Real Estate Information

Today is Winter Solstice - the day the sun shines directly over the tropic of Capricorn.  The sun is at its lowest and weakest, a pivot point from which the light will grow stronger and brighter. This is the turning point of the year.  There are many, many types of celebration of this day - click on this link for more information:  http://www.candlegrove.com/solstice.html

For me, it's always been a cleansing sort of day - reflecting back on the year's success and challenges, learning the lessons and cleaning my slate for a new year! 

I'm very proud of myself for staying in the real estate business with this very challenging market.  Brian Buffini and Company offers a coaching program, and I signed up for it in June!  We have two scheduled calls a month where we go over activites from the last call, come up with a plan for the next two weeks for the next call, and talk about successes and challenges I am facing.  I keep track of all of my expenses on-line (and establish business and personal budgets for more check/balance) as well as all my lead generating activites for my Coach to track right along with me.  And, BB & Co is really big on balancing the five aspects of our lives - business, financial, personal, spiritual and family!  So, Krista is basically involved in all areas of my life and I trust her with my heart, soul and my business!  It's all about working a referral based business and it's just a pleasure to be focusing on past clients that I've enjoyed getting to know!

My Father died August 1, 2008.  After suffering from Alzheimers the last 10 years, he fell and had massive bleeding around his brain which finally took him - a blessing for Dad, to be sure - just sad for the rest of us.  Add this to 6 closings about to fall apart and I was truly questioning if all of the stress of real estate was even worth it.  Again, my Coach came to the rescue and kept me on track and I will be forevery grateful.

As a result of our work together, I have joined both the Chamber of Commerce and Rotary International - two fine organizations I am very happy to be a part of, and it's a nice, soft approach to making new friends and possible contacts for future business.  I'm more comfortable with this than meeting someone and inviting them to lunch to listen to me talk about doing a referral based business for an hour!  :-)  I've also joined Art Berkeley and it's a wonderful way to keep me painting with watercolors to show in the various events they have around the county throughout the year.  All three of these organizations are keeping me and "my face" out there, and that's what it is all about!

My husband, Jim is retired and I could not do what I do without his love and support.  He's always ready to help in any way that he can, and listen to all the bazaar things that happen on a daily basis!  And when all is said and done - he can still make me laugh until tears roll down my face! 

We've had some challenges with my Mother-In-Law - she's been in a retirement home and after having several strokes, has had to move to the next level of care.  She recently needed to have gall stones removed and is currently in the full nursing home side of the facility - hoping she will regain her strength and stability and be able to go back to the mid-level.  There's a great poem about "the Golden Age", but I won't quote it here...just not much fun to get old. 

I'm so very grateful for all of the clients who have come into my life.  Our time spent together from the beginning to the closing table is so intense and I get to be a part of their lives and get to know them pretty well during the process.  We've had many good times, many great laughs, and sometimes even cry together.  It's a pleasure to keep in touch with them on a regular basis.  My goal is and always has been to take such good care of my clients that I am their Realtor for Life - and they can't wait to tell their family and friends about the good service I gave them! 

On the personal side, diet and exercise ALWAYS seem to be on my list of challenges.  Such a roller coaster ride and just can't be good for my body.  I don't go up to the extremes that I used to, but still am struggling to stay within 10 pounds of ideal weight.  And when I start the day with exercise, I'm on top of the world - you'd think I'd just gladly do it each day!!! 

So, it's been a great year - so much to be grateful for - and every day I continue to grow and learn!  What does my crystal ball say for the market in 2009???  It's still pretty cloudy - waiting for more of the implementation of the bailout, hoping the big 3 auto companies will land on their feet - interest rates keep dropping and if banks are truly going to help people hold onto their homes and get this market stabalized, inventory down, and pricing solid, it will be a very good year!!!  New President, "new" cabinet - who knows!!! 

I'm ready, willing and able to deal with Buyers and Sellers of all types in 2009!  If I can help you, your friends, or family - please don't hesitate to call me!  304-596-5500!

Happy Solstice!

Andrea

from our house to yours....

May your home be filled with the love and laughter of family and friends - and may all your dreams come true in 2009!  Merry Christmas and Happy New Year!!!

Andrea and Jim Burke

So when is the last time you were in the Art Centre???  Besides being a fabulous old building, this time of year the gift shop is open and they are featuring many beautiful local artists with their artwork for sale!!!  And, it's affordable!  Here are some pictures to give you some ideas of what is available:

If you've not been downtown Martinsburg lately, please make it a point to make it a special part of your day - you won't be sorry!  The Festival of the Trees has been spread out from the Art Center and most of the trees are located in various store fronts downtown!  Bidding is open until 12/5 so you still have time to participate.  Here are some pictures:

The streets are decorated beautifully:

There is even a Santa's Workshop!  Bring the "kids" and come see Santa!

