Haymarket Homeowner Jan/Feb 2014

Haymarket Homeowner January | February 2014

UPSCALE LIVING IN BEAUTIFUL HAYMARKET, GAINESVILLE AND BRISTOW, VIRGINIA

INSIDE THIS ISSUE

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Haymarket and Gainesville saw a substantial rise in upscale home prices and home sales in 2013 Three ways to improve your home while supporting the local community Top 5 New Year's resolutions for dogs Bryan's favorite game day recipe Beat the rush: 5 reasons to sell now 2013 real estate summary

BRYAN GARCIA "Haymarket Real Estate Guy" Associate Broker EXIT Heritage Realty EXITgarcia.com 703-517-2574

Introducing Haymarket Homeowner: a newsletter dedicated to upscale living in Haymarket, Virginia and beyond

W

elcome to the first issue of Haymarket the discerning homeowner. Here you will find Homeower—a bimonthly newsletter real estate market trends, featured properties, dedicated to the upscale and luxury housing community highlights, local business spotlight, market in Haymarket and surrounding towns. tips and advice and my personal favorite picks.

As a long time resident of Haymarket and While this newsletter focuses on upscale over twelve years of real estate experience residential living in the Haymarket area, my in the area, I have watched our real estate expertise is certainly not population expand tremendously limited to this demographic. I have Haymarket with the development of several had the good fortune of working population grew spectacular communities. with many clients over the years These communities have in other counties, in all price some of the finest homes with ranges, both residential and from 5,702 residents commercial—which has all exceptional amenities and in 2000 to 24,034 the most scenic vistas in all contributed to my experience of Prince William County and and extensive knowledge in the current beyond. real estate business.

With this new population has Please feel free to contact me if you come more development—fields turned into have an interest in contributing an article to shopping plazas, roads widened and several Haymarket Homeowner. new schools and churches built. As much as I Bryan Garcia, Associate Broker tend to resist change, I’ll have to admit I like EXIT Heritage Realty having three frozen yogurt shops to choose BryanGarcia@exitheritage.com from, extraordinary pastries and a new movie theater in town—it’s all good.

Just Launched!

Best of all, with growth comes new families, new culture, talent, business and HaymarketHomeowner.com more—all contributing to the vast richness A website dedicated to the upscale and luxury of our area. This has prompted me to create housing market in the Haymarket area.

Haymarket Homeowner—a publication for

+321.5%

HOMES

COMMUNITY

MARKET WATCH

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Haymarket saw a

+30.5%

increase in the Median Sales Price of 4 bedroom houses in December 2013 compared to December 2012

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Trending Towards Spring 2014

Average Days on the Market (DOM) for a 4 Bedroom House Gainesville April 2011 .................. 76 Days April 2012 .................. 35 Days April 2013 .................. 18 Days Bristow April 2011.................. 38 Days April 2012 .................. 73 Days April 2013.................. 23 Days Haymarket April 2011 .................. 52 Days April 2012 .................. 36 Days April 2013 .................. 82 Days Source: RBI Real Estate Business Intelligence

What's selling in my neighborhood?

Get a free up-to-date MARKET SNAPSHOT emailed to you with: • Full details about all the homes for sale or recently sold in your neighborhood • The prices they sold at • Number of days they were on the market Email your request to: BryanGarcia@exitheritage.com

MARKET WATCH

Haymarket and Gainesville saw a substantial rise in upscale home sale prices and number of sales in 2013 With the rise and fall bedroom homes that sold. In a December of interest rates and 2012 and December 2013 comparison, the uncertainties of Haymarket had a +40% increase with 10 the national economy, sales in December of 2012 and 14 in 2013. both Haymarket and Gainesville had a +33.3% increase with Gainesville have fared well over the past 15 in 2012 and 20 in 2013. Keep in mind, couple of years—at least in the real estate December is one of the slowest months in market. Haymarket and Gainesville saw any market. a significant increase in the median sales Another indicator of improvement is price as well as the number of homes sold the DOM or the number of days a house for four bedroom houses, which generally is on the market before it sells. As we near fall into the upscale or luxury category. a new spring market, the figures on the The proof is in the numbers. Based left show the month of April for the past on data collected from RBI Real Estate three years and the DOM for that month.

Business Intelligence, the Haymarket Median Sales Price (4 bedroom) figures showed a substantial rise in these two towns.

I took a snapshot of the Median Sales Price—from January of 2012 to December of 2013—for four bedroom houses. While sold prices tend to fluctuate up and down monthly during any given period, a two year Gainesville Median Sales Price (4 bedroom) comparison provides the broad picture indicating a steady rise.

Haymarket had a +30.5% increase in its four bedroom median sale prices moving from $446,250 in December 2012 to $582,500 in December 2013.

Gainesville saw a +12.2% increase moving The trend is showing that four bedrooms from $396,800 to $445,000 in those same houses have generally sold faster each year. months.

