Winter Home Buying Guide by storyhouserealestate

Things To Consider When

Buying a Home

WINTER 2022

EDITION

Table of Contents 4

About Story House

Meet Our Agents

Service Comparison

Reasons To Buy a Home This Winter

Expert Insights for Today’s Homebuyers

What Does the Future Hold for Home Prices?

Why You Shouldn’t Be Upset by 4% Mortgage Rates

The Non-Financial Beneﬁts of Homeownership

Key Terms To Know When Buying a Home

The Importance of the Appraisal and Inspection

The Path to Homeownership

Is a 20% Down Payment Really Necessary?

Things To Avoid After Applying for a Mortgage

Is Oﬀering Asking Price Enough?

5 Tips for Making Your Best Oﬀer

Our Personal Commitment to You

Happy Clients Say It Best

STORY HOUSE REAL ESTATE is a boutique residential Real Estate brokerage operating in the Central Virginia area, focused on offering exceptional service. Our success lies in our advocacy for our clients’ interests. Our team is dedicated to fulfilling our clients’ dreams of buying, selling, maintaining and improving their real estate assets. We have built our reputation on hard work and dedication; our goal is to be our clients’ Real Estate Advisor for life.

INFO@STORYHOUSERE.COM | 434-260-1435 2110 IVY ROAD, CHARLOTTESVILLE, VA 22903 WWW.STORYHOUSERE.COM

ABOUT Story House Real Estate was founded on our belief that every home and every buyer and seller has a unique story to tell. With every new contact we receive, a page is being turned. Whether it is new home buyers just beginning one of the most exciting new chapters in their lives, or the retiree moving into the last ch apter of homeownership and downsizing, we cherish the ability to be a part of your journey. Story House Real Estate recognizes that no transaction is quite the same as the one before it. That is why we have procured a team of the best professionals in real estate

that are dedicated to helping you navigate the next chapter of your story. One thing that hasn’t been rewritten is our mission statement “to delight and surprise our clients with the highest level of customized service.” Our standard is to deliver more than you would expect from a real estate company, putting together the small details to make sure that your transition to the next chapter in life is smooth, stress-free, and dare we say, exceptional. We look forward to helping you write the next chapter in your story!

Buying a primary residence is a major financial and emotional decision. For most home buyers, the purchase of a primary residence is one of the largest financial transactions they will ever make. Tightened inventory is impacting the home search process. Due to suppressed inventory levels in many areas, buyers are typically purchasing more expensive homes as prices increase. More than half of all buyers find the most difficult task in the current market is actually finding a home to buy. The most important value our agents bring to the table is not helping buyers find a home, but helping buyers find the RIGHT home with the BEST terms. By using strong negotiation skills, our agents find the BEST price and contract terms for our clients. We can also seek out off-market homes and attempt to be the first in the area to be informed about new homes coming to the market.

ERRIN SEARCY ASSOCIATE BROKER, VICE PRESIDENT OF SALES CRS, ABR, REALTOR® errin@storyhousere.com (434) 216-6358 Errin graduated from Virginia Commonwealth University with a B.S. in Psychology and Education. She has been a REALTOR® in the area since 2005 and has deep roots in Charlottesville. Errin prides herself on great communication and the ability to navigate the complex and often emotional sales process with her clients. She is married to her husband Bryan, who is an educator and coach, and they have two children, Charlie and Abby. In her spare time she loves to run, knit, cook, and spend time at all the wonderful local festivals, wineries, and restaurants that Charlottesville has to offer. The most tenured of our Sales Agents, Errin is aware of all available properties for sale (as well as several that are available off-market), her knowledge of Charlottesville real estate is unparalleled.

