Real Estate and Horse Country Life at Lake Anna

This is an informational piece about updating your home to sell or to stay. As a real estate agent, I have recommended to clients many times that they do some inexpensive updates to help sell their homes at Lake Anna and the surrounding areas. Sometimes they do, sometimes they don’t.  If not, be prepared  the price should be adjusted accordingly. Well, along the lines of “physician, heal thyself” I decided to install a glass mosaic backsplash in my kitchen. These things run rampant on HGTV and DYI TV shows. So, here’s how to do (or not to do) it.

1. First I bought a large amount of 1 in. recycled glass mosaic tiles (in black and gray) from Lowes after NOT measuring carefully. Then, after laying them out, I determined I was at least 4 square feet short. Went back to Lowes- only had 3- called around and found some more at another store in another direction. Tiles- $3.98 each. 3 trips to Lowes @ approx. 40 mi. each roundtrip- priceless. I also had a conversation with the nice man at Lowes who told me what “accessories” I would need and purchased them. After buying the additional tiles, the whole collection sat in my dining room for approximately 6 months waiting to be installed.

2. I decided I needed to get them out of the dining room so started the project. After giving up on using the level, I proceeded to slap adhesive on the walls followed by the tile. I used a spackle knife to apply it and a thing that looked like Bubba teeth to prepare it (you make grooves and remove excess grout). This is where it got fun. You see, the kitchen portion of the house is 275 years old. You can literally set an egg down at one end of my kitchen and it will get itself to the opposite corner without legs. Needless to  say, the walls are not plumb nor even flat. I am not sure how the guys put up our cabinets except I remember it involved a lot of shims. Ditto for the granite countertops. Please note- if you are not going to lay tiles perfectly straight- DO NOT get black tiles with white grout as it tends to make it even more obvious. Dry overnight (or longer, in my case) or until your family asks when this project will finally be completed.

3. Back to project. Unless you are planning to complete this is 2 days (ha!), be prepared to get takeout, eat out and/or endure the rumblings of a family who is greatly inconvenienced and not very helpful. Once you have the tile all set up, it is time to grout. The lovely man at Lowes sold me unsanded grout that mixed with water using my drill and “egg beater” attachment (I think it’s a paint stirrer) in a bucket. Nowhere does it say how to make smaller batches or what consistency it is supposed to be.  Enter the internet. Consistency should be like cake batter. I can relate. Let me ask you this- have you ever smeared cake batter between tiny tiles on a wall? I tried using the “accessory” and ended up having to smear it in with my hands and then remove it with the spongy thing (a “float?”). It must get between the tiles. It also “plops” on every surface. Note- this stuff doesn’t keep so you will have to grout in one session or make multiple batches.

4. Now the fun part! After you take off the excess grout with the spongy thing- you clean it up with a sponge or wet cloth. This sounds easy. What they don’t tell you is that it leaves a white, cloudy film- on EVERYTHING!- and that this particular step needs to be done at least 5-6 times and shortly after grouting. Your counters, floors and cabinets will  also be covered as you strive to wipe off “spillage.”  It was kind of like the Dr. Suess book “The Cat in the Hat” only white, not pepto-pink.  I was thinking curse words that I didn’t know I used. Let’s just say some of them rhymed with bucket. Wow- with the grout I could really see how crooked the tiles are.

5. The realization comes too late that you cannot reinstall your outlet covers with the same screws that you removed as the thickness of the wall has exponentially increased and BTW  you cannot find the same diameter and type of screws in a longer length for love or money (another trip to Lowes). Needless to say, I have “jury-rigged” outlet covers.

6. Now that it’s done, I must say it looks pretty good- well, with all the countertop appliances, plate rack and canisters in place and as long as you don’t look too closely. Am I glad I did it?  Maybe. I know I’m glad to have all that stuff out of my dining room!

7. Project cost- around $100. Project time- probably 20 hours not including “layovers.” Added value? Maybe. Knowledge gained? Hire a professional! That goes for real estate agents as well as contractors.

Despite the media’s best efforts to convince us otherwise- property is moving! If your property is priced right, shows well and is correctly marketed, it should sell! I have been fortunate to move quite a few of my listings in the last couple of months, including some that had been on the market a while. Customers continue to be well-qualified and motivated. The biggest difference is that they really are “Internet savvy” and educated in what houses are selling for and what they are willing to pay. What this means is that buyers don’t really care about sellers’ motivation, what they paid, have invested in it or what they would like to get out of it. They are looking less emotionally and more as a property acquisition or investment- much as an appraiser does. Comps matter. It is still a buyers’ market.

