Real Answers to Real Estate - Gene Mock, Aiken SC.

The Honey-Do List Before You List

2012-05-17T19:27:24Z

Everyone has encountered the "honey-do" list at one time or another in their lives. This is the list of tasks that your "honey" gives you to complete. They can range anywhere from cleaning out the gutters of your Northern Virginia/South Carolina home to picking up a gallon of milk from the store on the way home. When you are selling your home, there is a "honey-do" list of tasks you need to take care of BEFORE you list your home.

Get Your Paperwork in Order - The more information you have about past repairs, warranties on appliances and updates you've done to your Northern Virginia/South Carolina home, the easier it is for your real estate agent to know what to highlight on your listing to make it the most appealing possible. Home warranties are especially important because this information will most likely transfer on to the new owner.

Eliminate the Clutter - Depersonalizing your Northern Virginia/South Carolina home makes it easier for potential buyers to imagine themselves inhabiting the space. You can also get a jump on your packing, which will eventually need to be done anyway. Finally, de-cluttering makes a room look lighter, brighter and bigger.

Getting Down and Dirty - No matter what time of year it is, a good bit of spring cleaning is important before you list your Northern Virginia/South Carolina home. Steam clean the drapes and furniture, deep clean the carpets, scrub the grout, make your windows sparkle and move the refrigerator so you can get into the nooks and crannies where dirt likes to hide. Buyers will be looking EVERYWHERE in your home when considering whether to purchase it. Dirt, stains and bad smells (smoke and pet odors in particular) can really turn a buyer off.

Repair, Replace or (Officially) Estimate - Now is the time to really dust off that old "honey-do" list you've had folded in your pocket for months. Little repairs, like fixing a loose doorknob, replacing a ripped window screen or tightening a gate latch may seem like small potatoes to you, but they make buyers think that there might be something bigger that you haven't taken care of in the home. Get estimates for larger repairs that you are unable to take care of at this time so you can present them to a buyer, if needed. Spend the money on an official home inspection. This will allow you to see if there are any larger issues that need to be taken care of before you list. If you take care of them first, 1) a buyer will never know they existed in the first place and 2) you will be able to get a decent asking price for your Northern Virginia/South Carolina home. Keep in mind that buyers tend to overestimate repairs by as much as double the actual costs, which affects the sales price of your home.

Set the Stage - After the de-cluttering, cleaning and repairs are completed, begin staging your home. Moving furniture around to better show off certain areas of your home, adding pretty potted plants and flowers and sprucing up the exterior areas will turn your Northern Virginia/South Carolina home into a real showplace for potential buyers.

Don't put it off any longer. Take care of these items on your "honey-do" list BEFORE you list your Northern Virginia/South Carolina to sell. That way, you can get the best possible price in the least amount of time needed. When you're ready to sell or simply have some questions you need answered, just let me know.

FEATURED PROPERTY OF THE WEEK

For more information on this home, please click here.

Gene Mock, your source for real estate in Northern Virginia, South Carolina and Washington DC

Originally posted on my Northern Virginia Homes real estate blog here: http://northernvirginiahomes.net/2012/05/17/the-honey-do-list-before-you-list/.

Pros and Cons of Adding a Pool

2012-05-10T18:23:26Z

Warmer weather makes the idea of cooling off in your very own pool rather enticing. Yes, a swimming pool adds some value to your Northern Virginia/South Carolina home as well as enhance your lifestyle. But is the cost to construct and maintain a home pool worth it? You should weigh the pros and cons of adding a pool before you begin.

PROS

Great for no impact workouts
Wonderful place to hang out with the family and friends
Adds value to your home

CONS

Can be a drowning hazard for children if not properly contained
Mosquitoes love a moist playground to breed
Costs thousands of dollars to install and that's before you factor in the cost to maintain it year round

In all likelihood, your Northern Virginia/South Carolina pool will cost you much more than the increased value it brings to your home. You can overcome some of the negatives by fencing in the pool and adding a self-locking gate, removing any furniture or other items around the fencing that can be used to crawl over it, adding a pool cover and/or simply keeping your pool properly maintained even in the off season. When it comes down to it, you need decide whether adding a pool to your Northern Virginia/South Carolina home is worth the time, effort and money involved for your lifestyle...not the value you think it might add.

QUESTIONS TO ASK YOURSELF

Do other homes in your neighborhood have pools? If yes, a pool will help you compete with these other homes when it comes time to sell. If not, it won't make much of a difference in value unless you live in a highly desirable neighborhood (where being the only house with a pool allows you to stand above the rest).
How do Northern Virginia/South Carolina homes with pools in your neighborhood sell in comparison with those that don't? This is a question your real estate agent should be able to answer for you.
How long do you plan on staying in your Northern Virginia/South Carolina home? Families who love spending time in the water will benefit from having a pool whether it adds value or not, especially if you plan on staying there for a while.

Consider the pros and cons of adding a pool carefully before you begin digging a hole in the ground of your Northern Virginia/South Carolina property. It can be an expensive endeavor but, depending on your lifestyle and the amount of time you plan to spend in your home, it may well be worth it. Only you can decide that for yourself.

FEATURED HOME OF THE WEEK

For more information on this home, please click here.

Gene Mock, your Northern Virginia, South Carolina and Washington DC real estate specialist

Originally posted on my Northern Virginia Homes real estate blog here: http://northernvirginiahomes.net/2012/05/10/pros-and-cons-of-adding-a-pool/.

Can I Afford That Home?

