SHORT SALE VS FORECLOSURE

If you are having to decide whether to Short Sell or let the bank Foreclose on your home, it’s pretty obvious that times are tough. You’re having to make some big decisions that will affect your future for a significant amount of time. Making the right choice for yourself and your situation will be key. The best place to start in knowing what is right for you is to understanding the difference between a short sale and a foreclosure.

SaleSHORT SALE
To keep it simple, it means the act of selling short. In real estate terms it means that the borrower owes the lender more money for a property then they are able to get by selling it to the open market. For example, say you owe $300,000.00 for your property but the market says the property is only worth $250,000.00. This means you would be “short” $50,000.00 that you owe. Unless you have that amount laying around and are willing to pay the bank the $50,000.00 that you are short, then you are going to need to ask the lender if they are willing to allow you to sell your property as a “short sale” and forgive you the $50,000.00, plus closing cost that you owe.

Sale JSrealty4uFORECLOSURE
This is the process of taking possession of a mortgaged property as a result of the mortgagor’s failure to keep up mortgage payments. If you can’t make your payments, the bank has come to take back the property to foreclose on it. This will mean you need a new place to live – more than likely sooner than later. Typically a big life event or change is in process, and this situation is not ideal.

So how does a short sale or foreclosure affect you long term, and what does it mean with regards to home ownership and credit in the near future? What about long term?

Below is a chart that shows the “basics” of the amount of time either of these options could affect you. Lending rules change regularly and everyone’s situation is different, so for exact information about how either of these may affect you, we recommend consulting with not only your realtor, but a lender too.

JS Realty Short Sale Years Chart

All in all, you really don’t want to have to face either of these situations, but as we all know, life happens. So, if you find yourself in a tough situation, it is key to contact a Realtor immediately and ask for some direct guidance on how to navigate what lies ahead.

The JS Realty Team specializes in short sales and we have a proven track record of success! If you or someone you know needs help, contact us! We are happy to help in any way that we can.

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The JS Realty Team – not only serving Brambleton, serving all of Northern Virginia

NEW LISTING IN CENTREVILLE VIRGINIA

JS Realty - 6068 Billingsgate - Front of HomeThe JS Realty Team is please to introduce you to our newest listing!
6068 Billingsgate Lane is located in the heart of Centreville, VA in the London Towne West Community. This townhome is filled with natural light and is a commuters dream! Just minutes from I-66, Routes 28, 29, & 50 and a short drive to shopping, restaurant & entertainment. It’s an easy walk to the London Towne Elementary School and Centreville’s Cub Run Trail System. 

JS Realty - 6068 Billingsgate - Kitchen 2Hardwood floors can be found throughout the main level. The kitchen features granite counter tops, plenty of cabinet space, and a custom backsplash. Recessed lighting and a breakfast bar complete this beautifully updated kitchen.

For Sale Centreville JSRealty4uSpacious family room has large windows that let in tons of natural light. The dining room boasts designer lighting and access to the fenced-in backyard.

Inside the Master bedroom is a huge closet, with a dual-entry Master Bathroom. 2nd bedroom features a large closet while the 3rd bedroom offers private access to a full bathroom.

The large Rec Room & Den are perfect for family movie night! A full bathroom and huge laundry room with shelving and extra storage can also be found on this level.

Don’t miss out on this charming townhome in Centreville, VA! Call us today at 703-475-1003 for a private tour!

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The JS Realty Team – not only serving Brambleton, serving all of Northern Virginia.

SELLING YOUR HOME FOR TOP DOLLAR

One of the questions Sellers ask us when placing their home on the market is, “How much are we going to sell my house for?” Naturally, all Sellers want their home to sell for the most money possible. That’s a great goal to have, and the JS Realty Team @ Samson Properties has some great tips on how to accomplish that goal.

