Richmond Virginia Area Real Estate Blog

Richmond Real Estate - Home Buyer Tax Credit: How It Works

2009-01-08T21:32:00.008-05:00

First-time homebuyers in 2008 can take an income-tax credit on their purchase, thanks to passage in Congress earlier this year of the first-time home buyer tax credit.

The definition of first-time homebuyer is generous. To get the credit, the homebuyer cannot have owned a home in the previous three years. The home must be a principal residence and purchased between April 9, 2008 and July 1, 2009.

The credit is equal to 10 percent of the purchase price, up to $7,500. Single taxpayers with modified adjusted gross income up to $75,000 and couples with MAGI up to $150,000 will qualify for full credit. Singles with MAGI up to $95,000 and couples with MAGI up to $170,000 will get a reduced amount. Those with higher incomes don’t qualify.

If the amount of tax a homebuyer owes is less than the amount of the credit, they get to keep the difference in the form of an IRS refund.

The homebuyer must begin to repay the credit in two years in increments of about $500 a year over a 15-year period for those who received the full credit

Homebuyers who sell their home before the credit is repaid must pay off the loan with any profits. If they sell the home at a loss, the loan is forgiven.

[Editor's Note: The credit is set to expire in mid-2009, although industry groups, including the NATIONAL ASSOCIATION OF REALTORS®, are encouraging Congress to extend it. NAR is also encouraging Congress to make the credit available to all buyers and to eliminate the repayment requirement. More detail on how the credit works. The documents are on downloadable and printable PDFs:
* First-time home buyer tax credit chart
* First-time homebuyer tax credit FAQ

Source: Chicago Tribune, Mary Umberger (12/28/2008)

Season's Greetings and Happy New Year!

2008-12-27T08:23:00.001-05:00

Wishing you a very prosperous and healthy New Year.

Please check out the link below. I found this particular clip very appropriate, since we are all setting goals for 2009. I wish you all the best and hope that we all survive in tough times ahead.

http://www.simpletruths.tv/movies.php?movie=TTWD

Best Regards

Effective Tips for Cleaning Your Garage!

2008-12-26T21:17:00.000-05:00

Does it seem as if the things in your garage multiply almost overnight? For most people cleaning their garage is an onerous task. Here are some effective tips for gaining space to actually park your car.

* Gather all items you're not using and have a garage sale, donate the items to charity or take them to the dump.

* Dust the walls and corners; get rid of the spider webs.

* Hang heavy-duty wall hooks for larger items like yard tools, bicycles or exercise equipment that are taking up floor space.

* If you don’t have shelves, consider buying adjustable steel shelves on wheels available at warehouse stores.

* Get boxes and other items off the garage floor.

* Clean the floor and remove oil drips with cat litter and Simple Green detergent.

* Make sure all flammable materials, tools and toxic chemicals are stored out of reach of children.

* Check your garage door to make sure the opener is working properly in reverse.

Keeping your garage clutter-free and clean will allow you to have useful storage and workshop space. While your garage usually won't make or break a deal when you decide to sell your home, a clean, well-maintained garage may be a tie-breaker by enhancing an overall impression of a well-cared-for home.

Please call or send us an email if you'd like some additional real estate tips or neighborhood information.

More on housing trends!

2008-12-15T19:23:00.001-05:00

The trends in new homes as our population ages. Here are more things we’re seeing – and they make a lot of sense:
Master suites downstairs. Raised dishwashers so users don’t have to bend as much. Raised, front-loading washers and dryers. Wide halls and doors. Lower light switches. Levers, rather than knobs, on doors. Pull-out shelving in cabinets to avoid reaching. More room beneath counters for wheelchair access. Remote controls for lighting, ceiling fans, blinds, curtains and gas fireplaces. No steps at the front door and from the garage to the inside of the home.

When you look at a lot of new homes you almost need to look for these things in order to notice them. Builders are designing homes sop well that these features blend in.

Which is Better for You: A Condo or a Single Family Home?

2008-12-10T14:15:00.001-05:00

Did you know that condominiums are one of the fastest growing segments of the housing market? Owning a condo is perfect for those with busy lifestyles, little interest in home maintenance or landscaping chores or who frequently travel. Condos are a fine choice for a first home or when downsizing from a larger house.

Here are some pros and cons to consider:

Condo:
· Fewer maintenance requirements.
· Usually less expensive than a single family home.
· You own the space inside the walls.
· There can be more security with neighbors close by.
· The exterior of the building, landscaping, surrounding roads and driveways, and common areas all owned by the condo association, a group made up of all unit owners.
· Special assessments by the association for painting or repairs can be a substantial added expense.

Single family home:
· Usually offers more storage space.
· You own the interior as well as the exterior.
· You are responsible for all maintenance, landscaping and repairs.
· You usually don’t have to pay community dues or special assessments.
· You have room to grow plants, flowers, trees, veggies, etc.

Think about how your household may change over the next few years. Will you still need a larger home or will you have enough space in a condo? Or would you be happier in a smaller house with room for a garden?

For more information about real estate options in our market, call or email us. We’d be happy to provide you with that info via email or we can show you what is available.

Important Real Estate Documents to Keep in a Safe Place!

2008-12-10T14:09:00.001-05:00

As long as you own your home, here is a list of important real estate documents you’ll want to keep in a safe place:

1. Property deed: keep it for as long as you own the property.

2. Closing statements: keep statements for three years after your purchase to show capital gains.

3. Home improvement: some remodeling projects can reduce a potential capital gains hit when you sell your property, so save your receipts and consult your accountant.

4. Warranty information: keep until the warranty expires.

5. Loan papers: keep until paid off or refinanced, or in the case of mortgages that have tax-deductible interest, keep them for three years.

6. Insurance policies: keep until the policy expires.

7.Receipts or statements: save credit card receipts and/or checking account statements or cancelled checks for all major purchases such as appliances, furniture, antiques and art

When you sell your home, you’ll usually be required to submit a disclosure form. Receipts for major home improvements like a new roof or remodeling project can help you complete disclosure forms and substantiate the good condition of your home.

A bank safety deposit box or fireproof safe is the best place to store your important documents. Be sure to save an up-to-date household inventory, complete with appraisals, receipts and photos or a videotape for insurance purposes in case of loss.

Please call or send us an email if we can provide you with an updated home evaluation for insurance purposes.

How Value-Added Features Affect the Sales Price of Your Home!

2008-12-10T14:02:00.000-05:00

If you’re thinking about buying or selling a home, a recent report by the National Association of Realtors measured how certain characteristics influence the value of a property. Here are some of the findings:

* A remodel adding an additional 1,000 square feet of living space increases a home’s market value by just 3.3%.

* Adding an extra bedroom adds about 4% to the price while an additional bath can add 24%.

* Houses advertised as “fixers” sell for 24% less than other houses.

* A garage adds about 13% to the price.

* Central air conditioning adds about 12% to the price.

* A basement increases a home's value by an average of 9%.

* A sitting area in the master bedroom increases the price by about 8%.

* Features that add the most value are a family room, a dining room, a whirlpool and a security system.

This information can help determine the return you can expect to see on your remodeling investment as well as to compare property values when you’re shopping for a home.

Please call or send us an email if you’d like us to help evaluate your remodeling plans and determine how much they’ll return on your investment. Or, if you are considering a purchase, we can help you get the best buy on a home with the amenities that are important to you.

13 Reasons You Should Buy a Home in the Richmond Area, Now!

2008-11-11T10:04:00.004-05:00

Conventional wisdom says that this is an awful time to buy a new home. The housing market is in a funk. Mortgage companies have tightened their guidelines and homes are sitting on the market for months without selling. If you listen to the news it's all doom and gloom with talk of recession and inflation, and questions of how long it will be before we see a recovery. So who would be crazy enough to buy a home now?

There is a famous quote by noted investor Baron Von Rothschild - the time to buy is when there is blood in the streets. Here in Richmond the market isn't as bad as it is in other parts of the country, but if you are a seller sitting in a home that won't sell, the situation is grim. But the bad news for the seller is great news if you are looking to buy a home. Here are some reasons to buy a home here in the Richmond area, now:

Selection - There are homes in the market in all areas and all price ranges. With more houses on the market you can pick and choose and find the home you want. It wasn't so long ago that buyers were jumping on new listings as they came onto the market, even if the home wasn't exactly what they were looking for. You can pick and choose, now.

It's a buyer's market - Again, the best time to buy is when most people want to sell. If you buy now you can get a lot more house for your money, and you have a lot more negotiating power.

Interest rates are low - Mortgage interest rates are at their lowest point in the last several years. This means your mortgage payment takes you a lot farther than it did before. We're not that far off of the all time lows we hit several years back. It is smart to take advantage of the low mortgage rates while they are still available.

Great financing is available - There's a lot of talk about how the problems in the mortgage market have made it harder for borrowers to get financing. Some programs have been cut out, and guidelines are tougher than they were before. But there is still a lot of mortgage money available, including options for low or no money down, and some great programs for first time home buyers. If you are a first time home buyer in Richmond, you may qualify for Virginia Housing authority Program which offers a below market interest rate and down payment and closing costs assistance. There are other programs for home buyers in Virginia with great rates and low fees, ask me how?

Tax savings - Buying a home is one of the best ways to save money on taxes. Your mortgage interests, real estate taxes and in many cases mortgage insurance are all tax deductible. If you are a first time home buyer this means that after-tax, you can pay a lot more for a mortgage payment than you pay for rent.

Appreciation - This might not seem like the best reason to buy, with prices stagnating and falling in some areas, but in the long run, home prices always move up. There is a lot of pessimism in the real estate market today, but even the most pessimistic are bullish in the long run.

Equity build up - As you pay down your mortgage you build up equity in your home. Most people don't even think of this because it is so gradual, but every mortgage payment (as long as it is an amortizing loan) pays a little less interest and a little more principal. In a way owning a home is a form of forced savings.

Tax refunds are coming out - If you wanted to buy but were short of cash, your tax refund could be just what you need for the down payment and closing costs.

Rents are rising - Buying a home means you can fix your mortgage payment, at least the principal and interest portion. Rents are projected to rise this year and over time.

Those are the hard financial reasons for buying a home now, but there are other good reasons to buy now:

You need more room - Has your family has grown, and you are bursting at the seams? You need a new place to put all your stuff? If you have needs that you've been putting off, this could be the right time to buy and take advantage of the buyers market.

Control - If you own your home, you can do what you want to with it. Have a dog? Not a problem. Want to plant a garden? Go for it. Want to paint stripes on the walls? Paint your heart out, it's your home and you are in control.

Pride of ownership - There is a big difference between renting a place and having a home of your own.

It's the American Dream - Not only that, but buying a new home gives you a reason to throw a house warming party.

These are some reasons for buying now, but buying isn't the right course for everyone. Buying a home is a long-term investment. If you can't afford to hold on for the long run, you might be better off renting.

Effective Pricing Leads To A Sold Sign On Your Property!

2008-11-11T09:09:00.001-05:00

According to a recent report from the National Association of Realtors, almost 80% of home buyers surf the Web to begin their home search. That means home buyers are well aware of what properties are available on the market and the prices they are selling for. Therefore, now more than ever, pricing is the key to selling your home.

Some sellers think that a higher price will give them some negotiating room. But in fact many buyers don't even look at a property that is overpriced, much less make an offer on it.

This can lead to the property's becoming "shop-worn." Buyers often inquire about the length of time a property has been on the market. If it has been on the market a long time, they wonder if there is something wrong with it. The sellers then have to drop the price, taking less than they might have if they had priced it correctly to begin with.

Homes that are well-priced attract the buyers in their price range. The buyer's perception is that the home is a good buy, and then the seller is positioned to receive the listing price or close to it.

Please feel free to call us if you have any pricing or general real estate questions. We would be happy to provide you with a free market evaluation on your home to ensure it is competitively priced in the marketplace so you will receive the best offer.

How to Avoid 8 Costly Moving Mistakes!

2008-11-08T09:33:00.003-05:00

If you have a move in your future, there are definite ways to make the process go as smoothly as possible. Plan ahead and you'll avoid these 8 costly moving mistakes.

1. Scheduling your move on the same day of closing
While most buyers take possession of their new home on the day of closing, there are a lot of conflicts that can arise unexpectedly. Be sure to keep in constant communication with your escrow company so as not to delay your moving plans.

2. Not requiring a written estimate
It's fine to have moving companies give you an estimate over the phone or Internet. But to get a firm price, you need to ask the company to send a representative to walk through your home while you point out exactly what you want transported. Be sure you understand the conditions of the estimate - can they raise your bill on delivery? Does the contract allow them to bill you for more later?

3. Choosing a moving company based on price alone
You could end up spending more time and money in the end trying to fix a moving disaster. Check out the company's references (try to get two), licensing, insurance and length of time in business.

4. Not making a first night survival kit
Better to be safe than sorry. If your shipment hasn't arrived or you're simply too tired to unpack everything, you'll be thankful to have an accessible overnight bag with some essential items you'll need for the first night in your new place. Don't forget toiletries, medication, children's and pet's necessities - and maybe even a bottle of champagne to celebrate.

5. Not using a dolly or a hand truck
Whether you're moving yourself or just rearranging things after a professional move, the money you spend to rent or buy moving equipment will pay for itself by dodging back strains and chiropractic visits.

6. Refusing extra coverage for loss and breakage
The basic limited liability coverage offered to you, free of charge, by the movers will not be sufficient. And most homeowners' policies don't cover items broken or lost in a move. Extra insurance can be purchased through an independent insurance company, which will cover you for the duration of the move. Your mover will be able to direct you to a company that will bind your move.

7. Not labeling boxes
When packing boxes, make sure you label the top and sides of boxes with contents, location of contents in your house and any special instructions, such as "fragile" or "open first." Also, by keeping a list of the contents on the outside of the box, you won't have to dig through several boxes marked "kitchen" just to find a pan.

8. Not keeping your receipts
If you're moving closer to a job, your moving costs may be tax-deductible. Keep receipts for moving household goods, utility change fees and lodging and travel expenses. However, if your employer covers those costs, you won't be allowed to deduct them.

How to Find a Good Investment Property!

2008-11-08T09:24:00.002-05:00

In 2005, 23% of all homes sold were investment properties, according to the National Association of Realtors. There's no question that investing in real estate can be lucrative, but it's important to choose your properties carefully to make sure you don't end up getting burned.

Choose the Right Neighborhood
Just like with any other real estate purchase, location is all-important. Whether you're buying an investment property to rent or to renovate for resale, a large part of your success will come down to the neighborhood you buy into. Developing or undervalued neighborhoods are both good prospects for investment buying. The easiest way of getting a feel for good prospects is just to jump in your car and drive around your area. Look for areas with a lot of development going on, or where new housing projects are planned. If you're buying a rental property, bear in mind that if you're going to be doing maintenance and repair work yourself, somewhere relatively close to your own home is a good idea so that you don't have to spend a lot of time traveling to the property.

Don't forget the old rules still apply - buy the worst house in the best street, not the best house in the worst street. You don't want to end up buying a property that's worth significantly more than neighboring houses, as this will mean your investment has no room to appreciate in value because the surrounding properties are dragging its value down.

Foreclosures
Buying foreclosures can be risky, much more so than buying property in the traditional fashion. However, if you're aware of the risks beforehand and take steps to minimize them, you can end up with a great deal. Before you even consider buying in this way, you should be very familiar with foreclosure laws in your state, in addition to knowing as much as possible about the neighborhoods you're interested in.

To find foreclosures, look in your local newspapers for advertisements with key words such as "bank-owned," "foreclosed," or "REO" (real estate owned). Look on lender websites to check for foreclosure listings, and call lenders and ask to speak to someone who handles foreclosures.
As a final caveat - don't buy anything without having it inspected first, no matter how good the property looks on the surface. Property inspection is the best way of ensuring you end up with a profitable deal.

