When Seeing Is Believing
February 16th, 2009 categories: Real Estate News, Relocating
“There’s a sucker born every minute.”
David Hannum
Have you ever wondered what separates fact from fiction? Is there a difference between fact and opinion? If so, is it simply a matter of personal interpretation?
In the real estate business, we sometimes find that what is advertised may not be exactly what is delivered. In real estate vernacular, that is often referred to as “puffing” or “puffery“. According to the 17th edition of the textbook, Real Estate Practice, puffing is defined as “a legal exaggeration of a property’s benefits or attractiveness.” Apparently, in the sales business, this is an accepted practice! On the other hand, its evil twin, “FRAUD”, is characterized as ”the intentional misrepresentation of a material fact to harm or take advantage of another person.”
So, as a prospective home buyer, how do you decipher the creative verbiage you often encounter when reading property descriptions about homes that interest you? In other words, how do you minimize the “noise” or misinformation? Short of giving the listing agent a dose of Truth Serum, an “eyes on target” approach is probably the best one. After all, nothing replaces an actual walk through of any property that might interest you.
Since many of my buyer clients are PCSing (for you non-Department of Defense types, PCS means permanent change of station, in other words, you’re MOVING) from across the country or around the globe, their first look at properties is done via the internet. Come to think of it, that’s how most people shop for homes these days!
Their desired home criteria is used in defining their property search, and that criteria is also used to provide them a direct e-mail feed of homes from our area’s Multiple Listing Service or System. Unlike other online home databases like Realtor.com, Zillow or Trulia, the MLS feed of homes provides prospective buyers the best and latest (Realtors who have homes listed on the MLS are required to keep the status current) information on properties. Since the MLS e-mail feed is free to the consumer, and the status of viewed homes current, why would those looking for homes use anything else as their reliable source for information on homes for sale?
Many home shoppers have pored over tons of data sources to include magazines, flyers, and various online sources for information. After days and weeks of reading property description after property description, there are times when they probably feel like they’re in the Twilight Zone instead of on the road to locating their next home.
Fortunately, there is a light at the end of the tunnel. While it is difficult to know exactly what they’re getting, most property descriptions are an accurate depiction of the property being considered. But as I mention to my incoming buyers, while they may get a fairly good idea of the homes and neighborhoods through pictures and property descriptions sent via e-mail, until they get their “boots on the ground” and actually see the properties first hand, they can’t be certain that what they’re reading is exactly what they’ll see upon closer inspection. Once they’ve actually walked the neighborhoods and properties, it’s another story. As they say, “seeing is believing.”
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Shakin’ Up the Commonwealth
February 12th, 2009 categories: Entertainment, Relocating
One of the many pleasures of life in Northern Virginia is the opportunity to enjoy the well kept history of the Commonwealth. For U.S. Colonial history buffs, there are more historic sights, sounds, and treats than one could possibly enjoy in a single lifetime. Fortunately for me, my hometown of Fredericksburg offers a multitude of historic must see venues, some of which are worth stopping in more than just a couple of times a year.
Goolrick’s Pharmacy is a combination of drug store and Soda Shop. While the convenience of a corner pharmacy isn’t lost on its clientele, the front half of the store and its old fashioned soda shop is what draws the tourists and keeps many visitors coming back.
The assorted sandwiches (on toast if you’d like) include an assortment of the salad (egg, chicken & tuna) type, and favorites like the BLT and grilled cheese. Each also includes a side of potato chips and a dill slice. And, while these and the history are reason enough to drop by, many of us can’t wait for the supersized milkshakes which are about as good as you’ll find. Not only are they twice the size you’ll find at your normal malt shop, but are thick and leave you wanting to return again and again to enjoy the flavor.
As a military brat growing up on Air Force bases, much of my free time was spent at Youth Centers, playing basketball, playing ping pong, or shooting pool. One the refreshments that each of the Youth Centers had was the mikshake. So, my addiction to that particular drink came at a very early age, and remains with me to this day. So, as you might imagine, a visit to Goolrick’s is never too far out of the way.
But, Goolrick’s pharmacy has much more going for it than the the food and friendly service. Not only does it serve as one of Old Town Fredericksburg’s most popular places for a bite to eat, it also is rich with history.
Goolrick’s Pharmacy was originally established in the late 1800’s by William Barber Goolrick. That store was moved to its current location on Caroline Street in the late 1890’s. William’s son, Keating Nelson Goolrick, installed the store’s Soda Fountain in 1912, and serves as the oldest continuously running fountain in the United States. It was also the first to serve this nation’s favorite soft drink, Coca Cola, in Fredericksburg.
