Northern Virginia Real Estate Experts

Welcome to the Preferred Realty Partners Blog!

We are excited to share our knowledge and passion for real estate with you!

Wednesday, October 26, 2011

South Riding home for sale

We're hosting an open house Saturday from 1-4 at this lovely South Riding home!
New paint, new carpet, backs up to a gorgeous tree preserve with a screened porch and slate patio. MUST SEE!


 

SEE MORE PHOTOS HERE!

Thursday, August 18, 2011

7 Mortgage Interest Deduction Myths

Visit houselogic.com for more articles like this.
Copyright 2011 NATIONAL ASSOCIATION OF REALTORS®

Wednesday, July 20, 2011

Open Saturday 1-4

We just listed this home located just a short drive from Mount Vernon, Grist Mill Park in Alexandria. Beautifully updated single family home with hardwoods, two fireplaces and a 30x30 composite deck just to name a few. Short drive to Fort Belvoir.

for more photos see  8518MtVernonHwy.com
This one-level home sits on a half acre fenced yard with a shed for additional storage. Call the lovely & talented Polly Pan for more details 540-229-0158. She is the Realtor on our team working with these sellers.

Thursday, June 30, 2011

Now with Hardwoods and Granite!

Welcome to the big holiday weekend folks! I hope you all have some exciting plans. 
We are hostessing an open house this Sunday at the lovely home pictured below. They've just replaced their kitchen counter tops and floors and now have absolutely GORGEOUS Granite and Hardwoods.  The Sunroom is spectacular.


This townhome is on Latrobe Street in South Riding, if you find yourself in the area Sunday between 1-4 stop on by and say hello to Linda. She'll be happy to give you the tour!!

Tuesday, June 14, 2011

Iverson Drive Beauty



We love it when we have the privilege of listing a home with so many enchanting details, so unique that it truly blows the competition out of the water. This single family home on Iverson Drive in South Riding features gorgeous professional landscaping, upgraded tile, Brazilian Teak hardwood floors, granite countertops, Stainless appliances, and a finished basement with custom granite wet bar and legal 5th bedroom! Too many features to list here. Come see the Open House this Saturday from 1-4. We can't wait to show it off to you!

Wednesday, June 1, 2011

New Listing!

Fantastic new townhome just went on the market today. It's an end unit in South Riding with a two-level bump-out that creates a magnificent Sunroom and elongates the recroom in the basement. Bright and neutral throughout, you'll love this townhome!

New South Riding Townhome! $384,000
Click the link to see the Virtual Tour!

Friday, March 25, 2011

Open House Saturday

First I'd like to congratulate our Buyer Andrew on his new Manassas Town Home. He got a fantastic deal on a great house!

Second, I'd like to announce our open house on Saturday the 26th from 1-4pm in South Riding


We have a fantastic condo coming on the market next week that I can't wait to show you pictures of!
Send an email if you have any questions.
Truly, Your PRP

Thursday, March 3, 2011

Hello again!

WOW! It's been an exciting couple of weeks around here!
The end of February had us closing on a single family home for the Miller family and a townhome in South Riding. This past week some lucky buyers bought a gorgeous condo in Reston and we have a tenant moving into a fabulous condo in Fairfax.

We also put a single family home on the market as a short sale in Front Royal and buyers are out like you wouldn't believe! It's an exciting time to be in Real Estate!

Wednesday, February 16, 2011

Easy come, Easy go

WOW! We put this South Riding townhouse on the market last Thursday and it's already under contract!  The spring market is here and showings have picked up in the last few weeks especially in Fairfax County.  If you're thinking about selling a home in Northern Virginia, this is a GREAT time to be on the market!


We have Realtors in Warrenton, Stafford, Loudoun and Fairfax Counties and Realtors who speak fluent Spanish and Mandarin.  We can help you buy or sell a home no matter where you are located.  If you're upside-down, we work with an attorney who negotiates our short-sales so we can help you with that too.  No obligation, no pressure EVER.  We are happy to help even if all yo have is questions about the process, we are delighted to help!

Tuesday, February 15, 2011

Looking for a new home?

Call or email for details about this fantastic estate home for sale in Fairfax County Virginia, tucked away on a 5 acre tree lined parcel in Centreville. You'll love the location almost as much as you'll love the custom upgrades!  Here are just a few:
  • Three car side-load garage
  • Flagstone Terrace with surround sound
  • Four finished levels
  • Master suite with sitting room, coffee bar, dressing area and luxurious bath
  • Finished lower level with theater room
  • Seven bedroom suites each with a private bath 
  • Library with floor to ceiling bookcases and private full bath
    Stunning gourmet kitchen
    
    Main level library
    

Wednesday, February 2, 2011

Why should I hire a Realtor for New Construction?

We talk to builders all the time who sell homes to buyers without representation. Often buyers think that this will save them money. But this is not typically the case.  Some builders may shave a few thousand dollars off the price, but they are the rare exception, and this only saves you around five to fifteen dollars in monthly payment, if that.

The truth is the home buying process is complicated, even in the best of circumstances. An informed Buyer's Agent has information on the local market and can sometimes help you to negotiate a better deal if the builder's prices are inflated. Although in our Northern Virginia Marketplace they have been quite competitive with resale properties for the past 6 months. They can also work with the builder to resolve disputes on your behalf, saving you some of the stress.

Most importantly, it won't cost you a dime to have your own Realtor representation! That's right, for the buyer it is FREEThe Builder pays the Realtor commission, and you enjoy the benefit of having a knowledgeable licensed professional in your corner to answer all of your questions.

So the real question is, why wouldn't you work with a Realtor if you're buying New Construction in Northern Virginia?

Monday, January 24, 2011

Tax Assessment & Market Value

The 2011 tax assessments are out for many of our local counties, and it brings about a recurring question from homeowners as well as potential buyers; "If the tax assessment says my home is worth _____ why isn't that the list price?"

It's understandable that people are confused, after all according to some county tax assessor's websites the assessed value is considered the "fair market value" of the home. While this is true in terms of determining a taxable amount for the property, it is not necessarily the fair market value in terms of buying, selling, or refinancing. 

The assessor's office is required annually to value all the properties under their jurisdiction in order to determine the "fair market value" so that they can tax the property accordingly.  It is unlikely that the county  has the resources to order individual appraisals for each property, at approximately $400 per home. My understanding is that they perform a "mass appraisal" looking at a particular zip code or subdivision for the past year.  In this way they can approximate and adjust the value from last year up or down in order to attempt to have an accurate tax rate for the property.

Since I started working in Real Estate for Michele Mamo in 2003 there has always been a variance of 10-20% in the tax assessment vs the sale price of the home.  In 2005 and 2007 as the market was peaking and then dropping the variance was as high as 30% in some areas.  This variance can be in the negative or positive depending on whether the market is experiencing rapid increase, or rapid decline.

So how is an appraisal different from a tax assessment?  In an appraisal a licensed professional appraiser will measure your property and compare it to three current sales and three current listings within a one mile radius. If you live in a more rural area and a one mile 90 day radius is not available, the appraiser will use the properties that are considered the "best available" comparables. Typically the closest in type, finished living area, and amenities. For example, it is unusual for an appraiser to compare a 2 level ranch-style house with a 3 level colonial unless there are no other properties available in the same area or time frame. "Current" typically means within the last 90 days, which is important to home buyers and Sellers. In 4 to 6 months the local Real Estate Market can change a great deal, making the appraisal's narrow time frame more accurate than a full year's worth of data and a mass appraisal.

Still have questions?  email us here yourprp@gmail.com