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Bedford Short Sales and Foreclosures

November 5, 2010 Leave a comment

Short Sales and Foreclosures in Bedford VAshort sale image

If you looking to invest in real estate and your considering a Short Sale or a foreclosure in Bedford VA, then contact Witt Fogleman.
The Bedford, Lynchburg, Roanoke area has not been hit nearly as hard as other areas for short sales and foreclosures. This area didn’t have the real estate bubble that existed in other areas but needs less to say we do have several foreclosures and short sales.

Selling a Short Sale in Bedford

The difference between a short sale or a foreclosure on your credit could impact you and your family for many years. If your home goes to foreclosure you will have a hard time buying a new home, renting, purchasing an car, or getting credit for any purchase.

Negotiating a short sale can be very difficult and timely, there are many factors to consider including getting the right price, how the bank reposts your account, and potential taxes after the sale. You need an agent who understand the process and can help you all along the way. If your a seller, what are the implications of a short sale for you long term? We can help.

Purchasing a Short Sale or a Foreclosure

If your wanting to purchase a short sale, contact us. Short sales may not fit your particular needs or situation. During our buyers consultation, we will review all your needs and make the best recommendations.

Sometimes foreclosures can be a great investment, buying a property and having equity from day one is a great thing. However, there are pitfalls to buying a foreclosure. Having an experienced real estate agent on your side to help guide you o make good decisions. Ultimately every decision is up to you, but we will advices you and help you avoid the pitfalls.

SFR logo Scott Fogleman and Wendy Witt are the founders of Witt Fogleman of keller Willaims Realty, both SFR agents. SFR is a certification provided by the National Association of Realtors and stands for Short Sale and Foreclosure Resource.

 

To read more please visit WittFogleman.com

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Open House Sun Oct 3 1-4 Pm in Bedford County VA

Witt Fogleman | Keller Williams Realty | (434) 941-8847
1143 Holiday Cir, Vinton, VA
Custom built home for her and decked out garage and workshop for him.
3BR/2BA Single Family House
offered at $299,900
Year Built 1977
Sq Footage 2,688
Bedrooms 3
Bathrooms 2 full, 0 partial
Floors 2
Parking Unspecified
Lot Size 113,691 sqft
HOA/Maint $0 per month
DESCRIPTION

Hand built Flemish bond brick home with true coined corners Brick walkways, retaining walls and porches. Interior brick detail including columns and flooring, two fireplaces, one in dining area of eat in kitchen has woodstove insert and blower, one wood burning FP in formal living room. Timber Truss pop out windows throughout. Lots of storage: utility room and storage off kitchen with shelving and cabinets, large laundry room with cabinets. Laundry can be main level or basement. Mechanical room houses wood furnace ducted into hp with thermostat inside ductwork, damper to protect hp coil, whole house humidifier, two water heaters, timer on an exterior light sensor for soffit light fixtures. Commercial grade 400 amp service, 200 for home, 200 for garage, workshop. Oversized 28×30 2 car attached garage, plumbed for bath, 6 air supplies for compressor that is piped in from addit’l garage below. Car lovers home!
see additional photos below
PROPERTY FEATURES

– Central A/C – Central heat – Fireplace
– Walk-in closet – Hardwood floor – Living room
– Office/Den – Dining room – Dishwasher
– Refrigerator – Stove/Oven – Microwave
– Basement – Laundry area – inside – Yard
COMMUNITY FEATURES

– Garage parking
OTHER SPECIAL FEATURES

– 3 garages Large two car garage and extra Workman’s garage
ADDITIONAL PHOTOS


Kitchen

Breakfast room

Living Room

Bedford

Foyer

Side of home
Contact info:
Witt Fogleman
Keller Williams Realty
Licensed in Virginia
(434) 941-8847
For sale by agent/broker
powered by postlets Equal Opportunity Housing
Posted: Oct 1, 2010, 2:19pm PDT

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Open House this Sunday Oct 3 1-4 pm

Witt Fogleman | Keller Williams Realty | (434) 941-8847
1116 Washington St, Vinton, VA
Solid brick home, zoned commercial-use for business or as a home. Hardwood floors, fireplace, sun-room,breakfast nook, large bedroom upstairs. Subway
offered at $119,900
Year Built 1950
Sq Footage 1,627
Floors 2
Parking Car garage
Lot Size 50,529 sqft
Maint $0 per month
DESCRIPTION

Solid brick home, zoned commercial-use for business or as a home. Hardwood floors, fireplace, sun-room,breakfast nook, large bedroom upstairs. Subway tile in downstairs bath. Two car detached garage-privacy fencing, paved drive
see additional photos below
PROPERTY FEATURES

– Can be residential or commercial
– Close to town
– Fireplace
– 2 Car garage
ADDITIONAL PHOTOS


Front of home

Basement

Bedrooms

Bedrooms
Contact info:
Witt Fogleman
Keller Williams Realty
Licensed in Virginia
(434) 941-8847
For sale by agent/broker
powered by postlets Equal Opportunity Housing
Posted: Oct 1, 2010, 11:47am PDT

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What Does it Mean to be a Team Member?