JOSH WHITE ASSOCIATE BROKER, SALES PARTNER CRS, REALTOR® josh@storyhousere.com (434) 216-6311 Josh graduated with a Bachelor’s degree in History from James Madison University and went on to get his Master’s in middle school social studies education at North Carolina State University. He was a teacher, coach, athletic director, and educational hiring consultant prior to making the switch to Real Estate. He began as the Transaction Coordinator on the team, consistently providing excellent service to our clients in every step of the process. He is married to Mallory, who is an architect at VMDO, and they have two beautiful girls, Libby and Maggie. He loves woodworking, home improvement, and reading a good book in his down time. He is very involved with The Point Church and is a foster parent. Josh is aware of all available properties for sale (as well as several that are available off-market), his knowledge of the Charlottesville real estate market and investment properties is extensive.

BRENTNEY KOZUCH SALES PARTNER, ABR, REALTOR® brentney@storyhousere.com (434) 216-6393 Brentney graduated from James Madison University with a B.S in Kinesiology concentrating in Sports Management and a minor in Business. After college, Brentney interned with the University of Virginia’s Athletic Department specializing in marketing and promotions. Brentney then decided to pursue a career in Real Estate! Her extensive knowledge of Charlottesville and the surrounding counties provides a strong foundation to evaluate market conditions to determine the right course of action for her buyers and investors. Brentney works with roughly 10-15 buyers at any given time and her knowledge of the Charlottesville Real Estate is exceptional. Brentney is married to her husband, Brian who works at the University of Virginia. You can find them both at all of the UVA Basketball and Football games cheering on the Hoos!!

KRISTIN SOROKTI SALES PARTNER, REALTOR® kristin@storyhousere.com (434) 216-6325 Kristin graduated with a Bachelor of Science in Wildlife Biology from Virginia Tech and pursued a long career as a wildlife and marine biologist. She then went on to earn a Master of Arts in Education and spent many years as an educator. Her time spent as the Executive Director of the Blue Ridge Home Builders Association is where she discovered a new passion for the real estate industry and building meaningful relationships in the community. She is married to Craig, a Charlottesville Firefighter, and has two children, Hailey and Miles. She loves sailing, traveling, gardening, yoga, running, and getting lost in a good book. Having been in Charlottesville for over 16 years, she is extremely familiar with the market and thrives on finding her clients their dream home!

JESSICA TRIVETTE SALES PARTNER, REALTOR® jessica@storyhousere.com (434) 216-6399 Jessica graduated with a Bachelor of Arts degree in Psychology from the University of Tennessee. After graduation, she and her husband David moved to Blacksburg, Virginia to open and operate the first of six Jimmy John’s locations in the Commonwealth. With a desire to call Charlottesville home, she and her husband moved their four children to the area as they continued to expand their franchise. Settling into the area in 2013 gave Jessica the knowledge and the foresight on what it takes to raise a happy, healthy family in the heart of the University of Virginia culture. In her spare time, she enjoys making home improvements, exercising, studying health and nutrition, reading, and focusing on anything that stimulates her creativity. Having been a part of a local family business for many years, Jessica knows the importance of open communication and providing the best customer service possible.

ZOYA CLAUS SALES PARTNER, REALTOR® zoya@storyhousere.com (434) 216-6303 Zoya began her career as a real estate paralegal after completing her Associates Degree and receiving her paralegal certificate from Blue Ridge Community College. After realizing her love for working closely with people during closings, she pursued her real estate license. Zoya was born and raised in Harrisonburg, Virginia, but soon after relocating for her husband’s job, she fell in love with the Greater Charlottesville Area. When not working, she loves spending time with her husband and traveling to new places, trying new restaurants and shopping for cool antiques. When asked about her favorite travel destination, Zoya would say Aruba because of the beautiful beaches. Zoya is also a huge reader.

