The last three years have been a great seller's market here in Richmond, VA and probably most of the country.  Inventory has been very low, and we have seen houses swept off of the market in less than a day with multiple offers increasing the contract price over list price.  The market has shifted slightly in Richmond, VA, but there are still areas where the competitiion is fierce.  As a buyer, how do I win the house of my dreams in one of these areas that continually has multiple offers?  The first thing you want to do is get yourself an experienced Realtor.  Don't just go with your sister's friend because she is new in the business and needs a sale.  The next thing you will need to do is get yourself a solid local lender.  Your Realtor should have a list of lenders and contact informa... 04/30/2019

If you are a first time home buyer in Richmond, VA you should read this blog post.  I am going to break down the home buying process for Richmond real estate.  The first thing you will want to do before anything is get pre-qualified, preferably by a local lender.  Why a local lender?  They are easier to get in contact with when you need them.  They will also use local appraisers that are familiar with the real estate market in Richmond. As your local Richmond realtor, I can give you referrals to a few different lenders, but you can use any lender.  There are a few reasons you want to get pre-qualified.  You don't want to sell yourself short and not get everything you want in a home.  You also don't want to be looking at homes that may be above your budget.  Getting pre-qualified gives y... 04/30/2019

The Richmond Real Estate Market is on fire!  The interest rates are still very low, which means a lot of first time home buyers are thinking about buying a home.  For the first time home buyer, the question is,"how much money do I need to have to buy a home?"  That's a great question, and it all depends.  When our parents were purchasing a home, they probably had to have 20% of the purchase price of the home to put down as a deposit.  This is no longer the case, but a lot of people still think you have to have 20% down.  There are several different loan products out there.  There are VHDA loans that are 0% down payment.  You have to qualify with your credit, and there is an income requirement.  If you make too much money, you may not qualify.  There are FHA loans that require a 3.5% dow... 04/30/2019

Buying your first home can be a stressful experience.  As a first time home buyer,  you want to make sure to do some research before you jump in head first.  We have compiled a list of things to avoid when you are a first time home buyer.  1.  Thinking you won’t qualify for a home loan.  Many potential first time home buyers don’t even try to purchase a home because they think they won’t qualify.  There are a lot of first time home buyer loans that are designed specifically for the first time home buyer.  If you are interested in purchasing a home, check with a few local lenders to see if you qualify.  The worst they can say is no.  2.  Not getting pre-qualified before you start searching for a home.   First time home buyer pre-qualificationThe last thing you want to, as a first time ho... 04/30/2019

The neighborhoods of Northside in Richmond include northern Richmond and some parts of Henrico.  These neighborhoods include Bellevue, Barton Heights, Ginter Park, Chestnut Hill Plateau, Rosedale, Washington Park, Highland Park, Sherwood Park, Hermitage Rd, Brooklyn Park, Montrose, and many more.  The neighborhood of Northside Richmond began in the late 1800's and can be credited to philanthropist Lewis Ginter and planned by Frederick Law Olmstead Sr. The intent was to have streetcar transportation for businessmen to retreat from the city to the suburbs.  The project was not fully realized because of the depression, and most of the houses were constructed from the 1920's to the 1940's.  There has been a revitalization in Northside over the few years, and the Northside is now one of the ... 04/30/2019

2018: A Year in Review for Fan District Real Estate As we close out another year, I always like to take a look back in the rear view mirror to see how things wrapped up ... and how they compared to previous years. While real estate changes each year (heck sometimes it feels like weekly), it's always critical to keep an eye on trends and where the market is heading.   THE SHORT VERSIONThe Fan District real estate market continued to be strong in 2018.  Another year that we were faced with limited inventory and a strong demand from buyers, which worked towards most sellers advantage.  There were less sales in 2018, but that was driven by inventory, not demand.    YEAR OVER YEAR COMPARISON WHAT YOU DON'T SEE IN THE FIGURES ABOVEYes, to most buyers and sellers final purchase price is the mo... 02/08/2019

 Virginia First Time Homebuyer Rebate ProgramGet a cash back real estate rebate when buying your next home in Virginia. Recently Marcus Rice with Equity First Realty was proud to give another cash back rebate check to Mr. Weschler. This First Time Homebuyer qualified for our Equity First Realty Cashback Rebate Program. Congratulations Mr. Weschler.  Get a cash back real estate rebate when buying your next home with Equity First Realty®. Receive thousands of dollars at closing with our award winning program! Want more money in your pocket for closing? How about being able to afford a bigger/nicer Virginia home? Well, you can with Equity First Realty®! Equity First Realty Now Gives YOU Cash Back Buyer Rebates at Closing!Buyer rebates that give you cash back at closing?! If you have ever w... 03/28/2018

