David Bruce

Archive for May, 2009

May 29th, 2009

Don’t Buy the Most Expensive Home in a Richmond Neighborhood!

It’s much better to own a modest home in an expensive Richmond neighborhood than the most expensive one in a modest Richmond neighborhood.

I’m sure most of you have heard this saying (or something similar like “never buy the most expensive home in your neighborhood”) at least a few times. It’s a good rule-of-thumb. If you own the most expensive home in an area you are limiting the market for its resale. Why is that? Because people that buy more expensive homes generally want to live in more expensive neighborhoods, not one that’s a step or two down from the home they’re buying. Read the rest of this entry »

May 27th, 2009

Buying A Richmond Home For Less!

While buying a home can be a stressful process, it can also provide you great sense of achievement and satisfaction. Here is some helpful advice for you to consider when trying to get the best deal on a Richmond area home.

Vacant Properties

Vacant properties in the Richmond area are a great way to get good deals. Properties that are vacant do not have anyone living in them and are not making any money for the seller. Often, sellers are very willing to enter aggressive negotiations to get these properties off their books. This can be a great negotiation point for you, the buyer. Read the rest of this entry »

May 18th, 2009

Driveway Improvements Speed Home Offers and Lower Costs

(ARA) – With a “For Sale” sign in your Richmond area front yard, you’ll want potential buyers to take a good, long look at your property. And even if you’re not planning a move, you want to be sure you protect and maintain your home to keep future repairs at a minimum.

Real estate is a tough market today in Richmond. If you’re a seller, creating curb appeal is a key to entice potential buyers to come inside for a second look. Home selling experts predict that as many as 40 percent of potential buyers reject a home based on their first impression of the front of the house. The general appearance of the front yard is the single largest factor shaping impressions of your home.

“Driveways and sidewalks are the first impression people have of your home. Well-maintained driveways and sidewalks create a strong first impression. On the other hand, if they are worn, cracked, stained and faded, that creates messages about what someone might find inside the home,” says home improvement industry expert Gordon Blickle of Gardner-Gibson. Read the rest of this entry »

May 7th, 2009

Pending home sales jump 3.2%!

CNN-Money Article….Buyers defy expectations with an increase in sales contracts signed during March. Is the housing meltdown ending?

Pending home sales rose in March for the second consecutive month and are up year over year. The Pending Home Sales Index from the National Association of Realtors showed a 3.2% gain to 84.6 from February, when it was 82. The index stands 1.6% higher than a year ago.  The consensus forecast of industry experts polled by Briefing.com had predicted no increase in the index.

It may still take a while before the market gains enough momentum to firmly state that the downturn has been reversed, according to Lawrence Yun, NAR’s chief economist. And, the upturn may have been boosted by the first-time homebuyers tax credit, a temporary measure that will lapse in December. Read the rest of this entry »

May 4th, 2009

Buying A Richmond Area Townhouse

For those who feel a single-family house too big or takes to much effort to maintain, buying a townhouse can be a perfect solution. Here are a few things to keep in mind that will help you with your purchase of a Richmond area townhouse.

A townhouse is part of a building with attached neighbors, but the neighbors are only beside the unit, not above or below. Also, a townhouse often includes a small deck or backyard space.

Check out the homeowners’ association of any townhouse that you are interested in purchasing. Ask to see the previous month’s minutes so that you can see what issues were brought up. This can give you insight in to what issues are considered important in the townhouse community. When buying a townhouse, also remember to find out how much the homeowner’s dues are and what comes with paying that fee. Read the rest of this entry »