David Bruce

October 1st, 2009

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!

October 1st, 2009

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 »

September 29th, 2009

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!

Catena Armstrong with Skye Bruce Properties was wonderful to work with. Her vast experience and inviting personality make her an excellent REALTOR and an easy, comfortable fit for us. Looking back sometimes it seemed as if she knew what we were looking for more than we did. It was obvious that she wanted us to find the perfect fit and would look with us as long as it took. She arranged last minute showings, drove out to look at houses in the middle of nowhere, entertained our son so we could look around, showed up early at appointments to check out the houses in advance. We learned a lot from Catena about the types of questions to ask, things to consider long-term that we would not have thought of otherwise, and how to write a solid contract. We valued her perspective and input. We are now in our new home and loving every minute of it. I will think of Catena every time I walk across my welcome mat. BILL & KELLIE L.

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!

September 25th, 2009

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 »

September 23rd, 2009

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.

September 21st, 2009

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 »

September 18th, 2009

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.

www.SkyeBruce.com

September 17th, 2009

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 »

September 11th, 2009

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!

September 8th, 2009

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!

Hello Skye, I just wanted to write a couple lines and thank Laura Williams and the Skye Bruce Properties family. My husband and I were first time home buyers and quite frankly afraid to buy for many years. We’ve often heard horror stories of friends having to write their own offer letters, missed appointments and nightmare encounters leading up to and during closing. Laura was right there for us every step of the way explaining why, when, and how each task is completed. Laura made buying our home a WONDERFUL experience and we can’t thank her enough. We are extremely happy home owners and recommend Laura and the Skye Bruce Team every chance we get!    John and Nichole

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!