Northern Virginia Real Estate Podcast with The Gillies Team

Did You Know Our Library Offered These Resources and Events?

Info@GilliesTeam.com (Cindy Gillies) — Thu, 3 Jan 2019 08:47:00 -0800

Today I’ll fill you in on four fun activities that can be found through the Porter branch of our local library system.

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As we head deeper into winter, I know a lot of us (especially those with kids) are looking for fun, engaging activities to do that don’t involve a TV screen or iPad. Well today, I’m here at the Porter branch of our local library, and as it turns out, this library has four exciting activities to get involved with.

Interactive storytime for toddlers. This is a fun way to introduce kids to books, from the simplest things like how to hold a book and turn the pages to engaging with them through puppets and songs. It’s a perfect excuse to get your younger kids out of the house and socialize. What’s more is that it’s held indoors, so you don’t have to worry about the freezing cold.
Summer reading programs. This program allows older kids access to a library account where they can log on and earn points for doing community activities, reading books, and more. By earning points, they’re entered into a raffle for prizes like movie tickets and other exciting things. The program is educational, yet it provides some incentive for kids to get involved, as well.
Workshops for school-age children. Held throughout the year, these workshops focus on many things, including nature, science, engineering, technology, math, and more.
Great events for adults. Not all the library’s programs are for kids—there are events for adults, as well, including things like craft nights, knitters clubs, quilting, and there’s even an event held at a winery, which centers around a book club.

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There are lots of great things to get involved with at the library, but not everyone knows about the services they provide in addition to the events they host.

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There are lots of great things to get involved with at the library, but not everyone knows about the services they provide in addition to the events they host. Here are four more resources that our library offers that you might not have heard of:

The librarians will help pick books for your kids to read. Sometimes it can be hard to know exactly what your child should be reading; you want to challenge them, but you also don’t want the book to be so difficult that they get frustrated and give up. Even help from teachers doesn’t always do the trick. Well, the librarians here at the Porter branch will help you pick books that are appropriate for your child based on the reading level that their teacher has assigned to them. It’s a cool way to use local resources to help your kids read at their level.
The librarians will help you pull all the books you need. For teachers, there is something called ‘classroom carry-out.’ Let’s say that you’re teaching a unit on China, for example, and you’re looking for books that supplement that topic at a certain reading level—the librarians will help you pull those books and have them ready for you when you need them.
There are no late fees for kids and those with teacher cards. Don’t let your fear of late fees and fines scare you away from the library; those with teacher cards or kids cards can get their fees waived!
The librarians can find and have books from other branches sent to your local branch. If there’s a book that you just can’t find at your local branch, talk to the librarians about it. They can pull books from anywhere within their system and bring it to your local branch. They’ll also alert you when that book is ready for pickup.

Library Events & Resources:

Library Events – Here’s what’s happening! https://www.librarypoint.org/location/porter-branch-events/ Interlibrary Loans – Can’t find what you’re looking for? https://www.librarypoint.org/cant-find-it/ Teacher’s Place – Incredible resources for teachers and classrooms. https://www.librarypoint.org/teachers-place/ Local History – From Civil War to Genealogy. https://www.librarypoint.org/local-history/ STEM Workshops – Hands-on activities through a partnership with the University of Mary Washington! https://www.librarypoint.org/makerlabs/

As you can see, libraries are wonderful places for both fun events and useful services, even though they often go unnoticed by a lot of people. I hope this blog helped open your eyes to the many benefits you stand to gain by becoming involved with your local branch. If you have any questions for me, you’re always encouraged to reach out to us. We’d be happy to help you with professional advice about real estate and guidance about resources in the community that you should be taking advantage of.

Merry Christmas and Happy New Year!

Info@GilliesTeam.com (Cindy Gillies) — Wed, 19 Dec 2018 09:31:00 -0800

It truly brings us joy to help you make your real estate dreams a reality. Thank you for working with us. We wouldn’t be where we are today without your help.

Looking to buy in the Stafford/Fredericksburg area? Perform a full home search

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We’re in the midst of the busy holiday season so I want to take a quick second to wish all of you a Very Merry Christmas and Happy Holidays. So many of the memories we hold dear happen this time of year and many of them happen in the home. Reflecting on the work we do every day, it warms our hearts to know that we had a small part in the making of these cherished memories. We are so thankful for all of you and the trust you place in us. 2019 is going to be an exciting year but don’t forget to take a little time between now and the new year to slow down and enjoy the ride. Merry Christmas & Happy New Year!

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We wish you a Merry Christmas and Happy New Year!

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Is Our Housing Market Shifting?

Info@GilliesTeam.com (Cindy Gillies) — Mon, 3 Dec 2018 12:22:00 -0800

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Real estate, much like the stock market, can change dramatically within just a few years. Over the last 24 months in Stafford County, we’ve seen huge increases in home values as well as major swings in inventory. This has led many people to wonder if our housing market is shifting. I recently wrote an article that goes into detail about the current market and whether I believe that we’re seeing a shift. To read it in its entirety, follow this link.

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Market conditions can vary widely depending on your exact location.

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If you have any questions or would like more information on the real estate market, feel free to give me a call or send me an email. I look forward to hearing from you soon.

A Thanksgiving Message and a Tour of Park Ridge

Info@GilliesTeam.com (Cindy Gillies) — Fri, 16 Nov 2018 10:32:00 -0800

We recently hosted a great client appreciation event, and we want to thank all of our friends, vendors, and past clients who attended.

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Today, there are a couple of messages we’d like to share with you all. First, we want to wish you a happy Thanksgiving. There’s something about this holiday that gives it a special place in my heart. There’s no better feeling than gathering with loved ones to enjoy great food and great conversation. Thanksgiving is also a great time during which to reflect on the things we’re thankful for. And here at the Gillies Team, we’re thankful for you. We wouldn’t be where we are today without you. Moving on, we would also like to let you know about the launch of our new neighborhood spotlight series, which we’re kicking off today with a look at Park Ridge. There’s something for everyone in this neighborhood, including townhomes, as well as single-family and multi-family properties.