I recently turned down a million dollar listing because the owner had unrealistic expectations. The house was gorgeous and showed well. Then add into the mix that she wanted to continue to rent it (vacation rentals) and have showings that worked around the rentals (!) and have a portion of my commission go back to the buyers’ agent as incentive for the buyers’ agent (!)- I decided it wasn’t worth my time or marketing dollars. I am assuming it is now some other agent’s problem. It may sell quickly- I mean everyone knows there are a ton of million dollar cash buyers out there who are just waiting to see this home via a virtual tour because they can’t schedule a showing around the renters’ and the buyers’ schedules. Right? And don’t forget, the buyers’ agent will really push it for the extra commission because they have “so much influence” on their buyers. Sarcasm intended. And this was on the advice of a “financial advisor” who, I’m sure, discounts his or her services on  the behalf of his client. More sarcasm.

There are agents out there who go for quantity not quality. In other words, if you throw enough properties on the market, some are bound to sell. Right? Do you really want to use one of those agents? Those type of  agents typically are not good about returning calls or sharing information with their clients because they are just too busy with all their listings. Can they get all their brochure boxes filled or do they even have a marketing brochure for the “curb” or inside of the house? Is their web-page up-to-date? I am amazed at the number of homes I have shown in nearly every price-range that don’t even have a simple marketing piece outlining some of the property’s key assets that include something as elementary as a plat of the property.

And then there’s the ” I want the listing at any price” mentality. Why? The agent feels that they may eventually talk the owner into reducing the price (called “chasing” the market vs. “setting” the market). Besides- there’s always that uneducated, mythical buyer who is willing to slap down the money because they love the house, without doing their research, right? And of course, the agent can influence the appraisal- right? NOT.

I treat real estate as a business. Does a doctor or a lawyer or other professional who offers a valuable service reduce his or her fees to get a client? I don’t think so. If I curtail my income by cutting the commission, which portion of my marketing efforts do you want to do without? What does that commission cover? Well, besides your marketing expenses for brochures, print media and Internet marketing- there are ongoing expenses for gas, continuing education, office space, equipment, phone, Internet, web development, MLS and association membership, Errors and Omission insurance and let’s not forget our broker’s portion. The really unique thing about real estate is that this compensation is not earned until your property closes. This means that you don’t pay a dime “up front.” How many successful  businesses run like that?

Bottom line is that if you want to hire a consultant who will give you a fact-based evaluation of your property, market it where buyers are “shopping,” provide you with feedback and suggestions and tweek those efforts ongoing where needed, I would love to talk to you.  If you want to set your own price, marketing strategy and outcome I recommend a FSBO (for sale by owner) or another agent.

Thanks for listening and call me for a free, no-obligation market value analysis.

As we spring forward into the Spring selling season at Lake Anna and the surrounding area I am excited for the opportunities for both my buyers and sellers! With many years of real estate experience, I have been asked what I thought about the market at Lake Anna and real estate in general. I have been hedging my bets. Finally, I can say I am optimistic!

What has caused this optimism? Well, for starters, sellers are becoming more realistic about their prices. Rather then worrying themselves about what their property was worth in 2006, they are starting to realize the buying power they have on the other side once they move their property. I do believe prices have bottomed out. There is less inventory than there has been in a while which should cause prices to rise, although not with the extremes we have seen in the past. Rather, most experts are predicting a much slower, more healthy growth.

Buyers, on the other hand have never had more buying power! Low prices coupled with low interest rates still make this a buyers’ market. What sellers are finally starting to realize is that if they are reasonable with their prices, they will recognize their increased buying power 0n the other end. This is a win-win situation. If, as the press says, lenders start to loosen their lending requirements even just a little, this should shrink existing inventory even more.

I have been fortunate to have listed several very reasonably priced waterfront homes on Lake Anna. If you haven’t already checked them out, you owe it to yourself to explore the opportunities before it’s too late. This could be the year you enjoy your vacation at your own lakefront retreat!

In addition, while there are still short-sales and foreclosures in the pipeline I believe they are also getting more scarce as more distressed properties are gobbled up by investors. Homeowners are also seeking more loan modifications or other avenues of keeping their properties including renting them. Lake Anna hasn’t seen too many of these distressed type of properties but there are still a few in the surrounding area.

