Wells Fargo Changing Short Sale Practices I received an update this morning from The American Banker Report  in their article"Wells Fargo Curtailing Short Sale Extensions" that Wells Fargo will no longer allow extensions on their approved short sales.  Out of the last dozen or so short sales that I have closed, none of them have been able to close by the original approval date.  Every single one has required an extension for one reason or another - particularly when there are 2 mortgages on the property.  I am interested to see how this is going to play out.   So here is the real question, how much money is it going to cost us as tax payers and the banks in additional attorney's fees to give an extension on a short sale?  If a week to 30 day extension is going to save the bank $20-30,00... 10/04/2010

I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date.    Housing Inventory Snapshot September 30, 2010   Average List Price Median List Price Average Days On Market Winchester City, VA Single Family under $250K $152,829 $149,900 108 Single Family over $250K $396,959 $360,000 116 Condo/Townhome under $300K N/A** N/A** N/A** Condo/Townhome over $300K N/A** N/A** N/A** Frederick County, VA Single Family under $500K $287,606 $284,900 144 Single Family over $500K $770,281 $640,000 189 Condo/Townhome under $300K $178,460 $175,000 108 Condo/Townhome over $300K $377,279 $344,900 141 Clarke County, VA Single Family under $500K $305,798 $299,997 141 Single Family over $500K $1,749,3... 10/03/2010

The Not So Secrets of Success! I am always thankful of the opportunities that come my way and I thoroughly enjoy my responsibilities of mentoring the realtors that I work with.  From time to time, agents come to me and ask me "What am I doing wrong?  I can't seem to find success?".  They come to me defeated and need help in picking themselves back up.  This is why I am writing this blog.  I LOVE to see people be successful.  There is nothing better to me than guiding a struggling person on how to take charge of their destiny.  With that being said, I write this blog in love and truth because THE TRUTH WILL SET YOU FREE! Marsha Richards, a precious friend of mine and owner of "A Tea for All Reasons" is one of the most beautiful people that I know.  Her professional, polished image always... 09/17/2010

Metropolitan Regional Information Systems, Inc. (MRIS), a leading provider of real estate information technology and the largest multiple listing service in the nation, announced that the Mid-Atlantic Housing Market showed signs of moderate recovery in the first quarter of 2010. MRIS today released its 2010 First Quarter Trends in Housing Report, a joint publication of MRIS and Delta Associates. Winchester City, VA,  had the second highest Y-O-Y increase in Median Sold Price with a nearly 55% increase (from $132,600 in 2009 to $205,000 this year).  While the Total Units Sold dropped by 20% (from 25 units last year to 20 this year), the Average DOM also dropped by nearly 43% (from 124 in 2009 to 71 in 2010). In the major cities of the MRIS region, as well as in some frequently asked abo... 05/24/2010

It is time again for the Annual Apple Blossom Festival, in Winchester Virginia. This will be the 83rd year for the festival. There are lots activities going on all week, including concerts, parades, car shows, lunches, carnaval, wine festival, games, food, you name it! This years Grand Marshall is Val Kilmer. Below is a link to the official website, where you can see everything the Apple Blossom Festival has to offer, and you can buy tickets for some events right on the website. Hope to see you there. Thanks Aaron   Apple Blossom Festival   Aaron Poling Long & Foster 304-283-0214 www.aaronpoling.com www.aaronpolingsblog.com   04/23/2010

It's definitely starting to be the time when buying Real Estate Leads in the Winchester area is the correct thing to do. We have seen a large increase in people moving to the area, which will only increase through the spring and into summer months. We are witnessing a huge increase in the amount of prospective home buyers that have contacted us just in the last few months. These people are contacting us requesting information on relocating to the area, or want more information in a possible home purchase. We do need a Realtor to assist these prospective home buyers. Most of these families and individuals are out-of-state buyers, and do need help! Kindly call us at (800) 900-2807 to learn how we can bring you 10 - 25 potential home buyers every month for the Winchester, Virginia area. O... 04/08/2010

I just watched this video from NAR on the changing short sale guidelines beginning April 5th.  I'll be interested to see how this all works out and the actual practicality of it all but I'm thrilled that we are starting to see some much needed changes.  I currently have a short sale with Bank of America that has been under contract since August and we still do not have a bank approval.  Definately watch this video!  It's good stuff!   http://link.brightcove.com/services/player/bcpid1785312249?bclid=1740033302&bctid=62463754001 Happy Selling!!! 02/26/2010