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There’s something for everyone in Park Ridge.

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Located right in the middle of North Stafford, just a few minutes off of I-95, Park Ridge offers convenient proximity to neighboring areas, but also has many amenities and resources of its own. One of the main reasons Park Ridge is so popular, though, is the fact that there are over 1,200 homes within it. 80 homes have sold in the past 12 months in this neighborhood, which just goes to show how active the market here is. If you or someone you know is interested in learning more about this neighborhood, please reach out. My team would love to help in any way we can. Speaking of which, if you happen to be without plans on Thanksgiving and are looking for someone to spend it with, there’s always room at my table. I can’t tell you how many years I’ve been blessed to have someone turn up to celebrate with my loved ones and me. We’d be glad to have you. If you have any other questions or would like more information on what's happening in a different neighborhood, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Thank You For Helping Us Celebrate

Info@GilliesTeam.com (Cindy Gillies) — Mon, 29 Oct 2018 13:44:00 -0700

We recently hosted a great client appreciation event, and we want to thank all of our friends, vendors, and past clients who attended.

Looking to buy in the Stafford/Fredericksburg area? Perform a full home search

Looking to sell in the Stafford/Fredericksburg area? Get a free Home Price Evaluation

We want to thank all of our friends, vendors, and past clients who were able to join us at our most recent client appreciation event. Thank you for trusting us with your real estate needs, and thank you for trusting us to help your family and friends as well. We had somewhere between 250 and 300 people in attendance at this party, and we had an absolute blast. We had catered food, live music, and all sorts of fun activities for the kids. We were also able to partner with S.E.R.V.E., our local food bank, and raffle off some donations and other great prizes.

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We want to thank everyone who came out to celebrate with us.

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We also managed to sit down with some of our previous clients, and they were kind enough to share their experiences working with our team. You can see what they had to say starting at 1:57 in the video above. Once again, we want to thank everyone who came out to celebrate with us. If you weren’t able to make it, we look forward to seeing you next year. We also look forward to hosting other events throughout 2019, so stay tuned for those as well. As always, if you have any questions or real estate needs, don’t hesitate to reach out to us. We’d be happy to help you.

How We Use Power Washers to Save Money

Info@GilliesTeam.com (Cindy Gillies) — Tue, 17 Jul 2018 07:49:00 -0700

Do not waste money by throwing away your outdoor furniture and buying brand new pieces. Do this instead.

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Today we just wanted to give you a quick outdoor home tip. Instead of replacing your dirty outdoor furniture cushions or trying to wash them in the washing machine, you should consider power washing them instead. Not only will it save you time and money, but it is also pretty fun to do. The cushions in the video above are a few years old and as you can see, they are pretty gross from wind, rain, pollen, etc. Instead of replacing them, I decided to use a power washer to make them look brand new. One thing you do not want to do is get too close to the cushion with the sprayer, because the power washer will rip it. If you maintain a little distance, however, you can get into every nook and cranny and your cushions will be looking like new by the end.

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Consider power washing your concrete steps and your driveway as well.

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Check out how easy this is in the video above. In just 30 seconds, I got the cushions looking brand new. A few more things you should consider power washing are concrete steps, your front door, and your driveway. Once you are done, make sure you get those cushions out to dry in the sun. That is just a quick, fun tip for you today. If you have any questions about the real estate market, or specifically about how to prepare your home to sell for top dollar, please feel free to give me a call or send me an email today. I look forward to hearing from you soon.

Where Are Interest Rates Headed in 2018?

Info@GilliesTeam.com (Cindy Gillies) — Fri, 11 May 2018 13:00:00 -0700

Interest rates have risen since the beginning of the year and are expected to increase again. Let’s discuss what this means for buyers and sellers in today’s market.

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A question many have been asking lately is, “What’s going on with interest rates?” The short answer is that they are going up. Rates have already risen this year and are expected to do so again in the future. Based on positive indicators in the US economy, the Fed is pushing rates back up and tempering years of policy that has been keeping them artificially low. Since the first of the year, rates have increased from around 3.99% to 4.5% as of May 2. It’s hard to say what the future holds, specifically, but I think it’s safe to anticipate a couple more increases by the end of the year. This could put us at, or even above, the 5% mark. However, even if rates do reach this level, they would still be low compared to historical averages. Freddie Mac has easily accessible data going back to the 1970s that supports this.

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If you’ve been thinking of buying, now is absolutely a great time to take advantage of our market.

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So if you’ve been thinking of buying, now is absolutely a great time to take advantage of our market. That said, it’s also a good time to sell. Rising rates will translate to decreased buying power, meaning the current market presents an opportunity for sellers to capture higher prices before this happens. Affordability has a major impact on how buyers make decisions. Even what seems like a small rate increase can have a significant effect on the dollar amount buyers pay for a home. If a buyer would have bought a home for $350,000 at the beginning of this year when interest rates were around 3.99%, their monthly mortgage payments would be $115 less expensive than if they bought a home at that same price today. By the end of the year, a buyer for that same home could see a $200 difference. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

What 4 Methods Can You Use to Determine Your Home’s Value?

Info@GilliesTeam.com (Cindy Gillies) — Tue, 27 Mar 2018 09:38:00 -0700

There are four ways to determine your home’s value. Some of these ways, however, are more reliable than the others.