I currently have a couple of listings that have great investor potential. One is a foreclosure and the other could have great rental potential at the price of an unimproved  lot!

I would encourage anyone thinking about investing in real estate whether for personal use or for profit (or both) to jump off that fence with both feet while you still can. I will be happy to help you on either side of your real estate transactions at Lake Anna or the surrounding areas of Louisa, Spotsylvania and Orange counties. And don’t forget to “spring forward” rather than falling back. Set your clocks forward one hour this Sunday.

Some folks may think that things slow down around Lake Anna in the fall but owners and visitors alike have plenty to do in this, my favorite season. One of the best times to be had locally  is to experience the Montpelier Hunt Races, an annual event for over 75 years held on the first Saturday in November. If fall foliage, local wines and beautiful horses set in a historic venue complete with a presidential mansion appeal to you, then this is your event. In case you didn’t know, Montpelier was home to President James Madison and his wife, Dolly. Owned until fairly recently by the DuPont family, it has been painstakingly restored to the state it was in when the former president lived there with his amazing wife. There is also a thoroughbred retirement facility also located on the grounds. More information can be found at http://www.montpelierraces.org/ . Montpelier is located in the Somerset area of Orange County just minutes from the town of Orange and nearby Lake Anna and is a great day trip even when the races are not on.

Grab a group of friends and pick up your tickets locally or online and get your tailgate on! This Saturday was a cool, crisp day which started with rolling into our infield parking spot and setting up our table complete with cornucopia centerpiece and candelabra. While we would never win the tailgate display contest, we did enjoy the benefits! Local wines from nearby vineyards played nicely into our day. The attire is varied from Carhart to Vineyard Vines with hats optional and cigars prominent. There is a hat contest, as well.  If you are not walking around with a cup or better yet, wine glass you are not fully appreciating the experience.

There are vendors with everything from art to hats to pet attire to Irish woolens and more. There are seven races during the day on the flat and over jumps with purses up to $40,000 and wagers on the side. Early on there are a Jack Russell Terrier race and tours of the mansion available.  And then there are the horse races- color, action, suspense and excitement. The jockeys and horses flying around and over the grass track is a sight that cannot truly be described but must be experienced.

Needless to say, a great time was had by all and I look forward to seeing you all there next year. If you need help to establish your “home base” at Lake Anna, let me know!

I can’t tell you how many times a day-week-month as a real estate professional- I am asked if the market is picking up. In my opinion, it definitely is. I am busier than I have been in a long time. I have well-qualified buyers who are actively looking to buy a home and sellers who are motivated to sell one. So what’s the problem? Buyers are much pickier than they used to be which is not necessarily a bad thing if they are reasonable.
   My experience indicates that they expect a lot more bang for their buck. This means two things to me. When it comes to “traditional” sales, sellers must be at the “top of their game.” That means that when your realtor says something needs fixed up, cleaned, decluttered or the like- it needs to be. You are competing for a small pool of qualified buyers that have no problem going down the road to find exactly the right fit for them in a large home market. We are sorry if this inconveniences you but you want to sell quickly and for top dollar, right? It’s worth it if your home isn’t exactly how you like it but rather how someone else can picture themselves living in.
   The second is that you are competing with short sales and foreclosures. You have to convince the buyer that your well-maintained home is a better value than a distress sale when they factor in repairs and replacements such as carpet, appliances and the like. If yours shows like a model home. the sad and sorry distressed home says “time, effort and money” to many potential buyers. However, if your home is dated and obviously needs a new roof- why wouldn’t they go for the bargain?
   I know this sounds obvious but for some reason, some sellers still don’t get it. I think some are still  living in a pre-2006 world. It may be some time before we have that type of market again.

In future blogs, I will discuss pricing and buyers.

As a realtor, I am usually so busy that I don’t have the time to enjoy the many things there are to do and see  around Lake Anna. With my 9-month old grandson (and his parents) visiting , we planned some local activities. There are so many to choose from! Since my daughter-in-law Julie is Park Manager at Steamboat Lake and Pearl Lake State Parks in Colorado, I thought we would go to Lake Anna State Park and she could give me her “professional” opinion as to how it stacked up. I hadn’t been for some time.

