What is a foreclosure? A foreclosure is a property that is now owned by the Bank. The Bank took the property back typically due to non-payment by the previous borrower. Many times the foreclosure properties are priced "ahead" of the market or at a discount compared to other active homes.

          If you are looking for foreclosures or deals in today's real estate market you will want to watch this video and go to www.nellisgroup.com/deadhouses

This film brought to you by Nellis Group Films. Stay Tuned for the next Short Film produced by the Northern Virginia Studios.

       The home backs to a wooded common area and is near the trail for Huntsman Lake:

          Watch & Listen to the video to learn about the bathroom remodels and what you can find in this coveted community in Springfield Virginia... You can learn more about Glenwood Manor or Lakewood Hills at www.NellisGroup.com

      For more detailed information on short sales go to: www.NellisGroup.com/ShortSales

       If you want more details on a short sale option email us direct at shortsales@nellisgroup.com

    Over the years I have heard that "All Realtors are the Same"... Many times when first meeting with prospective buyers or sellers I get the sense that they view me as a "commodity"... Just another Realtor, let's listen to what he has to say. Well? Is there a difference or are all Realtors the same?

     In this first segment of "MythBusters for Real Estate" I will review Myth #1: All Realtors are the Same... Watch the video to see if this is True or False:

    A special thank you to SO MANY registrants for our first ever Nellis Group "Snow Count" Contest. We had an amazing snow fall throughout the Metro DC area. I heard counts from 15 inches of snow up to 35 inches.

     The contest was based on the snowfall in front of our office in Alexandria located at 120 S. Royal Street, Alexandria VA. Out of all the contestants Amy Fernandez came the closest with an entry of 17.25.

  Amy Fernandez (Winner of the Snow Count)

Here is an official look at the measurement taken in Old Town this weekend- It was 17.75 inches.

          To see more photos of Old Town Alexandria click on the photo below of the man on skis making the most of the weather:

       The Nellis Group is having a Snow Count!! So... Add your comment to the end of this blog in order to be entered into the contest. We will be measuring the amount of inches accumulated by Saturday at 4 pm in Alexandria Virginia outside of one of our Real Estate Offices...

        Make your predictions here- the winner will receive a $25.00 gift card from The Nellis Group - All entries/blog comments must be submitted before Saturday at 330 PM- *** New deadline...

         Current prediction from Weather.com:

      Ever wonder where you could purchase a condo and be in the middle of everything? Close to shops, restaurants, metro access... The Williamsburg Condominium on N. Wayne Street gives it all to their residents:

         The Williamsburg in North Arlington is a Hi-Rise Building that offers an exercise room, outdoor pool, library, game room & party room for its residents. The Williamsburg does have its own community site: The Williamsburg

   (Aerial View of The Williamsburg)

               It is always important to hear from those that live in the community. To get a chance to find out if there are building activities, community events or even farmer markets in a downtown area... Click on the video below to hear from original owners of the Williamsburg Condo:

                Contact The Nellis Group for their new listing in the Williamsburg- a 2 bedroom/2 bathroom with a den.

 Remodeled/Renovated home located in Burke Virginia just went on the market earlier today with The Nellis Group... Custom Kitchen, Remodeled Bathrooms and exterior renovations make this home the perfect fit. The home is located in Burke Virginia and in a planned community referred to as Longwood Knolls...

    Longwood Knolls is located directly off of the Fairfax County Parkway and Lee Chapel Road. It is in between 3 local parks and one of the largest parks in Fairfax County: Burke Lake Park.

     You can see more of the home by going to:  Shipwright Drive and see the electronic brochure with detailed photos and descriptions of the home including special features & a letter from the owner.

      Click on the video below to hear the Seller tell you about the detailed renovations he has done with the home and see what he loves most about the layout:

       We went to LaxWorld located in Burke Virginia. It located close to our Burke Centre Office so it was an easy stop to see what they had in stock. At LaxWorld I realized that they had everything we needed to get my nephew started in the sport of Lacrosse.

         Watch this video to learn the basics- from purchasing helmets to how to break in a new lacrosse stick...

      It is not very often you get to "cheat" on your diet with gourmet treats from your childhood. I was in the Lavender Moon Cupcakery recently just before a 6 year old was about to have his party inside the restaurant.

     The decor inside is of course Lavender with an inviting atmosphere. The cupcakes range in style and toppings. The owner believes in keeping up with the seasons so you always have variety and the opportunity to be festive.

      Watch the video to see photos of the cupcakes & the cupcake of the month:

     The Lavender Moon Cupcakery in Old Town is located on S. Royal Street near the intersection of King Street & S. Royal.

    Let's sharpen the pencils and take a look at what the real estate market is doing right now:

     In an effort to help the general public understand the current market trends we wanted to compare November 2009 to November 2008. We have seen an increase in home sales from 1,100 to 1,567 for the month of November.

     Our active real estate listings are down 27% which is a tribute to buyers buying properties right now. Some of this spurred along by the tax credit given to first time buyers and buyers who have been in their home for over 5 years.

      To see the statistical data click on: Real Estate Market Data on Northern Virginia

       For more information on how to sell your home: Nellis Group Marketing or to take advantage as a buyer go to: Smart Buyer

      There are many terms, lingo and slang that Realtors use which the common public does not understand. It can be confusing for a buyer to truly understand what is available and which homes are already sold. Some of this misconception is a result of the major search engines keeping properties on their sites even when they are sold!! We have received calls and inquiries from buyers excited about a home that was sold months ago... To access the most up-to-date homes go to: Search for Homes

        Here are the basics you will need to know in regards to "status" terminology:

ACTIVE: This home is fully available and ready to purchase from a qualified buyer.

