A native of upstate New York and a long time resident of the Boston, MA area, Tim Heil came to Great Falls, Virginia in the spring of 1998 while employed as a National Sales Manager for Lucent Technologies. After retiring from Lucent in 2001, he began work as a teacher in the Fairfax County school system teaching Civics and History at the middle and high school levels. He also was a Lacrosse coach for 4 years at Langley High school.

In 2008, Tim started his new career in real estate and has sold homes throughout Northern Virginia and as far south as Stafford County. He specializes in single-family detached homes and townhouses. This former teacher truly enjoys assisting first time homebuyers with: (a.) The home selection and contract process (b.) Helping them understand the complexities of obtaining a mortgage and (c.) Ultimately guiding them through myriad details leading to a successful home settlement. As a member of the Bob Nelson Team, Tim takes particular pride in what we have been doing to help our servicemen and women in their need to find both short-term and permanent homes in the northern Virginia region. We all feel privileged to provide any and all assistance to the members of the U.S. armed services.

Tim recently gained certification in selling “distressed properties” and  would be glad to assist anyone who might be contemplating buying or selling a home under a Short Sale arrangement.

On the personal side, Tim lives in Great Falls with his wife Susan, who is a director at Ernst and Young LLC located in Tysons Corner.  The Heils  have two children, Lily and Gordon. Both children went through the Fairfax County School System and are now attending James Madison University and the University of Mary Washington, respectively. Tim and his wife are members of St. Francis church in Great Falls and the family continues to maintain an active role in the northern Virginia community.

After working for another real estate firm for some time, Tim decided to join the Bob Nelson Team at Keller Williams Realty in August of 2009.  After serious consideration, he made this switch with the firm belief that this will enable him to best serve the interest of all his current and prospective clients. Please feel free to contact Tim at Tim@BobNelsonTeam.com and learn how the Bob Nelson Team difference will make your real estate transactions a pleasurable experience. And Oh by the Way… we are never too busy for your referrals.

Neighbors Foundation

This month we will be showing our support to the troops who are on the frontlines of the war on terror.  Military Appreciation Mondays will be raising funds for the Great Falls, Va. based group Neighbors Foundation. NIF has provided over 1,600 care packages to servicemen and women serving YOU AND ME in Afghanistan and Iraq.

Some of the things sent include:

• Snack and food items that hold up well in a combat environment.
• Over 75 current magazines regularly donated by Time Warner.
• Holiday items to bring some seasonal cheer.

This month’s dinner at the Old Brogue will be on May 24th.  As always, we will be doing two seatings at 5:30 and 7:30.  As always, you simply come out and have dinner at the Old Brogue in Great Falls.  Myself and my cosponsors will each be contributing a 10 percent match (typically a total of an 80 percent match) of your dinner tab to Neighbors International Foundation.  If you know of anyone who might be interested in becoming a co-sponsor, please contact me at bob@bobnelsonteam.com.

You can also show your support through:
A. The purchase of door prize entries. (ALL Proceeds will go directly to Neighbors Foundation)
B.  Our buy a vet dinner initiative.  We will have between 10-15 enlisted personnel for whom you can buy dinner.
C.  Or you can make out a fully tax deductible donation to Neighbors Foundation.

Be Certain to make at Reservation for
Either the 5:30 or 7:30 Seating by Calling
The Old Brogue at:  (703) 759-3309

Hope to See You There

Please come out strong to show your support.  Due to the heavy rain and the Caps game, last month’s attendance only reach 80 people.  While our vets in attendance appreciated this showing, I was hoping to break our previous best of 130.  We did manage to raise nearly $3,000.  This in part due to one of my recent clients who committed to donating $600 to Our Military Kids.  I was also thrilled to learn last month that the March dinner in support of Lift Me Up’s therapeutic horseback riding raised enough money to jump start that program’s efforts and fund three veterans.

Please be certain to thank my co-sponsors when you have a chance.

