Thursday, October 21, 2010
Wednesday, October 6, 2010
Who are the Real Estate Experts?
These days with the unique nature of our housing market it sometimes feels presumptuous to proclaim to be an expert in anything related to real estate. Our business of buying and selling homes is so kinetic, with a fluidity that is constantly changing and evolving, that it requires vigilant, almost daily monitoring in order to truly be called REALTOR®.
Many people don’t realize that every licensed real estate agent cannot legally use the term “realtor” in order to identify themselves. Over the years that term has often been universally used to refer to any person selling real property. And while all licensees are required to take continuing education classes mandated by their state licensing board, Realtors are generally required to have additional training that extends to conduct, ethics and consumer protection, and who are members of the National Association of Realtors (NAR).
But the idea of being a real estate professional implies so much more than being educated and trained to transact property. There are certain traditions that are universal to people in sales, but in real estate, perhaps more than in most other sales positions, it is also the ability to communicate and maintain relationships that determines who the real experts are. Probably because of the very personal nature of our homes, real estate agents often become entrenched with the people they are entrusted to help find their next place to live, and grow, and love.
The true real estate experts are the ones you as the consumer trusts; the one who will listen to you, will put your needs first, is experienced and knowledgeable in your market, and who conducts themselves in an ethical manner. Don’t stop searching until you find the expert meeting your strict criteria.
Ann & John VanderSyde – Virginia Properties 2009 Sales Team of the Year. (804) 282-7300
Wednesday, September 22, 2010
Who Is Saying It is Time To Buy a Home? EVERYONE!
"Enough with the doom and gloom about homeownership." - WSJ 9/16/2010
WOW! If that quote was attributed to the National Association of Realtors or the National Association of Home Builders, it would have been quickly dismissed. However, it was the Wall Street Journal that was calling for the end of the ‘doom and gloom' talk surrounding real estate.
We are finally seeing a powerful backlash to all the recent claims that homeownership should never have been part of the American Dream. It is about time!
The WSJ has been posting on the financial advantages and the other non-financial benefits of homeownership for over a year. "We must admit that, at times, we felt very lonely. It now seems that we are part of an ever growing army of believers preaching the advantages and opportunities available in today's real estate market. Who have joined this cause? Let's name a few."
The Nation's Real Estate Pricing Expert
Karl E. Case is a professor emeritus of economics at Wellesley. Professor Case is also co-creator of Standard & Poor's Case-Shiller House Price Index and is recognized as the one of the foremost authorities on real estate today. In a New York Times op-ed piece earlier this month titled, A Dream House After All, he said:
"I have never quite understood what the American dream really means when it comes to housing. For some people, it means having a solid and fairly safe long-term investment that is coupled with the satisfaction of owning the house they live in. That dream is still alive."
"Others, however, think the American dream is owning property that appreciates by 30 percent a year, making a house into a vehicle for paying bills. But those kinds of dreams have become nightmares for the millions of foreclosed property owners who have found themselves sliding toward bankruptcy."
But for people with a more realistic version of the American dream, buying a house now can make a lot of sense.
The Wealthy
The only segments of the housing market that are showing sales growth are the price points over $1 million. That market is up 6.1 % in the second quarter of this year vs. the second quarter last year. A recent survey showed that over 30% affluent buyers are planning to either build/buy a new primary residence or a second/vacation home in the next twelve months. It appears the wealthy believe now is the time to buy!
Everybody Else
Fannie Mae just released their National Housing Survey. The survey reported:
• 82% of respondents consider homeownership important to the economy, up two points from January.
• 70% of respondents think it is a good time to buy a house (of which 36% think it is a very good time to buy), up six points from January. This is also four points higher than the 2003 survey - well before home prices peaked - when 66 % said it was a good time.
Bottom Line
Our iconic financial newspaper, our nation's real estate pricing expert, the wealthiest people in the country and 70% of everyone else think now is the time to buy a home. It probably makes sense to listen to them.
Monday, September 20, 2010
The Fall Harvest Applies to Housing too
Mark your Calendars! According to the U.S. Naval Observatory, autumn begins on September 22 at 11:09 PM EDT; it’s just about official, summer 2010 is over. The Autumnal equinox is coming, and you can feel it in the onset of that brisk autumn air, as well as with the number of home sales hitting the streets!
September marks the official kick-off of the fall real estate market, and in Richmond, Virginia we are beginning to see the signs of the new housing inventory offering purchasers and sellers a second chance to reap the benefits of the second gathering. Like the change of seasons influencing harvest time, these annual cycles also influence home sales. September, October and into November is the second hottest time of year to buy and sell following the robust and often frenzied spring housing market.
Historically, the Autumnal Equinox becomes synonymous with not only the completion of the harvest, but also the end of summer. The full moon associated with the fall equinox is known as the Harvest Moon and sometimes as the "Wine Moon" because this is also the time of year when grapes are harvested and the process of making wine begins. In past times, many farmers would harvest their crops by the full moon, using the light from the moon to extend their gathering time. This final gathering of the crops and the beginning of preparations for the long winter that lay ahead marked a time of thanksgiving for all that Nature has given her children and for the completion of another turn of the Great Wheel of life. Although the Autumnal Equinox falls in September and not November, the connection to the harvest and the fall highlight similarities to our modern Thanksgiving.
If is interesting to see how these seasonal cycles are often mirrored in our modern lives. The change of seasons that influence our life styles and purchasing trends today are somewhat similar to the way we all used to live when the change of seasons actually dictated how we live. It makes one wonder if the two are somehow linked?
For more info about the Autumnal Equinox: The time of year when night and day are of equal length in all parts of the Earth is known as the “equinox”. The word equinox comes from a Latin words meaning "equal night." Autumnal equinox is the beginning of autumn. It occurs on September 22nd or 23rd.
