Harrisonburg Craigslist Rental Scam

I’m filling in for a fellow real estate agent while she is on vacation and fielded two strange inquiries today about a property she is helping sell.  Two people sent emails asking whether this 4-bedroom, 3-bedroom home in Harrisonburg is indeed for rent for $500/mo, as advertised on Craigslist.  It is not, and it is clearly a scam.  Be alert – here’s how it works:

  1. An advertisement is placed on Craigslist, soliciting inquiries for a home on the market at a “too good to be true” rental rate.
  2. Someone responds, and receives an answer like this:
    1. HiThanks for your e.mail, it is in [address omitted], Harrisonburg VA 22802pet friendly! LOCATION! – Impeccably maintained This Fabulous Property Better!! Great Opportunity! Outside is Great, inside needs TLC. Great views! New heat pump 7/11. Great remodeled home in established family neighborhood. Convenient to EMU and on city bike trail! Open floorplan with hardwood floors on main level. Partially finished basement, sunroom with hot tub, storage galore! New waterproofing with French drains-warranty conveys. Fenced backyard, cedar closet in basement, new windows and off street parking. ! A must occupy! and its for Immediate Occupancy.

      We wish for someone to occupy this space as i will like to bring to your notice that my husband who works with Schlumberger was recently transfered to England. We had to move some days ago with our 3 year old girl.

      We wanted to sell the place initially but due to the sharp fall in the price of houses recently, our lawyer adviced us to seek the option of renting since we will even be away for a long time and since we might be moving to the place when we arrive in the next couple of years. We intend renting from here as we would send the keys and paperworks to you so you can take possession if we conclude.

      Its a lovely place, so we will require you get back if you are really interested as we intend leasing this house to a responsible and neat person(s) who has the fear of God and will treat this house as his or her own.

      Get back to me so i can know your plans as the place is absolutely clean and note that there’s a $500 security deposit plus a $500 months rent.

      Best Regards

  3. A follow up email with some basic questions from the local person wondering if this is legit generated the following response:
    1. How is your day going? Like i said in my mail,  we had to move in a hurry. We are a small happy family who look forward to having a good person occupy. For security reasons, we had the place locked and the keys are here with us. We shall send the keys to your address if you are serious about renting since we can’t do a showing as a result of our absence. You can drive by the place immediately at your earliest convenience. At this point, if you want to proceed, then call me  eitherways on 011 44 70457 54507 or +44 70457 54507( don’t forget the plus sign), brief me about yourself and have a little chat. Then you are to also provide one or two references, your move in date, your full name, address and phone number for effective correspondence.Best regards

      p.s:I suggest you get a calling card since it is evident that you dont have international call access from your service provider. Follow the instructions on the card and dial 011 44 70457 54507 also note that there is a 5-6 hr difference in timing as England is ahead in timing so you dont get to call in a bad time.

      Still looking forward to renting to you

  4. When pressed again for wanting to speak to someone local who knows this “owner,” the person sent this response:
    1. Hello,We are positive that the distance will not cause some barrier what so ever as with the internet we can settle our business. Unfortunately We have been disappointed before, by some peoples we trust in the states. So the only person we trust in the state right now that you can meet, has informed us that he has traveled to the  Dominican Republic for a professional course. Yes we hope to be in the states in a couple of months (three months to be precise to engage the service of a broker who will handle maintanace if need be)
This is clearly a scam, and anyone using Craigslist in Harrisonburg should be alerted that it is happening.  Always call a real estate agent to find out the “real deal” on any property, and be immediately suspicious of any email communication from overseas.  For anyone selling their property, be alert that someone might be using your property as a cover for a rental scam like this.

August Harrisonburg-Rockingham Marketing Report

Check out the latest trends and figures in the August 2011 Harrisonburg-Rockingham Real Estate Market Report!  Harrisonburg-Rockingham Market Report – August 2011 PDF

Should you get a pre-qualification or a pre-approval letter?

Should you ask your lender for a “pre-qualification letter” or a “pre-approval letter” to know if you can buy a home in Harrisonburg or Rockingham County?

Assuming you plan to finance a portion of your purchase, you will want to meet with at least one mortgage lender or broker at the beginning of your process so you can know the answer to an important question: “How much money can will bank lend me for a home?”  That dollar amount helps focus the home search.

