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        <title>Real Estate Blog</title>
        <link>http://www.757realestate.com/blog/</link>
        <description>Real Estate news in Hampton Roads. Mike and Angie Nishnick give some insight to the local Hampton Roads real estate market.</description>
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            <guid>http://www.757realestate.com/blog/buying-a-home-in-todays-market.html</guid>
            <link>http://www.757realestate.com/blog/buying-a-home-in-todays-market.html</link>
            <author>757team@gmail.com (Mike &amp; Angie Nishnick)</author>
            <title>Buying a home in today's market</title>
            <description> <![CDATA[ 
 Buying a Home in Today's Market


Buying a home in today's market can be tricky.  Without an agent to represent their interest, buyer's really do not know what the market offers.  Sellers hire agents to represent them in a transaction.  Doesn't it make sense that a buyer would do the same thing?


The image to the left is a settlement statement of a buyer Angie worked with for over a year.  She was more than qualified, we just had to find the home that spoke to her.  Through the negotiations, Angie was able to negotiate all of her closing cost, prepaids, and more.  At the end of the transaction, the buyer received her $1000 earnest money back.  She was using a VA loan.


If you are thinking about purchasing a home, take an hour with us.  We will take the time to explain the whole process, give you an idea of what is available, and help guide you along the way.  The market is shifting and homes are starting to sell quick.  Don't miss your opportunity to buy in a favorable market.
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            <pubDate>Tue, 01 May 2012 10:35:21 -0400</pubDate>
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            <guid>http://www.757realestate.com/blog/the-25-billion-robo-signing-settlement.html</guid>
            <link>http://www.757realestate.com/blog/the-25-billion-robo-signing-settlement.html</link>
            <author>757team@gmail.com (Mike &amp; Angie Nishnick)</author>
            <title>The $25 Billion Robo-Signing Settlement</title>
            <description> <![CDATA[ 



The news has been abuzz in the past few weeks about the historic Robo-Signing Settlement reached between the government and five major lenders. The settlement raises lots of questions. But for distressed homeowners, there is only one:


Can this settlement help me stay in my home?


The answer: Possibly! For many distressed homeowners, however, it is very likely that they have had options all along!


As a Certified Distressed Property Expert (CDPE), I am uniquely qualified to help determine your eligibility and answer any questions about the settlement. If you or someone you know has found themselves wondering if the Robo-Signing Settlement may give them hope to escape foreclosure, visit my website http://www.shortsalesagent.info/ for a copy of the report entitled "The Robo-Signing Settlement: How it can help you stay in your home!"


article reprinted from CDPE designation membership


 
 ]]> </description>
            <pubDate>Fri, 06 Apr 2012 09:48:03 -0400</pubDate>
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            <guid>http://www.757realestate.com/blog/warning-brag-post.html</guid>
            <link>http://www.757realestate.com/blog/warning-brag-post.html</link>
            <author>757team@gmail.com (Mike &amp; Angie Nishnick)</author>
            <title>Warning- Kudos to Us Post !</title>
            <description> <![CDATA[ 
 We have been in the real estate industry for many *many* years.  Angie started out as the Training Coordinator for the Hampton Roads MLS and Mike received his license in 2000.


We have seen the market at its highest and at its lowest and now leveling out to be a normal market.


We just wanted to take a moment to do some self promotion =).  Are market time is almost less than the area the home is in.  We help sellers reach their goal of selling quickly.  When we price a home we do extensive research.  Extensive to us means we are taking days to reach a realistic price.  We don't just take a couple of hours and run the neighborhood the home is in.


With that said, take a look at some of the homes we have sold in March/April.  Want to sell your home in Hampton Roads, call us. We'd love to interview for the job!






 









1523 Halstead AveNorfolk, VA 23502


Listed  3/26/122 Offers  received: 4/2/12


Status:  in negotiations






 

604 Windward DriveChesapeake, VA 23320


Listed: 2/2/12


1st offer received: 2/4/12


2nd offer received: 2/15/12


Status: under contract to close 4/13/12






We sold unit two homes (unit 224 and 125 at)  Parkview Condos at Greenbrier

One sold March 5 and the other sold on March 28th.


