It's a great time to buy!

Look at this chart of mortgage rates over the past 30 years. With rates predicted to rise, and plenty of inventory on the market, this is a wonderful time to buy a home! A rare combination of a teriffic selection of homes and low rates is available right NOW. Call 540-966-5700 and speak to a professional at Long & Foster in Roanoke.

Home Staging 101
by Becky Barber
"Staging" is one of those words that suddenly appeared in the vocabulary of real estate professionals and home owners several years ago and there are a lot of misconceptions related to the term. Home staging involves the same commonsense advice that real estate agents have been giving sellers for decades -- paint, clean, and de-clutter -- but true staging goes a step further in preparing the seller's home in a way that showcases it so that home buyers can visualize themselves living there. True staging is target marketing that tailors each house individually to look "irresistible" to the maximum number of buyers. There is no tried and true formula that works for every house.

In most markets, home stagers are paid professionals hired by either the listing agent or the home seller. Many are paid $100 or more per hour for their services but a well-staged house can bump up asking prices 2% - 10% in a moderate market.

As a former professional interior designer, I can create an environment in your home that will guarantee you top dollar for your home and as your listing agent, my services are offered at no cost! I can use things you already own in a new and fresh way or we can decide together on a few well-chosen purchases which will enhance your present home and can be taken with you to your new home. Either way, you will end up with an updated look and the potential for a quick and profitable sale.

Call me for an appointment and let's talk about your specific situation. You'll be amazed at how a fresh eye can turn your home into a showplace that buyers will be fighting over!

Becky Barber
Long and Foster REALTORS
Roanoke/Botetourt Office
1638 Roanoke Road
Daleville, VA
(540) 529-1028
becky.barber@longandfoster.com
Licensed in Virginia
Equal Housing Opportunity

100 Newest Home Listings

Want to see the 100 newest home listings in the Roanoke Valley at any given time? Use this link! Questions? E-mail me, I'd be happy to help.

THE LONG & FOSTER COMPANIES®
ANNOUNCES SPECIAL HOMEOWNERSHIP
PROGRAM FOR PUBLIC SERVANTS

Program Offers Special Financing and Unique Real Estate Services To State and Local Police, Firefighters, Military, School Teachers, and Certified Healthcare Providers:

The Long & Foster® Companies, comprised of Long & Foster® Real Estate, Inc., Prosperity Mortgage® Company, Long & Foster Insurance Agency, Inc., Long & Foster Settlement Services, and Home Service Connections®, have launched a unique home buying initiative called the “HELPING THOSE WHO SERVE” Homeownership Program . This beneficial program is led by Long & Foster® Real Estate agents who have teamed up with Prosperity Mortgage® loan officers, Long & Foster Insurance agents, our many Prestige Partners® settlement services, and our Home Service Connections® group to help vital public servants purchase their first homes or move up to a larger home.

Our public servants are very special members of the community. They are our neighbors, our community leaders, and our friends and include: state and local police, firefighters, military, school teachers, and certified healthcare providers. The many discounts and special financing product will be offered to public servants purchasing a home throughout Long & Foster’s seven-state Mid-Atlantic region with a ratified contract between November 10, 2006 and March 31, 2007.

Long & Foster® Agents to Partner With Prosperity Mortgage® To Offer Public Servants First Time Or Move-Up Homeownership Opportunity.

A major component of the “HELPING THOSE WHO SERVE” Homeownership Program is a series of community home buying seminars such as this one, spearheaded by Long & Foster® Sales Associates who have teamed up with Prosperity Mortgage® loan officers. Together, they will show our region’s public servants how they can afford to buy a home in the communities where they work.