5 Ways to Get Top Dollar For Your Home:

HIRE AN EXPERIENCED LISTING AGENT
Meeting Realtor ContractsThis is arguably the single most important step. Your Agent needs to know the market and neighborhood very well. You’ll want to hire an Agent with a lot of experience, but in this industry, experience doesn’t equal years in business. What you want to look for is the number of transactions. Finding an Agent that has sold a lot of homes shows you that the agent is successful in selling homes and knows how to negotiate for you. Transaction Experience is the best way for an Agent to learn negotiating skills. Your Agent should also have an extensive marketing plan that includes professional photos, a virtual tour, social media platforms, and a strong web presence. Another important element of a strong listing Agent is monitoring feedback and communicating with you – the Seller.

PRICE YOUR HOME CORRECTLYJS Realty empty pocket shortIf you over price your home, you will reduce the number of showings with qualified, serious buyers – because they will know the neighborhood and market. Serious Buyers will have been tracking your neighborhood and today’s Buyers are in tune with the market value. We have heard Sellers say “Let’s just try this price and see what happens”. That strategy does not work well because the first two weeks the home is on the market is when the most buzz and excitement for the new listing is happening. If the Seller has overpriced the home, Buyers will look elsewhere and your listing will lose out on the initial enthusiasm. If the Seller stays overpriced for too long, then the listing becomes “stale” and that tends to encourage low ball offers.

GET YOUR HOME IN SHAPE
JS Realty Rent Sell Landscape HomeThe old adage “you never get a second chance to make a first impression” is very apropos when selling your home. Make sure the front yard, front door, and surrounding area is in top condition. As the Buyer approaches your home and are waiting to get in, they are feeling their first impressions, so make it shine! If you are going to upgrade, concentrate on kitchens, baths, floors, and walls. These will give you the most bang for your buck. Inexpensive fixes like paint, replacing old drapes, replacing door handles, kitchen and bath hardware, light fixtures, and leaky, rusty faucets can go a long way on a tight budget. For more ideas on sprucing up your home check out last week’s blog!

HAVE AN OPEN DOOR
JS Realty calendar close upIt seems like everyone these days has a crazy, busy schedule. It can be difficult, but if you make your home available for showings and try not to limit the showing times, that can go a long way towards finding the right Buyer and the right price! The key to getting a great contract is to have as many people as possible seeing your home. If you miss out on a Buyer because of restricted showing times, you could have missed your best offer.

CONTACT THE JS REALTY TEAM @ SAMSON PROPERTIES
JS Realty Samson Team Real Estate RealtorsWith over $200 million in sales, the JS Realty Team @ Samson Properties has the transaction experience, market knowledge and marketing program to help you achieve the goal of selling your home for top dollar. Our web strategy and social media campaign have helped hundreds of Sellers maximize their homes value.

Contact us today! We would be more than happy to show you our program for selling homes.

JS Realty Free Analysis Contact UsThe JS Realty Team – not only serving Brambleton, serving all of Northern Virginia

 

Preparing Your Home For Sale

Our Top 4 Helpful Tips on Preparing Your Home For Sale

If you are thinking about selling your home in the near future (or if it’s just been listed) here are the JS Realty Team’s 4 Tips on Preparing Your Home For Sale! By implementing these 4 helpful suggestions, you can maximize top dollar from the Buyers out there! Because let’s face it, the better the house looks and “feels”, the sooner you will attract a Buyer who wants to make your home their own. The key words here is that they want to make it their own. So… where do you start?

#1 – DEPERSONALIZE YOUR HOME

preparing staging before afterWhat does it mean to “depersonalize” your home? It means making it look as neutral and clutter free as humanly possible. Start by removing any and all personal photography. We know you & your family look great and that picture above the mantel is AMAZING, but a potential Buyer does not really care how cute your kids are, and in fact, it may be a distraction. So go ahead and pack up ALL of your personal pictures. If you have a wall of family photos, that needs to come down too. Consider replacing the images with a large, neutral art piece. Another quicker, easier option is just patching the nail holes and repainting the wall.

