It depends on what your goals are. But remember, just because a home is a foreclosure, doesn’t mean it is a good deal. A foreclosure is nothing more than a repossessed house whose value can be excellent, mediocre, or poor. With any home, foreclosure or otherwise, making an intelligent decision comes from making a purchase […]
I think it is, especially for older homes. Unless you have a strong contracting background, waiving inspections is a dangerous game. A better idea would be to agree to absorb the first $x of inspection items that are found to make sure that you don’t unknowingly bite off a $10,000 (or more) structural issue. In […]
Many times, you will see ‘home warranty’ referenced in remarks about a home. This refers to is a warranty that can be purchased to warrant the systems of a home for generally a period of one year. Home warranties can be purchased by the seller of a home and transferred to the purchaser at closing. […]
Tax abatement is a program available in the City of Richmond that reduces the real estate taxes due on a property for a finite period of time. The Abatement program can be used by those who improve the values home through renovation. The best way to think of the abatement program is to imagine that […]
There are so many things to consider, but probably the most important is the long term goal. If you are interest in cash flow, then a more moderately priced home tends to cash flow a bit better, but a more expensive home may appreciate faster and sell more quickly when you need to divest of […]
We like a lot of neighborhoods — and we can help you understand the market drivers for each. At the end of the day, the best neighborhoods are the ones that work best for our clients. Hopefully, our experience and insight can be used to help you understand how to best fit your needs with […]
Absolutely, but not for any other reason than they are great operators and true professionals. There is a perception that may agents will send clients to the service providers who give us kickbacks — this notion is archaic as it is untrue. Kickbacks are illegal and the idea of putting our careers at risk for […]
I don’t think anyone knows their exact algorithm but it combines sales data, assessment data, asking prices (yes, they use asking prices) and economic data. Their estimates can also be manipulated by adding or subtracting upgrades. If you click through a bit, you can find their accuracy charts — which lets you know that they […]
The best way to think of a contingency is as an ‘if’ in your contract. ‘If I am able to sell my house, then I will by yours’ is a contingent contract ‘If I am able to obtain a mortgage, then I will buy yours’ is a contract contingent on financing ‘If the home appraises […]
When long term rates (i.e. 30 year mortgages) are below 6%, it kind of makes the choice obvious — the 30 year fixed rate makes the most sense in most cases. But as rates begin to creep into the 6’s and above, the appeal of hybrid and adjustable mortgages will increase. Why? Because very few of […]