VIRGIL VELASCO SALES PARTNER, REALTOR® virgil@storyhousere.com (434) 216-6553 Prior to joining Story House Real Estate, Virgil was in the property management industry. He received his B.S. in Interdisciplinary Studies at Florida International University and following his new-found love for Real Estate, he earned his sales license in Florida. When his girlfriend was approved for a PhD program at UVA, he came to Charlottesville to earn his license in Virginia as well, and is well versed in the real estate needs of the UVA health community. Outside of work, you will always find him with his friends, family and dog Riley, or sipping a good whiskey while reading a great book. Virgil was born in Cuba and is completely fluent in Spanish and is able to meet all our bilingual needs. Growing up around music, he loves to dance to a good Cuban salsa and eat great Cuban food.

ABBY SEARCY SALES PARTNER, REALTOR® abby@storyhousere.com (434) 987-7873 A native of the Charlottesville area, Abby has a great love for all things local. Having grown up in a real estate family, Abby is exited to embark on her own path with the Story House team. Alongside her mother Errin, Abby is thrilled to be able to assist with showings, client interactions, and provide a high level of customer experience. In her spare time, she enjoys hiking, cooking, writing, her involvement with The Point Church, and spending time with her cats Billy, Jill, and Missy.

service comparison We want you to be an informed consumer. We believe that when you compare our services to those of our competitors, we stand out from the crowd. Please use the following checklist to decide which broker can best handle your real estate transaction.

275 50 COMBINED TOTAL YEARS OF EXPERIENCE

36 BIDDING WARS WON IN 2021 BY OUR PURCHASERS

275 CLOSED TRANSACTIONS IN 2021

CHOOSING THE RIGHT AGENT FOR YOU

Are they a full-time licensed REALTOR®? Are they in the top 1% percent of REALTORS® in Charlottesville? Do they have experience selling homes of my style and price point? Do they have a team and systems in place for consistent closings?

Do they have full-time licensed assistants as backup? Do they have a full-time licensed transaction coordinator? Are they available for private showings during the evening? Are they available for private showings on the weekend? Do they conduct a buyer meeting to educate their clients on the home-buying process and current market conditions? Do they develop a custom and unique offer strategy to differentiate their buyers’ offer? Do they help teach their clients how to build wealth through Real Estate? Have they taken updated Real Estate courses in the last 90 days?

Do they provide daily and weekly updates on the status of a transaction? Do they provide annual real estate reviews for their client? Do they provide visual pricing tools to their buyers to ensure they do not overpay for a home? Do they have any references I can contact or testimonials from clients?

STORY HOUSE AGENT

OTHER AGENT

Reasons To Buy a Home This Winter Are you thinking of buying a home? If so, here are the top motivators that should encourage you to learn more about the homebuying process and start your search sooner rather than later. 1. Homeownership Has Many Perks Homeownership is the American dream – not just because it has tangible financial benefits, but because it also has the power to change lives. The sense of security, stability, and success homeowners feel has far-reaching impacts, especially in a time like today, where the health crisis has made having a safe space to call home more important now than ever before. As a result of the pandemic, more of us are finding ourselves prioritizing certain benefits over others. Perks like financial well-being and emotional stability and security are elements that homeownership can provide, and are beneficial in these unprecedented times.

2. Mortgage Rates Are Climbing Early 2021 saw the lowest mortgage interest rates in recorded history. This season; however, rates are beginning to rise. When mortgage rates rise, it impacts affordability. Expert projections for 2022 are showing an increase in mortgage rates, meaning it will cost more to buy a home if you wait. While everyone moves through the homebuying process at a different pace, it’s more important than ever to put your plans in place and begin working with a trusted advisor. If you’re thinking about buying a home sometime over the next year or two, learning what it takes to purchase sooner rather than later may be your most affordable option. And when you’re educated on the process and working with an agent at your side, you can make the most informed decision about your next steps toward homeownership.

