May Newsletter

I’m Still Amazed…

The real estate market never ceases to amaze me. We have weeks, months and years where sales go up and down, prices go up and down, inventory goes up and down, but now, we are dealing with people’s emotions going way up and way down – including real estate agents. The lack of inventory in some areas have resulted in buyers losing out multiple times on their home of choice. They become frustrated and make irrational decisions on prices, terms or location. These decisions will have an impact on their financial lives as well as their quality of life (including potentially longer commutes). When clients lose out on offers multiple times, agents get frustrated too, either because the clients don’t listen on how to position themselves or with other agents believing they were treated unfairly during the negotiations. This is why it is imperative to work with an experienced agent to help you navigate through this emotional time in real estate. An agent that has been there before, understands what is going on and can provide the right advice so you (or someone you know looking to buy) get the proper guidance and the house you want – without getting tied up in the emotion adding stress to the situation. Well, guess what? After 30 years in the market I have been through these types of turbulent, emotional times and I can lead you or someone you know through these situations, just call me. I will help everyone stay calm and focused on the eventual task which is getting the house sold or buying the right property. Those of you who have worked with me often times over multiple transactions will surely recall my personal real estate mantra: “Never operate out of fear.” Now is the time to prepare, position and at the right time pounce!

Keeping with the amazement theme, we still have very low inventory levels – 20% below last year’s levels. This is creating the type of market I just mentioned. Unfortunately, sellers are not immune to the emotions of selling. Unrealistic expectations of timing, pricing and response times from buyers/buyer agents make for stressful times during selling. It is important to have the right expectations when selling a house, mostly to keep the seller on an even keel. Once again, I am here to help provide the right advice, guidance and emotional balance to get you through the home selling process, just give me a call. I am happy to help!

Have a great Memorial Day!

It’s a good life.

Chris

Local Events

Don’t miss out on any of the exciting Memorial Day events in Nothern Virginia!

Arlington National Cemetery

Fairfax County

Northern Virginia Fine Arts Festival – Reston Town Center
May 17 –19, 10am-5pm. The Northern Virginia Fine Arts Festival, now in its 28th year, is one of the “top five” outdoor art festivals in the country with a long-standing reputation for showcasing high-quality hand-crafted, one-of-a-kind artwork in a dynamic outdoor setting that draws affluent and knowledgeable clientele. This unique event is presented in Reston Town Center attracts approximately 30,000 patrons annually from the Washington, DC metropolitan region and beyond. The Festival benefits Greater Reston Arts Center, a 501c3 nonprofit, located in Reston Town Center. Festival programs will once again be available on-site with almost $100 worth of restaurant coupons for a $5 donation to GRACE; it will pay for itself over lunch!

Herndon Festival – 200 Spring Street, Herndon, VA 20170
May 31—June 2, 2019. Admission is Free The Herndon Festival, produced by the Town of Herndon Parks & Recreation Department with assistance from area civic organizations and businesses, is one of Northern Virginia’s top FREE outdoor events, which attracts over 80,000 people over the four days. The event features a carnival all four days, two stages of entertainment, a 10K/5K Race & Fitness Expo, children’s hands-on art area, kids alley, business expo, arts and crafts vendors, and an assortment of food vendors. Visit www.herndonfestival.net for detailed information. Free admission and free
shuttle bus service available.

Arlington County

Arlington National Cemetery Memorial Day Ceremony & Concert
May 27, 2019 – 11am – About 5,000 visitors attend each of the two major annual remembrance ceremonies in the Memorial Amphitheater. They take place on Memorial Day and Veterans Day and are sponsored by the U.S. Army Military District of Washington. At 11am, a wreath-laying ceremony and concert will be held at the Tomb of the Unknown Soldier in honor of Memorial Day. For complete description and information on item restrictions and shuttle service, please visit www.arlingtoncemeraty.mil for more details.

Check out more Memorial Day Events happening in Northern Virginia – visit: www.virginia.org/memorialday

Partner Spotlight

MVB Mortgage

The Burruss Team

The Burruss Team at MVB Mortgage is not your average, local mortgage lender. Are you looking to buy a new home before you sell your current home? Call Josh. Have you been self employed just less than 2 years and no one can give you a loan? Call Josh. Here at MVB Mortgage, we are a true portfolio lender. That means we have control to make “common sense” underwriting decisions in a lending world that is turning into online algorithms.

