Community Events

The Move-First Wednesday of Every Month- El Centro

The Move

We're going to meet at El Centro for happy hour and appetizers. There will be a $5 all you can eat taco bar exclusively for The Move- so bring a friend and We'll be there from 6-8pm. See you there! RSVP is preferred, but if you didn't RSVP and...

SciFi & Fantasy fans are welcome

Winchester Science Fiction & Fantasy Fans

Until the group makes a new agenda all meetups are open discussions of any and all things Science Fiction. All Science Fiction and Fantasy Fans are welcome!

Network over dinner!

Winchester Heart Link Women's Networking Group

The Winchester Heart Link Network® will hold a meeting of like-minded business women who are interested in creating heartfelt, meaningful relationships with one another that will in turn strengthen their communities. The meeting begins with a...

Front Royal, VA – Video Real Estate Market Update – February 2015

March 22nd, 2015 by Mike Cooper

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Winchester, VA 22601 Video Real Estate Update – February 2015

March 7th, 2015 by Mike Cooper

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The unrealized costs of overpricing a home

March 2nd, 2015 by Mike Cooper

Sellers, there are more expenses to selling your home than commissions if you’re not ready to sell. One of worst things a seller can do is overprice his/her home when it first comes on the market. A small overage is one thing, but when that overage hits 10, 15, 20, 30% and beyond, it’s like burning dollars in your furnace to stay warm.

What are the unrealized expenses of overpricing a home? I only sayFrazzledunrealized because it seems that sellers are the last ones to realize the costs of overpricing. Let’s assume the house is in good condition, ready to show and is in a good location, but it’s priced too high. What are the unrealized costs?

  • The monthly expenses of maintaining a home that could be used in purchasing a new home. (Electricity, water, heating fuel)
  • The other periodic expenses that occur and need to be paid, such as: property taxes, insurance, maintenance costs, etc.
  • The expense of keeping the house ready to show. Who wants to keep their house ready to show seven days a week for six months, nine months or a year? You can never really take a day off from living in a museum.
  • The expense of having to pick up and leave the house for showings over and over. That may inspire more dinners out, more shopping trips and of course more inconvenience and more expense.
  • The expense of giving a neighbor an insight into what not to do when she’s ready to sell. She watches your unsuccessful attempt to sell your house and then lists hers for 10% less. It sells immediately. You blame it on your lame Realtor, but the truth is it’s your price.
  • The expense of stress on the family. If you have children or pets in your house the above issues also affect them. Kids can’t have kids over because they might have to leave at moments notice, dogs and cats end up crated for hours on end and neither can use the house the way they did before it was listed.

A house that sells quickly is just as likely to sell quickly because it was listed well rather than because it was listed low. When you hire an Realtor to sell your house, make sure your hire one that you have confidence in and then listen to his/her advice and insights into the local market.

A buyer will likely buy another house that is similar if the price is lower. No matter how wonderful your house is, it’s in competition with every house on the market. If your house is the most expensive one, it will likely sit longer than similar properties. Think about the unrealized costs of overpricing a home. When you’re ready to list your home, give your Cornerstone agent a call for an honest assessment of your home and it’s potential for a profitable sale in a reasonable time.

Check out Beth Atalay’s blog: You Are NOT Ready To Sell Your House Yet!! 

Front Royal, VA – January 2015 – Video Real Estate Update

February 28th, 2015 by Mike Cooper

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Stephens City, VA – January 2015 Video Real Estate Update

February 26th, 2015 by Mike Cooper

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Winchester / Frederick County, VA 22602 Video Real Estate Market Update January 2015

February 26th, 2015 by Mike Cooper

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Winchester (City), VA Video Real Estate Update January 2015

February 23rd, 2015 by Mike Cooper

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Cut your overall mortgage expense by pre-paying principal.

November 30th, 2014 by Mike Cooper

Homeowners know that a mortgage is a great way to buy a house.  But, too many don’t realize just how much a mortgage can run the price of house up over the course of a loan.

If I told you that I would sell you a $200,000 house for $364,813.42 you would never do it, but a 30 year mortgage can run the purchase price of a house up $164,813.42 in interest at 4.5% over a 30 year mortgage.

There are ways to reduce that number that are simple and within reach.  Anytime you take out a mortgage, make sure you have the privilege of pre-paying principal without penalties.  Let me show you how this works.

Let’s start with a $200,000 mortgage with the first payment beginning January 1st.  Interest is loaded on the front of your mortgage, so your early payments are predominately interest.  Let me give you an example.  Payment one is $1013.37.  Of that fee, only $263.37 is paid on the principal.  The remaining $750.00 is interest.  On month 2, your second payment is $1013.37 of which $264.36 is principal and $749.01 is interest.

So, in two months, you have paid $527.73 in principal and $1499.01 in interest.  Now, if you add the principal of the second month with your first payment you can skip the interest on payment two.  So, on January 1 you would pay $1277.73.  That eliminates $749.01 in interest from your loan.  

In February, you would pay payment 3.  Payment 2 has been paid with the January payment – minus the interest which you won’t ever pay.  In February, if you paid the principal of month 4, $266.34, you can skip the interest of $747.03.  In two payments, you have reduced your overall mortgage costs by $1496.04 in interest.  If you repeat that every month throughout your mortgage, you can radically reduce the overall interest costs of your mortgage.  There is another way to pay your mortgage off early and reduce the overall interest.  I’ll show that in the next blog.

 

Stephens City, Virginia Real Estate Video Market Report: June 2014

July 9th, 2014 by Mike Cooper

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Winchester, Virginia Video Market Report for 22602: June 2014

July 8th, 2014 by Mike Cooper

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