2012-05-03T19:30:39Z

Buying a Northern Virginia/South Carolina home is a major financial decision. Just because a mortgage company says you qualify for a specific amount doesn't mean you HAVE to spend that much. In fact, with the Homes for Heroes Program, you won't have to worry about breaking the bank to achieve your goals of homeownership. There are several factors to mull over when you are trying to decide if you can afford that Washington DC home.

In general, financial experts recommend that you don't spend more than two to three times your annual gross household income on a home. For example, if your total annual income (before taxes) for you and your spouse is $90,000, you should be able to comfortably afford a mortgage payment on a home priced between $180,000 to $270,000. If you qualify for a home in the Homes for Heroes Program, you can actually look at homes that are traditionally priced even higher and still stay within that price window after your discounts are factored in. To determine what your comfort zone is, you should sit down and tally your monthly expenses and then add in what the usual costs of homeownership are: mortgage payment, taxes, insurance, HOA fees (if applicable), etc.

How much are you going to be putting down on your Northern Virginia/South Carolina home? The higher your downpayment, the less you have to borrow and the less your monthly mortgage payment will be. Also, if you put at least 20% down, you won't have to pay Private Mortgage Insurance (PMI), which is required by every mortgage company when borrowing more than 80% of the home's purchase price. The lower your downpayment, the higher your monthly mortgage payment will be.

If you are currently renting a Northern Virginia/South Carolina home, you can use your rent payment as a guide for what you can afford for your monthly mortgage payment. Homeowners receive certain tax benefits that renters do not. When you factor in these benefits, you can actually afford a payment about 1/3 more per month than you currently pay in rent (which includes your mortgage payment, taxes and insurance) without any change in your lifestyle at all. That means, if you currently pay $1200 per month for rent, you can actually afford 1.33 times that amount for your mortgage payment (or $1596 per month). However, if you're having trouble paying that $1200 per month, you should look for a Homes for Heroes home that can fit comfortably within your budget.

Lastly, look at your total debt. Mortgage lenders are using the 28/41 rule for determining whether a buyer is a good candidate. Your monthly payment, which includes the principal, interest, insurance and taxes shouldn't be more than 28% of your gross income. In turn, this number plus all your other debts (car loans/leases, credit cards, student loans, etc) should not equal more than 41% of your gross household income. If your debt falls outside these numbers, you may find yourself struggling to make your monthly mortgage payment. That definitely does not make for a happy homeowner.

Take the time to consider these steps in determining if you can afford a Northern Virginia/South Carolina home. If you are a military serviceman, teacher, healthcare worker, fireman or policeman, I may be able to help you find your dream Northern Virginia/South Carolina home at a drastically reduced price through the Homes for Heroes Program. Just ask me how. I'd love to help you, especially since you do so much for the betterment of our community.

FEATURED PROPERTY OF THE WEEK

For more information on this home, please click here.

Gene Mock, your source for real estate in Northern Virginia, South Carolina and Washington DC

Originally posted on my Homes for Heroes DC real estate blog here: http://homesforheroesdc.com/2012/04/17/afford-home/.

Is That Fixer-Upper Worth It?

2012-04-26T17:39:25Z

Buying a Northern Virginia/South Carolina home is a huge financial decision for anyone to make. Home prices have become incredibly affordable. When partnered with low interest rates and the inventory available, your options as a home buyer are tremendous. While a move-in ready home is fantastic, some buyers are looking at buying low and then fixing it up themselves to get the best deal possible. However, how do you know if that fixer-upper is worth it?

There are several things you have to consider before purchasing a Northern Virginia/South Carolina fixer-upper. Everywhere you turn, it seems another TV show is touting how easy it is to make improvements to your home yourself. Looks can be deceiving. Fixing up a home tends to take more time and money than you think it does. However, if you're willing to do a bit of research and planning, the payoff can be big.

Simple things like painting and wallpaper can generally be done by just about anyone. However, the more intricate work, like rewiring or plumbing repairs may require a more experienced hand. Depending on the amount and extent of repairs needed, you could be looking at living in a construction zone for several months. However, that shouldn't be a deterrent if you love the Northern Virginia/South Carolina home and are getting a great deal.

As I've said before, a home inspection is important for any Northern Virginia/South Carolina home buyer! This doesn't just include the inspection you do yourself when looking at potential homes. The smart buyer hires not only a professional home inspector to check out the roof, plumbing, electrical, etc., but also invests money in an inspection by a structural engineer to assess the structural integrity of the home. This can help you evaluate if the home is worth fixing up or can even be fixed up at all. Always make sure to get written estimates of repair costs to help you determine your offer, if you choose to buy.

Re-painting, replacing carpeting and general aesthetic touches don't need permits. However, structural changes, plumbing repairs and electrical work generally tend to need a building permit. If you do the work without a permit, you could run into trouble when you try to resell your Northern Virginia/South Carolina home in the future. It's not worth the hassle. Check with your city to find out if you need a permit to do the work you want done, how much it will cost and how long it will take to get the permits necessary.

Once you've gathered all your estimates, add another 10-20% for those unforeseen issues that always tend to arise. Talk to your REALTOR® about a fair offer on the Northern Virginia/South Carolina home in question. Find a recently sold home in the neighborhood that is comparable to what your home will look like once the repairs and updates are completed and deduct your estimated costs to repair. This should give you a fair offer price.

Move-in ready Northern Virginia/South Carolina homes are great. Buying a fixer-upper can be a fantastic investment as well. If you are willing to put in the time and effort necessary to bring that home up to date, a fixer-upper is definitely worth it. But only you can decide if that's the case for you! Contact me when you are ready to start looking.

FEATURED HOME OF THE WEEK

For more information on this home, please click here.