Why Good Credit is Important
When it comes to financing the purchase of rental property, lenders often require larger down payments and higher interest rates. This is because lenders know that owners of rental properties are more likely to default on loan payments than on payments for their personal homes. Simply put, you pay more because rental property is a higher risk investment. To improve your chances of getting a good loan, it's important to have good credit and to reduce your credit card and other consumer debt as much as possible.

It's also important to ensure you have a good-sized cash reserve left over after you've bought your property, to help pay for surprise expenses such as repairs (and periods when the house is vacant, if you've purchased a rental property).

Get to Know the Tax Laws
Owning investment properties can provide big tax benefits. Getting to know your state and federal tax laws is important for maximizing the profits you can make from investing in real estate. For example:

*Depreciation on an investment property is tax-deductible at an annual rate of 3.64% of the home's market value.
* Mortgage interest on investment properties is tax-deductible.

Do your homework, choose your properties carefully and watch your investments grow!

How to Give Your Home a Positive Image with the Right Scents!

2008-11-04T06:43:00.001-05:00

Taking advantage of a smell’s strong, almost subconscious effects on the brain is an easy way to accentuate your home’s positive image.

For a warm, inviting scent, boil a pot of water on the stovetop, pour in a teaspoon of vanilla, and add some cinnamon or cloves. The aroma of fresh-baked bread or cookies is another sure-fire winner.

While some smells create positive images, others create negative impressions and should be avoided. Cigarette or cigar smoke can make even a clean house seem dingy.

To absorb airborne smells, place a small bowl with half an inch of white vinegar in the room and let it sit for a few days. Vinegar sprayed on carpets, drapes or upholstery can also help with absorbed odors. (Be sure to test first on an inconspicuous spot to ensure it doesn’t change the color.) A thorough cleaning can also help remove smoking or pet odors.

Use a lemon-scented wax to polish wood surfaces for a fresh, clean aroma. Bathrooms seem cleaner and brighter when scented candles are lit.
Please call or send an email if we can provide other tips to help you create a comfortable environment in your home or answer any real estate related questions. We appreciate the opportunity to be your trusted real estate resource.

How to Evaluate a Home’s True Potential

2008-11-04T06:40:00.000-05:00

If you’re thinking about buying a home, you’ve probably developed a pretty clear mental picture of what your new home should be like. But remember that even a home that’s not in ideal condition can still have great potential.

Here are some tips to help you look beyond bad decorating, old carpet and ugly wallpaper to see a jewel in the rough:

The floor plan is extremely important. Look at entrances and exits, where the rooms are located and how foot traffic will flow throughout the home. A good floor plan is worth a lot, especially when you consider the cost of changing it.

Walls and floor coverings make an important first impression. Paint is relatively inexpensive, so imagine the walls in the colors you would choose. Carpets and vinyl floor coverings can be removed and replaced, hardwoods can be refinished.

The kitchen is usually the center of any home. Paint and new appliances can make a huge difference if you don’t like what's there now. The most important thing to consider is whether it has enough counter and cabinet space to suit your needs.

Unless you're building your dream home, you will probably never find the perfect house. So before you make an offer, keep in mind what you can't live without and what you can improve upon with some well-placed upgrades and improvements.

If the house is cluttered and not as clean as you would like, remember that it will look different with your belongings and a thorough, professional cleaning is always an option.

If the exterior of the home doesn't have a great deal of curb appeal, just imagine it with a fresh coat of paint and new landscaping.

Please call or send us an email if we can help with more ideas on how to see past the surface when looking at a potential new home.

8 Ways to Make a Home Sell Faster!

2008-10-27T20:44:00.001-04:00

Simple fixes and staging practices can focus buyers' attention in the right places and keep them from getting sidetracked by personal items in the home.

Here are some staging suggestions from Deborah Ehrlich-Layne of Staging Plus in Tampa, Fla., Handyman Matters, and HGTV's The Stagers.

Eliminate countertop clutter. A countertop covered with small appliances and utensils looks crowded, not spacious.
Pack up the too-personal. Don't leave toiletries on the counter. Stash family photos.
Be prepared for snoops. Prospective buyers pull open drawers, look in closets and peek behind the shower curtain.
Make sure things work. Dripping faucets, burned-out light bulbs, and squeaking hinges detract from the home's appeal.
Think "white-glove clean." Mop, dust, vacuum, clean baseboards, wash windows. Make sure the house looks fresh and smells neutral.
Make sure the front door is clean and the hardware polished. Power-wash walkways.
Store furniture that makes rooms feel crowded.
Show every room for the kind of room it is. Maybe you've turned your formal dining room into a home office. Get rid of the desk and computer, and bring back the dining table and chairs.

Source: The Dallas Morning News (09/05/08)

First-Time Buyer Tax Credit: A Reason to Buy Now!

2008-10-27T20:16:00.003-04:00

The home ownership tax credit that the federal government created earlier this year is a hard-won tool at your disposal to encourage your customers to jump off the fence and get into the home buying market.

When you combine the tax credit with today’s continuing low interest rates, large selection of for-sale inventory, and low home prices, many of the pieces are in place for your customers to buy now.

How the Tax Credit Works

The First-time Home Buyer Tax Credit was passed this year as part of the Housing and Economic Recovery Act (H.R. 3221) on July 30 and targets any individual or household that hasn’t owned a home for at least three years. Taxpayers can take the credit on their 2008 tax return if they bought their house this year after April 9.

It’s worth up to $7,500 and can be taken in a single tax year. Authorization for the credit ends July 1, 2009, so if your customers wait to buy in the first half of 2009 they can take the credit on their 2009 tax return.

The actual credit amount is set as a percentage of the home purchase amount. That percentage amount is 10 percent, so your customers can get 10 percent of the home price credited against their tax liability, up to a maximum $7,500.

Income limits are $75,000 for individuals and $150,000 for households. Individuals whose income exceeds the $75,000 limit but isn’t more than $95,000 can still take the credit but on a reduced basis. The same thing applies to households earning up to $170,000.

Any house is eligible as long as it’s a primary residence and is in the United States.

Buyers Have 15 Years to Pay Back

To help keep the program cost effective for taxpayers, the federal government requires the tax credit to be paid back in small, 6.67-percent increments over 15 years. For that reason, some analysts have likened the credit to a 15-year, interest-free loan to help make home buying affordable.

There’s one restriction on the type of financing that your customers can use if they plan to take the credit. That restriction is on tax-exempt mortgage financing. That only applies if your clients are using below-market interest-rate financing from a public agency or nonprofit that’s funding the loan using proceeds from a tax-exempt mortgage-revenue bond issue. For most buyers, this won’t be an issue. It’s mainly an issue for low-income buyers using special mortgage financing.

Be a Resource for Clients

NAR Government Affairs has created two helpful documents that you can share with your clients to help them learn more about how the tax credit works. The documents are on downloadable and printable PDFs:
First-time home buyer tax credit chart
First-time homebuyer tax credit FAQ

The IRS Web site also offers tax-credit guidance in an article that provides answers to many frequently asked questions.

For additional local real estate information, information about me and my services, to request home listings by E-Mail, to request a market analysis on your current home, or to tour the MLS Listings please visit my web sites at www.RichmondVAHomes4Sale.com or www.e-RichmondHomes.com.

Consumer Tip: Home Mortgage Interest!

2008-10-26T02:46:00.001-04:00

You can save thousands of dollars in interest on your home, and pay it off in much less than the term of the loan, by just paying a little extra with each monthly payment. For example, if you had a home mortgage of $100,000, payable at 7% per annum interest, by paying just an extra $110 monthly toward the principal, you would save $53,439 in interest payments over the life of the loan. You would save thousands of dollars, and would own your home, free and clear, in just 20 years.

If you would like to pay a little extra on your loan principal monthly, and want to know how much you could save, call Mohamed Mekhimar. We will run an amortization schedule for you and/or refer you to our preferred mortgage specialist.

Some Easy Ways To Maintain Home Values!

2008-10-26T02:41:00.000-04:00

The easiest way to maintain and improve your home's value is consistent maintenance and repair. Keeping up with seasonal issues like inspecting your roof for weather damage in the spring or cleaning gutters and downspouts in the fall keeps the time you have to spend on these tasks at a minimum. When you're thinking about the value of your home, also keep these things in mind:
__ Overall condition of your property. In addition to the above tasks, inspect your property regularly and maintain a clean home. With the pace of life getting faster, many people just don't have the time to "fix up" a new home. They want a home they can move into easily. Keeping up with maintenance and small repairs also allows you more time to enjoy your property.
__ Bedrooms and bathrooms. How many are there? Have they been remodeled or updated?
__ Outdoor area. How big is the yard? Is there a deck or patio?
__ Garage. 1, 2 or 3 cars?
__ Kitchen. How up-to-date is it? Has it been remodeled?
__ Is there a family room? How big is it?
Visit The Davidson Team at www.WenatcheeHouses.com for home maintenance tips, buying and selling tips, MLS property searches, town and community information and more!

Richmond Election Information!

2008-10-25T08:31:00.000-04:00

Richmond voters, if you think you’re too busy to get out and vote on Election Day or that your vote "won’t matter anyway," consider that just one vote ...
-made English the language of America instead of German (1776)
-approved American independence from England (1776)
-gave Thomas Jefferson the presidency (1800)
-admitted Texas (1845) and California (1850) into the Union

Presidential Race
Democrat: Barack Obama
Republican: John McCain
Independent: Ralph Nader
Libertarian: Bob Barr
Green: Cynthia McKinney
Constitution Party: Chuck Baldwin

U.S. Senate
Democrats: Mark Warner
Republicanss: Jim Gilmore
Libertarian: William Redpath
Independent Green: Glenda Parker

U.S. House of Representatives
1st District
Democrats: William Day
Republicans: Robert Wittman
Libertarian: Nathan Larson

2nd District
Democrats: Glenn Nye
Republicans: Thelma Drake

3rd District
Democrats: Bobby Scott

4th District
Democrats: Andrea Miller
Republicans: Randy Forbes

5th District
Democrats: Tom Perriello
Republicans: Virgil Goode Jr.

6th District
Democrats: Sam Rasoul
Republicans: Bob Goodlatte
Independent: Janice Allen

7th District
Democrats: Anita Hartke
Republicans: Eric Cantor

8th District
Democrats: James Moran
Republicans: Mark Ellmore
Independent Green: J. Ron Fisher

9th District
Democrats: Rick Boucher

10th District
Democrats: Judy Feder
Republicans: Frank Wolf
Independent: Neeraj Nigam

11th District
Democrats: Gerry Connolly
Republicanss: Keith Fimian
Independent Green: Joseph Oddo

Which is Better for You: A New Home or a Resale?

2008-10-25T08:09:00.002-04:00

When it’s time to make a move, one of the first decisions most people think about is whether to buy a brand new house or a previously-owned home. Here are some distinct advantages of each choice:

New house:

* Modern floor plans that could include a “great room,” bigger closets, more baths,
entertainment room, etc.
* The opportunity to choose upgrades and customize floor coverings, colors and more
* More energy-efficient insulation, windows and heating/cooling systems
* The added protection of a warranty from the home builder

Resale home:

* Existing features, including window treatments and mature landscaping
* Location -- existing homes are often closer to metropolitan areas instead of farther out in the suburbs
* Established neighborhoods and sense of community
* The opportunity to use an existing home as a base to remodel and create a unique property

Only you can decide if a brand new home or one with a few years on it is right for you. If you would like additional information on which option might work best for you, don’t hesitate to contact me with any questions.

Which is Better for You: A Condo or a Single Family Home?

2008-10-25T08:04:00.004-04:00

Did you know that condominiums are one of the fastest growing segments of the housing market? Owning a condo is perfect for those with busy lifestyles, little interest in home maintenance or landscaping chores or who frequently travel. Condos are a fine choice for a first home or when downsizing from a larger house.

Here are some pros and cons to consider:

Condo:
· Fewer maintenance requirements.
· Usually less expensive than a single family home.
· You own the space inside the walls.
· There can be more security with neighbors close by.
· The exterior of the building, landscaping, surrounding roads and driveways, and common areas all owned by the condo association, a group made up of all unit owners.
· Special assessments by the association for painting or repairs can be a substantial added expense.

Single family home:
· Usually offers more storage space.
· You own the interior as well as the exterior.
· You are responsible for all maintenance, landscaping and repairs.
· You usually don’t have to pay community dues or special assessments.
· You have room to grow plants, flowers, trees, veggies, etc.

Think about how your household may change over the next few years. Will you still need a larger home or will you have enough space in a condo? Or would you be happier in a smaller house with room for a garden?

For more information about real estate options in our market, call or email us. We’d be happy to provide you with that info via email or we can show you what is available.

First Time Home Buyers: Part 8 of 8

2008-09-28T22:48:00.000-04:00

Grading Local Schools

When thinking of buying a home, most people research various neighborhood amenities, including local schools. Regardless of whether you have children, schools can affect property values and are an important consideration when buying a home.

Here are four ways to tell if area schools are having problems:

Local test scores low or dropping
Low test scores can be a product of resource shortages, poor teachers, lack of commitment by the school district or parents.

Student enrollment dropping
If fewer families are moving into the neighborhood, or parents are choosing schools outside the neighborhood, the school may be having problems.

Poorly maintained or vandalized buildings
Inadequate upkeep may be a sign of funding shortages and low involvement from parents.

Troubles at PTA meetings
Tension among parents or between parents and the school's teachers or management may indicate serious problems in a school.

If you have any doubts about the school quality in your target neighborhoods, please give Mohamed Mekhimar a call and we'll be happy to discuss them with you. Learning about local schools helps you make an informed choice about where you live.

First Time Home Buyer: Part 7 of 8

2008-09-28T22:46:00.001-04:00

What Goes Into Your Monthly Mortgage Payment

When you’re thinking of buying a home, you may wonder what your mortgage payment will look like. When you have a mortgage, you’ll have several different portions of your payment each month.

Your mortgage payment consists of principal, interest, taxes and insurance (often abbreviated as “PITI”), and sometimes additional fees, such as homeowners association dues.

Principal is the money you borrowed to purchase the home.

Interest is the cost of borrowing money.

Taxes are paid by homeowners to local governments, and are usually a percentage of the assessed property value.

Insurance helps protect against financial loss from fire, natural disasters or other hazards. Most lenders require you to have a homeowner’s insurance policy on your home because it will help protect their investment as well as yours.

Remember, many loan quotes will only include your principal and interest. You’ll also need to factor in the taxes and insurance to calculate your total monthly mortgage payment.

When you’re ready to take the next step to buying your home, please give Mohamed Mekhimar a call. We’ll be happy to explain the process further and help you narrow your home search.

First Time Home Buyer: Part 6 of 8

2008-09-28T22:43:00.000-04:00

All About Down Payments

An important aspect of getting a home loan is saving money for your down payment. You have many choices to make your home more affordable to you.

Lenders used to require a down payment of at least 20 percent of the home's price. These days, however, many lenders offer flexible home loan programs allowing you to put very little down -- three percent or less of the home price. For some buyers it's possible to buy a home with no down payment at all, or to receive help from local down payment assistance programs.

If you decide to pay make a down payment less than 20 percent, your lender may require Private Mortgage Insurance (PMI), which protects the lender in case you cannot repay the mortgage. Talk with your mortgage professional to find out the smartest deal for you.

You'll also need to pay for closing costs, which are costs associated with initiating a loan. These can include loan origination fees, discount points, attorney fees, recording fees and pre-paids. They often will total from three to five percent of the price of the home.

Once you have you down payment and loan pre-approval, it's simply a matter of finding the right house. Please call or email Mohamed Mekhimar when you're ready to take this next step towards owning your own home.

First Time Home Buyer: Part 5 of 8

2008-09-28T20:41:00.001-04:00

Choosing the neighborhood for your home!

Buying a home is an investment in the neighborhood as well as the house. In fact, the character and amenities of the neighborhood may be as important to the property value as the house itself. No matter what kind of neighborhood you're looking for, it's important to know its history and future when you decide to buy.

