Hampton Roads Real Estate BlogRecently posted or modified blog postshttps://www.ziemerrealestate.com/blog/Copyright ZiemerRealEstate.com2024-01-16T12:23:06-07:00tag:ziemerrealestate.com,2012-09-20:189212024 Housing Forecast<img src="https://assets.site-static.com/userfiles/2576/image/cold_smooth__tasty..jpg" width="2240" height="1260" />
2024 Housing Market Forecast
There are a number of economic indicators that we look at when trying to forecast what the real estate market will do in the next 12 months. So let’s look at each of them and see where we stand.
1. Interest Rates: Changes in interest rates can significantly impact the affordability of mortgages, affecting both homebuyers and sellers. Lower interest rates often stimulate demand in the real estate market.
POSITIVE: Coming out of a year with the highest interest rates we have seen in over 20 years. Fewer sales, fewer listings and fewer buyers all because interest rate shock was being felt. As we enter 2024, interest rates are trending down. Some economists predict we may see them drop into the low 6’s by the end of the year. While this is still a far way off from the record low rates we saw for over a decade, this is a very normal range of rates historically speaking and buyers will just need to accept that this is now the new normal.
2. Employment and Income Levels: The overall employment rate and income levels in an area can affect people's ability to buy homes. Strong job markets and rising incomes generally contribute to a healthier real estate market.
POSITIVE: We are now at 3.7% unemployment in the United States. That is back to pre Covid levels. When people are employed, they have the money to buy homes.
3. Consumer Confidence: The confidence that consumers have in the economy can impact their willingness to make significant financial commitments, such as buying a home. High consumer confidence often correlates with a more active real estate market.
POSITIVE: Consumer confidence is trending upward as we move into 2024. While it is not at pre Covid levels we are moving in the right direction.
4. Housing Starts: The number of new housing units under construction can indicate the supply and demand balance in the market. An increase in housing starts may suggest growing demand, while a decline could signal oversupply.
NEUTRAL: One of the biggest issues affecting the market the last 5 years has been lack of supply of homes for sale. Builders just can’t build fast enough to keep up with the growing number of homebuyers. The number of new homes being built has remained consistent but has not increased which leads me to believe we will continue to see multiple buyers bidding on the same home as we get into the spring market.
5. Inflation Rates: Inflation can influence interest rates and the cost of living. Moderate inflation can be positive for real estate, but rapid inflation might lead to higher interest rates, impacting affordability.
POSITIVE: Inflation rates were the driving force behind the interest rate spike. Inflation has been trending down and is now more than half the amount that we saw in 2022 and 2023.
6. Demographic Trends: Population growth, migration patterns, and demographic shifts can influence the demand for housing. Areas experiencing population growth often see increased demand for real estate.
POSITIVE: The Hampton Roads area has not seen any declines in population growth since this data started being tracked. The trend is assumed to continue moving forward. The more people the more demand for housing.
POSITIVE: Coming out of the inflation years the stock market has switched over from a bear market to a bull market. This is a positive for the housing market.
SUMMARY
All signs point to a good year in real estate. Great time to sell. Good time to buy as interest rates continue to dip. We just need more inventory which is where you can help. Have you wanted that bigger home with a pool? Perhaps you need to downsize and get rid of the huge yard and costly maintenance bills. We can help with that. Give us a call.
<br /><br /><br /><br />2024-01-16T11:15:06-07:002024-01-16T12:23:06-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:18128Holiday Mini Photo Sessions with the Ziemers<img src="https://assets.site-static.com/userfiles/2576/image/Ziemer_Real_Estate_Invites_you_to_A_holiday_photo_session_November_11_2023_Slots_available_between_930-1130am_THoroughgood_House_1636_Parish_Road_Virginia_Beach_23455.jpg" width="2000" height="1294" />2023-11-01T10:24:48-07:002023-11-01T10:28:08-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:17901Why buying a home with high interest rates might be a good idea<img src="https://assets.site-static.com/userfiles/2576/image/The_cost_of_waiting_for_interest_rates_to_drop_to_buy.jpg" width="800" height="1200" />
In the world of real estate, the prevailing interest rate environment has a significant impact on the decisions of potential homebuyers. While it may seem counterintuitive, buying a home in a high-interest rate environment can actually be a strategic move that comes with several advantages. In this blog post, we will explore why purchasing a home when interest rates are high can be a wise financial decision.
Building Equity Faster
Higher interest rates can lead to lower home prices, as they tend to cool off the real estate market. This means you might be able to purchase your dream home at a more affordable price. With a lower initial home price, you'll have a smaller mortgage balance to pay off, which allows you to build equity in your home more quickly. As the real estate market eventually rebounds and home values appreciate, you'll benefit from a greater return on your investment.
Reduced Competition
In a high-interest rate environment, fewer buyers are entering the housing market. This reduced competition can work in your favor. Sellers may be more willing to negotiate on price, closing costs, or other terms to attract buyers. This gives you an upper hand during negotiations, allowing you to potentially secure a better deal and terms that are more favorable to you as a buyer.
Potential for Future Rate Cuts
While it may seem that high-interest rates are detrimental to homebuyers, it's important to remember that interest rates fluctuate over time. When interest rates are high, there is the possibility that they may decrease in the future. If this happens, homeowners who locked in their mortgage at a higher rate may have the opportunity to refinance at a lower rate, reducing their monthly mortgage payments and saving money over the long term.
Long-Term Investment
Real estate is often viewed as a long-term investment. In a high-interest rate environment, the initial financial sacrifice can lead to substantial savings over the life of your mortgage. As interest rates increase, the interest portion of your monthly mortgage payments may be tax-deductible, providing potential tax benefits and further enhancing your overall financial picture.
Conclusion
While high-interest rate environments might initially appear to be unfavorable for homebuyers, they present unique advantages for those who take a strategic approach to homeownership. The opportunity to build equity faster, face reduced competition, and potentially benefit from future rate cuts are all compelling reasons to consider buying a home in such an environment. If you're contemplating homeownership, don't let high-interest rates deter you. With careful planning and wise financial decisions, you can turn what seems like a challenge into a significant opportunity for your future financial well-being.2023-10-12T08:01:28-07:002023-10-12T09:15:56-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:17400Annual Pumpkin Picking<img src="https://assets.site-static.com/userfiles/2576/image/WE_WILL_BE_HERE.jpg" width="1080" height="1080" />
<img src="https://assets.site-static.com/userfiles/2576/image/RSVP_HERE.jpg" />2023-09-05T11:57:53-07:002023-10-12T07:44:45-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:15780How to avoid a bidding war when buying a home<img src="https://assets.site-static.com/userfiles/2576/image/How_to_avoid_a_bidding_war.jpg" width="2240" height="1260" />
Buying a home can be a competitive process, especially in a hot real estate market. Bidding wars can quickly drive up the price of a property and make it difficult to secure the home you want. Here are some tips to help you avoid a bidding war when buying a home:
Get pre-approved for a mortgage: Having a pre-approval letter from a lender can show sellers that you're a serious buyer with the financial resources to purchase the property. This can give you an edge over other potential buyers who haven't been pre-approved.
Set a budget and stick to it: Determine your budget before you start looking at homes and stick to it. Don't get caught up in the excitement of a bidding war and overextend yourself financially.
Make a strong initial offer: Make your first offer a strong one. This can show the seller that you're serious about buying the home and may discourage other potential buyers from entering a bidding war.
Add contingency clauses to your offer: Adding contingency clauses to your offer, such as a home inspection contingency, can help protect you from unexpected costs and give you an opportunity to renegotiate the terms of the sale if necessary.
Be flexible with your closing timeline: If you can be flexible with your closing timeline, this can be an attractive feature to a seller. It can make the transaction smoother and less stressful for everyone involved.
Work with an experienced real estate agent: A knowledgeable and experienced real estate agent can help you navigate the buying process and may have insights into the local market that can give you an advantage when making an offer.
2023-04-13T11:39:07-07:002023-04-13T11:52:11-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:12824Summer Kickoff Events2022-06-16T09:09:59-07:002022-06-16T09:10:36-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:10658Annual Pumpkin Picking Client Appreciation Event<img src="https://assets.site-static.com/userfiles/2576/image/SAVE_THE_DATE.jpg" width="600" height="300" />
This is one of our favorite client events. This year we have a professional photographer taking fall family portraits so come dressed for your free photo session. <br />Here are the specifics about the event. Let us know if you can make it!<br />Date: Sunday, October 24th, 2021<br />Time: 1- 4 PM (photo's from 1:00 to 3:00)<br />Where: Greenbrier Farms <br />Address: 225 Sign Pine Rd. Chesapeake, VA 23322
RSVP to eric@ziemerrealestate.com2021-09-17T09:45:00-07:002021-10-12T10:27:43-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:7924Navigating this challenging market<img src="https://assets.site-static.com/userfiles/2576/image/frustrated.jpg" width="577" height="324" />
HOW TO NAVIGATE THIS CRAZY MARKET
Pretty much everyone knows that we are in a sellers market. What I mean by that is, we have way more buyers than sellers. A home hits the market and within 24 hours the home has 7 offers. In order to win, buyers are offering above asking, no inspection and guaranteeing the appraised value. That is a challenging market for a buyer. Especially a buyer that doesn't have a ton of cash to compete against the buyers that do. Cash is a safer bet for sellers so if given the choice between a 100% financed offer and an offer that has a substantial amount of money down or in some cases is all cash, a seller will take the cash offer all day long.
We talk to homeowners everyday that all say the same thing. "I would love to sell and buy a new home but I don't think I can find anything"
DOES THIS SCENARIO SOUND LIKE YOU?
Your house is now worth 10's of thousands more than a year ago and it will sell quickly. BUT.... where are you going to go once you sell your home. No one wants to be homeless or have to move into a rental while they find a home to buy. The thought of moving in with family if you can't find a home is much worse than just sucking it up and staying in your current home. Even if you do find the perfect home, you will need to have a sale contingency in place to afford to buy the new home. If there is a non contingent buyer then you are never going to be able to compete with them. So what do you do? What are some strategies to minimize your fears and risk?
WE HAVE SOLUTIONS FOR YOU
We are in the business of solving problems. What are the risks you see with selling and buying in this market? We talk to homeowners all day long and the fears they have are pretty much universal. We have worked hard to mitigate those risks and help our clients achieve their goals. Here are some strategies we are using with great success. We hope this gives you the courage to list your home knowing that we will make sure you don't end up homeless and that you get a fair deal.
RISK #1 - I WON"T HAVE ENOUGH TIME TO FIND A HOME AFTER MINE SELLS
SOLUTION - THE SELLER RENT BACK
In this scenario, we will list your home and get your home sold with a normal closing schedule of 30 to 45 days from contract ratification. Since you as the seller are in the driver seat for negotiations and you can dictate the terms of the contract that best suit your situation. What is it that you need to alleviate the anxiety of not being able to find your next home? TIME. You need additional time to find that perfect home. In this scenario, you are able to get your home sold, then rent the property back from the buyer for a negotiated amount of time (2,3,4 months or more). Once we find your next home, we are able to negotiate a non contingent purchase and you are able to use the proceeds from the sale to make a competitive offer.
RISK #2 - HOW DO I KEEP FROM COMPETING AGAINST 10 OR MORE OTHER OFFERS WHEN I FIND A HOME I LIKE?
SOLUTION #1 - OFF MARKET SELLERS
The short answer is we will find off the market listings for you - Part of the frustration that buyers have right now is feeling like they are competing with too many buyers to get a home and overpaying. Submitting strong offer after strong offer only to be rejected time and time again. Well it doesn't have to be that way and we are here to help. There are 10's of thousands of homes in our area. A portion of which would be willing to sell but haven't contacted an agent or made the decision to list yet. We have a tried and true strategy to identify these sellers and negotiate on your behalf to get you your new home for a fair price all without competing against multiple other buyers. We aren't afraid of doing the hard work to identify these properties and making contact. The MLS is a great tool but in a market like we are in, we have to go beyond just what is on the public market and find the homeowners that are thinking about selling their home.
SOLUTION #2
FIND A FIXER UPPER AND CREATE YOUR DREAM HOME
If you don't want to compete with 100's of other buyers, buying something that needs some updates is a great way to avoid the bidding wars. Did you know that we love home renovations? We are self professed home renovation junkies. We love finding diamonds in the rough and turning them into the beautiful and functional homes that they were meant to be. We have the vision to help you create your perfect home out of something that most buyers would not even give a second look. If you are willing to trust us to make your dream home a reality you will be competing against very few buyers and also be able to make the home just the way you want it. We will walk along side you the entire process and help you create a scope of work and get contractors in to give you quotes. You can also do all this without paying any cash out of pocket. There are loan programs that allow you to buy a home, renovate it and then roll the entire cost into one mortgage. We have experience navigating this process and it is a great tool to have if saving your cash for other expenses is important to you. It doesn't have to be hard or scary with us helping you.
IS YOUR AGENT WORKING HARD OR HARDLY WORKING?
We don't like to disparage people within our industry but in a market like we are in, we want homeowners to know that your agent should be working harder than they have ever worked before to find properties for you. Both on and off the market. If they aren't, you have the freedom to move on. We spend 1000's of dollars on identifying off the market listings so that our clients are the first to know. Wouldn't you like to be the first to know about a new listing that hasn't even hit the market? We can do that for you. At the end of the day, we are in the relationship business and we will do whatever we need to do to make sure you are happy.
Give us a call if you would like someone who will work hard for you.
757-639-96272021-05-19T07:23:00-07:002021-05-19T09:05:37-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:7763Strawberry Picking<img src="https://assets.site-static.com/userfiles/2576/image/Ziemer_Real_Estate.jpg" width="1654" height="1654" />2021-04-21T11:26:00-07:002021-05-19T08:48:07-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:72912021 Market Update - Winter Market<img src="https://assets.site-static.com/userfiles/2576/image/Market.jpg" width="2240" height="1260" />
Market Update - Winter 2021
Well 2020 was quite the year in real estate in the Hampton Roads area. The theme for the year could be summed up in one word... INVENTORY. Lack of inventory and low interest rates made buying a home a challenge because simply put there are more buyers than sellers. As we finished up the year we started seeing multiple offers on homes which put the sellers in the driver seat during the negotiations.
