Rising Trends, Improving Conditions in Real Estate

If you don’t think things are changing in the real estate housing market, well think again! It’s easy to get caught up in media reports the most recent real estate market statistics that point to improving sales conditions in the Richmond Metropolitan area and believe home sales are getting better. After all, it’s just more of the cautious optimism that’s been keeping us going for the last three or four years, right? On the other hand, recent activity indicates genuine change has arrived. Of course some areas will lag behind others as the market picks up, but Realtors can sense the new mood wafting across the plains.

Market activity has been on the increase since at least November 2011. Our individual numbers as well as every stat tracking real property transfers confirms it. Nevertheless, real estate professionals have been cautiously monitoring trends to see if conditions were actually improving, or if perhaps this was simply another market teaser. It is one thing to watch the numbers reportedly go up, but quite another to see actual behavioral change.

Just last weekend we called to schedule an appointment to visit a home in the west end of Richmond. There were so many appointments we could not be accommodated. It didn’t matter that we were willing to wait another day to see it because the seller received so many contracts on the first day they discontinued showings and agreed to work with one of the offers submitted the first day. WOW! You might say this is just one story, but it’s not. We are hearing about other interactions similar to this where multiple offers have been generated. But of course the good ones will always sell fast!

This may not be the norm, but it most assuredly points to distinctive change in the attitudes of people ready, willing and able to buy a home. With dwindling inventory, improved market conditions, historically affordable interest rates, I would not be surprised to see more interesting stories like this one that point to a changing real estate market for 2012.


Ann & John VanderSyde, Associate Brokers – Virginia Properties, A long & Foster Company “2009, 2010 & 2011 Sales Team of the Year” (804) 287-4660 www.InSydeHomes.com “HOME is a Lifestyle Choice!”

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

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

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

Should I buy at the top of my price range?

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 There No Winning in Today’s Housing Market?

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

Is Now a Good Time to Buy Real Estate?

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

First Impressions – Your House & Your Yard

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

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

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

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

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

Opening Blog From InSydeHomes

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.