Gene Mock, your Northern Virginia, South Carolina and Washington DC real estate specialist

Originally posted on my Nothern Virginia Homes real etate blog here: http://northernvirginiahomes.net/2012/04/26/is-that-fixer-upper-worth-it/.

What to Do to Prepare for an Open House

2012-04-19T19:17:32Z

You've decided to sell your Northern Virginia/South Carolina home. You've hired your REALTOR®, you've decided on a price and it is now listed on the market. You and your REALTOR® decided on a date for an open house so potential buyers can see it live and in person. What do you need to do to prepare for an open house?

As soon as you know your open house date, you need to get your Northern Virginia/South Carolina home ready. De-cluttering is a major step to make rooms look bigger. The minimalist approach is good. You need to create a space that is inviting to the eye and allows buyers to see themselves living in it. That's hard to do with your collection of spoons from different states or a prominent display of beanie babies.

Now is the time to make all those repairs you have put off. When selling your Northern Virginia/South Carolina home, there is no such thing as a "small repair". Loose doorknobs, ripped window screens, leaky faucets or a faulty doorbell make a potential buyer wonder what other bigger issues may lurk within these walls. That can either lower their offer price or make them check your home off their dream list altogether.

Use some elbow grease on your Northern Virginia/South Carolina home. Really get into every nook and cranny. Wash the walls, clean the windows and scrub the grout. Deep clean the carpets. Steam clean the draperies and furniture, especially if you have pets or smokers in the house. Don't be fooled. Just because a smoker smokes outside doesn't mean that they don't bring that smell into the home when they are done. The smell of smoke lingers the longest in wood and fabric and is the hardest smell to get rid of.

Don't ignore the outside of your Northern Virginia/South Carolina home. Make sure the lawn is freshly mowed a couple of days before your open house is scheduled. Trim the shrubs. Store toys, bikes, tools, etc. neatly away. Keep the trash bins out of sight, if possible. If not, neatly tuck them away behind the gate so they aren't the first thing buyers see when they pull up.

On the day of your open house, store all personal items (checkbooks, bank statements, piggy banks, valuables, etc) in your trunk for safekeeping. Dress the dining room table as if you'll be hosting a special dinner. Set up the backyard table for a barbecue. Remove all toiletries (shampoo, toothpaste, toothbrushes, prescription medication, etc) from the bathrooms. Stowe countertop kitchen appliances in cabinets. Make sure there is plenty of light by opening up all the draperies and blinds. Hang up clean, fresh towels in the bathroom. Remove trip hazards, such as cords and throw rugs, including bath mats.

Offering goodies to eat always sets a nice tone for potential buyers of your Northern Virginia/South Carolina home. The smell of freshly baked cookies brings sets a "homey" atmosphere for buyers as well. You can always buy the ready to bake ones at the store for a simple "no fuss, no muss" treat. Freshly brewed coffee is another inviting smell. Make sure you leave a note for your guests to help themselves.

Most importantly of all, just before the open house is set to begin...get out! Go take a long walk. Visit with friends or family. Spend some time at the park. Take in a movie. Buyers aren't comfortable when the owner of the home is there while they are checking it out. The goal of an open house is to show a potential buyer that this could be their home. If they aren't comfortable, they won't want to put in an offer.

With a bit of planning and some elbow grease, you can make your Northern Virginia/South Carolina open house run as smoothly and stress-free as possible. Knowing what to do to prepare for an open house certainly helps. If you need any assistance, please don't hesitate to contact me. Together, we can get your home sold in no time!

Gene Mock, your Northern Virginia, South Carolina and Washington DC real estate specialist

Originally posted on my Northern Virginia homes real estate here: http://northernvirginiahomes.net/2012/04/19/what-to-do-to-prepare-for-an-open-house/.

How to Save Money to Buy a Home

2012-04-12T19:17:45Z

It seems like a simple concept: put money away to buy a Northern Virginia/South Carolina home. So, why does it seem so hard to do? According to financial guru Suze Orman, you should have at least 10-20% of the home's purchase price to put down in order not to find yourself financially strapped. There are programs out there to help you buy a Northern Virginia/South Carolina home even if you have less than 10%. But, with 20% down, for example, you won't have to pay the private mortgage insurance (PMI) required by mortgage companies when you borrow more than 80% of the price of a home. That can save you a decent amount of money. Not to mention that the more you put down, the less you have to borrow, which, in turn, makes your monthly mortgage payment less. So, how do you save money to buy a home? It is easier than you think.

First, make a budget. I know, I know. Nobody LIKES to make a budget. But it is incredibly important to get a real idea of what you take in, what you pay and what your actual debt load is BEFORE you purchase that Northern Virginia/South Carolina home. That way, you will know exactly what price range you can realistically afford. Be faithful in tracking expenses by keeping a daily log of every single purchase you make and bill you pay for a month. This will help you see where you spend your money on a daily basis and where you can afford to "trim the fat".

After you've worked out your new "saving for a home" budget, determine how much you can set aside every month for your "we're going to be homeowners" savings account. Many people find it easiest to create a completely separate savings account that is meant only for your downpayment. If your employer offers direct deposit, allocate a specific amount of your paycheck to be deposited into this special savings account. Psychologically speaking, if you don't ever see the money to begin with, you really won't miss it.

While saving for your Northern Virginia/South Carolina dream home, you don't necessarily have to live like a hermit. You can still enjoy movies, eating out and going places. You'll just need to reduce the amount you normally spend. For example, a typical family of four can easily spend around $100 to go to the movies, when you factor in the cost of the goodies you consume while there. Instead, rent a movie and buy microwave popcorn to enjoy while watching. Instead of going out to eat twice a week, cut it back to once and go out to lunch instead of dinner (much less expensive). Pack up your lunch and take it with you to work rather than paying to eat out. "Treat" yourself to a latte once a week instead of spending $5-$6 everyday.