This make 12 sold since October 1, 2011.






3503 Mountain DriveVirginia Beach, VA 23453

Listed: 3/19/12


Sold: 3/22/12


Status:  short sale in negotiations with bank








 


 


 


 
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            <pubDate>Tue, 03 Apr 2012 13:38:53 -0400</pubDate>
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            <guid>http://www.757realestate.com/blog/financing-a-new-home-conventional-vs-fha.html</guid>
            <link>http://www.757realestate.com/blog/financing-a-new-home-conventional-vs-fha.html</link>
            <author>757team@gmail.com (Mike &amp; Angie Nishnick)</author>
            <title>Financing a new home:  Conventional vs. FHA</title>
            <description> <![CDATA[ 
Beginning April 1, 2012 FHA insurance premiums will rise for fourth time since 2010.  Upfront mortgage insurance premiums will be higher by 75 basis points, or 0.75%; and annual mortgage insurance premiums will be higher by 10 basis points per year, or 0.10%.


Buyers should now ask the question of is FHA the cheapest and best way to finance a  home.  Fox Business News posted a great article on March 8, 2012 with this topic. 


The key aspect to any home buyers is the required down payment and the monthly cost.  If you have great credit, conventional loans may be the right choice.  The normal down payment is 10-20%, however there are banks that only require 5% down.  We know of two national banks that have this program.  Going conventional waives mortgage insurance that is normally required on FHA loans.  Conventional loans allow the seller to contribute up to 3% of the sales prices to the buyer.  This is normally credited towards the buyer's closing costs.


FHA requires a 3.5% down payment (seller can not contribute to this).  The loan guidelines are not as strict as conventional.  The new FHA insurance premium will will increase by 0.10 percent to a total of 1.25 percent of the loan amount.  This can significantly increase your monthly mortgage payment.  The seller can contribute up to 6% of the sales price, however 3-4% is the normal seller concession in the Hampton Roads real estate market.


The Fox Business article had a great example of payment difference on a $220,000 sales price:


A $220,000 purchase with a down payment of 5 percent will require a monthly FHA payment of $1,185. A conventional borrower with a credit score of 760 or above would pay $1,086 per month on that same loan.


The key to any loan is having a great loan officer to help explain which loan is best for you.  We recommend loan officers who have proven to go the extra mile for our clients.


Give us a call or email if you'd like to discuss your new home purchase.


 


 



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            <pubDate>Fri, 09 Mar 2012 11:16:27 -0500</pubDate>
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            <guid>http://www.757realestate.com/blog/who-do-i-write-the-check-to.html</guid>
            <link>http://www.757realestate.com/blog/who-do-i-write-the-check-to.html</link>
            <author>757team@gmail.com (Mike &amp; Angie Nishnick)</author>
            <title>Who do I write the check to?</title>
            <description> <![CDATA[ 
Earnest money deposit, home inspection, loan application are just some of the checks a home buyer will write during the process of buying a home.  The common question of who to write the check to is often asked.


IN NO CIRCUMSTANCE should the check be made to the real estate agent or loan officer.  It is always made to the company they work for. Payment for the home inspection goes to the home inspector's company (or to the home inspector if they own it).  If you forget your checkbook, make arrangements with the inspector.  I've had a couple buyers forget their checkbooks and never have I 'spotted' them the money. 


A licensed agent can have a complaint filed against them for co-mingling of funds.  By law, no licensed agent is to recieve a personal check from any client.  All checks are to be made to the company.  Keeping with that thought, all payments TO the agent are from their company.  No client should pay an agent directly.


The same rule applies to a loan officer.  Payment for credit checks, appraisal, loan application, etc should be made to the mortage company the loan officer works for.  No checks should be made out personally to the loan officer.


When in doubt ask for the manager and always keep a copy of the check.
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            <pubDate>Wed, 07 Mar 2012 10:29:16 -0500</pubDate>
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            <guid>http://www.757realestate.com/blog/no-agent-hows-that-working-for-you.html</guid>
            <link>http://www.757realestate.com/blog/no-agent-hows-that-working-for-you.html</link>
            <author>757team@gmail.com (Mike &amp; Angie Nishnick)</author>
            <title>No Agent?   How's that working for you?</title>
            <description> <![CDATA[ 
As licensed Realtors® we always get questions about real estate.  We never mind answering questions, but there are some things to know before asking a Realtor® a question.