SUBJECT TO THIRD PARTY: This home is a short sale. The seller does not have the funds in order to sell the home at the current market price so must sell it contingent upon the Bank (3rd party) approving the loss it will take on the loan that is owed to them.

ACCEPTING BACK-UP OFFERS: The seller has already signed a primary offer but willing to take "back-up offers". Taking a back up is great for the seller BUT not the purchaser. Typically a back-up offer only strengthens the seller's negotiating with the primary offer. Forcing them to agree to more favorable terms by leveraging your back-up offer.

CNTG/NKO: (CONTINGENT/NO KICKOUT) This home has an accepted offer but is subject to some type of contingency. At this stage the buyer is the only one that can walk away from this sale.

CNTG/KO: (CONTINGENT/KICKOUT) This home has an accepted offer but has a contingency that the Seller can exercise. The seller can accept other offers and can "kick out" the current offer if a better one is received and the current buyer is unwilling to remove their contingency to purchase. This normally is a result of a buyer needing to sell another property first in order to purchase the current home.

CONTRACT: All contingencies are removed and now if settlement does not occur the buyer or seller would be in default of the offer.

WITHDRAWN: Seller has removed the home from the market and is no longer actively selling the home.

EXPIRED: Seller has not extended the Listing Agreement with the Listing Agent (Realtor) and property is no longer being actively marketed.

TEMP OFF: (Temporarily Off) This is a short term status until the property is ready to go on the market again. It was originally on as ACTIVE and will be TEMP OFF until ready to go ACTIVE.

             For more questions on terminology contact The Nellis Group today to make sure you are looking for the right homes that are still ACTIVE

    How do you purchase a short sale? What is involved? How long does it take to buy a short sale? The Nellis Group has been successfully negotiating short sales for both their buyers and sellers in the Northern Virginia & Washington DC market.

How do you purchase a short sale?

     The purchase of a short sale requires 2 negotiations. The first negotiation is with the home owner- getting the seller to sign off on your offer (taking your offer instead of other offers). The second negotiation is a long duration and occurs between the Bank and the purchaser. Since all short sales are subject to "third party approval" all parties must wait until the Bank agrees to the shortage of funds with this transaction. Watch this video to learn more about the process:

What is involved?        

    PATIENCE... it is ideal for someone that is renting month to month or has flexibilty on purchasing without selling their current home. Some money or inspections will be required in advance in order to secure the home. It is also important to know that many times the Bank will counter the "agreed" price with the seller to a higher amount. This is because many sellers will under price the home in order to receive a quick contract. The sellers do this because of the Catch-22 of short sales. Without a signed contract the Bank will not negotiate with the seller. Once the seller has one in hand they can negotiate with the Bank to get the offer approved and sell the home.

How long does it take?

       The Bank will look to an Appraisal or a BPO (Brokers Price Opinion) in order to establish market price and whether or not they will accept the offer presented by the Seller. It can take 60-90 days to hear anything back from the Bank... The issue is that many of these negotiators assigned by the Bank are working with over 400 files at a time. The average case load should be 100-150 files/homes for a negotiator.

What does success look like?

          Hear from clients of The Nellis Group to learn more about the process and how one can be successfully negotiated:

      Less than a 75 minute ride from Washington DC you find a small town on the water - Chesapeake Beach, Maryland. There are quaint shops, beautiful scenery and a great marina. We recently took an adventure to explore what the greater Washington DC area has to offer.

       We chartered a boat with Captain Paul with Bay Hog Charters. The boat fit comfortably 7 fishermen and could have easily accommodated 10. We were on board with Captain Paul (an active firemen in DC) and Jason- a local fishing guru. To check out the action we had that day click on this video:

         It is an early morning as you leave the dock at the marina in Chesapeake Beach at 7 AM. I have to admit that I am not a fishermen but I did leave the day "hooked" on going again. This time we caught Rockfish or "Striper". Once we returned to the dock Jason filleted the fish for us which was a HUGE time saver and a great benefit of fishing with the best crew on the waters in Chesapeake Beach, Maryland.

          If you are thinking about going out to fish make sure you look up Bay Hog Charters.

       To learn more about the event click on this video:

      As the son of a military pilot it is with great pride that we honor those that serve in the military today with this event. Thank you for your sacrifice and continued service for the lives of others.  Merry Christmas & Happy New Year to all...

       This is the latest update on Vicki Nellis & the Real Estate Market...

       For more information on the new tax credit go to: www.NellisGroup.com/Tax-Credit

     The Real Estate market faced a similar correction in 2005. This market correction went from 2005 until the middle of 2009. In the last couple of months we have seen the market improve and the inventory go down due to 3 factors:

1. Interest Rates- some of the lowest we have seen. Averaging 5% and many of our clients have recently refinanced or purchased below 5% with The Nellis Group lender connection.

2.  Prices- The real estate prices in the Washington DC & Northern Virginia are at all time lows... In the past an investor would have to put down close to 33-35% in order to cash flow a property. In the current market Investors are cash flowing with 18-20% down on a home.

3.  Tax Credit- The First Time Buyer Credit has really engaged the home buyer in this current market. Everyone hoping to take advantage of it before the deadline of November 30, 2009.

Click on this video for more information:

         It has been exciting to see home buyers take advantage of the prices and interest rates in the local Real Estate market. As a native to the area we are all hoping for the Redskins to rebound THIS season. The good news is that Redskins fans are not only loyal but optimistic... For instance, the majority of Redskins fans still believe we have the opportunity to make it to the playoffs this year despite the tough schedule ahead.

          Go Skins!!

      There are 2 types of rides...

1. 25 Mile Ride- a more competitive fast paced ride

2. 15 Mile Ride- it is labeled as a "family ride"

       The finish line will be in Crystal City, Arlington VA. For more information go to DC Bike Ride