2017 was a FAN-tastic year- Fan District Real Estate -  Well maybe the title is a little deceiving. It should probably say, "2017 was a FAN-tastic year for Fan District Real estate ... if you already own property or were selling your Fan home." If you were/are trying to buy a home within the Fan, it could have been a challenging year.DATA JUNKIESo as we wrap up another year, I always like to sit back and take a look at the market with my data-glasses on. And you all know that I love me some data! Throughout the year I've watched prices rise with limited inventory, but it's not until I sit down and run the numbers that you get the full story. 2017 HIGHLIGHTSAverage Sales Price INCREASED $44,403 / 7.3%, Average Price Per Square Foot INCREASED  $12 / 5.5%  Days on market INCREASED by 2 day... 01/17/2018

Fan District Real Estate Report: Q3 2017 We've officially breezed into October! With that,  here is the much anticipated Fan District Real Estate Report.  For all you fact checkers out there, it's only for single family homes and does not include multi-family or condos. JUST THE FACTSSource: CVRMLS  INVENTORYI'm starting to feel like a broken record! Low inventory, low inventory, blah, blah, blah. Did I mention that inventory is still low? We keep wondering when the market is going to shift, but we haven't seen it (yet) in the Fan.  For now, demand is high and inventory is low.  So your high school economics professor was correct ... prices are up!Right now there are only 7 homes available in MLS. Prices range from $389,000 to $1,699,500    WHAT YOU CAN'T SEEWhat you can't see in all th... 10/03/2017

 2706 Barton Ave. Richmond, VA 23222Impossible to find a foursquare home in the heart of Richmond with renovated kitchen and bath, plus a detached space for an art studio, music studio, or workshop? Well, the search is over! Welcome home to 2706 Barton Ave. Richmond, VA 23233. Details on 2706 Barton Ave. Richmond, VA 23233When you arrive you will fall in love with the charming front porch with a painted blue ceiling, a nod to a Southern tradition of warding off spirits! In addition, you will admire the beautiful garden beds which make farm-to-table meals a cinch! Swing open the red painted door and behold the grand foyer featuring opulent moulding details, a stunning light fixture, and amazing hardwood floors that run throughout most of the home! To your left original pocket doors will ... 05/18/2017

Moving to Richmond? 11 Reasons Why That's an Awesome IdeaHave you been thinking about moving to Richmond? In 2016, Zillow declared Richmond the “4th Hottest Housing Market”, while the Huffington Post proclaimed Richmond as one of the “Ten Best Cities to Relocate to in the U.S.” in 2015! Why? What do they know that you don’t know? Well, that’s exactly what we are going to take a look at in this article, so read on for the 11 reasons why moving to Richmond is an awesome idea!Before we elaborate on all of this awesomeness, let’s take a look at some interesting stats about Richmond, Virginia, locally referred to as RVA: Population: 1.3 million. Unemployment Rate: 4.1% Average Sales Price for a Home: $248,808 Average Household Income: $60,713 Now, about all those reasons on why moving to Ric... 05/12/2017

2016 Fan District Real Estate Report Well, 2016 is officially behind us!  And as we push forward into 2017, it's always a great time to take a sneak peak in our rear view mirrors to see how things shook out in 2016.  Admittiedly, I'm a data junkie so this stuff gets me pretty excited. I keep a pretty close eye the sales each week but it was especially impactful for me to lay the data next to 2015 (which was a great year as well). Another set of data point to remind us how strong the market is now. So without further ado {insert drum room} ....Here is snap shot of 2016 Sales in the Fan District (for single family homes), as well as how 2016 stacked up to 2015:*only includes sales from CVRMLS  HIGHLIGHTS of 2016 FAN DISTRICT REAL ESTATE:- Average Sales Price INCREASED $46,000 / 8+%, in 20... 02/02/2017

2016 Q2 Fan District Real Estate Report Well, that's a wrap - the Fan's 2016 Spring Real Estate Market is officially behind us! And we are well into the Summer market, along with triple digit temperatures outside ... and dreaming of cooler Spring days in the Fan. Here is how single-family home sales finished up in the Fan District for both Q2 and YTD: A WILD RIDEIt was (and continues to be) a wild and exciting real estate market in the Fan District, especially for sellers. For sellers that were market-priced, they often were presented with multiple offers and escalation clauses.  Now buyers on the other hand, were challenged with limited inventory and lots of competition. But historically low interest rates still have provided buyers something to smile about. SUMMER MARKETWhile inventor... 07/29/2016

