Real Estate Information Archive

Blog

Displaying blog entries 1-5 of 5

There's no question about it- the demand for single level living has risen dramatically in our Northern Virginia 55+/Active Adult communities. The population is aging and with age, many people find it difficult to get up and down stairs. The problem is, rental housing that allows for single level living is hard to come by in Fairfax County and Prince William County. I know this because I'm a Seniors Real Estate Specialist and the number of calls I receive from people looking for rental housing in 55+ / active adult communities has skyrocketed. Communities such as Spring Hill in Lorton, River Ridge near Occoquan, Four Seasons in Dumfries and Regency at Dominion Valley in Haymarket are just a few of the spectacular 55+/Active Adult communities in which you could find a good investment property to buy, rent quickly and hold. 

To learn more about Northern Virginia's 55+/Active Adult Communities or to receive listings-by-email, you can contact me at SusanBorrelliHomes@gmail.com or go to: www.NorthernVirginiaSelectProperties.com   

Buy & Hold Real Estate Wealth Building Strategy

by Susan Borrelli

I personally believe buying & holding real estate is one of the most effective wealth building strategies available to us as individuals. Holding one or more rental properties affords us the long term opportunity to own the property outright. Unfortunately, Principle Pay Down/Building Equity is a strategy that many people overlook because it's not a get rich quick scheme. In essence, the tenant pays down the landlords mortgage in the form of rent (payments are applied to principle, interest, taxes and insurance). Over time, the principle amount owed diminishes and your equity in the home increases. When you sell (10, 20 or 30 years from now) you have a nice chunk of equity or you own the property outright. 

Potential tax benefits, appreciation and passive income during retirement are more good reasons to consider investing in real estate.  

As with all investment strategies, due diligence is required. Seek the help of a local Realtor to identify areas where homes rent quickly and to verify market rent in those areas. A local lending professional can help you understand your loan options and consult your accountant to assess potential tax benefits. 

If you're considering purchasing a rental property in Northern Virginia and would like to know more about current rental conditions or areas where homes rent quickly and for top dollar, don't hesitate to contact me at SusanBorrelliHomes@gmail.com.  

 

 

There's a new energized direction in downsizing. It's called right-sizing, it's trending and it's happening at an earlier age. People are trading in their big, longtime homes for smaller, comfortable, yet luxurious homes and the accompanying lifestyle and amenities. Homes are often half the size but newer and more energy efficient. They're beautifully upgraded and the communities in which they reside typically come with luxurious amenities and an active lifestyle such as golf, workout facilities, indoor and outdoor pools, themed parties and even on premise restaurant, activity director and concierge services. In essence, people are trading up! They're not waiting for retirement to make their move and why should they?

The HOA fee may be a little higher but in return, there is less spent on upgrading and repairs on the old home, lower taxes, reduced utilities and little or no yard work.  People experience a better, active, resort-like lifestyle after years of hard work. 

The trade-offs are your neighbors are a little closer and the work commute may be a little further. Though you may need to downsize your belongings, in the scheme of things, it could be a great excuse to discard old furniture and modernize. 

If you would like more information about Northern Virginia's active lifestyle communities, you can contact me at: SusanBorrelliHomes@gmail.com or 703-216-2620.

Visit www.NorthernVirginiaSelectProperties.com to see active listings for sale in 55+/Active Adult communities: Spring Hill in Lorton, Four Seasons in Dumfries, River Ridge near Historic Occoquan, Regency at Dominion Valley in Haymarket and much more!

 

How to Buy and Sell a Home at the Same Time? Why Use an SRES®

by Susan Borrelli

Why Use an SRES®  to help with the complicated process of buying and selling a home?

 by Susan Borrelli

 A SENIORS REAL ESTATE SPECIALIST®

Considering selling the family home but need a place to go too? It sounds complicated but there are Realtors who specialize with this type of dual transaction. SENIORS REAL ESTATE SPECIALIST®, SRES designees are Realtors with the senior experience, knowledge and marketing savvy needed to manage the sale of a longtime home and the contingent purchase or rental of a new home.

We create a customized marketing approach to sell your property, and work with you to explore your 55+ housing options to ensure that your next home best serves your current and future needs.

Wcan tap into our network and put you in touch with everything from qualified home inspectors, movers, attorneys, CPAs, handymen and even loan officers with special knowledge on the uses of reverse mortgages, pensions, 401k accounts, and IRAs in real estate transactions.

An SRES will also help you steer clear of loan schemes and scams that victimize borrowers.

We have all the resources and knowledge to simplify the sell-buy process. 

So if you're thinking of buying, selling, renting or relocating, contact Susan, your local SRES, at 703-216-2620 or SusanBorrelliHomes@gmail.com. 

Pocket Listing

by Ron and Susan

 

What is a “Pocket Listing”?

         In real estate, a seller who wants to sell their home will usually contact and hire an agent, the listing agent, to list and market to the home to the general market – normally through the Multiple Listing Service (MLS).  Once a home is entered in the MLS, many real estate websites will pick-up and showcase those listings as well making a home visible to a very large number of potential buyers.

     A pocket listing is very different.  These listings are not technically “on the market”.  They are not entered into the MLS, but marketed independently and directly by the seller’s agent or broker, who has complete control over the listing, thus keeping the listing in their “pocket.”   Their advertising, if any, is normally very local in nature, and therefore the amount of exposure is limited.

 

Pros

Pocket listings are only permitted if the seller expressly agrees to it.  Those that are pro-pocket listings argue that they enable privacy.  Additionally, some sellers use them to “test the water” if they aren’t 100 percent serious about selling.

Cons

Some real estate professionals argue that pocket listings are harming the market by skewing the overall market image, limiting exposure, and making it harder to browse comparable homes and prices. Others are frustrated that pocket listings enable the listing agents to take in the full commission.

 

     We don’t think pocket listings are in the best interest of a seller.  There is the potential for a seller to receive less than market value if a deal is made since a listing agent may be interested in a higher commission rather than considering the best strategy for their clients.  A seller is better served if they expose their home to as many potential buyers as possible, thereby increasing the chances of receiving a top-dollar offer.  Additionally, with all of the marketing tools available to real estate professionals, why not utilize them all to your advantage?!

 

 

Displaying blog entries 1-5 of 5