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How to buy your first home…and why.

Posted on April 10, 2008 | Filed Under Real Estate Education

Buying your first home is a great financial decision for most people. It can, however, be a very intimidating move without the right knowledge and guidance. There are many financial advantages including tax deductions, and building valuable equity in your home but other aspects as well including pride of ownership. So without any further ado, let’s go to it.

  1. Develop a relationship with a reliable real estate agent.
    While this very first item may seem self-serving (since I’m a real estate agent), it is however a very essential first step. By working with a real estate agent from the beginning, you can develop a professional relationship with them and have a person you can rely on to guide you through the entire purchase process from qualifying for a loan, searching for to coordinating the closing of your new home. AND, as a home buyer, your real estate agent will be paid in most circumstances by the seller. It doesn’t cost you anything.
  2. Get yourself pre-qualified for a mortgage.
    This may seem like putting the cart before the horse, but by pre-qualifying you empower yourself to back up your offer with the ability to close quicker than someone who has not taken this first step. The option to close quick can often help your contract win out over another contract, especially if the seller is motivated. Also, by pre-qualifying in advance, you know exactly how much you’ll be approved to purchase which can be helpful during the search process.
  3. Do your research.
    Work with your real estate agent to help them know what you’re most interested in. What neighborhoods do you prefer? If you have children, do you have a school district preference? Is your commute time to work important? Do you absolutely hate split foyers? You’re trying to figure out the “deal killers”. What does your new home have to have and what, if it were missing, would immediately change your mind about that house? The answers to all of these questions will enable your real estate agent to better refine their search process for you and send you the most relevant listings that meet your needs.

The next post in this series will be what to look for when you’re touring homes with your real estate agent.

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Love from The Roanoke Times and AP

Posted on March 27, 2008 | Filed Under Real Estate News

There’s an article in today’s Roanoke Times quoting me as a source. I received a call yesterday from a reporter at The Roanoke Times looking for real estate data on home sales in the Roanoke Valley.

We have a large amount of inventory currently for sale as compared to previous years but, as I mentioned in the article, I have already noticed a significant upswing in sales and buyer inquiries since the middle of February. Things are beginning to look up!

It’s a great market to buy a home for you and your family.

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It’s a beautiful day

Posted on March 19, 2008 | Filed Under Random Thoughts

Just wishing everyone a happy day. Spring is almost here and I’ve already noticed the number of phone calls I’ve received have increased significantly and my web visitors have doubled in the last month!

Folks are looking to buy and sell real estate this year, contrary to the nay saying we hear in the media.

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Virginia real estate developers restricted from removing trees

Posted on March 10, 2008 | Filed Under Commercial Real Estate, Real Estate News

Last week Virginia Governor Tim Kaine signed a new bill into law that will require Northern Virginia real estate developers to preserve a specified percentage of original trees on the land they intend to develop. The bill is intended to help with air quality improvement with additional benefits being preservation of wildlife habitat and storm water runoff filtering.

The law may not have much bite though in a much-needed area of Virginia. According to this story in the Washington Post, “The bill takes effect July 1, but local jurisdictions can choose whether to follow it.”

Treeless neighborhoods having a lasting impact according to Virginia McGuire who lives in Northern Virginia-

“I keep getting upset with my kids when they try to climb a tree,” said McGuire, who is also chair of Leesburg’s Environmental Advisory Commission. She’s worried about the trees being hurt. “You can’t spare any.”

“This was a farm, and there weren’t a lot of trees here, but there were trees here,” she said. “And there’s just nothing left.”

Another sign with a leaf motif announced the development’s name: Oaklawn.

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North Roanoke County foreclosures for sale

Posted on March 9, 2008 | Filed Under Foreclosed Homes for Sale, Roanoke County Real Estate

There’s a nice little foreclosure that just came on the market in the Woodhaven area of North Roanoke County. I’ve personally inspected it and although, as with most foreclosures, it does need some repair work, it’s a great value. Here are the vitals-

  • SOLD
  • 4 bedrooms
  • 2 baths
  • 1660 square feet
  • Full basement
  • Huge deck in the back yard
  • Tile floor in kitchen
  • Central air
  • Forced air gas heat
  • $112,900

And here’s a foreclosed town home also in the North Roanoke County area. It’s vitals are-

  • 4 bedrooms
  • 2.5 baths
  • 1924 SF
  • Full basement
  • Central air
  • Forced air gas heat
  • $134,900

Call me for a personal tour of either of them or to answer your foreclosure questions!

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Old Southwest investments in Roanoke

Posted on March 9, 2008 | Filed Under Real Estate Investments, Roanoke City Real Estate

It seems like lately that the Old Southwest neighborhood in Roanoke is one of the hot places to be and a great place for investment as well. Here’s your opportunity to get in on the ground floor with some properties that are ready to be taken over.