Personal effects… if you have a large collection of something (say frogs, for instance) pick your favorite frog item to leave out and then – pack the rest. Trust us, the Buyers won’t be interested in them. And don’t forget to remove graduation or other certificates, awards, and trophies. Having those items displayed is not a bad thing, it’s just not the best way to quickly attract a great Buyer and optimize your potential for top dollar. This is why we ask you to remove these personal items when you’re preparing your home for sale.

#2 – HAVE A PAINTING PARTY

jsrealty4u preparing staging home for saleNow that you have depersonalized the home, look around at the paint.  One of our favorite ways to make a home feel like home, is to add some color to the walls! However, preparing your home for sale is the time to turn your home into a “blank canvas”. Take a quick peek at our previous blog about painting the home, it offers tips on where to start and what colors are best to use. Neutralizing your homes color is the next step in creating an experience for the Buyer. While they are viewing your home, we want them to imagine their couch, their rug, and their paintings in your home. The easiest way to start this experience for them is by depersonalizing the home and creating a neutral color scheme.

#3 – USE SOME ELBOW GREASE

jsrealty4u preparing staging home for saleThe single most important thing you can do is CLEAN! Then clean, clean, and clean again. Give your house a FULL cleaning – meaning top to bottom. Pay special attention to bathrooms, the kitchen and appliances, the pantry and the refrigerator – inside, underneath, and behind! Cleaning the windows of your home makes a remarkable difference, as well. And if you have screens on the windows, consider removing them and placing them in a safe spot. You would be surprised how bright your home looks with clean windows and no screens.

Don’t forget the floors! A good carpet cleaning goes a long way, too. If you have hardwood floors, consider waxing them. Once you have cleaned, it will be most important to do your best to keep it that way, since Buyers love a clean house. A dirty home is a distraction and immediately has the Buyer devaluing your home. Make sure it smells good, but try not use too many scents or candles. First impressions make a lasting impression! Don’t forget to tidy up the yard and feel free to give it a pop of color with a few seasonal flowers.

#4 – PATCH IT UP

jsrealty4u preparing staging home for saleWalk around the house and repair any of those little nagging items that have been bugging you – a loose toilet seat, the stopper in the bathroom that doesn’t shut, etc. And remember to check and make sure that every single light bulb in the house is working – even the one in the oven!

We have additional tips on staging and packing that we are happy to share with you the further along in the selling process we get. The bottom line here is, set a schedule and plan ahead because preparing your home for sale can take time. We want you to have The Ultimate Selling Experience, and following these helpful suggestions goes along way towards ensuring you get top dollar for your home!

If you’re thinking of buying or selling a home, contact us today. We’d love to sit down and talk to you about all of the possibilities the current market has to offer!

 

NEW LISTING IN ASHBURN VIRGINIA

JS Realty - Tholen - Front ExteriorThe JS Realty Team recently listed this gorgeous town home in Ashburn, Virginia and it’s a MUST SEE! Located at 20393 Tholen Street in Ashburn, this town home boasts tons of windows and a Surround Sound System throughout! Just steps from the community pool & tennis court, this home is also close to Routes 7, 15, & 28, the Dulles Greenway, and Wasington-Dulles International Airport.

10-foot ceilings are located throughout the main level, along with gorgeous tile and laminate wood flooring and crown molding. The kitchen has custom granite counter tops & backsplash, an over sized granite island, and pantry. Ashburn For SaleThere’s also a custom wine cellar that was cleverly hidden beneath the staircase.

The family room features a stone-surround gas fireplace, built in shelves, and access to the deck and the 2-car garage.

JS Realty - Tholen - Master BathUpstairs, the Master bedroom has 2 walk-in closets, and the en-suite bathroom features a Jacuzzi tub and walk-in shower. The 2 additional bedrooms have walk-in closets.  A laundry room and den can also be found upstairs, along with a loft that would make a great kids playroom!

This move-in ready home is just a short drive to shopping, dining, & entertainment at Ashburn’s new hot-spot, One Loudoun. Call us today at 703-475-1003 for a private tour!