These are just a few ideas to help get you started on saving money to buy your Northern Virginia/South Carolina home. It does take some focus to make your dreams of homeownership happen. But, boy are they worth it! Home prices haven't been this low in years (and they're starting to go up slightly), interest rates remain low and inventory is plentiful enough to find just what you're looking for. Just let me know when you're ready to make the next step by actually viewing homes for sale in the Northern Virginia/South Carolina area. I'll be happy to help.

Gene Mock, your Northern Virginia, South Carolina and Washington DC real estate specialist

Originally posted on my Northern Virginia homes real estate blog here: http://northernvirginiahomes.net/2012/04/12/how-to-save-money-to-buy-a-home/.

Preparing a Home Emergency Kit

2012-04-05T20:25:56Z

Boy Scouts aren't the only ones who should "be prepared". The tornadoes that recently ripped through the Dallas-Fort Worth area got me thinking about the possible disasters we can face at any time here in Northern Virginia/South Carolina. While we don't exactly live in tornado alley, there are plenty of other emergencies we may face while we think we are safely tucked away in our homes. Preparing a home emergency kit before a disaster strikes is always a smart idea.

Your emergency kit needs to be portable. In the stress of reacting to a fire or flood, for example, you need to be able to have everything you need in a central location that is easy to just grab and go as you flee your Northern Virginia/South Carolina home. A big duffel bag or simple suitcase is perfect for this. Keep it near the exit or at least within easy reach at all times.

Since it can take several days before you get situated after an emergency, the general rule of thumb is to keep at least a three day's supply of necessities in your emergency kit. Each kit should contain the following basics:

Water - 1 gallon/person/day. This will be used for drinking as well as basic sanitation needs. Double for children and don't forget the pets.
Food - Non-perishable (canned, boxed or MRE). If the cans aren't the "pop top" variety, make sure to include a hand operated can opener. You can also pack things like trail mix, cereal bars and other treats. Keep all food in animal-proof, airtight containers to keep critters out. Regularly go through your food rations before an emergency to rotate out the older food before it expires. You don't need to deal with food poisoning on top of an emergency situation.
First Aid - This includes a couple of pairs of protective gloves, bandages, gauze, antibiotic ointment, eye wash, thermometer, tweezers, pain reliever (aspirin or non-aspirin varieties), antacids (Tums, Pepto Bismol), tape and a laxative. The stress from the emergency coupled with a change in your regular diet can do a real number on your digestive system.
Flashlight With Batteries - These are the safer alternative to candles. Too many Northern Virginia/South Carolina homes have caught fire due to candles that have been left to burn on their own. If possible, get a flashlight that you can keep in a wall-mounted charger unit so that you know it is ready to just grab and go at a moment's notice. If not, keep extra batteries in your home emergency kit.
Sanitation/Hygiene Supplies - Travel-size bottles of shampoo, body wash, toothpaste and other hygiene products will fit nicely inside your emergency kit. Consider using dry shampoo so you don't have to waste precious water resources on cleaning your hair. Include toilet paper, moist towelettes, paper towels, garbage bags, plastic ties and feminine hygiene products (if needed).
Radio - For major disasters, the radio may be your only link to the world outside your Northern Virginia/South Carolina home. Hand-crank models can be found at army surplus stores. Yet another reason to keep extra batteries in your kit.
Miscellaneous - Help kids pass the time with some little toys, cards, jacks, story books, etc. Duct tape is good for almost anything. Portable whistles can help you signal for help better than your voice can.
Cash - Always keep about $100 in small bills available. It may be hard to get to an ATM right away.

If you have small children, keep extra sets of diapers, pull-up pants and formula in your kit. A few days supply of necessary prescription medication is important to include as well. You may want to throw a wrench in there so you can shut off the gas and/or water if necessary. Tailor your emergency kit to fit your family's specific needs. Preparing a home emergency kit before disaster strikes is good common sense for any Northern Virginia/South Carolina homeowner.

Gene Mock, your Northern Virginia, South Carolina and Washington DC real estate specialist

Originally posted on my Northern Virginia homes blog here: http://northernvirginiahomes.net/2012/04/05/preparing-a-home-emergency-kit/.

Guideline for Home Office Deductions

2012-03-29T18:16:42Z

The ever-changing landscape of the American job market is such that many people in the workforce have now begun working, partially and full-time, from their Northern Virginia/South Carolina homes. Just like brick-and-mortar shops, home-based businesses also are allowed certain deductions come tax time. Whether you have a room dedicated solely to your business or simply use a desk in a corner of the kitchen to get your work done, work 40 hours a week or are a weekend warrior, as long as you operate a legitimate business, you may be eligible for deductions on your income taxes. The following is a guideline for home office deductions:

What Qualifies as a Home Office?
A home office must be a specific area in your Northern Virginia/South Carolina home that is dedicated solely for business. If you communicate with clients, conduct your everyday business affairs or even store product, it may qualify as a home office. Also, if your employer requires you to do work from home, your home office may also qualify. However, just because you feel overwhelmed at work and bring it home to try to "catch up" doesn't mean you have a "home office". Always check with your tax adviser first to verify that what you have can legitimately claimed as a home office.