As we entered 2021, the lack of inventory and the abundance of buyers has only gotten worse. This has made the first quarter of 2021 one for the record books as far as how quickly houses are selling and how much they are selling for. We are seeing in some cases 7 to 15 offers coming in in the first few days and in order for buyers to stand out from the competition, the offers are coming in higher than asking price. This is what you call a sellers market on steroids. As we move into spring, we anticipate that this will balance out some as more houses hit the market but with interest rates being low for the foreseeable future, there is no reason to think that 2021 won't be a year of extremely short market times and record level value increases for sellers.
Why is inventory so low?
Many homeowners would love to sell their home and take advantage of the market and also get a bigger home. They are afraid that they will end up homeless after they sell and can't find their next home. This perpetuates the lack of inventory. We need resale homes on the market because new construction just can't keep up.
How can a seller take advantage of this market and still find a home on the purchase side?
Timing the market to sell when inventory is low and demand is high is hard to do but when the stars align there are riches to be made. The challenge that many sellers have is finding something to purchase after they sell their home. What many sellers don't realize is that they are in the driver seat in the negotiations in this type market. Since one of a sellers biggest risks is not having enough time to find a home to buy then we will negotiate an extended closing or a seller possession agreement where the seller stays in their current home for some amount of time after closing to give them time to find a home. The other risk is competing offers from other buyers. Even if they have the extra time, will they be able to compete against all the other buyers out there. We have strategies in place that help us find homes before they hit the market. When we do this it takes out the competition of other buyers and allows us to negotiate directly with the seller and get our clients a fair deal.
If you are in this situation and are frustrated, let us know and we can help. 2021-02-10T12:53:00-07:002021-02-10T13:23:54-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:67992020 Real Estate Market Review2020 Real Estate Market Review
2020...... What else do I need to say. A year of fear and chaos. Well here we are in 2021 and as much as no one wants to look back at 2020, in the real estate world it is always good to look at where we were to try and figure out where we are going.
In February of 2020, we had no idea what the rest of the year would bring for our real estate business. We were down right fearful that the bottom would drop out and we would be in uncharted territory. Well, thank goodness that wasn't the case. While many sectors of our economy took a beating and many families lost their livelihoods, real estate had an overall great year. March and April were slow. Everyone was trying to figure out what was going to happen. Then in May, families started to realize that they have to move forward with life and if buying or selling a home was a necessity, that is what they did.
Here is a summary of how the year ended up.
Inventory was down: There were almost 10% less homes on the market in 2020 than in 2019
Sales were up: There were 10% more homes sold in 2020 than in 2019.
This is what you call a sellers market or an unbalanced market. The proof of that can be seen in the data.
Sales prices are up 7.5% year over year (great for sellers)
Market Time is down from 25 days to 15 days (great for sellers)
Sales price to list price is just below the 100% mark (great for sellers)
That is what you call a sellers market. Lack of inventory and strong buyer demand is causing homes to sell quicker and for more money.
Why is the demand so high?
Interest rates are the main reason. Interest rates continue to sit in the 3% range. This provides buyers with more buying power along with the fact that renting a home or apartment is often times more expensive.
What do we need to see for the market to be more balanced?
We need one of two things to happen. Interest rate increases would take some of the buyers out of the market to buy a home. Increase in supply would give the buyers what they are looking for.... Homes to buy.
What do we see happening next year?
I think that demand will remain strong with interest rates not forecasted to go up by much if at all. I also think that with the shift to telecommuting, we will see more families decide it is time to get a bigger home to accommodate home offices and home schooling. We desperately need more homes on the market to meet this demand.
So how can the Ziemers help in this unbalanced market?
The fear for many of these sellers is that they will end up homeless if they sell because there isn't anything to buy. That is where we come in. We batted a 1000 this year helping clients navigate a sale and purchase in a very challenging market. We have strategies in place to find homes that haven't been listed yet. We can do the same for you. If you want to make a move, don't let the market scare you. We can help.
2021-01-05T13:07:00-07:002021-01-05T13:35:16-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6680Assisted Living Communities in Virginia Beach<img src="https://assets.site-static.com/userfiles/2576/image/Untitled_design_2.jpg" width="2240" height="1260" />
Virginia Beach is a great place to retire and every year we see more and more people chosing our area as their location to enjoy their golden years. One unfortunate part of retirement is often times having to decide what is the best care for their aging parents and family members. Virginia Beach has a quite a few options for a wide range of budgets. Our partners at www.assistedliving.org have compiled a list of the local assisted living facilities to help you navigate all the options available to you.
<a href="https://www.assistedliving.org/virginia/virginia-beach/" target="_blank">https://www.assistedliving.org/virginia/virginia-beach/</a>
Here are some of the facilities listed on their website:
Altria Senior Living - <a href="https://www.atriaseniorliving.com/retirement-communities/atria-virginia-beach-virginia-beach-va/" target="_blank">https://www.atriaseniorliving.com/retirement-communities/atria-virginia-beach-virginia-beach-va/</a>
Beth Shalom - <a href="https://bethsholomvillage.com/" target="_blank">https://bethsholomvillage.com/</a>
Westminister Canterbury - <a href="https://www.wcbay.com/retirement-community-virginia-beach" target="_blank">https://www.wcbay.com/retirement-community-virginia-beach</a>
2020-12-17T10:40:00-07:002020-12-17T11:02:16-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6507Understanding Jet Noise Map in Virginia BeachUnderstanding the Jet Noise Map
The military is a huge part of our community and we are proud of our military history. Some of the military instillations in our region are:
Norfolk Naval Station - The largest military instillation in the world and homeport for several Naval Aircraft Carriers.
Oceana - The east coast master jet base.
Little Creek Amphibious Base - Home to the amphibious forces of the Atlantic Fleet.
Dam Neck - Home to the DEVGRU or as many know it Seal Team Six.
Along with such a strong military presence and more specifically having the east coasts master jet base comes jet noise. Or as many of the locals call it, "the sound of freedom". Not all locals appreciate having their fillings rattled by passing jets so part of the home buying process is signing off on the noise zone disclosure or AICUZ as it is referred to. Each home buyer is different. Some are not worried about the noise while others are very sensitive to it. Our goal is to make sure our clients understand all of the aspects of property both good and bad so that they make the right decision for them. In this case we rely on the AICUZ map that is issued by the city. It shows the noise levels on the map so you can see where your home is in the noise zone. The higher the noise zone, the more frequent the noise level from low flying jets.
<img src="https://assets.site-static.com/userfiles/2576/image/0001.jpg" width="7650" height="11550" />
<a href="https://assets.site-static.com/userfiles/2576/file/Hampton_Roads_JLUS_AICUZ_pamphlet_CMYK.cdr.pdf">Hampton_Roads_JLUS_AICUZ_pamphlet_CMYK.cdr.pdf</a>2020-12-08T08:03:00-07:002020-12-08T08:35:05-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6466Best Family Friendly Restaurants in Virginia Beach<img src="https://assets.site-static.com/userfiles/2576/image/Copy_of_Copy_of_Copy_of_Copy_of_Copy_of_Copy_of_Copy_of_Copy_of_Copy_of_Copy_of_Copy_of_Copy_of_Copy_of_Copy_of_Copy_of_Copy_of_Laurel_Cove_1.png" width="2050" height="780" />
Finding a place to eat where everyone in the family is happy is always a challenge. Here are some of our families favorite places to go.
<a href="https://www.ynotitalian.com/" target="_blank">YNOT Italian</a> - This locally owned restaurant has several locations around Virginia Beach. It is not only a pizza joint but also has all of your italian favorites. They also have a well stocked craft beer selection for the adults.
Insider tip: Don't forget to save room for their amazing gelato.
<a href="https://www.laspalmas3mexicanvb.com/" target="_blank">Las Palmas </a>- Mexican is always a safe bet for a family. There are ton of options around the area and to be honest, they are all the same and having lived in California, they really aren't that memorable. Las Palmas is the exception to that rule. We really enjoy their fresh flavors and traditional mexican recipes. Give them a try, you won't be disappointed.
Insider tip: Get the table made quacamole. Holy Guacamole is it good!
<a href="http://nofrillgrill.com/" target="_blank">No Frill Grill</a> - When we lived in Norfolk, this was one of our favorites for an affordable consistent family meal. We were so excited to see them open a Virginia Beach location near our home. NFG has something for everyone in your family. The service is quick and cheerful and the food is consitently good.
Insider tip: Their salads are where its at. Our favorite is the funky chicken salad.
<a href="https://www.shorebreakvb.com/" target="_blank">Shorebreak Pizza and Taphouse </a>- Shorebreak is one of the better sports bars in the area and is a favorite of families. With pool tables and an arcade, the kids will have the time of their lives while the adults watch their favorite team on one of their many big screen tv's. The pizza and food is consistently good and the menu features a fancier version of traditional pub fare.
Insider Tip: Try the spicy pizza sauce. It isn't super spicy but it is super delicious. 2020-11-30T15:19:00-07:002020-11-30T15:41:58-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:5843Outdoor Living Tips<img src="https://assets.site-static.com/userfiles/2576/image/OUTDOOR_LIVING.png" width="2000" height="1125" />
In our area we can enjoy the outdoors for the majority of the year. Nothing is more enjoyable than an ice cold beverage hanging out with family and friends in the backyard. Here are some tips to achieve the perfect outdoor experience.
Lighting - Lighting doesn't need to be expensive or elaborate. A cheap set of string lights from Amazon will do the trick. To create a defined space use lights to surround an area where you will be putting furniture. You can even get creative on how you install them. Install poles or posts in planters with concrete so that you have something for the lights to attach to. For a small investment you can create an amazing nighttime outdoor experience
.<img src="https://assets.site-static.com/userfiles/2576/image/FHD19SEPT_PlanterWithStringLightPole_039-lede.jpg" width="1200" height="1200" />
Furniture: A comfortable sitting area is a must. You don't need to break the bank either. Keep in mind though, outdoor furniture goes through a lot being outside. This is where you will see the saying that "you get what you pay for" come true. If you are handy, there are ways to save money by building your own furniture with pressure treated lumber. Outdoor cushions can be purchased from the big box stores and it will make for a nice, durable and comfortable outdoor seating area.
<img src="https://assets.site-static.com/userfiles/2576/image/outdoor_sectional_0.jpg" width="640" height="480" />
Firepit: Firepits are must for outdoor living. The cheapest option is buying an off the shelf metal fire pit. They will last for a number of years and they are portable. A more permanent option but more expensive is a masonry fire pit. These can be purchased at any of the big box stores and assemble at your home. These will last for a long time so the initial investment might be worth it if you know exactly where you want to put it. The last option is a gas fire pit. These can either be propane or natural gas. They can also be either permanent or portable. The permanent options are the most expensive and also require installing a gas line. The portable ones are slightly more expensive than a wood burning fire pit but they require propane which can add up pretty quick.
<img src="https://assets.site-static.com/userfiles/2576/image/Tremron-Firepit.jpg" width="470" height="405" />
Bugs: Nothing ruins a nice outdoor living experience like a swarm of mosquitoes. The good news is that there are both diy and professional solutions to help minimize the amount of pesky bugs and make the outdoors enjoyable. <br /><br />
<img src="https://assets.site-static.com/userfiles/2576/image/0517_A75129_1_full.jpg" width="1307" height="1000" />
2020-07-01T04:46:00-07:002022-11-14T10:36:59-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:5845Finding a Home in a Tight Real Estate MarketIf you are a buyer right now you are likely ready to pull your hair out. Interest rates are low making it the perfect time to buy but there is nothing on the market. In a balanced market there is plenty of inventory to meet the demand and the buyers have a good amount of options to choose from. In today's market homes that are in desirable neighborhoods and are in good condition get offers within a matter of hours. How are buyers supposed to compete in this kind of environment?
We have been through markets like this before. It is definitely frustrating for buyers and for us as well but real estate is an ever evolving animal. We have to be able to adjust in order to meet the needs of our clients. I am here to tell you that most agents do not know how or aren't willing to think outside the box. That is a real disservice to their clients. So what do we do in this kind of market to make sure our clients find homes?
Guerrilla Home Finding Strategy:
Talk to people - I know that sounds crazy in today's world of electronic communication but sometimes you have to pick up the phone or knock on someones door to find information that is not readily available to the masses. We have a strong network of friends in this area and the first thing we do is reach out to the friends in the target neighborhoods to find out if they know of anyone talking about selling their home.
Mass marketing - Mass marketing is a numbers game but is effective if done correctly. Letters to neighborhoods asking anyone interested in selling in the near future produces leads for our buyers. We spend our own money doing this because we want to make sure we do everything we can for our client.
Social Networking - Social media is a great tool for engaging with potential buyers in specific areas. We know the ins and outs of finding these sellers utilizing social media.
Agent networking - We have a large network of colleagues that we reach out to when we need to find a property that isn't on the market but will be coming on soon. This is one reason we always treat the agents on the other side of a transaction with respect and dignity because we know that we may need to their help down the road.
If you are struggling to find a home and need a fresh perspective, give us a call. We would love to help.
Eric & Jennifer Ziemer 757-639-96272020-06-23T11:03:00-07:002020-10-15T11:31:17-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:5846Protecting Your EquityGood Listing Agents vs. Bad Listing Agents
Here is a scenario that we see all to often. Please read this and understand how important it is that you hire the right agent.
The Scenario:
Your House: You have a beautifully renovated home that is in the most prestigious area of the neighborhood. Every buyer out there looking in this neighborhood would love to buy this home but not every buyer can afford the location of the home. There is a premium to buy a home in this section. This premium ranges from $100-150,000. With the increased value there is a smaller pool of buyers that can afford it. There are also some buyers that can afford it but don't see the value in it so they aren't willing to pay for it.
Agent A: There haven't been many sales in your part of the neighborhood in the past year. Agent A, being unfamiliar with the area and/or in search of a quick sale uses the the comparable sales in the other part of the neighborhood to try and justify as low a sales price as possible. After much discussion you finally agree to list at $500,000. The first week the home is on the market, you get an offer for $450,000. In this case the buyers agent is using even lower comps from the other part of the neighborhood to justify their offer. Agent A tells you that "the first offer is always the best offer". You agree to the offer leaving a lot of money on the table. Agent A gets a quick paycheck and also markets themselves as being able to get their clients homes sold very quickly.
