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Richmond, VA Real Estate News

By Marcus Rice, Richmond, NOVA, Virginia Beach Area Realtor/Broker
(Equity First Realty )
We're a full-service Virginia real estate company dedicated to saving our United States Armed Services clients lots of money, as well as providing incredible professional representation for armed services military clients and veterans serving all Virginia Military Bases. We can help you whether you're buying or selling a home. Basically, we give half our commission paycheck when you buy a home through us and we also protect our seller’s equity and profit margins by charging home sellers from 0% to 1.5% on the listing broker side no matter the price of their home. WE JUST WANT TO SAY THANK YOU! This is what we say to all those who have provided valiant service to our nation in United States Armed Forces. Whether you are currently on active duty at Virginia Military Bases, a wounded warri...
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By Marcus Rice, Richmond, NOVA, Virginia Beach Area Realtor/Broker
(Equity First Realty )
As a physician, you have worked for years to join the ranks of an elite few, and your hard work should be rewarded, not only professionally, but personally. That is why we have created the Virginia Doctors Homebuyer Rebate Program.Our Virginia Doctors Home Buyer Rebate Program includes:"1.5% Cash Back Rebate at Closing" You will receive a 1.5% cash back rebate of the sales price at closing from Equity First Realty®. That comes to 50% or half of the Realtors® commission check.  You can use your rebate towards your closing cost or receive a check at closing. Certain conditions apply.  Medical Professional Home Buyer Rebate Program - 1.5% Cash Back Real EstateIf you are former or active military, law enforcement, firefighters, health care providers, first responders, and/or teachers there ...
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By Marcus Rice, Richmond, NOVA, Virginia Beach Area Realtor/Broker
(Equity First Realty )
As a nurse, you have worked for years to join the ranks of an chosen few, and your hard work should be rewarded, not only professionally, but personally. That is why we have created the Nurses Home Buyer Rebate Program.Our Nurses Home Buyer Rebate Program includes:"1.5% Cash Back Rebate at Closing" You will receive a 1.5% cash back rebate of the sales price at closing from Equity First Realty®. That comes to 50% or half of the Realtors® commission check.  You can use your rebate towards your closing cost or receive a check at closing. Certain conditions apply.  Medical Professional Home Buyer Rebate Program - 1.5% Cash Back Real EstateIf you are former or active military, law enforcement, firefighters, health care providers, first responders, and/or teachers there are home buying and ho...
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By Marcus Rice, Richmond, NOVA, Virginia Beach Area Realtor/Broker
(Equity First Realty )
If you are former or active military, law enforcement, firefighters, health care providers, first responders, and/or teachers there are home buying and home selling savings programs just for you! The two programs Virginia Hometown Hero and Military Appreciation home savings programs will suit you and your family needs.                                    Virginia Hometown Heroes Home Buying Program: Dedicated to those who have risked their lives for our country, this savings program offers discounts during the real estate transaction process when buying or selling a home. This program offers assistance to firefighters, police officers and military personnel by working with housing providers to ensure favorable prices and loan terms. Equity First Realty's Virginia Hometown Hero Programs o...
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By Marcus Rice, Richmond, NOVA, Virginia Beach Area Realtor/Broker
(Equity First Realty )
If you are former or active military, law enforcement, firefighters, health care providers, first responders, and/or teachers there are home buying and home selling savings programs just for you! The two programs Virginia Hometown Hero and Military Appreciation home savings programs will suit you and your family needs.                                    Virginia Hometown Heroes Home Buying Program: Dedicated to those who have risked their lives for our country, this savings program offers discounts during the real estate transaction process when buying or selling a home. This program offers assistance to firefighters, police officers and military personnel by working with housing providers to ensure favorable prices and loan terms. Equity First Realty's Virginia Hometown Hero Programs o...
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By Marcus Rice, Richmond, NOVA, Virginia Beach Area Realtor/Broker
(Equity First Realty )
VHDA’s New 3% Down Payment Assistance Grant can help qualified first-time homebuyers obtain funds to buy a home.Qualified buyers may receive up to 3 percent of the purchase price, to help with the down payment on their first home.Buyers must have household incomes at or below program limits.Down Payment Assistance Grant may be used with only the following VHDA purchase programs: Conventional, FHA and Fannie Mae No MI.Grant funds may not be used in combination with other down payment assistance resources (including FHA Plus).Down Payment Assistance Grant has no repayment (no note or deed of trust).VHDA's first mortgage must be locked on or after March 12, 2015. Funds are available on a first-come, first-served basis.Get a cash back real estate rebate when buying your home. If you are loo...
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By Valorie L. Easter, Valorie Easter & Co, Charlottesville/Albemarle Rea
(eXp Realty)
To many people this may seem like a silly question but the truth is scientists agree that time travel is possible. In fact, the great Albert Einstein himself discovered that the faster you travel through space, the slower time is for you. You wouldn’t know it at the time but when you returned to earth, you would actually be far in the future! As an example, let’s say you left the earth when you were 15 years old and your spaceship was travelling at 99.5% the speed of light (the faster your speed, the greater the time difference when you return). If you returned when you were 20 you would have been gone for 5 years, right? Well, not exactly. You would indeed be 20 years old but your friends of the same age would be 65! Believe it or not, this is a proven fact even if it is hard to compre...