Home Office Size as Percentage of Home Used
To determine what amount of your Northern Virginia/South Carolina home expenses can be deducted for your home office when using an area inside of your home, you must first determine the size of your home office in relation to the total square footage of your house. That means measuring the area of the room or dedicated work space and dividing it the total square footage of your home. For example, if you live in a 2,000 square foot home and the room you use as dedicated office space is 150 square feet in size, the percentage of your Northern Virginia/South Carolina used solely for office space is 7.5%. If you are unsure of your home's total square footage, consult your original home loan documents or property tax information. If you've converted your garage into an office, this home percentage rule doesn't apply. Again, speak with your tax adviser to find out how to determine home office deductions for a separate structure.

What Home Expenses are Deductible?
After you've determined what percentage of your Northern Virginia/South Carolina home is used for actual business, you can calculate your deductions for typical homeowner expenses, such as mortgage, electricity, gas, internet (if applicable), phone, real estate taxes, homeowners insurance and home repairs. Renters can also follow the same guidelines. However, most states require that you have authorization from your landlord to use the property for business purposes before you can claim any home office deductions.

This information is only meant as a guideline for home office deductions. Since I am not a tax consultant, adviser or CPA, please be sure to talk to your tax professional before filing your taxes to get the most accurate and current information available. Working from home has become a way of life for many Northern Virginia/South Carolina homeowners. Why not take advantage of any tax benefits you may receive from it? Remember, the deadline to file your taxes this year is Tuesday, April 15, 2012.

Gene Mock, your Northern Virginia, South Carolina and Washington DC real estate specialist

Originally posted on my Northern Virginia Homes real estate blog here: http://northernvirginiahomes.net/2012/03/29/guideline-for-home-office-deductions/.

Top 6 Ways to Get Your Offer Accepted

2012-03-22T19:36:45Z

When you find the perfect Northern Virginia/South Carolina home, you want to move on it as quickly as possible. Just like curb appeal, your offer is your only chance to make a first impression on the seller. You need to make sure your offer is as serious as you are if you really want the home. The following are the top six ways to get your offer accepted by a Northern Virginia/South Carolina seller:

#1 - Keep it clean. Asking for extras like making the seller pay for closing costs, lender fees, a home warranty or other things may turn the seller off of your offer. They may move on to another Northern Virginia/South Carolina buyer who is asking for a lot less, making for an easier transaction for them.

#2 - Tailor your offer to the seller's needs. Ask your agent to talk to the seller's agent to find out what is important to the seller (ie, they need a particular price, they want to close in a certain period of time, etc). Then, your Northern Virginia/South Carolina agent can help you craft your offer in terms of meeting the seller's requirements, making your offer look much more attractive.

#3 - Increase your earnest deposit. Typically, your earnest deposit (money put into an account to show good faith) is 1% of the purchase price. Consider offering more than that to show you are both serious and financially stable enough to afford the Northern Virginia/South Carolina house in question.

#4 - Bigger down payment. Instead of putting the minimum amount down on your Northern Virginia/South Carolina home loan, put more down. For example, a typical FHA loan requires 3.5% as down payment. Put 5% down instead. Like the earnest deposit, this will show that you are both serious and financially sound.

#5 - Add an "escalation clause" to your offer. This is when you offer to pay a certain amount over what the next highest bidder offers up to a specific amount. For example, you decide that the most you are willing to pay on your Northern Virginia/South Carolina home is $300,000. Instead of offering $300,000 flat out, you add a clause in your offer that says you are willing to pay $500 over the next highest offer up to $299,999. If the highest bid the seller receives is $275,000, the escalation clause then makes your offer to be $275,500. Your real estate agent should talk to their broker to find out what legal language to use to write up the escalation clause. Always make sure to get a copy of the next highest bid from the seller before you enter into a sales contract to verify that what they said was the next highest offer is truly what the next highest offer was.

#6 - Buy the home "as is". This doesn't mean that you can't get an inspection on the Northern Virginia/South Carolina home before buying it or that you are legally bound to purchase it even after an inspection raises questions on possible expensive repairs. In fact, I still highly recommend getting an inspection. Making an offer on the home "as is" means that you won't hold the seller responsible for, let's say, replacing carpets, re-roofing or anything else that can delay a sale and cost the seller more money.

Crafting the perfect offer and getting it accepted is just another step in Northern Virginia/South Carolina homeownership that is unavoidable. Keep these top six ways to get your offer accepted will help you realize your piece of the American dream. Let me know how I can help.

Gene Mock, your Northern Virginia, South Carolina and Washington DC real estate specialist

Originally posted on my Northern Virginia homes blog here: http://northernvirginiahomes.net/2012/03/22/top-6-ways-to-get-your-offer-accepted/.

Avoiding Common Seller Mistakes

2012-03-15T19:33:14Z

Several years ago, homes seemed to sell themselves. Sometimes, a property could be listed and sold in the same day. However, that's not the way it is in today's real estate market. Selling your Northern Virginia/South Carolina home can be stressful under the best of situations. But it doesn't have to be. Especially if you avoid some of these common seller mistakes.

Not Cleaning Up - Think of selling your Northern Virginia/South Carolina home as a job interview. Buyers are your potential boss. You would never think of interviewing for a white collar position in a pair of ripped blue jeans, a stained shirt and flip flops, would you? First impressions really do matter, especially when it comes time to sell a home. Pick up and put away the toys, put dirty clothes in the hamper, put clean clothes away, clear the sink of dirty dishes and throw out the trash.

Staying During a Showing - It's natural to be curious about what potential buyers think of your Northern Virginia/South Carolina home. However, you could actually hurt a sale by sticking around. Buyers like to take their time to truly investigate a property. They want to feel free to discuss what they think about it without having the owner standing over them. A showing is the perfect time to take the dog for a nice long walk, visit with neighbors, catch a movie or run some errands. Your REALTOR® will catch you up to speed once the buyers have gone.