   If you have made the choice to move forward with bankruptcy, you will need to be prepared to open your bank account, checkbook, and any other financial statements to your chosen attorney and several others.   Do yourself a favor and find an accordion folder or a three ring binder to organize your finances for review.  Think of this as a school project YOU NEED TO GET AN A+ on so you do not have to go to summer school!   The more prepared you are the better off you will be in the long run! Step A: WHAT YOU HAVE!   Make a list of your personal assets and what you think they are worth.  Ebay is a good indicator of this.  Your biggest asset is your home.  To determine value visit www.realtynegotiations.com  and click on the "Your Home's Value" option.  Asset Information: Real Estate equi... 02/09/2010

Millions of Americans are considering this option because of the current state of the economy and the effect it has had on their wallets AND their credit.   Bankruptcy may seem like the easy answer, but IT is a long process that will stay with you and your family for years to come.   In my next few posts I will be going over basic information, but ALWAYS check with a local attorney for state specific details.  1.) HOW DID I GET HERE?  You will need to seriously think this out and document it in a time line fashion.  This will not only be helpful with preparing to file, but it will give you a "Script" to use. WHY?  You are asking to be forgiven of several thousand dollars of debt, you will need to explain this to several parties and most importantly a judge. 2.) STOP USING YOUR CREDIT CA... 02/08/2010

I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date.    Housing Inventory Snapshot January 29, 2010   Average List Price Median List Price Average Days On Market Winchester City, VA Single Family under $500K $198,039 $151,800 139 Single Family over $500K N/A N/A N/A Condo/Townhome under $300K N/A N/A N/A Condo/Townhome over $300K N/A N/A N/A Frederick County, VA Single Family under $500K $293,141 $289,990 165 Single Family over $500K $780,807 $645,000 183 Condo/Townhome under $300K $183,117 $174,990 116 Condo/Townhome over $300K $404,770 $350,000 211 Clarke County, VA Single Family under $500K $304,909 $299,900 153 Single Family over $500K $1,854,604 $1,150,000 266 Condo/... 02/01/2010

Most homeowners would prefer to know where they're going to live before selling their current home. However, given current market conditions, you should buy before selling only if you can qualify to buy the new house and keep the older home should it not sell quickly. Most homes sell if they are priced right for the market. But, to be on the safe side, be extremely conservative in estimating the probable sale price of your current home. And, factor in the possibility that it will take longer than you anticipate to sell. An option for some sellers is to keep the current home as an investment. If you plan to take this approach, be sure to consult with your tax advisor regarding the tax consequences of converting a single-family residence to a rental property. To avoid the risk of falling... 01/30/2010

What?  Yes!   An agent on desk duty actually asked me that when I was phoning in to set up a showing.   Apparently it was the same condo that she was preparing to show her client and she insisted that I was honest with her and let her know my clients name!      Really?  Seriously?   I assured her that it was just a coincidence, and as I hung up the phone I had to ask myself "Where was her Buyer's Agreement?"       For perspective clients and working agents we must have an agreement to outline our expectations and goals during our transaction.  Remember to be successful you need to know the direction your headed.  Make sure that your agreement is your map, and that you know which agent is driving you towards your destination.    Its not our client's job to make sure that they use us,  it... 09/08/2009

   Daily I subscribe to several financial and industry related blogs.  My current favorite is a video blog www.thinkbigworksmall.com, where two mortgage brokers ( and video marketing entruprenuers)  sarcastically discuss and debate current events and politics affecting our business.   Their topic today compared the National Association of Mortgage Brokers to the National Association of REALTORS.    The major difference?  Our association though costly because of the requirement to join state and local associations to join is effective.  To be honest,  we are basically forced to join all of the associations anyways  to have access to the MLS and access to show properties.   If you want to play the game, then you have to pay your dues and follow the code of ethics.   Our membership carries... 08/04/2009

OK so its not my most original post, but I wanted to give a shout out to our crew's favorite places for lunch in the Frederick County Virginia area. My Pick-  Napoli's Italian Sub Shop-  Yum don't bother if you are a vegetarian!  I love the variety of meats and the great breads they use to construct their authentic Italian subs.   Its lunch at its best, simple, fast and tasty! 540-535-0019 Wendy's Pick-  Pickle's Deli at 201 E. Boscawen Street . . . right across from the court house.   Their soups and sandwiches are fresh and I LOVE the homemade desserts.    Let me just say right now that their coconut cake is to die for!     Call for a pick up order at 540-722-0091 or fax your lunch bunch request to 540-722-0089. Doug's Pick-  Old Towne Cafe:  If you want some thing tasty and are throw... 06/23/2009

