Richmond, VA Real Estate News

By Pat Paca
(Joyner Fine Properties)
Sellers can woo buyers with just a little sprucing. The real estate market in Richmond is favoring the buyer; so what can a seller do to attract a buyer to their listing? Spruce it up! First impressions are very important, so start with your front yard.  In real estate terms this is called: Curb Appeal. Let's start with the curb. If your home has a curb, stencil your house number on it.  If it is already stenciled, make sure the numbers can be read easily. It only takes a few minutes to repaint them. The benefits to this small and often missed project are that it will put the "final" touch to your curb appeal project; in addition it makes the home easier to find. You don't want your buyer's first impression to be that the house was difficult to find. Now, let's look at the front yard. F...
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By Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
(RE/MAX Commonwealth)
Monthly Activity Report: 5 -2008 146 homes and 22 Condo/Townhouse  have sold during the month of April with average price $253,782 for single family home, $239,613 for Condo/Townhouse. The average sale price of these homes were 4% less than asking price.  On average, these homes took 59 days to sell.This data was provided from the Richmondarea MLS. Property Type: Single Family Area New Avg LP Under Contract Avg LP Sold Avg SP %SP/LP Avg DOM 10 165 $354,877 69 $298,843 44 $264,824 96.52% 64 20 79 $415,076 41 $496,536 22 $522,608 96.32% 48 30 96 $200,561 31 $194,346 22 $163,613 93.83% 61 50 85 $114,038 34 $107,075 21 $88,212 95.45% 59 60 119 $253,670 54 $256,447 37 $229,657 96.47% 64   544 $267,644                    229 $270,649 146 $253,782 95.72%           59   Property Type: Condo/To...
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By Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
(RE/MAX Commonwealth)
This is the market report for zip code 23294. My report will give you a much more realistic picture of the market in the area closest to your home. Currently, there are   69 Single Family Homes For Sale.                              21 Single Family Homes under contract. The sales figures in this report are for the month February 2008, This data was provided from the Richmond area MLS. Homes sold         Average List Price         Average Sales Price        List Price/Sales Price         Days on market 7 Homes                 $196,542                         $192,380                               %97.88                              35 Days   For additional local real estate information, information about me and my services, to request home listings by E-Mail, to request a market analysi...
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By Pat Paca
(Joyner Fine Properties)
The  City of Richmond keeps rising and rising in quality of life, as demonstrated in many of Richmond's "The Future Is Now" projects. The City of Richmond is also rising in the national economic sector  as one of the best places to do business. Did you know that Forbes magazine has named the City of Richmond as the 7th best city for business and careers in the nation? This is a big jump into the future for Richmond which ranked as #14 on the same list just a year ago. By the way, The City of Richmond as been included in the top 15 cities on the Forbes list four times in the last five years. Forbes determines the cities by comparing 200 of the largest metro areas.  The criteria used by Forbes is: business costs, job and income growth, education levels, the number of four-year college and...
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By Pat Paca
(Joyner Fine Properties)
Although you have been hearing about the 14% decline in home prices nationwide being reported by the media recently, that is not the case in the Richmond area.  Actually, it is not the case in most areas of the country. A recent House Price Index Report by OFHEO (Federal Housing Enterprise Oversight) shows that the majority of the nation is experiencing steady and increasing home values.   The real estate market here in Richmond is very local. Market conditions change from neighborhood to neighborhood but generally speaking, we are experiencing a buyers market due to sluggish sales volume.   Due to the lack of buyers, some areas are holding steady while others are trending downward slightly.  Sellers are more willing to make concessions to buyers in the way of closing costs, etc. The ma...
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By Stephen Smith, Associate Broker
(RE/MAX Action Real Estate)
6725 Kensington.  Open this Sunday 6/8/2008 from 1-4.  Bring your clients mine are motivated.  This is a great house with off street parking in the 1.5 car garage.  There is so much storage that the current owners have converted their tool house into a party room.  You have to see the charm that this space has and will be a welcomed bonus to your buyers.  I will be there this Sunday from 1-4 so send your buyers.  They will be completely protected  so send them to check out this great cape.
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By Pat Paca
(Joyner Fine Properties)
Why so many questions?  As a Realtor®, I need to know you. If you live in the Richmond, Virginia area, you most likely have decided on which towns and neighborhoods you are most interested in, the type of home you want, and the price range that works best for you. If you are relocating to the Richmond area, you may not know the individual neighborhoods but you have done some research via the Internet which has given you an idea of home values, Richmond schools, commute times and other data. (Relocation Information) Before the days of the Internet, buyers were not quite as savvy as the buyers of today. In those days, Realtors® needed to ask questions just to know how many bedrooms and baths a buyer needed in the home they wanted to purchase.  Today, buyers are able to access the MLS and...