The Ziemers: We understand that there is substantial value in your location in the neighborhood and regardless of whether there have been sales in the past year to help us gauge the value, we know the value is there and it is important to preserve that value for you and your neighbors. We also understand that this house is not for everyone. This is the perfect home for a buyer that is willing to pay the premium to live in the best area of the neighborhood. We price the home at $550,000 and market it as a luxury listing, emphasizing why it is worth more than other parts of the neighborhood. We have a number of showings in the first 30 days and no offers. We look at the market data and we see that the sales time for homes priced between 500 and 600,000 are around 60 days. We advise you to stay strong on the price because the value is there for the right buyer. At 40 days we receive an offer for 500,000. We explain the value of the property to the buyers agent and we find out that the buyers really can only afford 500,000. We advise you that this is selling the home at a significant discount and that they would be better off waiting for a qualified buyer. At 50 days we receive an offer of 530,000. The buyers are well qualified and love the home. We are able to negotiate up to 540,000 and close on the property 30 days later.
So which agent would you hire?
Which agent had your best interest in mind throughout the entire transaction?
Agent A: Took 7 days to get the home under contract with a sales price of $450,000
The Ziemers: Took 50 days to get the home under contract with a sales price of $540,000
Is 43 days worth $90,000 to you?
Believe it or not, we see these types of agents all the time. Agents that only care about a quick sale or who are too ignorant of the nuances in a neighborhood to price a home accurately. When we are selling our clients home, we take that job very seriously. We aren't out for a quick sale. We hope that it does sell quickly for our sellers sake, but that doesn't necessarily equate to a successful sale.
At the end of all of this, we just want homeowners out there to know that it matters who you hire. Not everyone cares as much as we do. We hope you will give us a call to help you when you are ready to sell your home.
The Ziemers2020-03-11T11:21:00-07:002020-10-15T11:29:10-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:5847How the coronavirus is impacting our local real estate market<img src="https://assets.site-static.com/userfiles/2576/image/THE_CORONAVIRUS.png" width="940" height="788" />Whether you think that a global pandemic like the coronavirus are a real physical threat to us in Hampton Roads or not, there are definitely economic impacts that we are feeling on a local level.
Stock Market Trouble: The most noticeable economic impact is the drastic decline in the stock market. Stock market investors are always trying to time the market and predict what is going to happen in the future. In this case there is a risk that global productivity and growth will stall or go down if too many people are sick. This caused investors to start pulling their money out of the stock market and putting it into bonds and other "safe" investments. This sell off decreased the overall value of the stock market. Some would say the stock market was over valued, so a correction was on the way but none the less, people with significant investment in the stock market say massive amounts of wealth disappear over night.
Interest Rate Drop : The other impact that we will notice is on interest rates.
"The U.S. Federal Reserve announced Tuesday an emergency interest rate cut, lowering the target range for federal funds by 50 basis points to a range of 1-1.25 percent. The move comes <a href="https://www.inman.com/2020/02/27/real-estate-stocks-slammed-amid-coronavirus-market-woes/">amid global market uncertainty surrounding the spread of coronavirus</a>, a deadly respiratory virus<a href="https://www.inman.com/2020/02/10/re-max-agent-among-thousands-stranded-on-cruise-ship-amid-coronavirus-outbreak/"> that has quickly become a public health crisis. </a>"
This is a good thing for people looking to buy a home or refinance into a lower rate. We are now seeing interest rates in the very low 3%'s. Interest rates a year ago were predicted to be at 5% by this time. Thanks to the coronavirus that never happened.
How does this impact home buyers and sellers?
This is a double edge sword for buyers. Low interest rates are great for either lowering your monthly mortgage payment or for getting more home for the money. The bad thing with interest rates being so low is that it is increasing the number of buyers out there looking for homes to take advantage of the low rates. This is all happening at the same time we are seeing record low numbers of listings. So, to give an example of what this is like. It is like Busch Gardens saying that on 4th of July they are going to reduce the price of the entrance fee to $10.00 and only 6 of the 10 rides will be open. That would lead to a massive number of people trying to ride the same 6 rides which would be very frustrating. Now if you are a seller, this is a great thing. More buyers without more sellers means you are going to get more money for your home and be in charge of the negotiations.
How we can help buyers in this market
It takes a seasoned agent to know how to set their clients up for success in this kind of market. We have a proven strategy that works great for making sure our clients get the house they want. Here are some of the main points:
Time is of the essence: When a new listing hits the market in your target area, we need to be talking about it within an hour to schedule a time to go see it. With us being a team, between the team we will meet you at the home as soon as you can get there. We will also make sure that we are communicating our intent with the listing agent so that if they do receive another offer we don't lose out on the opportunity to submit a competing offer.
Crafting the offer: We want to know what is most important to the seller so that when we make an offer, we give them what they want. In a competing offer situation, we don't want to guess what they want. We want them to tell us.
Off the market listings: We have several strategies we use to try and find off market sellers. These are people that would sell if someone wanted to buy their home but haven't put it on the market yet. These are great homes to find because this removes the threat of competition from other buyers, resulting in a better deal for you.
These are just a few of the things we have learned along the way that make us a great asset in a home buyers home search. I guess you could say we are the magic bullet. Give us a call if you are frustrated with how your home search is going. We would love to step in and help.
The Ziemers
2020-03-05T12:23:00-07:002020-10-15T11:26:26-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6165Our Fixer UpperTales of a Renovation Junkie
Some people think we are crazy for buying the homes we buy that need renovations. We are self professed renovation addicts though. Jennifer is at her happiest when she is either designing remodeling projects for us or for our clients. It all started in 2004 when we bought our first fixer upper. It was a real dump but we saw a beautiful diamond that needed to be polished. Ok, it was a piece of coal that needed a lot of blood, sweat and tears to turn it into something that kind of looked like a diamond. Boy have a we come a long way since then. Each house, gets a little bit more polished.
Our Current Home
We are now on our 4th home in 15 years. We bought our current home 5 years ago with the intention of renovating the entire home. We started with the deck. It is a long story as to why that was the first project but lets just say that Jennifer left for the afternoon and came home to find me with a crowbar and a deck that was half the deck it used to be. That deck ended up turning into a screened porch. The next project was opening up some walls to give the home better flow between the kitchen, dining and living rooms. These were more band aid projects while we figured out what we wanted to do with the kitchen. The next project was the bathrooms in the home. Each one was original with beautiful blue and yellow tile. You have to love the 60's. We took down walls in the master bath to make it feel larger and to fit both a shower and a tub. The kids bathroom had a wall as well that we took down. Then we made the decision that forever changed our lives. We decided to get a pool. We have 3 kids ranging from 8 to 15 so if we were going to get a pool, why not do it now so that they can enjoy it with their friends. I must say though, I think that I am the biggest fan.
The pool was put in last summer and we went a whole year without any projects other than the random landscaping project or room reconfiguration. All the while Jennifer is chomping at the bit to renovate her kitchen. We have renovated the kitchen in every home we have owned. I am not talking about a lip stick on the pig renovation. I am talking about down to the studs, cooking on your camping stove for 2 months kind of renovation. Well needless to say, I was not as thrilled about going through what I knew would be a difficult season. What I underestimated was just how persistent Jennifer is and after months of selling me on the idea we both decided to pull the trigger. Jennifer wanted her dream kitchen. We have learned so much along the way about how we live and entertain so each of those lessons can be seen in our new kitchen. She really does have a great eye for functional design.
At the end of the day, we have a house that is perfect for our family and the only reason it is perfect is because we made it that way. It is very difficult to find the perfect home that doesn't need some adjustments or updates. We love to dream with our clients and help them see the vision for the what the home can be. This also includes helping them come up with a realistic budget so that they know that after it is all said and done, they are making a good financial decision.
Let us know if you are ready to find your dream home. Even if it doesn't look like your dream home today, we can help make sure it does down the road.
The Ziemers
2020-01-23T13:25:00-07:002020-11-04T13:26:10-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6166Neptune Festival 2019 Music Line Up<img src="https://assets.site-static.com/userfiles/2576/image/2019_Neptune_Festival_Music_Lineup.jpg" width="560" height="234" />
We are big music lovers and this years Neptune Festival has some amazing artists ready to rock the beach. Here is 2019's line up starting on Friday and ending on Sunday. Go check it out if you get a chance.
LIVE MUSIC:<br />Boardwalk Weekend fills 3 musical stages with great local and national talents.<br />Stages are located at 17th, 24th, and 31st Streets on the Boardwalk, and all shows are FREE!
Friday, September 27
31st STREET STAGE
6:00-8:30pm<br />The Chong Band
9:00-11:00pm<br />UB40
24TH STREET STAGE
6:00-8:30pm<br />BJ Griffin & the Galaxy Groove
9:00-11:00pm<br />Tidewater Drive Band
17TH STREET STAGE
6:00-8:30pm<br />Little Country
9:00-11:00pm<br />Tailgate Down
Saturday, September 28
31st STREET STAGE
1:00-2:30pm<br />Alec Edmonds
3:00-4:30pm<br />Intangible Cats
5:00-6:30pm<br />Bam Bam Betty
7:00-8:30pm<br />Snackbar Jones
9:00-11:00pm<br />PSYCHEDELIC FURS
24TH STREET STAGE
1:00-2:30pm<br />Dustin Furlow Duo
3:00-4:30pm<br />The Gold Sauce
5:00-6:30pm<br />REBIRTH BRASS BAND
7:00-8:30pm<br />ANDERS OSBORNE
9:00-11:00pm<br />Anthony Rosano & Conqueroos
17TH STREET STAGE
1:00-2:30pm<br />Joe Gosman Band
3:00-4:30pm<br />Bad Weather Birds
5:00-6:30pm<br />Audiohum
7:00-8:30pm<br />Ben Phelps Project
9:00-11:00pm<br />Strictly Bizzness
Sunday, September 29
31st STREET STAGE
1:00-3:00pm<br />Breaking Brad
3:30-6:00pm<br />The Janitors
24TH STREET STAGE
1:00-3:00pm<br />Lewis McGehee
3:30-6:00pm<br />SKIP CASTRO BAND
17TH STREET STAGE
1:00-3:00pm<br />Tiki Bar Band
3:30-6:00pm<br />The Rhondels
2019-09-25T12:27:00-07:002020-11-04T13:29:49-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6167Baycliff Boat Ramp Spotlight<img src="https://assets.site-static.com/userfiles/2576/image/Everything_you_need_to_know_about_the_Baycliff_Boat_Ramp.png" width="560" height="315" />
Baycliff is one of our favorite neighborhoods in Virginia Beach. The streets are lined with established trees and the neighbors take great pride in the appearance of their homes. The neighborhood features the Alanton Baycliff Pool Club which is home to the summer swim team the Bolts. Whether you are a young family or empty-nesters, you will feel right at home in this amazing community.
One of the often times overlooked features of this neighborhood is the fact that it has a boat ramp for the sole use of the Baycliff Civic League members. At the entrance to the neighborhood there is a large parking area and a newly paved boat ramp. This allows boat owners to keep their boats at their Baycliff home on a trailer and easily launch the boat to access Broad Bay in a matter of minutes and without the hassle and crowd at the public boat ramps. From the Baycliff boat ramp the Chesapeake bay is a short 20-30 minutes (it would be much shorter if not for the no wake zones along the way). The neighborhood of Baycliff also just finished dredging the channel that goes from the boat ramp to Broad Bay. The word on the street was that it was being dredged to 4.5 feet at low tide. This dredging allows for a good sized boat to travel in and out of Baycliff at any time of the day. This dredging project was done in 2017 and was self financed by the Civic League keeping the City of Virginia Beach out of the process. When the City gets involved, the project normally takes twice as long and it is paid for through a tax increase for homeowners benefiting from the dredging. Since this was privately financed through donations from neighbors, the tax rate on the homes is unaffected. Any new homeowners will get the benefit of the kind homeowners that contributed to the project.
Dredging Project Facebook Page - <a href="https://www.facebook.com/Baycliff.Dredging">https://www.facebook.com/Baycliff.Dredging</a>
Civic League - <a href="http://wp.baycliff.net/">http://wp.baycliff.net/</a>
Aerial Video of Baycliff waterway out to Broad Bay
2019-09-04T12:29:00-07:002020-11-04T13:32:10-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6168Top 5 Things To Look For in a Family Friendly NeighborhoodThe Hampton Roads area is filled with amazing communities for families. As a family of 5, we know how important it is for our kids enjoyment and for our sanity to have other families around to walk through life together with. We are very social people so we value relationship more than most other things in life. If you are the same as us then here are some tips to help you find the perfect spot for your family.
1. Look for a neighborhood with an elementary School in the community- Many of the elementary schools in the area were built right in the middle of neighborhoods. This creates a real sense of pride for the school from the parents and kids as well as the teachers and staff.
2. Look for a neighborhood with a community pool - The community pool is the place to be in the summer. Joining your neighborhood pool will ensure that you meet lots of neighbors and build life long friendships.
3. Look for a neighborhood with other families - This seems pretty self explanatory but this is often times hard to figure out. One strategy we suggest is park in the neighborhood on a weekend or around the time school gets out and go for a walk. You will figure out pretty quickly if their are families living in the neighborhood.
4. Look for a neighborhood without too much privacy - I know we all want privacy to some extent. In some cases though, it can be too much. Some areas of neighborhoods are so secluded, you can go decades without ever meeting your neighbors. Look for neighborhoods where you will see your neighbors homes. This way if you are sitting on the front porch and they walk by you can wave and say hello.
5. Look for neighborhoods with recreational amenities - Many neighborhoods in our area feature city playgrounds and parks and many newer neighborhoods feature community playgrounds. These are the types of things that attract families so you will be sure to be surrounded by other families. 2019-08-21T12:32:00-07:002020-11-04T13:41:22-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6169Best Waterfront Restaurants in Virginia Beach<img src="https://assets.site-static.com/userfiles/2576/image/porch.jpg" width="1080" height="716" />
The coastal Virginia area was once referred to as the Tidewater region. If you have ever flown in or out of Norfolk, you have seen first hand the amount of waterways we have been blessed with. One of our favorite pastimes is taking the family to dinner and being able enjoy the beauty of the water. Here are some of our favorite waterfront restaurants.