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What are four methods to determine your home’s value? The first and most basic way is to take a look at your tax assessment. If you got your assessment in the mail, you can look at that. In most counties, you can also visit the county assessor website and check there. In our area, the county assessed home values every two years, and they do so using basic information such as the size of the land and the size of the finished space. There are a couple issues you might have with this method. First, the information they use might be old. The other issue is it’s a very basic method that’s applied with a formula using only certain criteria. This is a decent method to compare your home’s value against your neighbors’ homes, but it’s not the most accurate or up-to-date valuation method. The second method is a free home evaluation website. One of the more popular free home evaluation websites is Zillow, which features their Zestimate tool. A Zestimate gathers information from the county records and combines that with recent sales of other homes in the area. It’s beneficial that Zillow takes into account recent sales of other homes, but what’s not beneficial is they don’t have anyone actually walk through your home. This means they can’t tell the difference between a home that’s been completely remodeled and a home across the street that’s in the same condition it was years ago. If you’re curious about what’s happening with home values in your area, this is a good way to get started.

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Having an agent do a CMA is the most comprehensive method to finding your home’s value.

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The third method is an appraisal. An appraisal happens when you either refinance a house, you buy a house using financing, or you sell a house and the buyer’s lender has ordered the appraisal. The downside to this method is an appraisal typically costs between $500 and $550, so if you’re just curious what your home is worth, it’s probably not a good investment because in two years that appraisal won’t be valid anyway. For the most part, appraisals only happen in a transaction when there’s a loan involved. The appraiser’s job is to make sure the lender is able to safely lend the purchase amount that’s been requested. Lastly, you can contact an agent and ask them to do a CMA, or comparative market analysis. There are a few benefits of a CMA. The first is most agents don’t charge for one. Second, they’re able to look at the market as a whole instead of recent home sales. We can then make some projections and give you an idea of not only what your home’s value is, but also what it may be going forward. Unlike automated websites, agents can actually come out to your home and make adjustments for its different features. If your home is similar to your neighbor’s home that sold a month ago but yours has an extra 300 square feet, that needs to be accounted for. If you have any questions or you’re thinking of selling your home in the future and you want to know what it’s worth, don’t hesitate to reach out to us. We’d love to help you.

Pros & Cons: Buying vs. Renting a Home

Info@GilliesTeam.com (Cindy Gillies) — Thu, 8 Mar 2018 14:11:00 -0800

Is it better to buy or rent a home? I have a few things to consider when it comes to that question.

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Is it smarter to buy a home or rent in the market right now? The answer to that question will always depend on your situation. So, today, I’ll give you a couple things to think about as you’re trying to make that decision. A recent Fed report said that long-term homeowners have as much as a 36x higher net worth than long-term renters. The important thing to know is that if you put yourself in the right situation when buying a house for long-term residence, it’s usually a good decision. On the flip side of that, there are times when you absolutely should not be a buyer and when renting is a much better option. The first thing you need to consider before doing anything else is whether or not you are financially ready. A preliminary call with a lender can help you figure out what your credit looks like and how your current debts may affect your mortgage qualification. At the lender’s recommendation, you may want to work on paying down debts or making some changes to your credit situation before starting the home buying process. If that means renting for a couple of years while you work through that, then that might ultimately be a good financial decision for you. Next, are you in an overall stable financial position? Do you have an emergency fund that enables you to take care of certain issues that might pop up without warning? The great thing about renting is that the landlord takes on that responsibility if the issue is with the property itself. With renting, you don’t have the long-term gain that you would with owning a home, but you also don’t have the short-term pain of having to pay for the repair of an appliance or roof for example.

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A lender can help you figure out what your credit looks like and how your current debts may affect your mortgage qualification.

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When you feel you’re ready, talk to a lender to get pre-approved. A great lender is there to help you make good financial decisions. They can tell you about the state of your credit, whether your income is large enough to make purchasing affordable, and other critical specifics about your finances. Another benefit that comes from speaking with a lender is that they can answer your questions about down payments. We’ve got a huge military presence locally and the VA loan allows a lot of people purchasing in our area to purchase without the requirement of a down payment. If you aren’t a veteran or an active service member, your lender can discuss different loan options with you that offer flexible down payment amounts; you won’t necessarily need to put 20% down. With cash-on-hand being a barrier to homeownership for many, this is an important call to make. Finally, consider how long you plan to live in that home. You might be in a great financial position now, with qualifications for a good loan and down payment, but if you’re only going to live there for a couple years, you might want to consider your long-term goal before moving forward. During that short period, the market may not have increased enough to cover the expenses to sell. You may be buying with the plan to rent the home and hold it as an investment. This can be a great decision as long as you have spoken with your agent about what’s involved with being a landlord and how to set things up to be successful. If you have any questions about buying or renting or would like to review your current situation, feel free to give us a call. We’d love to help you through the process.

6 Questions That Will Help You Choose a Listing Agent

Info@GilliesTeam.com (Cindy Gillies) — Tue, 13 Feb 2018 09:20:00 -0800

When interviewing listing agents for the right to sell your home, there are six important questions you must ask to ensure they can sell your house quickly and for top dollar.

Looking to buy in the Stafford/Fredericksburg area? Perform a full home search

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There are six questions you must ask a listing agent when interviewing them: 1. How many homes have you sold in the last year? This will tell you how active the agent is in the market. If they’re only selling one or two homes a year, that might bring up more questions about how involved they are in your market. Inside of that question, ask how many homes they’ve sold in your community. If everything they’re selling is two counties away, they may be a great agent, but they may not have the experience they need in your community to give you the advice you need. 2. What percentage of your listings actually sell? This is critical because if someone is listing 30 homes a year but only selling 15 or 20 of those homes, you have to ask what’s happening with the other homes that aren’t being sold. Look at this ratio and make sure the agent does everything they can to sell their listings. 3. What is your list-to-sale price ratio? When they list a home, are they typically getting 95% of the price their seller asked? Are they getting 96% or 97%? Or is their ratio perhaps lower than that, like 93%? Whatever the percentage is will tell you a number of different things. First, it will tell you how well they typically price homes. It will also tell you how well they can market homes and generate the kind of traffic they need to sell them quickly and for top dollar.

