Richmond Realtor John VanderSyde

What do Real Estate Stats Say?

2011-10-05T12:21:00.000-07:00

Have you seen any home statistics lately? Do you find this information to be invigorating or exhausting? Do these numbers excite you enough to think about buying or selling a home, or do they entice you to plug your ears and block out the market banter? There is an excess of information out there, so what should you believe, who should you listen to, and what should you do?

We as real estate professionals are in the business of evaluating real property every day. The overall message we receive is positive, and it is part of our job to relay this good information to you the consumer. I can point to dozens of stats and market analysis that should easily convince most people of the improving market conditions, as well as the unarguable fact that interest rates remain so low that this may be the best opportunity to own a home EVER. But listen to the national media and it doesn’t mean a thing if consumer confidence in the market is down.

Fortunately, Richmond Virginia fairs better than the national housing market. In general, we enjoy a good housing industry. While there are many homes that sit on the market, there are many more that sell immediately - and yes, some with multiple offers. We know these are challenging times for buyers and sellers because there is so much uncertainty about what is the best decision for each of us.

We can tell you that the housing market will continue to improve and that interest rates will go up; we wish we could be specific about exactly when to expect this to happen. In the mean time, we will advise you to listen to your personal needs, contact your trusted housing advisor, and have them discuss with you the current market trends as it relates to your specific situation. Well informed consumers are empowered to make smart decisions, and real estate is no exception.

Time to Sell or Simply Ad-on? — AnnandJohnVanderSyde.com

2010-10-21T15:03:00.000-07:00

Time to Sell or Simply Ad-on? — AnnandJohnVanderSyde.com

Who are the Real Estate Experts?

2010-10-06T13:39:00.000-07:00

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

Who Is Saying It is Time To Buy a Home? EVERYONE!

2010-09-22T10:44:00.000-07:00

"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.

The Fall Harvest Applies to Housing too

2010-09-20T12:22:00.000-07:00

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

Richmond’s Small Town Charm Offers Hope & Optimism

2010-09-09T11:57:00.000-07:00

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 . . .

2010-09-09T10:52:00.000-07:00

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

What is the wait in our Richmond Real Estate Market

2010-09-08T15:49:00.000-07:00

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!

AnnandJohnVanderSyde.com » Home Trends; Quality over Quantity:

2010-09-03T14:17:00.000-07:00

AnnandJohnVanderSyde.com » Home Trends; Quality over Quantity:

Are Americans Overstuffed? - [REPOST]

2010-08-27T14:37:00.000-07:00

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!

Home Trends; Quality over Quantity:

2010-08-27T14:36:00.000-07:00

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.

Top Influences in Selecting a HOME

2010-08-23T11:21:00.000-07:00

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.

Making a Difference at the Central Virginia Food Bank

2010-08-23T08:56:00.000-07:00

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!

Richmond’s Virginia House & William Lawrence Bottomley

2010-08-20T16:06:00.001-07:00

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

The Smokey Pig closing if buyer can't be found | Richmond Times-Dispatch

2010-06-11T10:18:00.000-07:00

The Smokey Pig closing if buyer can't be found | Richmond Times-Dispatch

Do-it-Yourself is Overrated!

2010-06-07T14:26:00.000-07:00

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

Home and Garden | Bathroom makeover - Decorating, Design and Remodeling - Bathroom

2010-06-07T12:55:00.000-07:00

Home and Garden | Bathroom makeover - Decorating, Design and Remodeling - Bathroom

Sponsor Change for Monument Ave 10K

2010-06-04T11:34:00.000-07:00

Sponsor Change for Monument Ave 10K

Is there Sustainable Growth in Real Estate?

2010-05-12T08:36:00.000-07:00

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

How Do Teams in Real Estate Work?

2010-03-17T09:00:00.001-07:00

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

What Do Statistics Tell us About the Housing Market?

2010-02-24T10:18:00.000-08:00

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

Activity in Richmond Real Estate – Forecast “More Snow”

2010-02-05T07:50:00.000-08:00

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

Activity in Richmond Real Estate – Forecast “Snow”

2010-01-30T07:11:00.000-08:00

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

Activity in Richmond Real Estate – Week Three of 2010

2010-01-22T08:18:00.000-08:00

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

More Change in Richmond Real Estate

2010-01-15T15:18:00.000-08:00

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

The New Year in Richmond Real Estate

2010-01-09T11:16:00.000-08:00

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

What's next on the Tax Credit Front?

