Northern Virginia Home Selling
Arlington Virginia June 2008 Housing Sales Statistics
July 9th, 2008 Categories: Arlington Dirt, Market Stats, Northern Virginia Home Buying, Northern Virginia Home Selling, Northern Virginia Real Estate Dirt
Hello – me again…
I’ve been running numbers and statistics for a few different publications I author for the past few days and I find the data very interesting. Here’s how the numbers stacked up for June sales in Arlington:
Doesn’t look remarkable one way or the other… compared with last month, inventory levels and “solds” are stable but contract writing is up significantly (except in the condo market where things are stable).
And here are the current absorption rates:
Pretty good – however, upon further inspection, looking at year-to-date, and year over year comparisons, this really gives us the picture. Here’s year-to-date 2007 to 2008 comparison for the condo market:
WOW – that’s a 42% decrease in unit sales – with average selling prices AND Days on Market remaining somewhat constant – odd…. Here’s what it looks like for single family:
Single family is not as gloomy, but still seeing a 29% decline in unit sales again, with average selling prices only experiencing a 4.3% decline and days on market virtually the same. Somehow out in the world it just doesn’t seem this way. I’m having a busy sales year (don’t get me wrong, I ALWAYS have time for a new client or two!), it does seem like homes are taking longer to sell - but perhaps in my mind it’s always a comparison with 2004 when things were nuts!
So, you might wonder, what’s happening to all of those homes that are “excess inventory?” Many are simply being withdrawn – those will choose another time to sell – if they can. The rental market is up almost 14% this year - so some are being rented rather than sold.
A lot to ponder - but if you are a buyer – there is a lot of inventory to choose from. However, please keep in mind that market conditions aren’t such that sellers just roll over – yes, they would like to sell their homes, but for fair prices with fair terms.
Should you like to discuss it further, I’m always happy to talk real estate!
Happy (gloomy) Wednesday!
Jennifer
Serving all of your real estate needs in Arlington, McLean and the entire Northern Virginia Region!
Contact me today for a free home valuation or buyer counseling session! Spring is HERE!
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What Can a SELLER do to help their Home Sell?
June 19th, 2008 Categories: Alexandria Dirt, Arlington Dirt, Falls Church Dirt, McLean Dirt, Northern Virginia Home Selling, Northern Virginia Real Estate Dirt, Real Estate 101, Reston Dirt
Let’s face it – what sells a home is the right person walking through the door at the right time. The process is a balance between a competent real estate agent and a client, in most cases. The agent comes to the table with a plan for how to cast the widest net to catch potential buyers. This might include hosting an open house, online advertising, etc…
However, there are definitely two sides to the partnership and if the seller doesn’t truly get their head in the game, you could find yourself with a lopsided partnership - even the best marketing can’t sell a house that really isn’t prepared properly to sell. So let’s examine what the home sellers can, and should, do!
FIRST – PRICE THE HOME TO SELL
I hear this a lot on listing appointments, “Jennifer, we think your pricing strategy is right on - but we’d like to start high in order to test the waters 
to see if we can get a better offer and also, we want to give ourselves some negotiating room.”
While I agree with the sentiment, buyers KNOW when a home is priced right and while there are some knuckleheads out there who may try a lowball offer, when you’ve hit the right price, easily justified, my experience is that sellers don’t need to be braced to have to give away the farm. The negotiation process can be quite even handed and civilized!
Pricing, in my opinion, is the #1 thing a seller can do to influence the reception in the market and to get their home sold quickly. There are certainly challenges, not every home is easy to price, not every buyer will be willing to pay extra for those special inlay hardwood floors, not every home has good comps. But with good homework and a meeting of the minds, GET THE HOME PRICED RIGHT out of the gate - you won’t regret it!
SECOND – PRESENT IT WELL
What does this mean? Well, first, any obvious repairs should be done – re-caulking old icky bathroom tile; perhaps a leak was fixed but the re-painting was never done? Carpets dirty? A good cleaning can do a world of good. (See my previous article on carpet cleaning) Look around through fresh eyes if possible. Remember, when your agent makes suggestions, take them seriously. Try not to have your feelings hurt when they suggest that you remove the 1980’s curtains to freshen and brighten everything up a bit. Appearances are everything and some buyers cannot look past some 
of those “personal touches.”