Here's what to research:

1. Recent sales - Find out if the market is slow and what homes have been selling for.

2. Homes now for sale - What homes are listed in the area, and are they listed above past sales? This will give you a good idea of the area's overall market value.

3. Home appreciation - Historical data on sales gives the best indicator of a neighborhood's potential. Are homes appreciating at 3%, 5%, 10% or higher every year?

4. Schools - School scores and district boundaries are very important to research before moving into a neighborhood. The closest school is not always in your district, and school scores reveal if a neighborhood is invested in the schools' success.

5. Crime - Get the hard facts about any problems in the neighborhood -- don't depend on anecdotal information.

6. Demographics and growth - Find out how the area is growing and changing.

7. Community -- Learn about neighborhood features, such as public schools, shopping areas, parks, commuting options and more.

We can help you with this information-please give us a call or email us any questions you have. You'll find that the more you know about the neighborhoods you're considering, the easier it will be to narrow your search for your new home.

First Time Home Buyer: Part 4 of 8

2008-09-23T08:30:00.001-04:00

The Importance of Pre-approval

Pre-approval can be a very valuable step towards purchasing a home. Many home buyers get pre-qualified for a home loan early on, and then become pre-approved before beginning a serious home search. By completing your mortgage application prior to choosing a home, you can get a pre-approval letter stating how much home you can afford.

Your pre-approval letter lets you know exactly how much you can spend, and it shows home sellers and real estate agents that you're serious about buying a home. This may give you leverage in the negotiation process. Many sellers actually prefer to work with pre-approved buyers, especially in hot real estate markets.

To find a mortgage professional and get started with your pre-approval for a loan, please call or email me. My goal is to provide you with practical information as you consider your next move.

1% Seller-Buyer Program!

2008-09-23T08:20:00.002-04:00

If you purchase any home using Mohamed Mekhimar as your buyer’s agent, he will list and sell your home for as little as 1% LOC* backed up with a written guarantee.

How does this program work? The answer is simple. It’s a package deal. Allowing me to represent you in the sale of your current home and in the purchase of another home should not cost you twice. Providing you this incentive to allow me to represent you as your preferred Real Estate Agent is really nothing more than being fair and reasonable to you ...and your pocketbook.

When you purchase your next home or condo, the Seller of that property will be offering a ‘selling office commission*’ to the Broker & Agent who represents the buyer. In most cases this commission is 3% which is normally paid by the Seller...not by you. This cost is my compensation for representing you as your buyer’s agent during your home purchase. It’s a win-win scenario for each of us. You get my Full Service program from Listing to Closing when I sell your home as your listing agent AND you get full representation and excellent customer service with me as your buyer’s agent ...from helping you find your next home to the purchase offer through to Closing.

You will have sold your current home and purchased a new home and saved thousands of dollars in real estate fees.

By the way, the home you buy can be any home in the MLS, as well as For Sale by Owner or new construction. As long as I represent you as your buyer’s agent, I will list and sell your home for 1%.

Please let me know how I can be of service to you in making your next home purchase or the sale of your current home a rewarding experience.

*LOC - Listing Office Commission SOC - Selling Office Commission

First Time Home Buyer: Part 3 of 8

2008-09-23T08:03:00.002-04:00

How Much Home You Can Afford

First-time buyers are often unsure about the financial aspects of buying a home, and you may have many questions swirling in your head. How much can I afford? Do I need a large down payment?

Your home price range will be determined by your income, credit history, the cash you have for a down payment and closing costs, and your debt. How much you earn compared to how much you owe will likely determine how much the bank allows you to borrow.

The financial rule of thumb is: your total monthly debt service, which will include your monthly mortgage, shouldn't be more than about 36 percent of your gross monthly income. Most experts say that your monthly housing expense, including taxes and insurance, should not exceed about 28 percent of your gross monthly income.

Naturally, every situation is different, and each lender has different rules about working with buyers. A number of choices within your control can affect your monthly payment as well. For example, you might choose an adjustable rate loan, which has a lower initial payment than a fixed rate program. Similarly, a larger down payment may lower your monthly payment.

If you'd like more information about how much home you can afford, please call or email Mohamed Mekhimar. We can help you get the mortgage information you need.

First Time Home Buyer: Part 2 of 8

2008-09-23T07:56:00.001-04:00

Considering Making a Move?

When you're thinking about making a move, the first steps in the home buying process are:

1. Deciding when you want to make your move
2. Considering how much money you would like to spend
3. Thinking about what type of home you would like
4. Deciding where you would like to live

The next step is usually finding out how much loan you can qualify for and deciding the type of financing will work best for you.

If you're in the "thinking about it" stage, you will want to speak with a lender about receiving pre-qualification. If you choose to become pre-qualified, the lender will determine how much you can borrow based on financial information you provide to the lender. Pre-qualification is useful for making preliminary decisions about how much home you can afford, but does not assess your creditworthiness.

You will need to fill out a loan application and go through the lender's loan approval process at a later date. When you decide to buy a home, you will want to become pre-approved for a loan prior to beginning your home search.

Please don't hesitate to call or email me for additional information about the buying process. Our goal is to provide you with practical information as you consider your next move. And, when you're ready to make your move, we'll help you find your dream home and handle all the details of the transaction, so all you need to do is pack

How to Make Rooms in Your Home Look Larger with Lighting!

2008-09-09T16:47:00.003-04:00

A bright and well-lit home can dramatically change the mood of your home and help you feel relaxed and comfortable all year long. Here are some tips to lighten up your home and make the rooms look big and inviting:

* Choose different types of lighting to avoid the expense of installing windows or skylights. Lamps or other accent lighting can make a dull room appear elegant or small rooms seem larger.

* If you have a room with a dark wall or a narrow, dark hallway, hang a group of pictures and light them with adjustable halogen track lighting to create the effect of a photo gallery.

* Paint ceilings a light color to avoid making them seem lower than they are and give the room a cramped feel.

* Use color to add cheer to a room. Pink and green tones have a calming effect while darker colors, such as red, tend to cause agitation. Neutral wall tones create a harmonious environment. Bright colors should be used as accents in pillows, artwork or flowers.

* When selecting paint, tape large color chips together on a wall to get a better idea of the shades you like. When you’ve narrowed your choices down, buy a quart of 2 or 3 colors and paint 1 or 2 foot squares next to each other on both shaded and brightly lit walls. Choose the color that looks best in both kinds of light.

Call or send me an email if you’d like the names of decorators, contractors, or other service providers.

First Time Home Buyer: Part 1 of 8

2008-09-09T16:36:00.004-04:00

Why Buy Instead of Rent?

When you're thinking about buying your first home, it's essential for you to be confident in your decision to buy instead of rent. However, you may not know about the many great reasons to buy a home! Here are just a few of them:

Smart investment
When you invest in a home, it offers the possibility for appreciation in value. The equity becomes yours when you're still paying off your mortgage. You even get to live in it while your investment matures.

Tax advantages
Since both mortgage interest and property taxes are tax deductible, homeownership can save you significant amounts of money every year.

Planned housing costs
You decide how much you spend on your home, including repairs and improvements. Unlike renters, homeowners with a fixed-rate loan can lock in their monthly housing costs.

Improvements to your taste
You can choose which improvements to make your own property, such as a deck, kitchen remodel, or new paint, instead of needing permission from your landlord.

If you have more questions about making the decision to buy a home, please feel free to call (804-243-0605) or email (mmekhimar@remax.net)!

Warm regards,

Real Estate Investor Series: Part 6 of 6!

2008-08-10T17:01:00.001-04:00

Checklist for real estate investment property

Homeowners look for a set of criteria when buying - school district, curb appeal, low crime rate, proximity to job, number of bedrooms, right layout, perfect-sized yard. While location is still a primary factor when you invest in real estate, most investors also add these to their checklist:

1. New single-family construction
2. A neighborhood that is mostly a primary-home community (rather than renters)
3. Square footage between 1400 and 1600
4. 3 bedrooms, 2.5 baths with 2-car garage
5. Nice yard but no pool (too much of a liability)
6. Safe neighborhood with little or no graffiti on public structures, fences, etc.

Another factor to consider is close proximity to your own home. Especially when starting out, you may need to visit your rental properties frequently-to pick up a check, make minor repairs, etc. For these reasons, any property more than 45 minutes away becomes less desirable.

It is important to remember you are not purchasing for your own use but to attract a high quality renter. Savvy investors choose properties based on the criteria above rather than their personal preferences. Doing so lets them pick from a wider base of homes and find the better bargain.

If you have more questions on which properties would make the smartest buys for you as a real estate investor, please don't hesitate to call or send an email.

Warm regards,

Real Estate Investor Series: Part 5 of 6!

2008-08-10T17:00:00.001-04:00

Building A Real Estate Investment Team 101

While serial investors (who buy additional rental properties without selling their current ones) are likely to invest with only the help of a real estate agent, other investors benefit from having a team of experts.

In addition to a real estate agent (and your tax advisor), some team members for you to consider are:

1. A builder or general contractor who can evaluate the structural integrity of a unit
2. A specialist in leases who is experienced in writing contracts
3. An attorney who practices in real estate law
4. A mortgage professional who can offer you different financing options

Having a team of investors gives you more knowledge as well as more financial resources as well. One word of caution: while friends or family may be interested in joining your real estate investment team, it is best to pick individuals based on the experience they offer.

Warm regards,

Real Estate Investor Series: Part 4 of 6!

2008-08-10T16:59:00.003-04:00

Profiting from the Fixer-Upper

Many real estate investors earn a living out of renovating run-down properties and reselling them, or holding onto them for rentals. Commonly known as the fixer-upper, it offers you two paths to real estate investment.

Buy a Fixer-Upper and Sell Again

In addition to offering a handsome profit, fixer-uppers can offer a true sense of satisfaction as you transform a dilapidated property into one with true appeal. But before you take the plunge, ask yourself three questions:

1. Can I buy it far below market value?
2. Can I do much of the work myself (or contract it out at reasonable rates)?
3. Can I get the job done quickly?

Remember, every month you add to the project is costing you in lost rental income, taxes, insurance, utilities and more.

Buy, Raise the Rents, and Sell Again

Quite often the tenants in a rental property are paying below market rates simply because the landlord hasn't raised the rent in years, or perhaps the property is not maintained well.
Both scenarios present you a great opportunity to buy the building, raise the rents (making upgrades if necessary) and resell the apartment building at a higher price. This raises the GPI-the gross potential income-which is the maximum gross income generated from the rent if all the units were occupied.

If you would like more information on these types of investment properties in our area, please don't hesitate to give us a call or send an email.

Warm regards,

Real Estate Investor Series: Part 3 of 6!

2008-08-10T16:55:00.003-04:00

6 ways to make a profit in real estate investment

Many homeowners get into real estate investing by buying a home and using this home as a rental when they upgrade to a larger home. Called "serial purchasers", they continue to buy (and hold onto) additional properties.

Other investors prefer to find a quicker path to real estate investment success through one of the following ways.

Buy and Flip
Flipping means selling the property you just bought for a higher price as soon (or in some cases before) you take title on the property. While flipping allows you to make money fast in a hot market (or on a property you purchased well below market value), you may need to pay capital gains (talk to your tax advisor).

Buy and Scrape
Scraping is tearing down an existing home and building a new home. To capitalize on this idea look for areas where home prices are rising, vacant lots are few, and there's an inventory of older homes. While there are many permits you need to obtain, scraping can be a very lucrative process.

Buy and Split
Just as you can buy one lot and split into two, you can also buy one house and subdivide into two homes right down the middle, or buy a larger house and develop each floor into several condominiums. Another variation is to buy a house with a large lot, subdivide the lot, rent out the house, and sell off the land.

Smart real estate investors look at existing properties with new uses in mind (and they check into all building and zoning regulations). We can help you by identifying potential rental properties in the Richmond area. Please call or email with any questions you have.

Warm regards,

Real Estate Investor Series: Part 2 of 6!

2008-08-10T16:53:00.003-04:00

Market indicators tell you when to invest in real estate

Real estate prices cycle through highs and lows. Tracking the following market indicators will help you decide if it's a good time to invest in real estate in your area.

Job Growth
People go where the jobs are, and home prices follow jobs. A strong local job market is a sure sign of a healthy real estate market. While the Wall Street Journal gives you insight into the nation's overall economy, check the Wenatchee World and other local resources for North Central Washington specifics.

Housing Inventory
The housing inventory is the number of houses for sale at one time in the area. If there are more houses than buyers, prices tend to fall and if there are more buyers than houses, the opposite happens. Also look at the number of months or days it is taking to sell a home. If it's less than 60 days the market is typically considered hot.

Number of Repos on the Market
A repo is a house that has been taken over by the bank because the owner failed to meet the loan payment-in other words, it's a foreclosure. The more foreclosures in your area, the weaker the real estate market.

Number of Multiple Offers on Homes
Multiple offers are when two or more buyers "bid" at the same time for the same house. It's a sure sign of a hot market, usually resulting from a limited inventory creating the need for buyers to compete on price for the same property.

To learn about the local conditions in our market, please don't hesitate to call or send an email. We will be happy to get you the information you need.

Warm regards,

Real Estate Investor Series: Part 1 of 6!

2008-08-06T04:10:00.004-04:00

5 Reasons To Invest In Real Estate

According to the National Association of Realtors (NAR), second-home sales (for vacation homes and investment homes) accounted for four out of 10 homes sold. While vacation-home buyers purchase primarily for enjoyment, investment-home buyers are looking to generate income in the following five ways.

#1: Appreciation
Returns of 10 percent and more are not uncommon if you select good real estate properties and a solid market. It's a return rate you won't find on bank products or with most stocks.

#2: Cash Flow
More than half of all investment-home buyers rent out their properties. Month in and month out these properties create income from renters AND gain long-term appreciation.

#3: Less volatility
While real estate cycles through periods of highs and lows, it doesn't change dramatically day-to-day like stocks. Investing in real estate is viewed as being less speculative than stocks.

#4 Tax Advantages
Your real estate investments offer you two tax advantages: you can deduct property expenses and depreciation. Plus doing a 1031 exchange lets you avoid paying tax on profits from the sale of rental property if you roll it into another real estate investment property (talk to your tax advisor).

#5 Value-Added Improvements
The saying "buy it low and sell it high" applies to stocks and real estate. The advantage with real estate is you can buy inexpensive property, fix it up, then raise the rent or sell it for more money.

If real estate investing is a path you are interested in pursuing, please feel free to call or email with any questions you have.

Have an outstanding day!

2008 Top Ten Places For Business and Careers!

2008-08-06T03:59:00.004-04:00

This year, Raleigh, N.C. is number one for the second year in a row due in part, to its strong job growth. For the third straight year, the Southeast is home to half of the top ten, however there is new blood near the top with Lexington, Atlanta and Richmond joining the ranks and Spokane and Fort Collins also jumping ahead. Rounding out the top ten is Knoxville, Tenn. where business costs are 14% below the national average.

Also, the Forbes ranking may have you rethinking Iowa as just "the corn state". Des Moines, ranked fourth, with its sports arena, art center and heated 3 mile sky-walk, now boasts an unemployment rate of 3.4% and business costs that are 10% below the national average.

2008 Top Ten Places For Business and Careers

1. Raleigh, North Carolina (#1, 2007)
2. Boise, Idaho (#3, 2007)
3. Fort Collins, Colorado (#28, 2007)
4. Des Moines, Iowa (#4, 2007)
5. Lexington, Kentucky ( #30, 2007)
6. Atlanta, Georgia (#25, 2007)
7. Richmond, Virginia (#14, 2007)
8. Olympia, Washington (#10, 2007)
9. Spokane, Washington (#20, 2007)
10. Knoxville, Tennessee (#5, 2007)

Receive our Monthly Newsletter!

2008-07-14T21:10:00.003-04:00

Receive our monthly newsletters and stay up-to-date on local real estate.

As real estate professionals, we're often asked, "How's the market?" To answer that question, we send a regular e-newsletter that provides housing market trends and helpful homeowner tips.

