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If you have any questions or need more detailed information, please feel free to contact us at 703-624-3270 or fill out the form to let us know how we can help with your real estate needs. Being a very busy person---I must tell you email is best so I don't miss the message can paste it on my calendar.

Office Location 1100 N Glebe Rd #1010,
Arlington, VA 22201
Phone: (703) 624-3270
Fax: (703) 224-8121

The Blond Bombshell Lawyer Who Loved Me...NOT!!!

Posted by Jay Seville on Friday, April 24th, 2009 at 8:43am.

The Latest Examples of Floaters Losing Their Shirts...and Pants

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A Couple of Arlington Condo Floater Stories Hit Home

I've written about Virginia real estate floaters in the past.  They go out on their own and buy real estate directly from the builder or through the listing agent instead of having an excellent real estate consultant on their side to protect them financially, negotiate the price down and help them avoid big mistakes.   That's the job of a selling agent which is the technical name of the buyer agent. We don't sell real estate--at least the good ones don't.  We consult and advise our clients--hopefully with the same care and analysis we'd offer to our own mothers.  At least that is the standard I use.  

The woman who inspired this post was a...well...blond bombshell lawyer.  What else can I say?  She wasn't brunette you know.  When she reached me the 1st time to make an inquiry I could tell she thought she was trying to get the builder rep.  I confronted her that this was not in her interest and she really should have somebody on her side if she was serious about $$$.  Indignantly she seemed to be willing to take my advice and we went out to view some homes.  I followed up and she ignored me.  

Preparing comps and an initial offer for a client in a certain new condo a few weeks ago I found her--$40,000 poorer.  What a waste and so unnecessary to her.  The unit directly underneath her with same floor plan and no other differences other than being 12 feet higher paid $35,000 less than she did.  I would have never had let her pay that much. 

  • 1. After all my JustNewListings.com team has brought this builder 5 buyers in the last 2 years.  They give us their best offers. 
  • 2. The builder knows she is not going to bring them more buyers. 
  • 3. The builder knows he can show her what other "floaters" have paid and she'll think these homes really are worth the price of $x.xx. 
  • 4. Of course she's too busy to really find out what the builder is not showing her....
  • 5. And the builder knows if she won't pay the right price, the next floater will so he rejects any hard negotiating by her.

But the bombshell didn't need me.  She knew a little about real estate which was the problem....

Her Mom Was a Realtor in North Carolina....

It has always amazed me that generally the worst advice for real estate comes from relatives of my clients and their friends.  One of my agents, Shaun, showed property to this young woman last year and she disappeared on him.  Shaun recently found out she had paid $385,000 for a condo that should have not cost more than $370000-375000 at the time.  I know because I had some other buyers who almost bought the same scenario and I had to run #s lots of times on that building.

It's ironic that a realtor would help her daughter overpay by $10,000....

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Getting Positive About Represented Buyers--Happy Endings

 I have a new team member now named Aimee Spencer.  You can read about her here and she is amazing!  The JustNewListings.com team and our clients are fortunate to have her--at least for about a year and then she'll be on her own I'm sure.  Right off the bat here's some of her stories:

  1. she's written 5 contracts in her 1st month and ratified 3 or 4.
  2. she represented one lady at a new condo who paid $347,000 while others were paying  $370,000
  3. she put another couple under contract at a new condo for $478,000 and other had paid $550,000ish and $600,000 in the past year for the same units.  And this was in Ballston where prices have been fairly stable compared to greater Northern Virginia.

I just closed on a cutting edge condo people paid around $950,000s for in Dec 2008.  My client got his 1600 sq ft for a net of $820,000 in March 2009.  We beat out 2 competing offers.  Sometimes we get lucky, but we always know what we're doing. 

When you google "Arlington Virginia Condos" the JustNewListings.com website is #1 & #2.  Builders can figure this out and if you're buying anything new around here you should have our buyer agents by your side when it comes time to view the buildings and write contracts.  We can't always get extreme deals for you, but we can protect you from any big mistakes for sure and usually save you significantly more than other agents will.   cool_217

 

The same negotiating skills are brought to the table whether it be houses or townhouses or condos.  A sense of the marketplace is crucial in knowing how to proceed contractually.  Protecting you contractually is also critical.  Most agents do not even know what happens to disputed earnest money deposits or how to protect you, etc.

Our team looks forward to making yours a happy ending.  And for those of you who didn't know we hang our hats at RE/MAX Allegiance.

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