Going the "For Sale by Owner" Route - Yes, Northern Virginia/South Carolina homes can be sold by homeowners themselves. However, even seasoned professionals will tell you that trying to handle everything (from advertising to scheduling showings and juggling paperwork to handling negotiations) is a lot to take on. Hiring a knowledgeable REALTOR® who understands the local real estate market is well worth the fee. In many ways, they can actually save you money and they certainly save you the stress of trying to sell your home by yourself.

Forgoing an Agent Interview - Chances are, when you hired a babysitter, you interviewed several people to find the right individual. At the very least, you asked for recommendations from other people you trusted about who they have used in the past. The same goes for your REALTOR®. Talk to a few different Northern Virginia/South Carolina real estate professionals to find one that will fit your needs and personality. You will be working very closely over the next couple of months. So, hiring someone you are comfortable with and who has the skills, knowledge and experience you need is important.

Unrealistic Pricing - I can't stress this enough. Don't price your Northern Virginia/South Carolina home according to what you "think" it should cost. This isn't personal. Setting your sales price too high means that it will sit on the market far too long while other houses around it are snatched right up. In order to sell your home, you will eventually need to lower your price. In a buyer's mind, when your home has been on the market for a while and you have lowered your price once or twice, they believe you may be so desperate to sell that they can come in with a much lower offer than if you had priced it competitively to begin with. Talk to your REALTOR® about what homes in the area have sold for recently, what they are priced at/selling for now, how long it has taken for them to sell and how the market looks to be going in the next few months. This is yet another reason hiring a professional instead of trying to sell it yourself can make such a difference.

Avoiding common seller mistakes can mean the difference between selling your Northern Virginia/South Carolina home quickly and moving on or having to endure a long, drawn-out, stressful sales process. The choice is yours. When you're ready to put your home on the market, contact me. I can definitely help you experience as smooth of a real estate transaction as possible.

Gene Mock, your Northern Virginia, South Carolina and Washington DC real estate specialist

Originally posted on my Northern Virginia real estate blog here: http://northernvirginiahomes.net/2012/03/15/avoiding-common-seller-mistakes/.

whenWhat to Expect When Inspecting

2012-03-08T20:55:51Z

A home inspection is a very important part of the Northern Virginia/South Carolina home buying process. Before you make one of the biggest financial decisions of your life, you want to make sure that you're investing in a good piece of property, not sinking your savings into a money pit. While you definitely need a professional's opinion (via a licensed home inspector), there are some things you should look at for yourself beforehand. Here's a list of areas you should personally view so you know what to expect when inspecting:

Mold/Water Damage - Water is one of the fundamental keys to life. In fact, 70% of the surface of the earth is covered with water. And, while you can go more than a week without food, your body needs water every single day (which isn't surprising when you consider that the human body is composed of approximately two-thirds water). But water needs to be confined to either the outside of your Northern Virginia/South Carolina home or inside its plumbing. Water stains on the ceilings, moisture buildup near faucets and mold anywhere in the house can be a sign that a water leak is or has been occurring somewhere in the home. This can be a costly fix.

Insulation - If the Northern Virginia/South Carolina home you are looking at has an attic, visit it. Proper insulation means the house stays cooler in the summer and warmer in the winter. Ask the current homeowner what they pay seasonally for their utilities to better gauge the effectiveness of the home's insulation as well as prepare yourself for what to expect to pay throughout the year to heat and cool it.

Appliances - Typically, the home's appliances are part of the purchase price. So, take a close look at their condition and age. Newer, more energy efficient models are easier on the pocketbook then older models. If the home has a refrigerator, stove, dishwasher, water heater, washer or dryer that is older than 10 years, you will most likely want and need to replace it.

Outside - Don't forget to look outside of the Northern Virginia/South Carolina house. Cracks in the walls or around the windows and doors could indicate a potential problem with the foundation. All homes settle over time, but these cracks could be a possible red flag for an expensive repair. Also, make sure all large trees are planted away from the home. Root systems tend to spread out as trees grow. Larger root systems have been known to lift an entire house off its foundation. They can also burrow into your home's water system if too close to underground pipes.

Neighborhood - After you've looked for water leaks, checked the state of the insulation, inspected the appliances and viewed the exterior, take a look around at the other Northern Virginia/South Carolina homes in the neighborhood. They were most likely constructed around the same time as the home you're looking at and, quite possibly, by the same construction company. How do they look? Are the owners taking care of their homes and properties? What's the noise like? Visiting the neighborhood at various times of the day and days of the week can help you better gauge what the neighborhood's regular routine will be when you live there.

Knowing what to expect when inspecting means being proactive in the Northern Virginia/South Carolina home buying process. Performing your own pre-inspection will help you focus better on your professional home inspector's report. Make a list of the possible problems you noted on your preview so you can ask your inspector about them later. What you thought might be an issue may actually turn out not to be a big deal after all.

Gene Mock, your Northern Virginia, South Carolina and Washington DC real estate specialist

Originally posted on my Northern Virginia Homes real estate blog here: http://northernvirginiahomes.net/2012/03/08/what-to-expect-when-inspecting/.

Washington DC Area is Top City for Job Growth

2012-03-02T18:44:18Z

According to the Bureau of Labor Statistics (BLS), the Washington DC area is the top city for job growth through the end of the decade (2020). Throughout the country, employment levels are expected to rise 14.3%, which translates to 20.5 million new jobs. The Washington DC area ranked #1 out of the 100 large metro areas surveyed by the BLS.