3. Home Prices Are Going Up The recent surge in home prices is the result of more active buyers in the market than there are homes for sale. And although data indicates more listings are expected to be available for buyers this winter, the shortage of homes on the market won’t be solved overnight. Experts agree, prices will keep rising while demand is greater than supply. As Danielle Hale, Chief Economist at realtor.com, puts it: “Home prices continue to rise due to a mismatch between supply and demand... This means that housing affordability will be an increasingly important consideration for buyers, but with rents rising by 13.6%, buying may be the relatively more affordable housing option for some.” Making the decision to buy now gives you a chance to purchase your home before prices increase further, and take advantage of today’s affordability, which won’t last forever.

Rents Are Rising

Census data also shows the median monthly rent is rising year after year (see chart below):

Median Asking Rent Since 1988

Census

To escape that cycle, consider purchasing a home so you can lock in your monthly mortgage payment and avoid future increases. Why pay more for less? Instead, invest in homeownership, which acts as forced savings that comes back to you in the form of equity, boosting your long-term wealth gain.

Bottom Line Let’s connect if you’re ready to learn more about the beneﬁts and rewards of homeownership. Having an expert on your side is the best way to make your dream a reality this season. 12

Expert Insights for Today’s Homebuyers Experts throughout the industry agree, if you’re thinking about buying a home, it’s a great time to invest in homeownership, even in a competitive market. Here's what they have to say about the latest in real estate.

“ “

Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year.

“

If you ﬁnd something you like, that’s within your budget, and you plan to hold onto it for a few years, then buying a house might be cheaper than renting.

“

Homeownership is regarded as causing an improvement in the quality of life of a typical family. It is the most common method for such a family to build wealth…that can be used for retirement or other needs, including helping the next generation. Such wealth creation therefore provides a major social as well as economic beneﬁt.

- Lawrence Yun, Chief Economist, National Association of Realtors (NAR)

By some measures, house prices seem high, but the recent price increases make sense from a supply and demand perspective. - Bill McBride, Author, Calculated Risk

- Ralph McLaughlin, Chief Economist, Kukun

- Don Layton, Senior Industry Fellow, Joint Center for Housing Studies at Harvard University

What Does the Future Hold for Home Prices? According to the Home Price Insights Report from CoreLogic, nationwide, home prices increased by 18% over the last 12 months. Those rising home prices can spark many questions for potential homebuyers, like why are they climbing so quickly and how long can this last? Where Will Home Values Go From Here? The dramatic rise in home prices is a direct result of more buyers in the market (demand) than houses available for sale (supply). When demand is high and supply is low like it is right now, prices naturally rise. But today’s buyers are wondering what the future holds. Will prices continue to rise with time, or should you expect them to fall? To answer that question, let’s ﬁrst look at a few terms you may be hearing right now. •

Appreciation is an increase in the value of an asset.

•

Depreciation is a decrease in the value of an asset.

•

Deceleration is when something happens at a slower pace.

It’s important to note home prices have increased, or appreciated, for nearly 10 years now. According to Greg McBride, Chief Financial Analyst at Bankrate, home prices are projected to continue increasing, too: “… Waiting in expectation that prices will fall seems unlikely to pay oﬀ.”

A Look at Expert Projections The chart below shows 2022 price forecasts from various industry experts. By averaging all projections, a 5.1% home price appreciation is expected in 2022. While this isn’t the record-breaking rate of over 18% appreciation from the past year, it’s a continued increase, just at a slower pace. This means experts forecast a deceleration in prices, but not depreciation. So, home prices are projected to continue increasing next year, and that’s a direct result of low supply and high demand. The good news for prospective buyers is you can rest assured knowing your investment in your home will be an asset that increases in value over time, growing your net worth.

2022 Home Price Forecasts Based on Expert Projections

Average of All Forecasts: 5.1%

This chart does NOT mean home values are dropping. It means appreciation is slowing down, but predictions expect home values to continue to rise.