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By Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
(RE/MAX Commonwealth)
This is the market report for zip code 23238. The report will give you a more realistic picture of the market in the area closest to your home. Currently, there are   139 Single Family Homes For Sale.                                          46 Single Family Homes under contract. The sales figures in this report are for the month February 2008, This data was provided from the Richmond area MLS. Homes sold         Average List Price         Average Sales Price        List Price/Sales Price         Days on market 17 Homes                $364,764                          $357,232                               %97.93                             44 Days    For additional local real estate information, information about me and my services, to request home listings by E-Mail, to request a mark...
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By Anne Zimmerman
(Keller Williams)
OH FOR CRYIN OUT LOUD IN A BUCKET!!! PEOPLE!  QUIT BORROWIN' A JACK!!! I gotta tell ya...I'm so sick of the media shouting the words RECESSION! FALLING HOME SALES! FORECLOSURES! Holy Mackerel, folks!  Doesn't anyone ANYWHERE realize that the real estate market is a LOCAL BUSINESS?!!I'm a sick as the next agent who hears, "So, are things pickin' up for ya this Spring?"  AAARRGGHHH!  PEOPLE!  I WORKED!  THINGS NEVER SLOWED DOWN for ME!!!  I offer MORE than most agents.  I help the homeowner! No, really help!  I've been known to paint, landscape, cut grass, etc.....when you sell your home, I HELP YOU!   I work with a grass roots ethic and attitude.  Great service. Surprising service. Absolute availability and total honesty. Sure, you say.  Sounds trite and corny. My point in case....you sh...
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By Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
(RE/MAX Commonwealth)
Monthly Activity Report: 4 -2008 146 homes and 22 Condo/Townhouse  have sold during the month of April with average price $253,782 for single family home, $239,613 for Condo/Townhouse. The average sale price of these homes were 4% less than asking price.  On average, these homes took 59 days to sell.This data was provided from the Richmondarea MLS.Property Type: Single Family AreaNewAvg LPUnder ContractAvg LPSoldAvg SP%SP/LPAvg DOM10165$354,87769$298,84344$264,82496.52%642079$415,07641$496,53622$522,60896.32%483096$200,56131$194,34622$163,61393.83%615085$114,03834$107,07521$88,21295.45%5960119$253,67054$256,44737$229,65796.47%64 544$267,644                   229$270,649146$253,78295.72%          59 Property Type: Condo/Townhouse AreaNewAvg LPUnder ContractAvg LPSoldAvg SP%SP/LPAvg DOM10...
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By Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
(RE/MAX Commonwealth)
Richmond Affordable Housing Development Authority and nine non-profit groups have come together this week to host a week of affordable housing awareness, April 20-26.  This weeklong series of volunteer opportunities and events is intended to increase awareness of what affordable housing means today, why it's important and who it serves in our community.  The groups are slated to build 188 new homes in the Blackwell neighborhood over the next few years. It's part of an effort to ensure that residents have an affordable and safe place to call home - no matter what their income.The goal is to build the homes using grant money and to offer financial assistance for home buyers and to build up the community.For more information, contact Southside Community Development and Housing Corp. at 231...
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By Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
(RE/MAX Commonwealth)
Monthly Activity Report: 3 -2008 122 homes and 33 Condo/Townhouse  have sold during the month of March with average price $212,799 for single family home, $225,355 for Condo/Townhouse. The average sale price of these homes were 5% less than asking price.  On average, these homes took 50 days to sell.This data was provided from the Richmondarea MLS.Property Type: Single Family AreaNewAvg LPUnder ContractAvg LPSoldAvg SP%SP/LPAvg DOM10174$279,66157$244,14942$223,48695.96%592077$512,90534$612,25112$318,93397.41%3630104$157,96427$149,97023$156,60890.41%6050127$133,05939$115,87412$120,87994.20%446091$254,06061$230,07433$244,09398.42%55 573$267,529                218$270,463122$212,79995.28%            50 Property Type: Condo/Townhouse AreaNewAvg LPUnder ContractAvg LPSoldAvg SP%SP/LPAvg DOM1...
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By Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
(RE/MAX Commonwealth)
Virginia's state capital, Richmond is wonderfully located close to the ocean and mountains and is only an 1 ½ hours from Washington, DC. Also recognized as one the "Best Places to Live and Work in America." *Richmond is proud of its rich American history while embracing modern culture in this thriving city on the James River. It boasts a charming revitalized Historic area Downtown as well Riverfront area.  Mohamed Mekhimar , Realtor®, Accredited Buyers Representative , RE/MAX Commonwealth, mekhimar@remax.net, (804) 243-0605 Cell, (804) 288-5000 Office, (804) 288-8989 Fax, http://www.richmondvahomes4sale.com/, Licensed in the Commonwealth of VirginiaBy the way...if you know someone who is interested in buying or selling real estate in the Richmond Virginia area and surrounding counties, ...
