"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.
Sunday, June 22, 2008
How to Obtain Top Dollar for Your Home!
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!
* 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!
Wednesday, May 21, 2008
Five Local High Schools Make Newsweek List Of Top 1300 In U.S.
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 . . .
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 . . .
Monday, May 19, 2008
Richmond Virginia Real Estate - Good time or bad time?
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.
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!
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.
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!
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!
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!
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!
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!
Saturday, May 17, 2008
Friday, May 9, 2008
FREE Foreclosure Listings in Richmond, Virginia - REO listings in Richmond!
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
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
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