If you are interested in exploring more, here are some sites with more detailed explanations of the equinox:
http://scienceworld.wolfram.com/astronomy/AutumnalEquinox.html
http://earthsky.org/astronomy-essentials/everything-you-need-to-know-about-the-autumnal-equinox-of-2010
http://www.infoplease.com/spot/equinox1.html
Thursday, September 9, 2010
Richmond’s Small Town Charm Offers Hope & Optimism
Ann and I just went over to the Libbie Market to grab a quick bite to take back to the office. The wonderful thing about Richmond is the fact that almost anywhere you go you are all but certain to run into someone you know. Well today is no exception. We ran into a friend of mine from college. She owns and manages a small placement firm that specializes in finding work for mostly mothers that have so much to contribute to the work force, but also wish to manage their families in addition to generating an income.
The almost unexpected thing came out of our conversation when I asked how her business has been. She, by the way, has adorable twin boys that you can imagine demand much of her attention. Regardless, she said business has been amazingly good. She continued to say that the number of people she places has been great, and, here is the really wonderful news, that the number of companies contacting her for help has also increased this summer.
After all the negativity and hesitance I get when asking “how’s business”, I was momentarily shocked by her response. Then delight and confidence seem to fill up inside me as if to say, “see, there are good things happening in the work force today; I wonder why we don’t hear more stories like this one from our media outlets?”
I like getting the good news and spreading the word about good fortune and hope. It makes me feel good, and I like feeling good. Hopefully this will inspire you have a great day and pass on your good news to others, increase your productivity, and improve your business. Who knows, this small town might just start a trend that proves a positive approach to living can jump-start our economy. I’m firmly committed to it, how about you?
Follow up Post - Low Interest Rates . . .
As a follow up to my blog post yesterday 9/8/2010 regarding “What is the wait in Richmond Real Estate” – regarding “low interest rates”, the Long & Foster Marketing Minute provides the following example:
“Let’s talk about the “missed opportunity” on the tax incentives. Let’s say first-time home buyer couple is looking at taking a 30-year loan on a $340,000 home, which was the average Long & Foster sale price in July. If they had purchased in early April, in time for the $8,000 credit, the interest rate probably would have been around 5.25 percent.
If that same couple bought today and locked in a rate around 4.5 percent, they would save more than $130 per month on the mortgage payment compared to the early-April purchase.
Even if they only live in the house for 10 years, they would save more than $16,000 in interest. These record-low interest rates mean buyers "match" the $8,000 they would have gotten in tax incentives if they live in the house just five years.”
Consider spreading the word and sharing the secret that the media seems to conveniently overlook. There is good news in the real estate market, and as professionals it is our responsibility to send the message in order to combat the lingering negativity in our marketplace.
Facts & figures courtesy of Jeff Detwiler, president and COO of Long & Foster Real Estate
Wednesday, September 8, 2010
What is the wait in our Richmond Real Estate Market
The Richmond, Virginia metropolitan region of Long & Foster Real Estate met today for a Town-hall gathering. Several hundred local real estate agents, brokers and sponsors attended this special event which spent much of the morning commenting on the state of the company and the realities of real estate in our market sphere. The most important message I took away from all this is, of course, that with the amazingly low interest rates available to consumers today, and the apparent stabilization of real property in our area, it is perhaps the most affordable time in our history to purchase a home. So what is everyone waiting for?
Well, first, this premise presupposes that one has a relatively stable/secure job, ensuring enough confidence and providing proper financial wherewithal to make the next step into home ownership – or to make a move-up purchase. This is without a doubt a HUGE obstacle for anyone to see beyond, and if you’re risk adverse, it may not be manageable. But is the risk any greater today than four years ago when lenders were literally giving away mortgage loans while home prices continued to skyrocket through the heavens? Honestly, I just don’t get it!
Secondly, the media seems to have cornered all futures in real estate. I think it is too easy to pull the media card whenever our woes exceed rational justification, but you have to admit there are no headlines out there promoting the long-term benefits of the current interest rate. As a fellow realtor mentioned this morning, we should be shouting about the best kept secret in the real estate market – low interest rates are far better than any tax credit the government can offer. Just do the math! But hush; don’t tell anyone, it’s a secret. Maybe then the public, and possibly the media, will take note and make a step toward home ownership and a sound life’s-investment.
I can’t say what it will take to help people feel better about real estate, but my business tells me that the housing market continues to improve. Someone must be feeling better about things, because the difference between what is going on today over just a year ago is astounding, and our numbers/statistics reflect this notion. The caveat to this observation is that we need to continue looking forward and forget about what’s in the rearview mirror. The years of 2005-2007 are thankfully gone. There is a new reality out there now for all of us to observe, just ask your REALTOR®. The honest truth is always plain to see!
Friday, September 3, 2010
Friday, August 27, 2010
Are Americans Overstuffed? - [REPOST]
Are Americans Overstuffed? Check In Your Closets and Garages To Find the Answer (edit/delete)
Great advice for those of us that have trouble with the excess in our lives!
Via Pat Fenn (Marketing Specialist for Cindy Jones RE/MAX Allegiance):
No this isn't a commentary on waist lines but instead on the amount of stuff we seem to accumulate. Over the last few years I have become acutely aware of the clean up and throw out process. It started when I began downsizing myself. Along the way I became friends with the folks at the Fairfax County Dump, Salvation Army, 1-800-Junk, PODS and more My new routine is if I haven't used it in a year then I can live without it forever.
Within shouting distance of my home are at least three self storage facilities. Every time I drive down another industrial road I see at least another two. So where has the need come for all of us to hoard so much stuff?
In today's "throw away" society it seems a bit odd that there should be so much of a need for storage facilities. What is lurking behind all of those locked containers? Is it stuff we really need or is it easier just to tuck it away instead of dealing with it? How much money is being spent every year to store things that really should be headed to the dump or donated to a favorite charity? Could you have a vacation with the money instead?