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By Marcus Rice, Richmond, NOVA, Virginia Beach Area Realtor/Broker
(Equity First Realty )
Is the real estate brokerage commission rebate legal in Virginia?One of the questions o frequently get from my clients is whether the real estste brokerage commission is legal in Virginia. It’s the most common question we receive as many people think there is something shady or its some sort of illegal kick-back when an agent offering a rebate of the commission.  But it’s not, rebates are legal in 40 states and if you would like to read more we suggest reviewing this link on the US Department of Justice’s website that spells it out clearly.  Many real estate agents would like you to think just that, as they don’t believe in reducing their commissions.If you think about it, the commission paid on the sale of a home is really a part of the cost of the home.  So receiving a rebate on the h...
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By Valorie L. Easter, Valorie Easter & Co, Charlottesville/Albemarle Rea
(eXp Realty)
Did you ever wonder how your electric bill compares to people that live in other parts of the country? The average U.S. home uses 908 Kwh (kilowatt-hours) per month at a cost of 12 cents each, or, $108.96 but that can vary greatly depending upon your exact location and of course, your local climate.  Idaho is the least expensive state with a cost of about 8 cents per kWh while Hawaii is the most expensive at a whopping 33 cents per kWh. Compared to the monthly U.S. average of only $108 a month, the average Hawaiian resident would pay approximately $300 for the same amount of usage while residents of Idaho would be paying only $73. That equates to a difference of $2,724 a year between the 2 states.  Below is a chart of all 51 states and their average cost of electricity per kWh:   http:/...
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By Marcus Rice, Richmond, NOVA, Virginia Beach Area Realtor/Broker
(Equity First Realty )
Home Buyer Rebates Give You Cash Back in Glen Allen, VAWant more money in your pocket for closing? How about being able to afford a bigger/nicer Glen Allen VA home? Now Equity First Realty Gives YOU Cash Back Buyer Rebates at ClosingBuyer rebates give you cash back at closing. If you have ever wondered how cash back rebates work for real estate, here is the inside scoop…When real estate agents sell a property, they usually collect a commission of between 2.5% and 3% of the property's gross sales price. So, on a $300,000 house, that would mean a commission of $9,000.00 to the selling broker. But many of today's home buyers are clearly willing and (with the Internet) able to search for and locate their own properties without relying on the agent to find houses for sale for them. For doing...
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By Marcus Rice, Richmond, NOVA, Virginia Beach Area Realtor/Broker
(Equity First Realty )
Home Buyer Rebates Give You Cash Back in Henrico County, VAWant more money in your pocket for closing? How about being able to afford a bigger/nicer Henrico CountyVA home? Now Equity First Realty Gives YOU Cash Back Buyer Rebates at ClosingBuyer rebates give you cash back at closing. If you have ever wondered how cash back rebates work for real estate, here is the inside scoop…When real estate agents sell a property, they usually collect a commission of between 2.5% and 3% of the property's gross sales price. So, on a $300,000 house, that would mean a commission of $9,000.00 to the selling broker. But many of today's home buyers are clearly willing and (with the Internet) able to search for and locate their own properties without relying on the agent to find houses for sale for them. Fo...
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By Marcus Rice, Richmond, NOVA, Virginia Beach Area Realtor/Broker
(Equity First Realty )
Home Buyer Rebates Give You Cash Back in RICHMOND, VAWant more money in your pocket for closing? How about being able to afford a bigger/nicer RICHMOND, VA home? Now Equity First Realty Gives YOU Cash Back Buyer Rebates at ClosingBuyer rebates give you cash back at closing. If you have ever wondered how cash back rebates work for real estate, here is the inside scoop…When real estate agents sell a property, they usually collect a commission of between 2.5% and 3% of the property's gross sales price. So, on a $300,000 house, that would mean a commission of $9,000.00 to the selling broker. But many of today's home buyers are clearly willing and (with the Internet) able to search for and locate their own properties without relying on the agent to find houses for sale for them. For doing so...
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By Marcus Rice, Richmond, NOVA, Virginia Beach Area Realtor/Broker
(Equity First Realty )
Many people like to buy a newly built home so they have a say in the options and amenities. Unfortunately, new home construction costs and all the available upgrades can add up.When deciding what to choose now and what to hold off on in the future, there are some key choices that will save you money up front and in the long run. The most important thing to focus on as you build or choose a newly built home is the shell — windows, doors, ceilings, skylights. Some of the specific ways to keep new home construction costs down include: Opting for a smaller lot.  If you choose a smaller lot, you’ll save money. If you prefer a small back yard, maintenance costs in the long run will also help you save money. Making sure the floor plan is efficient. The more square footage, the higher the price...