117 12½ Street SW, Roanoke

  • $66,500
  • A lot of refurbishing is already completed
  • Great positive income rental potential and close to the bus line
  • New roof, electric panel, siding, wiring, flooring, carpet, vinyl, etc.
  • 4 bedroom, 2 baths
  • Great Old Southwest style

609 Elm Avenue SW, Roanoke

  • $82,500
  • Doesn’t need many repairs, would make a great remodeling project
  • Great architectural details, fireplace, old style windows, bonus attic space, dormer windows, etc.
  • 4 bedroom, 1 and a half baths
  • Classic Old Southwest architecture and style

1722 Patterson Avenue SW, Roanoke

  • $85,500
  • Needs a few repairs but not much
  • Great positive income rental potential and close to the bus lines
  • Lots of space, your tenants will love it!

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What you don’t know about foreclosures (but should)

Posted on March 7, 2008 | Filed Under Foreclosed Homes for Sale, Real Estate Education

You see it on the news, cable television and infomercials-

Buy foreclosures at pennies on the dollar! Save big money in real estate investing with foreclosure short cuts!

I regularly sell and help people purchase foreclosures in the Roanoke Valley and surrounding counties. With all this experience I’ve learned a thing or two! Here’s the real skinny folks and a few things you need to know before thinking about buying a foreclosure-

  1. Foreclosures are often a very good deal but not the kind of deals you see on TV.
    As an agent who regularly markets, services and sells foreclosed homes in the Roanoke area, I understand the process and while it is a foreclosure, the bank who owns it is trying to keep from losing as much money as possible. They do not sell for pennies on the dollar.
  2. Foreclosed homes generally are in fair to poor condition.
    It’s unfortunate; the people who lose their homes to foreclosure do so because they can’t afford their payments and therefore also can not afford to upkeep the house. Foreclosed homes almost always have maintenance needs and sometimes major maintenance problems.
  3. Foreclosed homes are sold “as-is”.
    The financial institutions who own these homes know they have problems and they aren’t going to spend time negotiating over carpet stains or damaged tiles. Before a foreclosed home is ever advertised for sale, it has gone through a rigorous valuation market analysis with the listing agent and other real estate agents who take these problems into account when suggesting a fair list price on the home. Hire a home inspector so you are less likely to be surprised with a problem after closing. Caveat Emptor!
  4. Negotiating with the bank on a foreclosed property is almost the same as a private seller.
    Low ball offers and unreasonable expectations are likely to be quickly rejected by the selling bank the same as you would on your own home. They are reasonable negotiators but not desperate.

So there you have it. A few tips from an experienced foreclosure agent. With all of that said, foreclosed homes are still a good deal and typically priced below the actual market value, and, the longer it’s been on the market, in most instances, the better the deal for you. Be smart though and consult with an experienced agent before buying any home, foreclosure or not.

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Five things you might not know about me

Posted on March 5, 2008 | Filed Under Ramble On

Jeremy Hart asked Stuart Mease who tapped me for this meme as a way to share information from blogger to blogger to increase exposure and give a more personal touch to a blog. So here you go-

  1. I am an Eagle Scout with the Boy Scouts of America. As a Boy Scout I was able to do a lot of amazing things and take some really fantastic trips to places like Philmont Scout Ranch in New Mexico!
  2. I spent almost 7 years in jail from 1998-2005. (I actually worked there as a magistrate!) One midnight shift I smashed a giant jail roach with a volume from the Code of Virginia, quite literally throwing the book at it.
  3. While in college I volunteered with the Roanoke County Fire & Rescue Department as a cardiac technician on the rescue squad. Saw many tragic things.
  4. We have a golden retriever named Rooster. He’s a mischievous fellow and likes to raid the laundry for his favorite item to play keep-away…our socks.
  5. I worked for 4 summers at Camp Bethel near Troutville on the summer staff. One of the things I enjoyed most was working as the naturalist and one of my assumed responsibilities was to rid the main areas of any snakes that wondered in. I was given the nickname “Snakeman” by the kids!

So it is now time to pass this along to someone else.  I think I will tap Todd Hester and Rhett Fleitz.

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New Construction : Slowing or growing?

Posted on November 10, 2007 | Filed Under Real Estate News

The Roanoke Times recently published an article giving a cursory look over new home construction in Salem.

The national housing market has been described as slow, gloomy and in crisis. But in Salem, things are booming.

Now that makes the new construction market sound just peachy. The problem with making as assertion like that is it’s not true. Yes, builders are continuing to frantically build new neighborhoods all over the Roanoke and Salem markets, but that doesn’t indicate a healthy market. These builders are already committed to these new developments and financially enmeshed with them and it’s prudent for them to continue but where will the buyers come from?

“There’s a misconception that we’re in a doom-and-gloom market,” Hendrickson said.”

I hope they’re misquoting this guy because it seems to me to be a very ‘head-in-the-sand’ statement to suggest the market hasn’t turned for the worse in the past few months.

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Bonsack home priced to sell!

Posted on October 10, 2007 | Filed Under Botetourt County Real Estate, Roanoke County Real Estate

Bonsack Botetourt County home for saleThese folks are ready to sell. They have just listed this 3 bedroom, 2 bath immaculate home in Bonsack for the low price of $199,950! That’s a great deal for this neighborhood if you’ve recently compared home sales in the area.