Bottom Line Don’t expect a drop in home prices next year – experts say it won’t happen. Instead, think about your homeownership goals and consider purchasing a home before prices rise further. 15

Why You Shouldn’t Be Upset by 4% Mortgage Rates With the average 30-year ﬁxed mortgage rate climbing above 3%, rising rates are one of the biggest topics of discussion in the housing market today. But, as a homebuyer, what do 4% mortgage rates really mean? Today’s Rates Still Give Buyers Great Opportunity Buyers don’t want mortgage rates to rise, as any upward movement increases your monthly mortgage payment when you purchase a home. But it’s important to put today’s average mortgage rate into perspective. Even though rates today are climbing back into the 4% range, they’re still incredibly competitive. To truly give you the full picture, take a look at the last 50 years (see graph below). Looking back, today’s rate is outstanding by comparison.

Today’s Rate Is Lower than the Average in Each of the Past 5 Decades Based on historical data from Freddie Mac

TODAY

Freddie Mac

What Does This Mean for You? Being upset that you may have missed out on sub-3% mortgage rates is understandable. However, it's important to realize that buying now still makes sense as experts project rates will continue to rise. As Mark Fleming, Chief Economist at First American, explains:

“Rising mortgage rates, all else equal, will diminish house-buying power, meaning it will cost more per month for a borrower to buy ‘their same home.’” In other words, the longer you wait, the more it will cost you. Being educated and informed on the homebuying process is incredibly important today, so you can make the best possible decision about when to purchase a home.

Bottom Line While it’s true today’s average mortgage rate is higher than it was a few months ago, 4% mortgage rates shouldn’t deter you from your homebuying goals. Historically, today’s rate is still low. Consider this an opportunity rather than a hurdle. Let’s connect so you can lock in a great rate now.

The Non-Financial Benefits of Homeownership There’s no denying the financial benefits of homeownership, but what’s often overlooked are the feelings of gratitude, security, pride, and comfort we get from owning a home. This year, those emotions are stronger than ever. We’ve lived through a time that has truly changed our needs and who we are, and as a result, homeownership has an entirely new meaning for many of us. According to the 2021 State of the American Homeowner Report by Unison: “Last year, staying home became a necessity and that caused many homeowners to have renewed gratitude for the roof over their head.” That’s because, over the past year and a half, we’ve spent more time than ever at home: working, eating, schooling, exercising, and more. The world around us changed almost overnight, our needs shifted, and our shelters became a place that protected us on a whole new level. The same study from Unison notes:

• 91% of homeowners say they feel secure, stable, or successful owning a home • 64% of American homeowners say living through a pandemic has made their home more important to them than ever

• 83% of homeowners say their home has kept them safe during the COVID-19 pandemic As we’ve learned throughout this health crisis, homeownership can provide the safety and security we crave in a time of uncertainty. That sense of connection and emotional stability genuinely reaches beyond just the ﬁnancial aspect of owning a home.

Bottom Line If you’re considering buying a home, it’s not entirely about the dollars and cents. Don’t forget to weigh the non-ﬁnancial beneﬁts that may truly change your life when you need it most. 18

KEY TAKEAWAY

If you’re looking for a home but you’re still having trouble ﬁnding one, hang in there. Homeownership is a worthwhile and life-changing goal. The key is sticking with your search, working with your agent, and trusting the process.

The Importance of the Appraisal and Inspection When it comes to finding the home of your dreams, it’s easy to get emotionally attached even before your offer is accepted. In a competitive market like today’s, some buyers wonder whether they should waive the appraisal and inspection in their offer to improve their chances of getting the home. But is that the best move? Here’s a breakdown of why getting an appraisal and an inspection can potentially save you a lot of time, money, and headaches down the road.