2009-11-23T13:06:00.000-08:00

As you know, it was recently announced “the government expanded the first-time homebuyer tax credit through April 30th, 2010, and added a new homebuyer tax credit for existing homeowners who are interested in purchasing a new home. With mortgage rates still at historic lows, and plenty of affordable homes on the market, this may be a great time to buy.” In fact, this may be the most affordable housing market that many of us have seen in our lifetimes.

So what does this mean for home buyers and sellers? Well, for starters, it may translate into an earlier than normal “spring market” for Richmond region real estate. We seemed to get a late start in 2009, with the initial tax credit pushing the market into the summer and fall months. The most recent tax credit extension and its expanded criteria for existing homes owners could start things rolling early in the New Year.

We also know that buyers and sellers have been sitting on the sidelines waiting for signs of economic improvement, or an opportunity that is just too good to pass up. The backlog of inactivity may correspondingly translate into housing sales starting early in 2010. For example, the revised tax credit and its April deadline seems to be responsible for the increase in listing activity VIRGINIA PROPERTIES is experiencing in November and December. As a result, this should boost home sales starting in January and continue into the spring.

We should keep a weather eye on the horizon; there is perhaps a wave of activity heading for Richmond spun-off by the tax credit front. As with most opportunities, the tax credit does have some specific requirements, so you should consult with your most trusted real estate advisor for details – because April 2010 will be here before you know it.

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 Should I do to Find My Next Home

2009-10-23T09:48:00.000-07:00

Did you know that approximately 85% of people looking for homes use a REALTOR®? In spite of the fact that the majority of home buyers start their search on the internet, they still choose to work with a real estate professional once they are committed to a serious home search.

Realtors don’t control housing information the way they did twenty years ago, before MLS and computer based systems began sharing information freely across cyber space. What they do provide is an in-depth knowledge of homes and property values that only comes from daily interaction with other professionals, buyers and sellers. This constant commodity awareness is the same reason we chose to work with professionals in other parts of our lives. Why should buying a home be any different?

On average, it takes ten weeks for someone to find the home they intend to purchase. During this period it is no surprise that purchasers want the guidance that knowledgeable sales agents bring to the table. Not to mention, attention to detail and individual representation during unusual times where nothing in a housing transaction can be taken for granted. In order to be successful, someone must be on your side, looking out for your interests, and representing your needs, wants and desires.

So, start looking for your next home the same way 87% of buyers do, on the internet. But don’t hesitate to get your most trusted real estate professional involved in the process early; they provide information not accessible online, along with the advice and guidance you will need to begin a serious search, and to find the home that best suits you.

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

When is the best time to buy or sell real estate in Richmond?

2009-08-11T11:50:00.000-07:00

Statistics show that the spring months tend to be the best time to buy or sell a home in Richmond. After being cooped up all winter we are ready for change with the arrival of warm weather and fresh foliage. We are fortunate in Richmond to have a robust fall market as well. Once again, due in part to our mild temperatures, the fall offers opportunities to collect ourselves as we prepare to settle down for the winter, and this attitude is reflected in property sales.

In contrast, August is the slowest month for home sales just ahead of December. One can actually feel the pulse of activity around town dip during these months. As summer comes to a close, people are focused on getting in that last vacation or making preparations for the new school year. December is the height of holiday celebration and travel. Most of us are not looking for a big lifestyle change at these times. One thing is for sure, the people out looking for homes during these months are usually very serious about buying.

Any good realtor will tell you that a home can’t be sold unless it’s on the market. Honestly, any time of the year can be great for moving property, and the off-season can sometimes work in your favor. The rules are the same. You simply need to know your market and determine what you can do to be the best product available or position yourself to get one. Consult your most trusted real estate advisor and make a move today!

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

Where Do You Get Your Housing News?

2009-07-28T13:27:00.000-07:00

In Richmond, Virginia, should we believe the news recently reporting that the real estate market is finally turning the corner? Notice I didn’t say “improving”. Nevertheless, media reports have been more forthcoming with increased frequency about where the housing market is these days, and that perhaps we hit bottom back in December. I’m also getting reports from other parts of the country claiming more positive housing trends.

So why do we need the media to tell us that things are getting better? I’ve spent the last six months evaluating the market in order to better counsel my buyers and sellers. I’ve done my best to put a positive spin on what has been a difficult time, but there is no denying that this is one of the best times in history to buy a home.

For whatever reason, most people don’t want to hear about real estate changes from their Realtor. They would prefer to wait for it to be reported in the news. I hate to say it, but who do you think has the inside line on housing trends; the people who work in the industry daily, or the ones reporting on it from the outside?

