Independently Owned & Operated WEICHERT... It’s a Shore Thing! North Street Playhouse Celebrating 25 years of Theatre on the Eastern Shore Inside this issue... Things to do Before Putting Your Home on the Market 5 Homes for Sale on the Eastern Shore Why Home Equity Beats Facebook Equity Winter 2012
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Winter 2012 www.mason-davis.com
Independently Owned & Operated
WEICHERT...
It’s a Shore Thing!
North Street Playhouse
Celebrating 25 years of
Theatre on the Eastern Shore
Inside this issue...
Things to do Before
Putting Your Home
on the Market 5 Homes for Sale on the
Eastern Shore
Why Home Equity Beats
Facebook Equity
Win
ter
20
12
Winter 2012 www.mason-davis.com
Winter 2012
Dear Eastern Shore Community,
Welcome to a new concept that will provide information about the Eastern Shore community.
This magazine will be published five times a year. Each issue will feature an non-profit organiza-
tion and a calendar of events.
Weichert Realtors Mason-Davis has been providing real estate services to the Eastern Shore of
Virginia for over 45 years and continues to provide professional service and superior quality. The
affiliation with Weichert Realtors offers our clients local, national and international exposure.
Our experienced Agents are always available. Come by, give us a call and visit the website at
www.mason-davis.com. The Agents of Weichert Realtors Mason-Davis look forward to meeting
with you and helping with your real estate needs.
Andy Mason
“Independently Owned & Operated”
Weichert Realtors Mason-Davis
47 Market Street
Onancock, VA
757-787-1010
1-800-288-7037
Winter 2012 www.mason-davis.com
Upcoming Shows
December 7,8,9 Miracle on 34th Street
February 15,16,22,23,24 Clybourne Park
April 19,20,26,27 Shirley Valentine
July 19,20,26,27,28 Pump Boys & Dinettes
Sharing a theatre performance with friends, and even strangers, is a unique and excit-
ing experience. It’s all happening right in front of you! Those of you who have
friends who think theatre is “stuffy”, point them to the 200+ people doing & watch-
ing “The Time Warp” in the middle of Market Street on the opening night of THE
ROCKY HORROR SHOW this past July! While we won’t promise that there will be
water guns at any performances this season, we can promise you evenings of laughs,
Christmas cheer, biting new comedy and awe inspiring talent! As always, there will
be a great mix of timeless classics and exciting new works in theatre. It’s going to be
Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspec-
tion. An inspector will be able to give you a good indication of the trouble areas that will
stand out to potential buyers, and you’ll be able to make repairs before open houses
begin.
Organize and clean. Pare down clutter and pack up your least-used items, such as large
blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment.
Store items off-site or in boxes neatly arranged in the garage or basement. Clean the win-
dows, carpets, walls, lighting fixtures, and baseboards to make the house shine.
Get replacement estimates. Do you have big-ticket items that are worn our or will need to
be replaced soon, such your roof or carpeting? Get estimates on how much it would cost
to replace them, even if you don’t plan to do it yourself. The figures will help buyers deter-
mine if they can afford the home, and will be handy when negotiations begin.
Find your warranties. Gather up the warranties, guarantees, and user manuals for the fur-
nace, washer and dryer, dishwasher, and any other items that will remain with the house.
Spruce up the curb appeal. Pretend you’re a buyer and stand outside of your home. As
you approach the front door, what is your impression of the property? Do the lawn and
bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants
framing the entrance? Is the walkway free from cracks and impediments?
Things to do Before
Putting Your
Home on the Market 5
1
2
3
4 5
Reprinted from REALTOR® magazine (REALTOR.org/realtormag) with permission of the NATIONAL ASSOCIATION OF REALTORS® Copyright 2008. All rights reserved.
Winter 2012 www.mason-davis.com
By: Lisa Kaplan Gordon Published: October 24, 2012
What is Appraised Value?
Appraisals provide an objective opinion of value, but it’s not an exact science so appraisals may differ.
For buying and selling purposes, appraisals are usually based on market value — what the property could
probably be sold for. Other types of value include insurance value, replacement value, and assessed value
for property tax purposes.
Appraised value is not a constant number. Changes in market conditions can dramatically alter appraised
value.
Appraised value doesn’t take into account special considerations, like the need to sell rapidly.
Lenders usually use either the appraised value or the sale price, whichever is less, to determine the amount
of the mortgage they will offer.
If the White House Were for Sale,
How Much Would it Cost?
Visit HouseLogic.com for more articles like this. Reprinted from HouseLogic.com and REALTOR® magazine (REALTOR.org/realtormag) with permission of the
NATIONAL ASSOCIATION OF REALTORS®.
Used with permission from Kim Daugherty, Real Estate Checklists and Systems, www.realestatechecklists.com
Here’s a fun look at possible price tags for presidential properties.
Yowza! A recent appraisal of The White House — as a prime property, not the seat of world power — set its
price at $1.5 billion (with a B).