The Bureau of Labor Statistics focused on five key factors to determine job growth possibilities: labor force as it relates to the macroeconomy, industry employment, occupational employment, education/training and replacement needs. With population growth expected to slow down and more people hitting retirement age, the civilian labor force is expected to slow down as well. Even with the slow down in labor force, a 0.7% increase is still expected by 2020, which means 10.5 million jobs. The health care and social assistance industries are expected to experience the highest rate of growth, followed by the professional and business sectors. That's what makes Washington DC get high marks.

The complete list for the top 10 metro areas with the highest potential for job growth until 2020, according to the Bureau of Labor Statistics, are:

Washington DC/Arlington/Alexandria, VA/MD/WV
Bethesda/Rockville/Frederick, MD
Colorado Springs, CO
New York/White Plains/Wayne, NY/NJ
El Paso, TX
Springfield, MA
Baton Rouge, LA
Tacoma, WA
Baltimore/Towson, MD
San Antonio/New Braunfels, TX

To read the complete Bureau of Labor Statistics' report, please visit their website. If you're interested in setting down roots in an area you know will have the best potential for solid employment, contact me today. The Washington DC area is the top city for potential job growth for the next eight years. Get a great deal on a Northern Virginia property now.

Gene Mock, your Northern Virginia, South Carolina and Washington DC real estate specialist

Originally posted on my Northern Virginia Homes real estate blog here: http://northernvirginiahomes.net/2012/03/02/washington-dc-area-is-top-city-for-job-growth/.

2011 Energy Efficiency Upgrade Tax Credits

2012-02-23T19:03:56Z

Did you replace an old energy zapping item in your Northern Virginia/South Carolina home with a newer, energy-efficient model? You may be eligible for up to $500 in tax credits. Unlike a deduction, which only lowers your taxable income, a tax credit actually reduces your tax owed. Since tax day is right around the corner (this year, it has been extended to Tuesday, April 17, 2012), I thought you might want to know what energy efficiency upgrades might make you eligible for a credit on your 2011 taxes:

Biomass Stoves - Credit: $300. Must have a thermal efficiency rating of 75% or higher.
Heating, Ventilation and Air Conditioning Units/Systems (HVAC) - Credit: $50-$300 for an advanced main air circulating fan ($50), gas propane or hot water boiler ($150), natural gas, propane or oil furnace ($150), air source heat pump ($300) or central air conditioning unit ($300). Requirements for qualifying vary for each unit installed in your Northern Virginia/South Carolina home.
Insulation - Credit: 10% of cost (max of $500). Does not include cost of installation.
Roofing (Metal and Asphalt) - Credit: 10% of cost (max of $500). Does not include cost of installation. Pigmented metal roofs and cooling granule asphalt roofs that meet EnergyStar requirements may qualify.
Water Heaters (Non-Solar) - Credit: $300. Gas, oil or propane water heaters must have an energy factor rating of less than or equal to 0.82 or a thermal efficiency rating of 90% or higher. Electric heat pump water heaters must account for no more than 25% of your Northern Virginia/South Carolina home's total energy consumption
Windows, Skylights & Doors - Credit: 10% of the cost (max of $500 for doors and $300 for windows). Does not include cost of installation. Must be EnergyStar rated. You don't have to replace all the windows in your home to qualify. Installing a new window, door or skylight where there wasn't one before may also qualify.

To be eligible for the 2011 energy efficiency upgrade tax credits, you must have replaced these items on an existing home that is your primary residence by December 31, 2011. Neither newly constructed Northern Virginia/South Carolina homes nor rentals qualify. You must file the IRS Form 5695 (Residential Energy Credits) along with your 2011 taxes and submit by April 17, 2012. The amount of your tax credit calculated on IRS Form 5695 should be entered on line 52 of your 1040 form. Make sure you keep all your receipts as well as the Manufacturer's Certification Statement for each item claimed on your 5695 form for your records.

This post is meant for informational purposes only. Always consult your tax professional first.

Gene Mock, your Northern Virginia, South Carolina and Washington DC real estate specialist

Originally posted on my Northern Virginia Homes real estate blog here: http://northernvirginiahomes.net/2012/02/23/2011-energy-efficiency-upgrade-tax-credits/.

Revive a Room in a Weekend

2012-02-16T21:02:29Z

Does one of the rooms in your Northern Virginia/South Carolina home still seem dark even after you've turned the lights on? It could be that the paint on your walls has faded and simply needs a "pick-me-up". Not everyone has it in their budgets to hire a professional to get the job done, though. Don't worry. You can revive a room in a weekend all by yourself with these handy tips:

Clearing and Cleaning - Take down all your photos, remove knick-knacks from shelves and move all furniture away from the walls. Caulk any holes or cracks you see. A smooth surface will make for a smooth finish. If you find light mildew growing on the walls, mix together 1 part bleach/3 parts water and scrub the area. This won't work on black mold, so don't try it. And definitely don't paint over black mold. Instead, call in a mold specialist to take care of it. After you've gotten rid of the mildew, clean the walls with warm, soapy water to get rid of any dust particles or other debris buildup.

Preparation - Use cardboard, plastic sheeting or old bed linens to protect your Northern Virginia/South Carolina floors from errant paint splatters that inevitably happen, even when you are careful. One of the most important elements in prepping a room to paint is taping. This can also be the most time-consuming. Blue painters tape should be used anywhere you need to have a clean edge (around trim, windows, baseboards, crown moulding and ventilation ducts). Even though this step can take longer than the actual painting itself, it is well worth it to have a professional-looking paint job when you're through.