The clutter and anything excess (furniture, clothing, towels, sheets, food, etc…) should be removed – yes REMOVED. Do whatever it takes. If you need to get a storage unit and it costs you $250 but nets you $10,000 more on your home because it appears to have adequate space and storage – would you be upset? NO - so go to it. Clear it out, clean it out, purge, pack it up, etc…
The exterior should be well maintained – this includes the windows looking to the exterior – clean and sparkly! Lawns should be kept tidy, toys, tools, etc should be kept put away. Garages should be cleaned out and purged just as described above. If any decks or siding require power washing, rent a power washer - it’s easy - even I can do it!
And lastly, CLEAN CLEAN CLEAN. There’s nothing worse than thinking of how much cleaning a place would require before moving in. Bleach might just become your best friend! But it’s true, a neat, tidy, bright, clean house will sell 10 times before the same house without taking those steps to prepare.
I believe that pricing and preparation are 80% of the game. However, there are a few other things that sellers should keep in mind:
1. Be Available. Have your home as available as possible to be shown. This might not always be convenient - but hey, you’re trying to sell your home. Make it as easy as possible, especially as it relates to pets, alarms, children, etc…
2. Communication. Be sure that your agent is on the ball - returning phone calls from prospective buyer agents; returning phone calls to prospective buyers from signs or Internet ads. Be sure that YOU are communicating with your agent about showings and that THEY are communicating relevant feedback to you.
3. Remain Flexible. Flexible with showings, flexible with settlement dates, flexible with finding creative solutions to help your home be more attractive to an “almost fit” buyer. Be flexible and pro-active.
It’s not always easy being a home seller in this market. Most Arlington home sellers are doing ok – I hear once you get a little further out even to communities like Vienna and Reston, the sales are farther and fewer between. However, having your home ready to go ensures that when that buyer does come along, you’ll be the best looking property in their price range!
Good luck, and if you’re thinking of becoming a home seller, give me a call!
Happy Thursday
Jennifer
Serving all of your real estate needs in Arlington, McLean and the entire Northern Virginia Region!
Contact me today for a free home valuation or buyer counseling session! No time like the present!
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Is it Time to Buy? How ’bout NOW? Is NOW Finally Here?
May 16th, 2008 Categories: Alexandria Dirt, Arlington Dirt, Falls Church Dirt, McLean Dirt, Northern Virginia Home Buying, Northern Virginia Home Selling, Northern Virginia Real Estate Dirt, Northern Virginia Real Estate Finance, Reston Dirt
For the past few years, this has probably been the most asked question of 
every real estate professional across the US. With the media leading the charge, the news has been all gloom and doom with a few regional exceptions and, just like a run on the bank in days gone by, the public has largely bought into the concept that the sky is falling in.
Well, we’re still standing. Yes, we have a credit crisis of enormous proportion that will likely take years to recover from. But guess what… houses are selling! Prices are somewhat steady! There are plenty of happy buyers and sellers at least here in our region, that are actually experiencing pleasant transactions!
But here’s the greatest news of all. Finally, we’re getting some great reports from national media sources that perhaps the crisis is over! Yes, you heard me correctly, the headline of an article in The Wall Street Journal on May 6, 2008 reads, “The Housing Crisis Is Over.”
The article begins by reminding us that we’ve been on a downward trend for 3 years already – hard to believe, but I guess it was 2005 when we started to see buyers push back from rapidly rising prices. It goes on to look at certain economic indicators that have been present in past housing corrections and comparing that with our current outlook.
Bottom line is that perhaps the worst is behind us. Here in the Northern Virginia area we have been seeing more activity, relatively stable prices and buyers finally coming around to believing that they can now make a good investment. However, like everything, it’s a giant pendulum. Perhaps now is an EXCELLENT time to be either a buyer or seller while that pendulum is essentially hanging in an almost weightless state before swinging the other direction. Remember the days of multiple contract? Waiving home inspection? Waiving appraisal? Let’s do some business!
Happy Friday!
Jennifer
Serving all of your real estate needs in Arlington, McLean and the entire Northern Virginia Region!
Contact me today for a free home valuation or buyer counseling session! Spring is HERE!
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5 Important Characteristics of a Great Home Seller
May 10th, 2008 Categories: Alexandria Dirt, Arlington Dirt, Falls Church Dirt, McLean Dirt, Northern Virginia Home Selling, Northern Virginia Real Estate Dirt, Reston Dirt
Yep, that’s what I said, characteristics of a seller. There is definitely more to being a seller than someone who thinks they want to sell their home. There are characteristics that as an agent, I look for on any listing appointment – and if I sense that one or more of these characteristics are missing, I have to seriously evaluate MY ability to have a successful outcome.
