Last One Out of New Jersey, Turn Out the Lights

Low Taxes, Business Friendly, and a Great Place to Live!

New Jersey has just elected a new Governor. A lower tax, smaller government, pro free enterprise Republican.  In such a blue blue state there must be a reason people have made Chris Christie their new Governor. One reason could be that property tax in New Jersey is among the highest in the nation. That also may be the reason that I have sold 3 homes in the last year or two to fine people from New Jersey.

Our own Shenandoah Valley is a great place to live and work and when I tell folks from “up north” the rate for our taxes, they think I’m lying.  One lady said, “you must have slipped a decimal or something”.

There are many natural reasons to move to our area but the low cost of living here compared to a state like New Jersey can’t be overstated. Fugit about it!

Barry Suttles – Realtor

540-246-5666 anytime mobile

Kline May Realty

Harrisonburg, Virginia 22801

Licensed in the Commonwealth of Virginia

Retail Space Near JMU – Opportunity

Students Spend a Lot of Money

Who has all of the money these days?  The answer… students.  Mom and Dad has been good to them for 18 + years and now they are sending them to “the poor man’s Ivy League school” JMU with credit cards and a nice allowances. The highly ranked James Madison University has around 18000 students and they infuse lots of money into the Harrisonburg Virginia economy.  Here’s your chance to have them spend their money in your shop or restaurant.

The Shops @ University

• 1000 feet and up
• 16000 Traffic Count
• $16.50 / sq ft + $3.00 /sq ft CAM
• Space includes concrete floors, HVAC hookup, suspended ceiling, drywall, plumbing rough-in 

Harrisonburg is a great place to live and a great place to do business.  If you need more information, call me.

Brochure

Barry Suttles – Realtor

http://www.BestValleyHomes.com

540-246-5666 mobile anytime

When the Investors Return To The Market.. Is it Safe for the Rest of Us?

Watch The Investors -

A common axiom bandied around the Realtor community is when the investors come back and begin buying, everyone else will follow suit.  Well, if for the sake of argument we assume that axiom to be correct, then it may be time for you to buy.  I am personally working with several residential investors who are looking at properties to buy. They say the market for investment properties continues to get better.  My buyers are not the “buy, fix and flip kind of investors”, but people who know that we have probably reached the bottom of the price erosion cycle and they are looking for opportunities for positive cash-flow and upside return.

If you have been sitting on the sidelines and worrying that you may pay too much for property in Harrisonburg or Rockingham County, you may want to begin the search.

When you do, call a professional real estate agent who will put your interest first.  Call me and let’s get started.

Barry Suttles – Realtor

540-246-5666 anytime mobile

Kline May Realty

Harrisonburg, Virginia 22801

Licensed in the Commonwealth of Virginia

Sale, Sale, Sale, Two Million Dollar Price Reduction

An Incredible Deal?

In this Brave New World of real estate deals how can you pass up  a property that was reduced by more than 2 million dollars? 

If you are like me, you are wondering how this could be so.  Well it is economics my friend.  When there is a bumper crop of oranges produced but no one wants them, the price of oranges will have to go down until you find a price that makes buying oranges attractive again.  This “orange” was appraised only a few short months ago at over 4 million dollars.  Right now, a prime, development ready piece of property, near Harrisonburg Virginia, and near a thriving Wall Mart, and near another small Virginia town that has eyes on annexing it, is going for a bargian basement price.

Other Important Information

This property is 80 acres that lays great. The best use of this property would be to rezone to mixed use residential-single family, duplexes, town houses. It lies right off Rt. 42 with regional sewer also available. 5.9 acres in city, zoned R1 with 400′ frontage on Pear Street. 74 acres +/- in county, zoned A2.

Want More

This property is being offered exclusively by Kline May Realty and I can get you started  towards purchasing this property and creating the next successful housing development.  

Barry Suttles – Realtor

Kline May Realty

540-246-5666

How Do I Choose a Realtor or a Real Estate Company?

All Real Estate Companies are not Created Equal

What is your ultimate goal?

So you have decided to sell your home or property, what is your next step?   Well you first need to make sure to identify your end goal.  You say your goal is to sell your house, right?  Or you say your goal is to sell your house with the best terms, right?  Well maybe….. but not exactly.

Your goals should be:

1.       You want to sell your house quickly so that you have access to the equity.  Study the time value of money. 

2.       You want to sell it for the most money possible.  Think about “what the market will bear” or “wringing every last dollar” out of your transaction.

3.       You want to have your home exposed to as many people or potential buyers as possible.  This will help facilitate the first two goals.  The more people who have access to your home the more likely you will find that perfect buyer and you won’t need to settle for whoever comes along.  