We share this newsletter with clients, friends and neighbors in the area, and they enjoy it so much we wanted to share it with you as well. Whether you own a home, are looking to buy, or are thinking about making a move, this newsletter simplifies your life with:

· Info on how real estate trends affect the market
· Seasonal tips for maintaining a home's comfort and value
· Room additions that add to the experience (and resale value) of a home
· How-to's on makeovers-tools, wall coverings, furniture, and the results
· Latest ideas on how backyards, gardens, decks, and porches are becoming the hottest new living spaces
· And much more!

The newsletter comes monthly, which gives just enough breathing room between issues so you start looking forward to receiving the next one. If you would like to receive our monthly newsletter, simply email us at mmekhimar@Remax.net.

Additionally, if you're selling your home in North Central Washington, check out our Free Over-The-Net Home Valuation service: http://www.e-richmondhomes.com/What_is_my_home_worth/page_1755282.html.

And if you're buying, don't miss out on our Exclusive Buyer System, where you beat out other buyers on hot new homes and properties right when they come on the market: http://www.e-richmondhomes.com/Receive_home_listings_by_e-mail/page_1755299.html.

P.S. Please know that we are the only people who will be using your email address. We do not share your information with anyone

Why Use a REALTOR®

2008-06-22T23:22:00.001-04:00

"Many consumers consider selling their home directly but eventually turn to REALTORS®. Smart home sellers realize they need the expertise in pricing their home, making connections with REALTORS® working with buyers, arranging and staffing open houses, and coordinating with other professionals in the sales process."
- National Association of Realtors Website (NAR)

We'd like to share the following Web page from NAR, aiming to educate the home sellers and buyers on the true value and befits of working with a Realtor. On the high level:

"REALTORS® Are Experts"
"REALTORS® Are Part of the Community"
"REALTORS® Protect You"

Click here
http://www.realtor.org/home_buyers_and_sellers/why_use.html to learn more!

It's also very important to realize that not all real estate agents are the same...we're not a commodity! Some work part time, some run their business like the CEO of a Fortune 500 company, and some--to be quite frank--are out for themselves and thus don't serve the best interests of their clients.

With that in mind, choose a REALTOR® that aligns with your goals and ideals, and someone you have a good connection with. As much as the Internet wants you to believe the home buying and selling process is in-personal, I'm here to tell you that couldn't be any farther from the truth. There several steps and processes involved in a successful real estate transaction, those of which will save you precious time and money if you choose the right real estate agent.

How to Obtain Top Dollar for Your Home!

2008-06-22T23:12:00.002-04:00

If you are considering selling your home, you are probably asking yourself questions like:

* Should I replace the tile counters in the bathroom with granite?
* Does the wallpaper make the house look dated?
* Is the cost of installing new kitchen cabinets worth the expense?
* Do I need to put on a new the roof or can I just have it inspected and replace the deteriorated areas?
* Is it necessary to paint all the interior walls, or would touching-up the obvious areas work just as well?
* Would installing new carpets and/or refinishing the wood floors be worth the expense?
* Should I have the house painted before putting it on the market, or use that as a bargaining point in negotiating the sale?

These are all outstanding questions. And none of them has an easy yes or no answer. Your home is unique, as is the neighborhood you live in.

Part of The Davidson Team's expertise is helping sellers prepare their homes with the right improvements that bring in top dollar. We would be happy to stop by and do a simple walk-through to point out areas to focus on to improve your house's market value, as well as what projects will not likely give you a good return on your money or time.

There is no charge for our service. Our goal is to be the neighborhood expert. The more neighbors we talk to and the more familiar we become with the homes in our community, the better level of service we can offer to families moving into our area.

If you are interested in having us do a free walk-through to get your house market-ready or simply have questions you'd like answered, please contact us today!

Five Local High Schools Make Newsweek List Of Top 1300 In U.S.

2008-05-21T11:41:00.003-04:00

Five local high schools have made Newsweek magazine's list of the top 1300 public high schools in America.

205 - James River High School - Midlothian.
457 - Midlothian High School - Midlothian.
893 - Clover Hill High School - Midlothian.
937 - Atlee High School - Mechanicsville.
1022 - Monacan High School - Richmond.

Full Story . . .

Richmond Virginia Real Estate - Good time or bad time?

2008-05-19T21:45:00.003-04:00

With all the "good news" and "bad news" that we see on in the media about today's economy, it is hard for the homeowner to decide if now is the time to buy and/or sell real estate. We are often asked, by homeowners who want to move up or move down to a different home, if now is the right time to sell and purchase.

The fact is, regardless of market conditions, if you want to purchase a "move-up" or "move-down" home, there is no wrong time to do so. If the market is extremely active, you will get a premium price for the home you are selling and the active market will demand that you also pay a premium price for the home you purchase. If the market is very slow, you will have to accept a reasonable price for your home but you will find less competition when purchasing your new home. You sell at a reduced price but you also purchase at a reduced price.

When selling a home to buy another, there is no bad timing. In a good market you sell and buy with inflated dollars. In a slow market you sell and buy with deflated dollars. You really don't gain or lose in either situation.

Now is a great time to buy and sell real estate.

Tips for Getting Pre-approved for a Mortgage!

2008-05-19T21:39:00.002-04:00

In a competitive market, getting mortgage pre-approval is essential. It gives you a great bargaining tool when you're negotiating with sellers. Regardless of the market situation, pre-approval is also handy because it means that before you even start house-hunting, you've got a good idea of what you can afford.

Pre-approval versus Pre-qualification

Pre-qualification and pre-approval are similar processes. Having pre-qualification means that you have a general idea of how much mortgage you can afford, but it's not guaranteed that you will get that amount when you apply for the mortgage. Pre-approval takes the process a step further than pre-qualification, because the lender will verify your employment, income, assets, debts, and credit history, and you will receive a letter stating that your mortgage is approved for a certain amount of money, usually with a limit of between 30 and 90 days. That means you know exactly how much you have to spend, and sellers know that you're a serious customer.

Pre-approval has another advantage in that it saves you time when it comes to closing on a property - you've already been through about 90% of the mortgage application process. If you have pre-approval it means that all you need to finalize the mortgage is a purchase contract and a property appraisal. Being able to close quickly is an advantage in a competitive market, and in a slow one it may help you negotiate a great deal on a property.

Note that if you are pre-approved for a mortgage, you must notify your lender immediately if your financial circumstances change between pre-approval and closing, as your pre-approval may be invalidated.

Increase Your Chances of Pre-approval

Pay Your Debts
Any debt that you can't pay in full within six months will be included as part of your monthly debt total. And the higher your debt total, the lower the chances you have of getting pre-approved - if your monthly debt total exceeds about 36% of your gross monthly income, getting pre-approval may be difficult.

Don't Create New Debt
Your pre-approval is subject to an evaluation of your finances. If you're thinking about buying a home then it's a wise move to refrain from making any large credit purchases. It's estimated that every $100 a month you pay on a credit card reduces your home loan eligibility by $10,000.

Preparation
When you're preparing to apply for a mortgage pre-approval, there is a wide variety of supporting documentation you'll need to locate and have ready for the application process. This includes tax returns, pay stubs, evidence of any other income, bank statements, and debt payment booklets or account statements.

What to Do If You Have Bad Credit
When assessing your credit, mortgage lenders typically pad most attention to your FICO score. Some lenders won't even consider offering a mortgage to anyone with a FICO score of less than 680. So what do you do if your credit isn't that good?

Check your credit reports - obtain a copy of your FICO score and credit reports and check to make sure there are no errors.
If you can manage a larger down-payment, it may help your chances of getting pre-approved.
Sub-prime mortgage lenders offer mortgages for people with credit problems. They usually involve paying a higher interest rate, however it's possible to get a sub-prime mortgage and then refinance to a conventional loan with a lower interest rate after a couple of years of rebuilding credit.

Buying a neighborhood/ community!

2008-05-19T21:34:00.003-04:00

When searching for a new home, don't forget one of the most important considerations: location, location, and location.

Because the neighborhood/community in which you live affects your life in many ways--including your children's education, travel time to and from conveniences and work, the level of comfort you feel with your surroundings, the future value of your home investment and many other factors--we suggest that you focus on a neighborhood/community before you search for a specific home.

Working through your Realtor, explore the personalities of the neighborhoods/communities in your price range, before narrowing your search down to individual homes. Take the time to research the schools, driving times, available conveniences, the social and professional make-up, value trends, etc. Be sure you choose to view homes only in neighborhoods that fit your personality and life style. This will ensure a happy end result!

How to Find a Good Investment Property!

2008-05-19T21:24:00.002-04:00

Video of the week!

2008-05-17T18:19:00.001-04:00

FREE Foreclosure Listings in Richmond, Virginia - REO listings in Richmond!

2008-05-09T23:28:00.004-04:00

Did you know that the majority of foreclosure listings are on your local MLS?? There are many websites that charge to you get foreclosure lists from them when this information is out there for free!! That's right...I said it...for free!! You can contact your local friendly agent (hint hint) who can set you up on automatic emails, you will receive listings that fit your criteria....See homes as they come on the market!!! Buying a foreclosure has its challenges, so it's always good to have an agent who is familiar with the process....If you have questions or, want to receive automatic emails. Check my web site htt://www.RichmondVAHomes4Sale.com and call me, Mohamed 804-243-0605!

Homes for sale in Richmond, Homes for Sale in Chesterfield, Homes for Sale in Henrico, Homes for Sale in Glen Allen, Homes for sale in Mechanicsville, Homes for sale in Hanover, Homes for Sale in Midlothian, Homes for sale in Goochland, Homes For Sale in New Kent, Homes For Sale In Powhatan, Foreclosure listings in Richmond

Happy Mother's Day!

2008-05-09T22:40:00.009-04:00

Richmond Virginia - REO Property!

2008-05-08T06:37:00.007-04:00

This is a deal you don't want to miss!
$99,900 ~ Bank Owned Property ~ House for Sale - This is a deal!

Location: Richmond Virginia
This is a deal cannot beat! $99,900
2 bedroom Brick cape good for investors or handyman, 1596 sq ft and lot size is .18 acre. Built in 1940.

How to Make Money in Real Estate Investing!

2008-05-03T16:43:00.003-04:00

Lower Your Taxes

Tax incentives for real estate investors can often make the difference in your tax rates. Deductions for rental property can often be used to offset wage income. Tax breaks can often enable investors to turn a loss into a profit.

For which items can investors get tax breaks? You could claim deductions for actual costs you incur for financing, managing and operating the rental property. This includes mortgage interest payments, real estate taxes, insurance, maintenance, repairs, property management fees, travel, advertising, and utilities (assuming the tenant doesn't pay them). These expenses can be subtracted from your adjusted gross income when determining your personal income taxes. Of course, these deductions cannot exceed the amount of real estate income you receive. In addition to deductions for operating costs, you can also receive breaks for depreciation. Buildings naturally deteriorate over time, and these "losses" can be deducted regardless of the actual market value of the property. Because depreciation is a non-cash expense -- you are not actually spending any money -- the tax code can get a bit tricky. For more information about depreciation and various tax alternatives, ask your tax advisor about Section 1031 of the U.S. Tax Code.

Have a Positive Cash Flow

There are two kinds of positive cash flows: pre-tax and after-tax. A pre-tax positive cash flow occurs when income received is greater than expenses incurred. This sort of situation is difficult to find, but they are usually a strong and safe investment. An after-tax positive cash flow may have expenses that outweigh collected income, but various tax breaks allow for a positive cash flow. This is more common, but it is generally not as strong or safe as a pre-tax positive cash flow.

Regardless of what kind of real estate you choose to invest in, timely collections from your tenants is absolutely necessary. A positive cash flow -- whether it be pre-tax or after-tax -- requires rental income. Be sure to find quality tenants; a thorough credit and employment check is probably a good idea.

Use Leverage

One of the most important factors in determining a solid investment is the amount of equity you are purchasing. Equity is the difference between the actual worth of the property and the balanced owed on the mortgage. In order to increase equity, investors often choose to borrow money. Borrowing money allows you to magnify the return on your investment. Borrowing money to increase equity is known as leverage. Leverage can make the money you invest out of your pocket go a long way.

In order to illustrate the value of leverage, let's take a fictional
example: assume you bought a $200,000 rental property with a 30% down payment; the remaining 70% of the purchasing price is paid for with borrowed money, Let's further assume that after several years the home is worth $270,000. The $70,000 return on your $60,000 investment -- the amount that you paid directly -- is more than 100%. (There is more to calculating the return on investing, but this will keep it simple.) If you bought that same $200,000 property without borrowing, the return on your investment would be 35%. Leverage puts borrowed money to work for you.

Benefit from Growing Equity

While investing in real estate is relatively complex, it is often worth the extra work. When compared to other financial investments, like bonds or CD's, the return on investment for real estate purchases can often be greater.

The key to real estate investing is equity. Determine an amount of equity that you want to achieve. When you reach your goal, it's time to sell or refinance. Determining the proper amount of equity may require the assistance of a real estate professional.

Richmond Virginia Real Estate - Home Buyer guide

2008-04-22T21:59:00.004-04:00

Home buying and home ownership is not always easy, but most people agree that the rewards outweigh the challenges. The first challenge, of course, is to learn all the steps to buying a home. Our Buyers Guide will provide helpful tips and information you need to understand the process and get started on your path to home ownership.

Click here Home Buyer Guide to review the guide.

For additional Buyer and Seller information, check out a variety of educational resources at Richmond Homes Website

Relay for life in Richmond Virginia

2008-04-18T21:40:00.003-04:00

Relay For Life represents the hope that those lost to cancer will never be forgotten, that those who face cancer will be supported, and that one day, cancer will be eliminated.

As a volunteer for the American Cancer Society, I am asking for your help in the success of this year’s event. In 2006 with your help or the help of businesses just like yours, The Relay For Life – Courthouse Event raised over $104,000.00. Due to the support of the Relay For Life, the American Cancer Society is making a difference in the live of cancer patients and their families right here in our community. Will your business help us in our fight to find a cure for cancer?

The Relay For Life - Courthouse Event is: June 2 - 3, 2007, at L.C. Bird High School, 10am – 8am

What is Relay For Life?

Relay For Life is the American Cancer Society’s signature activity and fundraiser. It offers everyone in the community an opportunity to participate in the fight against cancer. Our event is a 22-hour event where teams of people camp out at L.C. Bird High School and take turns walking around the track. Teams form from businesses, clubs, families, friends, hospitals, churches, schools, and service organizations. Each team is asked to have a representative on the track at all times during the event. Participants get donations prior to and during the event to aid in cancer research.

Relay is a phenomenon that occurs in thousands of communities across the country. This is the most successful nonprofit event in the United States. It rallies communities of people from all walks of life – often around people whose lives have been touched by cancer. It is a celebration of life for those who have survived, a memorial for loved ones we have lost, and a chance to join forces in a powerful fight.

Help us accomplish even more in 2007!

There are many ways to support Relay For Life, either as a team captain, participant, sponsor, volunteer, or donor. Relay is much more than a fundraiser, the event takes on a carnival like flair with games, music and lots of fun. We would love for you to join! Give us a call for more detailed information and/or visit our website at:
www.acsevents.org/Courthouse/RFL.

Consequences for 'Walk-Away' Borrowers!

2008-04-18T17:32:00.001-04:00

The government and the lending industry are taking aim at “walk-away” home owners who stop making payments and months later send the house keys back to their lender.

Such borrowers will not be able to get another mortgage through Fannie Mae for five years, unless there are “documented extenuating circumstances.” In that case, the prohibition is three years. Even after the prescribed time has elapsed, a borrower with a foreclosure in his file will have to make at least a 10 percent down payment and have a FICO credit score of at least 680 to qualify for a Fannie Mae loan.

Freddie Mac, which counts foreclosures as major credit black mark for seven years, is now aggressively pursuing walk-away borrowers where permitted under state law, a senior official said.