The Commonwealth of Virginia offers its residents and visitors historical, cultural, and community activities and sites that few other states can rival. So, whether you’re visiting or just out enjoying the area’s beauty, and you’re in the Fredericksburg area, take a few minutes to drive into Old Town and spend a few minutes in Goolrick’s. The inviting atmosphere, enjoyable and engaging staff, and the tasty menu won’t disappoint you. And, if you love a great milkshake, you may end up spending more time in Old Town than you planned for!
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Are Brand Names Better?
February 10th, 2009 categories: Real Estate News, Relocating
As a father of three sons, I’ve been through the “must have” brands a couple of times. You know, the teenager that turns to you, upon opening a Christmas present, and gives you that look, “You expect me to wear that”? In other words, if it isn’t a brand name, I ain’t wearin’ it.
Of course, growing up in a family of five boys with a father who worked two jobs to provide for his family, we were simply happy not having to wear hand-me-downs! However, as we know, times have changed. Besides, as my sons were probably thinking (just as I was at that age), “What does Dad know”?
But, the apparent need to wear brand named clothes brings up a good question, “Do brand names make a difference”? While many are convinced that the brands make them more hip, are those clothes really any better than their non-brand name counterparts? And, what about other items we purchase or services we make use of? Does a popular or well known “name” make a differnce in the quality of the product?
In the real estate business, we have our share of “legacy systems” or brand names that most people recognize, but few have taken the time to carefully research. But, are the “big players” (Century 21, Coldwell Banker, ReMax, etc) any better than their competitors who lack that Brand identity? Do their tools and information do a more effective job of assisting their clients and customers to buy and sell, or market homes? In other words, do they necessarily provide a better service?
Recent surveys have shown that those in the market for homes are looking primarily for home, neighborhood, school and other “local” information when searching for homes. While this information used to take days or weeks to compile, it’s now readily accessible in minutes via the internet. In many ways, the web has served as a “force multiplier” or equalizing force for smaller companies in their attempts to compete with better financed and supported national real estate brokerage firms. Does the information they provide, those in the market to buy or sell, different than that provided by brand named firms? Perhaps when all is said and down, it isn’t the “company”, big or otherwise, that should be the focus of the consumer. After all, as many an agent, and client can tell you, it really boils down to the individual professional doing the work, not who they work for.
Just think, if the internet does level the playing field for agents by providing the resources needed by clients to achieve their objective, isn’t the onus on the individual professional to be where the money meets the road? Aren’t they the interface with the client? Is it not their interpersonal skills, job knowledge, and judgment the client is dependent upon? Or, is it the brand name of the company the client is putting their faith in?
Choosing a brand name may provide you the security of knowing (well, at least, assuming) what you’re signing up for. National brands certainly have the resources to support the needs of the clients they serve. But, where content is king, bigger doesn’t necessarily mean better. In my profession, the individual agent is the “pointy end of the sword.”
It is the individual agent’s expertise and professionalism you’ll be relying on to make your home buying, or home marketing venture as smooth and seamless as possible, whether they work in a company of two, or two hundred. The next time you look for a real estate professional to assist you, it may serve you well to consider the words of legendary coach, Pete Carill:
“The strong take from the weak, but the smart take from the strong.”
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Stafford and Fredericksburg Market Update
October 17th, 2008 categories: Market Trends, Relocating
“Figures don’t lie, but liars figure.”
Mark Twain
As we’ve discussed with numerous reluctant home sellers during the past three years, nothing speaks louder, when it comes to assessing the value of your home, then recent home sales. In other words, the market is the determiner of your home’s value. Yes, it is as simple as supply and demand.
The slide in home values has gone on long enough that even those who’ve been hiding under a rock during the current mortgage crisis have come to realize that selling a home in today’s market is tough going. Prices continue their descent, coupled with an increasing inventory. But, fortunately, accurate market data provides us the information we need to draw important conclusions and make intelligent decisions when preparing to sell our home.
Altos Research, which we use to track local market data, plots current data in graph form, which makes it easier for many of us to interpret. As they say, a picture is worth a thousand words.
The first chart indicates the average days on market for Fredericksburg and Stafford zip codes. The snapshot indicates the change in days on market (DOM) for the last sixty days. Today’s market is fluid, if nothing else. Unfortunately, the normal absence of buyers that characterizes this time of the year, now coupled with the tightened credit rules, has led to an even greater number of days that homes remain on the market.
In just a couple of months, the average days on market increased by over twenty days for both indicated locations. Similarly, for both Fredericksburg & Stafford, prices continue to decline as days on market increase.