A seller must be REALISTIC
Some say this is the agent’s job - and to some extent it is. But c’mon, nobody’s under a rock, at least I don’t think they are. The news media has gone crazy over diminishing values, foreclosures, etc… for a seller to actually think they can price their home 10% over the last sale is completely unrealistic. Yes, it is most definitely our job as agents to provide as much information on recent sales, length of time on the market, structure of deals (e.g., are there subsidies in that neighborhood? or do most of the buyers have money for closing costs?), etc… but the seller must be realistic about their expectations!
A seller must be OPEN MINDED
What does that mean exactly? Hard to define, but when we put a home on the market we can look in excruciating detail at other sales, comps, patterns, our marketing, etc… but until an offer comes in, you just never know what to expect. So I look for sellers who are open minded – sellers who understand that the market is what the market is - there’s nothing we can do to change it and that there may be benefits to taking a slightly lower offer, such as a quick settlement or fewer contingencies that can help a seller feel more confident about that sale actually happening.
A seller must be FLEXIBLE
Someone might put forth an offer or a tradeoff that hadn’t even crossed our minds before. We might sit on the market for weeks and weeks, at which point we begin looking at options – price drop vs. other alterations that may have been suggested by feedback. The market is often a moving target, and if the seller is flexible enough to react to new information, there is a better chance of a positive outcome.
A seller must be PREPARED
Prepared to accept a lower offer; prepared to take a lower net; prepared to make repairs; prepared to make other concessions (convey that chandelier or butcher block or front porch furniture) in order to make the transaction happen. Sometimes it’s just a matter of knowing how much something might cost. If you are trying to sell your home and you have a cobalt blue dining room, it might behoove you to get a quote from a painter to re-paint that room. This way, you, the seller, are prepared and armed with the knowledge of how much that exposure really is and is in a better position to make an informed decision.
A seller must be AVAILABLE
Yep, available. Imagine being a buyer and asking a few questions… as the listing agent, I am encouraged that someone is taking the time to ask and alas, I cannot find my seller. They won’t return calls, emails or texts… what gives? We could easily lose that interested buyer because they are now making assumptions on how the entire transaction experience might be. When there are plenty of other properties to buy, it is imperative that sellers are available to answer questions, respond to offers, etc…
Now, having said all of this, please understand that I’m in no way suggesting that sellers need be raked over the coals. It may be a market that favors the buyer, but it’s in no way a solid buyer’s market, at least inside the beltway and in other close in locations. However, it is important to each side conduct itself with the seriousness and dedication that this process deserves.
I’d be delighted to talk with you about the sale of your property – or if you’re thinking of buying, we can handle that, too!
Happy Saturday and be thankful for this oh so brief reprieve from the rain!
Jennifer
Serving all of your real estate needs in Arlington, McLean and the entire Northern Virginia Region!
Contact me today for a free home valuation or buyer counseling session! Spring is HERE!
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Let’s Talk Dirty…
April 1st, 2008 Categories: Alexandria Dirt, Falls Church Dirt, McLean Dirt, Northern Virginia Home Selling, Northern Virginia Real Estate Dirt, Reston Dirt
Dirty carpets, that is! (GOTCHA)
Last week as I was getting a listing prepared for marketing, I was thinking about how much can be done to really make a new listing sparkle – one of the MOST important things you can do is carpet cleaning.
Most people never consider having their carpets cleaned until it’s time to sell their home unless they have some sort of problem – e.g., leak in the basement, major spill, etc… But I would like to suggest that you become a lot better acquainted with your carpet cleaner.
I happen to use a local carpet cleaner by the name of Ayoub Carpet Service – ACS for short. They can handle many issues aside from the obvious (carpet cleaning) but in my opinion, carpet cleaning is something homeowners should do every few years whether you *think* your carpet needs it or not. You’d be amazed how much dirt comes through your vents, your clothing, your feet, your kids, your pets, your cooking, etc… It can also extend the life of your carpet.
They bring a lot of stuff with them - here’s a nice view of all the different potions and solutions they bring. I wish I’d had one of those bottles last week when my son exploded a roller ball pen on the white carpet of his closet! UGH In any event – you should have seen the magic inside one or more of these little bottles!