Federal legislation enacted last year allows home owners who negotiate loan modifications with lenders and have portions of their principal debt eliminated to escape income tax liability for the amount forgiven.

Walk-away borrowers, by contrast, have nothing forgiven, and the Internal Revenue Service may demand taxes on the balance they never paid, the IRS says.

Source: Washington Post Writers Group, Kenneth R. Harney (04/12/2008)

Buyers, what are you waiting for?

2008-04-09T10:53:00.004-04:00

Buyers are now faced with a common dilemma in today's buyer markets. They often ask...

"If home prices are still going down, should I wait to purchase until later this year?"

The short answer is no. It's not smart to time the market. My advice to first-time, move-up, and relocating buyers: buy when it's the right home at the right time for you.

THREE REASONS WHY NOW IS A SMART TIME TO BUY
1. Flexible loan options are available. Buyers with "ok" to good credit can obtain 100% financing, asset-based loans, and put little money down.

2. Interest rates are great. Buyers who were on the fence have jumped on the ability to obtain a good interest rate.

3. More competition from Sellers to sell their homes. The market heated up in March, but there is even more competition among Sellers during summer months.

"The thing that will make home prices stop falling is the
very same thing that will push mortgage rates higher,"
says Jim Svinth, chief economist at mortgage firm
Lending Tree. So anything you gain by a further drop in
prices might be offset by rising financing costs.”
- TIME MAGAZINE | February 25, 2008

Vacation Homes!

2008-04-05T20:10:00.001-04:00

It may hit you every year about this time as you schedule your annual family trip to the coast or other favorite vacation spot. "Wouldn't it be great if we owned our own beach home (or condo or ski chalet)? Instead of paying rent to someone else, we'd be paying ourselves." Well, if you decide to refinance and spend the money on a vacation home, here are some tips to consider.

The 17-week formula

How do you know if you can afford a vacation home -- even with the help of renters? Estimate that one peak-week rental fee should be enough -- and hopefully more than enough -- to pay the home's monthly mortgage if you finance your purchase. For example, if you borrow $300,000 at 5.5 percent for 30 years on your beach cottage, your monthly house payment would be $1,703.36. That should be your minimum weekly peak-rate rental fee. If you don't think you can charge that much for rent, don't buy. However, if you can be reasonably sure of renting your home for at least 17 weeks a year, you should break even. Most owners can count on 12 peak rental weeks each year. Those 12 weeks each year should pay the annual mortgage. Five additional weeks of non-peak rental income usually enable owners to cover taxes, cleaning and maintenance expenses, and other incidentals.

Call Mohamed if you are looking to invest into a vacation home. We'd be happy to make sure you land the best deal possible!

Luxury Home Trends!

2008-04-05T19:55:00.000-04:00

One of the best ways to update your home and ensure a good resale value is to adopt trends from the luxury home market. These cutting edge trends eventually find their way into the new construction market and become mainstream styles. While most households can't afford in-home elevators or a custom wine cellar, here are a few of the affordable latest luxury home must-haves that are well on their way to new homes across the nation.

In the Kitchen

Warming drawer - Better than the warm setting in your oven, warming drawers keep foods hot and moist until guests arrive or the rest of the meal is ready.

Refrigerating oven - Program it to refrigerate during the day then log on remotely to start the cooking and have your meal ready when you get home.

Multi-level islands - A raised portion of a kitchen island adds dimension, a comfortable eating surface and, if placed strategically, can mask the clutter around a sink or stovetop area.

Three-door refrigerator - Two French doors on the top and a large one-drawer freezer on the bottom make for easier access to the items you use most.

Food prep sink - An extra sink doesn't need to take up a lot of precious counter space but in a large kitchen it can improve the work flow and even encourage others to participate in the food preparation.

In the Bath

Vertical spas - One of the hottest trends in today's baths, these incorporate multiple showerheads, water diverters and sophisticated temperature control systems into your shower.

Heated tile floors - Add to the spa feeling with cozy radiant heat under tile flooring. If you're considering new flooring, this is easy to install and a big selling point.

Towel warming drawers - This luxury trend started in the kitchen and is taking electric towel bars to a new level by warming up your robe and slippers.

Stone countertops - Granite, marble and soapstone come in natural colors that complement most bathroom cabinets. They're also easier to keep clean compared to traditional tile.

In the Master Suite

Fireplace - Gas fireplaces are quickly becoming fixtures in luxury homes. Builders are maximizing their effect by constructing them into a wall adjacent to the master bathroom so they can be seen from both sides.

Walk-in closets - Walk-ins are almost required in new homes today, but the luxury market has taken them to a whole new level with the addition of extravagant cabinetry and center islands with storage drawers.

Outside

Outdoor kitchens - More and more homeowners are taking their cooking and entertaining out back with the addition of fully functional kitchens that include grills, custom cabinets and worktops, and even wood-fired ovens.

Heated patios - An emerging trend in cooler climates, radiant-heated patios and driveways melt snow and ice and keep walkways safe.

Whether you are thinking of selling soon, or simply want to enjoy the benefit of upgrading your home while you're still living there, these affordable luxury trends are certain to hold their appeal for years to come.

Take the test!

2008-04-05T15:48:00.002-04:00

Before you buy your next home. look for the details!

Don’t Lose Equity to Foreclosure!

2008-04-05T11:53:00.002-04:00

In today’s market, more and more people know someone who is struggling with their mortgage payment as a result of a sharp increase in their interest rate or other loan factors.

If you know someone who is facing a possible foreclosure, I have information that can help. And the sooner we act to help someone in this position, the better the outcome. Because once a house starts to go into foreclosure, it can be difficult to stop and the ramifications can be long lasting:

the owners may face substantial late fees
the owners may loose all of their equity
the owners may suffer with a mark on their credit that will take years to erase

But, this does not have to happen. There are a number of effective strategies to help the homeowner forestall a foreclosure. Renegotiating the loan is one possibility. Two other options are a short sale (sell for less than the loan amount with bank approval), or a quick sale (sell for more than the loan amount but at a lower, more attractive market price).

As a full service real estate agent, I am committed to help clients with all their housing needs. Whether it is to help preclude a foreclosure, pull equity out of their home for investment properties, or assist them in either finding a new home or selling their current one, I have the knowledge and the expertise to make the process go smoothly.

Foreclosure is a nationwide problem, but it’s also in our own backyard. If I can help you or anyone you know hold on to their home (or minimize their losses), please call or email me. I appreciate the opportunity to be your trusted real estate resource.

What does $1 million buy in your community?

2008-03-29T23:53:00.003-04:00

Short Sale Hurting the Market!

2008-03-29T22:25:00.001-04:00

A new term we have come to know as realtors is short sale. People just see a great price and don't realize that the asking price is not an accepted price from the bank.
As a listing agent you can not find out what price the bank will accept until you have a valid offer. The only way to ensure yourself of getting an offer is to price the property low. Once the property gets an offer the property finally gets looked at by the bank. MONTHS LATER, you might actually get a response, most likely a counter offer that is higher then asking and totally unrealistic.

Spring is here and its time to plant.

2008-03-29T22:21:00.001-04:00

Buying a Richmond Home? Down Payment Assistance Program

2008-03-29T20:39:00.003-04:00

Are you looking to purchase your first home in the Richmond area soon? Well, the city of Richmond has a Downpayment Assistance Program for first time home buyers that could help make this dream a reality. The goal of the program is to increase the homeownership rate among first time buyers in lower income and minority households.
There are some requirements to Downpayment Assistance Program. There are income limits and the buyer must be purchasing their first home within the Richmond city limits. There is also a free homebuyer education course that must be attended.

For more information on the complete requirements and details on the program please feel free to contact me mmekhimar@remax.net or give me a call 804-243-0605.

Servers, keep your tips!

2008-03-24T09:21:00.003-04:00

Do you have a manger or supervisor that insists on splitting your tips?

Starbucks has been ordered to pay employees $105 million because shift managers thought they deserved a cut of the tip jar.

San Diego Superior Court Judge Patricia Y. Cowett cited California law that prohibits employers from taking employees’ tips. The suit, filed in 2004, included about 1,400 Starbucks locations in California and was filed on behalf of 100,000 workers.

You served it, you earned it!

Yes, you can sell and buy a home!

2008-03-23T21:22:00.004-04:00

Here are a few issues to consider.

You may have to sell for a lower price...in fact you will sell for lower than last year!
You can buy the home of your dreams for a lower price too!
You will only be seeing people that really want to buy....believe it! Credit has tightened so only real buyers are in the market.
Can you expect some low-ball offer....YES!
Can you expect to sell in a reasonable time.....Yes if marketed properly!

So if you want to sell do it! Do it with your eyes wide open...know what to expect. Know what your final sell price range is probably going to be. Here are the three probable prices to consider...Your list sell price, the offer price and the actual sell price.

So can you sell? YES. Can you buy another home which will be of similar discount to match what you had to do? YES. So if you do that when the market comes back will you increase in value to make up for the current market down turn? YES, it always comes back...if you have purchased up your investment will go up exponentially.

So is this a great time to sell and buy? rates are great...the home selections are as good as it is going to get and your opportunity to find exactly what you want at a great value could not be better.

How will I know how much to offer?

2008-03-23T13:01:00.002-04:00

“Shoot for the moon. Even if you miss, you'll land among the stars.” Les Brown

That’s good advice for space travel. And it could encourage an actor to continue their rehearsals until they make it to Carnegie Hall. However it’s not a proven strategy for buying real estate.

As a homebuyer your question might be: “How will I know how much to offer?”

Who will help you decide? Does a home seller or their listing agent worry about you getting a good deal on your purchase? “NO!” The seller and the seller's agent are concerned primarily about their interests, not yours.

My customers have benefited from my attending to their concerns. You can, too. When we work together I will work to make sure you find the right home for your needs and wants. And then we’ll work to get the most acceptable pricing and financing package, too.

I encourage you to visit my website at www.RichmondVAHomes4Sale.com where you can become familiar with homes for sale, home sales prices, and the most important market and neighborhood information. You can even begin your search for your new home with the dream home finder. See something you like? You can schedule a showing. Now is the time to visit.

Don't risk driving by the home of your dreams. Call upon me to find your home for you.

A Good Time to Buy a House If You Can Afford One!

2008-03-22T19:43:00.003-04:00

Finally, it's a buyer's market out there.

For years rapidly rising prices kept many first-time home buyers out of the housing market. But as home values slide further downward and interest rates hover at relatively low levels, it may be time to start looking to buy that first house.

That is, if you have a secure job, can afford higher down payments than were required a few years ago and can meet lenders' much stricter income and credit requirements.

For additional local real estate information, information about me and my services, to request home listings by E-Mail, to request a market analysis on your current home, or to tour the MLS Listings please visit my web sites at http://www.richmondvahomes4sale.com/ or http://www.e-richmondhomes.com/.

30-year fixed rate at 5.62%!

2008-03-21T14:20:00.001-04:00

Long-term mortgage interest rates fell Thursday, and the benchmark 10-year Treasury bond yield dropped to 3.33 percent.
The 30-year fixed-rate average dipped to 5.62 percent, and the 15-year fixed rate sank to 5.08 percent. The 1-year adjustable rate rose to 5.53 percent.
The 30-year Treasury bond yield slipped to 4.17 percent.

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5.

For additional local real estate information, information about me and my services, to request home listings by E-Mail, to request a market analysis on your current home, or to tour the MLS Listings please visit my web sites at www.RichmondVAHomes4Sale.com or www.e-RichmondHomes.com.

Lease-to-Own Primer!

2008-03-19T00:50:00.002-04:00

Lease-to-own agreements can help sell a hard-to-sell property during a sluggish housing market. Here’s how they work:

A seller agrees to rent a property to an interested buyer for a set period of time, usually one to three years. At the end of the lease, the buyer has the option to purchase the home at a preset price.
A portion of the monthly rent paid during the lease is usually counted toward the down payment. To cover that, the seller charges a rent increment or monthly premium of $200 to $300 compared to comparable rentals.
Many owners also charge an option fee for taking the property off the market, usually 1 percent to 2 percent of the sale price. This may be applied toward the purchase.
Sellers have no guarantee that renters will buy at the end of the term, but if they don’t, they keep the option fee and the amount of the rent that would have gone toward the down payment.

Source: Orlando Sentinel

For additional local real estate information, information about me and my services, to request home listings by E-Mail, to request a market analysis on your current home, or to tour the MLS Listings please visit my web sites at www.RichmondVAHomes4Sale.com or www.e-RichmondHomes.com.

Why Now is a Smart Time to Buy!

2008-03-19T00:42:00.002-04:00

Now is a great time to buy a home, say the financial gurus at the Wall Street Journal.

The Journal calls it a buyers market and offers these suggestions for first-timers getting their feet wet. While their advice is solid, it’s not revolutionary, but some potential customers might find it reassuring.

Remember this is a place to live not a stock market investment, they say. Lenders want buyers to spend no more than 28 percent of their gross monthly income on mortgage payments, real estate taxes, and home insurance. Buyers shouldn’t count on stretching further because lenders won’t approve their loans.

Cash is king. Having enough money in the bank to pay closing costs that are typically an additional 2 percent to 3 percent of the price of the home is necessary.
Location. Location, location. As any good real estate professional knows, homes in good school districts where the crime is low are much more likely to hold or increase their value.
Compare. Besides just looking at the comps, buyers should examine what it would cost to rent a similar house in the same area and they might consider what it would cost to buy land and build a comparable home.
Think long haul. It will probably take at least six or seven years of living in the house to be able to sell and come out ahead.

Source: The Wall Street Journal, Shelly Banjo

Fed cutting rates again!

2008-03-18T13:10:00.001-04:00

In an emergency move to prop up credit markets, the Federal Reserve cut the discount rate to 3.25 percent over the weekend and expanded the list of banks and financial institutions that can borrow money at that rate.

Why use an e-pro!

2008-03-11T04:19:00.002-04:00

An e-PRO is a REALTOR who has successfully completed the e-PRO training program for real estate professionals. Endorsed by the National Association of REALTORS (NAR), the e-PRO course teaches professionals the nuts and bolts of working with real estate on-line: Web sites, email, on-line tools, and most of all, what today's consumer really wants. e-PRO certification places one in the top 1% of all Realtors in the nation.

Should you use an e-PRO?

Yes -- especially if you're an Internet user. In this fast-paced age, technology has become a necessity. An e-PRO is someone who has recognized and responded to the needs of the new consumer, saving them time and expense. If you choose an e-PRO, it's a safe bet you'll get the kind of service you want -- and need.

Accept no substitutes!

Some agencies give out their own "e-" certifications (such as "e-Certified", "eCertified", etc.), for marketing purposes, but they are NOT endorsed by the National Association of Realtors and are not as rigorous and demanding as the e-PRO training and certification requirements.

What is an e-PRO—— and why should you use one?

2008-03-11T04:10:00.002-04:00

What is an e-PRO—— and why should you use one? A short guide for the Internet consumer When you're on the Internet, you don't have time to waste on endless searches for useful real estate information. You want to get things done quickly and without hassle. So chances are you'd like a real estate agent who Answers e-mail promptly and professionally. Respects your on-line privacy. Offers home listings and other Internet tools to help you find or market a home. Enter the e-PRO.

An e-PRO is a REALTOR® who has successfully completed the e-PRO training program for real estate professionals. Endorsed by the National Association of REALTORS®, the e-PRO course teaches professionals the nuts and bolts of working with real estate on-line: Web sites, e-mail, on-line tools, and most of all, what today's consumer really wants.

What does all this mean to you? There are several benefits of working with a certified Internet professional.

More privacy
Are you reluctant to give out contact information through the Web for fear of being pestered or spammed? e-PROs understand. They've learned the Web isn't just a place to do business; you need information from someone you can trust.

That's why e-PROs respect your privacy. They respond quickly to your questions, but don't send you unwanted communication. And they protect your personal information.