There are many professional and qualified lenders in the local area who can evaluate your financial position and give you an idea of what you can pay to buy a home (contact us if you need a few suggestions for professional lenders).

Pre-Qualification vs Pre-Approval

It is common to confuse these two very different analyses.  Pre-qualification letters and pre-approval letters are both useful, but only one carries with it the credibility of a full study of financial history.

  1. “Pre-Qualification” – A Ballpark Estimate
    With some basic information about your income, credit history, and current debt, a lender can usually issue a pre-qualification within a day or so – sometimes within an hour.  A pre-qualification is an educated guess about how much home you can afford to buy.  It can be done in a quick meeting, over the phone, and even online – and it’s usually free. 

    A pre-qualification is a starting point to understand how much of a mortgage you can afford, but it does not take all aspects of your financial history into account.  It’s a ballpark figure, that can change with a more detailed analysis.  Because a pre-qualification is based surface level information – perhaps without any documentation, credit check, or proof of income – it should not be relied on as completely accurate.

  2. “Pre-Approval” Letter – The Real Deal
    A pre-approval letter carries much more weight and is an important step in buying a home in Harrisonburg and Rockingham County.  A pre-approval analysis requires documents such as tax records, proof of income, bank statements, credits reports, current debt-to-income ratio, and more. 

    By the end of this pre-approval analysis, a lender can give a confident estimate of how much of a mortgage you can afford.  Showing a pre-approval letter to a seller can give them confidence in your offer to buy a home in Harrisonburg or Rockingham County.

So, if you are very early in your home search process and just curious about what you might be able to afford, get a pre-qualification letter.  If you then plan to get more serious, contact the Kai Degner Homes Team to start your home search and simultaneously begin the process to get a pre-approval letter.

Questions about real estate in Harrisonburg or Rockingham County?  Contact the Kai Degner Homes Team anytime!

Steps to Buy a Home In Harrisonburg or Rockingham County

Do you want to buy a home in Harrisonburg or Rockingham County, Virginia?  It’s a great choice!

The decision to buy a home is obviously one of the biggest for an individual or family.  The Kai Degner Homes Team prides itself in providing professional and comprehensive service helping people buy a home in Harrisonburg or Rockingham County.

There are a number of key stages to buy a home, each of which the Kai Degner Homes Team can assist with.

Steps to Buy a Home in Harrisonburg and Rockingham County

  1. Decide to Buy a Home in the Harrisonburg-Rockingham County Area!
    This might seem obvious, but it is important!  Some people dabble, searching through the homes on the market because it is interesting and fun.  Deciding to buy a home is a higher level commitment and should be approached in a serious manner.
  2. Meet with the Kai Degner Homes Team
    Don’t be shy, let’s start a conversation about your goals to buy a home.  Perhaps you want to a buy a home next year – or perhaps next month.  Whatever your timeline, let’s start a conversation about your goals and how we can make a plan to achieve them.  Contact us!
  3. Meet with Your Lender(s)
    Assuming you plan to finance a portion of your purchase, you will want to meet with at least one mortgage lender or broker at the beginning of your path to buy a home in Harrisonburg or Rockingham County.  There are many professional and qualified lenders in the local area who can evaluate your financial position and give you an idea of what you pay to buy a home. 

    1. Just dabbling? Ask for a “Pre-Qualification”
      With some basic information about your income, credit history, and current debt, a lender can usually issue a pre-qualification within a day or so – sometimes within an hour.  A pre-qualification is an educated guess about how much home you can afford to buy.  It is a starting point to understand how much of a mortgage you can afford, but it does not take all aspects of your financial history into account.  It’s a ballpark figure, that can change with a more detailed analysis.  
    2. Getting Serious?  Ask for a “Pre-Approval”
      A pre-approval letter carries much more weight and is an important step in buying a home in Harrisonburg and Rockingham County.  This analysis requires documents such as tax records, proof of income, bank statements, credits reports, and more.  By the end of this analysis, a lender can give a confident estimate of how much of a mortgage you can afford.
  4. Search the Market
    1. Let the Kai Degner Homes Team Search for You!
      Being members of the Harrisonburg-Rockingham Association of REALTORS© gives us access to powerful search tools that let us customize searches based on your desires.
    2. Search Yourself at SearchShenandoah.com
      The Kai Degner Homes Team has a custom online real estate property search tool designed for home buyers the Harrisonburg-Rockingham County area.  The features let you save search results and get automatic email updates when properties that fit your interests hit the market or lower their price.  You can register at www.SearchShenandoah.com right now!
  5. Visit Selected Homes for Sale
    Your online search of homes for sale in Harrisonburg and Rockingham County will identify homes you want to visit – and the Kai Degner Homes Team will organize these visits and come with you on each appointment.  We can can give extra insight into the property’s history, characteristics, and competitiveness.
  6. Make an Offer
    At some point, you will have found a home to buy and you will want to submit a offer to purchase the property.  The Kai Degner Homes Team uses official, legally-sound forms from the Harrisonburg-Rockingham Association of REALTORS.  We will walk you through these questions and considerations before making an offer to buy a home in Harrisonburg and Rockingham County: 

