Dec. 6, 2018

6 Important Reasons Why You Should Never Buy Or Sell Alone

 

Having been in real estate since 2004 I keep thinking I have heard and seen it all, but then someone else's story pops up and my team and I are shocked yet again at what kind of hiccups a lack of experience can cause buyers and sellers.

Experience definitely matters, so please keep that in mind when choosing who you want to work with to achieve your real estate goals.

Keeping this in mind, I have created a list of
6 Important Reasons You Should Never Buy Or Sell Alone

 

  1. Knowing what designs, floor plans, upgrade now vs later - these will play into your long-term investment and having someone with experience by your side, who has completed hundreds of transactions, makes sense, yes?
  2. The internet and apps are not ALWAYS your best friend when it comes to searching for a home. Yes, you can see the basics online. Yes, your app may notify you as soon as a property comes on the market - but at the end of the day, it is a machine. It does not have access to off-market properties. We have 2 people on our team whose only job is to find off-market properties - the spend all day looking for them, every day!
  3. How much time have you spent studying Fair Housing Laws and knowing how to navigate through this HUGE transaction without breaking any of those laws? It is our JOB to know the law when it comes to buying and selling real estate - that law applies to you too, correct?
  4. How do you buy a house? What does a contract look like? What forms do you need in order to purchase or sell a piece of property? How do you make sure that you are not being hoodwinked on the pricing? Are you familiar with a contingency and how to fulfill/remove it so you don't lose $$$$$$? An experienced real estate agent will help protect your interests and work to get you the most money possible in your transaction.
  5. Selling and buying a home is STRESSFUL. There are a LOT of emotions that go into both sides of this transaction and having someone to work on your behalf, to be a real estate therapist if you will, is beneficial in so many ways. Think about it, have you ever made a bad choice when emotional? Having someone who is neutral and can be the rock needed to keep everything steady will help you in the long run in getting through this major purchase!
  6. When working with an agent, you SAVE/MAKE MORE $$$$$$$$. Statistically speaking, when you sell with a Realtor you make 8% more than you would if you tried to do a For Sale By Owner. To make that speak a little louder, on a $400,000 house - you will make, on average, $32,000 more than if you had tried to sell on your own. It is our job to represent your best interests to the best of our abilities - it is our job to make you money!

Give us a call today if you are thinking of buying or selling!
703-338-0872

 

Nov. 1, 2018

Watch This Oakton Home Transform!

Inherited Home Renovation Project

Let's check out what's going on...

 

Next Phase

 

Third Phase

 

And Finally...

Click Here To See The Final Product

Oct. 11, 2018

End of Summer 2018 Market Update

End of Summer Market Update

Each year the summer market in our area goes a bit crazy, everyone seems to go into a bit of a tizzy to get their home on the market and/or into their new home before school starts. As of the past few weeks, the market has started to cool off. Check out this video as Kim explains what's been seen and what it seems the housing trends are going to do. 

Main Points ::

  • Focused on Loudoun & Fairfax Counties
  • Sales prices have had a little bit of appreciation
    Ex: Gone from $500k to $520k
  • Average Days On Market: 30-45 days, selling faster than the national average of 3-6 months
  • Higher interest rates (around 4.5%) affecting affordability
  • Tons of growth in our areas 
  • Loudoun County expecting an influx of 60,000 homes needed in the next 20 years
  • Our market is STABLE
  • Any home priced below $500k tends to sell much faster 
  • Two of our specialties are in Market Updates and Downsizing, please visit our website at www.KimBarberGroup.com 

Click Here to visit our website for a FREE home value to see what buyers are paying for homes in your neighborhood!

Posted in Real Estate Market
June 5, 2018

Cascades Townhome Gets A KBTV Makeover - FINALE

All renovations have been completed and EVEN BETTER - this home went under contract in under 24 hours of being listed! 

If you remember, this home was listed previously for over 200 days! The previous agent gave no guidance, no suggestions and our clients were left feeling hopeless and like there was nothing they could do to sell this home! 

In comparison, Kim talked these sellers through what was keeping the house from selling and then followed through with guiding them through the process of renovating this home to make it sell for top dollar! 

They are more than doubling their money on the sale of this home!!!If you or anyone you know has a home that needs selling - we would love the opportunity to talk.

Give us a call 703-338-0872

April 23, 2018

Cascades Townhome Gets A KBTV Makeover - Part 2

Today Kim walks through to show the process of this home's makeover. Different contractors working on different things - updating the flooring, fixtures, giving the entire kitchen a facelift...definitely a lot of different things going into making this home ready for the market!

How do you know which things to update to maximize your budget - whether you have a large, small or no budget - we help you build and execute a strategy to bring you the highest return on the sale of your home!

Call us today at 703-338-0872!

 

Posted in Home Improvement
April 11, 2018

Cascades Townhome Gets A KBTV Makeover - Part 1

Ever wondered what it takes to get a house ready for the market and what Realtors are thinking as they walk through prior to listing? One of our passions at the Kim Barber Group is to assist our sellers in creating a strategy in which to get top dollar when selling their homes. What updates do we consider? Some are more expensive than others that bring more of a return! Kim will go through the home with you and create a custom strategy for your home - we know different suppliers and contractors who work with us and provide discounts for our clients.

Side Note :: Some of Kim's Facebook Lives were lovingly nicknamed "Kim Barber TV aka KBTV" recently. We'll be posting more of this specific home's progress as it gets closer to listing as well as others we've been working on. Like our Facebook page to follow the progress as it gets posted!

