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home values: Buying a Home NOW - Some Validation from USA Today - 09/14/09 09:08 AM
I feel a teensy bit validated, now that USA Today is featuring an article on the two reasons to buy a home NOW - the historically low interest rates AND the first time home buyer tax credit.  Of course, this "buy a home NOW!" advice only applies to people who have stable jobs, consistent income, some money to put down, and were planning to buy a home in the foreseeable future anyway. 
As always, if you need an agent in Richmond, Virginia, I am happy to help with the home buying process.  Otherwise, best of luck in your hunt for the perfect home!
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home values: 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)

home values: How Accurate Are Zillow's Zestimates? - 08/14/09 11:05 AM
It just so happens I wrote a bit yesterday about a Zillow poll that ranked Richmond, Virginia as the 7th best place in the United States to buy a home.  And in that post, I alluded to the fact that I typically disdain Zillow data because I have found it to be ridiculously inaccurate in certain sub-markets, and especially with historic properties.  Here's a blog post I wrote on the topic back in March 2009, "The Zillow Rant OR Why Zillow Zucks."
Well, d*mned if an e-mail from Zillow didn't turn up in my e-mail inbox today.  The e-mail header is "How Accurate … (9 comments)

home values: Is the Recession Slowing? Good News for Richmond, Virginia - 06/17/09 10:54 AM
Here are two articles which suggest that a slow, steady economic recovery may be in the not-too-distant future for Richmond.  For the ultimate impact of the recession, one article puts Richmond in the middle of the Top 100 largest metropolitan areas in the United States.  That means the recession has been milder here compared to about 50% of the other major metropolitan areas in the United States.  For example, with respect to a decline in home prices year-over-year, the Greater Richmond Metropolitan area, which will include the surrounding counties, has seen only a 2.2% drop in 1Q 2009 compared to 1Q 2008.  All … (3 comments)

 

Melissa Loughridge Savenko

Richmond, VA

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RE/MAX Commonwealth

Address: 509-511 N. Meadow Street, Richmond, VA, 23220

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