David Bruce

March 31st, 2010

Invest Your Tax Refund into Your Richmond Home: $1,000 Projects

Consider these five great projects that cost around $1,000 if you decide to invest a tax refund in your home this year.

Getting money back from the IRS is a silver lining to paying taxes, but why invest a tax refund in your home instead of, say, a weekend getaway? Because your home is probably your biggest asset, so it pays to take care of it–literally. Even modest investments such as a new washing machine or exterior door can yield surprisingly big returns.

The average tax refund changes from year to year, but lately it’s totaled around $2,500. That’s a tidy windfall. Not everyone is so lucky, of course, but even if you only get back half that amount, there are many great ways to invest a tax refund in your home. Consider these five projects that cost around $1,000. Read the rest of this entry »

March 29th, 2010

Real Estate Negotiation in Richmond

Working with clients in Real Estate transactions, we see a variety of negotiation styles and strategies.  Usually you can categorize them one of two ways.  A cooperative approach or a combative approach. Which approach is more effective?

Our experience in the Richmond area shows that the cooperative style is the most effective and efficient way to complete a real estate transaction. Professional negotiators usually try to preserve the relationship between the parties, and work together to resolve problems. The goal is not to draw a line in the sand and reach an impasse, it’s to get you the home you want at the best possible price. Buyers sometimes through their REALTOR position an offer to the seller describing why their house is not worth what they are asking, pointing out deficiencies, etc. This can backfire, and start the negotiation off with a defensive seller. It is best to anchor your price to the Richmond marketplace, while remaining very complimentary of their home in the communication your REALTOR has on your behalf. Read the rest of this entry »

March 23rd, 2010

10 Kitchen and Bath Trends to Help Sell Your Richmond Home!

(ARA) – Does your kitchen or bathroom look like it’s stuck in a time warp? Not good if you’re getting ready to sell your Richmond area home. The old saying is Location, Location, Location in real estate, maybe today it should be Location, Kitchens and Baths! Kitchens and Baths sell homes. These rooms are the most-used rooms in your home and homebuyers look long andhard at these rooms when buying. If you are putting your home on the market and your kitchen and baths are dated, it might be time to update.  Read the rest of this entry »

March 15th, 2010

Skye Bruce Properties Expands with New Brokerage and New Offices

For Immediate Release:

Skye Bruce Properties Expands with New Brokerage and New Offices

Richmond/Glen Allen, VA — March 15, 2010 — Skye Bruce Properties, a dominant residential real estate force in the Glen Allen/Short Pump area of Richmond, today announced its expansion with a new brokerage and new offices.  Their offices are now located on the corner of Nuckols Road and Wyndham Lake Drive.  The new office opened on March 1^st and will be a state of the art, full service, residential real estate brokerage including a Home Selling Team, a Home Buying Team, a Mortgage Team, Title Company and an interactive real estate Sales Center for clients. Read the rest of this entry »

March 10th, 2010

Advice for First Time Richmond Homebuyers

During the height of the Richmond real estate market a few years ago, many first-time buyers were frustrated by high prices and the short supply of affordable homes for sale.  Prices have come down substantially in Central Virginia, there’s plenty of inventory, interest rates are historically low and the federal government’s $8,000 tax credit for first-time home buyers was extended to April 30 2010.

Even with the drastic change in the market, it’s not always easy for first-timers. Once-liberal lending standards are much tougher and lower priced homes in good locations are selling. There are still great homes available in Richmond and we are currently in a unique window where both prices and interest rates are low. If you’re in good shape financially, with a positive credit score, this is an ideal time for a first-timer to buy in Central Virginia.

Here are important factors first-time buyers should consider: Read the rest of this entry »

March 2nd, 2010

New Listing in Kings Charter! $289,000

Absolutely immaculate 4 bedroom, 2,5 bath home in the Manorwood Neighborhood in the planned community of Kings Charter in Hanover County. This home features hardwood floors on the entire 1st floor, spacious rooms, Kitchen with granite counters, large Master with vaulted ceiling and walk in closet, Master Bath with vaulted ceiling, tile floor, glass enclosed shower & garden tub, hall bath with tile, deck, stone patio and wooded backyard with great privacy. Additional upgrades include 2″ blinds, upgraded Carrier Puron HVAC, professionally landscaped yard with landscape lighting, new interior paint, new carpet, irrigation system and Chickahominy/Atlee schools.  Over 2000 square feet! (2048) Contact us today to tour this great home!