Statistics show that many consumers are entering public service professions and are unable to purchase a home where they work. By using a Long & Foster® Sales Associate and by obtaining an advantageous mortgage from Prosperity Mortgage®, homeowners insurance from Long & Foster Insurance, and settlement services through one of Long & Foster’s Prestige Partners®, the homebuyer will get:

· A certificate worth $500 credit at closing
· Up to 100% financing
· Flexible credit guidelines
· Non-traditional credit profiles
· Expanded qualifying ratios up to 50%
· Discounts on a variety of Home Service Connections® vendor services for moving and storage

Steven Underwood, a home mortgage consultant for Prosperity Mortgage®, Long & Foster’s mortgage affiliate said, “There are many public servants who are first time buyers who are actually qualified to purchase a home but don’t realize it. The same is true for those moving up to a larger home. We want to help them enjoy the benefits of homeownership.”


“Homeownership initiatives such as this one dovetail perfectly with Long & Foster’s mission of making homeownership available to all potential home buyers,” said Dolores Farmer of Long & Foster’s Roanoke North. “This is an example of how a full service company like Long & Foster can work together with its many lines of business and with its agents in the field, to deliver an attractive and total solution to buying a home,” Farmer said.

Wes Foster, founder and Chairman of The Long & Foster® Companies said, “We look forward to serving those who serve us.”

Information on the products and services available through this initiative is available from the Roanoke North Long & Foster® office at (540) 966-5700.

Real Estate in the Gulf Coast


On January 1, before coming to Long and Foster as a new agent, I made a trip to the Gulf Coast with some members from our community. Like many Americans, my response to the disaster of Katrina and the events that followed were horror, disbelief, sorrow, helplessness, and anger. While most of us have experienced great loss and crisis in our lives, it is hard to imagine the enormity of such a catastrophic event. Some lost their lives, an incomprehensible number lost their property, their homes, their possessions, even their whole communities.
The week I spent in Waveland, Mississippi was an experience that will stay with me for the rest of my life. I think the thing that affected me most profoundly was the realization that were are all connected to each other in ways that are fundamental. We all have the same needs for shelter, for a place of comfort and safety, a place of community. Most of us spend the better part of our lives working to provide these things for our family and ourselves.
It would be foolish to deny that most of us come to real estate with the expectation of making money, and lots of it. Be we also have an opportunity to connect with people, to serve, to do the very best we can in assisting people at a time that is often a life-altering juncture in their lives. It seems to me that these are the opportunities and challenges that, if well met, will contribute the most to our success.

Linda Atkinson Huffard
Long and Foster Real Estate
Roanoke/Botetourt Office
1638 Roanoke Road
Daleville, VA 24083
(540)-966-5700
Licensed in Virginia

The Future is Now!!!

I have been in the real estate business for 15 years, and when I hear people say ---someday ---I am going to buy a house or I know this house is not what I need, --- someday---I am going to put it on the market. I have seen those people wait – wait and wait till its too late. They can’t do steps, the yard is too big and they have to pay to have it done, you have to hire a cleaning person, and on and on.

I think the biggest mistake is the person that says – I am going to save so I can pay for a house.

People that do the best job of building cash value in houses do a great job of keeping their house in good condition – including the yard.

The best home investors take their built up equity and invest it in a more expensive house several times before they retire, so when they are no longer working they have a great home in a great neighborhood instead of a old house in a old neighborhood. They keep moving up.

Real estate is one of the best investments that most people make in their lifetime – everyone has to live somewhere and if you are going to pay someone rent it should be – you!!

If you are thinking about selling or buying remember – to call me.

Tommy Helm , GRI, CRS
Long & Foster
540-520-1174
Licensed in Virginia

A Unique Approach to Marketing
Roanoke North agents add new tools



Our agents use many powerful marketing tools: the area's only network TV real estate show, the highest quality magazine, and a comprehensive local website. Now four new marketing tools have been added to the traditional methods of marketing homes by agents at Long and Foster's Roanoke North office.

• Business Cards for homes: Each time one of our agents lists a property for sale, they now have the ability to reprint their business cards to feature that home. (See sample, above.) The cards are printed in one business day, and ready to stock in the home, provide to the Seller, and distribute to contacts. Many times a buyer will come from the owner's friends, neighbors, business associates or relatives, and handing out business cards for the home is a great way to spread the word. Your Roanoke North agent will provide these cards to you free of charge.