    1. Price (What’s a good price to offer?)
    2. Closing Date (How long should you leave yourself to secure financing?)
    3. Personal Property (Should you ask for that washer and dryer?)
    4. Home Inspection (How do you request an inspection be done before you buy?)
    5. Closing Company (What company should do your settlement)
    6. Closing Costs (Do you want the seller to pay some of these costs?)
    7. More!
  7. Negotiation
    The sellers may make a counter offer – and you might counter back – before agreeing to the final terms.  The Kai Degner Homes Team assists throughout this entire process.
  8. Home Inspection
    The home inspection is a critical part of many home purchases.  We will coordinate this inspection, help interpret the results, and work with you to determine what items you can ask to be fixed by the sellers.  This is done through a contractual process that we help facilitate.
  9. Pursuing Financing
    You will work closely with your lenders to provide necessary information for you to apply for a loan to buy a home in Harrisonburg or Rockingham County.  We provide real estate specific information during this process.
  10. Final Walk-Through
    Assuming the financing comes through, the home inspection rep/airs are complete, and other contingencies are met, you will do one final walk-through of the home prior to closing.
  11. Transferring Utilities
    The Kai Degner Homes Team will assist in making sure all your utilities are ready when you walk in your new home!
  12. Closing and Settlement
    The Kai Degner Homes Team will accompany you to the closing table and make sure that the settlement statement reflects what was agreed to in the purchase contract.  Assuming all is correct, closing will proceed – and you will own a home in Harrisonburg or Rockingham County!

It would be a pleasure to help you buy a home in the area!  If you are ready to have a conversation about taking the steps to buy a home, let’s begin a conversation.  Contact us today!

See Recent Tips for Home Buyers by the Kai Degner Homes Team

Sell a Home in Harrisonburg or Rockingham County

Do you want to sell a home in Harrisonburg or Rockingham County?

To sell a home in Harrisonburg or Rockingham County requires a combination of key strategies that the Kai Degner Homes Team prides itself in providing home sellers.  The Harrisonburg-Rockingham County area is in a buyers market, which means selling real estate is a competitive process – only a combination of best home-selling strategies guarantees that your home is best positioned to sell (see the latest Harrisonburg-Rockingham County Real Estate Market Analysis).

The Kai Degner Homes Team focuses on key strategies to sell a home in Harrisonburg or Rockingham County.  There are many things you cannot change about your real estate, each of which may make your real estate more attractive or not (location, layout, neighborhood, slope of yard, the market, etc).  The Kai Degner Homes Team Key Strategies are based on what IS in the home owner’s control.

Professional photography can best present your home so online searchers will come to see your home.

  1. SMART Presentation – Make Your Home Shine!
    Your best opportunity to sell a home is when a potential home buyer comes to see inside!  What are the most important characteristics that buyers notice?  What should you fix before putting your home on the market?  Should you paint or not?  How can you best stage your home?  The Kai Degner Homes Team knows these answers, and we work with home owners to prepare their home to shine when someone visits the home!
  2. SMART Marketing – Be Where the Buyers are Looking!
    So, how do you get people INTO your home to see it?!  That’s where the Kai Degner Homes Team‘s comprehensive, strategic marketing plan comes into play. 

