Richmond Virginia Homes For Sale
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Experts See Housing Bottom by 2010!
Reuters polled 41 economists on housing and found….
13 economists said the market bottom has already been reached; 27 said the bottom would be hit within a year. Just one said it would take up to two years.
The closely watched Standard & Poor’s/Case-Shiller 20 city-index will drop by 14 percent this year before climbing 2 percent next year, based on the median forecast.
House prices will fall before stabilizing to 33 percent from the peak in mid-2006, based on the median forecast.
29 of 39 economists said a housing price rebound is not needed to end to the economic slide.
When asked to rate average home prices on a scale of 1 to 10, with 1 being extremely undervalued and 10 being extremely overvalued, the median forecast was 4. In prior Reuters housing polls, prices were deemed slightly overvalued with a 6 reading.
Read complete Reuters article here!
Contact Skye Bruce Properties for the latest market data for Richmond, Virginia real estate.
Richmond Real Estate Investment 101
It could be a good time to invest in Richmond real estate or other area markets, given the amount of foreclosures and other distressed properties with reduced prices. It could also be a bad time to invest in real estate, if you don’t know what you are doing. That is the key. It’s a good time to invest, but it is difficult.
Now when you go out to invest you are competing with plenty of other offers. The investors are back. Just like buying a home to live in, taking the real estate investment plunge requires taking stock of your financial goals, planning and lifestyle before taking the plunge. Pretty much like buying any property. If you’ve got the time, the money and the lifestyle that lends itself to managing a real estate investment, you are just about half way there. However, both halves are pretty big halves. The National Real Estate Investors Association says you’ve still got a lot of work to do. Here’s how much…. Read the rest of this entry »
Weekend House Hunting In Richmond
Weekend house hunting is a great way to explore the Richmond area and find that perfect home. Get up on a Saturday or Sunday, grab a paper, head to a neighborhood cafe for a cup of joe and plan your house hunting adventure. But wait a minute, there aren’t many houses listed in the paper anymore. No worries! Skye Bruce’s RichmondHomeShopper.com can help you with a list of homes on the market to check out, plus plenty of great tips and tools throughout our BLOG and website.
Know what you want, but not sure how to find it? That’s normal. Using our search tool above request information about homes on the market which meet your criteria and plan your Richmond area home tour. Find homes by ZIP, area, neighborhood, size, price, school etc. and line up a fun afternoon by checking out multiple homes. Checking out homes on a Saturday or Sunday also give you a great feel for the neighborhood as families are usually outside and about enjoying activities.
If you see that perfect house and want to get inside, we can help. Our Buyer Specialists at Skye Bruce Properties can give you a tour of any home in the Richmond area. Contact Skye Bruce Properties anytime you want to schedule a tour! Happy House Hunting this weekend!
First Time Homebuyer Experience
We love it when we here from our clients! Below is a note we recently received from a couple we helped buy their first 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 First Time Homebuyer Headquarters! Looking to buy your first home and want a low stress experience? Contact Skye Bruce Properties today!
Neighborhood Profile: Wyndham Forest
Wyndham Forest is a community of approximately 376 single family homes located in Western Henrico County north of Nuckols Road between Cauthorne and Shady Grove Roads. The Chickahominy River and an environmental protected area lie behind portions of the neighborhood ensuring no additional development in those areas. This HHHunt community was built in the late 1990’s to early 2000’s and is divided into three areas-Wyndham Forest consisting of 216 homes, Chappell Ridge consisting of 122 homes, and Rivers Edge consisting of 38 homes. Read the rest of this entry »
Recovery Signs in Housing Market Stir Some Hope
New York Times Article….
Recovery Signs in Housing Market Stir Some Hope
DAVID STREITFELD, NEW YORK TIMES- After a plunge lasting three years, houses have finally become cheap enough to lure buyers. That, in turn, is stabilizing prices, generating hope that the real estate market is beginning to recover.
Eight cities, including Chicago, Cleveland, Denver and San Francisco, showed price increases in May, up from four in April and one in March, according to data released Tuesday. Two other cities, Charlotte, N.C., and New York, were flat. Read the rest of this entry »
Home Inspection Tips for Homebuyers
You have made an offer on a Richmond area home and it has been accepted. Congratulations!!! Included in your offer was a provision for a home inspection. Smart!!! Here are some tips for that all important home inspection.
Make sure that there will be proper access to the home and that all areas can be viewed and inspected. Make sure that all of the utilities have been turned on including water, electric, gas and oil supplies if there is oil fired equipment in the home. There have been many times recently that I did not have complete access to the home. Have the sellers remove storage away from foundation walls and garage walls so that they can be inspected. If the home inspector can not view the area he or she must indicate that in the report and that becomes an area of open risk because its not visible. Read the rest of this entry »
The Cows Are Happy In Varina!
Cows and Crops win out over Homes in Eastern Henrico County.
Looks like dense suburban development won’t be coming to Varina in Eastern Henrico County. Supervisors unanimously voted yesterday to adopt the 2026 Comprehensive Plan, with amendments to ease concerns of Varina area residents who want to keep their part of Henrico County rural.
Varina Farm, a very attractive tract of land along the James River at the i-295 bridge will remain a farm instead of a Suburban Mixed Use development, according to the final version of the plan. Henrico County will also retain separate, distinct designations for rural residential and prime agricultural land.
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Richmond Real Estate Negotiation 101
Real Estate is one of the few places in American life where some form of negotiation is the rule rather than the exception. Just because it is the norm does not mean that most people are good at it. Many people feel that they are the best negotiators in the world, but in reality, it is a learned art. It takes a keen understanding of the process in order to be a good negotiator.
When it comes to Real Estate matters, the 3 most important aspects of an effective negotiation are:
1) Information 2) Preparation 3) Realism
Recognizing that being a good negotiator does not come naturally to most people is the first step in becoming one! Read the rest of this entry »
More Tax Breaks in 2009 and Beyond
Homeownership and green improvements will be more affordable for more Americans in 2009, thanks to several provisions in the American Recovery and Reinvestment Act. The changes will put more money in taxpayers’ pockets and allow homeowners to save thousands of dollars over the next several years.
The First-time Homebuyer Credit has been extended and increased to qualifying individuals who purchase a home in 2009 before Dec. 1. First-time homebuyers are defined as those who have never owned a principal residence or who have not owned a principal residence at any time during the three years prior to the date of purchase.
For 2008 and 2009 tax returns, the credit is equal to 10 percent of the home purchase price, up to $8,000. It phases out when modified adjusted gross income is $75,000 for an individual or $150,000 for joint filers. Married taxpayers must both qualify as “first-time homebuyers” in order to receive the full credit. Read the rest of this entry »