<a href="http://www.surfriderrestaurant.com/home" target="_blank">Surf Rider</a> - Tucked behind what used to be Marina Shores is the Surf Rider. It sits on the Lynnhaven River a stones throw from the Chesapeake Bay off of Great Neck Rd. Home to what some say is the best Crab Cake in the city and the famous Rum Runner frozen libation.
<a href="http://www.docksideva.com/" target="_blank">Dockside</a> - If you are looking for traditional seafood with an amazing view, look no further than Dockside. With both indoor and outdoor seating it is a perfect place to enjoy a sunset with your family and friends. Bonus Tip- There is live music most weekends on the dock.
<a href="http://bubbasseafoodrestaurant.com/" target="_blank">Bubbas</a> - Located right next to the Lesner bridge, Bubbas is similar to Dockside. Great seafood and great views. What more can you ask for.
<a href="http://www.chicksoysterbar.com/" target="_blank">Chicks Oyster Bar</a> - If you are looking to watch a game or meet up with a group of friends, Chicks is the party spot on the water. It is still tame enough to take the kids to, so don't worry about it being too rowdy.
<a href="https://www.facebook.com/ThePorchonlongcreak/" target="_blank">The Porch on Long Creek</a> - This is the newest addition to the waterfront dining scene. Upscale comfort seafood is how I would describe the menu. The decor is straight out of Coastal Living Magazine and it sits on a beautiful piece of riverfront property.
<a href="https://www.watermans.com/" target="_blank">Watermans </a>- Most of our favorites are on the bay or river but no waterfront restaurant list would be complete without mentioning the infamous Watermans. Situated on the oceanfront, this restaurants claim to fame is the invention of the Orange Crush.
2019-06-04T12:41:00-07:002020-11-04T14:03:11-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6170Top 5 Virginia Beach Community PoolsTop 5 Swim Clubs in Virginia Beach
<img src="https://assets.site-static.com/userfiles/2576/image/3901960_orig_1070_01.jpg" width="1070" height="800" />
Summer in Virginia Beach is what we all live for here in our coastal town. There is no better memory a child has than their days spent swimming at the local pool with their friends. Adults have a great time at the neighborhood pool too. Pools bring together a community. Here is a list of our top 5 favorite community pools.
If you would like our help finding the perfect house near one of these swim clubs, give us a call!
<a href="http://www.abrcpool.com" target="_blank">1. Alanton Baycliff Recreation Center</a> -
<img src="/uploads/agent-1/alanton3.jpg" alt="" width="340" height="456" />
Surrounded on three sides by beautiful mature trees and on the other side by breathtaking wetlands, this pool gives you a great sense of being in the middle of nature. <a href="https://www.ziemerrealestate.com/alanton-baycliff.php">Homes for Sale</a>
<a href="http://www.lnsrc.org/" target="_blank">2. Little Neck Swim and Racquet Club</a> -
<img src="/uploads/agent-1/little neck pool.jpg" alt="" width="339" height="254" />
LNSRC is one of the larger pools in the area and justly so since it serves the entire Little Neck community. This is a year round club with tennis facilities and a clubhouse. <a href="https://www.ziemerrealestate.com/little-neck-homes-for-sale.php">Homes for Sale</a>
<a href="http://www.clubbrittany.org/" target="_blank">3. Club Brittany </a>-
<img src="/uploads/agent-1/club brittany.jpg" alt="" width="338" height="190" />
This pool is located in the Great Neck area of Virginia Beach and is located on waterfront property making it one of the most picturesque pools in the area. <a href="https://www.ziemerrealestate.com/trantwood-homes-for-sale.php">Homes for Sale</a>
<a href="http://www.pembrokemeadows.org/" target="_blank">4. Pembroke Meadows</a> -
<img src="/uploads/agent-1/pm pool.jpg" alt="" width="342" height="216" />
Located in the northwest area of Virginia Beach near the neighborhoods of Pembroke Meadows, Thoroughgood and Chic's Beach. <a href="https://www.ziemerrealestate.com/homes-for-sale-near-pembroke-meadows-pool.php">Homes for Sale</a>
<a href="https://www.ziemerrealestate.com/backend/cms/pages/add/5. Larkspur Swim and Racquet Club" target="_blank">5. Larkspur Swim and Racquet Club</a> -
<img src="/uploads/agent-1/larkspur.jpg" alt="" width="348" height="194" />
This pool has adult and kid socials every month as well as tennis facilities.
<a href="https://www.ziemerrealestate.com/larkspur-homes-for-sale-vb.php">Homes for Sale</a>
Location of Pools
2019-05-21T12:44:00-07:002020-11-04T13:48:07-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6171Why Virginia Beach is a Great Retirement Option for SeniorsWhy Virginia Beach is a Great Retirement Option for Seniors
<img src="https://assets.site-static.com/userfiles/2576/image/lifeinsurance.jpg" width="1028" height="467" />
One of the most exciting parts of preparing for your retirement is having the freedom to choose where you want to live. Your place of employment no longer has to be the deciding factor for your primary residence - you can instead focus on relaxation, amenities and other factors that can contribute to your overall happiness. Seniors who are ready for relaxation and sunshine in their retirement years would do well to consider Virginia Beach for their destination.
With its 38 miles of coastline and temperate climate, Virginia Beach is an ideal location for seniors to retire. Virginia Beach is a coastal town with long stretches of public beach and plenty of things to do. Consumer financial services company Bankrate places Virginia Beach as <a href="https://www.bankrate.com/retirement/1-great-chart-for-comparing-the-best-and-worst-cities-for-your-retirement/" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.bankrate.com/retirement/1-great-chart-for-comparing-the-best-and-worst-cities-for-your-retirement/&source=gmail&ust=1548782150759000&usg=AFQjCNHJTaL-DVzqV3cGjQldJcBhGn4yIg">#20 on the list</a> of top places in the US for retirement based on a variety of factors, including very low cost of living, a low crime rate and a low tax rate. Consequently, <a href="https://www.yesvirginiabeach.com/Business-Environment/Pages/Demographics.aspx" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.yesvirginiabeach.com/Business-Environment/Pages/Demographics.aspx&source=gmail&ust=1548782150759000&usg=AFQjCNE6vXwY_N5DgEWJs9v7426MQBeusA">25.6% of the population</a> is 55 years of age or older.
Below you will find just a few reasons why Virginia Beach is a great choice for your retirement.
Continued Employment Opportunities in Virginia Beach
If you wish to continue working during the first few years of living in your new town, Virginia Beach has plenty of opportunities. The unemployment rate here <a href="https://www.bls.gov/eag/eag.va_virginiabeach_msa.htm" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.bls.gov/eag/eag.va_virginiabeach_msa.htm&source=gmail&ust=1548782150759000&usg=AFQjCNFq_l6cpuQDOlsHduWS0d38wqmIdQ">is only 2.8%</a>, which is much lower than the national unemployment rate of 4.1%. The sectors with the most job growth in Virginia Beach are professional and business services, leisure and hospitality, and manufacturing.
If you have previously served in the military, it may interest you to know that Virginia Beach is home to the largest concentration of military personnel outside of the Pentagon. There are many solid career opportunities for retired veterans who wish to continue working.
Virginia Beach Has No Shortage of Activities for Seniors
The city of Virginia Beach makes a concerted effort to provide an atmosphere for socialization and opportunities for seniors to maintain health, independence and social activities. The <a href="https://www.ssseva.org/page/programs-&-services/" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.ssseva.org/page/programs-%26-services/&source=gmail&ust=1548782150759000&usg=AFQjCNHouCXXIeV2RrtDA2wPCiIVMUaTcA">Area Agency on Aging</a>, the Senior Services of Southeastern Virginia, offers many different services, including:
Transportation services
Holiday celebrations
Games
Field trips
Wellness classes
Medicare benefits counseling
Virginia Beach is also home to a network of senior recreational facilities called <a href="https://www.vbgov.com/government/departments/parks-recreation/recreation-centers/Pages/senior-centers.aspx" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.vbgov.com/government/departments/parks-recreation/recreation-centers/Pages/senior-centers.aspx&source=gmail&ust=1548782150759000&usg=AFQjCNFwBtqiyPw64WXI_3msKSXn5uL2Bw">Forever Young</a>. These centers serve as a gathering place for older adults to socialize and participate in special events, lunches, games, arts & crafts, exercise, as well as local shopping trips and excursions.
Virginia Beach Has Access to Premiere Healthcare Options
There are many hospitals in the Virginia Beach metropolitan area that rank on the <a href="https://health.usnews.com/best-hospitals/area/virginia-beach-va" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://health.usnews.com/best-hospitals/area/virginia-beach-va&source=gmail&ust=1548782150759000&usg=AFQjCNECS7PkiExXrmlzBn49czsZWPpBmg">U.S. News list of best hospitals</a>, so moving to Virginia Beach is a smart choice for your health. Statewide in Virginia, there are 127 primary care physicians per 10,000 residents, a higher rate than the national average, and prescription drugs are tax-exempt, which can provide huge annual savings for seniors.
On the community level, Virginia’s <a href="https://www.vda.virginia.gov/" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.vda.virginia.gov/&source=gmail&ust=1548782150759000&usg=AFQjCNEZoqQ3XqTm1NeAAAEUW3CA3ifAaw">Office for Aging Services</a>, a division of the state’s Department of Health and Human Services, aims to provide comprehensive health and wellness services through the Area Agencies on Aging.
SENIOR AND ASSISTED LIVING COMMUNITIES IN VIRGINIA BEACH
There are many different senior living options available to you in Virginia Beach. Choosing the most appropriate one will involve evaluating a few different factors in your life - including amenities that are important to you, current and future health needs and any mobility concerns.
One of the options available to you in Virginia Beach is a retirement community, also called an active adult living community or “55-plus” community. This is a great living option for retirees who want to maintain their independence and have access to amenities, but do not want to be on the hook for maintenance and other home responsibilities. If you opt for a retirement community, make sure to discuss any homeowners association (HOA) fee or any other fee to ensure you understand the true cost of this option.
For seniors with more intensive healthcare needs or those who cannot move around easily on their own, there are other great living options in Virginia. There are many <a href="https://www.seniorhomes.com/virginia/virginia-beach/" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.seniorhomes.com/virginia/virginia-beach/&source=gmail&ust=1548782150759000&usg=AFQjCNFvNCk8vivbAoOJKEj7Ar9IS6WoVg">assisted living facilities options in Virginia Beach</a> and 22 others considered to be nearby. These facilities cost an average of $3,851 each month, which covers room, board, assistance with activities of daily living, recreational time and health care management assistance. Your real estate agent can help you with financing options if needed.2019-01-28T14:14:00-07:002020-11-04T14:16:34-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:61723 Signs 2019 is going to be a hot real estate market
3 signs 2019 is going to be a hot market
Existing home sales, housing units authorized (but not yet started) and real disposable personal income will be key indicators
<article id="post-707685" class="post-707685 post type-post status-publish format-standard has-post-thumbnail hentry category-agent category-markets-economy category-opinion category-select tag-andrew-duguay tag-housing-market tag-market-growth">
BY<a class="author-name-link author vcard" href="https://www.inman.com/author/andrew-duguay/">ANDREW DUGUAY</a>
We all know last year was a <a href="https://www.inman.com/2018/11/28/10-things-sellers-should-never-say-to-their-listing-agents/">seller</a>’s market in residential real estate. Supply has been low and housing starts are down 1.4 percent year-over-year, which has lead to increasing home prices and a reduction in the total number of homes sold.
The upshot is that total revenue has remained flat: Fewer sales were made, but the sales that were made came at higher price points.
<a href="https://www.inman.com/2017/07/24/what-does-a-real-estate-agent-do-all-day-anyway/">Real estate professionals</a> everywhere are wondering <a href="https://www.inman.com/2018/11/23/how-to-explain-to-sellers-that-the-market-is-turning/">what’s in store for the year ahead</a> — read on to find out why 2019 will be a growth year for our industry.
What is the housing market doing now?
New residential home sales dropped 8.9 percent in October, falling to a new two-year low, according to a new <a href="https://www.census.gov/construction/nrs/pdf/newressales.pdf">residential sales report</a> released Wednesday by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development (HUD).
Scars from the housing market crash a decade ago haven’t fully healed, and already some question whether high prices and low sales are the forerunners of another deflating bubble. But our research and indicators show that the soft activity in 2018 has more to do with rising costs from <a href="https://www.inman.com/2018/07/10/how-the-trump-admins-tariffs-are-affecting-us-homebuyers/">record-high lumber prices</a> and rising interest rates, forestalling the entrance of would-be buyers in the market.
Stricter lending rules are limiting the pool of new buyers at these higher price points. Supply is also severely constrained by the lack of available contractors to build more homes as job openings across the U.S. soar toward record highs, and unemployment remains at a 20-year low.
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Some experts also believe that <a href="https://www.inman.com/2018/06/26/wildfire-raging-through-northern-california-destroys-22-buildings/">the various natural disasters</a> to hit Texas and <a href="https://www.inman.com/2018/11/08/realtor-on-camp-wildfire-as-horrible-as-you-can-imagine-its-worse/">California</a> in the last year could also lead to lower sales as people figure out whether to rebuild or move away.
Handling growth ahead
The key to turnaround will be ongoing wage growth, which will drive demand for new homes at all price points. Affordability will hinge not on dropping home prices but rather in the rise of wages.
With wages rising in 2019, there should be industry-wide, year-over-year growth in home sales, which is a welcoming sign and should relieve any anxiety about a real estate industry bubble.
The key question is how real estate professionals can prepare for growth in activity. This begins by accurately forecasting the market in 2019. It will be important to watch the following three indicators in the next six months: existing home sales, housing units authorized but not yet started and real disposable personal income.