Need some help getting started on the de-cluttering? It is over-whelming I can admit it! So here are a few ideas that helped get me started on the stuff purging:
•Pick a room-doesn't matter where you start
•Set a timeframe-only work on the room a couple of hours at a time
•Sort through it-look at it once and decide if it is a keep, toss or donate
•Don't reminisce-high school is long over, the faded corsages have got to go
•Keep the space organized-have trash bags and plastic bins handy so that you aren't surrounded by piles
•Repeat the process on the next room-move on the next day or next weekend to another space.
•Reward yourself-trust me after you have made a run to the dump you want a reward
So take a look around and decide what you really need and what is ready to go. You might be surprised how good it feels to not have all of the stuff cluttering up your life. And don't try to pass it off on your kids. It will only come back to you when they decide to move!
Great advice for those of us that have trouble with the excess in our lives!
Via Pat Fenn (Marketing Specialist for Cindy Jones RE/MAX Allegiance):
No this isn't a commentary on waist lines but instead on the amount of stuff we seem to accumulate. Over the last few years I have become acutely aware of the clean up and throw out process. It started when I began downsizing myself. Along the way I became friends with the folks at the Fairfax County Dump, Salvation Army, 1-800-Junk, PODS and more My new routine is if I haven't used it in a year then I can live without it forever.
Within shouting distance of my home are at least three self storage facilities. Every time I drive down another industrial road I see at least another two. So where has the need come for all of us to hoard so much stuff?
In today's "throw away" society it seems a bit odd that there should be so much of a need for storage facilities. What is lurking behind all of those locked containers? Is it stuff we really need or is it easier just to tuck it away instead of dealing with it? How much money is being spent every year to store things that really should be headed to the dump or donated to a favorite charity? Could you have a vacation with the money instead?
Need some help getting started on the de-cluttering? It is over-whelming I can admit it! So here are a few ideas that helped get me started on the stuff purging:
•Pick a room-doesn't matter where you start
•Set a timeframe-only work on the room a couple of hours at a time
•Sort through it-look at it once and decide if it is a keep, toss or donate
•Don't reminisce-high school is long over, the faded corsages have got to go
•Keep the space organized-have trash bags and plastic bins handy so that you aren't surrounded by piles
•Repeat the process on the next room-move on the next day or next weekend to another space.
•Reward yourself-trust me after you have made a run to the dump you want a reward
So take a look around and decide what you really need and what is ready to go. You might be surprised how good it feels to not have all of the stuff cluttering up your life. And don't try to pass it off on your kids. It will only come back to you when they decide to move!
Home Trends; Quality over Quantity:
As the nation continues to recover from the effects of a troubled economy, home sizes have trended downward for the first time in three decades. More Americans seem to have also adopted a longer-term perspective, as homes that are smaller in scale are generally more affordable to maintain over time and have less impact on the environment. However, they are not necessarily less expensive to purchase. Many are situated in prime locations and include more high-end features.
Findings of the American Institute of Architects (AIA) Home Design Trends Survey suggests that home buyers as well as renovating homeowners are choosing more efficient floor plans with less square footage. This allows them to indulge their tastes for quality details, and upgraded features with a higher degree of personalization. This key consumer survey also captured the following trends in the home market place in vivid detail.
New priorities trump old rules: The prevalence of non-traditional, open layouts with spacious kitchen and family room areas continues. Today’s homeowners are looking for ways to maximize the square foot area of the homes, so larger, more gathering-friendly casual spaces are often replacing rarely-used formal living and dining rooms.
Options create opportunities: Many builders have incorporated flexible spaces that give buyers the option to dedicate a room to meet their specific needs and preferences or to serve multiple purposes. For example, a formal dining room calls for a chandelier and open access, where as double doors and built-ins can easily create a private home office or library in the same space. It is now also more common for the owners of older homes to alter their floor plans to work better with the way they live.
Focus on accessibility, practicality, and storage: A growing number of again baby boomers drive the preference for one-level or two-story designs with a master bedroom downstairs. Storage features such as large closets and rooms with built-ins maximize the use of space in a smaller footprint.
Can you believe the average size home in 1950 was 983 square feet? In 1970 it grew to 1500 square feet; in 1990 it went to 2050 square feet, to a high of 2479 in 2007. It has been decreasing each year since to 2422 square feet in 2009, the most significant drop ever recorded.
Findings of the American Institute of Architects (AIA) Home Design Trends Survey suggests that home buyers as well as renovating homeowners are choosing more efficient floor plans with less square footage. This allows them to indulge their tastes for quality details, and upgraded features with a higher degree of personalization. This key consumer survey also captured the following trends in the home market place in vivid detail.
New priorities trump old rules: The prevalence of non-traditional, open layouts with spacious kitchen and family room areas continues. Today’s homeowners are looking for ways to maximize the square foot area of the homes, so larger, more gathering-friendly casual spaces are often replacing rarely-used formal living and dining rooms.
Options create opportunities: Many builders have incorporated flexible spaces that give buyers the option to dedicate a room to meet their specific needs and preferences or to serve multiple purposes. For example, a formal dining room calls for a chandelier and open access, where as double doors and built-ins can easily create a private home office or library in the same space. It is now also more common for the owners of older homes to alter their floor plans to work better with the way they live.
Focus on accessibility, practicality, and storage: A growing number of again baby boomers drive the preference for one-level or two-story designs with a master bedroom downstairs. Storage features such as large closets and rooms with built-ins maximize the use of space in a smaller footprint.
Can you believe the average size home in 1950 was 983 square feet? In 1970 it grew to 1500 square feet; in 1990 it went to 2050 square feet, to a high of 2479 in 2007. It has been decreasing each year since to 2422 square feet in 2009, the most significant drop ever recorded.
Monday, August 23, 2010
Top Influences in Selecting a HOME
A Richmond, Virginia neighborhood can be every bit as important as the dwelling itself – at least according those of us polled. The 2009 National Association of REALTORS ® Profile of Home Buyers and Sellers Reported the results of a survey of consumers and real estate agents regarding top influential characteristics in selection a home. Considered by 64% of individuals when deciding where to live, quality of neighborhood was one of the most cited factors.