    1. Professional photography is critical: you should demand it, and we don’t settle for anything less (look at the amazing photography included in this article).
    2. Strategic online advertising is an absolute priority – almost 90% of home buyers searched online during their home search (that’s why professional photography is so important).  Do you know what the Top 10 Real Estate websites are?  We do – and your property will be featured on them.
    3. Strategic print advertising. Did you know only 3% (yes, THREE PERCENT) of buyers said they bought a home because they saw it advertised in print (like the newspaper)?  News flash: just printing newspaper advertisements is NOT effective marketing to sell a home today.  We balance print advertising so it is focused, and helps actually sell a home – we don’t rely on it too much (that’s a mistake).
    4. Much more! Contact us to learn about the rest of our marketing strategies to sell a home in Harrisonburg and Rockingham County (we’re obviously not going to put ALL (or even most) of our best marketing strategies on this page – we want to share those in person with you!).
  3. SMART Pricing & Market Analysis – The Most Important Decision to Sell a Home
    At what price should you sell your home?  How much higher than you are willing to take should you price your home?  This is the most important part of selling a home in Harrisonburg and Rockingham County.  It is no secret that this is not the best market for your home to sell: the average home sits on the market for over 200 days – many times because it’s priced too high.  This doesn’t mean you need to give your home away.  We are going to do the detailed research to show you how to price it so you can sell your home and get the most the current market will bear.  We will be honest and upfront with pricing, and give you the facts, to make a smart decision on pricing.
  4. SMART Innovations – What can YOU offer that NO ONE else can?
    What are some creative ideas that work in your home?  What can you offer that no one else can?  We will identify these and use them to sell your home in Harrisonburg and Rockingham County.
  5. SMART Negotiating – Let’s Make a Deal
    A home for sale that is marketed correctly, shines at the showing, and is priced competitively will receive an offer from the prospective buyer.  The Kai Degner Homes Team helps evaluate the many different components of the offer: price, closing date, financing contingency, home inspection contingency, personal property requested, and more.  Negotiations and communication will continue through closing.
  6. BONUS Strategy – The Kline May Realty Company of Real Estate Agents
    The Kai Degner Homes Team is proud to be part of Kline May Realty, the highest producing real estate brokerage in Harrisonburg and Rockingham County.  No other brokerage in the area sells more residential real estate than Kline May Realty (contact us for evidence of that claim – we’re happy to provide it).  Our agents work together extremely well, and assist each other in helping home buyers and sellers meet their goals.

If you need to sell a home in Harrisonburg or Rockingham County, give the Kai Degner Homes Team an opportunity to earn your business. We only get paid when we sell your home, and we put your interests first.

We know you have many options for real estate agents to sell your home, so we are prepared to give a full presentation of how we would prepare, market, price, and position your home so you have the best chance to meet your goals.

Contact us today - call (540) 442-0316, email Kai.Degner@KlineMay.com, or use this simple form.  Let’s start a conversation about how to sell your home in Harrisonburg or Rockingham County.

Up, Down, and Around the Harrisonburg-Rockingham Real Estate Market

The graphic shows how many residential properties have sold in the HRAR MLS so far in 2011. Overall, the market is slightly down when compared to last year, due at least in part to home buyers tax credit available in 2010.

The Kline May Realty Market Harrisonburg-Rockingham Real Estate Market Report is published for the period ending May 31, 2011.  Let’s take a look at what’s going on.

Residential sales figures for the Harrisonburg-Rockingham Association of REALTORS Multiple Listing Service (HRAR MLS) in May declined slightly from April, but Buyer activity (property showings and new contracts) remains steady. [Read more...]

WSJ Says It’s Time to Buy

The Wall Street Journal recently published an article title Why It’s Time to Buy, in which the authors argue that, “Despite all the gloom … there are growing indications that it is a good time to buy.”  This should be encouraging news for anyone considering purchasing a new home or investment, and has good credit and a strong employment history.

Ruth Simon and Jessica Silver-Greenberg cite low mortgage rates, low prices, and a high supply as two main reasons that we’re in a buyers market:

Mortgage rates, which fell to 4.55% for the week ending June 2, according to Freddie Mac, are near 50-year lows.  Homes have become more affordable than they have been in years: According to Moody’s Analytics, the ratio of home prices to income is now 20.9% lower than the 15-year average through 2010, and 12.5% lower than the 1989-2004 average. A historic glut of homes, meanwhile, has created a buyer’s market: There were about 15 million vacant homes in the U.S. last year, according to John Burns Real Estate ConsultingInc.—some 3.1 million more than normal.

