insydehomes: Home Trends; Quality over Quantity:
- 08/27/10 10:06 AM
As the nation continues to recover from the effects of a troubled economy, home sizes have trended downward for the first time in three decades. More Americans seem to have also adopted a longer-term perspective, as homes that are smaller in scale are generally more affordable to maintain over time and have less impact on the environment. However, they are not necessarily less expensive to purchase. Many are situated in prime locations and include more high-end features. Findings of the American Institute of Architects (AIA) Home Design Trends Survey suggests that home buyers as well as renovating homeowners are choosing more … (0 comments)
insydehomes: Is there Sustainable Growth in Real Estate?
- 05/12/10 04:07 AM
According to investment experts like Warren Buffett and Bruce Norris, as well as many real estate educators and market economists, and even the assistant secretary of the U.S. Department of Housing and Urban Development, David Stevens, there is perceived sustainable growth in the housing market. The key to all if this of course is security in the job market leading to greater consumer confidence, as well as consistently stable, and remaining relatively low, interest rates. I can't honestly imagine it's all that simple, but after observing first quarter sales increases in Richmond, one begins to wonder if the tide in real … (1 comments)
insydehomes: How Do Teams in real Estate Work?
- 03/17/10 04:12 AM
I love my wife Ann, who is also my business partner; she does all the honest-to-goodness work while I write articles about real estate or the housing market and purport to be an "expert" at something. She is decently civil about the whole thing too, and complements me by saying how we each contribute different things to the job, which is after all why we work so well together. I have decided to politely agree with her on this point. I am blessed because I know that, while there are a number of successful husband/wife teams in real estate, there are … (2 comments)
insydehomes: Activity in Richmond Real Estate - Forecast "Snow"
- 01/30/10 01:09 AM
It's snowing! An appropriate end to the week; we should have winter precipitation once in a while in Richmond to remind us of the change in seasons. And on a Saturday when there is no real pressure to go anywhere, we can attempt to enjoy it a little too. There is also the comfort of knowing it won't hang around long as temperatures rise next week - The business of real estate sales will not be put off for long. I continue to be encouraged by the increase in real estate activity. The news in general is cautious but good. The … (2 comments)
insydehomes: More Change in Richmond Real Estate
- 01/15/10 09:16 AM
The second week of the New Year in Richmond, Virginia shows continuing signs of housing market improvements. In general, activity is increasing; calls and appointments are picking up and there better than usual contract activity. Is this a temporary condition, a last ditch effort to take advantage of government incentives, or is this the precursor of a healthy spring market? Time will tell us, but I am much encouraged by the signs that indicate the number of listings and sales is starting to increase. Especially sales! There is evidence by the number of contracts we are getting in our office that … (0 comments)
insydehomes: Is the Government Tax Credit Really Going to Expire?
- 10/29/09 07:10 AM
WHO KNOWS! At this point reports regarding extending the government tax credit seem to be changing by the hour. On Monday reports stated it would under no circumstances be extended; by Thursday the media was a-buzz with a potential compromise that will extend the timeframe. The on-again/off-again tax credit extension includes numerous revisions of what may be included if it survives the current November 30th deadline. By the time you read this, it may have changed yet again! Regardless of the pending tax credit compromise, market indicators point to the probability that home sales will continue to improve in our area … (0 comments)
insydehomes: What Should I do to FInd My Next Home?
- 10/23/09 04:40 AM
Did you know that approximately 85% of people looking for homes use a REALTOR®? In spite of the fact that the majority of home buyers start their search on the internet, they still choose to work with a real estate professional once they are committed to a serious home search. Realtors don't control housing information the way they did twenty years ago, before MLS and computer based systems began sharing information freely across cyber space. What they do provide is an in-depth knowledge of homes and property values that only comes from daily interaction with other professionals, buyers and sellers. This … (2 comments)
insydehomes: When is the best time to buy or sell real estate in Richmond?
- 08/11/09 06:44 AM
Statistics show that the spring months tend to be the best time to buy or sell a home in Richmond. After being cooped up all winter we are ready for change with the arrival of warm weather and fresh foliage. We are fortunate in Richmond to have a robust fall market as well. Once again, due in part to our mild temperatures, the fall offers opportunities to collect ourselves as we prepare to settle down for the winter, and this attitude is reflected in property sales. In contrast, August is the slowest month for home sales just ahead of December. One … (0 comments)
insydehomes: Where Do You Get Your Housing News?