May 29th  U.S Housing and Urban Development Secretary (HUD) Shaun Donovan announced that the $8,000 tax credit offered through the American Recovery and Reinvestment Act of 2009  can now be used towards the 3.5% down payment OR closing costs for FHA loans!    The tax credit currently only could be accessed after the purchase of the home, but this new revision will allow first time home buyers to immediately put their credit to work towards the purchase of the home.   This new found flexibility will open up doors for even more first time home buyers who were struggling to save the initial 3.5% down payment and additional closing costs.       Currently the FHA allows parents, employers and other government entities to contribute towards the down payment, but now with the tax credit  poten... 06/01/2009

This wonderful town's rich heritage is reflected in its many historic buildings, Shenandoah University, Winchester Medical Center and the Civil War battle sites throughout the surrounding area. A former winner of the prestigious "All-American Community" award, Winchester is home to approximately 25,000 residents known for civic pride, community spirit and dedication to their town's progressive growth. The "Top of Virginia" is situated in the heart of the picturesque Shenandoah Valley, about 65 miles northwest of Washington, D.C. Located in this beautiful pastoral setting is #FrederickCounty and within the county lies #Winchester, #Virginia the oldest English city west of the beautiful Blue Ridge Mountains. Known as the "Apple Capital," the city is the home of the annual Shenandoah Apple... 04/30/2009

 We are approaching my favorite weekend of the year, the annual Apple Blossom Festival weekend. It isn't in my home state of West Virginia but it is only about a fifteen minute drive south on I81 from the West Virginia border. There are lots of activities for everyone. It's a great weekend to check out the area. Its also a great time to do some networking. That's what I plan on doing! Below I have outlined some of the major events going on this weekend but I suggest logging on to www.thebloom.com so you don't miss anything.       Friday, May 1st   11:00am Bloomers Luncheon Men's Commonwealth Luncheon   11:45am Stag Luncheon (ill be at this one)   5:00pm Firefighters Parade   9:00pm Fireworks Display   Saturday, May 2nd   10:00am Weekend in the Park   1:30pm Grand Feature Parade   8:00pm... 04/26/2009

      I'm a true believer in January being a fabulous month for renewal, focus and optimism!  My January issue of O Magazine is already showing signs of wear, and I'm lovin' it! For a short time and for FREE, Oprah and Suze are generously giving us access to an action plan for 2009.  Do you think you can gain from this?  I know I can. This tool can literally help you work towards a financial health and discipline which can lead to you buying a home or even better afford the one you already have!  With all things, it's what you make it!  Download Suze Oreman's 2009 Action Plan. Thank you, Oprah!   Below is a video of Suze Oreman discussing a hot topic - ARM's!!!  You can catch her show or head on over to YouTube to see more.              All Content Copyright Protected © 2007-2009 Natali... 01/09/2009

One of the keys to making the home buying process easier and more understandable in today's world is planning. This will help anticipate requests from lenders, lawyers and other professionals, and all the foreclosures, buyers will move more easily through the home buying process.As for closing costs, in today's buyers markets, you can negotiate an offers that requires the owner to pay some or all of the settlement expenses.   Steps in the Mortgage Loan Process You walk into the local bank and ask to see a mortgage specialist. Palms sweating, heart leaping – you are about to apply for what may be the largest loan in your life. A lot is riding on an approval: the ability to purchase a home, a new start in life, or the first steps toward a life that is moving in a new direction. You probab... 12/31/2008

NEW FEATURES ADDED TO WINCFOOD.COMA new feature has been added to WincFood.com. You can now create an account by registering. Registering is totally free. That’s right, FREE. By doing so, you will be eligible to win drawings for gift certificates to local restaurants. All you have to do is register and login. If you have not logged in, in over a month you are not eligible. So please be sure to sign up and login frequently. Click Register to register. For additional information about registering please refer to, Why Register? Also please review our Terms of Use and our Privacy Policy. Come sign up at Winchester Va Restaurants Cheers, Mark 12/05/2008