2016 Q1 Fan District Real Estate ReportSpring is finally in the air here in the Fan District in Richmond, Virginia- and it looks like it's here to stay!  As I stop to catch my breath for a second, I wanted to share the sales figures for the first quarter of 2016.   FAN DISTRICT SINGLE FAMILY HOME SALES: As we are well into the Spring market now, 46 DOM (Days on Market) might not seem that impressive. But like most things, the devil is in the details.  There were a number of homes that took in excess of 100 days to sell, which brought up the DOM figure. DAYS ON MARKET VS. HOURS ON MARKETCurrently we are seeing homes that are price well, in good condition going under contract in days, and sometimes within in hours after the first showings.  It is not uncommon to see multiple offers very q... 04/18/2016

How did Richmond, VA get its name? Richmond is a masculine name and is pronounced rich-mond. It is of Old French origin. It means "a rich hill". There are other opinions about the origin of the word Richmond. It could also be of the Old German origin, in which case it means "powerful protector".Richmond is also the capital town Swaledale in France and was originally called Hindrelac. The name Richmond was later changed to Riche-Monte which means a strong-hill. The site of Richmond, was initially settled by English settlers from Jamestown in 1609. Prior to 1607, the Powhatan Indian tribe lived in the region. The current day city of Richmond was founded in 1737. Richmond became the capital of the Colony of Virginia in 1780.                                                                 ... 04/03/2016

Five Mistakes People Make When Selling a HomeThe Richmond VA real estate market is tight on inventory at the moment with just a measly 4 month supply. This indicates a true sellers market.  We are seeing properties go under contract in just hours in the high-demand areas and even multiple offers with escalation clauses. If you currently are on the market and have not sold, there is an issue. Ask yourself if you are making one of these five mistakes people make when selling a home.Over-Price Your Property and Be Prepared to Chase Down the MarketI know what you are thinking, "real estate agents always say it is price." Well, that's because most of the time IT IS PRICE. Think back to when you had your listing appointment with your Realtor. Did they indicate your house should be worth less ... 02/29/2016

 Equity First Realty's 1.5% Home Buyer Rebate ProgramEquity First Realty also offers a 1.5% Cashback Rebate at closing when buying resale or new construction homes or land in the State of Virginia. Received thousands when buying your next home with Equity First Realty! Please see diagram to the right and watch videos below to learn more about this award winning program. Equity First Realty also understands that saving money for a down payment and closing costs is one of the most challenging aspects of the home buying process. Partnering with various banks allows us to offer a variety of cost assistance programs and open doors for more homebuyers through our partner banks. The programs allow buyers to put money towards a down payment and closing costs through our various banking vendors.... 02/28/2016

 Richmond Virginia Home Buying Grants and Down Payment Programs 2016Equity First Realty understands that saving money for a down payment and closing costs is one of the most challenging aspects of the home buying process. Partnering with various banks allows us to offer a variety of cost assistance programs and open doors for more homebuyers through our partner banks. The programs allow buyers to put money towards a down payment and closing costs through our various banking vendors.What’s currently offered through our banking vendors?• Up to $5,000 for first-time buyers.• Up to $7,500 for community partners: law enforcement, firefighters, healthcare professionals, or educators.• Up to $7,500 for veterans and service members. The Veteran’s Purchase Program assists buyers who are currentl... 02/14/2016

Do I Need a Real Estate Agent?You've come online, found the house you want to purchase, secured your mortgage with a lender already, and have even pulled comps to have a pretty good idea of what your dream home is worth. You are probably asking yourself, do I need a real estate agent? Yes, and let's take a look WHY.Richmond VA Real Estate Agent as a SherpaThe other night I sat down to watch a movie with my husband. "Everest" happened to be on, you know the one starring Josh Brolin and Jake Gyllenhaal? It is a fantastic movie that illustrates the challenges and risks one takes when attempting to fulfill this goal. Well, a real estate transaction is much like climbing Everest with conditions changing on a dime and pitfalls you can't always see. That is, unless, you have a Sherpa to guide ... 02/05/2016

Getting Your Offer Accepted in Richmond VA Real Estate Market  Recently Zillow named Richmond, Virginia as one of the hottest housing markets for 2016. This is due to the fact that Richmond is enjoying a low unemployment rate and is seeing strong income growth. Hey, we will take it! But, what does this mean for you as a buyer looking to purchase a home in RVA? When a market is hot and inventory is low, competition is high. You MUST make your offer stand out from the crowd. How do you go about getting your offer accepted in Richmond VA real estate market? Let’s examine: Make a Clean Offer If you find yourself in a multiple bid situation for your dream home, now is not the time to complicate things. Make sure you, with the assistance of your Richmond VA Realtor, make a clean offer. This c... 02/02/2016