Additional attributes that those surveyed deemed important are:
Convenience of Job: 50%
Overall affordability of Homes: 43%
Convenience to family and friends: 38%
Quality of the school district: 26%
Convenience to Shopping: 26%
Neighborhood Design: 23%
Convenience to Schools: 21%
When searching for the ideal neighborhood, your real estate agent can be a valuable guide. Your agent can help identify a community that you will enjoy being a part of by assessing your needs and matching them to the locations that seem to be best fit.
Additional attributes that those surveyed deemed important are:
Convenience of Job: 50%
Overall affordability of Homes: 43%
Convenience to family and friends: 38%
Quality of the school district: 26%
Convenience to Shopping: 26%
Neighborhood Design: 23%
Convenience to Schools: 21%
When searching for the ideal neighborhood, your real estate agent can be a valuable guide. Your agent can help identify a community that you will enjoy being a part of by assessing your needs and matching them to the locations that seem to be best fit.
Making a Difference at the Central Virginia Food Bank
Thanks to the efforts of our clients this summer, Virginia Properties contributed 1,185 pounds of food AND over $500 in cash to the Central Virginia Food Bank. As a result, we are able to provide more than 3,600 meals for hungry folks in our area of Richmond. This is a meaningful contribution during difficult times, and we wish to extend our most sincere appreciation to all of our clients and friends - Thank you!
Friday, August 20, 2010
Richmond’s Virginia House & William Lawrence Bottomley
Perhaps my favorite Richmond Virginia architect is William Lawrence Bottomley, although Richmond was not his true home. Bottomley designed numerous meaningful and historically significant homes in Richmond, but it is perhaps a lesser known fact that he contributed to what many might consider a modest detail of importance at Virginia House.
One of Richmond Virginia’s most interesting and historic homes sits overlooking the James River at the back of the exclusive Windsor Farms neighborhood. Virginia House completed construction only months prior to the stock market crash of 1929, and is a tale of romance and interest on its own.
It was the dream of Virginia & Alexander Weddell to construct a home from the materials of a sixteenth century English manor house. They engaged architect Henry Grant Morse, who was primarily a designer of public buildings. Morse traveled in the English countryside with Mr. and Mrs. Weddell as they looked for a model for the house they hoped to build in Windsor Farms. Virginia House is a structure still standing today. Unfortunately the house and gardens are now only open by appointment, but certainly worth a visit.
William Lawrence Bottomley designed many homes in Windsor Farms, but between the years of 1944-46 he designed a Loggia for Virginia House. He incorporated columns imported from Spain to be located on the south side of the home. The painted ceiling in the Loggia came in part from a sixteenth-century house that once stood on the site of Knole in England. The importing of materials from England was in keeping with Morse's intended design/construction concepts.
There are some additional interesting details Bottomley added on the Loggia worth noting, but we’ll save that for your tour! Virginia House is located at 4301 Sulgrave Road, Richmond, VA, Phone: 804.353.4251
Research performed through the Virginia Historical Society
One of Richmond Virginia’s most interesting and historic homes sits overlooking the James River at the back of the exclusive Windsor Farms neighborhood. Virginia House completed construction only months prior to the stock market crash of 1929, and is a tale of romance and interest on its own.
It was the dream of Virginia & Alexander Weddell to construct a home from the materials of a sixteenth century English manor house. They engaged architect Henry Grant Morse, who was primarily a designer of public buildings. Morse traveled in the English countryside with Mr. and Mrs. Weddell as they looked for a model for the house they hoped to build in Windsor Farms. Virginia House is a structure still standing today. Unfortunately the house and gardens are now only open by appointment, but certainly worth a visit.
William Lawrence Bottomley designed many homes in Windsor Farms, but between the years of 1944-46 he designed a Loggia for Virginia House. He incorporated columns imported from Spain to be located on the south side of the home. The painted ceiling in the Loggia came in part from a sixteenth-century house that once stood on the site of Knole in England. The importing of materials from England was in keeping with Morse's intended design/construction concepts.
There are some additional interesting details Bottomley added on the Loggia worth noting, but we’ll save that for your tour! Virginia House is located at 4301 Sulgrave Road, Richmond, VA, Phone: 804.353.4251
Research performed through the Virginia Historical Society
Friday, June 11, 2010
Monday, June 7, 2010
Do-it-Yourself is Overrated!
I am a home project, died in the wool, do-it-yourself fanatic, so I believe anyone can take on whatever house improvement task they set their mind to – if they are committed. What people need to realize is that when I take on a project it’s usually because I want to; when a home owner decides to make an improvement it’s usually because they have to fix something as they’re getting ready to sell their house. In this case it’s no longer an enjoyable hobby, and the task can quickly feel like a burden rather than an escape.
Many sellers are fine taking on a few things as they think about getting their house “match-fit” to sell. At least until they get half way into the work and realize that it’s more than they bargained for when they signed up for it. I love the idea of painting – only the idea of it – but many sellers feel that this is something they can save a few bucks on if they do it themselves. Nevertheless, once they get a couple of brush strokes into it they suddenly realize it’s a bit more of a pain than a pleasure. At best, it’s more work than they had imagined. At worst they will seek therapy after getting through all of it.
Only this week we had a client email us as they are getting ready to put their house up for sale. There are a number of small painting projects that seemed manageable. They had committed to hire a professional painter to handle the big stuff, so a few little areas seemed reasonable. Half way into the five-foot square bathroom they were ready to jump out of the window. I believe they did finish, but needless to say the professional will be getting the rest of the house.