Market Updates: We can provide comprehensive statistical reports specifically about sales in your subdivision in or around the Roanoke Valley. These will be mailed every quarter in 2006, free of charge. Call 966-5700 and ask for Trina if you're interested in receiving them.

• Multimedia Marketing: Roanoke North agents have access to a wide variety of specialty tools that enable them to promote homes with cutting edge technology. These include the ability to create moving pictures with background music which helps present the home in it's best light. See an example (speakers on, please.)
• Blogging: It's all the buzz, and the Roanoke North office is using this technology to supplement traditional marketing avenues. Our Blog is featured in the Roanoke Times.

Our agents stay on the cutting edge, using their technological expertise to add extra value for the owner, each time they list a home.

Roanoke Star Ornament Sold to Raise Funds for Local Charities

The limited-edition (1,000) Roanoke Star Ornaments commissioned by the Community Service Commitee of the Roanoke Valley Association of Realtors are available for sale. These ornaments are great for collecting or hanging on the tree and are wonderful presents for family, friends, and clients. The brass ornaments are approximately 2 3/4 inches in diameter and are gift boxed. The front of the star is red, white, and blue and is 3-dimensional. Proceeds from the sale of the ornaments go to RVAR-supported charities: Bradley Free Clinic, Center in the Square, Rescue Mission, and SPCA.

The Roanoke Star Ornaments are made by ChemArt of Lincoln, Rhode Island, the premier designer and manufacturer of photochemically-etched ornaments and collectibles. For the last 25 years ChemArt has made the White House ornament for the White House Historical Association and will make over one million White House ornaments this year. ChemArt was featured on a December 6 segment of Made in America hosted by John Ratzenberger on the Travel Channel.

Ornaments are $15 plus tax ($15.75). You can pay by cash, check, or credit card. To purchase an ornament, contact me on (540) 797-3108.

Gus Fargarson
Long and Foster Real Estate
Roanoke / Botetourt Office
1638 Botetourt Road
Daleville, VA 24083
(540) 797-3108

Licensed in Virginia

DEMAND FOR HOMES IN ROANOKE VALLEY IS STILL STRONG
The analysis of home sales I recently completed shows the demand for homes in the Roanoke Valley is still strong. The number of single family homes (including condominiums and townhouses) sold and the average and median prices of homes sold during the first three quarters of 2005 show large annual increases.

The average price of a single family home sold in the Roanoke Valley during the first three quarters of 2005 was $204,267, up 14.5% from the comparable period in 2004. The median price of $156,000 was 8.3% higher than in 2004. (The median price is the price where half of the homes sold for more and half sold for less). The number of homes sold rose to 4,642, an increase of 9.4% over 2004.

Gus Fargarson
Long and Foster Real Estate
Roanoke / Botetourt Office
1638 Roanoke Road
Daleville, VA 24083
(540) 797-3108
Licensed in Virginia

Improving your Credit

One of the biggest components of qualifying for a new home is CREDIT. Credit scoring has been around since the 1950's, and Credit Bureau Scores-scores based solely on credit bureau data-became widely available in the 1980's. Credit bureau scoring is a statistical means of assessing how likely a borrower is to pay back a loan. The score measures the relative degree of risk a potential borrower represents to the lender or investor. It is not a measure of a borrower's income, assets, or bank account, although those and other factors are still considered by lenders and investors, independent of a score.

Fair, Isaac Credit Bureau Scores (FICO), range from approximately 300 to 850 points, and are available through the three national credit data repositories (Equifax, TransUnion, and Experian). The higher the score the less likely an individual is to default on a loan. Everyone should look at their credit scores approximately once a year to ensure total accuracy. Consumers wishing to dispute items on their credit files with the credit respository can do so through the following numbers: Equifax (800) 685-1111, www.equifax.com; Experian (888) 397-3742, www.experian.com; Trans Union (800) 916-8800, www.transunion.com.

