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Archive for the 'Buying A Home' Category
First-time Richmond Homebuyers Tips
(ARA) Spring– for many Richmonders it’s synonymous with the Strawberry Hill Races, the Monument Avenue Easter Parade, warmer days, greener landscapes … and a more plentiful housing market. Just as daffodils start popping up in neighborhoods throughout Richmond, so too will “for sale” signs adorn lawns all over Central Virginia.
But given the current economy, does this mean that it’s a good time to buy for first-time homebuyers? For Eric Wright, assistant director of admissions at Brown Mackie College – Louisville, who has more than 12 years of experience in the mortgage industry, the answer is yes. “It is probably the best time to buy or refinance ever,” he says. “It is a buyer’s market, and interest rates are the lowest they have been in history. Also, homebuyers can receive an $8,000 tax credit this year if they purchase a home by Dec. 1, 2009.” Read the rest of this entry »
Real Estate Starting To Bottom Out?
We continue to see good news! Existing home sales rose 5.1% last month nationwide to a stronger than expected pace of 4.72 million units. This is the latest sign that the real estate market could be bottoming out and beginning to rise. 2 other positive signs signs include:
#1- Homebuilders are breaking ground on new homes.
#2- First-time jobless claims are falling.
Good news for the country’s real estate market which has seen mostly bad news for the past 2 years. If the economy continues to trend stronger into the summer, it could also contribute to stock market gains, drawing cash away from mortgage bonds. The result would be higher mortgage rates. Remember our current mortgage rates are artificially low, supported by government intervention. After last weeks Federal Reserve’s announcement rates fell to record lows around 4.5%. Read the rest of this entry »
Home Inspection Helps Ensure Dream Deals Don’t Turn into Nightmares
ARA- You found your dream deal on a Richmond area home, but will that great price tag come with a different kind of higher cost? Buying a repossessed property, short sale or a home offered at a bargain price — because of its condition — can mean you’re assuming much higher risks.
Repossessed and short sale homes are often abandoned and neglected, leaving them with much more potential for unforeseen structural defects, plumbing, electrical, heating systems, environmental issues and many other problems. Fixing these woes can cost far more than the financial savings from a distressed property purchase. There also may be unknown defects, such as mold or radon, that could affect your family’s health and safety. Read the rest of this entry »
How To Make A Real Estate Offer
You’ve visited Bon Air, Ginter Park, Mechanicsville, Varina, Midlothian, Short Pump, the Fan and scores of other Richmond area neighborhoods looking for the that perfect home. After months of searching you finally found the home of your dreams. Now what? The next step in the process is to write an offer. How? It’s not as easy as it sounds. Your offer is the first step toward negotiating a sales contract with the seller. Since this is just the beginning of negotiations, you should put yourself in the seller’s place and imagine their reaction to everything you include in your offer. Your goal is to get what you want, and imagining the seller’s reactions will help you attain that goal. Read the rest of this entry »
More Good News for Richmond Homebuyers!
The fed’s made the decision to buy bonds and mortgage backed securities in hopes of bringing down long term interest rates. So far so good! Interest rates have dropped under 5% last week to their lowest levels in more than 30 years. Whether you are a buyer or a seller, this is good news. If you have a higher interest rate and don’t plan on selling, contact your lender about refinancing. If you are a buyer, there is no better time to buy with rates under 5% and with the $8000 tax credit available to many in 2009. What are you waiting for? Search available homes with our 3 great options! OR contact Skye Bruce Properties, the Official REALTORS and Buyer’s Agents of RichmondHomeShopper.com.
Buy Your First Home, NOW!!!
What a great time to buy your first home! Richmond area home prices are low making it a buyer’s market, mortgage interest rates are low and the government is now giving an $8000 tax credit that you do not have to pay back. The new tax credit is a great benefit that should be taken advantage of! It’s free money!
First-time home buyers who purchase a home this year can take advantage of the stimulus bill’s $8,000 tax credit, the U.S. Department of the Treasury said in a news release on Wednesday.
Unlike the previous $7,500 credit available to this group of buyers, the credit outlined in the American Recovery and Reinvestment Act of 2009 does not have to be paid back if the home remains the buyer’s primary home for at least 3 years after the purchase date, according to the Internal Revenue Service’s Web site. First-time buyers, for the purpose of this credit, are those who have not owned a home in three years. So even if you owned a home 3+ years ago you still qualify! Read the rest of this entry »
Taking Advantage of the Housing Crisis: New Construction
The economic downturn has already caused Richmond area home prices to drop. Home builders are feeling the pain as well and in some cases they are desperate to turn their inventory of new homes into cash.
How can potential new home buyers turn this to their advantage? Read the rest of this entry »
Buy A House, Get A Free Dog!
The BLOG Entry That Made Us Famous!
Buy a house using a RichmondHomeShopper.com Buyer’s Agent and we will cover the adoption fee for the pet of your choice from the SPCA or other local animal shelter. Not quite ready for a pet? We will make a donation instead.
At RichmondHomeShopper.com we wanted to create a fun promotion and at the same time do something positive for our community. A new home and a new pet just seems to go together! Heck even our new President has promised his daughters a new dog when they move in the White House!
Contact Skye Bruce Properties, The Official REALTORS and Buyer’s Agents of RichmondHomeShopper.com to get started finding your new home! (and your new pet!)
Don’t Overlook Neighborhood Issues When Buying A Richmond Home
When buying a home in the Richmond area, don’t overlook these important neighborhood issues: quality of schools, traffic noise, upcoming zoning issues, neighborhood stability, home turnover, crime levels and the presence of any sex offenders. Just about all these issues can be researched online from the comfort of your home. This is also where a quality REALTOR can assist. Sometimes there is a reason for a “great deal” on a property and the reason can make a purchase a bad investment if there is a negative neighborhood issue.
Buying a home soon in the Richmond area real estate market? RichmondHomeShopper.com has a dedicated team of Accredited Buyers Representatives to serve our clients through our exclusive REALTORS, Skye Bruce Properties. Our team is made up of EXPERTS at representing people in the purchase of a home. They follow a proven Home Buying System when assisting clients. It is a low stress, information driven and organized Home Buying System THAT WORKS! Our dedicated Buyer’s Agents are always committed to best position our clients to purchase a home at the best price and terms, with the best financing and they offer the best real estate representation available. Contact Skye Bruce Properties today!
Cash Gives You An Edge When Buying Richmond Real Estate
In these difficult and challenging times cash can give you an edge in buying a home. Cash, equtes to more buying clout now in these tough financial times. In the past, people have sought out more liquid investments for their cash on hand and grab an easy to get low interest mortgage. Today with the equity markets depressed at the same time that mortgage lending has tightened the tables have turned. Those wielding ready cash in a recession are always ahead of the game. Having cash gives you a leg up in securing better terms for your mortgage and in negotiating with sellers. Sellers that know you are well qualified will spend much more time negotiating because you will be viewed as serious buyer. Read the rest of this entry »