I read Ricki’s blog, and thought maybe I could provide an additional point of insight on this topic.

I have played sports all my life. I love them and continue even today. I grew up playing football and now play hockey and softball. I have been captain for several teams, having to make decisions on who plays where and when. One lesson I have learned is to know your position/roll on the team. Be realistic on what you bring to the team and how you best enhance the team. When I first started playing hockey, I knew I wasn’t as good as some of the other players. I didn’t score much and even ad some problems keeping up with the faster skaters. I made a realistic evaluation of my skills and created a plan for 1) How to improve 2) how to best help the team at that time

Within a couple of seasons I was centering the top line (in hockey forwards who play together are called a line) for my team and leading the league in assists and scoring a goal every other game. But more importantly, the team was doing very well. We played in the league championship 4 years in a row winning 2 times.

How does this pertain to real estate? If you are a buyers agent, then be the best buyers agent you can be! If you have a gift or a passion for a portion of your business, then bring it! My partner is great at networking in person. She can go to a party and get business. I am better at getting our clients web exposure. That doesn’t mean I don’t network. It just means we understand our roles and try to maximize them. If you make great flyers, know web design, are great with certain types of clients, what ever the skill use it for the good of the team and recognize the talents of the rest of the team.

REAL ESTATE IS A TEAM SPORT real estate is a team sport Real Estate is a Team Sport

I grew up playing basketball in school.  I was a post forward most of
the time during junior high and high school.  I learned at an early age
even in grade school what it meant to be a team member.
I think sports played a big part in my life and is helping me even
today in my business because I learned this valuable lesson.

Maybe one reason some people excel in business is because they have learned valuable lessons from Team Sports.   Real Estate is a team sport.

A Team Member will play for the team to win not just to win for themselves.

The Team will be placed in the Top Priority not the individual.                                      The ball is in your hand, now what?

The Team wins as a whole, not the individual.

The Team loses as a whole, not the individual.

The Team supports its members and is only as strong as the weakest member.

The Team Member will step into the gap for another member.  The Team Member
will do what they have to do to make the team look good.  It’s all
about the Team, not the individual; but in the end, the individuals are
recognized even more highly than they ever could have been individually
because there is strength in numbers and the whole is always greater than the sum of all its parts.

This is what it means to be a Team MemberIt means to Win!

Ricki Eichler Real Estate, your Texas Hill Country connection                www.reretx.com

511 Junction Hwy                                 Kerrville, TX                         (830)257-2520

The Bedford sky will be glowing with fireworks this 4th of July

Fireworks display at the 2008 Independence Day...
Image via Wikipedia

This weekend Bedford will be busy with all kinds of 4th of July events taking place. Pick a night and a location and enjoy!

Saturday -There are several places where you can see fireworks. The Lynchburg Hill-cats baseball team will have a show after their game.  The Hill-cats have been hot and the fireworks are a great way to end the game. The Hill-cats also play on Sunday with fireworks too.

The Parkway Marina at Smith Mountain Lake is having their annual fund raiser for the Saunders Volunteer Fire Co. Gates open at 3 pm with the band the Works playing at 5:30, followed by the fireworks at after it gets dark. There will be food, vendors, and other types of entertainment to this event with typically is attended by several thousand people each year. Watching the fireworks from you boat is a great way to end your evening.

Sunday-
Popular Forest (Thomas Jefferson‘s second home) is hosting an Independence Day Celebration. They always have great historical events and this promises not to disappoint. Sword swallowers, fife-and-drum corps, Native American crafts, historic carfts, performances by the Virginia Academy of Historic Dance, food vendors, and pony rides  will all be there. All of this for only $5 for adults and free for children.

Patric Henry’s home Red Hill will also have an all day event, with children;s games, face painting, historical recreations, and a home tour. Fireworks will start ar dark and costs is only $10 per vehicle.

The City of Bedford in conjunction with the National D-Day Memorial will have their annual fireworks display. You can see their fireworks from almost anywhere in town, however the best places are the Bedford Welcome Center and Liberty Lake Park. This year offers a new twist. Rangers will lead a hike up Sharp Top mountain to see the sunset and the fireworks from Sharp Top’s summit.