Do I believe the market has corrected itself? Do I feel the housing crisis is over? Do I think the home situation is completely stabilized? The answer to these questions is "NO"! I do believe there is no one out there more qualified to help our buyers and sellers evaluate the market in order to make informed decisions bout their housing choices than REALTORS®. You don’t need the media to tell you how it works; find a trusted advisor and consult with them. That’s what I do in every other aspect of my life, why should Real Estate be any different?

John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and is also a Licensed Architect.

Should I buy at the top of my price range?

2009-07-10T12:27:00.000-07:00

I knew a man who would advise buying as much home as you can possibly afford. His philosophy being, I believe, that you will grow into your investment. In other words, it will never be more affordable than it is today. Furthermore, as you succeed in life its affordability will continue to improve.

The recent economy and seemingly uncertain housing market may have some people questioning this advice. But this suggestion was given at a time when most buyers were looking to stay in their home for at least five to seven years. With this stipulation in mind I believe it is still sound advice today, but I will ad you shouldn’t expect this home to be perfect; leave room in the price for improvements!

I have found many buyers are searching for homes at the upper limits of their comfort zone. When they get inside they are expecting everything to be as if they already owned it. This is mainly because there is little or no money left over after purchasing to create the improvements they desire in order to make the home theirs. As a result they end up feeling disappointed with the selection process, or with a seller’s lack of willingness to compromise on price.

One suggestion is to reframe our thought process when considering which homes to purchase. It may be a good idea to lower our price point, and perhaps our expectations, when choosing what homes to visit. It is important to have a little vision. I’ve never met a buyer who didn’t want to change something in the home of their dreams.

Improvements don’t need to be a bust. Most mortgage lenders today can provide construction loan packages that become part of a mortgage upon completion of desired improvements. This allows one to get the home they want without compromising on those items that are a must have in the next home they wish to purchase.

So consider your price-point-comfort-level in determining how much home you can afford. Have a little imagination, or consult with someone who does; this will allow you to find the basic home you are searching for while leaving room in the budget to make the improvements you need to live happily, for at least the next five to seven years!

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

Is the Weekend the Only Time We Can Look for Homes?

2009-06-08T15:03:00.000-07:00

My business partner Ann recently came across this question while holding open a house for sale here in Richmond, Virginia. It came from a first-time home buyer that was using the internet and news papers to look for a new home. The innocence of the question brought a smile to my face, but then I know about fifty percent of the people out there are searching for homes without the benefit of using a REALTOR®. They are not finding the properties they want, or previewing them early when they are fresh on the market, or during those times when it's most convenient for the buyer to see them.

Most people don't like to admit when they need help. As a man who rarely asks for directions, I completely understand the reluctance to concede stupidity when I should be seeking guidance. After all, I'm happy to represent myself in court, design my own house, or perform my own surgery in lieu of seeking professional counsel in these areas. The logic is so obvious - of course I can buy or sell my own home without using a Realtor, right? Well, as it turns out, the answer is yes. But perhaps the more prudent question is, should you?

As my partner likes to say, "The longer I am in this business, the more I realize there is to know about this business". I can't adequately address all the advantages of Using a Realtor in this short article, but I would like to point out two brief observations. First, statistics prove you will not be saving time or money by looking for property on your own. Secondly, if you are out there previewing homes you should already be working with a Realtor.

On average, I find it takes a person six months or more to find their home and get to closing once I make contact with them. And what's more, you run the risk of having NO representation if you choose to start looking by yourself. Do yourself a favor; consult with a Realtor when considering your next housing move. If you're lucky, you may rediscover what else is available for you to do on the weekends!

Source: John VanerSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and is also a Licensed Architect. You can learn more about John & Ann VanderSyde by visiting their website at www.InSydeHomes.com

The Perfect Day for Not Working Real Estate!

2009-06-05T15:03:00.000-07:00

I’m watching Baseball – the little guys – instead of working real estate during what is usually my most productive time of day. My ten-year-old has a late game on a Monday afternoon at Byrd Park Little League in Richmond, Virginia. The weather is perfect; there’s no humidity, a gentle breeze, plenty of soft sunshine, and the smell of fresh cut grass is in the air. It is a delightful spring afternoon on the cusp of summer. The pool is open, and school is just letting out for the year. We only have one of two more games before it ends and we’ll be off to do something else.

The kids are young, and just as uncoordinated and care-free as I was then. They would rather pick at the grass and make dust clouds than pay attention to the game. They have no idea what’s ahead for them, they are simply living life in the moment. How great is that! I can’t help but ask myself the question, “how often does this happen in my life today?” I am thankful for the moment of peaceful reflection and wish there were more opportunities to be in the moment, just like this one is for me.