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NEW LISTING IN FAIRFAX VIRGINIA

Penderbrook FairfaxFOR SALE and available now! This 2 Bedroom, 1 Bath condo is located at 12159 Penderview Terrace #934 in Fairfax, Virginia. The highly sought-after Fairfax community of Penderbrook includes tons of amenities such as a golf course, multiple pools, clubhouses, fitness centers, and more!

This home is a commuter’s DREAM – located close to Routes 28, 29, & 50, I-66, Fairfax County Parkway, Washington-Dulles International Airport, and is on a bus line serving the metro. Just minutes from shopping, dining, and entertainment at the Fair Oaks Mall, Fair Lakes Shopping Center, and the Fairfax Towne Center!

Penderbrook FairfaxLarge windows fill the condo with natural light. A newly updated kitchen with a hardwood floors and a breakfast bar are just off the spacious living room. Vaulted ceilings and built-in shelving can be found in conjunction with a wood burning fireplace. A huge walk-in closet can be found in the Master bedroom, and the dual-entry Master bathroom boasts an oversized vanity and access to the washer & dryer. The ample 2nd bedroom features a sliding glass door that leads to a private balcony.

Give us a call today at 703-475-1003 and set up a private tour of this beautiful condo and community in Fairfax!

JS Realty Free Analysis Contact UsThe JS Realty Team – not only serving Brambleton, serving all of Northern Virginia.

 

GATED COMMUNITIES IN LOUDOUN

Loudoun County offers a wide variety of gated communities. Whether you’re looking for a condo priced around $200,000 or a multi- million dollar home on 6 acres, Loudoun County has you covered. The JS Realty Team @ Samson Properties has the knowledge and experience to help our clients buy or sell in all of these gated communities.

JS Realty Gated Comm Belmont entranceBELMONT in Ashburn is a magnificent gated community offering condos from around $200,000 up to million dollar estate homes. Belmont also offers a wide variety of town homes. Featuring wonderful community amenities such as a championship golf club, clubhouse, pools, dining, tennis, fitness and much more! Learn more about the history and amenities by visiting their website.

JS Realty Gated Comm Creighton-Farms-ClubhouseCREIGHTON FARMS in Aldie, Virginia is an extraordinary custom home, gated community with a Jack Nicklaus Signature Golf Course. Crieghton Farms boasts 184 home sites sitting on 900 breathtaking acres. Owners can choose from 1+ acre custom villas or 3-7 acre custom estates. The wealth of amenities and activities make this a world–class neighborhood. An elegant 34,000 square foot American Vernacular-style Clubhouse houses and hosts many of the community members focused facilities and programs.

JS Realty Gated Comm ParksidePARKSIDE AT ASHBURN offers affordable townhomes in a gated community. Most of the luxury townhomes are 3-level homes with 2-car garages. Parkside offers a considerable amount of private greenspace for recreation areas, basketball court, walking areas and courtyards. In addition, the community offers a resort style pool with a clubhouse, fitness areas and children’s play areas. As an added bonus, Parkside is only a mile away from the future terminus of the Metro’s Silver Line!

JS Realty River Creek Main Gate Lower waterfallRIVER CREEK was the area’s first gated community. Situated near the Potomac River in Leesburg, River Creek also has a championship Golf Course owned by ClubCorp Network – which owns hundreds of golf courses across the United States. River Creek has 1,100 homes spread out through 20 neighborhoods covering 600 acres. About half the homes are single family homes with the other half compromising of town homes and patio homes. A Clubhouse, restaurant, tennis courts, and pools are just a few of the many amenities that River Creek offers. All types of families call River Creek their home, from empty-nesters to families with children, and everything in between.

Loudoun County is also home to 2 active adult retirement communities – Lansdowne Woods in Leesburg and Potomac Green in Ashburn.

Photo Credit: Bob Nakamura
Photo Credit: Bob Nakamura

Previously known as “Leisure World”, LANSDOWNE WOODS offers prestigious home ownership in one of 4 high-rise condo buildings or in one of their 3 low-rise buildings. Featuring resort-style living with ballrooms, fitness facilities, saunas, indoor swimming pool, hot tub, massages, rooftop tennis courts and much more!