Using the Right Tools - The kind of brush you use depends on the kind of paint you are using. Talk to your paint specialist at the hardware, home improvement or paint store to see which ones work best. Rollers are best on big areas, but you'll still need the brushes for more precise edge work. To achieve a professional line around the edges, consider purchasing an edger. This tool keeps the line straight when you're trying to paint near the ceiling, around a door frame or anywhere else there is a straight edge that you don't want your paint to cross.

Painting - Keep the area well ventilated. Open all the windows and doors in your Northern Virginia/South Carolina room to allow for good cross ventilation. Pregnant women should avoid the area, as paint fumes can be harmful to both mother and baby. If you want, you can always opt to use Zero VOC (Volatile Organic Compound) paint. It is better for the environment and easier on the sinuses. Don't paint on days where the temperatures are 35 degrees Fahrenheit or lower.

It doesn't take a ton of money or weeks on end to give your home a makeover. Revive a room in a weekend with a nice fresh coat of paint. Whether you intend to sell your Northern Virginia/South Carolina home in the next few months of simply need to brighten the area, painting your walls is bound to breathe new life into your home.

Gene Mock, your Northern Virginia, South Carolina and Washington DC real estate specialist

Originally posted on my Northern Virginia Homes blog here: http://northernvirginiahomes.net/2012/02/16/revive-a-room-in-a-weekend/.

The Art of Negotiation

2012-02-09T20:14:11Z

When buying a Northern Virginia/South Carolina home, the art of negotiation comes into play in a serious way. Setting up a plan with your real estate agent ahead of time can help alleviate some of the stress involved in the home buying process. While your agent will do their upmost to get you the best price on your dream Northern Virginia/South Carolina home, it will ultimately be up to you as the buyer to decide whether that is a good deal or not. Here are a few tips to set yourself up for negotiating the best price when buying a home.

Get pre-approved. Pre-qualification is good, but pre-approval shows the seller that you are both serious and ready to buy that Northern Virginia/South Carolina house now. With a letter of credit from your loan company, you can provide a seller the relief of knowing that your loan won't fall out at the last minute, leaving them to scramble to find another buyer.

Decide the most you're willing to pay for that Northern Virginia/South Carolina home and work backwards to decide your opening offer. The old adage "you only get one chance to make a first impression" applies to your initial offer. Low balling may insult the seller, turning them off to any further negotiations. On the flip side, offering too much could mean you are overpaying for a property. Discuss what other homes in the area are going for with your agent so they can help you decide what your best opening offer should be. Don't let things like multiple offers force you to go beyond your financial comfort level.

Keep contingencies to a minimum. Adding conditions to an offer (such as "contingent upon sale of buyer's current home") can be a little off-putting to the seller. However, requiring a sale be contingent upon the results of a home and/or environmental inspection of issues that are typical of your area as well as mortgage approval (which can be avoided if you are already pre-approved) is simply smart.

When you don't understand something, ask questions. The only stupid question is one that is not asked. Buying a Northern Virginia/South Carolina home is a huge financial responsibility and one that should not be taken lightly. This may be the most expensive decision you make in your lifetime. Don't be afraid to ask to clarify anything you are not completely sure of. And, for goodness sakes, never sign any document you have not read and understand thoroughly.

The art of negotiation is a skill great real estate agents possess. It is also a skill that you can cultivate when buying a Northern Virginia/South Carolina home. When you're ready to release your inner "artiste", simply let me know. I'd be happy to guide you into the joys of homeownership.

Gene Mock, your Northern Virginia, South Carolina and Washington DC real estate specialist

Originally posted on my Northern Virginia Homes real estate blog here: http://northernvirginiahomes.net/2012/02/09/the-art-of-negotiation/.

Identifying a Credit Repair Scam

2012-02-02T20:14:16Z

Your credit score is a major factor when purchasing a Northern Virginia/South Carolina home. In fact, Freddie Mac and Fannie Mae won't even consider any applicant with a credit score below 620. Most people don't have excellent credit. That's why there is such a proliferation of credit repair companies out there. You've probably heard their spiel promising that they can get you top rate credit for a fee. Not all of these are reputable companies, though. You need to know how to identify a credit repair scam.

If the following promises or requirements are made by a credit repair agency, consider these red flags because they may be a credit repair scam:

Makes you pay up front. The Credit Repair Organizations Act mandates that credit repair agencies cannot receive any compensation until after they have completed all services promised to their client.
Promises you that they can remove ALL negative credit items whether they are accurate or not. This is illegal. Only information that has been mistakenly reported to the credit agencies can be removed. If it is a true negative credit item, there is nothing you can do about it. Only time and making responsible, positive steps in maintaining your credit will compensate for a negative credit history.
Suggests you dispute any and all negative information on your credit report, even if it's correct. Again, only wrongly reported items can be legally removed from your credit report.
Tells you not to contact Experian, TransUnion or Equifax yourself.
Won't advise you on what you can do for free yourself to improve your credit or let you know what your rights are as a consumer in regards to repairing your credit.
Suggests that you create a whole new credit history by applying for and then using an Employer Identification Number (EIN) to use in place of your Social Security number.

You will be held legally responsible for any fraud or illegal activity you participate in either directly or through an irreputable company. This includes filing false documents (saying something is wrong when it isn't), applying for an EIN under false pretenses and providing false information on a credit application through the mail, phone or internet. That's why it's important to identify a credit repair scam so you can avoid finding yourself in illegal hot water. It's smart to get your credit in order before you apply for a Northern Virginia/South Carolina home, but you need to do it in a legal manner.

Gene Mock, your Northern Virginia, South Carolina and Washington DC real estate specialist

Originally posted on my Northern Virginia homes blog here: http://northernvirginiahomes.net/2012/02/02/identifying-a-credit-repair-scam/.