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Don’t lose out on any hot inquiries because your agent doesn’t have a follow-up plan.

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4. What’s the average time it takes you to sell a listing compared to the market average? Again, this will tell you a lot about what the agent does to market homes and how well they do against the competition. If the average home sale in your price range takes about 30 days and the agent’s average is two weeks, they’re probably doing a great job. On the flip side, if they average 90 days to sell a home in a market when most homes take only 30 days, there might be something wrong. 5. What is your advertising budget? Marketing a home involves more than just putting it on the MLS. There are websites that your home needs to be advertised on and get great exposure. Ask the agent about their marketing budget and where that budget is spent. Also, make sure they have an advertising and marketing plan. Doing the data entry into the MLS is part of what your agent needs to do to get your home exposed, but if that’s all they’re doing, there may be a piece of the puzzle that’s missing. 6. What is your follow-up plan when someone inquires about my house? In a lot of cases, if an agent gets an inquiry from Zillow, it goes to their email and they can respond to it whenever they finish an appointment or as soon as they get to that email. The thing is, though, if you look at studies about online consumers, you need to find a way to get back to them as soon as possible. MIT did a study declaring that you need to get back to an inquiry like that within five minutes. This is really hard to do, so you have to ask the agent what their plan is to get back to online consumers who want information about your home within five minutes. A lot of times, it takes a combination of technology, manpower, and good follow-up plan. We have a full list of 25 important questions you should ask a listing agent before hiring them. If you'd like a copy of that list or if you have any other questions about this topic, don't hesitate to reach out to us. We’d be happy to help you.

How Will the New Tax Bill Affect Us Locally?

Info@GilliesTeam.com (Cindy Gillies) — Wed, 17 Jan 2018 10:44:00 -0800

With the new tax bill coming into effect, many are wondering how it will affect our local market. Here are four ways the bill will and won’t impact us.

Looking to buy in the Stafford/Fredericksburg area? Perform a full home search

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I’m sure that many of you are aware that a new tax law has been passed. There is a lot of uncertainty about how it may affect real estate, so today I’m going to talk about four relevant changes and how they may affect us in our local market. The first of those changes is that the deduction allowed for what you pay toward state and local taxes (SALT) is being capped at $10,000. The important thing to note is that if you pay more than $10,000 in state and local taxes (including property taxes), you won’t be able to deduct any more than the capped amount. Here’s the positive side: the cap won’t affect a large percentage of home sellers or homeowners in the area. This is partially due to our average sales price, so while this may affect a small portion, especially on the high end of the market, it’s not likely to cause sweeping change. Take a look at how much you pay in state and local taxes to get an idea on how you may be affected. The second important change is that the amount that can be deducted for mortgage interest paid throughout the year is reducing as well. Under the previous tax code, mortgage interest could be deducted on loan balances up to $1 million. This has been reduced to loan balances up to $750,000.

Like the first change, this will mostly affect buyers looking to buy in the upper price ranges for our area. The thing to keep in mind is if you have one or more mortgages with total balances of up to $1 million, you are grandfathered into this $1 million legacy cap. Also, you can refinance your balance(s) and still be taxed based on the previous rules. New mortgages taken out after mid-December will be subject to the new cap. If you are looking to purchase and will have total loan balances under $750,000, you will be unaffected by this change.

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THESE CHANGES WON’T HIT OUR LOCAL MARKET AS HARD AS AREAS WITH HIGHER TAXES OR HIGHER AVERAGE SALES PRICES.

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The third item on the list is the new tax bill’s effect on capital gains—it won’t change at all. In previous versions of the bill, congress looked at changing the amount of time that someone would have to live in their home as a primary residence to be exempt from capital gains on the sale. Until the last minute, many thought this would change from from a primary residence requirement for two of the last five years to five of the last eight years. This would have been a massive change because one of the biggest benefits to homeownership in any area is that if you live in a home as a qualifying primary residence, your gains on the sale of that home aren’t taxable as capital gains. Our area is very transient; we’ve got a huge military contingent, tons of federal workers, and a lot of contractors that move regularly and often in less than 5 years. Large numbers of homeowners having to pay taxes for selling before the proposed five-year mark could have had a devastating impact on the local market. Sellers could have been forced to hold their homes off the market and it would have made it a lot more expensive for many in our area to sell their home. Targeted lobbying efforts from the real estate industry contributed to the final bill keeping the time frame at two of the past five years. This was a big victory. The last item is something that can affect sellers anywhere. Deductions for moving expenses are no longer allowed, with the caveat that if the seller is a member of the military, those deductions can still be factored in. Keep this in mind as your factoring in your moving costs. The big thing to keep in mind as we look at these changes is that you’re going to hear quite a bit of negative reporting. Even the National Association of Realtors has said that some of these changes could have an effect of up to 10% on prices. The key here is that locally, our average sales price will mitigate the effect of the first two changes. It won’t hit our local market as hard as areas with higher taxes or higher average sales prices. Going into 2018, things still look really positive. There are many things that are still going our way, and for our area in particular, I don’t anticipate these changes having a big negative impact. Since I’m a real estate agent and not a CPA, I can’t give you tax advice, just my opinion as it relates to real estate. If you do have further questions about the tax bill, I can put you in contact with a CPA to provide you with more details and insight. For any other questions regarding real estate, feel free to reach out to us. We’d be glad to help you.

What Does the End of 2017 Mean for the 2018 Market?

Info@GilliesTeam.com (Cindy Gillies) — Fri, 15 Dec 2017 14:05:00 -0800

We end 2017 in a balanced market, which means it’s a good time for both buyers and sellers to take advantage of it.