Less hassle
Tired of struggling to find information? e-PROs are more likely to have access to the latest Internet utilities, making your life easier. These tools may include:

On-line home tours
Instant access to comprehensive neighborhood data
Extensive property listings
Immediate e-mail notification of just-listed homes meeting your criteria
Referral networks and on-line forums, where e-PROs can quickly find information——even potential buyers——from other e-PROs
Newsletters on current real estate conditions in your area
Electronic faxes sent to you by e-mail
Advanced software, PDAs, and laptops to find you answers on the spot
The result: you get more information, more easily. With electronic files, you have less paperwork to deal with. And since your agent uses e-mail, you can even eliminate phone tag. The e-PRO streamlines your entire transaction, from showing to closing.

Less expense
An e-PRO's access to advanced technology can save you considerable expense. You have more tools to find or market your home, so you're likely to get a better price. With on-line home tours, you reduce in-person showings——and the costs involved. And by using e-mail, you save money on long-distance calls and fax charges.

Relocating? An e-PRO is ideal for you. With the tools to do your research electronically, you can make a decision on a home the first day you're in town——or without traveling at all. You and your family save on travel costs. And after you've decided to buy, monitoring the sale by e-mail saves you even more.

Should you use an e-PRO? Yes——especially if you're an Internet user. In this fast-paced age, technology has become a necessity. An e-PRO is someone who has recognized and responded to the needs of the new consumer. If you choose an e-PRO, it's a safe bet you'll get the kind of service you want——and need.

Copyright© InternetCrusade® and NATIONAL ASSOCIATION OF REALTORS®. All rights reserved. No portion of this web site, including graphics or text, may be reproduced without the expressed consent of InternetCrusade® and NATIONAL ASSOCIATION OF REALTORS®.

Henrico Parks & Recreation Events April 2008

2008-03-11T04:01:00.002-04:00

Henrico Parks & Rec Events April 2008
APRIL 2008

Baa, Baa Little Sheep, Have You any Wool?
For all ages. It is shearing time, and Meadow Farm is using historic hand shears on their herd of Gulf Coast Native sheep. Come watch the process and learn more about this rare breed and what their wool is used for. Information: Anna Truong, 501-5520.
Sat, Apr 5, 12, 19, & 26, 1-3 p.m.
Meadow Farm Museum. Free.

The Richmond Symphony in Concert
For all ages. The Henrico Family Concert Series features the Richmond Symphony in concert. This concert will be conducted by Associate Conductor Erin Freeman. Bring the entire family for a great evening of music! Information: Amy Perdue, 501-5138.
Mon, Apr 7, 7 p.m.
The Cultural Arts Center at Glen Allen.
Adults: $12. Children 12 and under: $6.
For ticket information and reservations, call the Richmond Symphony Box office at 788-1212.

Henrico Community Band Spring Concert
For all ages. The Henrico Community Band, under the direction of Archer Johnson, invites you to a night of music the entire family can enjoy. Selections range from Beethoven to the Beatles and beyond. Information: Elaine Payne, 501-5115.
Thur, Apr 10, 7:30-9 p.m.
Henrico Theatre. Free. Call for reservations.

Gaming in the Tavern
For all ages. Enjoy backgammon, checkers, chess, cards, dominos, and other games while sipping a root beer float! Children must be accompanied by an adult. Information: Bob Lehr, 261-6898.
Fri, Apr 11, 6-9 p.m.
Walkerton Tavern. Free.

Feathered Nests

For all ages. Have you ever slept on a feather bed or played a game using feathers? Benjamin Franklin used a feather to write with. Come try out these items and find out why the feather is a most useful object. Information: Anna Truong, 501-5520.Sun, Apr 13, noon-3:30 p.m.
Meadow Farm Museum. Free.

Sweetheart Ball for Mother and Son
For ages 3-5. Let the little man in your life experience his first dance with you! This is an opportunity for mothers and sons to have a special date night. There will be dinner, dancing, and entertainment - a real night on the town! Information: Janice Parker, 501-5809.
Fri, Apr 18, 6:30-8:30 p.m.
Confederate Hills Recreation Center.
$7.50 per person, registration required.

Scavenger Hunt
For ages 6-12. There are many treasures in Hidden Creek Park. Design a special pouch for scavenger items, then seek to unlock the mystery with the winning keys. Munch on pizza and snacks after the scavenger hunt. Information: Sheila Cunningham, 643-8302.
Fri, Apr 18, 4:30-6:30 p.m.
Hidden Creek Recreation Center. $7.50, registration required.

Earth Day Celebration
For all ages. Celebrate Earth Day at Three Lakes Park! The Division of Recreation and Parks is teaming up with the Virginia Department of Conservation and Recreation, Virginia Department of Environmental Quality, James River Advisory Commission, and our very own Keep Henrico Beautiful! Bring the family and enjoy live music performed by Susan Greenbaum. Activities and entertainment will include educational booths and displays, litter “pick-up” races, recycling games, the Henrico County Bookmobile, arts and crafts, games, face painting, and more. The Wildlife Center of Virginia will be on-site with live animals, and Ocean Encounters will give you hands-on fun with ocean critters. Three Lakes Nature Center will also feature hands-on activities as well as educational displays. Concessions will be available for purchase. Information: Jeannie Murray, 501-5121.
Sat, Apr 19, 1-4 p.m.
Three Lakes Park. Free.

Sheep to Shawl
For all ages. Meadow Farm is shearing its sheep and taking the wool through the entire process from sheep to shawl. Spinning, weaving, and natural dyes are all part of the process. Come try your hand at some of these activities and sign up to make a rag doll. Information: Anna Truong, 501-5520.
Sat, Apr 19, noon-4 p.m.
Meadow Farm Museum. Free.

Bluegrass Coffeehouse
For all ages. Bluegrass musicians of all ages and abilities: we invite you to Walkerton to play and share your music! Acoustic only. Children must be accompanied by an adult. Information: Cindy Rinker, 261-6898.
Fri, Apr 25, 7-9 p.m.
Walkerton Tavern. Free.
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— Pam M. Kempf County of Henrico, VA - Division of Recreation & Parks Community Relations, Marketing, & Publicity (804) 501-5149 kem@co.henrico.va.us www.co.henrico.va.us/rec

10 Best Places for House Bargains!

2008-03-01T04:04:00.003-05:00

The best place to get a bargain on a home is an area where there is healthy job growth and more houses available than people to buy them.These are markets “where you have high inventories but pliable borrowers, with lenders willing to deal,” says Anthony Sanders, a professor of finance at Arizona State University.Forbes magazine went looking for markets where the damage from risky lending hasn’t been as dramatic as in some parts of the country and where employment growth will burn off an over-abundance of inventory quickly.Here are what the magazine considers the 10 best cities for bargain house hunters.

1. Salt Lake City, Utah. Developers have gotten ahead of the demand, but the city is adding jobs more quickly than practically any place else in the country.

2. Raleigh, N.C. Another place where building got ahead of the curve, but the economy is expanding quickly.

3. Orlando, Fla. This part of the state had fewer speculators than Miami and Tampa, and it’s adding jobs faster than those cities as well.

4. Charlotte, N.C. The financial industry is moving here, adding jobs, but the inventory of unsold homes is still significant.

5. Phoenix. This city had a high foreclosure rate, but the economy is growing and people are still moving here in large numbers.

6. Seattle. The city’s port has profited from the weak dollar, but the housing price growth has slowed.

7. Las Vegas. This market was hit hard by foreclosures, but the growing economy makes the huge inventory less toxic than it is many places.

8. Jacksonville, Fla. The foreclosure rate is slower than the rest of the Florida cities, making the large inventory likely to improve.

9. Richmond, Va. There is only one foreclosure per 1,103 households here (compared to 1 in 33 in Detroit). Still, there are plenty of homes on the market.

10. Houston. Homes in Houston have long been a bargain. While there have been plenty of foreclosures, the population and the economy are expanding.

Source: Forbes, Matt Woolsey (02/07/08)

Mortgage rates Rise for Third Week in Row!

2008-03-01T01:49:00.002-05:00

Freddie Mac reports a jump in the 30-year fixed mortgage rate to a more than three-month high of 6.24 percent during the week ended Feb. 28. The previous week rates stood at 6.04 percent. The jump marked the third consecutive weekly increase.

Interest on 15-year fixed-rate mortgages climbed to 5.72 percent from 5.64 percent over the same period. Meanwhile, the five-year adjustable mortgage rate edged up to 5.43 percent from 5.37 percent. The one-year ARM shot up to 5.11 percent from 4.98 percent.

Richmond’s Private School Guide!

2008-03-01T01:11:00.003-05:00

All the private school information for the metro Richmond area you need is just one click away. Classified by zip code.

23002
Amelia Academy (PK-12) www.ameliaacademy.com
Love Covenant Christain School (K-12) 804-561-3750

23005
Hanover Academy (K-8) www.hanoveracademy.org

23039
Salem Christian School (PK3-12) www.salemchristainschool.com

23111
Liberty Christian School (PK3-6) www.libertychristianschool.org

23112
Millwood School (JK-8) www.milwoodschool.org

23115
Aylett Country Day School (PK-8) www.acdspatriots.net

23116
Atlee Christian Academy (PK-5) www.hanoverlife.com
New Hanover Christain School (5-8) www.nhpc.org

23139
Blessed Sacrament Huguenot (PS-12) www.blessedsacramenthuguenot.org

23220
Nubian Village Academy (PK-8) www.nubianvillageacademy.com
Orchard House School (5-8) www.orchardhouse.org
Richmond Preparatory Christian Academy (PK-8) www.richmondprep.org
St.Andrew’s School (K-5) www.st-andrews-school.org

23221
Benedictine High School (9-12) www.benedictinehighschool.org
Richmond Academy of Seventh Day Adventists (K-12) www.radsa.org
St. Benedict School (K-8) www.saintbenedictschool.org
St. Gertrude High School (9-12) www.saintgertrude.org

23222
All Saints Catholic School (PK-8) www.allsaintsric.com
Seven Hills School (5-8) www.7hillsschool.org

23223
Landmark Christian School (PK-12) www.landmarkbaptistrichmond.org

23224
All Saints Letsy Ann Memorial School (PK-3) 804-232-3159
Elijah House Academy (K-4) www.elijahhouseacademy.com
Southside Baptist Christian School (K-12) www.sbcscares.com

23225
Good Shepherd Episcopal School (PK-8) www.gses.org
IRQA Academy of Virginia (PK-7) www.iqrava.com
Richmond Waldorf School (K-8) www.richmondwaldorf.com
VERITAS Classical Christian School (K-10) www.veritasschool.com

23226
St. Bridget’s School (K-8) www.saintbridget.org
St. Catherine’s School (JK-12) www.st.catherines.org
St. Christopher’s School (JK-12) www.stchristophers.com

23227
Brook Road Academy (9-12) www.brookroadacademy.com
Luther Memorial School (PK-8) www.luthermemorial.com
Victory Christian School (K3-12) www.vca-edu.org

23228
Our Lady of Lourdes School (PK-8) www.ollric.com

23229
Collegiate School (K-12) www.collegiate-va.org
Grove Avenue Christian School (PK3-12) www.gabcs.org
Richmond Montessori School (PK-8) www.richmondmontessori.org
St. Mary’s School (PK-8) www.saintmary.org
West End Montessori School (PS-6) www.westendmontessori.com

23233
Academy of Academic Excellence (JK-3) www.academy-of-excellence.com

23235
St. Edward-Epiphany School (PK-8) www.seeschool.com
St. Michael’s Episcopal School (K-8) www.stmschool.net
Trinity Episcopal School (9-12) www.trinityes.org

23238
Rudlin Torah Academy (K-8) www.rudlin.org
The Steward School (K-12) www.stewardschool.org

23803
The Restoration Military Academy and Preparatory Academy (K-12) www.houserest.org
St. Joseph (PK-8) www.saintjosephschool.com

23805
RA Lewis Christian School (K-8) 804-732-4733

23832
Guardian Christian Academy (PS-8) www.gcakids.com
Richmond Christian School (PK4-12) www.richmondchristian.com

23834
Evangel Christian School (PK-12) www.evangelchristian.com

23838
Gill Grove Baptist School (PK-12) 804-590-1535

23860
Broadway Christian School (JK-12) 804-458-3750
West End Christian School (K3-12) www.wecs-hopewell.com

Click here for more information!

Real Estate assessments increase again in Richmond area!

2008-03-01T00:49:00.002-05:00

Over the past few weeks city and county assessors across the state have mailed out those little slips that say your home is worth more -- notices that mean you'd make money selling your home but that will almost certainly translate into higher real estate tax bills.

In the cities and counties around Richmond, assessments are up again, though not by as much as last year or the year before, a Richmond Times-Dispatch analysis of local assessment data shows.

That's because sales prices for metropolitan Richmond-area homes last year rose -- by an average of 5.8 percent -- to $281,139, according to the Virginia Association of Realtors.

(Source: inRich.com) Full Story!

Henrico county may end 'Richmond' addresses!

2008-02-29T21:44:00.003-05:00

The U.S. Postal Service will survey about 80,000 homes and businesses on whether Henrico should replace Richmond as the preferred address for 11 ZIP codes that fall totally or almost totally in the county.

The surveys will go out in May at the request of Henrico officials. They believe making Henrico a viable address will fix an old problem that misdirects an estimated $5 million in annual tax revenue to the city.

The survey was announced about a week ago, but it's more nuanced than initially described. If a majority of survey respondents approve of the switch:

Henrico would replace Richmond as the Postal Service's preferred address for ZIP codes 23075, 23228, 23229, 23231, 23233, 23238, 23242, 23250, 23255, 23288 and 23294.
Richmond would still be acceptable for those addresses, as would Highland Springs for ZIP code 23075, Page said.
Richmond would remain the preferred address for all properties in ZIP codes 23222, 23223, 23226, 23227 and 23230. However, Henrico would become an acceptable alternative -- one that county officials would encourage residents and businesses to use.
Glen Allen and Sandston addresses would not be affected.

When Should I Put My Home On The Market?

2008-02-29T15:58:00.004-05:00

There is no "best" time to sell per se. Selling a house depends on supply, demand and other economic factors. But the time of year in which you choose to sell can make a difference both in the amount of time it takes to sell your home and in the ultimate selling price.

Weather conditions are less of a consideration in more temperate climates, but most of the time, the real estate market picks up as early as February, with the strongest selling season usually lasting through May and June.

With the onset of summer, the market slows. July is often the slowest month for real estate sales due to a strong spring market putting possible upward pressure on interest rates. Also, many prospective homebuyers and their agents take vacations during mid-summer.

Following the summer slowdown, real estate sales activity tends to pick up for a second, although less vigorous, fall market, which usually lasts into November when the market slows again as buyers and sellers turn their attention to the holidays.

If this makes you wonder if you should take your home off the market for the holidays, consider the advice of veteran agents: You are always more likely to sell your house if it is available to show to prospective buyers continuously.

Would discovering the length of time it might take to sell your house help in your planning process?

As Realtor, I can easily obtain information from our Multiple Listing Service (MLS) showing average time on the market from the time a house was listed to when an offer is accepted. Another factor to consider is the time involved between when an offer is accepted and when the transaction actually closes.

We would be happy to schedule a time to provide any information we can that would make the selling of your home a hassle free transaction. Don't hesitate to email or phone us anytime!

Richmond Real Estate - Buy versus Rent!

2008-02-29T15:48:00.002-05:00

Nearly a full third of households are still renting...but if you are one of them, you could be paying a hefty price. Additionally, the children of the baby boomer generation are close to or at the home buying age, but these "echo boomers" could mistakenly decide to put off the purchase of a home because of all the noise about a "bubble" in home prices.

Is there a "bubble"? The simple answer is "no". Even if interest rates move a bit higher, it won't be enough to cause a nationwide slide in home prices. The key to a healthy housing market is the job market. If the payment on a new home might be slightly higher due to increased interest rates, it generally won't stop someone from purchasing the home of their dreams...but if they feel their job is in jeopardy, it might be enough to stop them from making a move. So with the currently low levels of unemployment and the beefy gains in job creation, it looks like the housing market will remain vibrant. Although it will be difficult to sustain the double-digit appreciation, perhaps closer to the historical 6-7% range, which is still very good.

