Kate Elim, Lake Anna Real Estate Specialist: December 2011

Although this is my entry for Friday, December 23, 2011, I am writing it on Tuesday, December 27th.  Four days ago a wonderful friend of mine was killed as a result of a one car accident close to her home at Lake Anna. Gail Martin was someone I met about 15 years ago and liked immediately.  Gail has been the most active person I have probably every known.  She has lent her time and energy to so many organizations and individuals that it is almost impossible to keep track of them all.

As much of a shock as Gail's death was, my reaction has been a huge surprise to me.  I knew how much I liked and enjoyed Gail through the years but I was not prepared for the loss I have felt since her death.  I found out about two hours following the accident and have been hurting ever since.  The tears come unexpectantly and frequently.  

That, along with spending time with family members for the holidays, has precluded any thought of real estate.  My mind was only focused on responding to people and not initiating anything.

Gail's husband is in Intensive Care so the celebration will be late next week with the expectation that Bill will be home from the hospital by then.  As I help with preparations for the Celebration of Gail's life in the days ahead, I do not expect to focus very much on work.

Lindy and I cannot think of a better way to wish you a

Merry Christmas *

and a very Happy and Healthy New Year.

Lindy has her eye on you.

Hopefully none of you will become concerned.  I did not dognap JJ from Susan's house. 

Honest to goodness!

I really have my own sweetie pie.

*Please click on Merry Christmas above.

Who would think that we would find such helpful hints on window cleaning here on Active Rain. I'm accustomed to reading these types of things on Heloise but this one looks like a winner.  Even though we use a professional window cleaner because we have way too many windows and french doors I'm sure this is a recipe for clean windows that will be perfect to share with others.  Owners preparing their homes to sell and buyers moving into a new purchase might want to try it.

You might find it to be the perfect solution for you or someone else.

Louisa Arts Center presents a treat for the holidays.  For all of you parents and grandparents this is a chance to have an entertaining afternoon with the younger set in your family.   If you are looking for a fun thing to do this might just be it.

Children admitted free when accompanied by an adult
with a General Admission ticket.

Buy your tickets for the performance at the Cooke-Haley Theater online at
www.louisaarts.org

During November 2011,10 homes sold at Lake Anna.  As you can see five of the homes were water access with prices ranging from a low of $89,900 to a high of $289,900 for a home that has access from the rear of the property directly through the common area to the lake.  Waterfront homes ranged from $242,000 to a high of $799,000 for a home that was on the market for only a few days and sold for full price showing once again that a well priced home can sell quickly.

This past month's sales of 10 homes compared to 12 total during the same time in 2010.  Eight water access homes sold for a low of $140,000 to a high of $362,000 for a shared waterfront home with views of the lake.  Four waterfront homes ranged from $295,000 to $500,000.

In November 2009 we saw the sale of nine homes, five access homes and four waterfront homes. The off water homes sold between $232,500 to $377,000 which was a shared waterfront homes while the waterfront homes ranged from $510,000 to $799,900.

We are so lucky to have a super neat shop close to Lake Anna.  The Fabric Hut and Gift Gallery is full of gift items and this is the perfect time of the year to make a visit.  While there I saw a number of items perfect for others and I know you'll be tempted, as I was, by items that you would like to have too.  There are personal as well as many household items to choose from.

Simply walking inside puts you in the holiday spirit.

One of the nice things about Fabric Hut is the way they display their wares.  It is artfully done and makes it a pleasure to stroll around gazing at one thing after the other.  I had quite a time taking photos.  You will have an equally enjoyable time shopping there. 

Be sure to make Fabric Hut one of your stops while out Christmas shopping.  You may well be able to check a number of presents off your list plus you'll no doubt find a few items that you won't want to resist for youself.

Fabric Hut is located in downtown Louisa across from the Courthouse. 

FABRIC HUT & GIFT GALLERY

203 West Main Street

Louisa, Virginia  23093

            (540) 967-1630         

THE TRUTH DOESN'T ALWAYS PAY.  I have found this to be true especially during this tough real estate market.  It was always true to some extent but a depreciating market increased the number of times I was reminded of this.

One of the backbones of many Realtors business is having a number of listings.  This is something I've heard this told many times during my two decades as an agent.  Unless you are going to work strictly as a Buyer Agent you will no doubt find truth in this statement.

Like many agents I am always interested in good listings.  Good listings mean listing that have a high probability of selling.  To get most listings it requires doing a listing presentation for the home owner(s).  I enjoy doing these.  I know what my strengths are and I know that I have a good shot at getting most properties sold.

However, some sellers do not want to hear the truth.

In fact sometimes when you tell the truth you lose the listing.  You immediately lost the ability to earn the listing commission.  I don't mind if I've lost it to someone else they feel will do a better job.  My disappointment is when my suggested list price is not considered high enough that I have to shake my head in disbelief.  I don't just grab a number out of the air.  I'm disappointed not just for me but for the seller.  Chances are they are not going to have a quick sale and no matter what they say, most do not want their homes languishing on the market only to eventually reduce them over and over again.

Someone might wonder if I come in below market value.  The answer is:  ABSOLUTELY NOT!

One recent example is a house where I suggested a sale price just over the half million dollar mark.  Instead it got listed with someone else for $599,900.  Months go by.  No contract.  Reduction.  Months go by. No contract.  Another reduction.  Still no contract.  Now it is listed below my suggested list price.  Would the owner have been better off to list lower to begin with?  I would certainly think so.  Perhaps he does too.

Could I have done something different in order to change the outcome?

Definitely! I could easily have suggested a much higher list price.  Chances are I would have gotten the listing because, in the example mentioned above, I had been called in to provide advice on fixing up the property months before it was put on the market and continued to do that up until I presented him with my suggested list price.

Did I change my business practice based on losing this listing (or any of the others)?

No!  For me it's better to lose the listing than to do that.  Real estate can be a very stressful business.  I do not believe in knowingly adding to the stress in my life.  Over-priced listings are exactly that...unnecessary stress.

Lesson learned:

Know your market inside and out.  Work at it until you are comfortable with what your gut tells you the value is and then double check the numbers to make sure you are in the ballpark. Stick with the facts and work with those that appreciate your honesty.

Even though winter is fast approaching, at least the official beginning, we are still experiencing some really lovely weather at Lake Anna.  It was a little bit crisp today but the bright sunshine warmed us up.  On days like this its nice enough to be out on the lake.  Although I was too busy to do that it made me think of the times that I am fortunate enough to take a spin up lake.

For those of you that don't live at Lake Anna here's a taste of what it is like during a good part of the year.  I love taking a ride with my husband as he pilots the boat and I sit back taking photo after photo.  It is especially enjoyable when we pass by other folks that are also having a good time.

Some of the shoreline improvements can accommodate a very large crowd and yet are just right for a small gathering.  This is one of those that provides lots of places to enjoy both sunshine and shade.  

A day spent out on Lake Anna supplies me with plenty of memories, and photos, to get me though even the coldest of winter days.