Last Month’s Co-sponsors

The Old Brogue

LSA Title Services

Gary Kaihara, DDS

The Grossman Family

The Nelson Family

James Gaudiosi – Wells Fargo Home Mortgage

Previous Co-Sponsors

Mercury LLC

Knight Point Systems

Shiner Roofing and Siding

Danny Ott – George Mason Bank

and our door prize donors:

Billy Casper Golf Adeler Jewelers Toll Brothers Homes

PF Chang’s Dominion Title Lodgecliffe Bed and Breakfast

Casa Noble Tequila Elite Fitness Golds Gym

Turner Framing Maison Du Vin Mr. Wash (Car Wash)

Great Falls Design Build Home Equity Builders Campbell Mechanical

State Farm Insurance Downs & Assoc. Insurance

This warm and elegant country manor home located in Hidden Springs, one of Great Falls, Virginia’s premier communities provides ample space to host diplomatic style receptions.  The nearly 20,000 square feet of living space includes a spectacular main level master bedroom suite, library, kitchen/family room, pub, party room, billiards room, exercise room and so much more.  The hilltop siting of this fabulous home on nearly six acres provides panoramic views of the surrounding horse country yet provides unparalleled privacy.  Click here to visit the virtual tour for this home.

Military Appreciation Mondays
Supports
Our Military Kids

April is national Month of the Military Child.

I hope you can come out for this month’s Military Appreciation Mondays event at the Old Brogue which will be in recognition of the contributions made by the children of our Servicemen and Women.  I am particularly proud to be bringing back the truly special program – Our Military Kids. These dedicated folks provide support to children of deployed National Guard and Reserve personnel as well as to children of injured service members through grants for enrichment activities and tutoring.  Such activities help these children cope with the stress of having a parent in a war zone or recovering from injury at home.  OMK grants are made to honor the sacrifices that military families make and to ensure that their children have access to sports, fine arts, or academic tutoring programs.
To show your support, simply come out and have dinner at the Old Brogue in Great Falls.  Myself and my cosponsors will each be contributing a 10 percent match (typically a total of an 80 percent match) of your dinner tab to Our Military Kids.

You can also show your support through:
A. The purchase of door prize entries. (ALL Proceeds go directly to Our Military Kids.)
B.  Our buy a vet dinner initiative.  A minimum donation of $25 to OMK entitles you to purchase dinner for one of our vets.
C.  Or you can make out a fully tax deductible donation to Our Military Kids.

Be Certain to make a Reservation for
Either the 5:30 or 7:30 Seating by Calling
The Old Brogue at:  (703) 759-3309

Hope to See You There

Feel Free to Post the Attached Flyer in Your Office
and forward this email to whomever you think may want to attend.

We Would Love to Break 150 Attendees

I am proud to say that last month’s event in support of the Lift Me Up! therapeutic horseback riding program for our injured vets had approximately 125 people in attendance and raised approximately $4,500. This was our best total to date.  I would like to particularly thank Col. Pete Hilgartner (USMC Ret.) for helping out with a book signing at the last two events.  Let me know if you would like to purchase a copy of Colonel Hilgartner’s book “High Pockets War Stories”.  A $10 donation will be made to OMK with each sale.

Please be certain to support my co-sponsors whenever you have a chance.

Mercury LLC

Knight Point Systems

Shiner Roofing and Siding

James Gaudiosi – Wells Fargo Home Mortgage

Danny Ott – George Mason Bank

LSA Title Services

Gary Kaihara, DDS

The Old Brogue

and our door prize donors:

Mr. Wash

Golds Gym

Dominion Title

Turner Framing

Maison Du Vin

Adeler Jewelers

Casa Noble Tequila

Home Equity Builders

Campbell Mechanical

Elite Fitness Concepts

PF Chang’s Restaurant

Great Falls Design Build

Lodgecliffe Bed and Breakfast

Hope you can join us and show your support to our nation’s servicemen and women on Monday February 22nd at the Old Brogue in Great Falls.  Proceeds from this month’s event will go to the Semper Fi Fund.

For those not familiar, you simply come out and have dinner.  Myself and my cosponsors will be contributing approximately 90 percent of your dinner tab to this critical organization.

You can also show your support through:
A. The purchase of door prize entries. (ALL Proceeds go the IMSFF)
B.  Our buy a vet dinner initiative.  A minimum donation of $25 to the Semper Fi Fund entitles you to purchase dinner for one of our vets.
C.  This month we will be selling autographed copies of the Book “Highpocket’s War Stories” authored by Great Falls’ own Col. Pete Hilgartner USMC (Ret.).
D.  Or make out a fully tax deductible donation to the Semper Fi Fund.