It is important to note that housing tends to be localized. So if the job market in your area is weak, housing prices could under perform the rest of the country.

But this talk of a housing bubble has been going on for a few years now, and those who were unfortunately victimized by continuing to rent instead of purchasing a home are painfully mulling over their missed opportunity. But is it too late?

Let's look at an example. If you are paying rent at $1,500 per month and you landlord increases your rent by a modest 5% each year, you would wind up paying just about $100,000 over a 5-year period! Worse, after forking over $100,000, you still would have nothing to show for it.
And speaking of having nothing to show for it-how about any improvements you might make to rented property? It's uncommon for renters the freshen up the pain, install new light fixtures or plant flowers outside, but guess what...all your efforts, labor and the benefit of the improvement belongs to? Your Landlord, not you.

With an extensive variety of programs to help buyers obtain a mortgage with little to even zero down payment, the very same money could have been used towards home ownership. Even using a standard fixed program, a mortgage of $300,000 could be obtained with a total monthly mortgage payment - in property taxes and insurance - of around $2,200. Assuming a 25% tax bracket, this would be equivalent to the average amount spent on renting during the same period after your tax benefit.

And the benefits of home ownership are quite considerable. Because the mortgage is being paid down every month, equity is being built. After 5-years, the $300,000 mortgage would be reduced to $279,000, adding $21,000 to your net worth. Home appreciation can add an even bigger chunk. If your home appreciates a modest 5% per year, the value of a $300,000 would increase to $383,000 after 5-years. Subtracting the remaining mortgage of $279,000 and you have a whopping $104,000 of additional net worth! Even if the appreciation level were at 3.5% or half the historic norm, the result would be $77,000 of additional net worth.

But if laying out the initial increase in monthly payment and having to wait for your tax benefit to show up April is a tough nut to crack, the IRS wants to help. Instead of waiting to file for the tax benefits derived from your new home purchase, you can simply adjust the amount of your withholding. This allows you to have tax withheld from each paycheck so you can handle the new mortgage payment more comfortably throughout the year. In essence, you are taking your tax refund as you go instead of letting Uncle Sam hold it all interest free.

Visit www.irs.gov and use the IRs withholding calculator. This handy tool can quickly show you the change in withholding will do to your net paycheck.

Don't be victimized by the bubble hype. Buying a home is a big step, but it is almost always one in the right direction !

For additional local real estate information, information about me and my services, to request home listings by E-Mail, to request a market analysis on your current home, or to tour the MLS Listings please visit my web sites at www.RichmondVAHomes4Sale.com or www.e-RichmondHomes.com.

When's The Right Time To Buy?

2008-02-26T02:18:00.003-05:00

A big obstacle to purchasing a new home could be the sale of your existing home. The equity you have built in your current home could serve as a down payment on your next home.

If you currently own a home, I would be happy to provide a market valuation to help you realize the potential gain if you sell your home. All I would need is some basic information about your home to provide you with a price range. I would also be happy to briefly visit your home and provide a more detailed evaluation, if you wish.

If you are a first time buyer, there are several programs that can assist you including a first time buyer 95% loan program that's called "risk-share" or "3% down" program.

The following is an outstanding article by Duan Hymber, distributed by Inman News:

Should I Buy Now Or Wait To Save A Larger Down Payment?Coming up with enough cash for a down payment and closing costs can be a hurdle for many buyers, particularly first-time home buyers. But there are ways you can buy a home without much cash on hand.

For example, there is a new first-time home buyer 95 percent loan program. It's called the risk-share or 2 percent down program, and it lets you get into a house with only 2 percent cash down. The additional 3 percent cash can be a personal loan from your credit union or a relative. This 3 percent personal loan must be a fully-amortized fixed-interest rate loan with a five-year due date. An amortized loan is paid off in full during the term of the loan (five years in this case).

Many first-time buyer programs will only give loans to borrowers whose income is below a certain level. That level is often so low that many first-timers with high incomes can't qualify. One benefit of the 2 percent down program is that it's available to borrowers with annual incomes up to $80,000.

If you have any question about buying or selling property, don't hesitate to call or email Mohamed!

Mortgage Rates Falling Hitting Four Year Low!

2008-01-31T19:19:00.000-05:00

Mortgage interest rates for the week ended January 24 continued to fall and long term rates hit their lowest levels since the spring of 2004 according to the results of Freddie Mac's Primary Mortgage Market Survey for the week ended January 24, 2008.
Mortgage application volume increased 7.5 percent on a seasonally adjusted basis from a week earlier and 10.5 percent on an unadjusted basis.

For additional local real estate information, information about me and my services, to request home listings by E-Mail, to request a market analysis on your current home, or to tour the MLS Listings please visit my web sites at http://www.RichmondVAHomes4Sale.com or http://www.e-richmondhomes.com/.

The Benefits of Home Ownership

2008-01-31T19:13:00.000-05:00

Here are just some of the financial/tax advantages of home ownership:

Owning versus renting is an investment in your family’s future.
Seeing the break-even point on an adjustable rate mortgage.
Deduction of qualified interest & property taxes from the income on a first or second home.
Avoiding the payment of capital gains tax if selling your home (must have lived 2 out of the last 5 years in your home to qualify).
Investing in real estate is still one of the best proven growth investments.

For additional local real estate information, information about me and my services, to request home listings by E-Mail, to request a market analysis on your current home, or to tour the MLS Listings please visit my web sites at http://www.RichmondVAHomes4Sale.com or http://www.e-richmondhomes.com/.

Local Agent Earns REALTOR e-PRO® Certification

2008-01-28T05:21:00.001-05:00

(Dateline) -- (Your Name) of (Your Company) has successfully completed the REALTOR e-PRO course to become one of a select few real estate professionals to earn the prestigious certification offered through the National Association of REALTORS.®

The REALTOR e-PROÒ certification course is an educational program unlike any other professional certification or designation course available, comprehensive and interactive. It is specifically designed to provide real estate professionals with the technology tools needed to assist consumers in the purchase or sale of a home.

With more than 70% of consumers beginning their real estate research on the Internet, e-PRO certified agents have the experience and expertise to meet the demands of today’s buyer and seller.

“The real estate industry has undergone a fundamental change over the past several years,” said (Your Name) of (Your Organization). “A majority of consumers are taking the time to conduct their own research prior to contacting an agent. In turn, real estate professionals must be knowledgeable of how technology can assist them in serving the needs of the buying and selling public.”

The exclusive REALTOR e-PROÒ certification course is presented entirely online and certifies real estate agents and brokers as Internet professionals. Because of its innovative design, students are able to complete the course at their own pace, when and where they want, via any Internet connection. The course is designed to help REALTORSÒ stay at the leading edge of technology and identify, evaluate and implement new Internet business models.

Once completed, the e-PRO certified real estate professional joins the ranks of a special community of highly skilled and continuously trained professionals who provide high quality and innovative online-based real estate services. Consumers can identify the e-PRO through the exclusive e-PRO Internet Professional logo.

Both the content and the delivery platform were created by San Diego-based technology company InternetCrusade®. The course instructs participants in the professional use of e-mail, the development of an interactive Web site, and the use of online research tools. Graduates use the skills they've acquired to provide clients information on properties for sale, local communities, and the local real estate market.

For more information, e-mail (Your Name) at (Your e-mail) or call (Your Phone Number.)

Why Use an e-PRO?

2008-01-28T01:52:00.001-05:00

An e-PRO is a REALTOR® who has successfully completed the e-PRO training program for real estate professionals. Endorsed by the National Association of REALTORS®, the e-PRO course teaches professionals the nuts and bolts of working with real estate on-line: Web sites, e-mail, on-line tools, and most of all, what today's consumer really wants.

We utilizes the latest technology tools to make your life easier, protect your privacy and sell or buy your home in the most efficient manner. Our sellers benefit with a web-page devoted just to their listing on our own site, as well as listings on national real estate sites like http://realtor.com/, http://google.com/, http://richmondvahomes4sale.com/ and much more websites. We use virtual tours, professional digital photos and on-line floor plans for our listings. We provide a unique CD for our listings including multimedia presentations about your home, high-quality pdf-format brochures and links to our on-line resources. Giving out a CD lasts while most brochures end up in the trash. We keep you updated on market information by e-mail. You'll know what homes are on the market and how well they're selling and why. We use e-mail for communicating information about your home to the top REALTORS in Richmond, nationally and internationally if appropriate.

Our buyers benefit with immediate notifications of homes that meet their criteria. They receive e-mail listings with photos, maps and tax information to help finetune their search criteria before even stepping foot in a home. They benefit from our nationwide referral network so no matter where they are buying, we can assure their REALTOR is equipped with the latest tools to make the process easy. Information is power, and with our technology skills, our buyers receive neighborhood demographics, market information and all the latest updates for the area by just opening their e-mail. With pdas, portables, gps devices, your home tour is flawless.

Should you use an e-PRO? Yes, especially if you're an internet user. Should you use Mohamed as your preferred e-PRO in Richmond? Definitely, you will get the service that you want and need.

Tips for Buying a Fixer-Upper!

2008-01-28T00:42:00.000-05:00

Buying a "fixer-upper" can be a great way to earn sweat equity, but it also can turn into nightmare, end up costing you later on.
What are the rules to follow to find the right property to fix up or flip? Buy a house at least 30% below market value, so that you have profit left over after spending the money to fix it. Location is still very important- no matter how you fix up the interior, you still can't change the location. Go for the more popular 3-4 bedroom home, more buyers are looking for this size. Take your time to find the right property to flip and call me when you're ready to start looking for one!

A recent Realtor Magazine article helps sort out the rules of Fixer-upper.

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 Virginia

The way to a successful closing!

2008-01-25T23:14:00.000-05:00

As real estate professionals, we handle pricing, marketing, and negotiating. Once the purchase and sale agreements have been signed, there are several steps to take to get the transaction closed:

Step 1 - Removing contingencies: The most common contingencies are financing, inspections and the sale of the buyer's current home. These conditions must be removed or waived before the sale can close.

Step 2 - Appraising the property: The buyer's lender requires a formal appraisal to confirm the value of the home, to be used as collateral to secure the loan.

Step 3 - Preparing closing documents: Most often real estate attorneys prepare documents that confirm the transaction, pro-rate funds, and so on.

Step 4 - Signing closing documents.

Step 5 - Turning over the keys to the buyer, and welcoming the moving van.

Step 6 - Recording the deed and disbursing funds.

There are many opportunities for surprises or delays in a transaction. Part of Mohamed's expertise is in troubleshooting problems that arise in the closing process and communication. Please email or call us if you have any questions or you would like more information.

Are You Thinking About Selling? Not All Realtors and Marketing Plans Are the Same!

2008-01-25T22:19:00.000-05:00

In this market you need to use as many effective marketing tools as possible to compete with the other listings in your area. I am absolutely passionate about marketing and am constantly evaluating and improving my techniques!
You will see based on the strategies listed in my Marketing Plan that I am an aggressive marketer and very detail oriented. But I’d like you to know that I feel that communication and good customer service are equally important! I will make every effort to make sure you are 100% satisfied with the service I provide.

Phase 1: PREPARATION

I will prepare a Highest Price Analysis to assist you in correctly pricing your home.
I will estimate your net proceeds from the transaction.
I will conduct a thorough walk through of your home; taking measurements, noting amenities, and giving staging advice.
I will provide a lock box to ensure easy access by Realtors® with qualified buyers.
I will take several digital photographs of the interior and exterior of your home.

Phase 2: AGRESSIVE MARKETING TECHNIQUES

This is the fun part! Marketing is a passion of mine, so I am always working hard to find new ways to set your listing apart from the competition!

I will install the distinctive RE/MAX sign, property brochure box and directional signs to lead people to home.
I will submit complete and accurate details regarding your listing to the MLS reaching thousands of realtors every day.
I will create and distribute a full color property brochure especially for your listing.
I will create aVirtual Tour especially for your listing, and link it to my web site.
I will send out an Email Blast of your Virtual Tour to over 5000 Realtors in the Richmond Metro area.
Internet exposure is key! Your listing and Virtual Tour will be advertised on the following top internet sites (and hundred's more!)
Realtor.com - Remax.com - Google.com - Yahoo.com - E-RichmondHomes.com
Just listed brochures and post cards will be distributed to Realtors, as well as current and past clients.
I will create a bound, full color property information book for display at your listing with extensive information for potential buyers (schools, area information, specific details about the house, etc).
I will create Special Feature Cards to highlight the special features of your listing that a buyer might not notice during showings.
I will schedule and host a Sunday Afternoon Open House.

Coming soon! Television commercial advertising!

And much much more techniques of aggressive Marketing that I will use to get your home sold quickly for the highest possible price!

Phase 3: COMMUNICATION DURING YOUR LISTNG

During your listing constant review and attention to detail is required to effectively market your property and protect your position.I will constantly monitor your listing until the day it closes! Communication is the key! You will hear from me a minimum of once per week, if not more often. I am dedicated to personally providing the highest level of service to each of my clients every day until their home is sold!

I will provide you with a copy of your MLS listing details for your review.
I will keep you informed, at least once per week, or as many as you want me to communicate with you.
I will be available by cell phone and promptly return your call if you must leave a message.
I will follow up with every agent who shows your home to provide you with up-to-the-minute feedback about price, condition, location, and potential buyer interest.
I will handle inquiries regarding the home, qualify interested parties, and pursue showing appointments with qualified buyers.
I will work with the buyer’s agent, and their inspector to negotiate any objections raised by the inspection of the property.
I will assist the title company in setting the closing and obtaining all information needed for the completion of the paperwork.
I will carefully explain to you all documents that you will be required to sign, and provide you with copies each document.
I facilitate your closing and handle last minutes issues.

In the end, it's all about results. Mohamed will turn FOR SALE into SOLD!
To learn how Mohamed will specifically create your Custom Marketing Plan, contact them today to schedule a listing presentation.

Home Improvements That Yield A Return!

2008-01-25T22:12:00.000-05:00

In 2006, consumers spent $103 billion on home improvements. Several studies have been done about which home improvements provide the best return:

* Remodeling the kitchen and/or baths is one of the best ways to add value.

* On average, homeowners recoup 88% of the cost of remodeling the kitchen and 82% of remodeling the bath.* Adding a room or garage is an expensive improvement that can pay off if it is carefully designed. * Decks and patios can add value, depending on the part of the country.

* Landscaping often adds appeal, but not necessarily value.
Remember, home improvements usually take longer and can cost more money than you anticipate. Please feel free to contact us if we can help you. We would be happy to come by and discuss any improvements you are considering.

If you know of anyone who is considering home improvements and would benefit from free, helpful advice and suggestions, we would love to help. Just forward their name and phone number and we'll follow up with them promptly and provide them with the same quality service you have come to expect from Mohamed.

Richmond area lifts mandatory water restrictions

2008-01-19T07:49:00.000-05:00

The Richmond area has lifted mandatory water restrictions that limited when residents could water their lawns and wash their vehicles.
The region ended the restrictions on Monday because the water level in the James River has risen to three times the minimum flow required under a regional management plan for the river.
The restrictions ended immediately in Richmond and the counties of Henrico, Chesterfield, Hanover and Goochland. The restrictions had been in place for three months ago.

For additional local real estate information, information about me and my services, to request home listings by E-Mail, to request a market analysis on your current home, or to tour the MLS Listings please visit my web sites at http://www.RichmondVAHomes4Sale.com or http://www.e-richmondhomes.com/.

Books-A-Million as part of the West Broad Village!