Looking to buy in the Stafford/Fredericksburg area? Perform a full home search

Looking to sell in the Stafford/Fredericksburg area? Get a free Home Price Evaluation

What did we see in our local market in 2017? The easiest way to answer that question is by answering another question I get almost every time I talk to someone about real estate: Is it a buyer’s or seller’s market? Over the course of 2017, we saw a little bit of both. Spring was a very successful time for sellers. Midway through June, though, the buyer activity that was putting upward pressure on prices slowed down. That slowdown continued on into August and allowed inventory levels to creep up a bit in certain price segments. Over the past few months, things have started to normalize. Inventory has come back down and buyers have begun to re-enter the market, which is a really positive sign. This means we’re not carrying as much inventory into the winter months leading up to the spring market push.

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It’s a great time to be a buyer or a seller in our market.

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Going into 2018, I don’t think we’re in a solid buyer’s or seller’s market—we’re in a balanced position. There are a lot of things we’ll have to wait and see about next year, including the current tax overhaul discussion that’s happening. What does all this mean if you’re considering buying or selling a home in 2018? In our area, the pace of sale is usually strong going into the spring. If you’re a seller and your home is priced and prepped correctly, you will absolutely have a successful spring. If you’re a buyer, you still have a great opportunity to buy because interest rates are still low and we haven’t seen enough inventory reduction to create an extreme seller’s market. Also, remember that we’re expecting several rate increases in 2018, so your best opportunity to maximize purchasing power may be sooner rather than later in the year. In short, it’s a great time for both buyers and sellers. If you have any more questions about our market or you’re thinking of buying or selling in the upcoming months, give us a call or shoot us an email. We’d love to help you!

New Year – New Home! Get Prepared!

Info@GilliesTeam.com (Cindy Gillies) — Tue, 12 Dec 2017 10:17:00 -0800

Are you thinking of buying a home in 2018? Here are a few tips that can help.

Looking to buy in the Stafford/Fredericksburg area? Perform a full home search

Looking to sell in the Stafford/Fredericksburg area? Get a free Home Price Evaluation

The new year is here – this means new beginnings, new resolutions and for many, new homes! Today I’ll go through a few tips to help you prepare to buy a home in 2018. Even if you aren’t sure exactly what your timeline is, the best thing you can do is to begin the process early and take time to prepare. But that doesn’t mean that you need to make any major decisions or lock yourself into anything before you’re ready. There are a few steps you can take that will help you be ready when the time is right. First of all, have an idea what your credit looks like. You may have things on your credit report you aren’t currently aware of. There are free sites you can use to help you check your score so that there aren’t any surprises when you're ready to move forward with your home purchase. The next thing you should do is talk to a reputable lender. If you don’t know who to talk to, I’d be happy to give you some recommendations. Talking to a lender early on will set you up for a more efficient home buying process and will help you feel secure in your decisions about what to look for. A great lender will be able to guide you toward the right loan program and show you some real numbers to give you an idea of what your payments will look like.

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WHEN BUYING A HOME, TAKE THE TIME TO PREPARE.

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Once you’ve talked to a lender, you should interview real estate agents. Too many buyers fail to be their own advocate when choosing an agent. It’s very important that you get information on an agent’s experience, where they are market experts and what sort of systems they have in place to ensure a smooth home buying process. This will allow you to make an informed decision about which professional will represent your needs the best. Many experienced agents offer a home buying consultation. This helps them understand your wants and needs and he or she will give you a clear picture of what you can expect from the rest of the process. This includes things like inspections that will be conducted, out-of-pocket expenses and deposits. You’re likely to spend a lot of time with this person so you want to make sure they’re someone you’re comfortable with and enjoy being around.
After you choose the right agent, PUT THEM TO WORK! They should start sending you property listings based on your specific criteria. Have conversations with your agent about which homes you like and don’t like – the more they know about your perfect home, the more they can do to help you find it. Finally, when the time is right, get out and look. Doing so will give you a better idea of what you like and what you should expect from the market. Seeing homes in person, even if they’re not the home you fall in love with, will give you great perspective so that when you see the right home, you know it. Buying a home doesn’t have to be a super-fast process. Take your time, be well prepared and have the right pros on your side. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

What Does the Fed’s Recent Announcement Mean for You?

Info@GilliesTeam.com (Cindy Gillies) — Tue, 24 Oct 2017 14:08:00 -0700

Now that the Fed has announced they’ll start reducing their balance sheet, you should consider buying or selling sooner rather than later.

Looking to buy in the Stafford/Fredericksburg area? Perform a full home search

Looking to sell in the Stafford/Fredericksburg area? Get a free Home Price Evaluation

As you may have heard already, the Federal Reserve had a meeting on September 20th. At that meeting, they announced that they are going to start reducing their balance sheet. This means they’ll start reducing their massive holdings of the mortgage-backed securities they bought during the height of the economic crisis. What does this mean for buyers and sellers? The first thing to keep in mind is this isn’t an immediate situation. This program is getting ready to start, but the Fed owns $3.5 trillion in these securities, and they’ll only be selling back $10 billion a month initially.

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Whether you’re a buyer or seller, it’s a good idea to think about how this might affect your situation.

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If you’re planning on buying a house and getting a mortgage loan to do so, the monthly amount you’ll be paying on that mortgage will be affected in a huge way by how much the interest rate is. Over time, the Fed reducing their balance sheet will increase borrowing costs for consumers, which in this case means interest rates. Essentially, if you wait as long as six months to a year from now to buy, it will either cost you more to buy or you’ll be able to afford less house. If you’re considering selling your house a year or two down the road, you want to think hard about doing it sooner rather than later because of the effect this decision is having on buyers. If you wait, they won’t be able to afford as much house or they’ll have to purchase at a lower price. This is especially true if your house is in the upper price ranges of your area or it’s considered a move-up house for buyers. Whether you’re a buyer or seller, it’s a good idea to think about how this might affect your situation. If you have any other questions about this subject or you’re thinking of buying or selling a home in our area, don’t hesitate to reach out to me. I’d be happy to help you.

