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Archive for January, 2009
Curb Appeal Matters When Selling!
Don’t underestimate the importance of curb appeal when selling your Richmond home. Not only is there an acute price war going on out there, there’s also a beauty contest being staged. Richmond has many great looking homes on the market all over town. You may be strategically located in a quiet cul-de-sac near great schools, great health care facilities and fabulous shopping, and you may have easy highway access for that morning commute, but unless your exterior is well coiffed and in sparkling condition, other offerings will outshine it. If your home’s outside doesn’t pass the drive by test, the interior won’t, because it will not be viewed by serious buyers, who are already off to view the next Richmond home on their list.
Click here for a Curb Appeal Before and After Slide Show from HGTV!
Biggest Real Estate Myths (Today Show)
TODAY SHOW real estate contributor Barbara Corcoran did a segment on Tuesday with Matt Lauer about real estate myths. We don’t always agree with Barbara because sometimes her opinion and views are influenced tooheavily by the New York metro real estate market which don’t always equate to the reality of the Richmond market. In this case however we thought the segment was pretty good and worth sharing with our readers. Below is the video segment followed by the text.What’s going on in the Richmond real estate market? Click here to get a MARKET SNAPSHOT!
CLICK HERE FOR TODAY SHOW REAL ESTATE MYTH VIDEO>>>>>
Today Show Exclusive from Barbara Corcoran: The truth about the housing market. In today’s uncertain market, fear runs rampant on both the buying and selling sides of the fence. Many myths need debunking. Here are five untruths held by buyers, and five held by sellers. Read the rest of this entry »
Price Your Home Right From The Start!
Even in the relatively stable Richmond Virginia real estate market, don’t start out too high just to test the waters. Your backup plan of adjusting on the fly may prove futile. Keep that window of opportunity open from the first time the for-sale sign appears on your lawn. The first 30 days a home is on the market are when it gets the most attention from potential buyers and their agents. Read the rest of this entry »
State Of The Union Address 2009 for Richmond Real Estate
In Richmond, Virginia residential real estate, 2009 arrives much the same way that 2008 did: via a rocky road with deepening potholes. While more homebuyers are swooping in and picking up great deals in Central Virginia, the ongoing excess inventory of homes (around 9 months worth at last check) continues to soften the market.
While potential Richmond home buyers are getting very low mortgage rates, they also are facing much tighter credit standards and demands for significantly larger down payments. And we have barely started to feel the financial fallout from adjustable rate mortgages, slated to ratchet up in 2009. Read the rest of this entry »
Moving To Richmond Made Easy!
How to move to Richmond and feel at home right away.
(ARA) – Moving to a new community like Richmond, Virginia can be a great adventure, if you go with the right attitude and a sound strategy for settling in. Make an action plan and you’ll stay focused, organized and proactive — just what’s needed to put roots down fast. Read the rest of this entry »
Buying A Home? Negotiate Cash Extras!
Negotiate extras, ALL YOU CAN!!!
This is a no-brainer in the current market Central Virginia real estate market. But while Richmond area sellers continue to offer throw-ins such as built-in appliances, and even flat-screen TVs, the best throw-ins are always the ones that take monetary form. Think paid closing costs, a year’s worth of property taxes, repair credits and paid homeowners association dues, to name only a few. You may not get them all, but ask for these items during negotiation to get them on the table. Asking for these cash items is sometimes more effective than going in with a low-ball offer. Sellers are less likely to be offended if you ask for these smaller individual items which may add up big. This type of negotiation is know as “nibbling”. Read the rest of this entry »
Has The Market Hit Bottom Yet?
I read a great article today by Melissa Dittmann Tracey on the Daily Real Estate News titled “Has The Market Hit Bottom Yet?” Enlightening about the forecast for 2009. Sounds like the bottom is in sight but we haven’t quite hit it yet! There are signs of a turnaround coming!
Daily Real Estate News- January 21, 2009 Has the Market Hit Bottom Yet? By Melissa Dittmann Tracey
LAS VEGAS – The sluggish housing market will likely hit bottom in 2009 before picking up slightly by year’s end, economists said Tuesday in a Housing Economic Outlook press conference at the International Builder Show.
Chief Economists David Crowe of the National Association of Home Builders, David Berson of the PMI Group, and Frank Nothaft of Freddie Mac offered up their forecasts for the housing market for 2009.
Click on this link to read entire article: http://www.realtor.org/RMODaily.nsf/pages/News2009012102?OpenDocument&WT.cg_n=RMO&WT.cg_s=RSSDaily
Draft of Henrico County Land Use Plan
The Planning Commission held a Public Hearing regarding the Draft 2026 Comprehensive Plan last night. The 2026 Comprehensive Plan is the land use plan for the county through 2026. The current plan ends next year. This meeting was held in the County Administration Building and drew a sizable crowd with very mixed views on the plan. Many residents especially in the more rural end of Henrico County are concerned about urban sprawl, traffic and over-development.
Read Blog Entry and Opinion on the subject from the Historic Varina Blog.
Governor Awards Richmond Area Schools, Good For Real Estate!
Public Schools in Richmond, Chesterfield, Hanover, Henrico and Goochland all awarded! Good for schools, good for real estate!
Governor Timothy M. Kaine today announced that 162 Virginia public schools have earned the 2009 Governor’s Award for Educational Excellence. 24 of those schools were located in the greater Richmond metro area (City of Richmond, Chesterfield County, Henrico County, Hanover County, Goochland County) The award is the highest honor under the Virginia Index of Performance (VIP) incentive program created by the Board of Education to advance Governor Kaine’s “competence to excellence” agenda to encourage advanced learning and achievement in the Commonwealth’s public schools. Last year, 89 schools received the award.”The fact that nearly twice as many schools met or exceeded the rigorous criteria for the award this year speaks to the progress Virginia’s public schools are making,” Governor Kaine said. Read the rest of this entry »
Lowball Real Estate Offers In Richmond
What is a lowball offer? Who makes these types of offers? Most of us think of some slick investor trying to get one over on you. That is not the case anymore. Lowballers are young families, recent college grads, newlywed couples, single moms, probably the opposite of what we would think of as a lowball real estate buyer.
Why are we seeing atypical lowball buyers making lowball offers? Because they can be successful doing so! A lowball offer is usually an offer less than 90% of the asking price of a home. This practice was pretty rare around Richmond just months ago, but now we are seeing more and more of it. Sellers are getting anxious with the continued uncertainty in the economy and buyers know this. Local bad economic news from once giants like Circuit City, Genworth Financial and LandAmerica just make matters worse. Read the rest of this entry »
