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. 

I am really excited about the next Charity Tuesday which will take place on July 7th.  We will be sponsoring the charitable organization – Golf Pros Beating Cancer, a group dedicated to supporting skin cancer research at Duke University.  One of only 40 centers in the country designated by the National Cancer Institute (NCI) as a “comprehensive cancer center,” Duke combines cutting-edge research with compassionate care. Duke’s team of nationally recognized physicians and staff treat more than 7,000 new patients per year, giving them the extensive experience that yields better results. The Duke Comprehensive Cancer Center is ranked as the top cancer hospital in the south, according to U.S.News & World Report’s “America’s Best Hospitals” survey.

Charity Tuesday events continue to gain momentum with the next one promising to be the biggest and best to date.  I have just picked up additional financial backing from three lenders, Danny Ott and James Gaudiosi with Wells Fargo Home Mortgage and Ana Maria Espina with Franklin American. The three have agreed to contribute a 10 percent match of the night’s dinner proceeds to the charity.  This currently brings our total contributions to 50 percent. I hope to have at least one additional contributor by the time of our next event.

As always, you simply come to the Old Brogue in Great Falls and enjoy great company, a fabulous dinner and an opportunity to win door prizes.  Whatever you spend on dinner and drinks will see a 50% match go to the charity – Golf Pros Beating Cancer.  Please click on the link (no pun intended) to learn more about this group and their upcoming Pro-Am tournament to be held at Trump National Golf Club.   Drawings for door prizes will also be held.  Our best prize to date is being offered up by Chris Melnick with LSA Title Services.  Chris has graciously offered up a three-some (actually a four-some with him) at Trump National.  Other door prizes include a one month complimentary pass to Elite Fitness here in Great Falls, a gift basket donated once again by Dominion Title , as well as several smaller gift items.  Danny Ott and I are working on securing additional door prizes which will be posted as they become available.

Click Here for a Free Local Real Estate Market Update

This month’s charity night at the Pub in Great Falls will be in support of the American Diabetes Association.  The decision to choose this particular charity was in direct response to a request by Mary and Kevin Crabtree who will actually be settling on the purchase their new home in Reston.  Those of you who have attended previous events may recall that Mary actually won drawing for the Tiffany bowl donated by Toll Brothers.   If you are unfamiliar with how the event works, 20 percent of the cost of your meal is donated to the monthly charity.  We do not ask for any type of donation.  Simply come, have a great dinner and enjoy the company.  I would strongly encourage you to bring any friends or relatives.   These events take place on the last Tuesday of the month (May 26th) at the Pub in Great Falls.  We will begin at approximately 7:00 PM.  If possible, please call the Old Brogue to make a reservation and be sure to ask that you are seated with our group.  Simply print out the coupon and bring it with you to insure that the ADA is credited and you will entered into our monthly drawing.  Click here for a printable coupon.  This month’s door prizes include a bottle of top shelf  Casa Noble tequila donated by Otto Hoernig, a Delft Virginia Tobacco Jar by Doris Leadbetter with Keller Williams Realty and a gift basket donated by Dominion Title of Great Falls.  Thanks to Todd Jarvies, Operating Partner at PF Changs Restuarant for adding an additional door prize of a $50 gift certificate for PF Changs Restaurant in Tyson’s Corner. 

I hope you can make it.

I encourage anyone with a little vision to come on by my open house this Sunday, April 26th from 1:00 – 4:00 to take a look at my listing located at 807 Clear Spring Rd. in Great Falls.  Simply click on the link to see additional details about this fabulous opportunity.

Hope to see you there!

This month’s charity night at the Pub in Great Falls will be in support of the Susan G. Komen Fund for the Cure. The decision to choose this particular charity was in direct response to a request by the renowned reconstructive surgeon and our good friend Dr. Jane Hanscom.   Jane was actually featured on NBC’s Today show back in 1999 as a breast cancer surgeon who was also a cancer survivor.  Nancy and I are particularly thankful for the support Jane provided when Nancy had to undergo her neck cancer treatments.  As always, the event will take place on the last Tuesday of the month (April 28th) at the Pub.  We will begin at approximately 7:00 PM.  Please be sure to ask that you are seated with our group.  Simply print out the coupon and bring it with you to insure that the fund is credited.

My current listing at 807 Clear Spring Rd. offers an fabulous opportunity to purchase a home with over 6,000 square feet of living space on two levels.  Sit on the front porch and enjoy the idyllic setting proved by the nearly 3.2 acres of land.  Break out your best mint julep recipe to watch the world go by out front while the kids play in the Keebler Elf style treehouse situated in the backyard play area.   I don’t know it for fact, but several neighbors have said the Mother Teresa occasionally strolled the property’s trails that wandered through the trees out back.  You may be able to feel her presence when viewing the “Peace Pole” that stands next to the treehouse.

Inside, the home boasts six bedrooms, five full bathrooms and two half baths.  The top quality gourmet kitchen was remodeled by the current owners and includes all new cabinets, appliances and much more.  The living room, dining room, and cozy family room make for a perfect flow for all your parties.  The maid’s quarters/Au-pair suite with private entrance is situated adjacent to the kitchen.  The remainder of the main level includes four bedrooms and three full baths.

The entire lower level (except for two closets) was also fully remodeled by the current owners.  Your guests will love the two room in-law suite which includes large closets, access to a private patio and a totally remodeled bathroom with steam shower.   Who could ask for more?  Also found on the walk-out lower level is an abundance of space for a home theater.