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All Forum Posts by: Tanya S.

Tanya S. has started 2 posts and replied 115 times.

Post: Feedback Requested From Agent/Investors in DC/MD/VA

Tanya S.Posted
  • Rental Property Investor
  • Arlington, VA
  • Posts 121
  • Votes 46

I was with Fairfax and switched to Keller.

Post: MLO in Northern Virginia

Tanya S.Posted
  • Rental Property Investor
  • Arlington, VA
  • Posts 121
  • Votes 46

@Brady Fox I did a seller financed deal in 2016 with a NoVA owner and still own the property today. The former owner does not have an intermediary service the note. I just set up a direct deposit that debits to his personal bank account on the first. We worked everything out with a standard contract and addenda from the NoVA realtor's association. This is his only seller finance deal in VA, but after I proposed the idea to him, he said he did similar deal for a property he owned in Florida. I am not a lawyer, but I had read somewhere that if you originate three or less loans in a 12 month period, the seller financer is not considered a mortgage loan originator, in which case Dodd-Frank would *not* apply. Worth looking into.

Post: Selling rental in high price market

Tanya S.Posted
  • Rental Property Investor
  • Arlington, VA
  • Posts 121
  • Votes 46

Hi Jim, I may be interested. What’s the best way to reach you?

Post: Selling rental in high price market

Tanya S.Posted
  • Rental Property Investor
  • Arlington, VA
  • Posts 121
  • Votes 46

Hi Jim, I may be interested. What’s the best way to reach you?

Post: HELOC on rental property

Tanya S.Posted
  • Rental Property Investor
  • Arlington, VA
  • Posts 121
  • Votes 46

@Aaron Smith Congrats! Non-warrantable condos are difficult indeed. Alas, I can't use PenFed for the same reasons you couldn't, so still looking around.

Post: New Real Estate Licensee - Brokerage Selection

Tanya S.Posted
  • Rental Property Investor
  • Arlington, VA
  • Posts 121
  • Votes 46

Hi Michael, I just switched from Fairfax to KW and am happy to share my experiences. Feel free to PM me.

Post: HELOC on rental property

Tanya S.Posted
  • Rental Property Investor
  • Arlington, VA
  • Posts 121
  • Votes 46

@Aaron Smith Curious if you ever figured out a way to do this without refinancing?

Post: Looking for a good (local) property appraiser - Arlington, VA

Tanya S.Posted
  • Rental Property Investor
  • Arlington, VA
  • Posts 121
  • Votes 46

@Russell Brazil So true!!! Guilty as charged. 

I still owe you a lockbox btw. Can you believe Pepco still hasn't given us the green light for the electrical? Ugh.

Post: Looking for a good (local) property appraiser - Arlington, VA

Tanya S.Posted
  • Rental Property Investor
  • Arlington, VA
  • Posts 121
  • Votes 46

In Arlington, you will get your price. I put an offer on a home I wanted here, and my offer was $100k over asking. I didn't get it. Winning offer was $125k over ask. List price was $650k - way under market for that particular home. They had 13 offers. 

In this  particular case, the price was WAY off, and it wasted a lot of people's time and money (I'm thinking home inspections, which are expensive). $25-$50k over ask is definitely not overboard and I see homes that are worth it sell that much over ask routinely. 

It's funny - as a realtor, I know intellectually that I will get a better price at the end by pricing low and getting maximum exposure, but when I sell my own homes, I have all this anxiety that it will sell for that lower price. 

Remember that this is only one strategy to sell a home, and you are in the driver's seat. If you don't want to employ that strategy, you're the boss. Tell your realtor that you'd prefer a strategy where you list more closely to market value. 

Generally speaking, the statistics in Arlington predict that your realtor's strategy *may* net you more, but you're the one that has to be comfortable with it and it's your home, so do what works best for you. 

Post: Looking for a good (local) property appraiser - Arlington, VA

Tanya S.Posted
  • Rental Property Investor
  • Arlington, VA
  • Posts 121
  • Votes 46

Agree with @Dan Weber. Get some other opinions. Also, what reasoning is your realtor giving for selling at that price? 

I've bought and sold several homes in Arlington for myself and for clients and am also a realtor here. I honestly wouldn't stress too much about a lower list price in Arlington. As long as your home has kick @$$ marketing which highlights the marble and all of the high end upgrades, you will have a ton of potential buyers and you will receive offers that reflect what the market thinks your home is worth.

The inventory here is so tight right now that if your home is amazing and priced aggressively (i.e. low), you will likely get multiple offers. Is this your realtor's strategy perhaps? Sounds like there is a communication issue between you and your realtor. I would sit down and have a heart-to-heart and be totally upfront about your concerns about the price, so your realtor has a chance to address them.

Sending you a PM with contact info for a terrific local appraiser.