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Winchester, VA Real Estate News

By Mike Cooper, Broker VA,WV, Your Neighborhood Real Estate Sales Pro
(Cornerstone Business Group Inc)
The Winchester, VA real estate market continues to show signs of improvement, but it is in inches rather than leaps.  The current market has 513 available properties spread over the Winchester City and Frederick County area.  Of those 513 listings, 15% are distressed properties.  That's par with the April numbers, but it's a 3.3% drop from the beginning of the year.  The number of available listings have increased since April, and with the decline in distressed properties that's a positive trend.  Frederick County, which has more available properties, holds 16% of all distressed properties, while Winchester City has dropped to 13%. The more startling numbers come when you look at pending sales.  There are 321 pending sales in both Winchester City and Frederick County, VA.  The pending s...
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By Mike Cooper, Broker VA,WV, Your Neighborhood Real Estate Sales Pro
(Cornerstone Business Group Inc)
The housing inventory in Winchester, VA has fallen for the second straight month.  One month ago, active listings were at 571, but today, May 13th, active listings stand at 486.  That's good and bad for the local market. The lower number of available properties make the existing properties more valuable, but the limited number of properties available also frustrate and disappoint potential home buyers.  Granted, 486 properties is nothing to sneeze at, but not every buyer will want what's available in their price range. Location may play a factor in that frustration as well.  A beautiful house in Stephens City, Virginia may not meet a buyer's needs who needs to live on the north side of Winchester.  So, low inventory can be good or bad depending if you're the buyer or the seller. For sel...
Comments 4
By Mike Cooper, Broker VA,WV, Your Neighborhood Real Estate Sales Pro
(Cornerstone Business Group Inc)
I've blogged a number of times about a crazy contract I've had in escrow since February of this year.  It was an REO that looked like it would simple.  I do REOs all the time, so I wasn't concerned at all.  Over the past three months, some of the most bizarre things I've ever experienced in real estate have taken place on this sale. There were days I even wondered if this property would make it to closing, but that was never really in question.  Why?  Because I work with the "A Team of Real Estate" in Winchester, VA.  Because of the hiccups in this sale, we didn't really have solid closing date set.  The one in contract had passed, and we were in limbo. My good friend and closing attorney, Frederick (Derf) Vondy, emailed me Friday morning to give him a call as soon as I was up and runni...
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By Mike Cooper, Broker VA,WV, Your Neighborhood Real Estate Sales Pro
(Cornerstone Business Group Inc)
I had to write one more post today so my good friend, David Shamansky, could sleep tonight.  It appears that I ended my day with 666 posts, and that is rarely a good number to be stuck with (at least not in my world), but that's OK because I came across something really fun to blog about. The Winchester, VA area is full of Civil War information.  Our little community was a crossroads for so many things during the war.  We changed hands 72 times, many of the Union soldiers in the First Battle of Manasass left Winchester to join the battle and we had multiple battles right here. We had three battles of Cedar Creek, multiple battles of Kernstown and sporadic battles all around the area.  There were hospitials for both sides, headquarters for General Sheridan and Stonewall Jackson in the sa...
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By Mike Cooper, Broker VA,WV, Your Neighborhood Real Estate Sales Pro
(Cornerstone Business Group Inc)
I read Wanda Kubat-Nerdin's post on "Stop playing the blame game" and it caused me to reflect on a situation I am currently dealing with.  Maybe I shouldn't say I'm dealing with it, because my investor group and I are moving on to other ventures. There is a property in our community that this group zeroed in on.  I called the listing agent, and in typical fashion, she didn't answer the phone. I left a message.  She also didn't return the call.  It's a million dollar property.  I assumed she would like the commission on that one, but I guess not. I called again, no answer.  I left a message.  No response.  I called her broker.  He wasn't available.  The receptionist asked if I'd like to leave a message to which I said it didn't matter because she doesn't return calls.  Now, correct me if...