1) If you have an agent or  Realtor® we can't answer anything!  It's against the Code of Ethics. No exceptions.


2) If you are a home buyer, why not hire us?  We are full of information and have the resources to reputable lenders, home inspectors, attorneys and title companies. There is no need to 'wing it'.  We only use reputable, established , and experienced professionals. 


3) If you are selling your home and it's currently listed with an agent, please don't ask us why we think it hasn't sold.  See statement #1.  We KNOW why it hasn't sold, we just can't share that until the listing is expired or withdrawn.  Our homes normally sell within 60days.


True, it's not rocket science selling or buying a home.  However, we've sold 100s of homes.  We are in the real estate industry every day.  We KNOW the market, what's normal, what to do, and the entire process from beginning to end.  Yes, you have the Internet and of course HGTV.  Keep in mind, EVERY MARKET IS DIFFERENT.  What happens on HGTV in Texas, New York, LA or any other city, most likely isn't going to happen here.   Got Questions?  We are experienced and have a ton of answers !


Something to think about.....a buyer without an agent can 'search for a home' for months.  In reality, a good agent can put you into a home in 45 days.  So while you are still looking, all the great deals are being sold.  The same goes for the for sale by owner seller. All I can say is good luck selling it on your own in today's market.  It takes extensive Internet skills, access to thousands of agents with qualified buyers, and ability to show the home at any given time to sell a home. Did I mention it takes personality and sales skills too?  A simple sign in the yard isn't going to cut it.


Finally ready to hire us?  Give us a call or use the contact us link on top.  We look forward to speaking to you.  We think you will love the way we conduct our business!


 
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            <pubDate>Thu, 19 Jan 2012 13:18:34 -0500</pubDate>
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            <guid>http://www.757realestate.com/blog/the-biggest-mistake-homebuyers-make-when-buying-a-used-home.html</guid>
            <link>http://www.757realestate.com/blog/the-biggest-mistake-homebuyers-make-when-buying-a-used-home.html</link>
            <author>757team@gmail.com (Mike &amp; Angie Nishnick)</author>
            <title>The Biggest Mistake Homebuyers make when buying a used home!</title>
            <description> <![CDATA[ 
#1 Biggest mistake buyers make when buying a used home


THE MOST IMPORTANT THING THAT HOME BUYERS SHOULD KNOW


The most important thing that buyers don't know about buying a home is that the seller pays the real estate commission. What does this mean to you as a buyer? This means that the buyer's agent usually works at no cost to you.  If you are looking for a home, and you call the listing agent to view that home, who do you think the listing agent represents? The seller! It would be like going into court and having your opponent’s attorney handle all the details. Since the seller pays the commission, if you are looking at listed property without a buyer's agent, you are only cheating yourself.


THE BIGGEST MISTAKE THAT BUYERS MAKE


The biggest mistake that a buyer will make is not using their agent enough. Buying a home is an extremely complex process; especially with all the national rules and regulations changing daily. The market can change from week to week and even from day to day.  It can cost the buyer money if they are not aware of the changes. Only real estate professionals can keep up with these changes and protect you from making costly mistakes that could hurt you financially. That is why buyers should not be shy about calling their agents and discussing ideas with them.


Do we mind when our clients call us? No! We love selling real estate, and we love talking about real estate, so please don't hesitate to call us with questions anytime morning or evening.


 


        
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            <pubDate>Fri, 13 Jan 2012 09:07:00 -0500</pubDate>
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            <guid>http://www.757realestate.com/blog/whats-the-buzz-about-parkview.html</guid>
            <link>http://www.757realestate.com/blog/whats-the-buzz-about-parkview.html</link>
            <author>757team@gmail.com (Mike &amp; Angie Nishnick)</author>
            <title>What's the buzz about Parkview Condominiums at Greenbrier?</title>
            <description> <![CDATA[ 



Parkview Condominiums has been the buzz of Greenbrier.  Our most current buyer heard about the homes from her hairdresser.  The buyer before her saw the homes on Realtor.Com.  So, whats with these condos?