Credit scoring is based on the following:
35% Payment history-how well you pay your bills.
30% Balances-how high your credit card balances are compared to limit.
15% Credit history-age of oldest trade line and the youngest trade line.
10% Type of Credit-too many credit cards or finance company installment debt.
10% Inquires-how many times credit has been checked.

Items stay on your credit file for 7 years. The only exception is a Chapter 7 Bankruptcy which remains on a report for 10 years. Some things a consumer can do to improve the credit rating is as follows:
* Always make payments on time
* Avoid inquiries (i.e.: loan shopping) excessive inquiries will diminish rating.
* Avoid borrowing from so called "HIGH RISK" lending companies (Finance company)
* 90-day/"Same as cash" accounts count the same as open revolving accounts.
* Credit card balances exceeding 35% of available credit.
* Legal actions (i.e.: judgements, collections & bankruptcies) harm credit ratings.
* Do not consolidate debt onto one or two cards and close the rest.

Credit rating can be thought of as a snapshot of an individual's changing credit record. As derogatory data in the credit report gets older, it has less influence on the score. A missed payment from four years ago will not count as much as a missed payment that is six months old.

If an individual thinks they have less than perfect credit they should look to improve their score months before they think they want to purchase a home. There are so many mortgage programs out there now but the better an individual's score the more likely they can get the dream home they have always wanted.

If you have questions pretaining to credit or any type of financing solutions, please don't hestitate to give me a call.

Steven Underwood
Home Mortgage Consultant
Prosperity Mortgage Company
M8646-011
1818 Electric Road
Roanoke, Va 24018
(540) 725-1620 Roanoke Office
(540) 966-6128 Botetourt Office
(866) 799-3295 Faxcom
steven.d.underwood@wellsfargo.com
http://www.homeloans.com/steven-underwood

Interested in Selling Real Estate?

LONG & FOSTER OPENS NEW TRAINING ACADEMY IN ROANOKE

Long & Foster® Real Estate, Inc. is pleased to announce the opening of its new training academy located at 3912 Electric Road, SW.

The Sales Associates Education Resource Center provides the Principles and Practices of Real Estate classes, which are the required coursework for licensing and secondary training for Long & Foster’s newly licensed sales associates. Class offerings also include continuing education classes, Certified Residential Specialist (CRS) designation courses, nationally renowned guest speakers, seminars with a focus on professional topics and skill building seminars.

Long & Foster® Real Estate, Inc. is the largest privately-owned real estate firm in America. The firm has 220 residential real estate sales offices throughout Pennsylvania, Maryland, Virginia, the District of Columbia, Delaware, West Virginia, New Jersey, and North Carolina, with more than 15,000 Sales Associates and annual real estate sales for 2004 of $39.1 billion. Sales for all the Long & Foster Companies totaled $56.3 billion for 2004.

If you'd like more information, and plan to sell real estate as your full-time career, call Dolores Farmer at 966-1839 or 520-5444.

Loan Pre-Approval Benefits

by Kimberly Michael

The first stop potential homebuyers should make is at the lender’s office. Pre-approval is an enormous benefit for the client and the realtor. There are so many programs available and it is important to find the best one for the client before the contract is written.

The advantage of pre-approval is knowing exactly which of the many financing options is right for the homebuyer, allowing them to maximize their purchasing power. Many homebuyers find that they can buy more house than they thought they could by exploring their options with a lender for just a few minutes.

Pre-approval does not take long and can help make a real estate transaction go smoothly. It gives the buyer and the REALTOR more negotiating power when the offer to purchase is written. The search for the perfect home will be a more relaxed experience knowing that financing is in place.

Kimberly Michael
Home Mortgage Consultant
Prosperity Mortgage Company
M8646-011
1638 Roanoke Rd. Suite 100
Daleville, VA 24083
540.966-6128
Tel 540.966-1855 Fax
kimberly.b.michael@wellsfargo.com
Equal Lending Opportunity

One Family or Two!
Are you looking for the perfect home for two families? Perhaps a home to accomodate an in-law, returning college student or even teens still at home? Well look no more!! This home has a lower level absolutely ideal for any of these, completely finished, separate entrance and extra parking! This North County location is convenient for schools, shopping, airport or interstate access. Call me for more details.