Haymarket did have a high number in You will see in the charts that April of 2013 but things picked up quickly Haymarket had more fluctuation than as the June 2013 Days on the Market Gainesville. This could be due to the fact (DOM) figure was down to 28 days. that inventory was low for four bedroom Please note, some of the figures in this homes. Either way, there is still an upward report compare December 2012 numbers trend over the last couple of years. to December 2013 numbers and do not Another good sign for Haymarket necessarily represent the 2012 to 2013 and Gainesville is the number of four yearly comparison.

COMMUNITY

Three ways to improve your home or prepare it for sale AND give back to the local community public at a forty to ninety percent discount off retail prices. Those proceeds then go towards the building program.

Some real estate agents from EXIT Heritage Realty in Haymarket recently spent some time volunteering at the Habitat for Humanity Prince William County. EXIT Realty has a long history with Habitat for Humanity and has been an enthusiastic corporate sponsor of several home builds over the years.

The mission of Habitat for Humanity is to eliminate poverty housing and make decent shelter a matter of conscience and action. The folks at EXIT have learned first hand how this worthwhile organization can always use volunteers and is in great need of household items and supplies.

Whether you are thinking about selling your home or just getting ready to do some Spring cleaning, here are three recommendations to add value to your home or prepare it for sale while also supporting local organizations like Habitat for Humanity.

1. Update Your Kitchen The added value of kitchen remodeling varies from home to home. That said, the kitchen is still the heart of the home and most buyers will say it is the most important. A full remodel isn’t necessary, but some changes like replacing appliances, changing out counter tops, sinks or cabinets and updating lighting can increase value.

All of these replaced items can be donated to Habitat for Humanity if they are working and in decent condition. Habitat does have guidelines—like appliances should be five years old or less—so check the website at Habitatpwc.org for details.

Items that cannot be used directly in home building are sold at ReStore to the general

2. Declutter Cleaning out is always a great way to start the new year. If you are thinking of selling, one big thing home buyers look for is storage space. Make sure your closets, garage and kitchen cabinets are organized neatly and not overflowing. Yes, buyers do open cabinets! Gather unwanted clothes and accessories in decent condition and donate them. You can drop these items at Goodwill or the Salvation Army in Manassas. Winter coats, especially for children, are in high demand. Visit OneWarmCoat.com for local coat drives.

For the kitchen, if you have an abundance of canned goods and food supplies

not expired, box them up and bring them to the Haymarket Regional Food Pantry on Washington Street in Haymarket.

Items from your garage and basement from past renovation projects may also be of great value to Habitat for Humanity.

Doors and windows, unupholstered furniture, plumbing supplies, electrical wiring and flooring can all be used.

3. Don't Decorate, UNdecorate Whether you’re selling, remodeling or just simplifying your living space, excessive decorating reflecting your personal style and an overabundance of ‘things’ should be removed. This will improve the overall appearance of your home and let potential buyers envision the space as their own.

You may not be ready to part with some of these personal treasures so store them neatly in boxes tucked away. If you have no problem letting go, support local businesses while earning some extra money. The Very Thing Consignments in Haymarket or Stuff! in Gainesville will accept a wide range of household items and you’ll receive percentage of the sale. These items can also be donated to Goodwill or Salvation Army.

Visit EXITGarcia.com/Community for contact information for the organizations and businesses mentioned in this article.

Top 5 Dog New Year’s Resolutions

5 I will not suddenly stand straight up when I’m lying under the coffee table.

4 I will no longer be beholden to the word ’squirrel’.

3 I resolve to get a bite in on that doc who gives me a shot every year.

2 I will break into the pantry and decide for MYSELF how much food is ’too’ much.

And the Number 1 New Year’s Resolution made by dogs ...

1 I will NOT chase the ball until I see it leave the hand!

GAME DAY PICKS Singapore Party Drumettes These chicken wings are easy to make, taste great and are good as leftovers after game day.

INGREDIENTS: • 5 pounds of fresh or frozen uncooked (thawed) chicken drumettes and wings.

If purchasing fresh, cut off the wing tip portion of chicken wings and discard.

• 3/4 Cup Soy Sauce • 1/4 Cup Red Hot Sauce • 1/4 Cup Vegetable Oil • 1/4 Cup Honey • 1/2 Teaspoon Ginger • 1/2 Teaspoon Garlic Powder DIRECTIONS: 1. Combine all ingredients into a marinade and place into zip lock bag with chicken pieces (it may take 2 bags).

2. Refrigerate for 30 minutes or overnight.

3. Preheat oven to 425F. Spray baking dish with nonstick cooking spray or line with aluminum foil. Add chicken and brush generously with marinade.

Discard remaining marinade.

4. Bake wings, turning once for 30-40 minutes, or until done and a deep golden brown.

Enjoy!

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Phone: (703) 680-­1910 Cell: (540) 222-­9279 Email: rfarrell@gmmllc.com

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Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend.

Programs, rates, terms and conditions are subject to change without notice.

TIPS & ADVICE

Beat the Rush: 5 Reasons to Sell Now

1. Less Competition Housing supply shrinks during the winter.

The choices for buyers are limited. Don't wait until the spring when all the other potential sellers in your neighborhood put their homes up for sale.