The article makes a number of interesting points and I recommend the read.

A Tale of Two Markets: Over and Under $125,000

Units Sold at Various Prices in the Harrisonburg/Rockingham Real Estate Market Jan-May 2010 vs 2011

So, we’ve finished May – five months are complete in the Harrisonburg/Rockingham real estate market.  This week, there’s been much national news about a home price “double-dip“, and I’ll explore whether that’s the case locally in terms of price in an upcoming post.  For now, let’s just compare the first five months of this year’s real estate market with the first five months from last year using the number of units sold at various price points.

Take a look at the embedded summary image of number of properties sold vs their price.  There has been a marked increase in the number of units sold priced at $125,000 or less.  This suggests investors and others are confident and able to secure these lower priced homes.  There was an 141% increase in number of homes sold priced between $75-100,000, and 60% increase in number of homes sold between $100-125,000.

And, then comes the rest of the market: all prices ranges from $125-300,000 saw fewer homes sold this year compared with the same period last year.  One part of the explanation is the 2010 home buyers tax credit, which was a motivating factor in 2010 but was available in 2011.

The $325,000 and $400,000 price points show drop offs in number of homes sold in Harrisonburg and Rockingham County.  No price range from $325-400,000 saw more than four properties sell this year, and no price range above $400,000 showing more than three units sold so far in 2011.

The spring season is one of negotiations and writing purchase contracts, so it remains to be seen how the units sold comparison will look through as we go through the summer months in Harrisonburg and Rockingham County.

Buyers Still in Driver’s Seat in Harrisonburg/Rockingham Real Estate Market

Seasonal Spike in Average and Median Prices in Harrisonburg/Rockingham Real Estate

Figure 1: April 2011 showed an apparent seasonal spike in the Harrisonburg/Rockingham real estate market. The chart shows an increase in 2009 and 2010 similarly timed with April in 2011. (Source: Harrisonburg -Rockingham Association of REALTORS Multiple Listing Service, 5/09/2011)

The Harrisonburg/Rockingham real estate market report is showing a continued decrease in prices and an increase in average days on market for homes listed for sale.  It remains a buyer’s market!

Figure 1 shows a spike in the average and median prices of homes that sold in April 2011.  Initially, that might suggest that prices are going up and that the market is turning around.  However, the previous years show a similar spike in prices at the same time of the year, following by a decline in the following few months.

Harrisonburg/Rockingham Average and Median Prices Through April 2011

Figure 2: The last 12 months' average and median prices for homes in the Harrisonburg/Rockingham area continue to decline, though not as steeply as the national average. It remains a buyer's market! (Source: Harrisonburg -Rockingham Association of REALTORS Multiple Listing Service, 5/09/2011)

Figure 2 is a better clue for the overall average price of Harrisonburg/Rockingham real estate.  This chart averages the average and median price from the previous 12 months.  As is shown, the rolling 12-month Harrisonburg/Rockingham real estate prices continue a decent – meaning homes continue to be more affordable for people looking to buy or invest.

What does this mean for sellers?

For anyone with property currently listed for sale, they should pay attention to the declining prices and consider how competitively priced their home is.   [Read more...]

Featured Video Tour: The Riddle House in Bridgewater

The Riddle House is featured in the Kline May Showcase, the local TV show focused on wonderful local home options.

Transcript:

The Riddle House at 401 North Main Street in Bridgewater, Virginia, is an opportunity to “have it all”: a fully-renovated historic property, a convenient downtown living location, and a Main Street business address!

The Riddle House combines the charm and richness of an historic 19th-century home with upgrades and B-1 business zoning that allow a range of contemporary business uses, including professional offices or a bed and breakfast.

J.A. Riddle, the home’s namesake, was one of Bridgewater’s most successful entrepreneurs during the late 19th and early 20th centuries.  Moving from Moscow in northern Augusta County to Bridgewater in 1897, Riddle bought an existing drug store and turned it into a profitable enterprise. In addition to his business interests, Riddle served as mayor of Bridgewater from 1910 until 1924.

Most recently, [Read more...]