2008-01-19T07:42:00.000-05:00

Books-A-Million, Inc. announced today that it will soon be bringing its tradition of selling great books at low prices to Richmond, Virginia. The company is opening a location in the West Broad Village, which is managed and developed by Unicorp National Development.
“We are thrilled to have Books-A-Million as part of the West Broad Village development,” said Chuck Whittall, owner of West Broad Village. “They will be a huge asset to the other retailers and restaurants of West Broad Village and we believe Books-A-Million will become a gathering place within this community of over 1,800 on-site residents, the on-site hotel guests, and the overall Short Pump communities.”
Books-A-Million selected the West Broad location based on its knowledge of this growing market, having operated in the Richmond area since 1991. Books-A-Million has 19 other locations in Virginia.

For additional local real estate information, information about me and my services, to request home listings by E-Mail, to request a market analysis on your current home, or to tour the MLS Listings please visit my web sites at http://www.RichmondVAHomes4Sale.com or http://www.e-richmondhomes.com/.

A&N closing 48 Virginia stores

2008-01-19T07:36:00.000-05:00

All 48 A&N stores, including locations in Waynesboro and Staunton, are closing.
The Henrico County-based retailer of athletic footwear and sportswear cites increasing competition, sluggish sales and mounting losses for its decision. A liquidation sale began Friday.The family-owned company had pursued other alternatives, including selling the athletic footwear and sportswear chain.

For additional local real estate information, information about me and my services, to request home listings by E-Mail, to request a market analysis on your current home, or to tour the MLS Listings please visit my web sites at http://www.RichmondVAHomes4Sale.com or http://www.e-richmondhomes.com/.

Why Use a Realtor® ?

2008-01-18T11:36:00.000-05:00

When you have decided to buy or sell real estate, the services of a qualified real estate professional are of utmost importance.

I have a good working knowledge of local real estate market conditions, am prepared to deliver a high standard of service to customers, and I have the support of a large real estate company. Most importantly, I will save you time and money.

Here are the advantages of working with me:

When buying a house:

I am an experienced negotiator who will manage your offers and counter-offers.

I am familiar with the neighbourhood and can give you information on local real estate values, taxes, utility costs, services and amenities.

I am familiar with the entire real estate purchasing process and can advise you of your legal and financial options as well as recommend appraisal, home inspection and contracting services.

I can pinpoint property that fits your needs and dismiss those that do not, saving you time.

I know the potential problem areas in a home/neighbourhood and can guide you away from "lemons."

When selling a house:

I know real estate values in your neighbourhood and will help set an agreeable and competitive price on your property.

I will establish a marketing strategy for your property ensuring that it is exposed to scores of potential buyers.

I take care of the many tasks involved in selling property (from placing your listing to putting up the for sale sign). This ensures that the transaction is simple and low-stress for you.

I am an expert in the real estate selling process and as such will advise you of your rights, options and obligations.

I am an experienced negotiator and will work for to get you the best price possible price.

A qualified, competent real estate agent will help you navigate the myriad of decisions that arise when buying and selling a home. An agent provides value to the homeowner in many ways:

Pays for all marketing and advertising costs.

Adds experience and expertise in all aspects of the sales process including marketing, financing, negotiations and more.

Handles all showings.

Brings a network of known, trusted real estate professionals. If your agent doesn't have the answer, he or she likely knows someone who does.

Always has your interests in mind so you always have someone on your side.

Can handle and advise on all price and contract negotiations.

Provides you with all the possible options and opportunities without holding back.

Gives an unbiased, realistic view of your home and your options. Unlike buyers and sellers, an agent has no emotional attachment to property.

Has the knowledge to help you ask the right questions.

Being a third party, potential buyers are more likely to tell your agent the truth about your home, even if it is unflattering. This objective viewpoint will help you make the necessary changes to get your home sold.

Your time is valuable. A real estate agent allows you to spend your time how you want.

For additional local real estate information, information about me and my services, to request home listings by E-Mail, to request a market analysis on your current home, or to tour the MLS Listings please visit my web sites at http://www.RichmondVAHomes4Sale.com or http://www.e-richmondhomes.com/.

CMA! what and why?

2008-01-17T15:16:00.000-05:00

CMA is real estate shorthand for "Comparative Market Analysis." A CMA is a report prepared by a real estate agent providing data comparing your property to similar properties in the marketplace.

The first thing an agent will need to do to provide you with a CMA is to inspect your property. Generally, this inspection won't be overly detailed (she or he is not going to crawl under the house to examine the foundation), nor does the house need to be totally cleaned up and ready for an open house. It should be in such a condition that the agent will be able to make an accurate assessment of its condition and worth. If you plan to make changes before selling, inform the agent at this time.

The next step is for the agent to obtain data on comparable properties. This data is usually available through MLS (Multiple Listing Service), but a qualified agent will also know of properties that are on the market or have sold without being part of the MLS. This will give the agent an idea how much your property is worth in the current market. Please note that the

CMA is not an appraisal. An appraisal must be performed by a licensed appraiser.
The CMA process takes place before your home is listed for sale. This is a good assessment of what your house could potentially sell for.

CMAs are not only for prospective sellers. Buyers should consider requesting a CMA for properties they are seriously looking at to determine whether the asking price is a true reflection of the current market. Owners who are upgrading or remodeling can benefit from a CMA when it's used to see if the intended changes will "over-improve" their property compared to others in the neighborhood.

Click here if you would like a free CMA.
For other helpful seller information click here.
For other helpful buyer information click here.

Richmond Real Estate - Market Conditions!

2008-01-17T14:44:00.000-05:00

As a homeowner it is important to understand the market conditions in your neighborhood. One way to stay informed is to check the recent sold prices in your area. In the past, this information has only been available to real estate professionals.

I believe it is vital for homeowners to have all of the information available in order to make good decisions about their real estate investments.

So go ahead! Find out what the neighbor's home sold for! Use my Instant Home Sales Report to find out the recent sold prices near your address!

Then, stay informed! Sign up for my Free Neighborhood Newsletter to receive recent sold prices near your address automatically each month!

CONTACT ME for assistance with RICHMOND REAL ESTATE

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 Virginia

Richmond Realtor - Real estate question and answer!

2008-01-17T14:37:00.000-05:00

Q: How much does it cost me to have a Realtor help me find a home?

A : Realtor Fees: Realtors are paid by commission only . A Realtor's services should be at NO COST to you as a HOME BUYER . When a Home owner chooses a Realtor to SELL their home, they negotiate a commission to be paid to the listing Realtor. A portion of that commission is made available to the licensed Realtor that finds a qualified Buyer for that property. This ensures that all home buyers, regardless of being a first time buyer, or an experienced investor have the benefit of a licensed real estate professional. If a Realtor tells you that there is a charge to you as a Buyer, for their services, you may want to shop around. The only exception to this might be if your home search is extended over an extremely long period of time, or if your Realtor is racking up hundreds of miles driving you to search for homes day after day after day. You wouldn't go to court without an attorney to represent you, so why would you make one of the largest investments in your life without consulting a professional. Never again will something so free, save you so much in the long run. Good Luck Home Buyer.
ASK YOUR QUESTIONS HERE

CONTACT ME for assistance with RICHMOND REAL ESTATE

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 Virginia

Richmond Virginia Calendar of Events!

2008-01-17T12:40:00.000-05:00

Jakob A. Finci Lecture: Genocide, Ethnic Cleansing, and Reconciliation
Virginia Holocaust Museum January 17, 2008 Jakob A. Finci Lecture: Genocide, Ethnic Cleansing, and Reconciliation Sixty Years of Life and Death in Bosnia - 5:30-6:00 Reception, 6:00-7:00 Program - FREE- In partnership with the Council for America's First Freedom, Jewish Community Federation of Richmond and the World Affairs Council of Greater Richmond, Jakob Finci's will offer a unique perspective as President of Bosnia's Jewish Community as he reflects not only on the historical realities of hatred and violence, but also on the reconciliation to which he contributed so significantly during Bosnia's civil war.

53rd Annual Virginia Boat Show
Showplace Exhibition Center, The January 18, 2008 - January 20, 2008 All types of power boats will be displayed. Exhibitors representing marinas, marine electronics, wake boards, and more will also have displays. Friday noon to 8 p.m.; Saturday 10 am. to 8 p.m. and Sunday 11 a.m. to 5 p.m. Adults $6; ages 6-16 $2; children under 6 are free.

Richmond Volleyball Club- Monument City Classic
Greater Richmond Convention Center/Global Spectrum January 18, 2008 - January 21, 2008 The Largest Volleyball Tournament in Virginia Under One Roof- Welcome to the fourth annual Monument City Classic. The tournament will still be held in the Greater Richmond Convention Center. Open / Club Divisions for the 14's - 18's are now offered. New for this year, a 12's division that will play Saturday and Sunday (January 19 and 20). There will be twenty four teams accepted in the 14 / 15/ 16 /17/ 18 and under divisions and sixteen teams in the 12 and under division.

Elsbeary Hobbs' Drifters
The Cultural Arts Center at Glen Allen January 19, 2008 Few other vocal groups have had as much artistic and commercial success as The Drifters, one of the biggest selling groups of all time. The legendary Elsbeary Hobbs, best known for his unique, deep, bass voice, performed some of the greatest Drifters' hits. Today, Hobbs' wife, Odessa, has united many of her late husband's former band members as the Elsbeary Hobbs' Drifters to commemorate much of the great material. $35 all ages.

Kriegspiel: War Games
The Museum of the Confederacy January 19, 2008 10:00 a.m. -4:00 p.m. Cost: $20 for members, $25 for non-members, lunch included, Ages 12 to Adult Celebrating Jefferson Davis's 200th birthday and his tenure as Commander in Chief of the Confederate States of America, the MOC will be conducting our popular war games throughout the year. MOC staff will teach the basic strategies of war and then split the into teams for competition. To register please call 804-649-1861 x. 32 or visit http://www.moc.org/.

International Equine Business Alliance
Greater Richmond Convention Center/Global Spectrum January 22, 2008 - January 28, 2008 Projected attendance 2,000. With more than 385 booths already, IEBA Expo is the largest exhibition in the East, with the leading manufacturers placing their largest booths and greatest customer/buyer emphasis in Richmond.

U.S Figure Skating- Eastern Sectional The Richmond Coliseum January 23, 2008

Lecture: Skeletons on the Zahara by Dean King
Virginia Historical Society, 428 N. Boulevard, Richmond January 24, 2008 In 1815 the American sailing ship Commerce ran aground on the northwestern shore of Africa. In his prize-winning book, Skeletons on the Zahara, Dean King recounts the misfortunes of the shipwrecked crew. They were captured by Arab slave traders and marched across the desert, subjected to heat, starvation, and cruelty. At last the survivors made it back to the coast where they were ransomed and freed. Lecture is free with VHS admission.

Capital Ale House Karneval Celebration
Capital Ale House Downtown Music Hall January 25, 2008 - February 05, 2008 Karneval is a festival season that starts 12 days after Christmas. The main events are usually during February just prior to the Lenten season. It involves public celebrations combining some elements of a circus and public street party where people often dress up or masquerade during the celebrations. Everyone is familiar with the United States' Mardi Gras festivities but it is celebrated around the world. Brazil is famous for it Carnival in Rio

Adrian Cronauer Lecture
Virginia War Memorial January 31, 2008 7:00 pm - Free and open to the public 200 seat auditorium The well-known film, GOOD MORNING, VIETNAM, chronicled the life of Adrian Cronauer during his tour of duty in Vietnam as a radio DJ. Come to the Memorial to hear Mr. Cronauer tell his personal story and describe his work searching for MIA's worldwide.

Virginia Youth Soccer Association- Coaches Workshop
Richmond Marriott Hotel January 31, 2008 - February 03, 2008 Each year VYSA invites many presenters from across the country and from other countries to share their knowledge and experience in soccer to help our members better serve their players, coaches and administrators. Coaches, Administrators, Boards of Directors, Referees, Parents and Volunteers are all encouraged to attend and learn from the best on a variety of topics related to youth soccer. Keep watching this web site for updates as we plan this years event.

For additional local real estate information, information about me and my services, to request home listings by E-Mail, to request a market analysis on your current home, or to tour the MLS Listings please visit my web sites at http://www.RichmondVAHomes4Sale.com or http://www.e-richmondhomes.com/.

The first quarter - Richmond events

2008-01-17T12:38:00.000-05:00

January
Art After Hours - Be a part of one of the coolest ways to visit the Virginia Museum of Fine Arts. Enjoy weekly live music and poetry readings while enjoying beer and wine on Thursday evenings in January and February. The fun continues from March through December with Third Thursdays, the museum's monthly cultural event.

Kids Carniball - Bring the kids to sample international food and music while celebrating culture and traditions from other countries at the Children's Museum of Richmond. Featured countries change each year, with 2005's event celebrating China and 2006 focusing on Greece.

February
Maymont Flower and Garden Show - Start planning your spring planting with landscape exhibits, lectures and a marketplace of fresh items and ideas at this garden lover's paradise.

March
CAA Men's Basketball Championship - It's only the beginning of March Madness when the Colonial Athletic Association schools battle it out for the division title and a spot in the field of 65. Be sure to cheer on the Richmond Region's own Virginia Commonwealth University Rams.

Church Hill Irish Festival - Irish musicians, bagpipers, dancers and more descend on the Region's Church Hill neighborhood for this annual weekend-after-St.-Patrick's-Day event.

Ashland Variety Show - Randolph-Macon College hosts this bi-annual musical variety show with singers and dancers of all ages.

For additional local real estate information, information about me and my services, to request home listings by E-Mail, to request a market analysis on your current home, or to tour the MLS Listings please visit my web sites at http://www.RichmondVAHomes4Sale.com or http://www.e-richmondhomes.com/.

Historic Richmond Virginia..easy to Love!

2008-01-17T12:29:00.000-05:00

Richmond, VA was visited in 1607 by Captains Christopher Newport and John Smith. In 1737 William Byrd II named the city Richmond because the bend in the James River is similar to that of the Thames in Richmond, England. Here you'll find more than 400 years of history including the second successful English settlement, the site of Patrick Henry's famous "Give me liberty or give me death" speech and the former capital of the Confederacy. The Richmond Region is also an area of firsts. From the first American hospital and first U.S. canal system to the nation's first African American governor and the South's first television station, we're continuing to make our mark.

But Virginia's Richmond Region isn't just about history. We have upscale shopping, fabulous restaurants, heart-pounding sporting events, world-renowned museums, vibrant culture, elegant homes and gardens and family fun for everyone. See the only Class IV rapids in an urban U.S. setting, view the largest collection of Faberge objects outside of Russia, or tour the nation's only historic designated avenue - the choices are limitless.

More than 5 million visitors come to the Region each year. We hope you'll be one of them. Stay for a while and see why the Richmond Region is easy to love.

For additional local real estate information, information about me and my services, to request home listings by E-Mail, to request a market analysis on your current home, or to tour the MLS Listings please visit my web sites at http://www.RichmondVAHomes4Sale.com or http://www.e-richmondhomes.com/.

Effective Pricing Leads To A Sold Sign On Your Property!

2008-01-15T12:09:00.000-05:00

According to a recent report from the National Association of Realtors, almost 80% of home buyers surf the Web to begin their home search. That means home buyers are well aware of what properties are available on the market and the prices they are selling for. Therefore, now more than ever, pricing is the key to selling your home.

Some sellers think that a higher price will give them some negotiating room. But in fact many buyers don't even look at a property that is overpriced, much less make an offer on it.

This can lead to the property's becoming "shop-worn." Buyers often inquire about the length of time a property has been on the market. If it has been on the market a long time, they wonder if there is something wrong with it. The sellers then have to drop the price, taking less than they might have if they had priced it correctly to begin with.

Homes that are well-priced attract the buyers in their price range. The buyer's perception is that the home is a good buy, and then the seller is positioned to receive the listing price or close to it.

Please feel free to call or e-mail Mohamed 804-243-0605 info@e-RichmondHomes.com if you have any pricing or general real estate questions. We would be happy to provide you with a free market evaluation on your home to ensure it is competitively priced in the marketplace so you will receive the best offer.