JS Realty Gated Comm Potomac GreenPOTOMAC GREEN
 offers a range of condos with prices ranging from $216,000-$391,000. Plenty of activities abound with 29,000 square foot clubhouse, indoor & outdoor pools, tennis & bocce courts, walking & jogging trails, billards and game rooms, indoor walking track and over 25 clubs and committees to entertain everyone’s needs.

From a small 1 bedroom condo to a multi-million dollar estate, Loudoun County has a gated community to fit your needs! Feel free to contact us for information on available properties in one of the communities listed here. We can help you find the home of your dreams!

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The JS Realty Team – not only serving Brambleton, serving all of Northern Virginia.

NEW LISTING IN CENTREVILLE, VA

The JS Realty Team is pleased to announce its newest listing in Centreville, VA! This beautiful 6 bedroom, 3.5 bathroom home is situated on 5 acres in the Sully Estates.

Located at 14905 Cub Run Park Drive, this immaculate home is conveniently located near Routes 28 & 29, and I-66.

JS Realty Cub Run Park Drive - KitchenStone pathways lead to the front door, where once inside you’ll find beautiful hardwood flooring throughout most of the main level. A new gourmet kitchen awaits with marble flooring, a custom backsplash and gorgeous granite counters.

JS Realty Centreville ListingThree spacious bedrooms with carpeting and large closets can be found upstairs, along with an impressive Master Suite. Marble flooring and wainscoting can be found in the master bath, and includes an over-sized double vanity, 2-person Jacuzzi tub, and seamless glass shower. Two additional bedrooms and a full bath can be found in the finished basement.

TJS Realty Centreville Listinghe professionally landscaped yard includes designer lighting and the two car, attached, side loading garage is off the circular driveway. The 5 acre back yard features a large deck and is surrounded by mature trees.

Learn more about our listing in the video, or visit us online at JSRealty4U.com.

If you would like a private tour of this new listing, call Katie Hofer at 703-508-6654.

JS Realty Free Analysis Contact UsThe JS Realty Team – not only serving Brambleton, serving all of Northern Virginia.

WHEN TO CALL A LENDER

When should I call a lender in the Buying process?

jsrealty4u business lender menContacting a lender to get pre-approved for a loan should be the first action item for anyone that is interested in buying a home. The pre-approval process will typically begin with a phone conversation or a face-to-face meeting between the borrower and the loan officer. The prospective borrower will need to fill out a loan application and give the loan officer permission to run a credit report.

Why are these steps important?

The initial conversation will allow the loan officer to get valuable information such as:

-The number of people on the loan
-Will there be a non-occupant co-borrower
Meeting Realtor Contracts-Permission to run a credit report
-How much cash the borrower has for closing costs and a down payment
-Time-frame for purchasing a home
-Is the borrower self-employed?
-Is the borrower paid by salary, commission, overtime etc?

The loan application provides a great deal of information as well such as:

JS Realty Mortgage Loan Application-Does the borrower own any properties currently
-Employment information
-How long the borrower has been employed at current job
-Monthly income
-Assets such as checking accounts, savings accounts and retirement accounts
-Past credit issues: bankruptcy, foreclosures, short-sales etc.

The credit report provides additional information that is valuable in the pre-approval stage.

JS Realty credit score variableCredit score which will determine the type of loans available
-Score also determines interest rates that the borrower qualifies for
-Amount of monthly debts that need to be factored into the borrower’s debt-to-income ratio
-Are there any collection accounts that need attention prior to final loan approval
-If scores are low, many times a loan officer can offer help in raising the borrower’s credit scores

jsrealty4u js realty stampAfter gathering information from the initial conversation, loan application and credit report, the lender may need additional documentation in order to provide a pre-approval letter. Once this information is received and reviewed, a lender should be able to let a borrower know the amount of a monthly housing expense payment they would qualify for. A pre-approval letter is a written commitment by a lender to provide a mortgage loan to a borrower. With a pre-approval letter in hand, potential buyers are able to look for properties in their price range with a high degree of confidence that they can purchase a home that fits their needs.