How Title Insurance Keeps You Protected From Unforeseen Problems

Info@GilliesTeam.com (Cindy Gillies) — Wed, 18 Oct 2017 09:36:00 -0700

What is title insurance and why is it so important? Today, I’ll be explaining why title insurance is essential for homeowners.

Looking to buy in the Stafford/Fredericksburg area? Perform a full home search

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What is title insurance and is it something that you need when you purchase a property? Title to a property describes the rights the owner has with regard to that property. In a nutshell, title insurance provides protection for the owner of a property in a case when an issue arises regarding their ownership and the rights provided by title. This policy can help to cover homeowners in a number of circumstances. For example, what happens if someone receives a contract to sell their property only to discover during the contract period that there is a lien they didn’t place on the property dated before they even bought the home? Having purchased a title insurance policy when closing on the home in many cases will allow the seller to move forward with the sale without jeopardizing their contract. The title insurance company signed off on the title at the time of purchase and will stand in for the seller to insure it’s marketability. There are many other situations where title insurance can provide coverage as well. Another example is a situation wherein a buyer had a survey done to determine the property’s boundary lines prior to closing. After the fact, the boundary lines come into question or an encroachment is discovered from a neighboring lot. Having the combination of a survey and title insurance will provide protection against these issues negatively affecting your interest.

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IT IS IMPORTANT TO BE PROTECTED FROM THE UNEXPECTED.

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Situations like the ones above (and many others) bring the ownership interest the buyer has in the property into question. Title insurance is there to help guarantee that the ownership and rights a buyer receives when buying their property are protected. Ultimately, no one expects to need this kind of insurance. Nevertheless, it is important to be protected from the unexpected. I receive a number of requests each year from title companies asking for the seller’s title insurance policy due to something unexpected being found during the title search. In most cases, once the seller provides the policy the sale continues forward without issue because the insurance policy stands in for the seller. If no policy was in place the sale could be delayed, cancelled and the seller could be stuck with a sticky situation and no safety net in place. Consider if you were to drive without auto insurance. People don’t get in their car anticipating a crash—but things sometimes happen. This is also the case with title insurance. You may never use it, but you don’t want to be without it when you need it. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

The True Benefit of Working With a Team

Info@GilliesTeam.com (Cindy Gillies) — Tue, 26 Sep 2017 08:24:00 -0700

When it comes to a real estate transaction, you’ve got one shot to do things right. Why work with just one agent when you could have a team of people all working to make your transaction go smoothly?

Looking to buy in the Stafford/Fredericksburg area? Perform a full home search

Looking to sell in the Stafford/Fredericksburg area? Get a free Home Price Evaluation

Today I want to talk about the difference hiring a team of agents can make for your transaction. Obviously, you want the process of selling your home to go as smoothly as possible. For this to be achieved, you’ll need to have good, strong communication with whoever you’re working with. When you work with a team, you’ve got the benefit of having a number of people taking care of the many steps of the real estate process, instead of just one agent trying to take on all the work him or herself. Having multiple people dividing up the work of completing pricing analysis, staging, taking photos, marketing your home, negotiating contracts, hosting showings, scheduling inspections, processing hundreds of pages of paperwork and more, will really help things move more smoothly. A single person only has a finite amount of energy they can expend and direct into the important tasks of the real estate process. One person dividing their time and energy is much less effective than having a team of individuals all focusing on different parts of the process. When you work with a team, you are working with people who are specialized in different areas. On my team, for example, we separate out our listing specialists and buying specialists. The job of a listing specialist and that of a buying specialist are very different. A listing specialist needs to spend their time working on pricing, marketing, and creating exposure for sellers. A buyer’s agent needs to have time available to spend on the road with their clients, making sure they have the right perspective to make a good decision.

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HAVING SPECIALISTS DIVIDE THE WORKLOAD THROUGHOUT YOUR TRANSACTION WILL HELP THINGS MOVE MORE SMOOTHLY.

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One person trying to do both of these jobs and more would cause every area of their work to suffer. Teams like ours also have staff working on the process to make things go more smoothly for clients. On our team, we have a marketing coordinator whose only job is to make sure that all of the marketing details are taken care of in a timely, efficient manner. Real estate transactions are all about timing. For this reason, our team uses a transaction coordinator to help finalize all of the details of the sale. Utilizing a team of staff members and agents is hugely beneficial in helping the transaction to move forward smoothly. When it comes to a real estate transaction, you get one shot to do it right. Would you rather have one person working on your behalf, or would you rather work with a team of specialists?
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Join Us for Our 2017 Client Appreciation Party

Info@GilliesTeam.com (Cindy Gillies) — Thu, 14 Sep 2017 09:50:00 -0700

Our annual client appreciation party is coming up at the end of the month, and you are cordially invited.

Looking to buy in the Stafford/Fredericksburg area? Perform a full home search

Looking to sell in the Stafford/Fredericksburg area? Get a free Home Price Evaluation

Our annual client appreciation party is coming up quickly and we’re making thorough preparations to make it our best one yet! These parties are important to us because they give us the opportunity to see you and your families, catch up, and have a great time doing so. They also give us a chance to say thanks for trusting us with your homes and with your friends and family we’re fortunate to hear from so often when real estate needs arise. We'd love to have you join us on September 30th from 1pm to 5pm. If you haven't already received your invitation in the mail, just give us a call or send us an email to RSVP and we will send you all the details.

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This is our chance to say thank you for trusting us.

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As always, we’ll have live music, plenty of food and drinks, and a whole range of fun activities for the kids to enjoy. We couldn’t be more excited about it, and we can’t wait to see you there! If you have any questions, don’t hesitate to reach out to us. We’d be happy to speak with you.

How Do Professional Photos Help Sell Homes?

Info@GilliesTeam.com (Cindy Gillies) — Thu, 24 Aug 2017 08:08:00 -0700

Why are professional photos such an important aspect of marketing your home?