While these charts provide accurate data points and indicators of the local market, they are averages. From home to home, and neighborhood to neighborhood, there will be variances. That depends on the conditions and quality of the neighborhoods, and the condition, features, and appeal of the individual homes.
Having said that, in the current market, these trends are anything but comforting to sellers. But, more importantly, they keep you aware of some of the obstacles you need to overcome to successfully market your home. And, with that in data in hand, sellers are certainly better equipped to meet the challenges of preparing their home for the market with their eyes wide open.
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What’s Happening in Your Neighborhood?
September 30th, 2008 categories: Entertainment, Relocating
Sitting in front of your High Definition (HD) big screen television, watching somebody else live their life can be awfully tempting at times. I mean, you’re in that controlled environment. Better yet, YOUR controlled environment! But, most of us, sooner or later, hopefully, wake up from watching other’s lives, and decide to get out and experience the many activities our communities have to offer for ourselves.
But, once we decide to get out and find out what’s happening, where do we go to discover what’s taking place in our cities or neighborhoods? For many of us, we depend on that weekly newspaper insert. In this area, the local newspaper, the Free Lance Star, has its weekely Weekender section that does a splendid job of providing a rundown of local things that are happening. But for us online types, there may be an easier solution.
A few months back, sitting in front of the computer, I ran across AmericanTowns.com. Talk about community information! When you have a moment, take a look. It offers the latest in Community News. Some of the items covered are:
School Activities, Classified Ads, Church Activities, Community Events (like the Pumpkin Patch, Guide To Apple Picking Orchards, Movie Guides, Volunteer Opportunities, etc.), Best Local Gas Prices, Classified Ads, Recreational Activity Sign Up, Arts & Entertainment News, Local Traffic Videos, Area Maps…in other words, Just about Everything!
White Water Thrill
American Towns has about all you’d want to know about your local area. As a matter of fact, it covers the entire U.S. Make sure you take advantage of this wonderful online tool. You’ve got all you want to know at your fingertips. So, do yourself a favor, stop playing the couch potato (not just on weekends) and start enjoying all that your local area has to offer!
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When Karaoke Just Won’t Do
September 10th, 2008 categories: Entertainment, Relocating
One of the many pleasures in life is being entertained. For some of us, the convenience of the family room and big screen T.V. on a Sunday afternoon is about as good as it gets. I mean, how many armchair quarterbacks have ever been wrong?
But, hopefully, other than your daily back and forth to work, you get out every now and then to enjoy the people, places and things your community has to offer. Our Stafford & Fredericksburg area offers a variety of entertainment outlets for both young and old. One of the attractions that suits just about any taste is the Bella Cafe which sits on Route 1, just North of Stafford, VA.
The Cafe is not your everyday attraction. While it’s been called a restaurant or eatery, it’s anything but. Known for its Tuesday and Thursday Chess nights, the pieces and chess boards are actually in use whenever there’s table space and players ready to play. While the chess nights seem to attract an older crowd, it’s the Open Mic nights on Friday and Saturday that really draws the twenty-something and younger crowd. The “open mic” is just that.
While there is the line-up of regular performers, the microphone is open for all comers. As a matter of fact, it’s the ideal place for any and all beginners to get some experience. Whether its an instrument you play, or you just like to sing, there’s no better place to get your feet wet. For those with a bit more experience, what better place to hone their skills? Most of us do our best singing in the shower. For us, Bella offers us a comfortable place just to sit back and enjoy the entertainment. You won’t be disappointed. Of course, what’s a Cafe without food?
Bella is an all day affair. In other words, it serves breakfast, lunch and dinner. While open, food is served. Hours are:
Monday – Thursday 9:00AM – 10:00PM
Friday 9:00AM – 10:30PM
Saturday 9:00AM – 11:00PM
Sunday 10:00AM – 5:00PM
Menu items include many different offerings of various types of sandwiches, wraps, bagels, & soups, among other things. Drinks available include expresso drinks, gourmet coffees, smoothies, custard shakes, and the regular lineup of soft drinks. Teens stand in line for the 21 oz custard Brainfreeze which comes in an assortment of flavors. While I have yet to have one, the numbers don’t lie. The Brainfrreze must be tasty! But, it’s their Shrimp and Roasted Corn Bisque that I find hard to pass up. If a soup can be labeled gourmet, then it is gourmet.
The Bella Cafe isn’t you’re everday hangout. Not only is the food very good and the entertainment enjoyable, but, what keeps the faithful coming back is its charm and sense of community. So, next time you decide to turn off the big screen T.V. and head out for a bite to eat, by yourself or with friends and family, stop by the Bella Cafe. If you’re lucky, you may have the chance to listen to the next star of “America’s Got Talent.”
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