The Home Appraisal The appraisal is a critical step for securing a mortgage on your home. When you apply for a mortgage, an unbiased appraisal – typically required by your lender – is the best way to verify the current value of the home. An appraisal ensures the lender doesn’t loan you more than what the home is worth. As Home Light explains: “… lenders typically require an appraisal to ensure that your loan-to-value ratio falls within their underwriting guidelines.” When buyers are competing like they are today, bidding wars and market conditions can put upward pressure on prices. A buyer’s contract price may end up higher than the value of the home. This is known as an appraisal gap. In the current market, it’s common for the seller to ask the buyer to make up the diﬀerence if this occurs. That means, as a buyer, you may need to be prepared to bring extra money to the table if you really want the home.

The Home Inspection Like the appraisal, the inspection is important because it gives an impartial evaluation of the home. While the appraisal determines the current value of the home, the inspection determines the current condition of the home. As the American Society of Home Inspectors notes: “Home inspections are the opportunity to discover major defects that were not apparent at a buyer’s showing … Your home inspection is to help you make an informed decision about the house, including its condition.” If there are any concerns during the inspection – an aging roof, a faulty HVAC system, or any other questionable items – you have the option to discuss potential issues with the seller. Your real estate advisor can help you navigate this process and negotiate what, if any, repairs need to be made before the sale is ﬁnalized. Keep in mind, home inspections are critical because they can shed light on challenges you may face as the new homeowner. Without an inspection, serious and sometimes costly issues could come as a surprise later on.

Bottom Line The appraisal and the inspection are both important in order to protect your best interests as a buyer. Work with your trusted real estate advisor so you have an expert guiding you throughout the entire process. 22

Is a 20% Down Payment Really Necessary? There’s a common misconception that, as a homebuyer, you need to come up with 20% of the total sale price for your down payment. But is that really how much you have to save? A survey by Lending Tree asks buyers what’s keeping them from purchasing a home. Over half of those surveyed say their biggest hurdle is the ability to afford a down payment. That may be because those individuals assume a 20% down payment is necessary. While putting more money down if you’re able can benefit you as a buyer, putting 20% down isn’t always required. According to the latest Profile of Home Buyers and Sellers from the National Association of Realtors (NAR), the median down payment hasn’t been over 20% since 2005. It may sound surprising, but today’s average down payment is only 13%. That number is even lower for first-time homebuyers, whose average down payment is only 7%. 24

The most damaging down payment myth—since it stops the homebuying process before it can start—is the belief that 20% is necessary. - Freddie Mac

Common Misconception: 20%

Median Down Payments Today’s median down payment is less than 20%

NAR

What Does This Mean for You? If you’re thinking of buying a home, it’s important to know you don’t always have to put 20% down. And while saving for any down payment amount may feel like a challenge, keep in mind there are programs for qualified buyers that allow a down payment as low as 3.5%. There are also options like VA loans and USDA loans with no down payment requirements for qualified applicants. To understand what's available, we suggest looking online to find resources.If you’re interested in learning more about down payment assistance programs, information is available through sites like downpaymentresource.com. Be sure to also work with a real estate advisor from the start to learn what you may qualify for in the homebuying process.

Bottom Line Don’t let down payment myths keep you from hitting your homeownership goals. If you’re looking to buy a home, let’s review your options together. 25

Is Offering Asking Price Enough? If you’re hoping to buy a home in today’s highly competitive market, it’s important to make your offer stand out. If you’ve gotten advice from someone who’s purchased a home before, know that what’s worked in the past may not ring true anymore. Today’s buyers shouldn’t shop for a home and expect to negotiate a lower sales price. In a typical housing market, buyers try to determine how much less than the asking price they can offer and still get the home. From there, the buyer and seller typically negotiate and agree on a revised price somewhere in the middle.

Today is diﬀerent. The current housing market is anything but normal. According to the National Association of Realtors (NAR), homes today are: •

Receiving an average of 3.6 oﬀers

•

Selling in a median of just 18 days

This is due, in large part, to the fact that there just aren't enough homes available for the number of buyers who are eager to purchase them. Low supply and high demand means homes often sell for more than the asking price. In some cases, they sell for a lot more.