Looking to buy in the Stafford/Fredericksburg area? Perform a full home search

Looking to sell in the Stafford/Fredericksburg area? Get a free Home Price Evaluation

Why are professional photos such an important part of the home selling process? First of all, a huge percentage of buyers across all age groups begin their home search online. In fact, experts estimate that more than 95% of homebuyers start looking at homes on the Internet. As a result, buyers decide which homes to see in person based on the photos or videos of your home that they see online. A listing isn’t just a description of the house anymore. You need photos to create an emotional connection between the buyer and your house before they even step foot in it. Objectively speaking, buyers will get a better idea of what your home is really like by looking at professional photos rather than pictures you take on your phone. Professional photographers understand how to properly light your home and they have the right equipment to showcase the positive features of your home to online buyers. Perhaps more importantly, we want to be at the top of buyers’ lists before they ever come out to see our listings. Being a buyer’s number one choice helps support our pricing – the buyer is excited to see the home in person and has a high opinion of value based on what they see. On the flip side, if a listing barely makes a buyer’s list due to poor presentation, their opinion of value starts low and has to be pulled up from the poor initial impression. This can cost a seller money due to longer marketing time and lower offers.

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Over 95% of buyers begin their search online.

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The whole point of marketing your house is to get someone to come see it in person. If someone clicks through your listing photos and then moves on to the next listing, your listing photos probably didn’t do their job. To sell quickly and for the most money, you need an agent who uses professional photos and video to market your home. When interviewing agents, make sure this is one of the questions you ask. It can’t be overstated how important a well prepared and presented home impacts the home seller. It’s also important to note that not all “professional” photographers provide the same quality of work. Make sure to look at the agent’s past listings to make sure the photos wow you. The Gillies Team takes professional photos for all of our listings, in addition to offering a consultation with a professional home stager so you know you’re 100% ready for the photographer to capture your home at its very best. Remember, preparation, presentation, and exposure help you get the most money for your house as quickly as possible. If you have any other questions about professional photos or about the home selling process in general, give us a call or send us an email. We would be happy to help you!

Why You Need to Test for Radon Gas

Info@GilliesTeam.com (Cindy Gillies) — Thu, 3 Aug 2017 15:34:00 -0700

Having the radon level tested in a home is a very important step in the real estate process that can actually save lives.
Looking to buy in the Stafford/Fredericksburg area? Perform a full home search

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Radon gas is something that’s around us all the time and could impact the real estate process. This is because it can become concentrated in places like basements, where it is typically tested for. So what does this mean for you?

Radon gas exposure is the second leading cause of lung cancer in the United States. This is a topic that comes up a lot in the real estate process because it’s a standard contingency in our area. Thankfully, there are a few ways to identify and deal with it.

Whether you’re on the buyer or seller side of a real estate transaction, you are likely to go through the radon testing process.

In most cases, this involves having an inspector come to the house to place a test that will read radon levels for 48 hours. After that time, it will give you an average reading from which you can determine whether or not there is a problem that needs to be dealt with.

Specifically, you will look whether the test is above or below the 4.0 EPA action level. If the test comes in above this level, however, it doesn’t mean that you will be unable to buy or sell the house.

The radon level can be reduced through a very standard process which will leave the home safe.

The radon level can be reduced through a very standard process which will leave the home safe. Usually at this point a contractor who consistently, if not exclusively, does radon work will come out to the property and install a system that pulls air from below the house in order to prevent radon from concentrating.

Thankfully the process is neither complex nor is it cost prohibitive—usually costing in the $850 to $1,000 price range.

If you are a buyer and this device is installed by the seller in the property you’re purchasing, the process will be as simple as periodically checking the device’s u-shaped dial to make sure it is working properly and that your house is protected.

If you want any more information or have any other questions on this topic, feel free to contact by giving us a call or sending us an email. We look forward to hearing from you.

Should You Accept a Contingent Offer on Your Home?

Info@GilliesTeam.com (Cindy Gillies) — Wed, 12 Jul 2017 18:01:00 -0700

A lot of buyers in today’s market need to sell their home first before they can buy another. As a seller, should you accept that contingent offer?

Looking to buy in the Stafford/Fredericksburg area? Perform a full home search

Looking to sell in the Stafford/Fredericksburg area? Get a free Home Price Evaluation

What if a buyer makes an offer on your house and they still have a house to sell?

I often get a call from an agent who says, “Great news! I took my clients by your listing and they love the house. They want to put a contract in.”

When I ask when they will send in the contract, the other shoe drops. The agent says, “Well, they have a house that they have to sell first before they can buy your client's house. Would your seller consider accepting a contract that’s contingent on the sale of the buyer’s home?”

If you’re the seller in this situation, it’s a good idea to have a conversation with your agent to see what your best course of action is.

In many cases, a contingent offer is not worth the risk.

First of all, what are the risks involved with a contingent offer? If you are in a market where your house should sell at or below the average days on market, do you want to take your house off the market for this offer? You may lose the opportunity to find a better buyer over the next two weeks, and you may even miss out on a multiple offer situation.

In most cases, accepting the offer is simply not worth the risk.

So, is there ever a time when it makes sense to accept a contingent offer? Shouldn’t you just ask the buyer to come back once their home is under contract?

There are a few instances where you may want to accept a contingent offer. For example, let’s say you have a very unique property, like a farm. You need the right type of person to jump in and run that farm. If that buyer has a house to sell, we’ll research the home. If we believe that their home will sell, it may make sense to pull your farm off the market and accept that contingent contract.

Another example would be if you expect your home to take longer than the average time on the market to sell. You have more leverage with the contingent buyer. You can accept their offer but only on the terms that work best for you.

Of course, it’s also important to consider the buyer’s perspective. In today’s market, a lot of buyers have to sell their homes in order to move up and buy something else. In that case, what can you do?