The Injured Marine Semper Fi Fund is a 501(c)(3) nonprofit organization established to provide financial aid and quality of life assistance to service members and their families.  The group provides help to Qualified service members of all military branches and their families.  It helps Marines and Sailors as well as members of the Army, Air Force and Coast Guard who have served in support of Marine forces. The Semper Fi Fund provides assistance to these qualifying men and women, and their families, when they become injured in post 9-11 combat or training operations, or are diagnosed with a life threatening illness.

Please support my co-sponsors whenever you have a chance.

Mercury LLC

Knight Point Systems

Kevin Shiner – Shiner Roofing and Siding

James Gaudiosi – Wells Fargo Home Mortgage

Danny Ott – Wells Fargo Home Mortgage

Chris Melnick – LSA Title Services

Gary Kaihara, DDS

The Old Brogue

and our door prize donors:

Golds Gym

Dominion Title

Adeler Jewelers

Casa Noble Tequila

Elite Fitness Concepts

Campbell Mechanical

PF Chang’s Restaurant

Great Falls Design Build

Lodgecliffe Bed and Breakfast

Thank you so much to those who have stepped up to brighten Christmas for the children of our injured servicemen.  Twelve of the sixteen families on the list have been fully accounted for with 25 of the 33 kids ready to have a wonderful Christmas morning.  Nancy and I ran out on Friday to do our shopping for the Helmuth kids.  We simply couldn’t resist the urge to buy “any toy that makes noise” for the one year old girl.  It was a great deal of fun picking out toys we thought the twins would enjoy.  We also had to learn all about transformers for four year old Nathaniel!!

If you are still considering showing your appreciation to our vets, please take a look at the remaining names below.  Once you let me know who you would like to purchase a gift for, drop an e-mail to Santa@BobNelsonTeam.com.  We will then give you the address and contact info for the family.  Feel free to visit the websites for Our Military Kids, Operation Second Chance, Thanks USA, the Semper Fi Fund and the Yellow Ribbon Fund if you’d like to show your support to these wonderful grassroots organizations.

Kids Still in Need of Gifts

Weissmiller Family (Adopted by the Moran and Vamvakias families – Thank you Mary and Don)

• 12 yr old girl: in-line skates (size 6-7)
• 7 yr old girl: roller skates (size 1)

Jensen Family (Adopted by the Grimes family – Thank you James and Susan)

• ·         13 yr old girl: Ipod Touch
• ·         9 yr old girl: Wii gaming system
• ·         6 yr old girl: Littlest Pet Shop toy house

Fulkerson Family

• 18 yr old boy: laptop computer for his school work and for college next year  (A  big thanks to Shiner Roofing and Siding for offering to purchase the laptop.  Again my thanks Kevin.)
• (A short note about this one.  It seems that the Fulkerson boy is a senior in high school.  He had come home from school and accidentally left his car door unlocked.  Someone actually stole the laptop out of the car from the son of an injured vet.  I realize this is a large item to be requesting.  I’m imagine he would be happy to receive a good condition laptop if nothing else.)

Thank You to Those Who Have Agreed to Purchase Gifts for the Families Below

Bellis Family (Adopted by the Hoernig family – Thank you Laura and Family)

• 14 yr old girl:  electric guitar, JC Penney’s gift card
• 11 yr old boy: football, Tennessee Titans merchandise, JC Penney’s gift card
• 6 yr old girl: Barbie doll, furreal electronic dog, JC Penney’s gift card

Broesch Family (Adopted by the Heil family – Thanks Tim)

• 15 yr old girl: art supplies (paint brushes, charcoal pencils), iTunes gift card
• 7 yr old girl: books, craft supplies, a Barbie doll

Brown Family (Adopted by Knight Point Systems – Thank you Lindsey)

• 7 yr old boy: Xbox 360
  
• 1 yr old girl: Disney princess toys/merchandise

Christiansen Family (Adopted by the Christianson family- Thank you Vickie and Family)

• 9 yr old girl: Girl Gourmet Cake Bakery
• 4 yr old girl: Girl Gourmet Cupcake Maker

Deen Family (Adopted by the Matthews family and Collingswood Nursing Home – Thank you Catherine)

• 16 yr old girl: iPod
• 15 yr old boy: video games
• 14 yr old boy: video games
• 9 yr old boy: board games
• 3 yr old girl: educational toys teaching the alphabet and numbers

Helmuth Family (I can’t resist.  Adopted by the Nelson Family. 

