David Bruce

January 18th, 2012

Henrico County Foreclosures Drop in 2011

Henrico County foreclosures dropped by nearly 20% in 2011.  There were 786 foreclosures in Henrico in 2011 compared to 971 in 2010.

There had been a steady increase in foreclosures each year dating back to 2006.

The market continues to improve as inventories of homes are down in many neighborhoods and pending sales are up!

 Questions about the Richmond area real estate market?  Contact Skye Bruce Properties, one of the Top 10 Volume Real Estate Teams in all of Central Virginia!

January 2nd, 2012

Most Expensive Richmond Homes SOLD in 2011

This time of year it’s always interesting to look back and review the most expensive homes sold in the Richmond area. According to data reported by the Central Virginia Multiple Listing Service there were 31 single family homes which sold for $1,000,000 or more in the Richmond area. The City of Richmond had the most with 15, followed by Henrico (7), Goochland (6) Chesterfield (2) and Hanover (1).

The most expensive was a stately 10000 square foot home located near the Country Club of Virginia in Richmond. The home sold for $2,514,500 and featured 7 bedrooms, 8 full baths and 2 half baths. Built around 1860 the home sits on over 3 acres and has a pool.

Here is a Top 10 summary of the most expensive homes sold in the Richmond area in 2011. (Richmond, Hanover, Henrico, Chesterfield, Goochland and Powhatan) Read the rest of this entry »

October 25th, 2011

Time To Buy That House!

Great article below from WSJ.com posted in 10/15/11. Now is the time for sure to buy. Prices in the Richmond area are close to bottom and interest rates are below 4 percent. The moment we reach bottom and there is the slightest improvement,interest rates will jump quickly to 5 1/2 – 6 percent.  ~~Skye Bruce Properties

U.S. house prices have plunged by nearly a third since 2006, and homeownership rates are falling at the fastest pace since the Great Depression.

The good news? Two key measures now suggest it’s an excellent time to buy a house, either to live in for the long term or for investment income (but not for a quick flip). First, the nation’s ratio of house prices to yearly rents is nearly restored to its prebubble average. Second, when mortgage rates are taken into consideration, houses are the most affordable they have been in decades.

Two of the silliest mantras during the real-estate bubble were that a house is the best investment you will ever make and that a renter “throws money down the drain.” Whether buying is a better deal than renting isn’t a stagnant fact but a changing condition that depends on the relationship between prices and rents, the cost of financing and other factors. Read the rest of this entry »

September 6th, 2011

Home Improvements That Help You Sell (for more $$$)

If you’re planning to sell your Richmond area home any time soon, home improvements that build property value should be considered. It’s still a buyer’s market in Central Virginia, and Richmond home shoppers want homes that are move-in ready and free of the need for improvement projects that will add to their out of pocket expense of moving. The key is making sure that the home improvements you make pay you back.  Check out these suggestions!

Front  doors: Curb appeal is the first step in a successful home sale, and installing a beautiful, high-quality entry door is a simple home improvement that delivers a high impact for a small investment. A new entry door will also help lower home energy costs and stand up to weather extremes.

Attic Rooms: Converting an attic into useful living space is a smart way to add value and attract those shopping for extra living space and bedrooms.

Decks: Building a deck is one of the least-expensive ways to extend your living space. Composite decking is a great low-maintenance option, and even building a deck from pressure-treated wood can bring a return on investment of up to 80 percent at the time of sale. Read the rest of this entry »

July 17th, 2011

5 Great Richmond Homes w/ Investment Property Potential!

Thinking about purchasing an investment property?   Low home prices combined with low interest rates make this the best time in years to become a real-estate investor in the Richmond area.  The real-estate market is starting to recover and today’s market provides a unique opportunity for investors.

When the money is cheap to borrow and the houses are cheap to buy, it’s absolutely the best time to invest! If you buy a property with hopes of renting it out, location is key in the Richmond area. Homes in high-rent or highly populated areas are ideal!  Check out these 5 great Richmond area homes with investment property potential!