Home owners rarely have the experience, tools, time, and of course the patience to take on the apparently “do-it-yourself” project, especially when they are under the gun. A contractor or handy man comes to the job prepared; they usually don’t have to run out to the store every five minutes because they didn’t plan properly. They also have the experience to do the job in about one third the time it takes for the average home owner to do it. They look at the work as a job, and while you’re at the office doing yours, they’re at your home doing theirs. When you get back in the evening the job is completed professionally, usually without the throwing of objects or the loosing of tempers. If it’s not done correctly it’s not your responsibility to fix it.
I love to take on projects, but I’m the first to admit that when you are getting your house ready to sell, leave it to the professionals. Take a step back and let someone that does this type of work ALL THE TIME do it for you. Save your energy for the new residence, because that’s where you want to be anyway. If you’re not sure who to get for the job then call your Realtor. They are a wealth of information with lists of contractor contacts and recommendations.
John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and is also a Licensed Architect. He and his wife Ann are business partners who believe that HOME is a lifestyle choice. You can learn more about Ann & John by visiting www.InSydeHomes.com or by calling (804) 282-7300
Many sellers are fine taking on a few things as they think about getting their house “match-fit” to sell. At least until they get half way into the work and realize that it’s more than they bargained for when they signed up for it. I love the idea of painting – only the idea of it – but many sellers feel that this is something they can save a few bucks on if they do it themselves. Nevertheless, once they get a couple of brush strokes into it they suddenly realize it’s a bit more of a pain than a pleasure. At best, it’s more work than they had imagined. At worst they will seek therapy after getting through all of it.
Only this week we had a client email us as they are getting ready to put their house up for sale. There are a number of small painting projects that seemed manageable. They had committed to hire a professional painter to handle the big stuff, so a few little areas seemed reasonable. Half way into the five-foot square bathroom they were ready to jump out of the window. I believe they did finish, but needless to say the professional will be getting the rest of the house.
Home owners rarely have the experience, tools, time, and of course the patience to take on the apparently “do-it-yourself” project, especially when they are under the gun. A contractor or handy man comes to the job prepared; they usually don’t have to run out to the store every five minutes because they didn’t plan properly. They also have the experience to do the job in about one third the time it takes for the average home owner to do it. They look at the work as a job, and while you’re at the office doing yours, they’re at your home doing theirs. When you get back in the evening the job is completed professionally, usually without the throwing of objects or the loosing of tempers. If it’s not done correctly it’s not your responsibility to fix it.
I love to take on projects, but I’m the first to admit that when you are getting your house ready to sell, leave it to the professionals. Take a step back and let someone that does this type of work ALL THE TIME do it for you. Save your energy for the new residence, because that’s where you want to be anyway. If you’re not sure who to get for the job then call your Realtor. They are a wealth of information with lists of contractor contacts and recommendations.
John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and is also a Licensed Architect. He and his wife Ann are business partners who believe that HOME is a lifestyle choice. You can learn more about Ann & John by visiting www.InSydeHomes.com or by calling (804) 282-7300
Friday, June 4, 2010
Wednesday, May 12, 2010
Is there Sustainable Growth in Real Estate?
According to investment experts like Warren Buffett and Bruce Norris, as well as many real estate educators and market economists, and even the assistant secretary of the U.S. Department of Housing and Urban Development, David Stevens, there is perceived sustainable growth in the housing market. The key to all if this of course is security in the job market leading to greater consumer confidence, as well as consistently stable, and remaining relatively low, interest rates.
I can’t honestly imagine it’s all that simple, but after observing first quarter sales increases in Richmond, one begins to wonder if the tide in real estate isn’t again shifting, however subtle it may be at the moment. We must also ask how much of a role the “buyer tax credit” plays in this, but it’s safe to say it has certainly helped to get things moving again. It is too early to tell. Nevertheless, it is refreshing to see mid and upper price point homes moving again too, contributing to a stabilization of median sales prices.
What does this mean for us as home owners, buyers and sellers? First, we know it currently remains a buyer’s market, with higher than normal listing inventories and competitive pricing strategies. It also means that there are excellent opportunities for buyers and sellers. Purchasers may enjoy more time to selectively shop their next home, and to purchase at a great value. Sellers are realizing that price and condition determine the length of time and the amount of money they will get on their sale; competitive pricing and move-in ready condition will return a quick sale at a higher price than other homes nearby.
As always, consult your most trusted real estate advisor for complete and up to the minute details about your property and the current housing market. It remains a great time to buy and sell homes!
Ann & John VanderSyde are 2009 Sales Team of the Year with Virginia Properties, A Long & Foster Company. You can learn more about Ann & John by visiting their website www.InSydeHomes.com or by calling (804) 282-7300
I can’t honestly imagine it’s all that simple, but after observing first quarter sales increases in Richmond, one begins to wonder if the tide in real estate isn’t again shifting, however subtle it may be at the moment. We must also ask how much of a role the “buyer tax credit” plays in this, but it’s safe to say it has certainly helped to get things moving again. It is too early to tell. Nevertheless, it is refreshing to see mid and upper price point homes moving again too, contributing to a stabilization of median sales prices.
What does this mean for us as home owners, buyers and sellers? First, we know it currently remains a buyer’s market, with higher than normal listing inventories and competitive pricing strategies. It also means that there are excellent opportunities for buyers and sellers. Purchasers may enjoy more time to selectively shop their next home, and to purchase at a great value. Sellers are realizing that price and condition determine the length of time and the amount of money they will get on their sale; competitive pricing and move-in ready condition will return a quick sale at a higher price than other homes nearby.
As always, consult your most trusted real estate advisor for complete and up to the minute details about your property and the current housing market. It remains a great time to buy and sell homes!
Ann & John VanderSyde are 2009 Sales Team of the Year with Virginia Properties, A Long & Foster Company. You can learn more about Ann & John by visiting their website www.InSydeHomes.com or by calling (804) 282-7300
Wednesday, March 17, 2010
How Do Teams in Real Estate Work?