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By Marcus Rice, Richmond, NOVA, Virginia Beach Area Realtor/Broker
(Equity First Realty )
Sell Your House For Free With Our 0% Listing Fee, Save Thousands!Save Your Equity! Doesn’t that sound like a great option to have when you sell your home? Wouldn’t you like to have extra money from the sale of your home for your vacation, retirement, investment portfolio or even new furniture for your new home? This can be done when you list your home with Equity First Realty and buy your next home with us!*Many homeowners think about selling their homes for new and different neighborhoods, but may change their minds due to extra costs associated with selling.We understand completely. But we don’t believe that you should sacrifice your dreams for dollars. That’s why we’ve built our company on the foundation of helping our customers save their equity for their own needs - by foregoing ou...
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By Marcus Rice, Richmond, NOVA, Virginia Beach Area Realtor/Broker
(Equity First Realty )
 Get a cash back real estate rebate when buying your home. If you are looking to buy a home in Richmond Virginia, then why not get a cash back home rebate? Just like retail product promotions for rebates where you get money back after you purchase a product, you too can get cash back on your home purchase! Equity First Realty offers to 1% or 1.5% of our real estate commission with buyers that use us as their representative in their real estate transactions. We are your premier Richmond Virginia Discount Real Estate Broker!The Internet has changed the way real estate is bought and sold. Today's consumers have information at their fingertips. That saves us time and money and we pass those savings along to you with a Home Buyer Real Estate Rebate.1% or 1.5% the commission we earn goes back...
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By Marcus Rice, Richmond, NOVA, Virginia Beach Area Realtor/Broker
(Equity First Realty )
Are Commission Rebates Legal in Virginia?Many home buyers are not only unfamiliar with the concept of real estate commission rebates, but remain unsure whether commission rebates (sometimes called “credits” or “refund” or “cash back”) are even legal in Virginia. I’ve run across the same questions time and time again from home buyers on this topic…Where does the money come from? How does a rebate work? Will a rebate effect the price I pay for the home? Now for the answers YES-commission rebates are legal in Virginia. The money comes from the seller’s agent who offers the buyer’s agent a predetermined commission amount (typically 3%), agreed upon with the seller at the time the property is listed. The buyer’s agent rebates a portion of their commission to their client (buyer). Rebates DO ...
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By Marcus Rice, Richmond, NOVA, Virginia Beach Area Realtor/Broker
(Equity First Realty )
Are Virginia Real Estate Rebates Legal?It’s the most common question we receive as many people think there is something shady or its some sort of illegal kick-back when an agent offering a rebate of the commission.    But it’s not, rebates are legal in 40 states and if you would like to read more we suggest reviewing this link on the US Department of Justice’s website that spells it out clearly.  Many real estate agents would like you to think just that, as they don’t believe in reducing their commissions.If you think about it, the commission paid on the sale of a home is really a part of the cost of the home.  So receiving a rebate on the home you purchase is not that much different than receiving a rebate on an electronic device or home appliance you buy at a retailer (the only differ...
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By Marcus Rice, Richmond, NOVA, Virginia Beach Area Realtor/Broker
(Equity First Realty )
Virginia Home Buyer Commission Rebates Regulated by the Virginia Department of Professional and Occupational Regulations (click here) and the U.S. Department of Justice: http://www.justice.gov/atr/public/real_estate/rebates.html. Rebate Fee Negotiating Tips1.    Do not work with an agent unless a fee agreement has been negotiated first.2.    Do not agree to pay any junk fees to the broker.  Many agreements contain fine print that includes things such as "broker administration fees" or commissions.  Do not agree to pay these.3.    Make sure that your fee agreement states that all seller bonuses or extra fees goes to you and not your broker.4.    Make sure that your fee agreement states that no referral fees are being paid or received. Receive 50% of our Commission Check When BuyingYour N...
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By Shane Lott
(Lott Realty Group at Rashkind Saunders & Co.)
What is a pre-listing appointment?  With snow on the ground and almost 3 months of their home being on the market with another agent, an email pops up in my inbox …. “Shane, we’ve had very little traffic and not a single offer.  Can you come talk to us about listing our home and getting it sold?”  Well of course I can!  So I schedule a pre-listing appointment with the owners. They weren’t ready to put their house back on the market yet but were looking for feedback on what, if anything, needed to be done to get it market-ready.  That pre-listing meeting ended with a “honey-do” list of things to do to get their home in shape for putting it back on the market with me.  While the list wasn’t short, it wasn’t a costly list. The majority of things were “sweat equity” items. It included thing...
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By Shane Lott
(Lott Realty Group at Rashkind Saunders & Co.)
2015 Q2 Museum District Quarterly Real Estate Report It continues to be a sellers market in the Museum District during the 2nd quarter.  We were all thrilled to see more transactions in the 2nd quarter and hope that the trend continues throughout the rest of the summer and into the fall. Here’s how the 2nd quarter finished for single family homes in the Museum District:    If you currently own a home in the Museum District, now could be a great time for you to sell. Inventory continues to be low and homes are selling quickly.  If your home is correctly priced based on the current market comps, you should expect it to move quickly and potentially above asking price. If you are on the other side of the table and looking to get into the Museum District, it’s not all doom and gloom. Rest as...
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