• 3 yr old boy: Transformers, action figures, books
• 1 yr old girl: any toy that makes noise!  (I love this one)

Loper Family (Adopted by the Borland Family – Thank you Dodie and family)

• 12 yr old girl: digital camera
• 11 yr old boy: remote controlled cars
• 10 yr old boy: nintendo dsi
• 7 yr old girl: American Girls doll

Sherrill Family (Adopted by the Copito family – Thank you Debbie and family)

• 14 yr old boy: new sports bag (for carrying sports equipment to practice)
• 11 yr old boy: new sports bag (for carrying sports equipment to practice)

Hall Family (Thundercat Technology)

• 8 yr old boy: gameboy

Holsey Family (Adopted by the Grossmans.  Thank you Jackie!)

• 15 yr old boy: gift cards to Footlocker and Macy’s

Pointer Family (Adopted by the Heil family – Thanks Tim)

• 13 yr old boy: ripstick skateboard

Williams Family  (Adopted by the Smiths – Thanks Laura and Gene)

• 14 yr old girl: gift cards to Barnes & Noble or AMC Theaters

• 6 yr old girl: Barbie doll, clothes (pants size 6x, shirts size 7)

According to data from the National Association of Realtors, pending home sales were up 3.7 percent in October, compared to September, and up 32 percent when compared to October 2008.  This was the biggest annual increase in history.  Keep in mind that October 2008 was a historic low so we should not be surprised by the huge increase.

Pending home sales — which equates to the number of contracts signed but have yet to close — rose in all sections of the country except the West.  They were up 20 percent in the Northeast, 11.6 percent in the Midwest and 5.4 percent in the South, but down 11.2 percent in the West.

Part of the surge is probably attributable to buyers rushing to take advantage of the government-subsidized first-time home buyer’s credit, which was set to expire at the end of November but now has been extended through April.  Also, the bulk of sales still are coming from cheaper houses, with little movement in houses costing more than $250,000.

As you may know, one of my recent events went towards supporting the group Our Military Kids.  My son just sent me a link to the video below. (Return from Iraq).   I will be sending out an e-mail in the next few weeks with OMK’s Christmas gift wish list.  Please think about what this young girl and all the other kids have been dealing with while their moms and dads are serving our country.

The Return from Iraq

Existing-home sales bounced back strongly in September with first-time buyers driving much of the activity, marking five gains in the past six months, according to the National Association of REALTORS®.

Existing-home sales—including single-family, townhomes, condominiums, and co-ops—jumped 9.4 percent to a seasonally adjusted annual rate of 5.57 million units in September from a level of 5.10 million in August, and are 9.2 percent higher than the 5.10 million-unit pace in September 2008. Sales activity is at the highest level in more than two years, since it hit 5.73 million in July 2007.

Lawrence Yun, NAR chief economist, said favorable conditions matched with a tax credit are boosting home sales. “Much of the momentum is from people responding to the first-time buyer tax credit, which is freeing many sellers to make a trade and buy another home,” he said. “We are hopeful the tax credit will be extended and possibly expanded to more buyers, at least through the middle of next year, because the rising sales momentum needs to continue for a few additional quarters until we reach a point of a self-sustaining recovery.”

Even with the improvement, Yun said the market is underperforming. “Despite spectacular gains in the stock market, principally from the financial sector recovery, most of the 75 million home-owning families have more wealth tied to their homes. Home values could soon turn consistently positive and help the broad base of middle-class families, but we are not there yet,” he said.

Conditions for First-Time Buyers
Early information from a large annual consumer study to be released on Nov. 13, the 2009 National Association of REALTORS® Profile of Home Buyers and Sellers,shows that first-time home buyers accounted for more than 45 percent of home sales during the past year. A separate practitioner survey shows that distressed homes accounted for 29 percent of transactions in September.

