In 2009, nearly 88,000 new residents moved to Fairfax County.  That is 20,000 more than the next closest county (Montgomery, 68,000 new residents).  The numbers are fascinating.  Apparently the reason Fairfax is no 1 is its business-friendly climate and excellent public schools.  In fact education was the main reason that Northrup Grumman chose Fairfax over Montgomery county in 2010 for its corporate headquarters.

That type of growth and the foundation of a great educational system means its a great environment to invest in.  All of these new residents need somewhere to live so you might as well take advantage of the high demand for rental housing.

Northern Virginia Real Estate Investor Blog

Why is that?

Is it that we’re just giving you a little face time and although you bring a valid point to the table about your expertise, your professionalism and those awesome calendars you send out every year; deep inside, I just can’t wait to get to the next person?? C’mon, are we really that shallow? What do we do with all those business cards? I personally tape them all to the wall in my office and throw darts at them and the ones I hit I take off the wall until the next event!! Ha! Really – I’m just kidding!

What percentage of cards you give out, and then afterwards get a follow up call, a personal note or at least an email? Do YOU do that? I know, I know… It takes time, effort and discipline. However, I’m here to tell you, as I’m sure there are many others that dwarf my business, that if you reach out first, don’t wait for the other person and send a personal note, make a phone call… You’ll find a world of opportunity awaits at your door!

Someone once told me that real estate is a contact sport. Although I’ve lived by this and feel quite incomplete when I haven’t yet reached out to someone I’ve met, the energy and influence Keller Williams Capital Properties brings to my business renews my commitment to this every day!

With protester groups like Occupy Wall Street, a leaderless movement bent on income inequality and the perceived greed of the rich and powerful, gathering in front of foreclosure auction houses screaming “fairness;” nearly 6000 people have been arrested for such activity, as reported by PressTV in Los Angeles.

I wonder if we are focused on the wrong thing.

Although in comparison to just a few short years ago, the current housing market is quite challenged. However, is it healthy for the market- and ourselves for that matter to be focused solely on inadequacy? As an economy, we’re all in this together. As for the real estate industry; interest rates are the lowest in history, investors are getting back in, new home builders are building. Outside of an overnight fix, what more do we want?

For years, realtors were the gatekeepers to that information.  In fact, supplying a recommendation for what you might sell your property for was part of their job description. An individual could access that information – with painstaking difficulty, visiting the courthouse for tax assessments and for sales prices of comparable properties.

But in today’s instant access to online information – all that has changed.  With the click of a mouse you can visit Zillow or Homes.com and get an estimate in seconds – with no real estate agent attached.

A blessing for consumers?  Maybe, but it’s mixed at best. Both sellers, buyers and even voyeurs are finding online real estate estimates change at an alarming rate.

In The Fuzzy Math of Home Values on SmartMoney.Com (http://www.smartmoney.com/spend/real-estate/the-fuzzy-math-of-home-values-1320260595148/), Alyssa Abkowitz describes some astonishing examples of inaccuracies on popular home valuation websites. For example, Jason Gonsalvez found his Sacramento home was valued on one site for $550,000  – $200,000 below his mortgage, on another for $640,000. But the real- life appraisal for refinancing was $1.5 million. And that’s just one example: inaccuracies abound. According to Abkowitz, “Evaluations that are 20, 30 or even 50 percent higher or lower than a property’s eventual sale price are not uncommon.”

And there can be adverse consequences. An inflated valuation can give home owners an unrealistically high expectation of what their home is worth and make them inflexible on pricing. A too low estimate could encourage buyers to make low ball offers on property they believe is over priced.

So what’s a consumer to do?

Until these websites improve, consider their estimates much like weather predictions, or hot tips on the races; guesstimates at best.  If you want to determine the value of a property – accurately – the best way is the old-fashioned way: find a good real estate agent.

To read more from Dave Sterrett, visit his blog at:  http://novarealestateinvestor.blogspot.com/

2. Discoloration (sometimes referred to improperly as mold). Mold is a term to describe microbes that meet certain criteria – however, not all discoloration is mold. True mold infestation is a serious problem, though 95% of what I see is discoloration that is solved with proper ventilation and drywall repair – and does not require men in space suits.

3. Electrical issues. No one want their house to burn down, though that is the quick jump-to fear when presented with an “electrical hazard” in the home. The truth is, most electrical issues are “issues” as the code has improved and an electrician can take care of most things in an hour or two. Not a big deal most of the time.

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I knew I was in trouble when I approached the home and the front door was the wrong size.  Sure enough, upon entry, it seemed like “Harry Homeowner” (no offense to homeowners named Harry) renovated the home, from top to bottom, over the course of 5 years and created a disaster of poor workmanship.  The improper corner cuts, crooked tile, sagging floors, and bad design choices added up to a complete waste of money and time.

Please, do not test your workmanship on what is likely your most valuable asset – your home!  It is like playing mechanic on the weekends to the Bentley in the driveway.  I have no issue with home renovation projects, though please make sure you consult with experts and have someone look over your work from time to time so you don’t renovate your entire home only to be told by your neighborhood Realtor that the entire home basically needs to be redone.

Ouch.

Notice the “Sales Trend” box on the right.  Clearly there are more sales in the spring, and the fall is indeed the 2nd most active period – though the rise and fall between seasons is not that much at all.  Only about 20-30%.  Additionally, remember there is more competition in the market in the spring and fall too, so it may not be to your advantage to list then.

Bottom line, the perception of a dramatic drop off in sales between seasons is, in reality, not so severe.  Rather than trying to time the market, let’s discuss what’s happening in your life and make decisions based on timing your life instead.

The reality is there is a backlog of delinquent mortgages that have been caught in a process that is overloaded and thus delayed.  I’ve said it again, and I’ll say it now – the key to a full recovery in the real estate market is to move people out of homes they cannot afford and into homes they can.  Though well intended, I believe the programs to keep people in their homes on temporary modification plans only push the resolution of our marketplace further down the road.

It is time we, as real estate professionals, have the difficult, but necessary conversations that allow people to move forward in their lives – with new, more affordable living arrangements.  It is time to move delinquent loans to the marketplace now by having those conversations, and allow people to move on.