4.       The best deal is a done deal where the drama involved was ZERO.

Choosing a Realtor – An Aggressive Advocate or a Best Friend

When choosing a Realtor, it is important to know what you want.  Is it important to you that you get someone knowledgeable who knows the market and has experience?  If you answered yes, then you want a full-time real estate agent who doesn’t just “dabble” in real estate as a sideline to another career.  You should interview Realtors like you were interviewing prospective employees for a job.  Imagine you are hiring a person to look after several hundred thousand dollars of your money because you are. 

Many people make the mistake of choosing a family friend or a person they know is a Realtor. Personally, if I were looking for an attorney to represent me, I would always choose the best one I could afford and I would hire the best person for the job.  Remember, you are hiring a professional to represent you in a transaction where hundreds of thousands of dollars are changing hands.  A Realtor is your agent, and he or she should be acting in your best interest by the very definition of the Agency relationship. Choosing a family friend may be OK, but sometimes this creates issues. Money, business, and friendship often create tensions for some.  When I am hired to do a job, I aggressively represent my clients and seek their best financial interests at all times.

Choosing a Real Estate Company – Size Matters

There are all types and sizes of real estate companies out there, so how do you choose the best one?  Do you recall the 3 goals?  You should choose a company who can help you reach those goals.  For instance a small “mom and pop” operation may be nice to you, but again we’re talking about a whole lot of money here.  A larger company has advantages.  Marketing is the key to receiving the most money for your property.  Larger companies have more resources and often have an internal marketing advantage within its walls.  With many agents, it is very likely that your home will be sold by one of those agents due to size and an economy of scale advantage.   Also many larger companies have an internal marketing and IT staff and in this technology weighted economy that is very important.

Marketing Tools – Technology is King

Any successful product you can name has a marketing plan behind it.  Putting a sign in your front yard and introducing your home into the local MLS is a poor marketing plan, but that is what you’ll get from many Realtors today.  Recent studies have shown that it takes multiple exposures before a person decides to purchase.  My company uses many innovative ways to get your home exposed to many potential buyers.  See goal 3.   

Wrap Up

I think you’ll agree that if you take the time to choose wisely it can save you a lot of money in the long run.

Barry Suttles – Realtor

New Homes Group Manager

540-246-5666 mobile

540-437-3671 office direct

540-437-3500 Kline May  Realty

Barry@providencevalley.com

Yes Virginia, There is a Harrisonburg!

Retirement at its Best 

Even as I write this, I realize that there are people out there looking for a great place to live and enjoy their golden years.  Many say that that is the last thing you need to be thinking about during a downturn like the one we are currently experiencing, is real estate.  Poppycock!

If you would have bought a retirement home 3 years ago in many places across the country, you would have bought at the top of the market and then subsequently watched in horror as the value of your retirement home lost 20% or more.  Well, in Harrisonburg Virginia even the people who bought at the top have weathered this storm quite nicely with prices declining 3 to 5 percent.

Harrisonburg is a great place for retirement.  The current national statistics say we are still in a slumping market but be careful when you read these.  Real estate, like politics, is local. The Harrisonburg area has had very little decline in real estate prices during this national crisis.

Live Where Others Pay to Visit Every Year

Here are just a few reasons to consider retiring in Harrisonburg Virginia.

• The Shenandoah Valley is beautiful, and every year thousands of people from all over the globe come to enjoy this gift of nature.
• Many great schools - Eastern Mennonite University, James Madison University, Bridgewater College. Every year thousands of students come to study in Harrisonburg and the surrounding area and many never go back home after graduation.
• Culture – only 2 hours from Washington DC and other great cultural hot spots
• Strong Local Economy
• Retirement communities like Virginia Mennonite Retirement Community, and Bridgewater Retirement are great places.
• Recreation – I could write a book on this. People who live here know that you don’t ever have to be board. There is so much to do and see you will always be busy…..if you want to be.

Call me if you are considering a move to Harrisonburg.  Better yet, let me know when you are going to be here and we can have a cup of coffee and I can help you get started finding your next home!

Barry Suttles – Realtor

540-246-5666 mobile anytime

540-246-5666 mobile anytime

Harrisonburg Schools – Redistricting

Mom….what school do I go to now? 

Many local people have children in the public schools. And you are probably wondering how the redistricting affects you, and where your son or daughter will go to school.  Well, we here at providencevalley.com want to be of help anytime we can.  So here is a link that may help you and I have some pdf files outlining the maps and school district locations for you to download too if you would like them.

$8000 Housing Credit Explained

Taken from a report by the National Association of Realtors.  

Bringing the Dream of Homeownership Within Reach

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home buyers.

Here is more information about how the 2009 First-Time Home Buyer Tax Credit can help prospective home buyers become part of the American dream.

Register for Sept. 3rd  Research First-Time Home Buyer Tax Credit webinar (Aug. 24)

Who Qualifies?

First-time home buyers who purchase homes between January 1, 2009 and December 1, 2009.

To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

Which Properties Are Eligible?

The 2009 First-Time Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Will the Credit Be?

The maximum allowable credit for home buyers is $8,000. Each home buyer’s tax credit is determined by two factors:

The price of the home—the credit is equal to 10% of the purchase price of the home, up to $8,000.