If you have to be a contingent buyer, make sure that you get your house on the market and have a good idea of what homes are available for you to purchase. Then, once your home is under contract, you can make on offer that is contingent on your house making it to closing, which is a bit stronger than the typical contingent offer.

Whether you are buying or selling a home, if you have any questions about contingent offers, just give us a call or send us an email. We would be happy to help you!

The Keys to Staging Your Home While Still Living in It

Info@GilliesTeam.com (Cindy Gillies) — Mon, 15 May 2017 12:13:00 -0700

Staging your home for the market involves depersonalizing, decluttering, neutralizing, and three other key points to remember.

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If you need to stage your home to prepare it for the market while you’re still living in it, there are four main points you need to remember to maximize its value. First, you need to depersonalize, declutter, and neutralize. These three things are at the core of what it means to stage and get your house ready. The reason why you depersonalize and take down family portraits, kids’ trophies and other personal items is that we want the person who walks into your home to envision themselves living there. Your home is a place where you have created memories, but when the time comes to sell we need the buyer to be able to make that same connection and feel like it is a place where they will make their own family memories. When you declutter and neutralize, you’re making sure you’re not distracting buyers with bold colors or too many things in your house so they can focus on the things that make your house great. Second, work to make sure each room has a purpose. Oftentimes there are rooms in a house that are sparsely used or used for a purpose the average buyer is unlikely to copy. For example, many homeowners use their formal living room as a kids’ play room. Think about repurposing this room as a 2nd living area or an office – these are uses buyers are likely to see value in and can envision using it in a similar way. If you can show value in each room and present it as a place buyers can see themselves using we are likely to get a higher return on the square footage.

Depersonalizing, decluttering, and neutralizing are at the core of what it means to stage your house.

Third, remember throughout this process that the objective is to move. This means you’ll have to pack up and move your things. If you have too much furniture or other items that have collected over the years, box them up and take them away before marketing your home. It can be a good idea to rent a storage unit during the marketing period so you can hang on to your belongings while allowing your home to show its best.

Fourth, enlist some professional help. I’m preparing homes to go on the market every day but when it’s time to sell my home I will hire one of our professional stagers to walk through to give me an objective opinion and advice on how to present it best. Because we live in our homes we can become blind to some things that need attention. Stagers are experts in design. We know how we want our listings to look when everything's said and done, but they know how to get us there. A stager can give you a task list of things to do and give you practical advice on things like furniture placement and color choices. Appealing to the largest number of buyers is critical to getting your home sold for top dollar. Professional staging is the first step toward making sure you’re ready to present your home to potential buyers.

If you have any questions about how to get your home ready for sale, don’t hesitate to give us a call. We’d love to hear from you.

How We Eased Tracy's Transaction Process

Info@GilliesTeam.com (Cindy Gillies) — Wed, 12 Apr 2017 13:18:00 -0700

"It was good. I had no problems. Dale took care of everything. It was very easy. The house was left a mess from the previous owner. The realtor taking care of it didn't deal with it. My realtor talked to the other realtor and they had a cleaning crew come in and clean."

To contact the Gillies Team, Call 540-300-1582 or email Info@GilliesTeam.com

Why Theo Thinks We Are Professional

Info@GilliesTeam.com (Cindy Gillies) — Wed, 12 Apr 2017 13:13:00 -0700

"I had very good results. Very satisfied. Very professional. Would definitely recommend their team. They did a very good job. I had been working on this house for a year and a half. The painters when they painted it, they painted over an alarm on the wall. We didn't know there was an alarm in the house. Mike Gillies got me through the process of how to make it right between myself and the new owners."

To contact the Gillies Team, Call 540-300-1582 or email Info@GilliesTeam.com

How We Went Above and Beyond for Lori

Info@GilliesTeam.com (Cindy Gillies) — Wed, 12 Apr 2017 12:56:00 -0700

"They did such a good job for us, my son sold his house with them too. It's the whole team, not just Cindy or Mike. We worked with Michael, their son. I just can't speak highly enough of them. Their expertise, their personal touch. We really felt like they wanted to sell our house, they wanted us to sell our house. They were just our best advocate. They had done such a great job with showing us how to market it, that we actually sold the house in four days. How could we go wrong? They knew what they were doing, what they were about; very professional. I can't speak highly enough about them. They were wonderful. We put the house on the market July 1st. We had Michael in negotiations on July 4th, the holiday. Now, If that isn't above and beyond! We didn't expect him to work on it. On the holiday he was with his family they were celebrating some place, and yet he was negotiating with the buyer on our behalf while we were on vacation. That is above and beyond. He was willing to do it, he didn't want any time to go by, he wanted to close the deal, make everybody happy, both parties happy. That was certainly appreciated."

To contact the Gillies Team, Call 540-300-1582 or email Info@GilliesTeam.com

Why Leslie Thinks We Are Excellent

Info@GilliesTeam.com (Cindy Gillies) — Wed, 12 Apr 2017 12:48:00 -0700

"The Gillies Team is amazing. They are by far the most consistent, excellent, I can't say enough about how professional they are. They make you feel as if you are the only client that they have. They are wonderful. They are honest. We've worked with a lot of Realtors over the years, and they are the first ones that feel like family, they truly do. They get the results in a timely manner. They always return calls in a timely manner. Everything they do is just done exceptionally well. They just sold a house for us. They don't typically do rentals, and they went out of their way to not only help us secure a rental, they also drove all the way up to Northern Virginia to help us find a house. We were looking for a home in Loudoun County, Virginia, and they went out of their way to go way up there to meet us to look for homes. Pretty much, anything we needed, they were there to help us. They were always available. They were always intentional. They were always excellent. When I think of them, I think of excellence, excellence, excellence."

To contact the Gillies Team, Call 540-300-1582 or email Info@GilliesTeam.com