NAR President Charles McMillan said affordability conditions remain historically high. “Potential first-time buyers can take heart in that affordability conditions this year are the highest on record dating back to 1970, but with the first-time buyer tax credit scheduled to expire at the end of next month, people could hold back from entering the market,” he said. “Our read is that housing overshot on the downside because homes are selling for less than replacement construction costs in much of the country, and the home price-to-income ratio has fallen below the historical average.”

Inventory Falls
Total housing inventory at the end of September fell 7.5 percent to 3.63 million existing homes available for sale, which represents an 7.8-month supply at the current sales pace, down from an 9.3-month supply in August. Unsold inventory totals are 15.0 percent below a year ago.

“The current housing supply is the lowest we’ve seen in two and a half years,” Yun said. “If we could continue to absorb inventory at this pace, home prices would return to normal, modest appreciation patterns next year.”

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to 5.06 percent in September from 5.19 percent in August; the rate was 6.04 percent in September 2008.

Home Sales Breakdown
The national median existing-home price for all housing types was $174,900 in September, which is 8.5 percent lower than September 2008. Distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes in the same area.

Single-family home sales rose 9.4 percent to a seasonally adjusted annual rate of 4.89 million in September from a pace of 4.47 million in August, and are 7.7 percent above the 4.54 million-unit level in September 2008. The median existing single-family home price was $174,900 in September, which is 8.1 percent below a year ago.

Existing condominium and co-op sales jumped 9.7 percent to a seasonally adjusted annual rate of 680,000 units in September from 620,000 in August, and are 9.7 percent above the 561,000-unit pace a year ago. The median existing condo price was $175,100 in September, down 11.7 percent from September 2008.

Here’s the region-by-region picture:

• Northeast: Existing-home sales increased 4.4 percent to an annual level of 950,000 in September, and are 11.8 percent higher than September 2008. The median price was $234,700, down 7.0 percent from a year ago.
• Midwest: Existing-home sales jumped 9.6 percent in September to a pace of 1.25 million and are 7.8 percent above a year ago. The median price was $147,600, which is 1.0 percent below September 2008.
• South: Existing-home sales rose 9.0 percent to an annual level of 2.06 million in September and are 10.8 percent higher than September 2008. The median price was $153,500, down 7.6 percent from a year ago.
• West: Existing-home sales surged 13.0 percent to an annual rate of 1.30 million in September and are 5.7 percent above a year ago. The median price in the West was $219,000, which is 15.0 percent below September 2008.

 As you have likely been reading, the First-time Homebuyer Credit program will expire on November 30′th.  What many people have not understood, this means you must settle on your new home by that date.  Having just purchased a new car, I encountered the flurry of activity that occurred on the last few days of the Cash for Clunkers program.  For those who purchased a new car, it was feasible (although not advisable) to wait to the last minute.    WARNING:  This is not the way the homebuying process works.  We are quickly approaching what is the last minute for you to make your purchase.  Unlike picking out a new car, finding the right home can take a week, two weeks or in some cases several months.  Even once you have found the perfect place to call home, you will then need to start the actual buying process.  This has quickly become challenging in our local market since the more affordable homes are disappearing from the inventory.  A simple understanding of the law of supply and demand will tell you that this will create upward pressure on prices and competition for the same properties.  Remember that what you find appealing will also appeal to a great many others.  I just sold my used car to “Joe C.” who has been trying to buy a home in Woodbridge.  He said that he and his fiance have made offers on three homes, only to be out bid either by higher offers or all cash offers.  There are several things that Joe and his Realtor can do to insure that this doesn’t happen which we can easily cover in person. 

Once a contract is ratified, the process will then take a minimum of three weeks to four weeks to get to the settlement table.  And this only if everything lines up perfectly.  With that said, you will need between six and eight weeks to find the right home and settle on it.  We have only 11 weeks until the program expires.  The reality is that three weeks to spare in the homebuying process is equivalent to three hours in the auto purchase world.

If you are reading this post, you probably already decided to purchase a home, but I would suggest reading the about the Proven Path to Home Ownership since it provides a very succint discussion o fthe home buying process.  We can always discuss this in more detail once we get together. 

At the risk of sounding like a high pressure sales person, you really can’t wait much longer to take advantage of the First Time Homebuyer Credit.  Depending on you income, this credit can mean an actual dollar savings of anywhere from $10,000 – 16,000 in pre-income tax money.