I’m watching baseball, wishing I were ten years old again, even if only for the afternoon.

Source: 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 VanderSyde by visiting www.InSydeHomes.com

Is There No Winning in Today’s Housing Market?

2009-06-01T13:24:00.000-07:00

There is no question it’s a buyer’s market in some rather uncertain times. Sellers still appear unrealistic about price and condition, and purchasers feel no sense of urgency to make a decision – and both sides are unhappy about it. This must be the reason why people feel like there is no winning in today’s housing market.

What’s truly surprising to me is that when making important decisions about their homes folks often don’t use the data provided by us as professional Realtors. They want our opinion, our experience our knowledge, but when the facts are delivered they would rather take the advice of a neighbor or close friend living in another state. I can’t figure it out. I’ve come to the conclusion that irrational justification supersedes all commonsense; there is just no helping some people. The thing to remember for the rest of us is that statistics, when gathered correctly and looked at honestly, tell the story every time. What we must also keep in mind that this target is always moving!

I work hard to get it right! In some cases I’ve missed the chance to represent a seller due to honest evaluation of the market, or I’ve simply had to walk away because of unrealistic expectations. I know I’m better off in the end, but there still remains the feeling that I’ve failed by not being able represent their housing needs. The bottom line is, when not taking good advice from a professional Realtor, sellers keep chasing the market and buyers are missing great deals.

In my market area of Richmond, Virginia where unemployment is 2% lower than the national average, and foreclosures are almost twice as low as the national average, the question remains, who are the winners in today’s market? I can tell you they’re out there, but they are being very, very quiet. They are the one’s who are successfully buying and selling real estate NOW!

Source: 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 VanderSyde by visiting www.InSydeHomes.com

Plan A Vacation and Work, Work, Work!

2009-05-26T13:39:00.000-07:00

I think I’ve got this all figured out now. There is an unspoken law of Real Estate that in order to stay busy, one must plan a vacation or schedule to take some time away from the job. No matter how slow things have been, as soon as you do, the phone rings and the property that has been sitting the longest must be shown precisely when you are not available. Oh, good grief!

This past weekend was no exception – a national holiday. In this economy, in a place where no one is in a hurry to make a decision, one would think the entire world would be on vacation, or at least could wait until Monday. This is obviously not the case. Only this time I threw a monkey-wrench at the god’s. I only pretended to make plans to be away from the office, and feigned my inaccessibility to show property. Guess what; it worked!

Thursday afternoon the phone started ringing. I had multiple calls every day through the weekend. Since this wasn’t a surprise, and I had planned around it, I got everything finished I needed to accomplish, and still had more time than usual to spend with my family. It was my best working non-vacation ever, and the results were in my financial favor too.

The way I see it, I am telling everyone I know I have vacation plans each week through the summer. They’ll never know the difference, and as a result, I’m certain to have my best year ever. Well at least until the god’s figure it out, or whenever I actually decide take a real vacation!

Source: 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 VanderSyde by visiting www.InSydeHomes.com

Time to Sell or Simply Ad-on?

2009-05-22T08:43:00.000-07:00

You may be contemplating whether it’s better to sell and “move up”, or simply add-on in order to upgrade your existing home. Circumstances can vary making this a difficult decision. This question comes up in all markets, so it’s not just a sign of the times. No matter what the motivation is there are a few critical questions one can ask before moving forward.

Richmond is blessed with a wealth of excellent neighborhoods, providing a variety of life styles from which to choose. So, the first question to ask is “can I duplicate what I love most about my neighborhood living somewhere else?” This consideration may make the decision easy if you are attached to your area, or if you are driven to move for specific needs not available where you are now.

Next, “what will it take to make my current house meet or exceed what I can find in another location?” Why else would we consider moving? This may be influenced by our finances, space considerations, modern amenities, schools, work, and undetermined gains vs. losses. It’s sometimes best to make a list in order to evaluate this question properly.

Finally, “am I willing to live through renovations and additions in order to get what I can purchase somewhere else?” Be realistic and honest about how this effects you as well as everyone living in the house. Give the greatest consideration to this question, as it has the most significant impact on family and relationships.

The rest will fall into place with the assistance of qualified professionals like contractors, designers, architects and Realtors®. The source depends on your decision, so choose wisely while consulting a trusted advisor.

For more insight, information and any questions on this and other important issues, please contact your most valued real estate professional, we are here to serve you!

Sources: John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and a Licensed Architect. He and his wife Ann are in business together in Richmond, Virginia.

Is Now a Good Time to Buy Real Estate?