Here is the official Christmas Tree for Martinsburg - in front of the Public Library:

There are many, many fabulous stores downtown - support them this year by making this your first place to stop for Christmas gifts! 

Happy Holidays!

Andrea

All we hear on the news is doom and gloom, the sky is falling, and we're headed for another great depression.  It's just NOT true!!!

There are 72 million households.  24 million of those own their homes free and clear.  48 million have mortgages - and 97.2% of them are NOT in foreclosure or headed in that direction.  93.7% are current! 

So - yes, restaurants are in trouble as families are eating at home more.  We are having to keep our cars for more than three years.  And we may have to wear the same outfit twice!  Is that so bad to live within our means???  NO!!!!!

This information all coming from a recent Brian Buffini Turning Point Retreat I just attended in Richmond, VA recently.  Predictions for next year are going to be very similar to 2008.  Economics is based on supply and demand - so is real estate.  We have an oversupply of homes right now, but in three years or less we will have a shortage again - so the pendulum will swing and it will again be a Seller's Market.

What does this mean for you - IT'S A GREAT TIME TO BUY!!!!  If you, your family or friends are considering buying a home, I would be honored to be of service!  Call me anytime 304-261-8517 so we can invest in your future and increase your long-term wealth!!

Sincerely,

Andrea Burke

I will have some artwork at this show, along with many other artists!  Come check us out!!!  Here is more information for you about Art Berkeley:

I am a proud new member of Rotary International here in Martinsburg.  As a new member, I was asked to give a biographical speech about myself as an introduction to the group.  I had so much fun putting it together, I thought I would share it for those of you who might be interested.  Please click on the following link:

http://www.visualtour.com/show.asp?T=1687768

Thank you,

Andrea

Definition of a short sale according to NAR:  "short sales are defined as a transaction where title transfers; where the sales price is insufficient to pay the total of all liens and cost of sale; and where the seller does not bring sufficient liquid assets to the closing to cure all deficiencies". 

When you see a listing that says "potential short sale" or "third party approval",  the price that is on the listing is a price that the Seller is hoping will attract buyers - it does NOT mean it's a price that the bank is willing to accept. 

Listing Agents are supposed to change the status from active to CONT/NO KO once an offer has been accepted by the seller and EMD given to the listing brokerage.   However, many are still showing them as active and submitting multiple offers to the bank.  So, when we have Buyers interested in a potential short sale, we need to first call and see if an offer has been submitted to the bank for third party approval.  And if it has, we contact the compliance manager for our multiple listing service and notify them of the violation.

In our brokerage, we use a special addendum when writing a sales contract on potential short sales that clearly spells out what a short sale is and allows the Buyer to establish a timeframe for how long they are willing to wait for response from the bank.  45 days is the very MINIMUM it will take - sometimes it's up to 6 months!

Some banks allow the Sellers to submit the hardship paperwork upon the listing of the property.  This saves a HUGE amount of time in the process down the road.  Other banks will not allow any sort of communication until an offer has been received, and then the long process begins.

Depending on the circumstances of the hardship, some banks will forgive a portion or even all of the balance due between sales price and loan amount.  Other times a note will be written at the time of closing for the entire balance.  Not all potential short sale scenarios are accepted by a bank - if it is an investment property and the Seller has other assets, they may require them to liquidate and pay the difference! 

I know that Buyers today are looking for a GREAT DEAL, but it's not always found in potential short sales.  Often they wait for a very long time for an answer from the bank and get extremely frustrated in the process, finally get out of it and are so angry they will NEVER submit another offer on potential short sale, and often blame their Agent as well. 

If you have  a LOT of patience and are in a living situation where you can stay for an indefinite amount of time, they may be worth your while.  But if you are about to become "homeless" as lease is up, your house is about to be sold, etc - this is NOT a good idea!!!  Foreclosures are priced below market price and usually can close within 30 days like a normal transaction.  And prices have come down to the bottom on resale homes, and they can certainly close within 30 days as well.

If you have any questions, please don't hesitate to call me 304-261-8517 - or send me an email ask4andrea@mris.com.  I have represented both Buyers and Sellers on short sale transactions and will give you honest answers, as always!

Take care,

Andrea

My Mother-In-Law is in a nursing home near Philadelphia - we go up to visit at least once a month and get her out of there for change of scenery - and she LOVES it!  This weekend we took her out to the Amish Country - on route 30/340 between Philadelphia and Lancaster.  If you've not yet been there, its wonderful!  Less than 180 miles from Martinsburg!  The farms are so pristine, their craftsmanship is unbeatable!  Many of their handcrafted items are for sale in the little towns.  They do ride horse and buggies still - just like in the movies - and lead such a pure, clean life!  Here are some pictures just for fun:

They have many tours available of their homes and farms to get a feel of how they live their lives!  And they have many fabulous restaurants with wonderful home-made food! 

Check it out - and if you do, send me a note and let me know how much you enjoyed it!