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city of richmond neighborhoods: New FHA Financing Rules for Condominiums - Thank Goodness! - 11/12/09 09:53 AM
On November 6, 2009, the Department of Housing and Urban Development issued new guidance relaxing the financing requirements for condominiums. For condominium developers, listing agents for condominium projects, and condominium buyers, this is GREAT news. Basically, an individual buyer may now get FHA financing in a project that qualifies. What's so great about FHA financing? It allows the least amount of money down (3.5%), has lower credit score requirements, and allows a "non-owner occupant co-borrower," which is fancy HUD-speak for a cosigner on the loan.
So what does this mean practically? Someone starting out could buy a $200,000 property with $7,000 … (1 comments)
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city of richmond neighborhoods: Windsor Court Condominiums - Great Condos in the Heart of Richmond's Historic Fan District! - 09/14/09 09:20 AM
Well, it's that time again. Sunday morning, and I'm gearing up for the stand-by Sunday Open House. This Sunday - and every Sunday except holidays - I'm holding open the Windsor Court Condominiums, located smack-dab in the middle of the Historic Fan District. Here are some quick facts about the project:
The actual address is 1608-1614 Grove Avenue, in between Vine and Lombardy. There are 24 total units located in three different buildings set back around a GORGEOUS central courtyard - two "wing" buildings, 1608 Grove and 1614 Grove, and the "main building at 1610 Grove. Each unit has a minimum of 2 … (0 comments)
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city of richmond neighborhoods: Walkability = Higher Home Values - 09/14/09 09:04 AM
Here is a really interesting article from MSN Real Estate, reporting on a study that finds a higher "walkability" index translates into higher home values in 13 out of 15 metropolitan areas. The data supports what we real estate agent who represent certain City of Richmond neighborhoods have known, without being able to quantify - walkable urban neighborhoods are more and more desirable, and therefore more and more valuable.
The two exceptions to the rule: Bakersfield, California, which showed no correlation between walkability and higher property values, and Las Vegas, Nevada, which showed a NEGATIVE correlation between walkability and property values.
Really? Being within walking … (0 comments)
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city of richmond neighborhoods: Back to Real Life....And a Real Schedule...And a Better Market? - 08/14/09 10:48 AM
Man, it sure is hard coming back from vacation! I spent last week in picturesque Bath County at Nimrod Hall, one of my favorite places in the world. I was pretty much unplugged - limited phone, limited e-mail, limited computer access. I have to say, it was heaven.
BUT....I have to get back to real life, and jump back into work. At least until my rich uncle gets out of the poorhouse. Or I win the $139M lottery. Or I marry an heir to some little-known European principality. Sigh. A girl can dream, right?
While I was gone my business partner did … (2 comments)
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city of richmond neighborhoods: Richmond's Urban Neighborhoods and Crime Statistics - What Is the "Truth?" - 07/10/09 04:37 PM
I know the article naming Church Hill as the 10th Most Dangerous Neighborhood in the U.S. has caused an uproar, especially among people who live there and love it. And one commenter has noted that she feels much safer in her Church Hill neighborhood than she does in the Fan or Museum District. So it got me to thinking....
What is the truth about crime statistics in Richmond's urban neighborhoods? Is Church Hill safer than the Fan? Was the article naming Church Hill the 10th Most Dangerous Neighborhood in America unfair and based on inaccurate information?
NOTE: In the interest of full disclosure, … (1 comments)
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city of richmond neighborhoods: New Listing - 2113 Floyd Avenue - Richmond's Historic Fan District - 03/26/09 08:04 AM
I have a new listing (with the able assistance of my co-listing agent, Pat Petersen Robnett, of course!) at 2113 Floyd Avenue, and it's a great starter house in the Fan. I've pulled together a photo album here, so please pop in and take a look. I cannot figure out for the LIFE of me how to order the pictures in the order I would prefer, which would take you through the main floor of the house, front to back, then through the second floor of the house, front to back, and then out to the rear yard. So the order … (0 comments)
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city of richmond neighborhoods: Windsor Court Condominiums in Richmond's Historic Fan District - Coming January 2009 - 12/17/08 03:48 PM
Well, I am VERY excited. A listing of mine, a 24-unit condominium project in the Historic Fan District, the Windsor Court Condominiums, is coming together and coming on the market January 3, 2009. This is the culmination of over a year of work by real estate agents, the real estate developer, the general contractor, the lender, the stager - you name it, there are lots of people involved.
I know most people would say it's a terrible time to be selling condominiums, but I'm convinced this project is DIFFERENT. There is a glut of condominiums on the market, but those other … (0 comments)
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city of richmond neighborhoods: For Sale - Richmond's Historic Fan District - 1416 Grove Avenue - 10/13/08 09:22 AM
Welcome to 1416 Grove Avenue! This gorgeous home has four (4) bedrooms and three and one half (3.5) baths on three levels. The first floor features double parlors with grand columns and unusual glass lighted pocket doors, a spacious dining room with beautiful fireplace, an original built-in step back cabinet in the hall to the kitchen, a first floor powder room, a separate laundry room, and a charming kitchen with copper paneled ceiling, copper counters and knotty pine walls. On the second floor is a grand master suite with bath and cedar-lined walk in closet. There is an additional guest … (0 comments)
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Melissa Loughridge Savenko
Richmond,
VA
More about me…
RE/MAX Commonwealth
Address: 509-511 N. Meadow Street, Richmond, VA, 23220
Office Phone: (804) 353-4455
Cell Phone: (804) 986-3993
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