Look out and be prepared!

by Jim Stakem 1/26/2010

If you have a mortgage commonly referred to as “Alt-A”, you may have a problem in the near future. Many of these loans had features which will cause financial hardship for the homeowner. They are generally adjustable loans which were

Are you in Distress?

by Jim Stakem 1/14/2010

If you are one of the millions of homeowners whose adjustable rate mortgages are about to be adjusted you may have a problem. Many of those adjustments are going to make your payment unaffordable. If that is the case take action now to avoid as much pain as possi

The year in review

by Jim Stakem 1/11/2010

Although I am a month early, the story of 2009 is very clear. We began 2009 in utter chaos, sales prices were rapidly declining and home prices were falling sharply as well. It was a very unsettling time for everyone in the residential Real Estate business, the worst market I have seen in my career of over 25 years! As the year progressed w

A warning about short sales!

by Jim Stakem 12/8/2009

Short sales are a great tool to be used in case of extreme financial distress to ease the burden on both the seller and mortgage company. It is very apparent that the current volume of these sales as well as the banks' inability to keep up with the

The hard truth about pricing!

by Jim Stakem 12/1/2009

If you are thinking about selling your home there is a little known concept that needs to be taken into consideration - the “Velocity of Sales”. As homes sell they are used as comparables for appraisal purposes. The most recent “comparable sale” for your home is the most important

Should I buy now?

by Jim Stakem 11/23/2009

In my opinion the values of homes in Northern Virginia and especially in Loudoun County are as low as they are likely to go. When you combine the values with the exceptional interest rates

What's ahead for Loudoun?

by Jim Stakem 10/18/2009

Residential
We have one of the strongest residential markets in the country and it will only grow stronger. All of the elements are in place for a rebound in sales volume and prices! We have far more buyers than sellers and good properties fly off the market. There are only two problems. Prices are flat and very few people want to sell! How can this be? We all know what ha

Loudoun County! What's Next?

by Jim Stakem 9/30/2009

Without rehashing the point any further, this has been a very difficult couple of years for the Real Estate market. Our market in Loudoun County has experienced its fair share of problems. The million dollar question is what's ahead for us. Loudoun County is composed of three distinctly different markets. The first and most active is the heavily developed Rt. 7 corridor from Leesburg east.

The next shoe to drop!

by Jim Stakem 9/18/2009

It is all too obvious that Loudoun County, as well as the rest of Northern Virginia, has a rapidly deteriorating commercial Real Estate Market.

Loudoun County! What's Next?

by Jim Stakem 9/15/2009

Without rehashing the point any further, this has been a very difficult couple of years for the Real Estate market. Our market in Loudoun County has experienced its fair share of problems. The million dollar question is what's ahead for us. Loudoun County is composed of three distinctly different markets. The first and most active is the heavily developed Rt. 7 corridor

Finally! Positive Numbers!

by Jim Stakem 8/13/2009

July broke the long slump, if only by a little bit. The average sale price in our survey INCREASED in July! I wouldn't consider my house an ATM and plan on using the equity, it only went up 1%,