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By Mike Cooper, Broker VA,WV, Your Neighborhood Real Estate Sales Pro
(Cornerstone Business Group Inc)
My baby turns 20 on May 18th.  Ironically, my wife and I will be out of town during that time.  So, we had a family party yesterday to celebrate his birthday early.  What a treat.  We have been blessed with two boys.  They are so different, and yet they are very similar.  Both boys are very smart and inquisitive.  They are very polite to both young and old.  They are articulate and well spoken.  Best of all for someone with my zany personality, they are very funny. Wesley is a focused and determined young man.  He started a job last year (about this time) for Giant foods.  He has risen up the ranks in the past year, and now he is moving into the management side of the grocery business.  The boys are very different in the way they like to work.  I had a mentor years ago who said people b...
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By Mike Cooper, Broker VA,WV, Your Neighborhood Real Estate Sales Pro
(Cornerstone Business Group Inc)
The 85th Shenandoah Apple Blossom festival is in full swing in the Winchester / Frederick County area.  With all of festivities surrounding the annual celebration, one thing can easily be missed.  It's often the simple things that people remember the most.  Three young boys sitting on the grass watching a parade is a memory.  The first time you reach the top of a Ferris wheel is a memory.  The sound of a fire engine siren blaring is a memory.  The taste of a greasy Italian sub is a memory.  Throwing balls at a stack of weighted milk bottles is a memory.  The explosion of colors as fireworks fill the sky is a memory.  Watching the flawless coordination of elephants lifting a tent skyward is a memory.  The sounds, the smells, the constant activity and the people you shared them with add a...
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By Mike Cooper, Broker VA,WV, Your Neighborhood Real Estate Sales Pro
(Cornerstone Business Group Inc)
OK, NASCAR fans, you've got one more great reason to join in the fun of the 85th Shenandoah Apple Blossom Festival.  Rusty Wallace will be the Firefighter's Parade marshal this Friday evening.  How cool is that?  Wallace retired from racing in 2005, but he hasn't been far from the spotlight.  In 2005, he joined the ESPN channel as a co-host of "NASCAR Angels" program.  Who could offer better insights into the sport than someone who has racked up a lifetime of track wins. His on track win tally reached 55 major wins by the time he retired.  That netted the Wallace team a sweet $50 million in winnings over a 25 year career.  Join us for the festivies and say hi to Rusty Wallace and the long list of other celebrites who will be joining in.  
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By David Burrows, No Pressure, Just Seriously Devoted to Real Estate
(Classic Realty)
The 85th Shenandoah Apple Blossom Festival is taking place right now through May 6, 2012 in Winchester - Frederick County Virginia. If you would like to learn more, view a brief video and more, you can travel to the Apple Blossom website. Here is the link:Shenandoah Apple Blossom FestivalWhy not take a drive to Winchester Virginia - Apple Blossom Festival Time
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By Mike Cooper, Broker VA,WV, Your Neighborhood Real Estate Sales Pro
(Cornerstone Business Group Inc)
If you don't like roller coasters, don't read local market trends.  They might make you nauseous, or they might cause you to get really excited.  It's a toss up.  There has been a minor decline in overall available properties in the Winchester / Frederick County area. The total available properties as of May 1, 2012 is 571.  That is down 9 since April 2012.  That is not a substantial difference in a few weeks.  Short sales and REOs continue to vacillate around the same numbers as the April numbers.  In April, Winchester had 19 distressed listings, and Frederick County had 73.  May 1st shows only minor differences in distressed listings.  Winchester currently has 15, and Frederick County has 71.  No major moves. The nose bleed part of the local real estate ride is in the pending sales.  ...