2009-04-30T12:18:00.000-07:00

Real estate seems to have been a fickle friend to some of us recently. At one time it was something you could rely on to increase your bottom line and secure your future. Then, suddenly, it wasn’t! Well guess what – NOW is the time to reconsider how you feel about real property as an investment opportunity or as a new home.

You have already heard the advice of real estate professionals, the media and market prognosticators outlining all the signs of the “positive housing market”. Some will feel it is a desperate push to revitalize home sales and get you in before it really bottoms out. Others will realize we don’t know where the bottom is until it’s passed. The signs are here, and the market is moving again. Stand on the side line or get into the game, it’s your choice; but if you are considering a move, what are you waiting for?

You can take advantage of affordable prices resulting from a down market, or use unprecedented incentives being offered in new construction to get the deal of a lifetime. Creative ideas such as buyer-protection warranties provide additional confidence to act now. Besides, historically low interest rates, government programs and first time buyer tax credits will end before you know it. Just remember, as someone once said, “Opportunities are never lost; someone will always take the one you miss!” Ask your qualified real estate professional for more information.

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

Long & Foster Press Release - "Buy Confident" Program

2009-04-15T15:09:00.000-07:00

April 9, 2009

BUY CONFIDENT WITH LONG & FOSTER®Announcing Long & Foster’s Job Loss Protection Program

Chantilly, VA — Long & Foster® Real Estate, Inc., the largest privately held residential real estate company in the U.S., announced today the implementation of a job loss protection program for homebuyers as an extension of their ongoing Buy Confident™ campaign.

“Although this is a great time to buy residential real estate for many, there’s still a lot to consider,” advises Mary K. Weddle, executive vice president of The Long & Foster® Companies, “In this uncertain market, be sure to have a good agent who can help you to fully assess your situation. Long & Foster is proud to be one of the first real estate companies to offer job loss protection to help buyers and sellers make real estate decisions with a greater degree of confidence.”

Many potential homebuyers are concerned about what might happen if they were to lose their job. Long & Foster’s new Job Loss Protection program, part of the service called HELP (Homeowner Education and Loan Protection) from the Rainy Day Foundation, will help to ease the worry. It’s paid for by the seller.

The Job Loss Protection portion of HELP will assist buyers who purchase a Long & Foster listing covered by Job Loss Protection in the event of an involuntary job loss within the first 24 months of the loan. The policy covers mortgage payments up to $1,800 per month for up to 6 months. HELP also offers six months of phone counseling and monthly educational e-newsletters. Job Loss Protection is an important and timely service that gives sellers a way to differentiate their property and give buyers the confidence to purchase.

The coverage is underwritten by Virginia Surety Company, Inc. that has an A-Excellent ranking by A.M. Best. Please see a Long & Foster agent for additional details. To locate an agent, visit longandfoster.com.

Long & Foster® Real Estate, Inc. is the largest privately held residential real estate company in the United States. The company is part of The Long & Foster® Companies, which also includes Prosperity Mortgage® Company; Long & Foster Insurance Agency, Inc.; and Long & Foster Settlement Services. Long & Foster Real Estate, Inc. represents more than 13,000 agents in seven Mid-Atlantic states, plus the District of Columbia. The company sold more than $26.4 billion worth of homes and 76,714 properties in 2008. The Long & Foster Companies 2008 combined sales for the year were in excess of $48.9 billion.

John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company

First Impressions – Your House & Your Yard

2009-04-08T12:18:00.000-07:00

In real estate, like most things in life, you never get a second chance to make a good first impression. Remember that first date in high school? Or perhaps like me you’d just as soon forget about it! Well, trust me; a lot of folks out there feel the same way about YOUR house the moment they drive up to it. Unlike that first date, however, they will simply turn around and get the heck out of there as quickly as possible. If that happens, there will be NO second date!

It may be true if you put lipstick on a pig, it’s still just a pig. But I believe a house is a little different – for the most part anyway. It seems to me (as my managing broker likes to say) that “for every doghouse there is a dog”, but some lipstick goes a long way toward getting them to sniff around it, especially if you want to sell quickly for the highest and best price.

I constantly tell sellers that, according to statistics, the greatest “bang for your buck” is in landscaping and the yard. Every year, house trends show the money you put into your yard has the greatest dollar for dollar return on your investment. The first thing you need to do is get the purchaser inside. If they see a manicured yard and a well maintained exterior, they have a tendency to be more forgiving with the interior space that may not meet all their needs.

So, start by getting someone involved in sprucing up the yard. There are a ton of eager landscapers and yard-upkeep companies that can come in and bang out some improvements in no time at all. Have a plan and commit to making it shine; really make a difference. Get a couple of bids, and you’ll be surprised how reasonable it is. Not to mention the fact that you don’t have to lift a finger.