Exclusively offered by Skye Bruce Properties, 12000-B Wyndham Lake Drive, Glen Allen VA 23059.

March 1st, 2010

Staging Your Richmond Home To Sell

If you are trying to sell your Richmond area home, staging your home can make all the difference. You always hear about LOCATION in real estate, but no matter where your house is located in Richmond, if it’s messy, cluttered or over furnished it can hurt your chances of selling. Staging is a critical part of selling a home. Furniture that makes the home look spacious and comfortable can make the difference when selling. A room crammed with furniture can make even a large room look small and cramped.

Skye Bruce Properties has an Accredited Home Staging Specialist on staff to help our clients stage their homes correctly from the start of the home selling process.  “In today’s buyer’s market, a home staged correctly can give you an edge over other homes on the market” says Skye Bruce.   “First impressions are so important in today’s real estate environment and many times a few simple changes can make a big difference. We have even invested in an inventory of stylish staging items to give homes a special look from the start.” added Skye.

Thinking of putting your home on the market? Contact Skye Bruce Properties with questions about home staging and the home selling process!

Skye Bruce Properties, 12000-B Wyndham Lake Dr., Glen Allen, VA 23059, 804-539-8571

February 1st, 2010

Six Surprising Facts About the Homebuyer Tax Credit

The homebuyer tax credit is not as simple or straightforward as you might think. Here are some nuances that will affect homebuyers who plan to use it.

1. To qualify for the move-up tax credit, a homeowner must have occupied the same principal residence for five of the last eight years consecutively.
2. Buyers can elect to claim the credit on either their 2009 or their 2010 tax return, whichever is best for them.
3. Buyers who claim the credit in 2009 can’t file electronically because the Internal Revenue Service hasn’t put the required forms online. The wait for a refund is three or four months.
4. The home can be a mobile home or travel trailer that is fixed to land owned or leased by the home owner. A mobile home or travel trailer that is actually mobile doesn’t qualify.
5. The home can’t be purchased from a close relative, including a parent, spouse, child, grandparent or grandchild.
6. A buyer who earns no taxable income or doesn’t owe any federal income tax can qualify for the tax credit and file a tax return just to claim it.

Source: Bankrate.com, Marcie Geffner (01/21/2010)

Skye Bruce Properties has a team of mortgage and home buying experts to answer your questions about the Homebuyer Tax Credit.  Contact Skye Bruce Properties  today!

January 29th, 2010

2010 Richmond Real Estate Outlook

Great summary and outlook for the 2010 local real estate market by Lisa A. Sturtevant, PhD and John McClain, AICP from the George Mason University Center for Regional Analysis. For more detailed information and data on the Richmond real estate market contact Skye Bruce Properties.

While there are some positive signs for the Central Virginia Area housing market going into 2010, there are other factors that recommend caution. Sales and pending sales are both higher at the end of 2009 compared with the end of 2008. In the first half of 2010, it is expected that sales activity will continue to increase. The Federal home buyer tax credit program has been expanded to include both first time and move up homebuyers. The program requires buyers to sign a contract by the end of April, with closing by the end of June. Many potential homebuyers who want to buy in 2010 may accelerate their decision to the early part of the year. As a result,sales might slow down in the second half of 2010. Read the rest of this entry »

January 26th, 2010

Final 2009 Richmond Real Estate Report

2009 was a real mixed bag in the Richmond area real estate market.  While the number of homes sold in the area in 2008 and 2009 were about the same the market continued to get stronger as the year went on. There was continued price degradation throughout the Richmond region and it’s questionable if the market has bottomed out with regards to pricing.

Here are the highlights from the Central Virginia Multiple Listing Service:

2009 Central Virginia Home Sales Activity

In 2009, there were 11,162 existing homes sold in the Central Virginia region, which was virtually unchanged from 2008. In the 4th quarter of 2009, there were nearly 3,000 homes sold, an increase in sales of 29% over the 4th quarter of 2008.

In the Richmond Metro Area, there were 2,392 home sales, up 38% over the 4th quarter of 2008.

In the Tri Cities Area, there were 242 home sales in the 4th quarter of 2009, an increase of 17% over the 4th quarter of 2008.

In the 4th quarter of 2009, there were 2,466 pending sales in the CVR MLS, an increase of 17% over 4th quarter 2008 sales. Many of these pending sales will translate into closed sales in early 2010. Read the rest of this entry »