The Wall Street Journal turned to D.C. appraiser Dennis Duffy to put a price tag on three current and former
presidential properties: The White House; Mount Vernon, George Washington’s home; and Monticello, Thomas
Jefferson’s home. Duffy considered the cost to rebuild, value of outbuildings, infrastructure, and land that could
be sold.
Duffy’s appraisal results:
White House: 100,000 sq. ft., 13 bedrooms, 35 bathrooms, and 18 acres of prime downtown real estate — $1.5 billion
Mount Vernon: 7,000 sq. ft. in suburban D.C., river view of the Potomac (though no bathrooms) — $150 million
Monticello: 11,000 sq. ft., four stories, 43 rooms, exquisite artisanship — $106.5 million
Visit HouseLogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the
NATIONAL ASSOCIATION OF REALTORS®.
Why Home Equity Beats Facebook Equity
By: Dona DeZube
Facebook’s IPO and subsequent stock value points up a simple truth: It’s easy to get caught up in the notion of getting rich quick. But there’s no surer way to wealth than home ownership.
As Facebook’s IPO approached, it was easy to start traveling down the “what if” path: “What if I had equity in Facebook?!? How rich would I be?” If my parents had only bought me Berkshire Hathaway stock for my first birthday in 1962, I’d have made some serious money in stock equities.
Alas, they didn’t recognize the hot stock of their era any more than I would recognize the hot stock of mine. Like most Americans, it’s home equity, not stock equity, that will pad my bank account when I hit the retire-ment finish line. About two-thirds of Americans invest in home ownership, but only half of us invest in stocks. (I suspect this is in no small part because we have to make our mortgage payments every month or the bank comes and takes our houses back.) The fact is, more of us are getting rich by buying and paying off our homes than by picking the next Facebook. Here are some interesting facts from the National Center for Real Estate Research:
6 in 10 of us have more home equity than stock equity.
One-fifth of Americans’ total net worth is home equity.
Home owners accumulate, on average, $167,000 in their lifetimes, compared to $42,000 for renters.
The median wealth for the poorest American home owners, those earning less than $20,000, is 81 times that of renters with similar income.
In a recent study that took into account falling home prices, buying was still more likely to generate wealth than renting, simply because renters are more inclined to spend instead of save and invest in stocks.
The bottom line is this: Even if renting appears cheaper on a spreadsheet, the forced savings of home owner-ship leads to wealth more reliably than renting. Many of us simply don’t have the willpower or motivation to save our discretionary income and invest it in stocks. So unless you’ve got the inside track on the next hot future IPO, keep making your mortgage payments.
What’s worth more right now, your IRA or your home?
Winter 2012 www.mason-davis.com
Information deemed reliable but not guaranteed
M33960HG - Land Exmore $25,000
M33895HG - Land Exmore $20,000
M35191AM Eastville
$129,000
M35181JB Exmore $69,000
M34993HG Exmore $75,000
M35098HG Exmore
$125,000
M35290AM Parksley $165,000
M35529AM Onancock $175,000
M35537AM Painter, VA $400,000
COMMERCIAL
M34982HG Exmore
$119,000
M35574CN Eastville
$119,000
Winter 2012 www.mason-davis.com
December
December 1st
Annual Holiday House Tour Chincoteague Island
757-336-6858
Old-Fashioned Christmas Parade Chincoteague Island - Main Street 7pm Chincoteague Chamber of Commerce
757-336-6161
December 7th
17th Annual Holiday Sampler Tour “Shake, Rattle & Stroll” 3pm-7pm
Northampton Chamber of Commerce 757-678-0010
December 8th
Onancock Christmas Homes Tour & Music Festival Onancock Business and Civic Association 2pm-6pm 757-302-0388
Holiday Open House at Ker Place Eastern Shore of Virginia Historical Society 2pm-6pm 757-787-8012
December 12th -14th
NOEL Night on Second Friday Downtown Onancock 4pm – 8pm
Onancock Business and Civic Association 757-302-0388
ESVA
Calendar of Events
Information deemed reliable but not guaranteed
Photos courtesy of North Street Playhouse
Winter 2012 www.mason-davis.com
January January 1st
Polar Pony Plunge Assateague Island, VA 1:13 pm
Christmas by the Sea
January 19th
Bowen McCauley Dance Company Nandua High School 8pm – 10pm
Arts Council of the Eastern Shore 757-302-0366
January 20th
Bridal & Prom Expo Chincoteague 12pm – 4pm
The Chincoteague Center 757-336-0614
February February 8th
The Virginia Symphony Nandua High School 8pm – 10pm
Arts Council of the Eastern Shore 757-302-0366
February 9th
February Freeze Cape Charles Beachfront 11am
Habitat for Humanity 757-442-4687
February 14th
Nature Lover Valentine’s Day Dinner Marine Science Consortium, Wallops Island 6:30pm – 9pm
757-824-5636
February 16th
The Beach Bumz singing songs of The Beach Boys The Chincoteague Center 7pm 757-336-0614