At the end, the place looks FABULOUS!! I highly encourage you to look at your carpets objectively and then give ACS a call – they’re great to work with – very professional, reasonable rates, accommodating, etc.. Can’t say enough great things about them.
When you begin thinking about putting your home on the market, give me a call – I can go over all of the things we can do to make it sparkle! I can even manage the process for you – part of the great service I offer my sellers.
Happy Tuesday!
Jennifer Klaussen
Serving all of your real estate needs in Arlington, McLean and the entire Northern Virginia Region!
Contact me today for a free home valuation or buyer counseling session! Spring is right around the corner!
| Discussion: 3 Comments »
10 Things to Look for when Choosing YOUR Next Real Estate Professional
March 25th, 2008 Categories: Alexandria Dirt, Arlington Dirt, Falls Church Dirt, First Time Buyers Club, McLean Dirt, Northern Virginia Home Buying, Northern Virginia Home Selling, Northern Virginia Real Estate Dirt, Reston Dirt
Choosing who will represent you on the purchase or sale of your home (or investment property) is a big deal! It’s probably 
one of the single largest purchases or sales you will make in your entire life and unless you’re a big investor, probably something you will only do a handful of times in your life. So when the time comes for your to choose that special person that will guide you through this process, it’s important to look for the qualities that are most important to YOU.
I started out thinking I would do a “Top 10 List” of sorts, a la David Letterman. But I quickly realized that the list will be different for everybody! What’s important to you may not be as important to your co-worker, stock broker or college roommate who has recommended an agent to you. Don’t get me wrong, a personal referral is an excellent source, but make sure they are the right person for YOU and your needs.
Here is MY list of what I would look for in a real estate professional (and remember they are in NO particular order - just train of thought):
1. Experience - While I don’t feel it’s necessary to have 30 years in the business (can’t hurt though) I think it’s best to have an agent with a proven track record of success – if they are less experienced, ask how they intend to best represent your interests - what is their plan? And this brings me to #2…
2. Resources - what types of resources do they have available to them? Are they being mentored? Do they have a broker that will assist them? Do they have other resources to lean on in busy times? Perhaps they are part of a team? How will that work? As long as it works for YOU, there is no wrong answer here.
3. Ethics - This is a biggie – and no real way to ask someone how ethical they are – as Realtors, we are required to abide by our Code of Ethics. It’s much more stringent than our local licensing bureau requires – so always be sure you are represented by a real estate professional who proudly understands and abides by the Code.
4. Education – How has your prospective agent kept up with the industry? Have they earned any of the recognized designations? For example, I have earned the GRI designation – I am a Graduate of the Realtor Institute. It took me a year to earn it – I went to classes once a month for an entire day in subjects like Ethics, Agency Law, Real Estate Finance, etc… I attend Continuing Education courses all the time to stay on top of the changes in my industry… ask a few questions as it relates to Education!
5. Market Knowledge – Look, we can’t all be perfect and we can’t know every statistic for every condo building, neighborhood, townhouse complex, etc… in EVERY city, town, nook, cranny that we service – but we CAN have a knowledge of where the market is, where it’s been, where it’s headed. We can understand some basic economic forces that drive it – some basic economic indicators that could give us a clue where things are headed?
6. Online Savvy – I think this one is HUGE. The world is online - if you’re reading this now, you’re reading a blog. Some don’t even know what a blog is – but whether your agent is representing you as a buyer or a seller, it’s important for them to understand how to market online, how to reach potential buyers ONLINE and frankly, how to communicate with YOU. It’s a different world now than it was even 10 years ago. Be sure your agent has kept up with the times!
7. Communication – Another biggie! And something that will mean something different to different individuals. Find out how your agent intends to communicate with you – and how often. If you need updates once a week or once a day, make sure your agent understands your needs and can accommodate them. Do you prefer email? Or a true voice-to-voice conversation? It’s important to understand? Or what about text messaging?
8. Empathy – This is a tough process. While it’s a business for us as agents, you are real people, with real emotions involved in a potentially stressful situation. It’s nice if your agent can be empathetic.
9. Area Knowledge – How familiar is your agent with the area your home is in if you’re a seller or the area you’re looking if you’re a buyer. As I said earlier, nobody can be a neighborhood EXPERT in every neighborhood, and I don’t believe your agent must be an expert in that neighborhood to provide excellent representation, but they must be willing to learn – to familiarize themselves with your immediate area, market trends, schools, demographics, other listings, etc… the list goes on. (ps I’m a local! 