Ginger Vail, REALTOR
Long & Foster
1638 Roanoke Road
Daleville, Va 24083
(cell) 540-520-4374
e-mail gingervail@cox.net
Licensed in Virginia

Getting Ready to Sell Your Home
By Terri Wright

Probably one of the most important yet most over looked aspects of getting a home ready to market is to go over your home thoroughly and make repairs as necessary. Today most Buyers are being encouraged by their REALTOR to have a Home Inspection.

Sometimes small items such as a loose "switch plate cover" are not fixed prior to the inspection. Once an inspection has been completed, many contracts require that a licensed electrician come out to fix the problem. Therefore, it would be your benefit to have small items fixed prior to marketing the home. However, please remember that any significant repairs to the structure, the heating and cooling systems, the plumbing system, the electrical system, and the roof should always be done by a qualified professional and/or licensed contractor.
Terri Wright
Long & Foster, REALTORS
PO Box 1200 Daleville, Va. 24083
540 966-5700-office
540 871-3927-cell
Licensed in Virginia Website: http://www.terriwright.net/

It's a Good Time to Consider Selling
by Dolores Farmer

Economists often characterize the housing market as a "buyer's market" or a "seller's market" by using a formula. They take the number of average sales in a month, and divide that into the number of homes currently on the market, to find the number of months of inventory available. If the supply is less than 6 months, it's a "seller's market" (favorable to sellers.) If it's more than 6 months, it's a "buyer's market."

I did the calculations for the Roanoke Valley today, and arrived at a supply of 4.3 months, which means the market is favorable to sellers. While not many people want to sell during the holiday season, it can still be a good time. E-mail me if you'd like more market statistics, or if you'd like a detailed report specifically for your neighborhood.

What is a contingency?

Most purchase agreements have "contingencies" in them, to make sure a party only has to perform if certain conditions are met. Here's some help understanding what certain contingencies could mean in a purchase agreement for a home: (These are generalities. Read your purchase agreement, and ask your agent and/or attorney any questions you may have.)

• Financing: The buyer can back out if their loan is not approved, as long as the buyer made their best efforts to obtain the loan. Often, the seller can back out if the buyer's loan is not approved within a specified time period.
• Subject to the sale: A buyer or seller can back out if the buyer's current home fails to sell within a certain time limit.
• Title: The buyer can back out if the Seller can't deliver clear title to the property.
• Inspections: The buyer can back out if specific items in the home inspection are not in safe working order, or if the buyer and seller do not agree on remedies to the problems revealed in the inspection.
• Contract review: The buyer or the seller has the right to have the contract reviewed by (typically) their attorney before the sale can move forward. Not a commonly used clause, but useful in some circumstances.

These are just a few of the contingencies you might see; there are many others.

Roanoke a great place to retire

Welcome to the Roanoke, Virginia real estate blog. Roanoke is a wonderful place to live and work. Just look at the list of "Cities Ranked and Rated." Roanoke is #11, out of 331 areas!

1. Charlottesville, VA
2. Santa Fe, NM
3. San Luis Obispo-Atascadero-Paso Robles, CA
4. Santa Barbara-Santa Maria-Lompoc, CA
5. Honolulu, HI
6. Ann Arbor, MI
7. Atlanta, GA
8. Asheville, NC
9. Reno, NV
10. Corvallis, OR
11. Roanoke, VA
12. Portland-Vancouver, OR-WA
13. Raleigh-Durham-Chapel Hill, NC
14. Bryan-College Station, TX

(Roanoke has also been named one of the Top 15 places to retire in the US.)

I have been in real estate in the Roanoke Valley since 1985, and this is where I'll share the ins and outs of the Roanoke real estate market.

Dolores Farmer
Long and Foster Real Estate
Roanoke/Botetourt Office
1638 Roanoke Rd.
Daleville, VA
(540) 966-5700
Licensed in Virginia
Equal Housing Opportunity