Richmond Home Shopper

Get Represented When Buying A New Home From A Builder!

Even in a down real estate market there is no shortage of NEW homes being built and marketed by builders.  Many new home developments in the Richmond area have information or sales centers.  Be cautious when visiting as the builder’s sales agents are paid to represent the builder, regardless of what they may tell you. Due to the high volume nature of new home sales, usually builder’s agents are paid less than a traditional commission; some earn a salary plus incentives, so closing a high volume of deals is important to their livelihood. They are negotiating for the builder, not you and you could lose out on incentives, discounts and upgrades if you go it alone.

Hire a Buyer’s Agent to represent you before you visit an information/sales center.  Sometimes once you visit a development without an agent builders will not let you have representation at a later date.  Your Buyer’s Agent will be paid by the builder a set commission so having representation will not cost you more, you will only save through having your interests represented.

Skye Bruce Properties has new construction experts on staff to help you through the new construction process for any home in the Central Virginia area. Your Skye Bruce Properties REALTOR will represent you, be your fiduciary and will highlight the positives as well as the negatives about the transaction.  Builder’s agents don’t discuss drawbacks. Thinking of buying a new home from a builder?  Contact Skye Bruce Properties first!

Richmond Area Foreclosures…

Area home sales have picked up, however prices continue to fall, although prices region-wide are down by less in the second quarter of 2010 than they were in the first quarter. The average sales price in the Central Virginia region was $229,545 in the second quarter of 2010, down four percent from the second quarter 2009 average. The median sales price was $196,383, also down four percent from a year earlier. Foreclosures are certailnly playing a role in this drop. Read the rest of this entry »

Richmond Metro Area Experiences Accelerated Home Sales in 2nd Qtr!

More positive news for the Richmond area real estate market!  The Richmond Association of REALTORS and Central Virginia MLS are reporting accelerated home sales in the Months of April, May and June 2010.  Below is the report:

National and Local Economic Overview
The national economy slowed in the second quarter of 2010 as many indicators decelerated from their growth rates in the last half of 2009 and the first quarter of this year.  One of the reasons for the slowdown in the economic recovery was a growing concern about the financial stability of Western Europe.  This concern caused some negative volatility in the financial markets in the U.S., but those concerns seem to be subsiding as the EU central banks have acted and as many have realized how small the troubled countries’ economies are relative to all of Western Europe.

Another reason for the slowing is a following of historical trends—after a recession the economy bounces sharply and then grows more slowly.  It is likely that economic measures over the past few months are indicating a slow patch and continued adjustment will be seen before a steadier and sustainable climb will be realized.

The Richmond economy is clearly in a better position in 2010 than in 2009, and is almost back to realizing job growth again, which will be a very positive sign for the housing market. Read the rest of this entry »

Choosing The Right Richmond Area Neighborhood For You

Where do you want to live in the Richmond area? The answer depends on your wants and needs, and you should choose a Richmond area neighborhood accordingly.

If you’re just starting out, you may want a home for investment purposes, where you can live in one part of the home and rent out the other to defray costs. If you don’t have a car, the proximity of shopping, public transportation, and recreation will be important. And if you have a family, your central concerns may be schools, libraries, playgrounds and recreation centers. Read the rest of this entry »

Time To Buy A Richmond Area Home?

Is Now the Right Time to Buy a Richmond area home? Given all of the drops in the Richmond area housing market in the last few years, many people are wondering whether now is the right time to buy a new house. Should you snatch up the good deals before prices start to rise or should you wait it out a little bit longer to see if the prices will drop even more? It can be somewhat of a gamble, so it is important to make sure that you know a few facts about the current market so that you can make the best possible decision.

One of the most important facts you should consider when determining whether now is the right time to buy a new house relates not to the market but your own situation. Consider how long you plan to live in the home. While you might not be able to look into a crystal ball and see the future, consider what you know at the moment. If you know for a fact that you plan to upgrade or even move out of the area within the next five years, then now might not be the best time commit to the purchase of a home. On the other hand, if you feel fairly confident with the fact that you will be living in the home for at least five years, then now could be a really good time to purchase a home. Read the rest of this entry »

Homebuyer Tip: Look Past Paint!

When buying a Richmond area home don’t worry about the paint color!  It’s an easy fix and change.  Most experienced homebuyers realize this, but many new or first time homebuyers sometimes get caught up in wall colors and other aesthetic features which can be easily changed.  Check out this clip from HGTV’s Property Virgins.  Good advice!

Looking for more great tips when buying a Richmond area home?  Our Buyer’s Agents at Skye Bruce Properties are Accredited Buyers Agents and are experts at helping people through the home purchase process. They know Richmond and give critical advice and support to get you in a great home at a great price. Contact Skye Bruce Properties!

SUMMER HOME TOUR!

Each summer Skye Bruce Properties has a special event called the SUMMER HOME TOUR!  This week we are kicking off the event featuring 3 great Open Houses on Sunday!  Check out our “listings page” for details by clicking HERE! Be on the lookout for more great Open Houses throughout the summer and look for Skye Bruce Properties at summer events and festivals throughout the Richmond area!  Thinking of buying or selling Richmond area real estate?  Nobody helps people buy and sell homes like Skye Bruce Properties!  Contact us today!

Richmond Housing Shortage?

Lawrence Yun, the Chief economist for the National Association of REALTORS wrote this interesting article about a possible housing shortage in the future.  The lesson to keep in mind is that the real estate market is very cyclical with regards to inventory, pricing etc. Believe it or not there is actually a shortage of homes on the market in some Richmond neighborhoods and while it will still take some time for the market to completely rebound as a whole, we are experiencing a real estate recovery.

In the current market, the idea of a housing shortage may be hard to accept. There are simply too many For Sale signs and delinquent mortgages threatening to turn into foreclosures to make a housing shortage seem like a serious possibility. Read the rest of this entry »

Pending home sales rise 6.7 percent

Biggest monthly jump in more than seven years may signal slump is ending!

WASHINGTON – The number of U.S. homebuyers who agreed to purchase a previously occupied home in April posted the largest monthly jump in more than seven years, a sign that sales are finally coming to life after a long and painful slump.

The National Association of Realtors said Tuesday its seasonally adjusted index of sales contracts signed in April surged 6.7 percent to 90.3, far exceeding analysts’ forecasts. It was the biggest monthly jump since October 2001, when pending sales rose 9.2 percent. Read the rest of this entry »

The “Keys” to Homeownership

(ARA) – “It’s a buyer’s market” is a popular headline right now. It’s one that’s hard to ignore, especially if you’re a young adult or even a long-time renter who has been waiting for the right time to pursue the American dream of owning your own home in Central Virginia.

Buying your first home can be scary, but as with anything else in life, the right preparation should bring you good results – a great Richmond area home you want and one you can afford.

Whether you are ready to buy a Richmond area home in the next few months or next few years, preparation is critical. The following are important “keys” to homeownership. Read the rest of this entry »