February 18th, 2009
Obama’s Foreclosure Plan
President Obama to set aside $75 billion to slow foreclosures! Goal to bring mortgage payments down to 31% of income!
The Obama administration has rolled out a plan to help 9 million troubled homeowners modify their mortgages at a cost of $75 billion to taxpayers. There are two parts of the plan to help:
#1 To help refinance 5 million home owners in trouble with loans owned or guaranteed by Fannie Mae or Freddie Mac.
#2 To make loan modifications with government subsidies to lenders to reduce monthly interest payments.
Some highlights…. Read the rest of this entry »
February 17th, 2009
Stimulus Falls Short For Real Estate
Late last week the House and the Senate agreed on a compromise $789 billion fiscal stimulus plan, which is expected to pass within days. The Obama administration estimates that the plan will create 3.5 million jobs. Both the House and the Senate had passed versions which were larger than the final compromise plan, and the reduction in scope helped mortgage markets. A smaller plan means that the government will have to issue less debt. Unfortunately, one of the spending cuts in the final plan was a provision for a $15,000 homebuyer tax credit, which came with an estimated price tag of $35 billion. This was a measure which experts say could have quickly energized the real estate markets. Instead, the government will leave in place an existing $7,500 tax credit, applicable to only first time homebuyers. The good news and primary change to the tax credit is that it will no longer need to be repaid. The estimated cost of this $7,500 tax break is less than $3 billion.
In the market for a home in the Richmond area? Be smart and meet with a knowledgeable REALTOR and mortgage lender. Skye Bruce Properties, The Official REALTORS and Buyer’s Agents of RichmondHomeShopper.com has a support team of industry experts including mortgage lenders. Contact them today!
February 16th, 2009
5 Ways To Control Your Homeowners Insurance Costs
Some great tips from the Richmond Farmers Insurance Team to control your Homeowners Insurance Costs. In our tougheconomic environment this is good advice. Sometimes we over-look evaluating things like this which can save us hundreds of dollars. It all adds up!
- Shop around. Remember, cheaper insurance rarely means better insurance. Ask your friends, realtor, or mortgage broker who they recommend. Seek out a trusted professional to explain vital coverage differences. You can also check the National Association of Insurance Commissioners (www.naic.org). They will have information to help you choose a reputable insurer in your state.
- Raise your deductible. Deductibles are the amount of money you have to pay toward a loss before your insurance company starts to pay a claim. The higher your deductible is the lower your premiums are. A typical Home Owner deductible is $500. If you can afford to raise it to $1,000 you can save as much as 25% in your premiums. Read the rest of this entry »
February 15th, 2009
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!)
February 14th, 2009
Richmond Area Golf Course Real Estate: Country Club Fees
The first of a multiple article series on Richmond area Golf Course Real Estate…Buying real estate on or near a golf course can be a very good investment and offer some great leisure perks. We live on a golf course and love it. As a golfer there is nothing better than slipping out for a few holes late in the day. Living on a golf course or in a golf course community can make coming home feel like coming home to a vacation at a resort. In addition to golf, there is tennis, swimming, work-out facilities, club dining options etc.
This comes at a cost however, country clubs are not cheap and they are a luxury. Joining a country club is lifestyle decision for sure. Most area private country clubs require an initiation fee to join and many involve a detailed membership application process. Just because you have the cash doesn’t guarantee membership. Most of the processes are pretty easy especially if you know someone who is a member, but a few require more work like letters of recommendation, interviews, etc. Read the rest of this entry »
February 12th, 2009
MILLER and RHOADS Alive Again!
What a refreshing news story in the Monday business section of the Richmond Times Dispatch! The story outlined the new hotel and condo project in the old MILLER & RHOADS Department Store building. Of late it seems like most stories of businesses, real estate, etc. are full of doom and gloom, but this story made me feel good. As a native Richmonder it was always a little sad to drive past the closed MILLER & RHOADS Department Store. Like many Richmonders the store took me back to my childhood with very fond memories of visiting Santa, having lunch in the Tea Room and experiencing “Downtown”. I am really looking forward to checking out the “New MILLER & RHODES”! Read the rest of this entry »
February 11th, 2009
Spotlight on Ginter Park
Last weekend my wife and I headed over to the Bellevue area of Ginter Park for dinner at TasteBuds on MacArthur Ave. Dinner was great and as we left we commented (as we always do when we venture to “Northside”) what a cool, hidden gem this area is. I couldn’t help but knock out a quick article about the area to let the cat out of the bag. Read the rest of this entry »
February 6th, 2009
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!
February 4th, 2009
$1,000,000+ Richmond Homes Sold!
What will $1,000,000 buy you in the Richmond area? Well in December five homes sold for more than $1,000,000 sold in the Richmond area. (Richmond, Chesterfield, Hanover, Henrico, Goochland, Powhatan) Here is what was reported sold in December by the Central Virginia Regional Multiple Listing Service for over $1,000,000:
- A 3BR/2.5BA, 3630 SQ FT Home on 97 acres in Goochland sold for $1,800,000!
- A 5BR/6.5BA, 6450 SQ FT Home on .77 acres in Chesterfield sold for $1,475,191!
- A 6BR/6.5BA, 9300 SQ FT Home on 3.1 acres in Chesterfield sold for $1,200,000!
- A 6BR/6.5BA, 7848 SQ FT Home on 5.03 acres in Goochland sold for $1,185,000!
- A 5BR/5.5BA, 6900 SQ FT Home in Powhatan County sold for $1,150,000! Read the rest of this entry »
February 2nd, 2009
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 »
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