Our $4.00 daily (weekdays) parking fee gave us access and since we didn’t bring our horses and the beach was closed- that was the extent of our expense!
Julie, Erik, Peter and I had a nice time taking a 1-2 mi. hike on the pretty trails. They are not suitable for the stroller (only because of tree roots) but easy with a backpack. It was a lovely fall walk along the lake shore. I kept thinking how great it would have been on horseback.

There were a few other visitors fishing, making use of the boat ramp and the picnic areas but we hardly ran into anyone. Julie thought there were a wide variety of activities and the park was well-maintained. She was jealous of the nice sandy beach. With all the new amenities, it’s a great place to go even for full or part-time area residents. I am thinking about getting a life-time pass.

 There are various passes available including discounted and free (for disabled residents). You can check out the pass prices as well as all the amenities on their website. @ http://www.dcr.virginia.gov/state_parks/lak.shtml .  A free annual pass can be included with the purchase of either of the properties I have listed for sale directly across from the park at 6701 Lawyers Rd.  (manufactured home on 6.6 acres) and 6725 Lawyers Rd (log home on almost 7 acres already set-up for horses).

I pride myself on giving my clients and customers outstanding service. A lot of other real estate agents at Lake Anna and the surrounding areas do, too. Sometimes, I just need to vent. In my mind- here are seven deadly realtor sins:

1. Thank you for showing my listing. Now why won’t you respond to requests for feedback? How else can I convince my clients to paint that front door, mow the lawn or lower the price? I ALWAYS  respond to requests for feedback and try to put a positive spin on it in a format that can be passed on to your clients.
2. Agents who price listings too high to begin with in order to get the listing so that it gets stale on the market I know it’s a hard balance and sometimes the clients just can’t price it where it should be (or won’t) but know your market (as crazy as it is) and PULL COMPS!  But that’s OK, overprice it and I’ll get it later at a lower price when your listing expires.
3. Agents who ignore the showing instructions on the listing,  or just don’t bother to check them and end up looking foolish in front of their clients, and mine.
4. Out-of-area  agents who expect you to show their clients property since they live in No Va or Richmond, don’t have the same lockboxes, yada-yada and then want to represent their client in the sale (and collect their commission). They also do their clients an injustice by not knowing the area and the neighborhoods. I recently found a piece of land for a buyer listed by an out-of-area agent. When I called the agent, they had no plat, no soil work and no idea if there were covenants or restrictions. He actually asked me if there is city water (there wasn’t)! I went to the courthouse and pulled the information but that is a service that I feel the listing agent should provide for their clients if they are going to take a listing. There’s much more to taking a listing than putting it in the MLS and putting up a sign.
5. Empty brochure boxes or no brochures, especially on houses. This is not to say mine haven’t been empty a time or two- but not for weeks on end! If you really don’t want my client to remember your property then don’t bother with a brochure at all.
6. Agents who don ‘t leave cards. See #1 above- it’s common courtesy, especially if it’s a combination lockbox that we can’t trace.
7. And the worst one of all- agents who talk poorly about other agents to get the listing. Not only is this against the Realtor Code of Ethics, it’s just not professional.

Now, I’m not saying that most real estate agents are guilty of these sins because they are not. It has been my pleasure to work with a majority of professional, courteous and competent agents over the years and I do believe that the ones who are will still be here when the others have changed professions (again). As a potential client, you have a right to expect a high level of service from your agent. If you don’t get it, come see me.

Now I love the local eateries- Chicken Neckers, Lakeview Restaurant, Chelsea Jo’s and Tavern on the Rail. I admit I haven’t tried Anna Cabana yet even though my email address has been annacabana@mindspring.com since 1994! But sometimes it’s fun to venture outside of your comfort zone, particularly when it turns out so well.

 I am talking about our second visit to the Barbeque Exchange in nearby Gordonsville- probably 30-45 minutes from Lake Anna. I love Gordonsville anyway, with it’s mix of quaint old houses and historic downtown and there are a couple of restaurants there but one of the newest is The Barbeque Exchange and well worth the trip! Very laid back and very reasonable with some of the best barbeque and “fixins” we have tried.

 Check out their web page at www.BBQEX.com with pictures, menus, and more! We highly recommend their pulled pork although my husband likes the Hog Fire sauce while I prefer the QX Sweet (and spicy). He swears by the beer-battered onion rings and we all like the mac and cheese (creamy and homemade). The cornbread is sweet and moist but don’t take our word for it- try it for yourselves!

 P.S They do serve beer and wine and the desserts look incredible. Let me know what you think!