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SOLD MARCH 2013 This is how many homes sold in March of 2013 (meaning they closed in March so they were on the market during the winter months): Haymarket: 45 homes Gainesville: 47 homes Bristow: 52 homes

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Many home sellers feel that Spring (April to June) is the best time to place their home on the market as buyer demand increases at that time of year. However, Winter and early Spring have their own advantages. Here are five reasons not to wait and to consider selling now:

2. The Process Will be Quicker One of the biggest challenges during the 2013 housing market was the length of time from contract to closing. Due to rising interest rates, banks have been inundated with both purchase and refinancing loan requests. Both of these slow in the winter cutting timelines and frustration to both buyers and sellers.

4. The Serious Buyers Are Out In the middle of winter, only those purchasers who are serious about buying a home will be in the marketplace. You and your family will not be bothered and inconvenienced by mere 'lookers'.

3. Now is a Good Time to Buy

5. It's Time to Move On

If you are moving up to a more expensive home, consider doing it now. Prices are projected to appreciate by over 25% from now to 2018. You can also lock-in your 30 year housing expense with historically low interest rates right now. There is no guarantee rates will remain at these levels in months or years to come.

Look at the reason you are considering selling in the first place and decide whether it is worth waiting. What is your reason? A new job, commute, downsize or to be closer to family? Is it worth it to you to wait until Spring or even further out? If you are ready now, then selling now before the busy spring market has advantages.

Visit our website:

StorageinHaymarket.com We sell moving supplies!

Dave Wolf, Property Manager haymarketselfstorage@live.com 6600 James Madison Highway Haymarket, Virginia 20169 703-754-0445

Ask Bryan...

What are HYPERLOCAL real estate market trends and how can they affect my home value?

We often hear about national real estate market trends in the news or regional trends in areas like Metro DC or Northern Virginia. In general, these trends have been positive over the past two years, which is good.

The real estate market, however, varies by region and can differ considerably from town to town, even neighborhood to neighborhood.

Therefore, the value of every home is different. The data and statistics in this report is HYPERLOCAL which means I pull information specific to our towns (Haymarket, Gainesville and Bristow) and neighborhoods.

To give you an idea of the differences, here is a comparison for one year for these three regions (ALL home types): Median Sold Price 2013 Year End Percentage of Change: Mid-Atlantic Region: +7.14% Prince William County: +12.7% Gainesville, VA: +8.09% Upon request, I can provide data specific to your neighborhood and home. Email your request to: BryanGarcia@exitheritage.com

HOME SALES

2013 Real Estate Sales Summary Here are the real estate sales Year End Results for ALL home types in Haymarket, Gainesville & Bristow and the percentage of change from 2012:

2013

HAYMARKET

GAINESVILLE

BRISTOW

$445,000 +.23%

$399,950 +8.09%

$365,000 +4.29%

DOM (Days on Market) % Change from 2012

63 -21%

46 -16.36%

29 -25.6%

Number of Units Sold % Change from 2012

503 +18.35%

621 +4.47%

551 +14.55

Median Sales Price % Change from 2012

What's the difference between Median and Average Sales Price?

The Median Sales Price, when talking about real estates sales, is generally more accurate than the Average Sales Price.

The Average Sales Price is the sum of the total dollar volume divided by the total units sold. The Median Sales Price is the sales price at which half of all sales are above and half of all sales are below. It's helpful to think of it as the "mid-point." The Median Sales Price is often a better indication of the market than the Average Sales Price, especially when a few sales may distort the Average Sales Price.

Here's an example: Ten houses are sold in an area. One sold for $1,000,000 and nine sold for $250,000. The Average Sales Price would be $325,000 and the Median Sales Price would be $250,000.

Haymarket Homeowner UPSCALE LIVING IN BEAUTIFUL HAYMARKET, GAINESVILLE AND BRISTOW, VIRGINIA

Haymarket Homeowner is published bimonthly

by Bryan Garcia, Realtor®. It is printed by Piedmont Press of Warrenton, VA and mailed to over 3500 households in Haymarket, Gainesville and Bristow, Virginia.

For information about advertising or articles, contact BryanGarcia@exitheritage.com. © Copyright 2014 Bryan Garcia | Exit Heritage Realty. This information is solely advisory, and should not be substituted for legal, financial or tax advice. Real estate market information is obtained from third party sources. Publisher is not liable for accuracy of any data or statistics.

If your home is currently listed with another broker, this is not intended as a solicitation of that listing.

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Expertise

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BryanGarcia@exitheritage.com www.EXITgarcia.com EXIT HERITAGE REALTY Independently Owned and Operated

15030 Washington Street Haymarket, VA 20169 | 703-753-9100

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Haymarket Homeowner UPSCALE LIVING IN BEAUTIFUL HAYMARKET, GAINESVILLE AND BRISTOW, VIRGINIA

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BRYAN GARCIA Associate Broker www.EXITgarcia.com BryanGarcia@exitheritage.com 703-517-2574

EXIT HERITAGE REALTY

15030 Washington Street Haymarket, VA 20169 703-753-9100 Independently Owned and Operated

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