JSRealty4U new homeIf you are curious about how the process works, check out our previous blog on the entire Loan Process or download our Loan Process Flyer.

JS Realty Keith Harris
Keith Harris
NMLS # 838973

If you have any questions about a loan, or would like clarification on any of the information we have provided thus far, please contact our preferred Lender, Keith Harris at Intercoastal Mortgage Company.

 

 


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The JS Realty Team – not only serving Brambleton, serving all of Northern Virginia.

THE ULTIMATE SELLING EXPERIENCE

Creating a positive selling experience for our clients

The JS Realty Team has a very specific way of selling a home. We like to create a positive selling experience from start to finish. In order to fully understand how we operate, we’re going to walk you through our most recent transaction.

JS Realty business people interview sell home

Not long ago, we received a referral for a young lady (let’s call her “Anne”), that had decided to sell her home.  We scheduled an appointment to meet with Anne at her home. We arrived prepared to explain our comprehensive marketing plan and to review exactly how the market was performing in Anne’s area. The first thing we did was take a tour of the home. During the tour, Anne told us what she was planning to do to her home to get it ready for the market. paint jsrealty4u js realty team sellingShe had a good grasp on what needed to be done and we were able to give her some additional ideas that we know will help the home show its best.

With over 20 years of experience and over $200 million in home sales, we are able to provide our clients with valuable advice, along with cost-effective ideas to help their home sell for the most money in the shortest amount of time.

JS Realty Contract PaperAt this point, Anne was very pleased with our advice and marketing plan, so we moved on to explain the “Exclusive Right to List” listing agreement. This contract between the JS Realty Team and the seller gives us the right to sell their home and represent them. The very next day, Anne signed on with us and became a client of The JS Realty Team @ Samson Properties.

Our next step was to install a FOR SALE sign with a “Coming Soon” rider to start creating a buzz through the neighborhood that a home was about to enter the market. Anne worked on the items to get the home ready for market, while we kept a close eye on the activity in the neighborhood and started our preparations for listing the home for sale.

jsrealty4u JS Realty selling iphone pictures cameraOnce the home was ready, we brought in our professional photographer to take still shots and a moving Virtual Tour of the home and neighborhood amenities. When we received the images from the photographer, we set out to build the listing, web sites, take room measurements, film a YouTube video, and create brochures, then roll out our extensive social media campaign. And that’s just part of the many facets of our marketing program. We suggested that the home “go live” on the market on a Thursday evening, so when Realtors and buyers who were searching for homes in Anne’s neighborhood woke up Friday morning, our new listing would be live and complete for them to view.

In addition, an Open House was scheduled for the first Sunday that the home went on the market. Anne’s home generated a lot of interest right from the start, and we had multiple showings that Friday & Saturday, along with over 20 groups throughout the Open House on Sunday. On Monday we received an offer, and after discussing the offer with Anne, we devised a strategy to get the contract ratified. After negotiating with the buyer’s Agent, we were able to facilitate an agreement that both the buyer and Anne were happy with.

JS Realty Checklist Inspection ReportOnce the contract is ratified, our job turns to getting the contingencies closed. These included home inspection, radon, HOA disclosure packet, appraisal and financing. This is a very important step in the transaction and we take the contract deadlines very seriously to protect our clients.

This transaction has moved very smoothly.  There are always issues and items to be dealt with, but that is why you hire the experience of the JS Realty Team @ Samson Properties. Anne is moving towards settlement day and we are looking forward to another successful transaction!

Anne has been so pleased with our comprehensive program and attentiveness to details, that she has already given us 2 referrals! This is helping us achieve our goal of building lifelong relationships with our clients.JS Realty Couple with Realtor

Let us start a lifelong relationship with YOU! If you’re thinking of buying or selling a home, contact us today. We’d love to sit down and talk to you about all of the possibilities the current market has to offer!