Richmond Home Shopper

New Willow Lawn Area Development

Remember the cool, retro style motel in the movie FORCES OF NATURE starring Ben Affleck and Sandra Bulluck.  That was none other than the old Executive Motor Inn on Broad Street near Willow Lawn.  Today the old hotel/motel is closed, fenced in and looking ready for demolition.  The Henrico County Planning Commission recommended approval to demolish the structure to pave the way for a mixed use of residential, office and retail space.

As development moves farther and farther west on Broad Street to Short Pump and beyond it’s great to see revitalization “back east” on Broad.  The Willow Lawn area was certainly a Short Pump type area in the 60’s and 70’s and today it remains a vibrant and prime location.  A block over in the 5200 block of Monument Ave, a new luxury condo/townhome development called Monument Square is being built where just a few years ago stood old, blighted apartments.

Interested in learning more about new developments around the Richmond area?  Skye Bruce Properties has a team of experts in helping home buyers locate the best new developments and communities.  Contact Skye Bruce Properties today!

Today Show Video: Buying vs. Renting

Today Show segment about deciding whether to buy or rent a home.   David Gregory interviews Barbara Corcoran, Real Estate Expert.  Click on photo below to see video!

Click Photo To See Video

Mortgage Market Update

Positive inflation numbers helped mortgage rates move lower early last week, but stronger than expected economic data turned them higher later in the week, leaving mortgage rates nearly unchanged from the previous week. The announcement of larger than expected Treasury auctions next week ($104 billion) also was negative for mortgage rates. Read the rest of this entry »

Richmond Foreclosures; A Good Deal?

Rarely does a week go by that we don’t hear from a home buyer; “I want a great deal.” No one wants to pay asking price for a home these days so many home buyers are looking for Richmond area foreclosures to get a deal. But are you really getting a great deal when you purchase a home from the bank?

The short answer to this question is maybe. Property values throughout the county have dropped considerably over the last couple of years. If you compare current home values in Richmond with what value of homes were three years ago, home buyers are getting a great deal across the market whether its a foreclosure or not. Read the rest of this entry »

What Is Your Richmond Home Worth?

The last year has been a tough one financially.  Our investments such as 401K’s have taken a hit and many of us follow the stock market and our investment accounts monthly, weekly and sometimes even daily.  But what about our homes?  For most of us its our largest investment.  Are you among the 95% of homeowners who don’t know the market value of your home?

If so you should consider having a REALTOR prepare a Comparative Market Analysis (CMA) for your home.  A CMA compares your house with similar ones on the market in your neighborhood and homes which have recently sold.  This information will give you an accurate value of your homes worth.  Remember the real estate market constantly fluctuates so its a good idea to obtain one each year.  Even if you are not selling your home right now, a CMA can help you determine your current net worth. Remember a CMA is the only market based method of measuring home values.

“Thinking of buying a home?  A CMA for the property you are considering can be an important component in developing a negotioation strategy in determining your first offer and what you are willing to pay for a home”, says Skye Bruce of Skye Bruce Properties.

Would you like a CMA for your home?  Contact Skye Bruce Properties, The Official REALTOR of RichmondHomeShopper.com for a custom CMA or create one yourself by using Skye Bruce’s MARKET SNAPSHOT.  MARKET SNAPSHOT allows you to see all the homes on the market in your area and what homes have sold for recently.