1. Existing home sales
<a href="https://www.inman.com/2018/11/21/existing-home-sales-up-in-october-ending-6-month-slide-nar/">Existing home sales</a> climbed 1.4 percent in October from September. Despite the monthly gain, existing home sales were still down 5.1 percent year-over-year, according to the latest data from the <a href="https://www.inman.com/2018/11/21/existing-home-sales-up-in-october-ending-6-month-slide-nar/">National Association of Realtors (NAR)</a>.
“After six consecutive months of decline, buyers are finally stepping back into the housing market,” NAR Chief Economist Lawrence Yun said. “Gains in the Northeast, South and West — a reversal from last month’s steep decline or plateau in all regions — helped overall sales activity rise for the first time since March 2018.”
This is the weakest indicator for the industry right now. Fewer people are buying homes in 2018, but we’re confident this indicator will be different a year from now so long as the consumer is healthy and wages continue to grow.
2. Housing units authorized but not yet started
This is a very positive indicator right now. As I mentioned earlier, the limited inventory in the U.S. has led to inflated price points. There are nearly 170,000 residential units ready to be built, which is the highest level reached in a decade. Once these homes hit the market, there will be a needed growth of inventory, which should spur sales.
3. Real disposable personal income
This is not a typical indicator for the <a href="https://www.inman.com/2018/11/27/real-estate-companies-are-prime-targets-for-cyber-attacks/">real estate industry</a>, but with housing affordability playing such a pivotal role in this current climate, real disposable personal income has jostled into the forefront of leading indicators for the real estate industry. Seeing a rise in wages would serve as a boost to new home sales and new home construction.
Final thoughts
The key for the industry will not only be about whether the housing supply grows but also about whether the consumer is in a place to actually <a href="https://www.inman.com/2018/11/29/which-markets-will-homebuyers-be-priced-out-of-next/">afford a new home</a>.
Industry professionals must focus on whether or not the consumer is employed and if their wages are growing, which would render homes affordable even in the face of other counteracting factors, such as rising interest rates and high lumber costs.
Andrew Duguay is a New Hampshire-based senior economist and data scientist for <a href="http://www.prevedere.com/" target="_blank" rel="nofollow noopener noreferrer">Prevedere</a> in Columbus, Ohio. Connect with him on <a href="https://www.linkedin.com/company/prevedere/" target="_blank" rel="nofollow noopener noreferrer">LinkedIn</a> or follow him on <a href="https://twitter.com/andrewduguay1" target="_blank" rel="nofollow noopener noreferrer">Twitter</a>.
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2019-01-10T14:16:00-07:002020-11-04T14:18:08-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6173House Flipping TipsHouse flipping isn't nearly as glamorous or as easy as it looks on HGTV. Here are some of the ways reality TV isn't very realistic when it comes to flipping homes:
1. Budget - The renovation costs they throw around for these flips are way too low. Especially given the time frame they expect the house to be completed in. Which gets me to my next unreality.
2. Schedule - Flipping a home in less than 4 weeks is near impossible. Getting that many trades people to coordinate around each other and ensuring there is no down time is one of the biggest reasons.
3. Selling it - Here is where it is a little bit more realistic. They seem to understand pricing it to the comparable sales in the neighborhood. What always cracks me up is that they imply that they sell each house because of an open house. Very few homes are sold at open houses.
4. Drama - While there is always drama in any profession, the level of drama needs to be increased to make for good TV. There are always going to be problems and the difference between being a winner or a loser in flipping is being able to solve problems creatively. This doesn't usually involve yelling into the phone or hitting walls with hammers out of frustration. Who has time for all that nonsense.
5. Big Profits - There are opportunities to hit home runs every so often. The reality is that as the competition to buy flip houses goes up, so do the purchase prices of the homes. This diminishes the profit so we have had to be very selective in what we buy.
Here is a video we shot about our most recent flip.
2019-01-09T14:18:00-07:002020-11-04T14:20:34-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6175Top 10 Things to Look For In A RealtorTop Ten Things to Look For In A Realtor
Get a licensed agent working full time. Full service means the agent is working for you whenever you are in need. Full time agents are best prepared to resolve problems that crop up during negotiations and inspections as well as those that occur after the purchase. You really don't want to work with someone that dabbles in real estate when making such a large purchase.
Get an agent with passion, enthusiasm and dedication. This is the agent who goes the extra mile to get the best results, even when the going gets tough.
Get an agent with market savvy. Consistent sales in a given neighborhood reveals geographic market smarts that can save money. Knowledge is key.
Get an agent who is creative. Look for someone who can write purchase offers that excite a seller and satisfy the buyer.
Get a tech-savvy agent. Most home transactions today begin on the Internet. All eventually get a technology assist.
Get a team player. A real estate agent with a network of professionals at his disposal can take the screws out of finding a good handyman, insurance agent, mortgage broker, home inspector or a variety of other home buying and owning professionals you will need.
Get an agent with a licensed teammate. You'll often need someone to talk to when your agent isn't available. The assistant should have knowledge of the pertinent facts related to your transaction.
Get a well-respected agent. Other agents make deals with agents they respect, trust and with whom they enjoy working.
Get the scoop on your agent. Ask to speak to past and present clients and ask to review multiple listing service (MLS) reports of his or her sales.
Get an agent you trust.
2018-11-30T14:35:00-07:002020-11-04T14:37:00-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6174The Art of Selling Homes<img src="https://assets.site-static.com/userfiles/2576/image/art_of_selling_a_home.jpg" width="2000" height="787" />
The Art of Selling Your Home
Selling a home is much an art as it is a science. Everything that we do when we help a client sell a home is built on one simple premise.
We aim to create a positive emotional response with buyers as soon as they step into your home<br />
So what does that mean????
A persons home is very personal. A home is where you bring your first born child back to from the hospital. A home is where you have Christmas morning every year. A home is where you invite your best friends over to play board games and share a meal with. A home is where you create the vast majority of the memories that you will carry with you through out your life. So with something as personal and reminiscent as your home, it is safe to say that a home purchase is much, much more than just simply a business transaction. There is real emotion involved and rightly so.
So how do we use this emotion to sell homes???
Step 1: Create the Narrative - We want to make sure that we get the house into as good of shape as possible with the least cost to the seller. A lot of times it isn't big ticket items, it is just paint and de-cluttering of the home. We put ourselves into the shoes of the buyer and ask ourselves, what is that they want to see when they walk in the door.
Step 2: Professional HD Photos - Our professional photographer will make your home stand out from the crowd of other homes for sale by making your home look absolutely stunning on the internet. We live in an HD world and we want your home to pop off the screen of their computer or mobile device. This is the start of that positive emotional reaction.
Step 3: Attention to Detail - Once we get them in the door we want to compound on that emotional response we created online by focusing on every little detail in your home so that we reduce the risk of that emotional response going from positive to negative. Buyers can be very picky, so we will give you tips on how to ensure that there aren't small things that turn into big things in the eyes of a buyer.
Step 4: Find out the buyers misgivings - Sometimes, no matter how much we prepare a home a buyer will pick up on something that is a deal breaker for them. We want to know what that is. If we know what that is then we can work on a creative way to mitigate their concerns. What might seem like a big deal to a buyer often times is very easily addressed and for not nearly as much cost as they think. If we don't ever ask the questions to get to the root of the issue, we won't know how to fix it. Our follow up is essential to making sure your home sells.
This has been the secret to our success when helping sellers sell their homes and we have a proven track record of executing this strategy. Selling a home is so much more than just putting a home on the MLS and waiting for the phone to ring. We would love to do the same for you when you are ready to move on to your next home. Give us a call to set up a time for us to see your home and we can help create the narrative for your future buyers.2018-11-30T14:20:00-07:002020-11-04T14:35:15-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6176Christmas in Hampton RoadsHere are some fun Christmas activities for your family this holiday season.
CHRISTMAS EVENTS 2018
November 9 - December 15, 2018<br /><a href="https://norfolkbotanicalgarden.org/mbw/" target="_blank">Million Bulb Walk - Norfolk Botanical Gardens</a><br />Enjoy a healthy walk through 2 miles of holiday light displays at Norfolk Botanical Gardens
November 17, 2018 - January 5, 2019 (select days)<br /><a href="http://www.anrdoezrs.net/click-5761061-11011410?sid=holidays&url=https%3A%2F%2Fbuschgardens.com%2Fwilliamsburg%2Fevents%2Fchristmas-town%2F" target="_blank">Busch Gardens Christmas Town</a><br />Holiday lights, shows and shopping.
November 17, 2018<br /><a href="http://www.holidaysinthecity.net/parade" target="_blank">Norfolk Grand Illumination Parade</a><br />The skylines of Norfolk and Portsmouth light up, then the big parade begins. Norfolk, VA.
November 22, 2018 - December 30, 2018<br /><a href="http://www.hamptonroadsvisitor.com/holidaylightsatthebeach.html" target="_blank">Holiday Lights at the Beach</a><br />The Merry Mile, a shorter lights display premiered in 2017 will take place along the Boardwalk from 8th Street to 22nd Street.
November 22, 2018 - January 1, 2019<br /><a href="http://www.nngov.com/814/Festivals-Special-Events" target="_blank">Newport News Celebration in Lights</a><br />Drive through two miles of holiday light displays at Newport News Park, Newport News, VA.
November 23 - December 31, 2018<br /><a href="http://portsmouthartcenter.com/event-directory/" target="_blank">Winter Wonderland: the Coleman Collection</a><br />Favorite animated figures from Coleman's famous Winter Wonderland collection. Portsmouth Arts and Cultural Center (formerly the Courthouse Galleries), Portsmouth, VA. Closed Christmas day and Mondays
December 1, 2018<br /><a href="https://www.visityorktown.org/Calendar.aspx?EID=950&month=12&year=2018&day=1&calType=0" target="_blank">Yorktown Christmas Market on Main</a><br />Annual holiday market opens with a Fifes and Drums performance.
<img src="http://www.lduhtrp.net/image-5761061-13111629" alt="" width="300" height="250" align="right" border="0" />
December 1, 2018<br /><a href="https://www.visityorktown.org/Calendar.aspx?EID=951&month=12&year=2018&day=1&calType=0" target="_blank">Yorktown Lighted Boat Parade</a><br />Decorated boats parade down the York River.
December 1, 2018<br /><a href="https://www.williamsburgcc.com/parade" target="_blank">Williamsburg Christmas Parade</a><br />Starts at 9:00 a.m. and proceeds down Richmond Road.
December 1, 2018<br /><a href="https://www.beachstreetusa.com/festivals/holiday-parade-beach" target="_blank">Holiday Parade at the Beach</a><br />Evening parade along Atlantic Avenue at the Virginia Beach oceanfront. Parade starts at 5:30.
December 8, 2018<br /><a href="http://www.portsvaevents.com/december-2018/" target="_blank">Olde Towne Holiday Music Festival</a><br />Music performances, children's parade, and more On High Street, from Washington St. to Water St.. Portsmouth, VA.
December 8, 2018<br /><a href="https://www.visityorktown.org/Calendar.aspx?EID=922&month=12&year=2018&day=8&calType=0" target="_blank">Yorktown Holiday Market and Toyland Parade</a><br />Holiday market at Riverwalk, a fun Toyland Parade
December 16 - December 31, 2018<br /><a href="https://norfolkbotanicalgarden.org/holidays/" target="_blank">Dominion Garden of Lights - Norfolk Botanical Gardens</a><br />The gardens are transformed with a drive-through lights display for the holidays
2018-11-27T14:37:00-07:002020-11-04T14:39:22-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6177Should You Renovate or Sell?<img src="https://assets.site-static.com/userfiles/2576/image/20181113-Share-STM.jpg" width="750" height="410" />
Should you Sell or should you Renovate???
Over the past few years, two trends have emerged in the housing market:
Home renovations have shot up
Inventory of homes available for sale on the market has dropped
A ‘normal’ housing market is defined by having a 6-month supply of homes for sale. According to the latest <a href="https://www.nar.realtor/research-and-statistics/housing-statistics/existing-home-sales" target="_blank">Existing Home Sales Report</a> from the National Association of Realtors, we are currently at a 4.4-month supply.
This low inventory environment has many current homeowners worried that they would be unable to find a home to buy if they were to list and sell their current houses, which is causing many homeowners to instead renovate their homes in an attempt to fit their needs.
According to Home Advisor, <a href="https://www.homeadvisor.com/r/true-cost-report/" target="_blank">homeowners spent</a> an average of $6,649 on home improvements over the last 12 months. If that number seems high, it also includes homeowners who recently bought fixer-uppers.
A new <a href="https://www.zillow.com/research/americans-prefer-renovations-21576/" target="_blank">study</a> from Zillow asked the question,
“Given a choice between spending a fixed amount of money on a down payment for a new home or fixing up their current home, what would you do?”
Seventy-six percent of those surveyed said that they would rather renovate their current homes than move. The results are broken down by generation below.
<a href="https://files.simplifyingthemarket.com/wp-content/uploads/2018/11/06142522/20181113-STM-ENG.jpeg?a=318927-6320ebde42a9d4f8e2eb085a73e02ab2"><img class="alignnone wp-image-38396" src="https://files.simplifyingthemarket.com/wp-content/uploads/2018/11/06142522/20181113-STM-ENG.jpeg" alt="Are Homeowners Renovating to Sell or to Stay? | Simplifying The Market" width="650" height="292" /></a>
More and more studies are coming out about the intention that many Americans have to ‘age in place’ (or retire in the area in which they live). Among retirees, 91% would prefer to renovate than spend their available funds on a down payment on a new home.
If their current house fits their needs as far as space and accessibility are concerned, then a renovation could make sense. But if renovations will end up <a href="https://www.simplifyingthemarket.com/2018/03/21/is-a-major-home-renovation-worth-it-in-the-long-run/?a=318927-6320ebde42a9d4f8e2eb085a73e02ab2">changing the identity of the home</a> and impacting resale value, then the renovations may end up costing them more in the long run.
With home prices increasing steadily for the last 6.5 years, homeowners have naturally gained equity that they may not even be aware of. Listing your house for sale in this low-competition environment could net you more money than your renovations otherwise would.