- 07/28/09 08:20 AM
In Richmond, Virginia, should we believe the news recently reporting that the real estate market is finally turning the corner? Notice I didn't say "improving". Nevertheless, media reports have been more forthcoming with increased frequency about where the housing market is these days, and that perhaps we hit bottom back in December. I'm also getting reports from other parts of the country claiming more positive housing trends. So why do we need the media to tell us that things are getting better? I've spent the last six months evaluating the market in order to better counsel my buyers and sellers. I've … (0 comments)
insydehomes: Should I buy at the top of my price range?
- 07/10/09 07:24 AM
I knew a man who would advise buying as much home as you can possibly afford. His philosophy being, I believe, that you will grow into your investment. In other words, it will never be more affordable than it is today. Furthermore, as you succeed in life its affordability will continue to improve. The recent economy and seemingly uncertain housing market may have some people questioning this advice. But this suggestion was given at a time when most buyers were looking to stay in their home for at least five to seven years. With this stipulation in mind I believe it … (0 comments)
insydehomes: A Short Sale Tale – What a Shame
- 06/08/09 10:00 AM
Short sales and foreclosures are not all they are cracked up to be, especially if the agent on the listing side claims to know more than they actually do. Please don't report to be the expert with a vast amount of knowledge and experience in these matters if you're not. Faking it only makes the situation worse, and we may end up loosing the opportunity to help both purchaser and seller meet their needs. It doesn't take long to realize someone is blowing smoke up your shorts if when you call they give you a different story each time. It either … (5 comments)
insydehomes: New Home Sales vs. the Resale Homes Market
- 06/08/09 08:35 AM
I sit at a new homes development site a few days a week, rotating with two other agents in my office. We split everything that comes through the door, so we still enjoy the flexibility of maintaining our individual resale businesses. This set up is not typical for a new home development, but it works well for our group. Rarely does the job fall to just one person without the others coming to the rescue. Nevertheless, being a site agent isn't for everyone, especially in a declining market. The New Home Sales Market is a lot like working in a corporate … (2 comments)
insydehomes: Is the Weekend the Only Time We can Look for Homes?
- 06/08/09 07:09 AM
My business partner Ann recently came across this question while holding open a house for sale here in Richmond, Virginia. It came from a first-time home buyer that was using the internet and news papers to look for a new home. The innocence of the question brought a smile to my face, but then I know about fifty percent of the people out there are searching for homes without the benefit of using a REALTOR®. They are not finding the properties they want, or previewing them early when they are fresh on the market, or during those times when it's most … (0 comments)
insydehomes: The Perfect Day for Not Working Real Estate!
- 06/05/09 10:00 AM
I'm watching Baseball - the little guys - instead of working real estate during what is usually my most productive time of day. My ten-year-old has a late game on a Monday afternoon at Byrd Park Little League in Richmond, Virginia. The weather is perfect; there's no humidity, a gentle breeze, plenty of soft sunshine, and the smell of fresh cut grass is in the air. It is a delightful spring afternoon on the cusp of summer. The pool is open, and school is just letting out for the year. We only have one of two more games before it ends … (0 comments)
insydehomes: Is There No Winning in Today’s Housing Market?
- 06/01/09 08:08 AM
There is no question it's a buyer's market in some rather uncertain times. Sellers still appear unrealistic about price and condition, and purchasers feel no sense of urgency to make a decision - and both sides are unhappy about it. This must be the reason why people feel like there is no winning in today's housing market. What's truly surprising to me is that when making important decisions about their homes folks often don't use the data provided by us as professional Realtors. They want our opinion, our experience our knowledge, but when the facts are delivered they would rather take … (0 comments)
As the nation continues to recover from the effects of a troubled economy, home sizes have trended downward for the first time in three decades. More Americans seem to have also adopted a longer-term perspective, as homes that are smaller in scale are generally more affordable to maintain over time and have less impact on the environment. However, they are not necessarily less expensive to purchase. Many are situated in prime locations and include more high-end features.
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