I love my wife Ann, who is also my business partner; she does all the honest-to-goodness work while I write articles about real estate or the housing market and purport to be an “expert” at something. She is decently civil about the whole thing too, and complements me by saying how we each contribute different things to the job, which is after all why we work so well together. I have decided to politely agree with her on this point.
I am blessed because I know that, while there are a number of successful husband/wife teams in real estate, there are a lot of folks out there that cannot understand this relationship – working and otherwise. I know this because people tell each of us in all seriousness that they could no more work with their spouse than fly like a bird! Or they will project their experience by saying, “You’ll be divorced in less than a year”. Well, thankfully, I am pleased to report we are still together, making it work after nearly three years in business and over twenty years of marriage. Fortunately, I suppose, most partnerships don’t involve marriage.
I’ve been in housing in one form or another since 1986, and a Realtor/Broker for more than seven years. I’ve seen lots of partnership business models. Some work seamlessly well, while others fall through gaps in the seams. The ones that seem to survive appear to succeed as Ann said, because each member of the team contributes to the effort equally. Each person is either pulling in the same amount of business, or provides another talent that is indispensible to the business. Either way, partners feel their efforts are valued, and that their counterpart is doing their share of the work too.
I suppose teams in real estate work just like any other relationship – hard work, dedication, appreciation, mutual respect, sharing and caring to name a few. It kind of makes me feel like I’m back in kindergarten or something, but isn’t that where we started to first learn our most basic and important lessons for life anyway? If you’re interested in a partnership, find someone you like and trust and give it a few test runs together to see if it works. Unlike marriage, if it doesn’t work out simply find someone else with whom to try it. A good partnership may take some time to find the best fit. I had the advantage of a long relationship to fall back on, but then I’ve always been a slow learner.
John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and is also a Licensed Architect. You can learn more about Ann & John VanderSyde By visiting their website www.InSydeHomes.com or by calling (804) 282-7300
I am blessed because I know that, while there are a number of successful husband/wife teams in real estate, there are a lot of folks out there that cannot understand this relationship – working and otherwise. I know this because people tell each of us in all seriousness that they could no more work with their spouse than fly like a bird! Or they will project their experience by saying, “You’ll be divorced in less than a year”. Well, thankfully, I am pleased to report we are still together, making it work after nearly three years in business and over twenty years of marriage. Fortunately, I suppose, most partnerships don’t involve marriage.
I’ve been in housing in one form or another since 1986, and a Realtor/Broker for more than seven years. I’ve seen lots of partnership business models. Some work seamlessly well, while others fall through gaps in the seams. The ones that seem to survive appear to succeed as Ann said, because each member of the team contributes to the effort equally. Each person is either pulling in the same amount of business, or provides another talent that is indispensible to the business. Either way, partners feel their efforts are valued, and that their counterpart is doing their share of the work too.
I suppose teams in real estate work just like any other relationship – hard work, dedication, appreciation, mutual respect, sharing and caring to name a few. It kind of makes me feel like I’m back in kindergarten or something, but isn’t that where we started to first learn our most basic and important lessons for life anyway? If you’re interested in a partnership, find someone you like and trust and give it a few test runs together to see if it works. Unlike marriage, if it doesn’t work out simply find someone else with whom to try it. A good partnership may take some time to find the best fit. I had the advantage of a long relationship to fall back on, but then I’ve always been a slow learner.
John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and is also a Licensed Architect. You can learn more about Ann & John VanderSyde By visiting their website www.InSydeHomes.com or by calling (804) 282-7300
Wednesday, February 24, 2010
What Do Statistics Tell us About the Housing Market?
I love the National Association of Realtors; they have stats for everything. If you want to see the latest market stats, trends and projections, I feel this is one of the first websites to visit. For instance they tell you that the number of first-time home buyers rose to 47%, up six percent over this time last year, the highest on record dating back to 1981. They tell you the median price of homes, where down payments come from, what the age is of buyers and sellers, and that 80% of consumers still choose full service agent representation when buying or selling property and why.
It’s important to realize home sales are up over last year, in part driven by the extended tax credit, an increase in housing affordability, but also due to pent up demand and personal change of circumstance. According to some economist, we can expect a surge in the housing market this spring, signs for which are already present as we see a greater number of homes coming into the market. It is even more exciting to note the increase in activity above the first-time home buyer level. The prediction is that home sales are on track to increase in the coming year. All of this information is supported by statistics.
These stats do not necessarily mean that home prices are going to be on the rise. If we are fortunate they will stabilize as we realize that housing affordability is on the increase. The NAR Housing Affordability Index measures whether or not a “typical family” can qualify for a mortgage loan on a “typical home”. Typically, this is defined at length on the aforementioned NAR web site. What it tells us is that more people today have more than enough income to qualify for a home loan.
Nevertheless, all of this is dependent on the job market and consumer confidence. The continued creation of jobs will be instrumental to the success of a recovery in housing, no matter what statistics you reference. I remain patently optimistic as the real estate market improves – statistically speaking.
John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and is also a Licensed Architect. You can learn more about Ann & John VanderSyde By visiting their website www.InSydeHomes.com or by calling (804) 282-7300
It’s important to realize home sales are up over last year, in part driven by the extended tax credit, an increase in housing affordability, but also due to pent up demand and personal change of circumstance. According to some economist, we can expect a surge in the housing market this spring, signs for which are already present as we see a greater number of homes coming into the market. It is even more exciting to note the increase in activity above the first-time home buyer level. The prediction is that home sales are on track to increase in the coming year. All of this information is supported by statistics.
These stats do not necessarily mean that home prices are going to be on the rise. If we are fortunate they will stabilize as we realize that housing affordability is on the increase. The NAR Housing Affordability Index measures whether or not a “typical family” can qualify for a mortgage loan on a “typical home”. Typically, this is defined at length on the aforementioned NAR web site. What it tells us is that more people today have more than enough income to qualify for a home loan.