Bottom Line
If you are one of the many homeowners who is thinking about remodeling instead of selling, let’s get together to help you make the right decision for you based on the demand for your house in today’s market.2018-11-20T14:50:00-07:002020-11-04T14:53:01-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6178The Truth About Short SalesThe Truth about Short Sales
When we meet with buyers for the first time, part of our buyer counselling is to explain the difference between a short sale and a foreclosure and also explain the pros and cons of buying them. I am sure anyone who has done online home shopping has seen a home pop up in a neighborhood they have had their eye on that seems like a deal too good the be true. The chances are that that property is a short sale. So what is a short sale?
Short Sale Example:
A homeowner named Bob bought his home at the peak of the housing bubble for $300,000. The recession hit and home values in his neighborhood took a big hit. Values started to recover in the past few years but his home is now only worth $250,000. He owes $280,000 and he is having a hard time paying his mortgage every month. If he stops paying his mortgage the bank will evict him from the property, take ownership and sell the property as a bank owned foreclosure sale. In order to avoid being evicted and taking a large hit on his credit, Bob goes to the bank and asks them if he can sell his property at market value which is less than what he owes the bank. The house is then listed on the MLS by a realtor at a price that is normally 15-20% below the market value. Once the property is under contract with a buyer it has a contingency that states the sale is dependent on the bank approving the sales price and terms. This process can take quite a while and in some cases up to 9 months. Banks are in the business of lending money, not forgiving debt so they are not in any real hurry to approve a short sale. At the end of the transaction, the buyers got a great deal on a home and the seller took less of a hit on his credit report and was not evicted from his home. So whats the catch?
Who are short sales good for?
Buyers that have flexibility in their living situation are good candidates for short sales. Investors are also good candidates for short sales. Any buyer that doesn't need to be in a property by a set date is a good candidate. If you have the flexibility then you can potentially get a great deal on a home. Buyers need to understand that more times than not, a short sale is being sold as-is so there are inevitably going to be repairs and updates that are needed once the sale is completed.
In Summary.... Short sales are not quite as prevalent as they were several years ago. They are a good opportunity for buyers if they have the ability to be patient. A thorough inspection is needed to make sure that they know what they are getting.2018-11-14T14:53:00-07:002020-11-04T14:54:04-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6179When is the best time to buy and sell a home?When is the best time to buy and sell a home?
We get this question a lot. The general consensus is that the spring is the best time to buy or sell a home and the winter is the worst. Well lets look at the data to see what it says.
<img src="http://rein.stats.showingtime.com/infoserv/s-v1/j6tj-YBO?w=640&h=480" alt="" width="640" height="480" />
As you can see there are definitely more sales during the spring and summer, peaking in June each year. To be precise, approximately 40% more sales in June than in January. There also pretty consistent trends that have a dip in July and November due to vacation plans and the holidays. August and December often times see an increase in closings due to people trying to close before school starts or before the end of the calendar year.
What about the number of homes on the market?
I won't put another graph up but the data shows that there are around 15% fewer homes on the market in the winter than there are in the spring and summer. That isn't that much is it? So 40% more homes sold in the warmer months with only 15% more supply. That tells me two things. Spring is statistically the best time to sell a home and the winter is the best time to buy a home.
With all that being said, in the spring there are more buyers looking but there are also more sellers to compete with. In the winter the sellers that are out there are normally highly motivated and there isn't as much for them to choose from. That is a good thing for a seller.
So in summary, there really isn't a bad time to sell a home. Either time of year, with our proven effective marketing will result in a successful sale. Give us a call to talk through your options.
2018-06-06T13:54:00-07:002020-11-04T15:00:18-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6180Are Zestimates Accurate?The short answer is NO. Real estate values are very micro. By micro, I mean that they can change from one street to the next, from one school district to another. In some cases values can change significantly. I can speak from experience that It has taken years of experience to be able to accurately valuate a property taking into account all the nuances that add or detract value. Here is a real world example of a property that just had an appraisal done. The appraisers job is to evaluate all of the micro factors that dictate the value of a property. There is no algorithm that spits it out, it is a manual review, using their local knowledge and analysis of market conditions. In this situation the property was valued at $700,000. The Zestimate for this same property at the same time as the appraisal was $624,000. Or $76,000 less. That is a big difference!
<img src="/uploads/zestimate_585.jpg" alt="" width="585" height="143" />
<img src="/uploads/inkedappraisal_li_377.jpg" alt="" width="316" height="377" />
So in summary, while every smart tech industry start up is racing to UBERize another industry through automation, real estate isn't going to be that easy to do that to. There is so much information out there on the web and without expertise and market knowledge to interpret it, it doesn't tell you anything meaningful. It is the equivalent of saying, the world doesn't need pastry chefs because we can get all the ingredients and recipes online and make it ourselves. First off, what are the perfect ingredients? Second, what is the best recipe? Third, how do you put it all together to create something amazing? It is the knowledge and expertise learned through years of experience that allows professionals to create amazing results. Real estate is the same way. The information is just a piece of the puzzle. The first step is making sure you have the right pieces. Then you have to know how to fit those pieces together. The end result is a picture of something meaningful.
2018-05-11T14:01:00-07:002020-11-04T15:01:51-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6181Proud to Serve Our Military<img src="https://assets.site-static.com/userfiles/2576/image/1-Military_1.jpg" width="2000" height="787" />
We love Hampton Roads - and it’s our pleasure to work with the military men and women in our region. We understand the unique real estate needs of our military community. In fact, many of our agents are Veterans, MilSpouses or have completed advanced training allowing them to better serve our military.<br /><br />Whether you’re PCSing from another part of the country, looking to buy or sell locally, or just need the professional guidance of a REALTOR®, we’ve got all your needs covered. No one knows the local market better than we do, we are truly "A Hampton Roads Original". Let us make the process of moving a smooth and enjoyable experience. We’re proud to serve our military!2018-02-20T15:03:00-07:002020-11-04T15:04:41-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6208Story of the PattersonsWe sent out a note to all of our past clients recently, sharing with them the current state of the market. The summary of the letter was, homes are selling faster and for more money than in years past and their is a lack of supply driving the prices up. Shortly after we sent this letter, our dear friends and clients the Pattersons, reached out and expressed interest in selling their condo and buying that dream home on the Bay they had always talked about. So how did it turn out for the Pattersons?
Sale of their condo:
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Sold in less than a week. Went on the market on Tuesday and had a full price offer on Saturday. We held an open house on Saturday and had 10 potential buyers come through and 1 of them ended up being the buyer who we are under contract with.
Sold for 6% more or $15,000 more than any other condo sold for last year
Closing in 30 days from contract ratification
Purchase of their Dream Home:
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New construction home directly across from the Chesapeake Bay.
Purchased for less than asking price with a long list of additional upgrades at builders expense.
Moving in in time for warm weather and sunshine
2018-02-16T13:06:00-07:002020-11-10T13:08:49-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6211What is the difference between a Short Sale and a Foreclosure<img style="display: block; margin-left: auto; margin-right: auto;" src="https://fthmb.tqn.com/hEcOPiy26nYE-6lDkUhqvjJf6TQ=/1500x997/filters:fill(auto,1)/Short-Sale-by-Owner-56a494135f9b58b7d0d7a5bc.jpg" alt="" width="600" />
Have you ever seen a house online that is such a great deal and think that it has to be too good to be true? Well if you have, there is a good chance that the home is either a foreclosure or a short sale. Both types of sales are what we call distressed sales. Here is a summary of the differences between the two. The terms are often used interchangeably, but they’re actually quite different, with varying timelines and financial impact on the homeowner.
Short Sale (Homeowner still owns the home):
We like to call them long sales because when buying one there is nothing short about it. In other words they take time. Essentially the homeowner is selling the home "short" of what they owe the bank. This is a homeowner that is financially unable to fulfill their end of the deal with the bank and before the bank comes in and takes the property from them they sell the home for what it is worth in today's market. In a short sale scenario though the sales price is less than what they owe and often times what they paid which is why the bank is involved in the transaction. More times than not the bank will approve the sale but the approval process can take 6 months to a year. We are working on one right now where the lender sold the loan to another bank in the middle of the short sale approval process so everything starts over again. Short sales typically sell for a 20-25% discount from market rate and more often the homes are not are in need of repair and updating. If you have a strong stomach and a flexible timeline then a short sale is a great way to get a deal. If not then there are better options out there.
Foreclosure (Bank has taken possession of the home):
A foreclosure occurs when a homeowner can no longer make payments on their home so the bank begins the process of repossessing it. A foreclosure usually moves much faster than a short sale and is more financially damaging to the homeowner. In our experience many foreclosures are sold as is and have been pretty beat up by the previous owner. After foreclosure the bank can sell the home in a foreclosure auction. For buyers, foreclosures are riskier than short sales, because homes are often bought sight unseen, with no inspection or warranty.
<br /><br />2017-11-28T04:37:00-07:002020-11-11T04:39:07-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6210Our Real Estate StoryThe Beginning
<img src="https://assets.site-static.com/userfiles/2576/image/19511082_10154489453517890_6548837102459900567_n_960.jpg" width="960" height="720" />Jennifer and I got married in 2001 after dating through college. We were always big dreamers. We loved to talk about business ideas and the exotic locations we wanted to travel to. Upon getting married, we had the crazy idea to move to California. I was a Navy Brat, so I had packed my fair share of moving boxes in my lifetime, but Jennifer was ready to set sail and see where the winds would carry us. I was happy to accommodate her. So after we got back from our honeymoon, we packed up our rental truck and drove across the country and ended up in San Diego. Both of us were newly out of college and both of us were in sales, so we knew that no matter where we ended up we would be able to find employment. San Diego was an amazing place, but we soon realized that it is not too different than Virginia Beach. It is a Navy town with a beach. This is of course a gross oversimplification, but at the end of the day we were looking for something very different from home and San Diego was not it. Jennifer went to a sales meeting up the coast in San Francisco. When she wasn't in meetings she spent her time driving around the city. I will never forget the moment she walked into our San Diego apartment from her trip. She burst in the door and said "We are moving the San Francisco". So we did. If you can dream it you can do it. It is the Ziemer way. In full disclosure though, it was also late fall and winter was right around the corner. As an avid snowboarder this meant we would be only a few hours from some of the best snowboarding in the country. That made it an easy decision for me.
The Adventure
<img src="https://assets.site-static.com/userfiles/2576/image/tl-horizontal_main_640.jpg" width="640" height="434" />San Francisco is where we first fell in love with real estate. Anyone who has been there knows that it is one of the most expensive housing markets in the world. We were in no way in a position to purchase a home, but we were going to learn first hand the hustle and bustle of the San Francisco rental market. Both Jennifer and I are deal hunters. We want to find the diamond in the rough or a great deal that no one else knows about. Then we can wheel and deal to get the best value. Once we found our deal Jennifer realized how much she loved designing our apartment as economically as she could (we were broke newly weds). After a few years of living the California lifestyle, we decided it was time to start a family. We knew we would end up back home at some point and we realized that now was the time.
Heading Back East
<img src="https://assets.site-static.com/userfiles/2576/image/untitled_design_940.jpg" width="940" height="788" />When we got back to Virginia, we rented a house in the Colonial Place section of Norfolk. It had that historic flare that we had grown to love in San Francisco. Not too long after we moved in, we realized that we should be paying a mortgage and not rent. We decided that it was time for us to buy our first home. This was in 2004, which if you were in the market at that time, you will remember that it was extremely competitive to buy a home. I remember numerous times showing up for a showing on the first day a home was on the market and there being a line down the sidewalk. We put countless offers on homes, only to be beat out by a no inspection cash buyer or someone willing to pay 20 grand over asking price. We couldn't and didn't want to compete with that. We were first time home buyers. We had our financing all lined up and now we just needed to find our home. We wanted a deal. We wanted something we could learn how to renovate on. We knew that we would need to learn how to be house hunting ninjas if we were going to find a home and not compete with 10 other buyers.
Our first Fixer Upper
<img src="https://assets.site-static.com/userfiles/2576/image/getmedia_394.jpg" width="296" height="394" style="float: left;" />We found a house. There was a 85 year old World War II survivor who was living in the Lafayette Winona area of Norfolk with his son and grand daughter. He had lived there for 40 years and the house was nearly one hundred years old. His health was failing and he had decided it was time to sell. He hadn't bought or sold a home in 40 years and the only way he knew to do it was to put it in the classified section of the paper. In 2004 nobody was looking in the classified section of the paper for homes. Well, except us. We saw it and immediately drove to the home and knocked on the door. We walked through the home. It was filthy, outdated and filled with cigarette smoke. Jennifer and I looked at each other and knew immediately that this was our house. We decided on the spot to make an offer and he accepted it. After we closed on the property, we took this home down to the studs and learned how to do a complete home renovation. There was a lot of caulking involved, a lot of late nights hanging drywall, but we learned a lot through trial and error. We learned that we loved real estate. Two years later we had finished renovating the home and we decided it was time to do it again. We sold the home at exactly the right time and made over 100% return on our investment.
The beginning of Ziemer Real Estate
<img src="https://assets.site-static.com/userfiles/2576/image/logo_compressed_400.jpg" width="400" height="400" style="margin: 20px auto; display: block;" />After we sold our first fixer upper, we bought, renovated and sold two more fixer uppers. A lot had changed in our family since that first home. We now had two kids and a third on the way. It was at this point that I threw in the towel and told Jennifer, "I needed a break". I felt like Forrest Gump when he decided to stop running. He was tired and so was I. This is when the idea for Ziemer Real Estate came to be. Why not help other people do what we have done and what we are so passionate about? We were really good at it and we could help make other peoples dreams a reality. Jennifer and I had always dreamed of having our own business. We wanted the freedom to dream and make those dreams come true. We wanted to be a resource and a blessing to our community by helping make each neighborhood a little bit better than we found it. We absolutely love real estate and we have a passion for home renovations and design. This is something that has been our dream since we sat in our 1 bedroom apartment in the Inner Richmond neighborhood of San Francisco. What an amazing gift it is to love what you do everyday. We feel truly blessed.
