Mineral, VA Real Estate News

By Kate Elim, Realtor 540-226-1964, Selling Homes & Land a
(Dockside Realty)
2008 - During the past year we saw a slow down in the real estate market across the board.  There were 50 Lake Anna waterfront homes sold between January 1, 2008 and December 31, 2008. The least expensive home was located at 200 Lakeview in Aspen Hill Subdivision.  This home was initially priced at $444,900.  Then it was reduced to $424,900 and finally to $174,900.  It sold after 356 days on the market for $179,900.  The remarks in the listing state that the home was priced according to the apparent condition and was being sold as is.  Buyers were advised to obtain requirements from the county on prior permits.  The house had 115' of waterfront and 1800 sq. ft. of interior living space.  (See least expensive home sold in 2007.) The most expensive waterfront home sold last year sold for ...
Comments 6
By Kate Elim, Realtor 540-226-1964, Selling Homes & Land a
(Dockside Realty)
When you have lived at Lake Anna for a while, you learn to adjust to a slower pace and you learn to love it.  We even have patience when we hear that there are going to be some changes.  While you may see nothing but open space in this photo, those of us with vision see Cutalong, one of the new projects proposed for our area.  These 1,000 acres are going to be turned into a very desirable community and retail center. Cutalong will be Lake Anna's first Golf and water oriented community.  It is well into the planning stages and a number of people have put in their reservations for the opportunity to have a spot in this one-of-a-kind community proposed for the lake.  The biggest distinction is the planned championship golf course.  Although we are fortunate to have Tanyard Country Club in ...
Comments 4
By Kate Elim, Realtor 540-226-1964, Selling Homes & Land a
(Dockside Realty)
Who knew posting on Active Rain could do this for you.  It has created a whole new business for me and it has little to do with real estate. A short time ago I received a message from someone via Active Rain. A friend of mine will be retiring from the Federal Gov't after 39 years. She and her husband have a home at Lake Anna. I would like to gift a tree, plant or anything for her outside area that would be a hardy selection. I've never been to their home but believe it has mostly pines on the property..I'm sure you are familiar with that area. Thank you for your help and suggestions. Naturallly I followed up and that resulted in a few messages back and forth.  This morning I received the following: The time is approaching for my friend and I to purchase the tree that we would like to gi...
Comments 41
By Kate Elim, Realtor 540-226-1964, Selling Homes & Land a
(Dockside Realty)
Listing Agreements and Buyer Agency Agreements are different. Very often when the conversation revolves around the use of the Buyer Agency Agreement form the topic of the Listing Agreement comes up.  The argument is if you require a listing agreement you should require a buyer agency agreement. When owners are ready to put their property on the market it generally means they have lived in the area for a while.  They have had an opportunity to notice REALTOR® signs, advertisements, and offices.  Perhaps they even knows some agents personally or been referred to them by friends and neighbors.  The potential seller often has some background knowledge of some agents or at least offices.  Even then, many sellers interview 2-3 agents.  They have the opportunity to meet with them, learn more a...
Comments 2
By Kate Elim, Realtor 540-226-1964, Selling Homes & Land a
(Dockside Realty)
We are so fortunate to have a number of businesses around the lake that make life easier and more pleasant for us.  One of the best is Lake Anna Nursery.  It is the go to place when you need some color in your life or a new tree for your yard.  Maybe you are looking for some yard furniture to provide a little more seating for those guests that love any opportunity to come visit and spend some time out on the water and relaxing on the deck.  Having a nursery close at hand provides us with just about everything one could need or want to shape up our gardens.  Begun in 2000 by Steve and Linda Burdette, the business has expanded greatly through the years. The Burdettes had a successful business in Northern Virignia, the Green Giant Nursery on Silverbrook Road in Lorton before bringing their...
Comments 12
By Kate Elim, Realtor 540-226-1964, Selling Homes & Land a
(Dockside Realty)
Recently I read two posts dealing with the pros and cons of when and if to introduce the Representation Agreement I thought I'd add my perspective. I do not use a Buyer Representation Agreement. Many, many agents do. It is the way they wish to conduct their business.  One reason I do not is because people that are looking in my area, a lake community, are often second home buyers or those looking for retirement homes. They have all the time in the world to look and many are looking at other areas as well. In Virginia we must disclose agency relationships and the buyer does have to make a decision if they want us to represent them or not. I do have them sign that document which is different. It is required.  However, it does not bind them to me nor stipulate anything regarding compensat...
Comments 12
By Kate Elim, Realtor 540-226-1964, Selling Homes & Land a
(Dockside Realty)
It would be interesting to know what is the prevaling practice regarding pre-qualification of buyers.  Is there a difference in regional markets, markets for primary homes vs. second or retirement homes,   price ranges, or low or high end homes? Do you pre-qualify your clients yourself...not through a lender?  If you do have you always or has this current market changed the way you do business? If so, do you pre-qualify all of them? If you pre-qualify some of them but not all of them what is your rationale?  Do you believe that would be considered disccrimination? If you do pre-qualify, why do you?  Is it your company's policy or your policy?  Is it because you are not sure they know what they qualify for?  What type of advise do you generally give them?  When I began in real estate bac...
Comments 24
By Kate Elim, Realtor 540-226-1964, Selling Homes & Land a
(Dockside Realty)
Lake Anna has dual personalities.  One side is very private while the other is more public.  There is also a hot side and a cold side or a warm side and a cold side, or a private side and the main lake.  So  many names with so many connotations but what do they mean? The entire 13,000+ acre lake was created by and belongs to Virginia Dominion.  Virginia Dominion has an easement around the entire lake.  The North Anna River was dammed in order to create the lake and to build a nuclear plant.  The plant required cooling lagoons for the reactors and so Lake Anna was divided into two sections, one most often referred to as the private side which is made up of the three lagoons.    The land around the lake belongs to individual owners.  Those with waterfront property have exclusive use of th...
Comments 9
By Kate Elim, Realtor 540-226-1964, Selling Homes & Land a
(Dockside Realty)
Below are the water access homes, which includes those with water view that are not waterfront, currently under contract or settled between May 1, 2008 - June 30, 2008.  As you can see, a number of homes were reduced prior to receiving contracts.  There are some homes that were on the market, taken off, and subsequently re-listed.  In these cases the original price may be lower than the price when they were listed for the first time. If you happen to see one of the houses that you had been considering, do not give up hope.  We have a large inventory of water access homes and you still have an opportunity to find one that meets your needs within your price range. A favorite of mine is on the market.  This home has so many wonderful features it may become your favorite too.               ...
Comments 7
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