March 15, 2018

2018 First Quarter Market Update

The real estate market is constantly fluctuating based on many different factors. In this video, I discuss some of what the trends are from the first quarter heading into the second quarter coming up. A few of the main points are:

  • Interest rates are rising. The days where a 3.25% fixed rate was common have come to an end. 5, 10 & 15 year arms are becoming more popular as the rates are typically lower. We expect to see rates continue to rise, especially in the next two weeks. This is having an effect on buyers in that while many were waiting, they are now feeling the pressure to buy so they can get rates while they're still relatively low. 
  • Inventory is at an all-time LOW. This is actually country-wide. We're seeing a lot of multiple offer situations in the less than $750,000 price range. Buyers are having to be creative and competitive with their offers.
  • Rising interest rates + Pressure on the market from buyers COULD = Prices to likely increase

If you'd like to know more or are looking to buy or sell give us a shout at 703-338-0872

Posted in Real Estate Market
March 2, 2018

Join Us At Dance-A-Palooza 2018

March 23rd, 2018 from 7 PM - 10:30 PM 
@ Tally Ho Theater in Leesburg

Tickets are $10 | $20 for VIP 
(All Net Proceeds Go To LAWS)

Click Here to purchase tickets!

Loudoun Abused Women Shelter provides a full array of comprehensive services to adult and child victims of domestic and sexual violence. Besides providing emergency shelter, LAWS also delivers assistance to victims at our Community Services Center where we provide counseling, legal services, support groups, parenting classes, advocacy, and community outreach. LAWS also runs the Loudoun Child Advocacy Center. The Center is a public/private partnership among Loudoun County agencies and organizations dedicated to child victims of abuse and/or neglect. Their work is incredibly important and we would greatly appreciate you joining us to dance the night away for charity! Will be an amazing time!

Feb. 14, 2018

Study Shows “Millennials Deserve More Credit”

Study Shows "Millennials Deserve More Credit" | MyKCM

When it comes to talking about millennials, there are many stereotypes out there that have influenced the way the public feels about the generation. Whether it’s the assumption that millennials are irresponsible with money and would rather buy avocado toast than save for a down payment, or that millennials jump from job to job, the majority of these stereotypes paint the generation in a negative light.

A new study by Bank of America entitled Better Money Habits Millennial Report recently came to the defense of the generation when it reported that:

“Millennials deserve more credit – both from themselves and from others – for their mindfulness when it comes to money and their lives.”

Here are some key takeaways from the study proving that millennials deserve more credit for what they are already doing:

  • 63% are saving – (47% have $15,000 or more in savings)
  • 54% are budgeting – (73% who have a budget stick to it every month)
  • 57% have a savings goal – (67% who have a goal stick to it every month)
  • 46% have asked for a raise in the past 2 years – (80% who asked for a raise got one)
  • 59% feel financially secure – (16% have $100,000 or more in savings)

Many have wondered if millennials even want to own their own homes or if they would choose to rent instead. Well, not only do they want to own their own homes, but many already do and are looking to trade up! A recent study by realtor.com shows that 49% of Americans who plan to sell their home in the next 12 months are millennials!

Danielle Hale, realtor.com’s Chief Economist, gave some insight into why millennials are looking to sell,

“The housing shortage forced many first-time homebuyers to consider smaller homes and condos as a way to literally get their foot in the door. Our survey data reveals that we may see more of these homes hitting the market in the next year.”

Bottom Line

Not every millennial fits into the stereotypes that are so prominent in our society. Those who have risen above the stereotype are ready and willing to buy a home of their own, and many others already have!

Feb. 12, 2018

2 Major Myths Holding Back Home Buyers


2 Major Myths Holding Back Home Buyers | MyKCM

Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership,” which revealed that eighty percent of consumers either are unaware of how much lenders require for a down payment or believe all lenders require a down payment above 5 percent.”

Myth #1: “I Need a 20% Down Payment”

Buyers often overestimate the down payment funds needed to qualify for a home loan. According to the same report:

Consumers are often unaware of the option to take out low-down-payment mortgages. Only 19% of consumers believe lenders would make loans with a down payment of 5% or less… While 15% believe lenders require a 20% down payment, and 30% believe lenders expect a 20% down payment.”

These numbers do not differ much between non-owners and homeowners; 39% of non-owners believe they need more than 20% for a down payment and 30% of homeowners believe they need more than 20% for a down payment.

While many believe that they need at least 20% down to buy their dream home, they do not realize that programs are available that allow them to put down as little as 3%. Many renters may actually be able to enter the housing market sooner than they ever imagined with programs that have emerged allowing less cash out of pocket.

Myth #2: “I Need a 780 FICO® Score or Higher to Buy”

Similar to the down payment, many either don’t know or are misinformed about what FICO® score is necessary to qualify.

Many Americans believe a ‘good’ credit score is 780 or higher.

To help debunk this myth, let’s take a look at Ellie Mae’s latest Origination Insight Report, which focuses on recently closed (approved) loans.

2 Major Myths Holding Back Home Buyers | MyKCM

As you can see in the chart above, 53.5% of approved mortgages had a credit score of 600-749.

Bottom Line

Whether buying your first home or moving up to your dream home, knowing your options will make the mortgage process easier. Your dream home may already be within your reach.