)
10. And last but certainly not least, I believe a Sense of Humor is vital. It all gets a little serious, and it is. But it can be fun, enjoyable and you can make a new friend along the way.
Remember, these are unique individuals and you’re trying to find the best match possible. Trust your referrals, your references, your research; but in the end, trust your gut… oh, and give me a call!
Have a wonderful Tuesday!
Jennifer
Serving all of your real estate needs in Arlington, McLean and the entire Northern Virginia Region!
Contact me today for a free home valuation or buyer counseling session! Spring is right around the corner!
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A HUGE Win for Virginia Sellers
March 4th, 2008 Categories: Alexandria Dirt, Arlington Dirt, Falls Church Dirt, Local News, McLean Dirt, Northern Virginia Home Selling, Northern Virginia Real Estate Dirt, Reston Dirt
As many of you know, whether you’re a seller or just “in the know” last year the Authority was granted to the Virginia Transportation Authority to impose an additional $4/$1000 to the Virginia Grantor’s Tax. This was a 400% increase over our previous tax of $1/$1000 bringing the new total tax to $5/$1000… HUGE difference to a seller!
Well, as we suspected (and as I’ve previously written about), it was ruled by the Virginia Supreme Court to be unconstitutional to enable a non-elected body to impose taxes. What does this mean? It’s unclear. One thing that IS clear is that they will have to come up with another way to pay for the road improvements here in Northern Virginia as well as in the Hampton Roads area, which is the other locality affected by this tax. The second thing that’s crystal clear is that they will have to figure out some way to refund those who have already paid this tax since January 1, 2008.
Meanwhile, I suspect they’ll go back to the drawing board - whether it means gas taxes, increased local taxes, bond money, etc… we need the money from somewhere to relieve congestion – I’m glad this time it won’t be paid for by those selling their homes!
If you have any questions about this, and/or if you were a seller who paid these higher taxes from January 1, 2008 through the present, please contact your settlement agent about what the refund process might look like, how long it might take, etc… then, REJOICE!
Happy Tuesday!
Jennifer
Serving all of your real estate needs in Arlington, McLean and the entire Northern Virginia Region!
Contact me today for a free home valuation or buyer counseling session! The Time is NOW!
| Discussion: 2 Comments »
Homeowners Insurance - the Ins and Outs
January 28th, 2008 Categories: Alexandria Dirt, Arlington Dirt, Falls Church Dirt, First Time Buyers Club, McLean Dirt, Northern Virginia Home Buying, Northern Virginia Home Selling, Northern Virginia Real Estate Dirt, Real Estate 101, Reston Dirt
One of the necessary things to plan for when making a real estate purchase is insurance. But what do you need? Well, I’m not an insurance agent (read: insurance expert), but I can tell you from a property ownership perspective the minimums that you should have… read on.
Condominium Insurance Needs
When purchasing a condominium, the association carries a master insurance policy on the entire building structure. This is one of the costs that your condo fee covers. However, you’re not off the hook. You should have insurance to cover your personal belongings, as well as personal liability, so if anyone ever injures themselves on your property, you’re covered.
Single Family and Townhome Insurance Needs
When purchasing any other type of property with fee simple ownership (when you own the ground and air above – exterior walls, fireplaces, roofs, etc…) then you need a full featured home-owners policy, sometimes called a hazard policy, covering the structure, contents, liability, etc. There are specialty riders as well. For example, here in Northern Virginia, we don’t worry too much about earthquake policies and not too many properties are affected by the 100 year flood plain (although there are some) and require special flood insurance.
What to do?
One of your first jobs once you have a ratified contract will be to contact an insurance agent or two, get quotes and make application for insurance.
You’ll need to know such things as:
Wiring type
age of roof
# of layers on the roof (sometimes a new layer of shingles is nailed right onto the old layer)
distance to nearest fire hydrant
etc…
They will also run a C.L.U.E. report. The C.L.U.E. report (Comprehensive Loss Underwriting Exchange) will provide a 5 year history of losses associated with an individual and his/her property.
The home insurance policy will be paid for in full for the first year at the settlement table. Your lender will then begin to escrow 1/12 of your annual policy amount so that the beginning of year 2, they will have collected enough money from you to cover the premium that will come due at that point. IF for some reason you don’t go to settlement - say the contract gets voided because of an inspection item, or an appraisal issue – you’re not on the hook at all — after all, no service has been rendered. You simply call the insurance company and tell them the deal isn’t going through. They can sit tight until the next time!