I know men & women who like to putter in the yard, but this in not the time. Get professional assistance that will make a quick and immediate difference in your home’s curb appeal. You won’t regret coming home after a day at the office to find a finished product. Your house will look markedly different, and will appeal more to purchasers looking at other homes that haven’t been touched.

You’ve heard it a million times, but this is the first step to making a strong “first impression” about your property. Otherwise, forget about a second date!

For more insight, information and any questions on this and other important issues, please contact your most valued real estate professional, we are here to serve you!

Sources: John VanderSyde, Architect & Associate Broker, Virginia Properties, A Long & Foster Company

Inviting Signs of Hospitality

2009-04-08T10:56:00.000-07:00

The following came from a real estate agent friend of mine. I’m not sure of the actual source, but I like it enough to want to share it.

Often called the Colonial symbol of hospitality, the pineapple was once considered the most exotic of all tropical fruits that a seafaring captain could bring back home from his voyage to the islands of the West Indies. It is said that in New England a returning mariner would spear a pineapple on his front gate, thus announcing to friends and neighbors his return from the sea, and that all were welcomed to visit. Often friends would be invited over to sample a pineapple treat, which was seen as the warmest of welcomes. As a result, the pineapple has been an enduring symbol of hospitality ever since this tradition was established.

Why not share this friendly tale the next time you visit a neighbor with a brass pineapple door-knocker and see what results!

For more insight, information and any questions on this and other important issues, please contact your most valued real estate professional, we are here to serve you!

Sources: John VanderSyde, Architect & Associate Broker, Virginia Properties, A Long & Foster Company

Minimal Tool Box

2009-04-08T10:52:00.000-07:00

Old-hand homeowners assemble tool kits by adding items over the course of time, purchasing tools as needed for particular projects. Over a period of years, before you know it, the origin of a workshop has developed.

Novice homeowners, though, need a place to start. The price and quality range for tools is huge. If you intend to do only a little yourself, spend a little. If you plan to do more, spend more. Not all home owners are created equal, so be realistic in the jobs you choose to tackle. Permits may be necessary, and it’s a good idea to check with a professional contractor and the local authorities when considering larger jobs.

I love my tools and am particular about what I choose to buy. I am also realistic when it comes to price. I have found that tools in the mid-to upper price range are better than satisfactory for most work I do. Good quality tools will last a lifetime, and you don’t want to skimp. Always invest in fewer, better tools if you’re on a budget. Nevertheless, here’s the least you should have for handling minor household tasks.

CLAW HAMMER & NAILS: at least 16 oz hammer and a basic assortment of nails from the hardware store will tackle most projects. A 22 oz framing hammer is not what you need to get started, but it sure feels good in your hand.

PLIERS & WRENCH: slip-joint and an adjustable will do just fine; the more versatile they are the better off you will be. A moderate size pipe wrench may eventually find its way into your tool box as well.

SCREW DRIVERS: slot (flat-head) & Phillips-head in various sizes, but you can start with just two. Utility sets for unique fasteners may be necessary, but you can wait until the project requiring them comes along. Also see Drills below.

DRILL(s): you’ll wonder how you ever survived without and electric drill. This is one of the most versatile tools you can get, so I recommend investing on a decent hand held. I like the ones with rechargeable batteries, but if you don’t use it enough a good electric will be your best bet. I would also invest in a small set of drill bits as well as flat and Phillips-head drivers.

SAW(s): buy as you go depending on the job you’re tackling – there are tons. Get something for yard work & pruning. Also get a versatile handsaw for small interior jobs. If you do any kind of trim work I would suggest purchasing a good miter-saw; this will tackle most projects with precision. A sill-saw is essential for bigger projects, and a jig-saw for smaller and more delicate tasks.

MISCELLANEOUS ESSENTIALS: A 1” wide measuring tape, step ladder, extension cords, two foot level, bolts & anchors, scissors, utility knife, putty knife, string, tape and anything else that might come in handy

If you just purchased a home, or if you are looking for a great first-time homeowner gift, there are some fairly good utility kits available from your favorite hardware store. They usually include all the essentials. If you know someone who is particular, a gift certificate works nicely too; but remember, I’ve known folks to loose the entire day looking at tools & equipment, aimlessly wondering the isles of the hardware store. Have a plan when you go and stick to it. Enjoy!

For more insight, information and any questions on this and other important issues, please contact your most valued real estate professional, we are here to serve you!