You may need to rethink how you look at a home’s asking price. If you’ve found your dream home, you need to be realistic about today’s housing market and how that impacts the offer you’ll make. Offering below or even at a home’s asking price may not cut it right now. Currently, the asking price is often the floor of the negotiation rather than the ceiling. That’s important to keep in mind as you work with your agent to craft an offer. 27

More homes may be on their way, giving you more options. If you’re having trouble competing against other buyers, there is good news. There are some signs more sellers are about to enter the market. George Ratiu, Manager of Economic Research for realtor.com, says: “Recent survey data suggests the majority of prospective sellers are actively preparing to enter the market this winter.” As a buyer, that means more homes will likely be listed this season, which gives you hope for more options. Just remember, you still need to be prepared to make a competitive oﬀer if you really love the home. Here’s a look at the percent of oﬀers over asking price, so you can get a feel for what to expect.

Percent of Offers Above Asking Price

NAR

Bottom Line Even if more sellers list their homes this season, it will still be a highly competitive market. Be ready to act quickly when you find the right home for you. Then, let’s work together so you can submit a strong offer based on today’s current conditions. 28

5 Tips for Making Your Best Offer As a buyer in a sellers’ market, you may feel like you’re stuck between a rock and a hard place. When you’re ready to make an offer on a home, remember these five easy tips to rise above the competition. 1. Know Your Budget Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it: “This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.” Showing sellers you’re serious can give you a competitive edge. It enables you to act quickly when you’ve found your perfect home.

2. Be Ready To Move Fast Speed and the pace of sales are contributing factors to today’s competitive housing market. According to the Existing Home Sales Report from the National Association of Realtors (NAR): “Eighty-two percent of homes sold in October 2021 were on the market for less than a month.” When homes are selling fast, staying on top of the market and moving quickly are key. A skilled agent will do everything possible to ensure you see the latest listings and help you submit your best oﬀer as soon as you ﬁnd the perfect place to call home. 29

3. Lean on a Real Estate Professional No matter what the housing market looks like, rely on a trusted real estate advisor. As Freddie Mac says: “The success of your homebuying journey largely depends on the company you keep. . . . be sure to select experienced, trusted professionals who will help you make informed decisions and avoid any pitfalls.” Agents are experts with unique insight into what’s worked for other buyers in your area and what sellers may be looking for in an oﬀer. It may seem simple, but catering to what a seller may need can help your oﬀer stand out.

4. Make a Strong, but Fair Offer According to the Realtors Confidence Index from NAR, 42% of offers today are above the list price. In such a competitive market, emotions and prices can run high. Having an agent to help you submit a strong, yet fair offer is critical in these situations. Your agent can help you understand the market value of the home and recent sales trends in the area.

5. Be a Flexible Negotiator When putting together an offer, your trusted real estate advisor will help you consider which levers you can pull, including contract contingencies (conditions you set that the seller must meet for the purchase to be finalized). Of course, there are certain contingencies you don’t want to give up. Freddie Mac explains: “Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is,’ which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.”

Bottom Line Today’s competitive landscape makes it more important than ever to make a strong oﬀer on a home. Let’s connect to make sure you rise to the top along the way. 30

Buying a home is not just a ﬁnancial decision. It’s also a lifestyle decision. -

Mark Fleming, Chief Economist, First American

“The absolute best part of the real estate process was taking the references of Story House for everything from home inspection to lending to closing, and feeling like we were being connected to individuals at the top of their field whom had our best interests in mind. And they were highly personable, too. I truly felt like everyone we worked with during the home buying process, I’d be friends with them outside of it. My wife and I feel as if we’ve gotten a home and long-lasting -THE FLEMING’S friendships, and I think that’s pretty unique.”

Clearly understand your goals and objectives.

Outline the home-buying process and educate you on the market.

Develop a plan and timeline to meet your needs.

Advise you for your long-term best interest.

Communicate often and respond quickly.

Review all Real Estate forms in advance.

