

July 14, 2009
esolarchris

Chris On-site

esolarplant

eSolar Plant

OK, for those of you who care about my family (of course all of you do) you might be interested in watching the National Geographic Channel at 5 PM on Thursday, July 16 where Sean Riley in World’s Toughest Fixes will participate in constructing America’s first large-scale solar power tower, courtesy of eSolar, Chris’s company.

Not literally his company, but he does have stock options. And he’s R & D-ing power tower designs.

In Fairfax County, that’s Cox HD channel 719 or Cox Digital Discovery Tier channel 160.esolarlogo


Springfield Town Center Plan Finally Moves Forward

July 14, 2009

From the Fairfax Times today:sprtownctr

A complete overhaul of the Springfield Mall and surrounding areas gained final approval July 13.

The Fairfax County Board of Supervisors unanimously approved turning the 34-year-old mall property into a more urban-style town center that the community hopes will once again make central Springfield a destination.

“Springfield Mall needed a complete transformation,” said Supervisor Jeff McKay (D-Lee). “We wanted a regional mall on par with other regional malls in the area that we could be proud of.”

The project includes upgrades to the mall itself, as well as construction of new offices, apartments, a hotel, movie theater and additional restaurants and shops. Mall owner Vornado has also promised to improve connections to the Franconia-Springfield Metro station for pedestrians, cyclists and buses; build a synthetic turf playing field; and contribute to area road and park improvements.


Northern Virginia Home Sales June 2009

July 13, 2009

June 2009 home sales activity for Fairfax and Arlington counties, the cities of Alexandria, Fairfax and Falls Church and the towns of Vienna, Herndon and Clifton:

A total of 2,169 homes sold, 14.2% more than  June 2008 home sales of 1,900 and the 11th consecutive month of higher year-over-year sales.

Active listings decreased by 27 % from last year, with 7,617 active listings in June, compared with 10,440 homes available in June 2008.  The decrease in “inventory,” as we real estate people refer to homes for sale, is becoming somewhat alarming – that’s only 3 1/2 months of inventory.

The average days on market (DOM) for homes in decreased to 71 days, compared with 83 days in June 2008. However, more than half the homes sold in under 30 days.

The average sales price in June fell by 7% from June 2008, to $451,354, while the median price fell 6% to $392,367. These prices are, however, again higher than the preceding month.

And for the 15th straight month, the number of pending home sales increased 17% over the same period last year.

statsjun

Kim Hannemann, Real Estate Consultant/Realtor®, Samson PropertiesSamsonPropTag
Cell: 703-861-9234 • Fax: 703-896-5055 • Email: KimTheAgent@gmail.com

It’s Good To Have A Friend In The Business®

If you would like to discuss real estate questions, sell or buy a home in Northern Virginia – including Alexandria, Annandale, Arlington, Burke, Centreville, Chantilly, Clifton, Fairfax, Fairfax Station, Falls Church, Kingstowne, Lorton, McLean, Reston, Springfield, or Vienna – contact Kim today.

4 – 4.5% Listings with First-Class Service — Cash Back to My Buyers!


Follow

Get every new post delivered to your Inbox.