How about approximately $40,000 in upgrades included!   That's right, hardwood, recessed lighting, granite in kitchen and bathrooms are just to start.  The kitchen is absolutely gorgeous with top of the line cherry cabinets with crown molding, under cabinet lighting and stainless steel appliances (with fridge!). Yes, that's correct ONE price for everything- zero upgrade cost!


We have a few homes left under $200,000. Two of them have balconies!  Currently, we have 1, 2, and 3 bedrooms left but they are selling fast.  We are here to answer any questions!  View the floorplans at http://www.parkviewatgreenbrier.com .


Parkview Condos are located at 500 Judah Way Chesapeake, VA 23320.  Located off of Greenbrier Rd next to Chesapeake City Park. Stop by this weekend 12-4 or call us to schedule an appointment during the week!
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            <pubDate>Thu, 12 Jan 2012 21:43:03 -0500</pubDate>
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            <guid>http://www.757realestate.com/blog/its-finally-open-deep-creek-park.html</guid>
            <link>http://www.757realestate.com/blog/its-finally-open-deep-creek-park.html</link>
            <author>757team@gmail.com (Mike &amp; Angie Nishnick)</author>
            <title>It's Finally Open!  Deep Creek Park</title>
            <description> <![CDATA[ 
There is a whole story to the building of Deep Creek Park in the Deep Creek section of Chesapeake,VA.  Let me sum it up in a few words.


Land left to city with intention it will be  used as a park.  X amount of years later, after many citizens asking "wheres our park?" , it is finally here.


Ok, now that you are all caught up, let me say its looking like a great park.  I went today to walk the trail that runs around the whole park.  Rain spoiled that, so I used my Droid X2 to take some awesome pictures to share.    The park is a great size.  It has athletic fileds that will open in the spring for the softball season.  Softball is a huge sport in Deep Creek.  It probably is everywhere else, but it is a big deal here.


There is also a playground, a picnic area, large dog park and did I mention the walking trail?


According to the city website, this is phase 1. (click to see phase 1 plan) Not sure what phase 2 will bring. Maybe some much needed soccer fields?  Maybe expanded picnic areas? 


 


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            <pubDate>Wed, 11 Jan 2012 09:58:06 -0500</pubDate>
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            <guid>http://www.757realestate.com/blog/location-priceand-the-right-agent.html</guid>
            <link>http://www.757realestate.com/blog/location-priceand-the-right-agent.html</link>
            <author>757team@gmail.com (Mike &amp; Angie Nishnick)</author>
            <title>Location, Price........AND THE RIGHT AGENT</title>
            <description> <![CDATA[ 
I get a little tired of hearing ' location and price sell homes'.  Not really.  You can have a great house at a fabulous price, but if you don't have an experienced agent it won't sell.  When I say experience, I am not talking about how many years they have held a license.  I am speaking about their marketing experience, specifically INTERNET MARKETING experience.


I met with a seller who said we were all the same, the MLS does all the work.  I had to break into the 'oh no he didn't just say that ' mode.  I brought up a list of sites the MLS pushes their data to.  Personally, it means nothing to me.  I am only concerned with Realtor.Com since it is the #1 website for buyers.   I showed him one home that was put there by the MLS, then showed him one of my listings.  The difference?  24 photos, 1 virtual tour, 1 video tour compared to 1 photos. 


Then I mentioned statistics.  If a seller can't see the results of the advertising, what's the point?  I send weekly or bi weekly statistics from the MLS, Realtor.Com, Zillow, and Trulia.  I heard an agent say 'that's too much work'.  Sad... very sad. 3% of the sales price is the average commission for an agent in our area,  they think it's too much work.


When selecting an agent, don't fall for the flyer that shows about 50 websites your property will be sent to.  Dig deeper and ask them to explain more.  Ask about social media. Not if they have it, but ask about social media marketing.  It's a different market and it takes internet marketing experience + sales experience to sell a home.


or.. take a short cut and give us a call to talk about listing your home. We'd love the opportunity to interview for the job.=)
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            <pubDate>Fri, 06 Jan 2012 10:48:54 -0500</pubDate>
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