Comments 6
By Mike Cooper, Broker VA,WV, Your Neighborhood Real Estate Sales Pro
(Cornerstone Business Group Inc)
Are you going to miss the next shift in real estate?  Maybe.  Much like the stock market, real estate is up, and real estate is down.  In the stock market, there are bull market cycles and bear market cycles.  Stocks are going up, or stocks are going down.  There are always segments where an industry takes a hit, hence the Dot.Com bust.  During the dot.com bust, energy stocks didn't take a hit, but dot.com companies were wiped out or lost a great deal of their value.  Construction materials didn't get wiped out with the dot.com companies.  The market was segmented.  That doesn't mean that the market doesn't take broad hits.  After 9/11, and in September of 2008, the stock market took a pretty sizable hit market-wide. In real estate, segments of the country drop, and segments grow.  They...
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By Mike Cooper, Broker VA,WV, Your Neighborhood Real Estate Sales Pro
(Cornerstone Business Group Inc)
There seems to be a lot of confusion as to whether we've hit the bottom of the real estate value collapse, has the foreclosure wave receded and is the market starting to recover.  I'd love to tell you I have answers to all three, but I don't.  What I do know is what I'm seeing in my market. During 2007 - 2010, whenever a wave of REOs was about to hit the local market, I would get a large volume of requests for BPOs from a dozen or so companies.  As the government got involved in the real estate market in 2009-2011, the number of local foreclosures began to decline along with the BPO requests. In the summer of 2011, I received an email from a colleague who works directly with a number of large banks.  She said, the shadow inventory we've been hearing about for the past two years is huge,...
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By Mike Cooper, Broker VA,WV, Your Neighborhood Real Estate Sales Pro
(Cornerstone Business Group Inc)
Another Pedal for the Pooches is in the can.  The Briggs Animal Adoption Center sponsors the annual event as a means of support for their facility.  The center is a no-euthanize facility.  Their philosophy is summed up in this statement: "Companion animals are sentient creatures who have intrinsic value in and of themselves. Therefore, our stewardship includes sanctity for their individual lives, and we will not participate in the killing of one animal in order to 'make room' for another animal. But rather, we will remain committed to each animal that comes into our care until such time as an appropriate adoptive home can be found, because this is part of the humane solution to ending animal suffering." The annual cycling event is one of many fund-raising events the facility has been sp...
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By Mike Cooper, Broker VA,WV, Your Neighborhood Real Estate Sales Pro
(Cornerstone Business Group Inc)
The United Bank Bloomin' Wine Fest begins at 3:00 pm on Friday, April 27th at the Old Town Mall in Winchester, VA.  Fifteen vineyards will be participating this year.  There will also be food vendors throughout the both days. The downtown walking mall will become the storefront for 30 artisans and vendors providing their creations.  If you're in the market for some one of kind jewelry, bags or pottery, this is the place to be.  There will also be local artists showing and selling their works on the Mall.  The gates open at 3:00 pm on Friday and closet at 10:00 pm.  Wine tasting ends at 9:30 pm, but there is good news.  You can take unopened wine home by the bottle or by the case all the way through the event.  There are two wine gardens providing live entertainment throughout both days....
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By Mike Cooper, Broker VA,WV, Your Neighborhood Real Estate Sales Pro
(Cornerstone Business Group Inc)
The 85th Shenandoah Apple Blossom Festival is coming to Winchester, VA, April 27 - May 6.  If you've never joined in the fun of the Apple Blossom festival, you've really got to add it to your calendar.  It's quite a party. The festival is full of fun events, celebrities and parades.  Mario Lopez will be honoring us as the Grand Marshall of the festival this year.  Along with Mario Lopez, you can also meet the new Queen Shenandoah, Jasmine "Jazz" Dorsett, daughter of Tony Dorsett.  Doug Flute will also be joining us for the Sports Breakfast on Saturday morning.  Lauren Green, Fox News religion reporter will be sharing at the Prayer breakfast.  Throughout the weekend there will be numerous luncheons, breakfasts and dinners filled with celebrities. Don't hold your breath as you read this p...