So fast forward to today. We have three amazing kids, a sproodle and a home in an amazing neighborhood that we continue to renovate in our free time. Our real estate business has grown every year. We are able to accomplish what we set out to do, which is to help other families dreams become a reality. We will celebrate our fifth year of being recognized by the Hampton Roads Realtors Association as one of the top real estate teams in our area. Dreams really can come true if you are willing to take a risk, work hard and always focus on other people before yourself.
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Let us know if you would like to chat more about our renovations, design or the real estate market. We are always here to dream with you.
Sincerely,
The Ziemers
Photos of Bathroom Renovation in Stephens Rd. house
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<img src="https://assets.site-static.com/userfiles/2576/image/149538_10151185300602890_2015814614_n_960.jpg" width="720" height="960" />2017-11-15T04:20:00-07:002020-11-11T04:36:37-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6212Tax Incentives for LandlordsTop 15 Tax Deductions for Landlords
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Before claiming any of these deductions, be sure to have detailed and thorough records to back them up. The IRS scrutinizes these deductions (some more than others), and you need to be prepared should you get audited. If you fail to have proper receipts and cannot validate the business necessity of each expense, you will have to pay the amount due, with interest, if you get audited.
1. Loan Interest/Points
If there is a mortgage on the property, the loan interest will probably be your single largest deductible expense.
Mortgage Interest (primary & secondary)
HELOC Interest for loans used to repair or improve the property
Credit card interest on items used for the property
Mortgage Points to purchase or refinance a rental property
Keep in mind, you can only deduct interest on money that was actually spent on your rental business. Therefore, you wouldn’t be able to deduct the interest of a withdrawn line of credit that is sitting in your bank account.
2. Depreciation of Assets
There are, in general, three types of costs you need to capitalize and depreciate:
The value of the structure, not the land
The value of improvements – such as appliances, carpet, windows, countertops, etc.
Equipment/Computers/Laptops
These expenses cannot be deducted in a single year, but rather must be spread out over multiple years.
3. Taxes
Often the real estate taxes are paid through the mortgage company, and therefore show up on the Form 1098 that is sent from the bank.
Other business-related wage taxes, permit fees, or personal property taxes are considered allowable deductions as well:
State, County and City Taxes
Social Security Taxes for Employees
Medicare and Unemployment Taxes for Employees
Personal Property Tax/Vehicle Tax
Permit Fees/Inspection Fees
4. Repairs
Repairs are defined as any effort to maintain the current condition of a property or asset.
Painting/Spot Patching
Plumbing Repairs
Air Conditioning Repair
Fixture Repairs
Labor Costs/Contractors
Incidentals related to a repair
Rental Fees for Tools/Equipment
5. Maintenance
Maintenance costs are often confused with repairs, however with maintenance, you’re not necessarily fixing anything. For example, the lawn will always need to be cut but it is never really “broken.”
You can also hire a pest company to treat the property every few months to prevent further infestations, even if the original pests are long gone.
Landscaping and Tree Trimming
Homeowner Association Fees
Pool Cleaning, Chemicals and Maintenance
Pest Control and Treatment
Tune-ups on Lawn Mowers, Chain Saws, Leaf Blowers, etc.
Light Bulbs
Smoke Detector Batteries
HVAC Filters
Janitorial Items
6. Insurance Premiums
All business-related insurance premiums are tax-deductible.
Homeowners Insurance
Mortgage Insurance Premiums
Fire/Damage/Liability Insurance
Flood Insurance Riders
Theft Insurance
Workers’ Compensation Insurance
General Liability Insurance
Personal Umbrella Insurance
7. Utilities
You can deduct the cost of any rental property utilities that you pay for. You are still allowed to claim utility expenses even if the tenants reimburse you later, but you also have to claim that reimbursement as income.
Electricity
Gas
Heating Oil
Water & Sewer
Trash & Recycling
8. Travel Expenses
Any long distance travel to visit your assets or to conduct rental business can be tax-deductible as a business expense.
Airline Fares
Car Rentals and Taxis
Hotels
50 percent of meal expenses during long-distance travel
9. Vehicles
When expensing business vehicles, the actual asset must be depreciated over multiple years, however the upkeep can be deducted in the year the expense was incurred.
You have the option of deducting actual expenses, or utilizing a <a href="https://www.irs.gov/tax-professionals/standard-mileage-rates" target="_blank">standard mileage rate</a> of 56.5 cents per business mile driven (as of 2013).
Business Vehicles (depreciable)
Mileage or Gas/Maintenance/Usage of Business or Personal Vehicles
10. Management Fees
Even the best landlords need help from time to time. If you hire a property manager, or even an on-site manager, you are allowed to deduct that expense.
Property Management Companies
Individual Property Managers
On-site Manager
Condominium Association Fees
Special Assessments
Note: You should try Cozy <a href="https://cozy.co/?utm_source=Landlordology&utm_medium=content&utm_campaign=llgy">property management software</a>. It’s free, and can automate some of the most time-consuming elements of running a rental business: <a href="https://cozy.co/for-landlords/tenant-screening/?utm_source=Landlordology&utm_medium=content&utm_campaign=llgy">tenant screening</a> and <a href="https://cozy.co/for-landlords/collect-rent-online/?utm_source=Landlordology&utm_medium=content&utm_campaign=llgy">collecting rent</a>.
11. Legal and Professional Fees
If you need to hire a pro, be it a lawyer, accountant or tax professional, you can expense the cost. If you ever have to evict a tenant, you can expense all reasonable court and filing fees.
Accounting Advice
Professional Tax Preparation
Tax Preparation Software (like TurboTax)
Structural Engineering and Consulting
Legal Fees
Lease Review and Editing
Court Filing Fees
12. Office/Operating Expenses
A home office deduction is one of the most commonly flagged deductions by the IRS – and for good reason. Many business owners abuse this deduction, but it should be utilized if you conduct business in your home. Keep great records for the time you spent using that space for business and logically subtract any personal usage.
Personally, I don’t expense the square footage of my home office. In my opinion, it’s not worth the headache.
Ink & Printer Paper
Pencils, Pens, and Staples
Rental Software (like <a href="https://www.landlordology.com/go/cozy" target="_blank">Cozy</a>)
Legal Forms
Rent Paid for Office Space
Square Footage of a Home Office
Phone Bills
13. Advertising
Radio, Newspaper, Online Ads
Signs and Banners
Ads in Phone Books
Printing and Postage for Mailers
14. Commissions
Commissions to Managers and Salespeople
Commissions for Tenant Referrals
15. Start Up Expenses
<a href="http://www.nolo.com/legal-encyclopedia/deducting-expenses-you-incur-before-your-real-estate-business-begins.html" rel="author">Stephen Fishman, J.D.</a> says, “Any expense that would be deductible as an operating expense by an ongoing business is a start-up expense when it’s incurred before a business begins. Unlike operating expenses, start-up expenses cannot automatically be deducted in a single year. This is because the money you spend to start a rental (or any other) business is a capital expense—a cost that will benefit you for more than one year.”
The maximum allowable deduction for start-up expenses in the first year is $5000.2017-11-07T04:40:00-07:002020-11-11T04:42:59-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6213Empty Nesters: Best To Remodel Or Time To Sell?<img src="https://assets.site-static.com/userfiles/2576/image/20170831-Share-STM.jpg" width="750" height="410" />
Your children have finally moved out and you and your spouse now live alone in a four-bedroom colonial (or a similar type of house). You have two choices to make:
Remodel your house to fit your current lifestyle and needs
Sell your house and purchase the perfect home
Based on the record of dollars spent on remodeling and renovations, it appears that many homeowners are deciding on number one. But, is that the best long-term solution?
If you currently live in a 3-4-bedroom home, you probably bought it at a time when your children were the major consideration in determining family housing needs. Along with a large home, you more than likely also considered school district, the size of the property and the makeup of other families living in the neighborhood (example: you wanted a block with other kids your children could play with and a backyard large enough to accommodate that).
Remodeling your home to meet your current needs might mean combining two bedrooms to make one beautiful master suite and changing another bedroom into the massive walk-in closet you always wanted. However, if you live in a neighborhood that historically attracts young families, you may be dramatically undermining the value of your house by cutting down the number of bedrooms and making it less desirable to the typical family moving onto your block.
And, according to a <a href="http://www.remodeling.hw.net/cost-vs-value/2016/trends">recent study</a>, you will recoup only 64.4% of a remodeling project’s investment dollars if you sell in the future.
Your home is probably at its highest value as it stands right now. Instead of remodeling your house, it may make better financial sense to sell your current home and purchase a home that was built specifically to meet your current lifestyle and desires.
In many cases, this well-designed home will give you exactly what you want in less square footage (read less real estate taxes!) than your current home.
Bottom Line
If you are living in a house that no longer fits your needs, at least consider checking out other homes in your area that would meet your lifestyle needs before taking on the cost and hassle of remodeling your current house.2017-09-05T04:18:00-07:002020-11-11T05:21:12-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6214Why using a realtor in a seller's market is still the smart thing to do.When we have a real estate market like we are in now where inventory is low and there are buyers chomping at the bit to buy homes the natural tendency for some seller's is to try and sell it on their own. Before Jennifer and I started selling homes for a living we would have thought the exact same thing. Why not right? You can save all that money on commissions. Now that we are in the business and have seen our fair share of "bro deals" go bad we wanted to share the pit falls that most homeowners don't think about and why would they. Sometimes you don't know what you don't know.
What if we told you we can get you the same or more money than you would by selling it on your own even after paying for our services. In most cases homes that are for sale by owner sell for less money and take longer to sell. So why is that????
Inaccurate pricing: There are a number of factors that play into pricing a home. First off, what has sold in the last 6 months to a year. Second, what is the demand like for homes in the neighborhood/area and third, what is the supply like in the neighborhood. All three of these factors effect how a home is priced. It is as much an art as it is a science. Right off the bat I have seen homes under priced because they didn't know how interpret these three factors and this contributed to them selling for less than they needed to.
Decreased exposure equals decreased demand: We market homes at a very high level utilizing numerous channels to get our listings in front of every buyer out there. If a seller is only getting their home in front of a fraction of the buyers actively looking then right there you have a decrease in demand which according to the laws of supply and demand will equal a lower sales price. We have seen this be true time and time again.
Professional Marketing: We are expert marketers and we spend quite a bit of money making sure you home looks better than the competition. This helps sell homes for more money. Plain and simple.
Emotional Attachment: Jennifer and I sold our home in Alanton a few years ago and moved around the corner. In all honesty, that was the worst negotiation we have ever been a part of. If I had an agent cave like we caved on the terms of the deal and the inspection repairs, I would have fired them immediately. The reason for this is we were emotionally involved in the home. This was the home where we were raising our three kids. We had pride of ownership so anything they asked for we gave it to them regardless of what the market conditions were at the time. That is not how we represent our clients. We want to make sure they do what they feel is right but at the end of the day this is a major financial decision and having an unemotional advocate is invaluable.
You are going to likely pay a buyers agent 3%: 90% of home purchases have a real estate professional involved. If a seller isn't willing to pay the commission of a buyers agent then the likelihood that a buyers agent will bring a buyer to see their home is slim to none. So if a homeowner is willing to pay a buyers agent 3% then we are now talking about 3% being the determining factor to not hire a listing agent.
Sellers can get taken advantage of: Another thing that a lot of sellers don't realize is that if they receive an offer from a represented buyer they a non represented homeowner are negotiating against someone that sells homes for a living. Do think that those are fair odds? I have helped buyers purchase homes that were for sale by owner and after I negotiated the best deal possible for my buyers the home appraised for 75k more than what we negotiated. Had that seller been represented they would have walked away with a lot more money in their pocket.
Buyers want to share in the savings: A buyer that is buying a for sale by owner home expects to get a deal. They know what the sellers are are doing and they want to get a piece of the savings as well. That's only fair right.
Here is an example of home in our neighborhood that just recently sold for sale by owner. There were very few homes on the market at the time and the price point was at the entry point for the neighborhood. All the indicators of a quick sale for the highest amount of money. We received a phone call after the home had been on the market for a few months and they were not seeing any buyers. We sat down and explained that we could net him more money than he would net on his own. In between the time of us meeting and the seller making a decision they received an offer which they accepted and ended up closing on. In this situation I truly believe we would have made them more money. Here is a summary of how it played out.
For Sale By Owner Listing Price: $445,000 Market Price (what we listed it for): $460,000
Sales Price: $440,000 Projected Sales Price : $455,000 -$460,000
Broker Commissions (3% for buyers agent): $13,200 Broker Commission (6%) : $27,300 - $27,600
Seller Concessions (estimated): $9,000 Seller Concessions (estimated): $6,000
Net Proceeds: $417,800 Net Proceeds: $421,700-$426,400
Before you sell your home to your friend or through facebook or on fsbo.com, give us a call. I know it sounds easier that way but the reality is you end up losing money in the long run. 2017-05-04T04:21:00-07:002020-11-11T05:22:42-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6215How to find a house in a seller's market<img src="https://assets.site-static.com/userfiles/2576/image/sellers_market_meme_540.jpg" width="540" height="378" style="display: block; margin-left: auto; margin-right: auto;" />
"What if my home sells and I can't find a home to buy?????"
In a seller's market like we are in, this is most common question that we hear. We understand that the thought of being homeless is pretty scary. We get that. It is especially hard when a client wants to buy a home in a highly sought after neighborhood. Well that is of course unless you hire the Ziemers. If you have ever had the opportunity to see our marketing presentation, one of the promises we make to our clients is that we will work both HARD and SMART to ensure that our clients needs are met. So what does that look like if a client can't find a home? We have number of techniques that we utilize that produce results for our clients.
Social Media: We have a proven strategy using social media to find sellers that are thinking about selling but haven't listed their homes yet.
Door Knocking: If a buyer has a specific neighborhood that they want to be in we will help them identify homes that meet their criteria. We will then hit the pavement and start talking to these home owners. If we identify a potential home seller, we will preview the home to see if we think it will be a good fit then schedule a showing with our client. Not many agents are willing to do this. We are!
Mailing Campaigns: We utilize a real estate algorithm that helps us identify homeowners most likely to sell their home in the near future. We can then send out mailings that state our desire to preview their home for a client. If a homeowner is thinking about selling then more times than not they are willing to do a one time showing to see if they can skip the hassle of listing their home.