Additionally, something many don’t realize, if you move to your new residence and have to leave a property vacant, communicating that to your insurance agent is very important. Since it’s obviously vacant, you won’t need to continue to insure the contents, but you will need to carry at a minimum a basic fire policy AND a comprehensive liability policy.
The key to good insurance is communicating with your agent. There are many great insurance companies out there - find one you’re comfortable with that offers competitive rates and you should be set. As always, if you want to talk further, don’t hesitate to give me a call or email.
Happy Monday!
Jennifer
Serving all of your real estate needs in Arlington, McLean and the entire Northern Virginia Region!
Contact me today for a free home valuation! Spring is right around the corner!
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Keller Who?
January 25th, 2008 Categories: Alexandria Dirt, Arlington Dirt, McLean Dirt, Northern Virginia Home Buying, Northern Virginia Home Selling, Northern Virginia News, Northern Virginia Real Estate Dirt, Reston Dirt
Keller Williams – the BEST real estate company in the world, just my humble opinion. Many people in the DC area are not familiar with Keller Williams - so let me introduce you.
Gary Keller and Joe Williams began Keller Williams in Austin Texas in 1983 – yes, 1983. Today, Keller Williams is the 4th Largest residential real estate franchise in the country with nearly 75,000 agents worldwide with a sales volume of over $94 BILLION dollars.
Keller Williams encourages agents to see their business AS A BUSINESS - not a job. We are uniquely innovative in our approach! There are many systems and programs in place to help the agents become successful business people, thus raising the standards that we can provide to our clients. We’re committed to education, training, and quality of life. Never before have I felt my real estate brokerage was so vested in my personal success as I do now.
I am so very proud to be a part of this organization! So the next time you think real estate, think Jennifer Klaussen – I bring the knowledge, expertise and personality to the table to ensure that you have a successful transaction. I happen to have a great brokerage firm behind me and that means a lot!
Happy Friday!
Jennifer Klaussen, Keller Williams Arlington
Proudly serving all of your real estate needs in Arlington, McLean and the entire Northern Virginia Region!
Contact me today for a free home valuation or buyer consultation! Spring is right around the corner and I have all of the tools to help you buy and sell successfully in this market!
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New Year - New Tax - Well, maybe…
January 2nd, 2008 Categories: Alexandria Dirt, Arlington Dirt, Falls Church Dirt, McLean Dirt, Northern Virginia Home Selling, Northern Virginia Real Estate Dirt, Reston Dirt
Happy New Year! I wish all of you a tremendously successful, prosperous, healthy and happy 2008!!!
A little history: As many of you know, the Virginia General Assembly last year granted 2 Transportation Authorities in Virginia the right to impose a 
special new tax to help relieve traffic congestion. One here in Northern Virginia and the other in the Tidewater Region. It’s an addition to the Virginia Grantor’s Tax that has always been collected. The kicker is that this new tax represents a 500% increase over what a seller would have paid had they settled in 2007.
What does this mean? For example, when selling a $500,000 property in 2007 (or years prior) the Grantor’s Tax collected at settlement would have been $1/$1000, or $500. However, The Virginia Transportation Authority in 2007 decided that an increase would take place of an additional $4/$1000 bringing the total now to $5/$1000 or a whopping $2,500.
So many sellers were trying to get deals done at the last moment in 2007 to save this tax increase. What many don’t know is that there is a group in Virginia who feel that it is unconstitutional to grant a non-elected body the right to impose a tax – so the case is being brought before the Virginia Supreme Court next week and it’s trying to be overturned.
Now who really knows what will happen… The Tidewater Transportation Authority has decided to delay the collection of this tax increase saving themselves an accounting nightmare if the Supreme Court in fact rules that this body cannot impose the tax. Here in Northern Virginia, they are moving forward with the collection of this new tax. As it stands, many in the know say this is not likely to be overturned and we should just get over it and live with this expected increased tax. At least it wasn’t the increase of $9/$1000 that they originally proposed!!! Whew…
What do I think? I think we have to wait and see. If you’re a seller - you just have to figure it into your costs and move forward with your transaction if you’re fortunate enough to get a good contract. If you’re a buyer - it has no impact on you whatsoever.
I’ll certainly keep my readers informed as to the direction the supreme court rules and what we can expect as an impact. Meanwhile, let’s start talking about buying and selling. No time like the present!
Happy Wednesday!
| Discussion: 3 Comments »
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