This house features views of the surrounding mountains from every major room (including the bedrooms!) If you look closely at the photo you can see the reflections of the mountains in the front windows! A spacious 2-car garage and enormous, level back yard are also yours for the taking. This house is well-kept with recent landscaping, paint and more! It features a nice deck off the dining room for entertaining, grilling out and enjoying the view of the Mill Mountain Star in the distance!

Call your agent (or me) for a private viewing before it’s gone! You can also click here to view the virtual tour.

This Botetourt County home has been sold.

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Roanoke’s prosecutor should look inward for problems

Posted on October 10, 2007 | Filed Under Rants

The Roanoke Times recently wrote an article about the Timothy Workman trial in Roanoke. Mr. Workman is the ex-DEA agent recently acquitted in the shooting death of a man outside a local restaurant several years ago. Apparently Donald Caldwell, the elected Roanoke City commonwealth’s attorney made some statements that local police have found offensive and inappropriate during the trial. Here are a few excerpts from the Times story-

“Roanoke police officers challenged the city’s top prosecutor Tuesday, rejecting remarks in which he compared a city officer to Barney Fife in open court.

Caldwell criticized police for allowing Workman, an off-duty Drug Enforcement Administration agent, to walk around and speak with investigators after the shooting rather than handcuffing him and isolating him like any other suspect.

Comparing Garrett to the bungling deputy sheriff on “The Andy Griffith Show,” Caldwell described him as “the good-hearted guy who tries to help out, but he doesn’t quite get it right.”

As a former Magistrate in Roanoke City, I have worked with the criticized police officer on many occasions and besides always being extremely professional and competent with me, I found him to always be respectful to those under arrest as well.

In this instance, it seems to me like another opportunity for the City’s elected prosecutor to sling mud and blame someone else for his own office’s blunders. I often found Mr. Caldwell’s office uncooperative (they are charged with advising the magistrates if necessary) and condescending towards victims, professionals and others on more than once occasions. Enough to classify it as an attitude endemic to himself and his employees.

Rather than fighting with federal authorities over which crimes they prosecute, it seems like the CA would want the Feds to prosecute in the cases where the criminals would get more time and therefore keep them out of our community longer. Instead, it smacks of a childish, territorial game played out at the expense and slandering of an otherwise professional police officer.

From Roanoke’s Chief of Police, Joe Gaskins-

Roanoke Police Chief Joe Gaskins said he is unaware of any complaint against Garrett in the officer’s 17-year career with the department.

“Kenny Garrett is a fine officer and for anyone to assume they knew what was in his mind without any proof was erroneous, period,” Gaskins said.

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Troutville - Buchanan Foreclosure For Sale

Posted on September 10, 2007 | Filed Under Botetourt County Real Estate, Foreclosed Homes for Sale

Botetourt County real estate foreclosure for sale
Botetourt County real estate foreclosure for sale

Here’s a great Botetourt County ranch home, HUD foreclosure, ready for a quick flip or new home buyer.

This home features 3 bedrooms and 2 full baths. The master bedroom looks onto the backyard (see photo) and has its own private master bathroom with bathtub! Ceiling fans in the rooms and an enormous dining room and kitchen with newer cabinetry and counter tops really provide room to entertain your guests!

The exterior features a large 2-car garage with garage-door opener, and back-door access to the garage. The yard is 0.5 acres with views of the surrounding woods and mountains in Botetourt County.

Foreclosed real estate in Botetourt County like this doesn’t come around every day and is a real steal at only $160,000. Call me today before it’s gone!

This Botetourt County real estate has been sold.

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Another Roanoke Foreclosure SOLD!

Posted on August 31, 2007 | Filed Under Foreclosed Homes for Sale, Roanoke City Real Estate

FORECLOSURE SOLD

Roanoke, Virginia foreclosed duplexThis foreclosure in northwest Roanoke was a great deal for the investor who purchased it. I sold it for only $47,000!! Can you believe that? Foreclosing banks and the government are eager to get rid of their inventories.

There are many many foreclosure deals like this to be had in Roanoke. Why don’t you contact me to receive a regularly updated list of deals?

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Roanoke Arts Festival - October 4-7, 2007

Posted on August 23, 2007 | Filed Under Roanoke Happenings

The Roanoke Arts Festival is coming again!

I just received a press release from the tba: Thomas Becher Agency about the upcoming Roanoke festival and want to pass it on to you.

Highlights of this year’s festival include performances from Judy Collins, Grammy Award winner Ramsey Lewis and the Ramsey Lewis Trio & Little Feat.  Also there will be literature and poetry reading from the faculty and students of Hollins University Graduate Program in Creative Writing (which is a real treat if you’ve never attended a Hollins reading) and of course the Downtown Living Tour.

See more things to do here.

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New homeowners in Craig County

Posted on August 15, 2007 | Filed Under Roanoke County Real Estate

Craig County new constructionCongratulations to my clients, the Howards, who recently purchased this beautiful new construction just over the line in Craig County.  This beautiful home features a full acre of cleared land with views of the Blue Ridge Mountains all around.  Featuring 3 bedrooms, 2 full baths, garage and two covered porches I have a feeling they’re going to enjoy the scenery and Roanoke Valley views!

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