Word of Mouth: As active participants in our community and having lived here for most of our lives, we are able to tap into our expansive network of family and friends to identify if there are homes coming on the market. Don't underestimate the 7 degrees of separation!
Other Agents: There are some agents that work in specific areas almost exclusively. Often times they will have clients that are looking to sell at some point in the near future. We will call and ask these agents what they have coming up and tell them what we have clients looking and would love a pre listing showing. This allows us to get the first shot at putting together a deal before it hits the market and every other buyer is given access to the property.
We have buyers who are already represented by agents that reach out to us directly to ask if we know of any homes coming on the market in specific neighborhoods that they know we specialize in. It is these inquiries that makes me realize that we work a lot harder for our clients than the vast majority of agents out there. If you are in this situation please give us a call. We can come up with a specific plan for finding you the perfect home and work hard to make that dream a reality.
The Ziemers2017-04-25T04:23:00-07:002020-11-11T05:25:11-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6216Client Beer Tasting Event2017-04-01T04:25:00-07:002020-11-11T05:26:30-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6217What to expect at your home inspectionHow to Choose an Inspector
We have a short list of inspectors that we have worked with in the past that we can recommend to you. Realtor.com <a href="http://www.realtor.com/advice/buy/five-areas-to-focus-on-when-hiring-a-home-inspector/" target="_blank" data-saferedirecturl="https://www.google.com/url?hl=en&q=http://www.realtor.com/advice/buy/five-areas-to-focus-on-when-hiring-a-home-inspector/&source=gmail&ust=1485871773538000&usg=AFQjCNG3MxNpkww4X-Ed-hCCXgjDTcY_lA">suggests</a> that you consider the following 5 areas when choosing the right home inspector for you:
Qualifications – find out what’s included in your inspection & if the age or location of your home may warrant specific certifications or specialties.
Sample Reports – ask for a sample inspection report so you can review how thoroughly they will be inspecting your dream home. The more detailed the report, the better in most cases.
References – do your homework – ask for phone numbers and names of past clients that you can call to ask about their experience.
Memberships – Not all inspectors belong to a national or state association of home inspectors, and membership in one of these groups should not be the only way to evaluate your choice. Membership in one of these organizations often means that there is continued training and education provided.
Errors & Omission Insurance – Find out what the liability of the inspector or inspection company is once the inspection is over. The inspector is only human after all, and it is possible that they might miss something they should have seen.
Ask your inspector if it’s ok for you to tag along during the inspection, that way they can point out anything that should be addressed or fixed. Don’t be surprised to see your inspector climbing on the roof, crawling around in the attic, and on the floors. The job of the inspector is to protect your investment and find any issues with the home, including but not limited to: the roof, plumbing, electrical components, appliances, heating & air conditioning systems, ventilation, windows, the fireplace & chimney, the foundation and so much more!
Bottom Line
They say ‘ignorance is bliss,’ but not when investing your hard-earned money in a home of your own. Work with a professional you can trust to give you the most information possible about your new home so that you can make the most educated decision about your purchase.2017-01-30T05:26:00-07:002020-11-11T05:27:32-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6218What to make of online school reviews...What is the best school in Virginia Beach? That is a difficult question to answer. It is not as black and white as one would think. With the abundance of online ratings metrics it should be as simple as looking at the school in the number one position.... but it isn't that easy. Schools are like children, every parent thinks their kid (school) is the best. If you ask me which elementary school in Virginia Beach is the best, I will tell you Alanton. Why, well because I have had 3 children go to school there and we have had an outstanding experience. To an outsider though the online rating says that Alanton is only a 6 and the school down the street is a 10. Well that's a no brainer, right..... So I did a little digging to find out why there is such a discrepancy between a families personal experience and the online ratings. Here is what I found.
Single data point used: The website greatschools.org, which is one of the most visited school review websites uses as much data as they can get from school systems. In our case, Virginia only gives them one test score that they then compare with every other school in the state. They then assign score based on how each school compares. So let's stick with our elementary school example. So what do they use to evaluate our elementary schools? The SOL or Standards of Learning test that is administered at the end of each school year. So here is the problem with this. Anyone who has endured SOL's knows that they don't start taking them until 3rd grade. So right there you have Kindergarten, 1st and 2nd grade not being evaluated for the online school rankings. That is essentially half the school. Other school states provide information on how much improvement students are making from one year to the next as well in high school they provide a rating of how prepared they are for college. With those two additional data points you get a much better reflection of how the school is doing but in Virginia we don't have that luxury.
Academy's: Virginia Beach has an amazing academy program for its gifted and high achieving students. Programs are offered at a number of high schools in addition to the normal zoned students. Programs include programs such as the Legal Studies Academy at First Colonial and the Math and Science Academy at Ocean Lakes. Not coincidentally the academy schools are ranked as some of the top schools in the city. The reason being that they bring in the brightest and the smartest kids from around the city who have high test scores which increase the schools average. This artificially increases the rating for the school because essentially it is two separate student bodies and curriculum's and they should be graded separately.
Out of zone busing: Some of the schools bus students in from under performing schools. In my eyes this is a good thing. It brings together a diverse group of students who can share their different perspectives with each other in the classroom. However from a school rating perspective it lowers the schools overall score. The reason goes back to the single test score that dictates a schools ranking. On average the students coming from under performing schools don't perform as well on the SOL's which brings down the overall average of the school. Does this mean that the school down the street that is made up of only people that live within a certain boundary is a better school because they have higher test scores? Absolutely not.
Summary: I always tell clients to take the school ratings with a grain of salt and only use it as a part of your evaluation. Here are some additional ways to evaluate the quality of a school.
Additional ways to evaluate a school:
Visit the school: I always suggest you schedule an appointment with the Principal and see the classrooms. You can tell a lot by just being in the school when class is in session. Are the kids excited to be there. More importantly are the teachers and office staff excited to be there.
Talk to other parents: If you have other friends in the area, ask them what they think. If you don't have anybody to ask and you have a specific school you are wondering about, ask us. We can find you a first hand perspective.
Look at the PTA: I like to say that a school is only as good as its parents. Good students come from involved parents and what better way to figure that out than to look at the PTA. How active are they?
If you ever have any questions about local schools we would be happy to talk with you about it. Our schools are one of our biggest assets so we are very proud of the education that they provide.
Best Regards,
Eric & Jennifer Ziemer2017-01-04T05:27:00-07:002020-11-11T05:28:30-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6219Selling in the Winter Attracts Serious Buyers
People always ask us when the best time to list their home is. While Spring has always been thought of as the best time to sell a home, our business has shown that we do quite a bit of business in the winter too. This article and study puts some data behind what we have always found to be the case. Winter is a great time to sell. Less inventory and more motivated buyers equals better offers and quick closings. Let us know if you would like to discuss your home sale options. We are here to offer our expert opinion on how to sell your home for the most amount of money.
A recent <a href="https://www.redfin.com/blog/2016/11/home-sellers-spring-is-great-but-listing-in-winter-pays-off-too.html" target="_blank">study</a> of more than 7 million home sales over the past four years revealed that the season in which a home is listed may be able to shed some light on the likelihood that the home will sell for more than asking price, as well as how quickly the sale will close.
It’s no surprise that listing a home for sale during the spring saw the largest return, as the spring is traditionally the busiest month for real estate. What is surprising, though, is that listing during the winter came in second!
“Among spring listings, 18.7 percent of homes fetched above asking, with winter listings not far behind at 17.5 percent. While 48.0 percent of homes listed in spring sold within 30 days, 46.2 percent of homes in winter did the same.”
The study goes on to say that:
“Buyers [in the winter] often need to move, so they’re much less likely to make a lowball offer and they’ll often want to close quickly — two things that can make the sale much smoother.”
<img src="https://www.redfin.com/blog/wp-content/uploads/sites/5/2016/11/Overview.png" alt="Overview" />
Bottom Line
If you are debating listing your home for sale within the next 6 months, keep in mind that the spring is when most other homeowners will decide to list their homes as well. Listing your home this winter will ensure that you have the best exposure to the serious buyers who are out looking now!
The study used the astronomical seasons to determine which season the listing date fell into (Winter: Dec. 21 – Mar. 20; Spring: Mar. 21 – June 20; Summer: June 21 – Sept 21; Autumn: Sept 21 – Dec. 20).
Article Courtesy of www.keepingcurrentmatters.com
2016-12-07T05:28:00-07:002020-11-11T05:30:09-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6220Thinking of Selling? Don’t Overlook an Outdated Kitchen, Buyers Won’tIf you are planning on listing your home for sale, make sure that you don’t overlook the condition of your kitchen. A recent <a title="article" href="http://www.realtor.com/advice/home-improvement/signs-your-kitchen-is-outdated/?iid=rdc_news_hp_carousel_theLatest" target="_blank">article</a> on realtor.com listed “7 Signs Your Kitchen Is Way Overdue for a Renovation,” in which they warned:
“Dated kitchens—just like bathrooms—are a major barrier for resale. Buyers want modern amenities and styling, and most aren’t interested in renovating post-purchase.”
Kitchen remodels can be pricey, with many complete remodels costing $20,000 or more. But not every kitchen needs a full remodel. There are many smaller projects that will help buyers see themselves trying their favorite Pinterest recipe in your home!
Here are a couple of <a title="project ideas" href="http://www.apartmenttherapy.com/before-amp-after-a-fresh-kitchen-makeover-for-under-500-212147" target="_blank">project ideas</a> that, if you’re handy or know someone who is, could end up boosting your home’s value without breaking the bank:
Are the cabinets in good shape but need an update? A new coat of paint and some updated hardware will instantly freshen up the space and drastically change the feel of the room all for under $300.
A new backsplash to match the freshly painted cabinets updates the space and adds some style while staying under $200, depending on the size of the room.
If the kitchen seems dark, consider adding LED under cabinet lighting for around $40.
If replacing the countertops in the kitchen isn’t within your budget, consider using a top coat to cover the current countertops.
Bottom Line
Kitchens and bathrooms are often make or break for buyers when touring a home or searching through photo galleries online. Please contact us so we can help you identify which small projects could pay off big!
Eric & Jennifer Ziemer2016-11-23T05:30:00-07:002020-11-11T05:31:51-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6221Homeownership is now 37% less than renting!Buying is Now 37.7% Cheaper Than Renting in the US
<img class="alignnone size-full wp-image-54136" style="font-size: 12px;" src="http://www.keepingcurrentmatters.com/wp-content/uploads/2016/10/20161025-Share-KCM-1.jpg" alt="Buying is Now 37.7% Cheaper Than Renting in the US | Keeping Current Matters" width="550" height="289" />
The results of the latest <a title="Rent vs. Buy Report" href="https://www.trulia.com/blog/trends/rent-vs-buy-oct-2016/" target="_blank">Rent vs. Buy Report</a> from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.
The updated numbers actually show that the range is an average of 17.4% less expensive in Honolulu (HI), all the way up to 53.2% less expensive in Miami & West Palm Beach (FL), and 37.7% nationwide!
Other interesting findings in the report include:
Interest rates have remained low, and even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation.
Home prices would have to appreciate by a range of over 23% in Honolulu (HI), up to over 45% in Ventura County (CA), to reach the tipping point of renting being less expensive than buying.
Nationally, rates would have to reach 9.1%, a 145% increase over today’s average of 3.7%, for renting to be cheaper than buying. Rates haven’t been that high since January of 1995, according to Freddie Mac.
Bottom Line
Buying a home makes sense socially and financially. If you are one of the many renters out there who would like to evaluate your ability to buy this year, give us a call so we can help you find your dream home.
Eric and Jennifer Ziemer - 757-639-9627 - info@ziemerrealestate.com
<img src="http://www.keepingcurrentmatters.com/wp-content/uploads/2016/10/20161014-Rent-vs.-Buy-KCM.jpg" alt="Do You Know the Cost of Renting vs. Buying? [INFOGRAPHIC] | Keeping Current Matters" />
Article from Keeping Current Matters
2016-10-27T04:31:00-07:002020-11-11T05:33:50-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6222The Ziemer Team welcomes Kelly Fite<img src="https://assets.site-static.com/userfiles/2576/image/kelly_1162.jpg" width="1162" height="775" />
The Ziemer Team is happy to announce that we have added another agent to our wonderful team!
Kelly Fite moved to Virginia Beach from Grand Rapids, Michigan after marrying her high school sweet heart. Being a military spouse left her with a longing to connect and build relationships with the people around her. After 4 years of teaching preschool and having 2 children of her own, a door opened giving her the opportunity to become a Realtor. This career change was something she had dreamed of, because it gave her an opportunity to focus on adult relationships while still allowing special time for her family. Kelly is devoted to serving the Lord, her husband, two sons, and now her future clients.
Grateful for this opportunity, Kelly looks forward to diving head first into her new career as a Realtor. She has a servant’s heart and loves to give and serve others. She plans to provide quality service with honesty and integrity while building open relationships with the families she works with.
The Ziemer Team is so grateful to add Kelly to our growing team!
<img src="https://assets.site-static.com/userfiles/2576/image/kelly_fam_1162.jpg" width="1162" height="775" />2016-09-15T04:34:00-07:002020-11-11T05:37:47-07:00Eric Ziemertag:ziemerrealestate.com,2012-09-20:6224The Value of a Professional Opinion<img src="https://assets.site-static.com/userfiles/2576/image/wynngate_dr-11_2250.jpg" width="2250" height="1500" />UNDER CONTRACT: This home on Wynngate Drive went under contract in less than 24 hours and for FULL PRICE. When the sellers contacted us, they wanted to know what they should do to ensure a quick sale, but also get the most money out of their home. We gave them a list based on what we know buyers are looking for--we helped them focus on what would pack the most punch and what would take their hard earned money the farthest. It is not always about the bells and whistles that sell a home, but usually buyers want to see a home that is well maintained and cared for, with fresh paint and no clutter. There are a lot of ways to achieve this, and we are happy to walk through the process with our clients. We also have a trusted network of contractors and professionals that we can recommend. We even offer full staging for those who want the extra WOW factor!
2016-09-13T04:38:00-07:002020-11-11T05:41:01-07:00Eric Ziemer