We have the products for everyone from first time buyers to construction and renovation clients. The highest level of customer service is our hallmark and closing each loan on-time is a standard by which we measure ourselves. In a highly competitive real estate market, the Burruss Team is there to support your every need. With a staff of 4 individuals, there is always coverage for you. With over 15 years of mortgage experience, Josh has had his hands on over $4 billion dollars of closed transactions. When you are in the market to purchase, refinance or construct, make your first call the Burruss Team at MVB Mortgage.

Recipe Corner

Fiery Fish Tacos with Crunchy Corn Salsa

Prep 30 m | Cook 10 m | Ready In 40 m

INGREDIENTS:

· 2 cups cooked corn kernels
· 1/2 cup diced red onion
· 1 cup peeled, diced jicama
· 1/2 cup diced red bell pepper
· 1 cup fresh cilantro leaves, chopped
· 1 lime, juiced and zested
· 2 tablespoons cayenne pepper
· 1 tablespoon ground black pepper
· 2 tablespoons salt, or to taste
· 6 (4 ounce) fillets tilapia
· 2 tablespoons olive oil
· 12 corn tortillas, warmed
· 2 tablespoons sour cream, or to taste

DIRECTIONS:

1. Preheat grill for high heat.
2. In a medium bowl, mix together corn, red onion, jicama, red bell pepper, and cilantro. Stir in lime juice and zest.
3. In a small bowl, combine cayenne pepper, ground black pepper, and salt.
4. Brush each fillet with olive oil, and sprinkle with spices to taste.
5. Arrange fillets on grill grate, and cook for 3 minutes per side. For each fiery fish taco, top two corn tortillas with fish, sour cream, and corn salsa.

Enjoy!

How Much Land do You Need to Build a House?

Record-low inventory of homes for sale is forcing some home buyers to build their own homes, but they still need think about where they will build. Buzzfeed recently tested ordinary people on their real estate knowledge with some surprising results. Do you know how to calculate how much land you will need for that dream house and how much a parcel of land will cost? How many square feet are in an acre? Does your real estate knowledge stack up to the Buzzfeed challenge? Here are some real estate tips to better your score on BuzzFeed’s Regular People Take a Real Estate Exam.

DO THE MATH
The National Association of Home Builders reports an average cost of $85,139 for a buildable lot. Now’s the time to bust out that handy calculator. The percentage or ratio of the size of the building to the land on which it resides is called the “land-to-building ratio.” To arrive at the land to building ratio, divide the square footage of the land parcel by the square footage of the building. Here’s an example: 188,000 land square feet/43,500 building square feet = 4.32, defined as a 4.32:1 land to building ratio.

BUYING LAND
There aren’t many rules as to how much land one should buy to build – it really depends on the size of your home. The median lot size of a new single-family detached home sold in 2016 was 8,562 square feet, or just under one-fifth of an acre. Don’t forget to talk with your builder about how much space you want for a backyard, front yard, garage and fencing when setting the property lines before the building starts and make sure to leave enough space for the home’s utility grid.

TINY HOUSE LOT
Even though the excitement for tiny homes continues to grow, most city zoning laws and building codes haven’t caught up to addressing the trend. The American Tiny House Association rounded up state regulations for most states or maybe you could petition your own city for tiny house-friendly zoning changes. The style of the tiny house – with wheels or on a foundation – will determine where the home can be located. If it’s on wheels – no problem. A tiny home on a foundation is a bit trickier. Most zoning and building regulations won’t allow you to buy land and build your tiny house on it. You’ll have to build an accessory dwelling unit (ADU), which means a secondary residential dwelling unit located on a single-family lot, often referred to as a carriage house, granny flat, mother-in-law suite or cottage.

Do you think you have what it takes to pass a real estate quiz? Test your knowledge with BuzzFeed’s Regular People Take a Real Estate Exam – visit https://www.buzzfeed.com/remax.