In a difficult housing market, buyers and sellers rely upon good, solid real estate counsel to close deals. Many properties in the Virginia real estate market have lost value over the last two years, and sellers are faced with the prospect of short sale or foreclosure.
Elaine VonCannon, a REALTOR with Coldwell Banker Traditions in Williamsburg, is providing buyers and sellers solid solutions and additional help in the sale or purchase of a home to make the transition easier in this climate. VonCannon says, “In the current market, in most cases I have provided a free one-year home warranty to home buyers and home sellers.”
To make certain pricing reflects what an appraiser would price the property for, she also offers a free Current Market Analysis to buyers and sellers. “I will continue to provide complimentary CMAs and home warranties until the real estate market is stabilized,” said VonCannon. Buyers in this real estate market want assurance they have little or no out-of-pocket home repair expenses during the first year of home ownership. Sellers need to be listing their properties within the guidelines of the CMA.
To complement VonCannon’s residential and commercial real estate business, her business partner, John Starke, offers financial and investment services. Starke is offering VonCannon’s clients a free asset evaluation. Some other services he provides include insurance, long-term care insurance, estate planning and retirement planning.
In many areas of the United States, including Southeastern Virginia, the housing market is nearing bottom. According to an article by the Wall Street Journal in November 2011, “Bank of America Merrill Lynch economists expect the foreclosure process to speed up in nonjudicial states next year, with liquidations peaking in 2013. This is partly why they expect home prices to drop another 8% on average nationwide over the next 18 months before bottoming.”
Currently, property is a good value in several Virginia counties. Investment is highly recommended in real estate in Central Virginia, the Northern Neck, Hampton, Newport News, James City and York Counties. This is mainly due to price reductions over the last two years in these geographic areas.
Elaine VonCannon joined Coldwell Banker Traditions in 2011 because the real estate agency was expanding, and had a reputation for delivering the best client service in Williamsburg, Virginia. VonCannon has built her real estate business model on customer service, so Coldwell Banker’s reputation dovetails nicely with her philosophy. This includes keeping in touch with clients, past and present, returning phone calls promptly, and showing homes in the evenings and on weekends and holidays.
Elaine VonCannon believes there is no magic bullet for selling or buying a home. The buyer and seller need to have the right agent who understands the timing of contracts and is a good negotiator. A REALTOR is preferred since he or she will abide by the code of ethics.