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By Wanda Fears, ABR CRS GRI SFR WCR
(Long and Foster Real Estate, Richmond Virginia)
In the coming weeks, the sign pictured above will be popping up all across Richmond. It's all part of Mayor L. Douglas Wilder's "City of the Future" plan, which is generating more than $300 million for community improvements for City neighborhoods, parks, libraries, streets and sidewalks -- without requiring a single increase in taxes."This is truly a new day for the City of Richmond, as rarely does any community have the opportunity that now is before us," said the Mayor.Approximately $113 million of City of the Future funding is already in the pipeline, being directed towards areas that will have the broadest benefit for the majority of Richmond's citizens. From neighborhood to neighborhood, the City of the Future plan will provide numerous improvements across the City. The funding me...
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By Cheryl Lewis
(Long and Foster)
This weekend at the Richmond Raceway Complex, abc Petwear will be there with the latest in bandanas! They have prints that will suit almost anyone and to fit most cats and dogs!  Keep your "other" family member in style! Cheryl the soldier's wife
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By Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
(RE/MAX Commonwealth)
A fun-filled overnight activity that mobilizes communities across the country to celebrate survivorship, remember those who lost their lives to cancer, and raise money for the fight against cancer. This is an American Cancer Society signature event. Support Relay for life event near you!University of Richmond 4/12/2008 10:00:00 AMRelay For Life of VCU 4/19/2008 11:00:00 AMRelay For Life of Chesterfield- James River  6/7/2008 10:00:00 AMRelay For Life of Courthouse  6/7/2008 10:00:00 AM Relay For Life of Petersburg/Hopewell 5/16/2008 6:00:00 PMRelay For Life of Goochland 6/13/2008 6:00:00 PMRelay For Life of Caroline County 5/30/2008 6:00:00 PMRelay For Life of Powhatan 5/30/2008 6:00:00 PM CONTACT ME for assistance with RICHMOND REAL ESTATEMohamed Mekhimar , Realtor®, Accredited Buyers ...
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By Scott Wharton, Home Inspector - Richmond
(HouseMaster Home Inspections)
Buyers and would-be investors often look to foreclosure sales to find real estate bargains. But newcomers to this market could find some unpleasant surprises if they go in blind. All homes should be thoroughly inspected by a professional home inspector before sealing the deal. Why inspect if you can't negotiate?Foreclosure homes are usually "as-is" sales. This means that buyers cannot negotiate for the cost of needed repairs, as they may do in a traditional home purchase. Buyers must absorb repair costs themselves and consider this in their purchase offer at auction. So why get a professional inspection on a foreclosure property? Too many foreclosure buyers think they're getting a deal when, in fact, they might be purchasing a property with substantial and costly defects. The repair of ...
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By Scott Wharton, Home Inspector - Richmond
(HouseMaster Home Inspections)
Price negotiations are a part of most real estate deals. Sellers usually brace themselves as the buyer's home inspector combs through the house, but sellers do not need to feel powerless and anxious. Sellers are better positioned to fend off unrealistic price negotiations by getting a pre-listing home inspection first. Stay Ahead of the GameA pre-listing inspection allows the seller to stay a step ahead. There are three major benefits for the seller to get his or her own inspection:1. Better preparation for a more efficient sale: You can choose to fix potential defects that could turn off a prospective buyer. So when you're ready to list your home it's in a highly marketable condition.2. Positive impressions: The fact that you took the time to inspect your home and address defects in ad...
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By Scott Wharton, Home Inspector - Richmond
(HouseMaster Home Inspections)
Many news reports point to the sub prime lending mess as the cause for the housing slump. But home sellers should know that plenty of people with good credit are simply cautious buyers, which can keep sales down. In most areas it's a buyer's market, so people can be picky. "Most buyers in this market will try to re-negotiate based on the findings of their home inspection. If the seller is unwilling to make repairs or lower the price, they may walk away because they knew other properties are available," says Kathleen Kuhn, president and CEO of HouseMaster. With approximately two million home inspections collectively performed by its franchise offices, HouseMaster is aware of a number of conditions that are more likely to scare buyers away. But sellers do not have to stand by with their f...
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By Scott Wharton, Home Inspector - Richmond
(HouseMaster Home Inspections)
Despite the downturn in the housing market, millions of homes will still be bought and sold. At a time when price negotiations have become more vigorous, many buyers and sellers neglect one important element that could cost them thousands of dollars: the home inspection. Mike Kuhn, co-author of The Pocket Idiot's Guide to Home Inspections has spent nearly two decades trying to change a mindset. "Approximately one quarter of homebuyers do not get a professional home inspection for their prospective home," says Kuhn. "An even smaller percentage of home sellers acquire a pre-listing inspection to help them better present their home in a competitive way." Years of witnessing costly and avoidable errors prompted Kuhn to help develop a guide to home inspections. He believed that if people kne...
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