Nevertheless, all of this is dependent on the job market and consumer confidence. The continued creation of jobs will be instrumental to the success of a recovery in housing, no matter what statistics you reference. I remain patently optimistic as the real estate market improves – statistically speaking.
John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and is also a Licensed Architect. You can learn more about Ann & John VanderSyde By visiting their website www.InSydeHomes.com or by calling (804) 282-7300
Friday, February 5, 2010
Activity in Richmond Real Estate – Forecast “More Snow”
It’s snowing! Again!!!
What a week for real estate. Tell people they are snowed in an unable to see homes and the phone starts ringing. They say, “If you ever want to get busy, plan a vacation”; I suppose the forecast for more snow is similar to this concept. But in all honesty, it is probably just that people are ready to get moving again after an extended period of inactivity. The notion that we “can’t get out” fuels the need to do something sooner rather than later. I hope this is the precursor to a vibrant spring market this year!
On the other hand, with my optimistic view of the housing market, I sometimes feel like I’m singing to the wind; my words float aimlessly away with out ever being heard. People are still skeptical and concerned and hesitant to make decisions about their next move. Understandably so, I know, but with mortgage rates and prices where they are it’s difficult not to look on the bright side of things.
We are getting mixed signals about the economy, jobs and consumer confidence. Nevertheless, it is apparent that people are ready to start looking at homes again. Activity is present, and, as I’ve recently said, properties in the upper price brackets are starting to sell again. I don’t think any of us can truly predict the future, but one thing is certain, we won’t sit on the fence forever.
Well, it’s back to work as I watch the snow start to cover the walks around the office. It’s going to be another interesting couple of days in Richmond real estate. I hope you enjoy yours!
John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and is also a Licensed Architect. You can learn more about John and Ann by visiting www.InSydeHomes.com or by calling (804) 282-7300
What a week for real estate. Tell people they are snowed in an unable to see homes and the phone starts ringing. They say, “If you ever want to get busy, plan a vacation”; I suppose the forecast for more snow is similar to this concept. But in all honesty, it is probably just that people are ready to get moving again after an extended period of inactivity. The notion that we “can’t get out” fuels the need to do something sooner rather than later. I hope this is the precursor to a vibrant spring market this year!
On the other hand, with my optimistic view of the housing market, I sometimes feel like I’m singing to the wind; my words float aimlessly away with out ever being heard. People are still skeptical and concerned and hesitant to make decisions about their next move. Understandably so, I know, but with mortgage rates and prices where they are it’s difficult not to look on the bright side of things.
We are getting mixed signals about the economy, jobs and consumer confidence. Nevertheless, it is apparent that people are ready to start looking at homes again. Activity is present, and, as I’ve recently said, properties in the upper price brackets are starting to sell again. I don’t think any of us can truly predict the future, but one thing is certain, we won’t sit on the fence forever.
Well, it’s back to work as I watch the snow start to cover the walks around the office. It’s going to be another interesting couple of days in Richmond real estate. I hope you enjoy yours!
John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and is also a Licensed Architect. You can learn more about John and Ann by visiting www.InSydeHomes.com or by calling (804) 282-7300
Saturday, January 30, 2010
Activity in Richmond Real Estate – Forecast “Snow”
It’s snowing! An appropriate end to the week; we should have winter precipitation once in a while in Richmond to remind us of the change in seasons. And on a Saturday when there is no real pressure to go anywhere, we can attempt to enjoy it a little too. There is also the comfort of knowing it won’t hang around long as temperatures rise next week. The business of real estate sales will not be put off for long.
I continue to be encouraged by the increase in real estate activity. The news in general is cautious but good. The GDP is up higher than expected, and while we struggle with unemployment the notion that the economy is improving is present. Perhaps this will lead us into a better than expected spring housing market? I will remain hopeful and optimistic, and continue to work as hard as I can to make this idea a reality.
For today, I’m going to make some time for my family, enjoy the snow, and try to make a little time to enjoy the moment; a luxury not often afforded those of us in real estate sales. Sometimes the greatest gifts are so obvious that we fail to recognize them. I’m taking note of this one!
John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and is also a Licensed Architect. You can learn more about John and Ann by visiting www.InSydeHomes.com or by calling (804) 282-7300
I continue to be encouraged by the increase in real estate activity. The news in general is cautious but good. The GDP is up higher than expected, and while we struggle with unemployment the notion that the economy is improving is present. Perhaps this will lead us into a better than expected spring housing market? I will remain hopeful and optimistic, and continue to work as hard as I can to make this idea a reality.
For today, I’m going to make some time for my family, enjoy the snow, and try to make a little time to enjoy the moment; a luxury not often afforded those of us in real estate sales. Sometimes the greatest gifts are so obvious that we fail to recognize them. I’m taking note of this one!
John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and is also a Licensed Architect. You can learn more about John and Ann by visiting www.InSydeHomes.com or by calling (804) 282-7300
Friday, January 22, 2010
Activity in Richmond Real Estate – Week Three of 2010
It’s been another busy week in Richmond real estate. I love the way this year seems to be moving toward a renewed interest in homes. In spite of some still rather unpleasant housing news, there is activity in the market that supports the fact that people will not sit on the fence forever. This is perhaps the most affordable time in which many of us have lived to by a house, which is being reflected in the growing sales totals in all price ranges.
I also think it’s refreshing that folks seem to be looking at real estate as a “home” rather than just as an investment. I’ve always felt there is more to the places we choose to live other does not. than simply the “stick & bricks” that support them – which is evident in our Mission Statement “ . . . celebrating the notion of HOME as a distinctive lifestyle choice”. I’ve seen very few people, other than developers and investors, look at their future domicile with out any emotional investment. Even if they do, their spouse or significant
What all of this may mean for Richmond real estate is that 2010 will get off to a strong start. I anticipate it generating into a healthy spring market. I wish I could predict the coming cycle of sales, but this could very well be the first year in several where the rhythm of home sales reflects a normal market – if such a thing actually exists.