Sources: John VanderSyde, Architect & Associate Broker, Virginia Properties, A Long & Foster Company

Richmond's Stonewall Court Neighborhood

2009-04-06T16:36:00.000-07:00

Stonewall Court – A Brief History

At the declaration of World War II in 1941, the nation was put on alert for foreign invasion. Over the entire country, on the East and West Coasts, groups were formed for the safety and protection of people in all communities. Men and women were selected from each neighborhood to form a Civil Defense Patrol.

In the Court, it was decided a meeting place had to be found where the workers could hold gatherings and to store equipment. One of my former listings, the dwelling known as 345 Lexington Road, was chosen because it had a basement, and was one of the few places that could be entered from the outside without going through the house.

Shelves and racks were installed in the basement to hold the steel helmets, special flashlights, stretchers, splints, and other first-aid equipment needed in emergencies. Thick black shades covered all the windows and doors of homes on the Court.

When Sirens wailed in the night, Wardens reported immediately to pick up their helmets and lights. Streets were patrolled to insure that no light was visible from any building and to verify that everyone was off the street.

The wardens stayed at their posts until the “all clear” signal was given. Then they returned to headquarters to replace the equipment (and perhaps socialize).

World War II ended with a community drawn closely together by a common interest. It was decided by the group that they should remain together, meeting in the same place, but calling themselves the Stonewall Court Civic Association.

The purpose of the new association was to further the community interest in civic affairs and to encourage a friendly relationship between all families.

The people who have come to live in the Court continue to picked up the torch by carrying on the ideals and sprit of the Air Raid Wardens of 1941. This is a vibrant neighborhood with a close, caring community; it is one of many in the area I am happy to represent!

[Information provided through the Stonewall Court Civic Association]

Underground Storage Tanks (USTs) – A Pebble NOT a Mountain

2009-03-31T15:44:00.000-07:00

The old town and surrounding post-war suburbs of many cities provides countless opportunities for the unexpected when selling and purchasing vintage homes. As an architect experienced in preservation and the renovation work of older structures, I have a tendency to look for the trouble spots of a building first. As a Realtor I’m conscience of trying not to find trouble, queer the deal, or get in the way of a contract. I do wish to protect my client’s interests while avoiding panic. Most of the time, problems that are detected can be remedied by not overreacting and understanding the facts.

I have found through my years in real estate that many agents are not well educated when it comes to Underground Storage Tanks – no disrespect intended, but a little education can make a difference. In most instances when a home owner tells the listing agent the house is supplied by gas or electric fuel they take them at their word and continue the interview about the property. The same thing happens when a buyer’s representative visits a property where the listing brochure indicates electric or gas fuel. When a tank is discovered agents are not sure how to respond and sometimes overreact unnecessarily.

Agent responsibility and culpability aside, often a good home inspector can tell if a home was once supplied with fuel oil. In some instances they can tell you if there still is or could possibly be an underground storage tank present. Evidence includes abandon supply lines, converted boiler units, concrete stains, exterior vent stacks or fill valves. It’s all a matter of knowing what evidence to look for in and around the home. This evidence may warrant further investigation by a purchaser. Once there is discovery, contacting a qualified, reputable environmental engineer is the next step.

There are instances of course where no evidence of a past UST is present; while the age of the house, typical neighborhood conditions, or the possibility of an above ground tank may indicate otherwise, we have to go on the documentation or word of the seller. In this case it’s up to the purchaser as to whether they wish to proceed with further testing or investigation – Virginia is a buyer-be-ware State.

The point to all this is that of discovering the point of responsibility, or the “Responsible Party” (RP). I have had several sellers come to me after discovery of a UST, saying “the agent who sold this property assured me there was no underground tank; how could there possibly be one now” or more likely “how could they possibly miss something you saw in five seconds”? Now they have become the State’s RP instead of the previous owner. This is unfortunate and unnecessary, and they are probably not too pleased with the agent who sold them the home.

The point of responsibility simply means the current owner of the property goes on record as the “Responsible Party” for the UST. It is unlikely if the tank is properly addressed, but they are the party the State will engage should something go wrong, now or in the future. John Pollard, of Pollard Environmental, LLC, states that 70% of the UST’s still in use have been found to be leaking; 80% of tanks abandoned are leaking or had leaked at some time. For more information about contamination and remediation you can visit their website.

Fortunately, Virginia has been proactive in the removal or remediation of UST’s. All of this started as part of the efforts to save the Chesapeake Bay through the “Chesapeake Bay Preservation Act of 1988”. While there is no legal requirement to have existing tanks inspected for leaks, it is in the best interest of purchasers to have them inspected. If a seller knows one is present, it is a matter of disclosure. The seller may as well have it tested and remediate it in accordance with Department of Environmental Quality (DEQ) recommendations. Local codes like the BOCA National Fire Prevention Code and the Uniform Statewide Building Code, as well as local ordnances, may also be applicable.

