Richmond Home Shopper

Existing Home Sales Surge

There were few major surprises in the economic news this week, and little change in the stock market. While there was a great deal of daily volatility, mortgage rates ended the week nearly unchanged.

A flood of housing market data was released during the week, and most of it reflected improvement in the sector. The biggest unexpected news came from the September Existing Home Sales report, which jumped 9% from August to the highest level since July 2007. Inventories of unsold existing homes dropped sharply to a 7.8-month supply from a 9.3-month supply in August. Read the rest of this entry »

Paint Can Help Sell Your Home Faster

The best dollar for dollar investment for selling your Richmond home fast is fresh paint.  Neutral colors are best as they will rarely clash with potential buyer’s furniture and accessories. Prospective buyers want move in ready homes especially in the current market and they don’t want to paint before moving in.  For a reasonable cost you can differentiate your house with a few coats of paint.

Next to fresh paint, new carpeting makes a huge difference.  Again stick with neutral colors and conservative textures to make your home attractive to the masses.  At Skye Bruce Properties this is simple advice we give our clients, but it goes a long way in selling their homes as fast as possible. 

Thinking of buying or selling a home in the Richmond area?  Contact Skye Bruce, the #1 RE/MAX Agent in Central Virginia. Like what you are reading?  Subscribe today to our BLOG!

Buying A Richmond Condo or Townhouse

The easiest way to understand the concept of a Richmond area condominium or townhouse ownership is to see it as an apartment you own. Your ownership extends inward from your interior walls, floors and ceilings. In addition, you are a partner, with all of the other owners in the complex, of the exterior structure (the foundation, exterior walls and roof) as well as any common areas and amenities (for example, swimming pools, clubhouses, tennis courts, play areas, etc.) Read the rest of this entry »

Richmond Parade of Homes Information

The 2009 Richmond Parade of Homes kicked off yesterday and runs through October 18th. You may tour 71 new homes throughout the Greater Richmond and Tri-City areas priced from $170,000 to over $1.5 million. The event is put on by the Home Builder Association of Richmond.  Here is a link to the Association’s helpful website which you can use as a tool for selecting homes to tour and planning your route.

If you are considering buying a new home in the Richmond area make sure you have Buyer representation in the process it can save you thousands!  Read the rest of this entry »

Why Richmond is a Great Place to Live!

Found this video on YOU TUBE.  The City of Richmond, Chamber of Commerce or any other area organization could spend a million and not come up with something as good as this.  An instant classic!  Looking for a home in the Richmond area?  Skye Bruce Properties has a team of professionals to help you with your search.  From the Fan to Southside, From Ginter Park to Short Pump, from Goochland to Varina; Skye Bruce Properties can find you a great home at a great price!  Contact Skye Bruce Properties today!

Richmond Area Short Sales

What is a short sale and should I consider buying one?

Short sales occur when someone owes more on their house than the house will currently sell for. The lender will consider it because it saves them the time and effort of a foreclosure. The foreclosure process can take a very long time and be very expensive for the lender.

An example would be a situation where the homeowner owes the mortgage company $250,000 on a house that is now worth only $200,000. The homeowner will be unable to sell their house because they do not have the $50,000 difference to make up to the lender. The lender can choose to accept a short sale on the property or they may choose to foreclose on the property. With so many properties currently in foreclosure the lender will more than likely entertain short sale offers. Read the rest of this entry »

A Richmond Homebuyer’s Experience

We love it when we here from our clients!  Below is a note we recently received from a couple we helped buy and sell a Richmond area home. A home purchase can be a complicated process, but at Skye Bruce Properties we try to make the process a fun and low stress experience!

Want to learn more about the home buying process? Check out our page on Understanding The Home Buying Process! Looking to buy or sell a home and want a low stress experience? Contact Skye Bruce Properties today!

Richmond Area Golf Course Living

Most area golfers dream of living on a Richmond area golf course or country club and being able to look down the fairway while sipping morning coffee. But you don’t have to be a golfer to enjoy the benefits of living on a course.

Having a home on a golf course gives you all of the benefits of living beside a park.  There are open spaces to enjoy, wildlife to watch, and an incredible amount of peace and tranquility. We live on a golf course and our biggest surprise was how quiet our backyard is since we don’t have backyard neighbors. A golf course home makes your property more relaxing and easier to enjoy.  A course also doesn’t have the downsides of a park- because it has controlled access, especially if its a private club. Read the rest of this entry »

Help Extend Homebuyer Tax Credit!

We would like to ask for your assistance on a timely issue that is critical to our national economy and its recovery, the expiration of the First-Time Homebuyer Tax Credit on November 30.

As most of you know, the First-Time Homebuyer Tax Credit has had a positive impact on our market this year. Over a third of all home sales have been to First-Time Homebuyers, and research shows that each home sold puts about $60,000 into the local economy. A great return on the government’s investment.

The Tax Credit has been beneficial and it needs to be extended. It would also be helpful to expand the credit to include all homebuyers. In normal times, we would not favor such government involvement, but these are not normal times. At Skye Bruce Properties, we feel strongly that such Tax Credits will not only help stabilize housing prices, but will help us from falling back into recession.

Many independent analysts favor such a Tax Credit. Mark Zandi, Chief Economist with Moody’s, says market conditions “remain extraordinarily fragile” and that “the risks of not doing something like this are too great.” Zandi also says that the benefit multiplier of a Tax Credit for all homebuyers is greater than most other credits for individuals and businesses.

For those of you who would like to have some influence on the process, I would encourage you to write to your Senator or Representative in Washington. Now is the time to take action, before the Tax Credit expires! Click here for a list of US Senators and Representatives from Virginia.

The recovery is NOT certain yet. Our market is still fragile. Foreclosures remain at record levels, unemployment is still rising and home prices are not rebounding. An extended and expanded Tax Credit would provide continued momentum and keep us on the road to a full recovery.

Thanks in advance for getting involved and making a difference!

You can make a difference. Contact your legislators, and please talk to your colleagues, clients and friends and do what you can to promote a Homebuyer Tax Credit.

Richmond Mortgage Market Update

It is worth remembering that the average 30-year mortgage fixed-interest rate measured 6.12% a year ago, and that the markets were reacting to multiple financial crises.By way of contrast, this past week was a quiet one. The average 30-year mortgage rate, according to HSH Associates, eased two basis points over the course of the week to 5.54%. In a more anxious market, it is possible that the mortgage rate markets could have reacted to such things as gold’s successful run at $1,000 an ounce—the metal ended the week at $1,005.20—but rates stood firm. Read the rest of this entry »