Liberty University will also have  “Celebration on the Mountain”. Which is a day long event similar to their annual event which is a change this year due to the construction going on at Williams Stadium. This event will be held at their snowplex with special discount price for skiing and fireworks will be launched from Candler’s Mountain.

The weather is great, call some old friends, meet some new friends, and see some great fireworks.

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Scott Fogleman e-Pro Bedford, VA real estate

Scott Fogleman of Scott & Bond Inc.  has successfully completed the e-PRO Technology Certification Program course to become one of a select few real estate professionals to earn the prestigious certification offered by the National Association of REALTORS®.

The e-PRO certification course is an educational program unlike any other professional certification or designation course available, comprehensive and interactive. It is specifically designed to provide real estate professionals with the technology tools needed to assist consumers in the purchase or sale of a home.

The e-PRO course was recently totally revised to include segments on Social Networking and Web 2.0 marketing.

Today on the Internet, information about homes, neighborhoods, real estate professionals, the home buying and selling process, lending, you name it, are all available and searchable, at everyone’s fingertips,” said Scott Fogleman of Scott & Bond Inc. . “Being that the real estate business is really an information based business, Web 2.0 will have a major impact on the conduct and process of real estate related objectives by consumers.”

With more than 80% of consumers beginning their real estate research on the Internet, e-PRO certified agents have the experience and expertise to meet the demands of today’s buyer and seller.

The exclusive e-PRO certification course is presented entirely online and certifies real estate agents and brokers as Internet professionals. Because of its innovative design, students are able to complete the course at their own pace, when and where they want, via any Internet connection. The course is designed to help REALTORS stay at the leading edge of technology and identify, evaluate and implement new Internet business models.

Once completed, the e-PRO certified real estate professional joins the ranks of a special community of highly skilled and continuously trained professionals who provide high quality and innovative online-based real estate services.  Consumers can identify the e-PRO through the exclusive e-PRO Internet Professional logo.

“The real estate industry has undergone a fundamental change over the past several years,” Scott Fogleman said. “A majority of consumers are taking the time to conduct their own research prior to contacting an agent. In turn, real estate professionals must be knowledgeable of how technology can assist them in serving the needs of the buying and selling public. It only makes sense to work with a REALTOR® who is up to speed on today’s technology.”

Both the content and the delivery platform were created by the San Diego-based technology company InternetCrusade®. The course instructs participants in the professional use of e-mail, the development of an interactive Web site, and the use of online research tools including Social Media and Web 2.0 instruction. Graduates use the skills they’ve acquired to provide clients information on properties for sale, local communities, and the local real estate market.

For more information, e-mail Scott Fogleman at scott@scottfogleman.com or call 434-941-8847

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What do you mean what the seller paid is immaterial?

It just doesn’t matter, it just doesn’t matter, it just doesn’t matter!

Two transactions recently where people are sooo concerned with the price the seller paid for the home. On the first transaction we represented the buyer, an analytical person who wants as much information as he can get. He researches a property for some time, speaks with the neighbors, pours through data..and after some serious thought, makes an offer. So far his offers have been low and have been turned down, the homes he has considered have sold for a higher price than his offer.  In the most recent one, the seller offered to sell the home for how much they currently owe. He feels this is more then what he wants to offer, so here we are, the last day of the tax rebate, $3500 difference on price. Yes, you are reading it correct, this client qualifies for a $8,000.00 tax rebate. This client is giving up $5,000 because he feels the current owners can’t owe that much and should be able to reduce their price.

Another transaction-We have listed a property a client purchased at foreclosure. He invested time and money into the property with the intention to make a profit. Well, along comes a buyer who wants to make an offer, but his offer is going to be based upon what the current owner paid. Since its present owner has only has the property for a short period of time, it hasn’t been released in tax records. His agent asked us several times “How much did the seller pay?” To which we responded, “regardless of what the current owner paid, this is a prime real estate, in one of the best neighborhoods in the area, and we feel the current asking price is more than reasonable for a home in its current condition,” as it does need some minor repairs. Somehow this buyer found the amount paid and made an offer. His offer doesn’t cover how much the owner currently invested (after commissions, repairs, legal fees, cost of the property.) I called his agent and informed him ”we have another offer coming in today, your clients offer was too low and they should make their best offer” said, “I have been in the business for 24 years and due to the price paid by the seller, they did make their best offer.” I politely suggested to this agent “do the math”. Needless to say, the other  buyer’s offer was accepted

Here is my point, does it really matter what the seller paid? NO! The value of the home is not in direct correlation to what the current owner paid. If someone paid too much for a home, does that mean they should get more for that home?  NO! The intrinsic value of a home does not adjust due to what a seller paid!

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