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By Mike Cooper, Broker VA,WV, Your Neighborhood Real Estate Sales Pro
(Cornerstone Business Group Inc)
You are the face of real estate.  When someone wants to sell or buy a home, they normally look for an agent.  Ironically, in our "news never sleeps 24/7" information age, many sellers and buyers are hiding in the tall grass waiting for signs of better days.  In his article, "Case Shiller shows U.S. home prices hit fresh lows in February," Steve Schaefer reveals that home prices dropped 0.8% in the majority of the 10-and-20 home composite used by Shiller.  That drop was from January 2012, not a year ago.  A near one point drop could bring panic to a homebuyer who is concerned that his purchase will be worth less by the end of the year. This is where you come in.  Local data must always trump national news.  The Shiller findings were mostly in major cities.  Ironically, it was only in 10 ...
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By Mike Cooper, Broker VA,WV, Your Neighborhood Real Estate Sales Pro
(Cornerstone Business Group Inc)
Foreclosures in Winchester, VA are falling.  The number of foreclosed homes have fallen each month since the January 1, 2012.  The city of Winchester is up 3 foreclosures since April 1st, but that is a nominal increase.  It does not show a trend, but it is worth watching. The Winchester / Frederick County area have 34 foreclosures available as of April 21, 2012.  Frederick County has 27 foreclosures, and Winchester only has 7.  Ironically, Winchester is up 43% since the beginning of the month. Price ranges for foreclosures in the Winchester / Frederick County area vary widely.  Frederick Count foreclosures vary from $38,000 - $409900.  Winchester City foreclosures vary from $60,000 - $173900. If you're thinking a foreclosure might be a great way for you to buy a great home at a large di...
Comments 3
By Mike Cooper, Broker VA,WV, Your Neighborhood Real Estate Sales Pro
(Cornerstone Business Group Inc)
Real estate in Winchester, VA has only seen minor changes during the first three weeks of April.  The trend for 2012 has been a decline in distressed properties and an increase in fair market properties.  At the beginning of April, there were 582 available listings.  Today, there are 580 available listings.  That is a minor change, but it does hint at a slowing of the market. Winchester has increased in foreclosures from 4 on April 1 to 7, three weeks later.  That may seem like a small number, but it is a 43% increase in lender owned properties.  Short sales in the city of Winchester have also increased by 1 from 11 on April 1st to 12 today. Frederick County has seen a similar trend.  Foreclosures are up 18% from 27 to 33.  Short sales have followed an inverse trend from 43 to 40 from A...
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By Mike Cooper, Broker VA,WV, Your Neighborhood Real Estate Sales Pro
(Cornerstone Business Group Inc)
How much water can safely be in your electrical system?  During the housing boom of the 2000s, many contractors didn't take the time to compact the dirt around newly built homes.  Now, underground electrical services are starting to come apart at the meter which allows water to enter the conduit providing service to the home. How much water is too much?  Any water is too much.  Before you panic, realize that some electrical lines are coated with a water resistant coating.  The most commonly used XHHW insulation is a polyethylene coating which will protect the wires from heat and moisture.  That isn't to say that having your electrical service floating in water is safe, because it's not.  But, it is something you will want to have looked at and repaired. While repairing one this morning,...
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By Mike Cooper, Broker VA,WV, Your Neighborhood Real Estate Sales Pro
(Cornerstone Business Group Inc)
We're only two days into a new week, and I'm liking what I'm seeing.  My real estate life is going great guns, and I'm thrilled with that, but the other side of my life is the one I'm talking about today.  My electrical contracting business is doing well.  We have a great client base, and it continues to grow. This week, I've had two calls from former clients.  In both cases, the clients found out it would be a while before I could get to them, and each one said, "No problem.  It's worth the wait."  A few years ago, I had a client wait a year for me to get to him.  He didn't mind a bit.  That is so very humbling, but it teaches me a great lesson.  Good service is remembered. How does that translate to our real estate careers? Be better than your clients expect. Give better service than ...
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