DENNY PHIPPS Real Estate Analyst

 (Denny@DennyPhipps.com)

"Success is measured in service to others."

BUYERS: This is NOT the right time for everyone to buy a home. So, for whom is it right?

*- First time home buyers. $8000 tax credit is big incentive along with long-term stabilization of housing costs, deductions on income taxes, etc. This credit expires on April 30, 2010.

*- Moving up. AND you want to use your current home as a rental property. For the best terms you will want to offer a 20% down payment but lenders still have some flexibility for buyers who are otherwise qualified. FHA loans only require a 3.5% downpayment on loans up to $729,000. New home builders are offering very attractive incentives. The latest enhancement to the Tax Credit provision offers up to $6,500 for existing home owners buying a new home until April 30, 2010.

*- Relocating to the area. If you're moving here to take a new job, choose an area near your employer, within your financial capacity and be resolute. Inventory is diminishing, prices and mortgage interest rates are low, and your relocation package probably has time constraints. Hello!

*- Investors with the capacity to invest 20% down payment. With that size down payment your monthly cash flow will probably cover your expenses while renting. These are broad guidelines; each situation must be analyzed to determine value.

SELLERS: This is NOT the right time for everyone to sell a home. So, for whom is it right?

*- Short sellers. Your adjustable rate mortgage (A.R.M.) has adjusted upward and is beyond your budget. Selling for less than is owed is better than letting the home go to foreclosure. Why? Credit scores are impacted more severely by a foreclosure. Those who sell short can qualify for another mortgage much sooner than those who experience a foreclosure. If this is your situation, let Denny tell you more about how the process works. He has taught other agents how to manage short sales. He will manage yours.

*- Relocating from the area. Your options are limited. If you want to rent your home, property management companies can maintain it for you. Would that be better than losing the value of your investment by selling now near the market’s bottom? Do you believe market values will increase?

*- Generally, if you don't have to sell, don't put your house on the market. If it's not priced in the range of the homes being sold in distressed circumstances (e.g., short sales and foreclosed homes), it will sit on the market and not attract many showings. After sitting on the market for three months, agents will assume there is some problem with the house and will take their clients to homes priced to sell now. Over-priced homes DO NOT SELL and have a negative affect on the market. Save yourself the trouble. If this is your circumstance, you can now say you know a real estate group who doesn't want to list your home [because it's NOT in your best interest.

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THE KEYS TO CHOOSING A REAL ESTATE COUNSELLOR are determined by how he can help you. The primary elements that benefit you are the agent's experience with your kind of transaction and familiarity with the geographic territory.

► VARIETY OF TRANSACTIONS: Denny's personal experience buying real estate began at the age of 24. His holdings have included a condo, undeveloped land, a townhouse, a semi-detached house and detached homes. He has used builder financing, seller financing and conventional financing and has moved four times with a corporate relocation package. He has been a tenant and a landlord.

His clients benefit from this experience with the confidence of knowing that he has probably been through the same process they are facing and has the expertise and checklists to guide them through the maze of compliance requirements.

► OUT-OF-TOWNERS SEEK A LOCAL FOR GUIDANCE: Where did you grow up? Would someone moving into your neighborhood ever know as much about it as you? Denny went to public schools in Arlington and then on to Virginia Commonwealth University in Richmond. He has had six homes in five different ZIPcodes in Northern Virginia. He knows the territory!

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FIRST CONSULTATION IS WITHOUT OBLIGATION: After the first consultation you and Denny will want to choose whether you want to work together. If you both agree to the client/consultant relationship, Denny will make all his systems go to work for you. Ask him for a list of things he and his colleagues manage for you.

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REFERRALS: If you came to consider him because of a referral, please tell him right away so he can properly thank that person. It's important that you know that Denny grows his business by encouraging and rewarding referrals. That way he can devote his time to serving directly his clients' needs rather than marketing himself to find new clients.

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SYSTEMS: Your first experience with his systems is registering in this website. From that starting point, he engages his systems to help you meet YOUR objectives. If there is more you want to know right now, call him at 888-673-7866, ext. 169 [Toll Free] or 703-483-9029, ext. 169 [Local Calls].

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BUYERS' SERVICE OBJECTIVES: Denny says, ”In trying to help you find a home, these are the objectives upon which my team and I focus.

1 - My client will be among the first to see any home that meets his/her/their selection criteria. My computer systems ensure this.

2 - When my client selects a home to buy, we will be the first to make a formal written offer.

3 - I will negotiate fervently to see that my client meets all objectives of the offer.

4 - My client will be pleased with the services provided by our team, keeping us in a leadership position in Customer Satisfaction.”

If you'd like to search for a home on the multiple listings system, Denny has established access for you. Go to www.ListingsAccess.com.

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TESTIMONIALS "I received an email from Denny's computer program about a home in the neighborhood I had my heart set on. Denny secured the first showing appointment. The seller and I had an opportunity to bond. We ratified a contract the day after it was listed. Being first made the deal work." - Sherril

"I didn't know it would be so easy to buy a foreclosed property." - Keith

"I found a home to buy before I had my home listed to sell. My lender withdrew his loan commitment because my ratios were too high if I carried two mortgage loans. Within minutes Denny found me a loan officer who provided the bridge funds I needed to get my new home. Whew!" - Suzanne

“My circumstances changed three years after I bought my home. I could no longer carry the mortgage after it reset drastically upward, way beyond my budget. Denny and his partner marketed the home vigorously and found a buyer right away. Then the real work began. They gathered all the information I needed to provide to the bank to convince them to accept less than I owed as ‘payment in full.’ They did all the negotiating and I never had to talk to anyone at the bank. Without their guidance, I don’t know what I would have done. I guess I would have gone to foreclosure or maybe bankruptcy.” - Olivia