To assist the RP, there is currently financial assistance through the Virginia Petroleum Storage Tank Fund (VPSTF). There is a deductible of approximately $500 but the remainder of the work is covered by the Fund. Some remediation companies charge additionally for costs outside the Fund, but these costs should not be a “deal breaker”. After all, the goal is to sell the house.

UST’s are only one obstacle face by people working with older homes, but if you love established neighborhoods and the character of vintage architecture, this kind of thing should not prevent you from purchasing or selling a property. Speak to your professional Realtor, get another expert involved if necessary, kick the pebble off the path, and make the deal happen!

For more insight, information and any questions on this and other important issues, please contact your most valued real estate professional, we are here to serve you!

Sources: Virginia Department of Environmental Quality; Chesapeake Bay Act of 1998; Pollard Environmental, LLC

John VanderSyde, Associate Broker, Virginia Properties, A Long & Foster Company

Representation: Full Service vs. Limited Service - In Virginia

2009-03-31T15:34:00.000-07:00

I am a full service REALTOR® so I believe you should always seek Full Service representation when selling or purchasing a home. The benefits far out weigh the risks, and the security of having a true real estate professional’s guidance is worth the cost of this service. Why would you wish anything less for your most valued asset?

It used to be that “Discount” Brokers seemed to offer Sellers the same level of service that Full Service Brokers provide, but for less cost to you; now, in accordance with Virginia law, they must call themselves “Limited Service Representatives”. They must disclose what services you are or are not receiving, at whatever cost you agree to do business with them. Surprising to some, there is no guarantee a Seller will be saving money through a lack of representation. In fact, statistics show, in most cases they are leaving money on the table!

Limited service disclosure was legislated into effect on July 1st, 2007. Law makers felt it was necessary to eliminate any confusion that existed as to exactly what services one should expect to be provided in real estate by a limited service agent as defined in Virginia agency law. This law of “disclosure” requires limited service representatives to tell sellers they are contracting with exactly what services they will and will not provide to you.

A Limited Service Brokerage Agreement must include: a) a list of duties NOT provided; b) a list of duties TO BE Provided. They are also required to furnish sellers all required disclosure forms along with disclosure of all rights and obligations with regard to: 1) The Virginia Residential Property Disclosure; 2) Condominium Resale Certificates; 3) Property Owners’ Associations Act. Beyond these requirements, the Limited Service Representative may or may not submit property information to the area Multiple Listing Service, and a Seller should not expect to receive any representation with regard to the home they have on the market. One can pay more to get more from their menu of services, but you are otherwise on your own!

While this article is targeted at Sellers, the same applies for Purchasers believing a better deal is available without using a Realtor. This is most often not the case. It is customary for the commission to be negotiated with the Seller prior to a home being put on the market. A purchaser will receive no assistance from a listing agent. Further more, without representation most purchasers don’t know what to look for, what questions to ask, how to review and negotiate a contract, or what the actual value of a property is under current market conditions.

In contrast, the security of knowing you have a Full Service Real Estate Professional helping you is priceless. We are working on the job to serve you continuously from start to finish, and we know market trends. A Full Service provider will have a comprehensive plan of representation available to you along with their marketing plan for both Sellers and Purchasers. You’ll come out ahead more often when you work with a REALTOR® you trust!

For more insight, information and any questions on this and other important issues, please contact your most valued real estate professional, we are here to serve you!

Sources: Virginia Legislation (HB 316) Chapter 627 of the Code of Virginia; Central Virginia Regional MLS Limited Service Representation, CVRMLS_LSLA form REV. 6/07

John VanderSyde, Associate Broker, Virginia Properties, A Long & Foster Company

Opening Blog From InSydeHomes

2009-03-30T05:06:00.000-07:00

March 30, 2009 - Opening Blog From John VanderSyde, Associate Broker

It's a sunny, warm, spring morning; what better day could there be to get started with a new BLOG? There is certainly no better day to sell Real Estate!

Ann & John VanderSyde are Realtors with Virginia Properties, a Long & Foster Company, in Richmond, Virginia. You may visit our web site at www.InSydeHomes.com for a complete list of services and profiles. Please let us know if we can help you or someone you know with Real Estate in the Richmond Metro area!

Our Mission is to provide specialized professional service to our clients in order to reach all stated goals; we live through respect, ethics, accountability, and measure our success through your satisfaction.

Please look for more posts to come.