Kelsey's Real Estate Tips and Tricks

I had a beautiful single family home listed recently that brought some interesting questions to mind. What makes a legal bedroom? What are the benefits of having an additional legal bedroom? Is making that basement "den" into a legal bedroom affordable? Is it worth it? So, I thought I'd blog about it! Many people who are fortunate enough to have a finished basement have some sort of room down there that's being used as a guest room. However, when listing a property, many people ask the question, "is this a legal  bedroom?" According to building codes in the state of Virginia, there are several things that are required to answer that question with a "yes!" First, the room has to be of a certain size at minimum. Specifically, it must be at least 70 square feet (or 100 square feet if there are two people living in it), and it must have at least 7 foot ceilings. The room also has to have access to a bathroom, without having to go through another b

Some of you may be wondering why I took a little hiatus from real estate. Well.... here's your answer! Isn't he a cutie?! This is my son, Everett James Crossett. He's just over 3 months old, and is the absolute light of my life! I wanted to take some time to devote solely to him, so I took a few months off, but now I'm back in action! I'm so fortunate that my mom is retired, lives nearby, and is always happy to watch my little peanut when I am out with clients!  I've been meeting with my first few clients since his birth over the past few weeks, and I'm happy to say that I got my first ratified contract last night! It feels good to get back to work, especially now that I have a little one to provide for. I have always loved my job, but now I do more than ever, since it allows me to be there for my son AND provide for my family financially as well. He motivates me to be both the best mother and the best real estate agent I can! If you or someone

I've heard many people say, "You don't need to use a real estate agent if you're buying new construction." You will certainly hear those words from any builder's sales rep.  I can understand why a builder would say that (clearly they don't want to have to pay an agent's commission... that's less money in their pocket!) However, what I don't understand, is why a home-buyer would say that.  So why should you use an agent? Well, from a buyer's perspective, one of the biggest reasons is that as a buyer, it doesn't cost you anything to use an agent!   The seller (the builder in this case) pays the real estate commission. So, for the buyer, using an agent is a free service that could save you money both during the buying process and when you sell the home down the road. As in any real estate transaction, your agent is there to guide you through the process and provide you with the expertise you need to make the best decision. Specifical

Key Real Estate Terms I spend hours every day looking at listings online. It's part of my job to know what's out there, and of course to know what all the terms mean. However, I got to thinking today, what questions do most people have when looking at listings online? So, I had my husband, Robert, look at some listings on one of the main-stream real estate search engines, to see what questions he would have. Here's what we found: Robert:  "Under 'status', what does CNTG/No Ko mean?" CNTG/No Ko:  This is an abbreviation for 'Contingent, No Kick-Out'. This means that the listing you're looking at has a ratified contract, meaning that the contract and all terms have been agreed upon and signed by both the buyer and seller. The 'No Kick-Out' part means that there are contingencies on the contract (such as Home Inspection or Appraisal), but the seller is not able to accept any other offers at this time. The alternative is: CNTG/

Go With Your Gut Buying a house is just like any other important decision you'll make in your life. Yes, it's important to do the research, and it's important to explore your options, but at the end of the day, the most important thing is to go with your gut. When you find the right house for you, you'll know it. Don't hesitate. Think about it this way: when you found the right man or woman for you, did you say, "I think you're the right one, but I'd like to go date 10 more guys just to make sure"? Do you think he'd wait around if you did? I think not.  The past few days that I've spent with my current clients have reminded me a lot of my own home-buying experience. Just as I had, they spent months looking at properties online in all different areas, planning where they would buy, when they buy, and what they would buy. They had their must-have lists, their budgets, and their timeline. And then... an opportunity presented itself. T

One Benefit of Buying vs. Renting It's that time of year again. You go out to the mailbox to pick up your mail, and what do you find? That lovely W2, which tells you how much (or little!) you earned this year. That can only mean one thing: it's tax season. Tired of cutting a check to the IRS every year? Buying a home can help with that.  Of course, I'm not saying that buying a home will ease all of your tax woes, but there are tax benefits to  home-ownership  that can lessen the burden. The biggest benefit is that you are able to deduct the interest you pay on your mortgage (which I will explain in detail below), but you can also deduct the Real Estate taxes you pay each year. These things can easily become the difference between writing a check to the IRS and  cashing a check  from the IRS. There are a few things that are important to understand here. First of all, the interest on your mortgage is amortized in your payments throughout the life of the loan (ofte