John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and is also a Licensed Architect. You can learn more about John and Ann by visiting www.InSydeHomes.com or by calling (804) 282-7300
I also think it’s refreshing that folks seem to be looking at real estate as a “home” rather than just as an investment. I’ve always felt there is more to the places we choose to live other does not. than simply the “stick & bricks” that support them – which is evident in our Mission Statement “ . . . celebrating the notion of HOME as a distinctive lifestyle choice”. I’ve seen very few people, other than developers and investors, look at their future domicile with out any emotional investment. Even if they do, their spouse or significant
What all of this may mean for Richmond real estate is that 2010 will get off to a strong start. I anticipate it generating into a healthy spring market. I wish I could predict the coming cycle of sales, but this could very well be the first year in several where the rhythm of home sales reflects a normal market – if such a thing actually exists.
John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and is also a Licensed Architect. You can learn more about John and Ann by visiting www.InSydeHomes.com or by calling (804) 282-7300
Friday, January 15, 2010
More Change in Richmond Real Estate
The second week of the New Year in Richmond, Virginia shows continuing signs of housing market improvements. In general, activity is increasing; calls and appointments are picking up and there better than usual contract activity. Is this a temporary condition, a last ditch effort to take advantage of government incentives, or is this the precursor of a healthy spring market?
Time will tell us, but I am much encouraged by the signs that indicate the number of listings and sales is starting to increase. Especially sales! There is evidence by the number of contracts we are getting in our office that things are much better today in real estate than they were this time last year. I’d say even better compared to as little as three month ago. The best part is that we are beginning to see movement in areas above the first-time home buyer. This is very exciting news!
What this news doesn’t tell us is that this is still a buyer’s market and that there are plenty of deals to be made. With this in mind, if you are thinking about making a move but have been waiting for the right opportunity, this could be it. The market will continue to change as it always does. Just remember there is no perfect time to make a change, but some times are certainly better than others. It’s looking like this could be one of those times.
I will encourage you to keep an eye on the first quarter statistics for housing listing/sales in Richmond. I anticipate a very positive report that will further boost confidence in the housing arena. Think about it; I’d love to hear you are getting in on the front end of an improving real estate market. Contact your most trusted REALTOR for assistance.
John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and is also a Licensed Architect. You can learn more about John and Ann by visiting www.InSydeHomes.com or by calling (804) 282-7300
Time will tell us, but I am much encouraged by the signs that indicate the number of listings and sales is starting to increase. Especially sales! There is evidence by the number of contracts we are getting in our office that things are much better today in real estate than they were this time last year. I’d say even better compared to as little as three month ago. The best part is that we are beginning to see movement in areas above the first-time home buyer. This is very exciting news!
What this news doesn’t tell us is that this is still a buyer’s market and that there are plenty of deals to be made. With this in mind, if you are thinking about making a move but have been waiting for the right opportunity, this could be it. The market will continue to change as it always does. Just remember there is no perfect time to make a change, but some times are certainly better than others. It’s looking like this could be one of those times.
I will encourage you to keep an eye on the first quarter statistics for housing listing/sales in Richmond. I anticipate a very positive report that will further boost confidence in the housing arena. Think about it; I’d love to hear you are getting in on the front end of an improving real estate market. Contact your most trusted REALTOR for assistance.
John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and is also a Licensed Architect. You can learn more about John and Ann by visiting www.InSydeHomes.com or by calling (804) 282-7300
Saturday, January 9, 2010
The New Year in Richmond Real Estate
I have made it through the first week of the New Year. After last year it feels like some congratulations are in order? Well, not really, I suppose, because there is a lot of ground to cover in order to determine if the real estate business-plan we have developed for 2010 will be successful. In fact another fifty-one weeks to be exact. However, after the past year I am eternally optimistic about the up-swing in housing. In spite of all the predictions, prognostications, advice and guess-work out there in the market-place, I feel that good things are on the horizon in our business.
I hear reports about good and bad markets, the pick up in sales and the total decline of our society as we know it. I wonder if there is enough confidence out there for people to start purchasing homes again. I don’t think I’m smart enough to figure out what it will take to make this happen, but I can tell you that I’m beginning to see movement in and around the Richmond region. It has started with an increase in activity, the notion that people are out there looking at homes again. What has really changed is that product has started to move again. Home sales above the first-time home buyer level are being sold. It’s happening now, and the proof is in our most recent office stats.
So I’ve decided to look at the New Year like a new semester at school; I will keep past failures in the past, highlight our successes, focus on and learn from all of it, and begin a-new! I’ve been told “good judgment comes from experience, and a lotta that comes from bad judgment”. Perhaps it’s better to keep looking forward than it is to be worried about water under the dam. Good things are on the horizon in our business – just keep working for it, and I’ll plan to see you here in 51 weeks!
John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and is also a Licensed Architect. You can learn more about John and Ann by visiting www.InSydeHomes.com or by calling (804) 282-7300
I hear reports about good and bad markets, the pick up in sales and the total decline of our society as we know it. I wonder if there is enough confidence out there for people to start purchasing homes again. I don’t think I’m smart enough to figure out what it will take to make this happen, but I can tell you that I’m beginning to see movement in and around the Richmond region. It has started with an increase in activity, the notion that people are out there looking at homes again. What has really changed is that product has started to move again. Home sales above the first-time home buyer level are being sold. It’s happening now, and the proof is in our most recent office stats.
So I’ve decided to look at the New Year like a new semester at school; I will keep past failures in the past, highlight our successes, focus on and learn from all of it, and begin a-new! I’ve been told “good judgment comes from experience, and a lotta that comes from bad judgment”. Perhaps it’s better to keep looking forward than it is to be worried about water under the dam. Good things are on the horizon in our business – just keep working for it, and I’ll plan to see you here in 51 weeks!
John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and is also a Licensed Architect. You can learn more about John and Ann by visiting www.InSydeHomes.com or by calling (804) 282-7300
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