Work discreetly, remain loyal, and protect your privacy.

Negotiate aggressively on your behalf.

Make the process as convenient and stress-free as possible.

Support you in making informed decisions.

Close deals on time, without unforeseen surprises.

happy clients say it best “The Story House Real Estate team was top notch in every aspect. We don’t think there’s any room for improvement on that team. It was such a pleasant experience.” MARRISSA & RAY AVERY “As out of town buyers, it was important that we have a highly competent, wellorganized, communicative REALTOR® to help us in our search. Errin Searcy was all those things and more. She helped us begin our search online and then showed us MANY properties on the few days we were in town. She was so great at helping us find the exact right property. And then, the closing process was so smooth--we were informed every step of the way. I recommend Story House and Errin in the strongest possible way!” GRETCHEN & RAY BROWNE “Kristin and Ann were exceptional throughout the entire process. Kristin showed us tons of houses, even when we weren’t yet in our buying window, and helped us narrow down what we were looking for so that when the perfect house came up, we were ready to strike. Kristin also went above and beyond during our home inspection process to track down documentation from an environmental company regarding a buried oil tank. She also coordinated our plumbing inspection during that time. Kristin also stuck with us when our basement flooded the day after closing and helped us find contacts and track things down from the previous owners to help with our homeowners claim. Ann helped us coordinate the utilities transfer and other odds and ends of getting to closing. I’m not sure if this is standard in the industry but it did seem that she took responsibility for a lot of the coordination that normally the buyers would have to do, so that was tremendously helpful.” THOMAS ADAMS

“Josh has always been there to answer any of my questions by text and e-mail. He goes out of his way to make sure all questions, maybe’s, and all angles are covered, and he always listens. I’ve worked since I was 13, worked two jobs almost all my life, and was raised with a very strong work ethic thanks to my dad. It’s very refreshing to see someone who has that same work ethic and drive, because I honestly just don’t see it much anymore. He’s been extremely patient and I just wanted you to know how great a job he’s done for us, and how happy we have been having him as our REALTOR®. I don’t know how much he gets, but I think he deserves a raise or a higher commission for as hard as he’s worked on our behalf.” CHAD MATTHIAS “Jess was always available when we had questions, any time we reached out. It was so nice to know that she was there to help us through the process.” LINDSAY HEPLER “Errin Searcy was stellar as an agent. She and the entire team at Story House made our process go quickly and smoothly, even with the holidays involved. I cannot recommend them enough.” ANDI CUMBO-FLOYD “As first time home buyers, my husband and I thoroughly appreciated all the guidance that was given to us by our REALTOR® Brentney Kozuch. She was always friendly, responsive, and happy to answer the many questions we had along the way. We are so glad Story House Real Estate helped us find our dream home and will absolutely be recommending Brentney and the team to anyone we know looking to buy a new home.” CAITLIN & THOMAS CAVAZOS

“Professional, kind, and most importantly knowledgeable about everything we needed and pointed us in the right direction every time. Story House was amazing at helping us through this new and complicated process, answering all our questions and being so readily available. It felt like we really mattered and that they were cheering for us to find the best place for our family, not just any house.” MEGAN & JUSTIN BRYANT

“Josh was supportive with the steps of the process...and when he reached out to remind us that we needed to sign a document that was time sensitive...I was very appreciative.” NANCY & JOHN ALLEN “The ability of the Realtors to be available after business hours was extremely helpful. As a medical resident, my schedule was hectic at times and all of the staff was willing to work with me to find flexible times to talk and tour houses.” JOHN BARRERA

5/5 AVERAGE FROM OVER 500 REVIEWS ONLINE!

t hank you! Thank you for the opportunity to be of service. We are lucky to have clients like you and hope you will call us for any of your real estate needs.

2110 Ivy Road | Charlottesville, VA 22903 434-260-1435 | info@storyhousere.com www.storyhousere.com