The buyer’s income—single buyers with incomes up to $75,000 and married couples with incomes up to $150,000—may receive the maximum tax credit.

If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?

Yes, some buyers may still be eligible for the credit.

The credit decreases for buyers who earn between $75,000 and $95,000 for single buyers and between $150,000 and $170,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $95,000 for singles and over $170,000 for couples are not eligible for the credit.

Will the Tax Credit Need to Be Repaid?

No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during the three-year period, the credit will be recouped on the sale.

If you are ready to buy your first home in Harrisonburg or the surrounduing area, call me at 540-246-5666.  Time is running out on this tax credit and there is some doubt that it will be extended.

Barry Suttles – Realtor

Help for You When You Are Buying a Home in Harrisonburg Virginia

Buying a home is more than finding a house

After you have decided to look for a first home or a replacement home it is important to put a game plan in place.  From the Realtor you choose, to the person who will do a home inspection, to the person who will find you a suitable mortgage, there are many ancillary people and services you will need.  You want to make sure that this most important purchase is indeed a sound one.

Significant People and Services That Can Help

·         Realtor

·         Mortgage

·         CPA or financial advisor – optional

·         Surveyor

·         Title Company or attorney

·         Pest Inspector

·         Structural Engineer

·         Others  when needed

Realtor

When choosing a Realtor, it is important to know what you want.  Is it important to you that you get someone knowledgeable who knows the market and has experience?  If you answered yes, then you want a fulltime real estate agent who doesn’t just “dabble” in real estate or as a sideline to another career.  You should interview Realtors like you were interviewing prospective employees for a job.  Imagine you were hiring a person to look after several hundred thousand dollars of your money… you are. 

Mortgage

Stay away from the mortgage broker, mortgage brokers, work as middlemen with banks/lenders and borrowers on the wholesale end to secure financing for you. They usually will cost you more.  I would always choose local banks or large mortgage companies like Wells Fargo.  Still it always pays to shop around.

Surveyor

You’ll need the services of a surveyor if there has not been a recent survey of the property.

Title Company

The title company is another service that you can shop for best price. The Title company will close the deal for you and they vary greatly in pricing. But always remember, you get what you pay for!

Pest Inspection

In Virginia, it is the law that sellers of improved real estate supply the purchaser with a clean bill of health regarding the presence, past or present, of wood damaging insects.  Many do other services like water and septic inspections.

Structural Engineer

You may need this service if there are foundation problems or other structural problems.

Wrap Up

As always, if you utilize the services of a well qualified Realtor, he or she will be able to guide through this maze.

Barry Suttles – Realtor

540-246-5666 mobile

Barry@providencevalley.com

Recipe For Success When Buying a Home

Assemble all of the ingredients

Whether you are cooking in the kitchen, or preparing to buy a home, you need to assemble the proper ingredients.

• Check your credit – call your bank or a mortgage professional, they can help you
• If your credit is good, set up an appointment to meet and discuss your mortgage needs
• Once you have an idea of the amount of money you can spend on a home, call a reputable Realtor and set an appointment with him/her and let them know what is important to you

Now you have all of the ingredients for a successful home search and a subsequent purchase.

Mix and allow to work

You have now assembled a team of professionals to work for you.  It is now time to allow them to use their tools and expertise to your advantage.  That does not mean that you sit back and wait for a home to fall in you lap. But now that you have these highly motivated individuals in place you can begin the search for that perfect home.

It is important that the Realtor you choose knows exactly what you want in your next home. Set up a folder that you take with you on every trip with your agent.  In the folder you will have a checklist that you will create that will list all of the important factors of your next home.  You’ll need to include items like:

• Neighborhood – (close to parks, close to shopping, close to work, etc.)
• Number of beds and baths
• Number of square feet needed
• Garage, parking, public transit etc.
• other important items

On the checklist keep track of each house you visit and take copious notes. These notes will be helpful if you have several houses that are in the running to be “your house”.  Use them after your visits to refresh your memory of the house later.  A good agent will want you to see as many houses as you need to make an informed decision.  If you get pressure from an agent to make a quick decision, run away as fast as you can.

Best served cool

Markets are different and knowing “the temperature” of your market will help you.  In a market where there is stiff competition between sellers you will have a better chance of getting a great deal.  This is where having a knowlegable and passionate agent working for you will be worth a lot when the negotiation for your new home begins.  Although you may begin to have an emotional attachment to a home you are considering, it is good to know that your agent is experienced with making offers and will assist you in preparing an attractive one.  Always remember, if you have asked an agent to assist you in purchasing a home, the agent works for you. You are her client and you can fire them if they are not working with your best interest in mind.

 Enjoy

Now that you have made a successful offer, closed the deal, and are living in your new home…..it is time to enjoy.

Call Barry Suttles – Realtor

540-437-3671

when you need an experienced real estate agent.