David Bruce

Buying A Home Category

November 16th, 2008

First Time Homebuying 101

So, you’re thinking about buying your first home in Richmond, Virginia! Congratulations! It is a very exciting decision and has the potential of being a great financial investment. Richmond has outperformed real estate markets in many other parts of the country and most national averages.

Many people hold off on purchasing because they feel they don’t have an adequate down payment. This is often not the case, and finding a loan with very little money down loan is possible even in today’s 2008 mortgage industry. Read the rest of this entry »

November 13th, 2008

12 Ways to Lower Your Homeowners Insurance Costs

When buying a home in the Richmond, Virginia Area there are many things to consider. Neighborhoods, schools, shopping, style of home, price per square foot by area etc. etc. While Richmond, Virginia is not prone to natural disasters like Florida and California it is important to have the right Homeowners Policy. You want to make sure you are completely covered while at the same time you do not want to over pay. The price you pay for your homeowners insurance can vary by hundreds of dollars, depending on the insurance company you buy your policy from. We found a great list of 12 ways to lower your homeowners insurance costs courtesy of the Insurance Information Institute. Here are some things to consider when buying homeowners insurance: Read the rest of this entry »

November 12th, 2008

10 Most Important Questions to Ask Your Home Inspector!

1. What does your inspection cover?

The inspector should ensure that their inspection and inspection report will meet all applicable requirements in your state if applicable and will comply with a well-recognized standard of practice and code of ethics. You should be able to request and see a copy of these items ahead of time and ask any questions you may have. If there are any areas you want to make sure are inspected, be sure to identify them upfront.

2. How long have you been practicing in the home inspection profession and how many inspections have you completed?

The inspector should be able to provide his or her history in the profession and perhaps even a few names as referrals. Newer inspectors can be very qualified, and many work with a partner or have access to more experienced inspectors to assist them in the inspection. Read the rest of this entry »

November 3rd, 2008

Budget Do-It-Yourself Moving Tips

(ARA) – If you’re one of the approximately 50 million Americans moving this year, you probably don’t want to spend a fortune to get from point A to point B. With a little planning ahead, it’s possible to execute a do-it-yourself move without breaking the bank.

According to the U.S. Census Bureau, about 16 percent of all moves are work-related — moving to find a new job or to be closer to a current job. Whatever your reason for moving, you don’t have to pay a company to pack up your belongings and transport them to your new home. Here are some easy ways to move yourself and stay on budget:

• If you need to rent a truck or trailer, especially if you only have a few large items that can’t fit into your vehicle, check out your local big box retail hardware store such as Lowes. They rent trucks and trailers by the hour at a fraction of the cost of renting from a moving company.

• Collect free boxes from friends, family and from local grocery and liquor stores. Save old newspapers to wrap valuables in instead of purchasing expensive rolls of bubble wrap.

• Plug in the refrigerator at your new place a day or two ahead of time. Pack frozen and perishable foods in a cooler with ice packs and unpack that food into your new fridge first. Having your food melt or go bad means an additional, and expensive, trip to the grocery store.

• Pick up change of address forms, free of charge, from the post office. Request a free “welcome kit” from the local chamber of commerce in your new community. These kits contain valuable information and often include money saving coupons for local businesses.

• Pack wisely and avoid filling boxes so much that they’re too heavy for you to lift without help. You’ll get more done with each person carrying their own box.

• Clear a path. Before you lift a load, make sure you’ve got a clear path to your destination. You won’t be able to see well or move obstacles out of your way once the load is in your arms.

• Use the right tools for the job. Hand trucks can be rented inexpensively and should be used to transport multiple boxes at once or smaller items of furniture. Remember that hand trucks are not good for moving items up or down stairs and are difficult to maneuver around tight turns. For large pieces of furniture, appliances, stairs and tight spaces, try the Shoulder Dolly, an ergonomically designed, patented harness system that allows users to lift with their legs and safely pick up virtually any heavy or bulky item in the home (www.shoulderdolly.com) This is a great product!  Check out this short video:

• Working in two-person teams, users simply strap into the Shoulder Dolly, slip the carrying strap under the item to be lifted, and then use their leg muscles to lift the weight. By using your legs (your strongest muscles), the Shoulder Dolly significantly decreases the strain and risk of injury to your lower back, hands, biceps and forearms. This is an awesome product!

• Don’t end up in the hospital. When lifting a load, keep your back straight and bend your knees. Keep your head up and look straight ahead to ensure your back remains perpendicular to the ground. Hold the object securely and use the large, powerful leg muscles to lift the weight. Avoid twisting or turning at the waist when lifting. Turn your entire body by moving your hips first, which will force your shoulders to stay in line.

Good luck with your move!

November 3rd, 2008

Agent Spotlight: Laura Williams

Laura Williams has been working in the real estate industry since 2004 and has been a Buyer’s Agent for Skye Bruce Properties since 2005. Her extensive experience working with buyers is demonstrated by her obtaining a Distinguished Achiever Award from the Richmond Association of Realtors in 2006.

Laura is a graduate from the University of Indiana and holds her Accredited Buyer Representative designation from the National Association of Realtors – a testament to her strong commitment to professionally representing buyers.

Beacuse of her strong dedication and service to her clients, Laura is a top choice of buyer’s all over the Richmond area. Even in the tough 2008 real estate market, Laura is the #5 REMAX Agent in Central Virginia and in the Top 20 statewide!

November 3rd, 2008

First Time Homebuyer Mortgage Myths

As first-time home buyer’s grow curious about the home-buying process, they often turn to friends and family for advice about purchasing a home. While these sources can provide useful tips and information, they also may perpetuate some common home-buying myths.

While family and friends may have the best intentions when sharing their purchase experiences, it is important to make sure that first-time homebuyers have accurate information.

There are many resources first-time buyers can use for learning about the home-financing process, including attending local mortgage seminars or researching online. Well-known mortgage lenders often have educational resources and mortgage tools on their Web sites.

So what are some common home-buying myths? Read the rest of this entry »

November 1st, 2008

How to Buy a Pre-Foreclosure House

This article I recently found on HGTV.com and was re-published from RealtyTrac, an online foreclosure resource guide.  We see foreclosures in the news quite a bit and hear that there are some fantastic deals out there.  This article I thought provided great information on how to find a bargain and how to go about the process!

Six steps to finding a Foreclosure Bargain! By RealtyTrac | Published: 2/03/2008

The pre-foreclosure stage — the period from when a Notice of Default or LisPendens has been issued until the time the lender puts the property up for an auction — can last several months, so buying during this time requires a lot of patience and persistence. It typically offers the best bargains, but it’s also the most difficult stage to purchase a distressed home. Understand that the owner still has a chance to stop the foreclosure process by paying off what is owed or by selling the property. Here’s what to do: Read the rest of this entry »

September 24th, 2008

City of Richmond Lags Behind Counties in Home Ownership, BUT Improving! What does it mean?

The City of Richmond continues to lag behind area counties in home ownership, but by percentage the city is improving.  Based on figures from the US Census, the percentage of owner occupied properties in the city was 51% compared to 66.2% in Henrico County, 77.6% in Chesterfield County and 83% Hanover County for 2007.  The Virginia statewide average is 69.5%. A bright spot for the City of Richmond is the 51% in 2007 is an improvement over the 46% in 2006 which could be attributed to a drop in housing prices in the softening real estate market. What does it mean? The current real estate market is a great opportunity for first time homebuyers to get in the home ownership game. Mortgage rates continue at low level, prices in the market have dropped and sellers are willing to negotiate more than ever before. This has created a window of opportunity for buyers to take advantage of.

Above figures from US Census Bureau.