• 2510 Winston Court in Glen Allen, $169,000
• 714 Maybeury Drive in off Patterson in the West End, $209,950
• 6926 Vanderbilt Ave near University of Richmond, $234,950
• 3709 Danewood Drive in Wellesley, $244,950
• 4516 Park Ave in Richmond’s Near West End, $269,000

Interested in touring these great properties?  Contact Skye Bruce at Skye Bruce Properties!

July 10th, 2011

Buying A Richmond Area Luxury Home

Despite the doom and gloom the media portrays in the current real estate market, unique opportunities exist for many home buyers, especially luxury home buyers.

While home prices throughout the Richmond area have dropped across the board, luxury home prices have been especially hard hit as the market for such high-end properties has dwindled in challenging economic times.  This presents a great opportunity, for those who have the financial resources, to purchase a luxury Richmond area home that might have been completely out of their range 6+ years ago.

Purchasing a Richmond area luxury property is unlike a traditional home purchase. Luxury homebuyers should consider the following in their search: Read the rest of this entry »

July 3rd, 2011

Skye Bruce Properties Summer Home Tour continues…

Does warmer weather have you dreaming about a home with a  bigger yard, a deck or even a pool? Your dream can become a reality this summer with the help of Skye Bruce Properties!

Summertime is buying time! Whether you’re a first-time home buyer, moving up or even downsizing, summer is a great time to buy. In fact, there are more home sales from April to July than any other time of the year, according to the National Association of Realtors®. Home sellers want to move before the new school year starts, so you’ll find a large inventory of homes on the market. And mortgage rates remain historically low, so you can afford more house for your money. Inventory is fantastic right now so contact the experts at Skye Bruce Properties to get started on your fun, summer home tour!

Check out these FEATURED HOMES on our Skye Bruce Properties Summer Home Tour!

June 24th, 2011

Homeownership Still A Priority For Most

The National Association of Home Builders recently conducted a survey and found the vast majority of Americans still consider a home to be a good investment.

The May 3-9 telephone survey found that 75 believe “that owning a home is the best long-term investment they can make and is worth the risk of ups and downs in the housing market.”

Survey feedback on home ownership was very positive….

• 95 percent of the home owners said they are happy with their decision to own a home
• Of non-homeowners, 73 percent said owning a home is one of their goals
• 80% of home owners would advise a close friend or family member just starting out to buy a home

Good signs for a still struggling national real estate market!  Considering buying or selling a home in the Richmond area?  Contact Skye Bruce Properties for detailed information about the area real estate market and specific neighborhoods.

 

 

 

May 18th, 2011

Living in a Planned Community like Wyndham

A well-planned community like Wyndham in the Glen Allen suburb of Richmond offers a variety of benefits and housing choices. For many homeowners, it’s the perfect choice for today’s 24/7 lifestyles. So how do you decide which community is best? One of the biggest considerations facing any potential homebuyer is location. Is where you live convenient for work? Are there quality schools nearby? What’s the community like? Is it attractive? What about recreation — like a pool, parks, or a golf course?  Wyndham is certainly a popular choice.

Compare the neighborhoods you like, keeping in mind the advantages of living in a planned community. There are many more questions to ask, since location is a matter of personal preference, but the following basics will get you started as you begin your home search… Read the rest of this entry »

May 13th, 2011

Twin Hickory, Richmond’s Most Convenient Neighborhood!

Picture a neighborhood with an elementary, middle and high school in walking distance.  Picture a neighborhood with a grocery store, restaurants, ice cream shop, cleaners, pharmacy and other shops in walking distance.  Picture a neighborhood with a YMCA and public library in walking distance.  Picture a neighborhood with sidewalks, walking paths, playgrounds and pools. Sound to good to be true?  Not if you live in Twin Hickory!  Twin Hickory offers all this plus easy access to all area interstates, a 5 minute drive to Short Pump Town Center and West Broad Village, 3 minutes to Innsbrook, 5 minutes to 2 championship golf courses, 15 minutes to downtown Richmond and a straight shot down I-295 to Richmond International Airport. This planned development in the Richmond suburb of Glen Allen is a wonderful community and offers a wide range of homes. Check out these homes featured by Skye Bruce Properties! Read the rest of this entry »