Real Estate Blog | Page #2

Torn between buying or renting? Interested in purchasing your first home? Buying a home for the first time can be a major decision as you are investing into your future. Check out our tips for a first time home buyer!

1. Start Saving and Get Pre-Approved.

First time home buyers should always obtain financing preapproval from a lender before house hunting to better understand how much home they can afford and what loan product will be best for their financial situation. Have your lender research grant products that might reduce closing costs. If you are house hunting in the Commonwealth of Virginia, you may be eligible for a Virginia Housing (VHDA) housing grant to help you get the home of your dreams.

Always consider the cost of items that…

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Selling your home can be an exciting and stressful process. Everyone wishes that it would be as easy as putting your home up for sale, receiving a bunch of showings and getting the offer you wanted. The thing you dread the most is a slow sale process, especially when you are on a strict timeline and there is a hot market. It makes you begin to wonder, why isn't my home selling?

 It is always important to get down to the root of the problem considering the following factors of why you are not getting an offer on your home. 

1.  Your Home is Priced Too High

To avoid overpricing your home, your realtor should sit down with you and examine comparable sales. Take into consideration flaws, schools, location to compare to similar homes that have…

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Home inspections are an important part of the home buying process. It is an opportunity for the buyer to get a high level picture of the homes condition and health. This allows you to make an informed request for repairs or repair credit when negotiating the continuation of the purchase contract. The licensed home inspector evaluates the home the buyer just purchased, it usually takes approximately 2 to 3 hours. The home inspection is usually scheduled during the first week after Purchase Contract Ratification.

What is the role of the Home Inspector?

Home inspectors are trained to look at systems, safety issues and identify potential problems. Their role is to determine if there are any safety concerns or repairs needed that may not be visible…

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Summer is the best time to go outside and enjoy the beautiful weather while also maintaining social distancing. Within the Richmond and Midlothian area, there are many trails to take advantage of to get some exercise and fresh air. We've included some of the Rick Cox Realty Group's favorite parks for walking and hiking trails below. Check out each parks website for trail maps, list of amenities and accommodations to help you get the best out of your outdoor adventure!

  • Mid-lothian Mines Park  - Woolridge Road

Trails showcasing the cut stone ruins of mines surrounded by the woodland commemorating those who started the U.S. Industrial Revolution.

https://www.midlomines.org/

 

  • Belle Isle - Tredegar Street

Richmond's most…

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For many renters, the transition of owning a home can be a major decision that will impact personal finances and can sometimes add stress. Although, renting seems hassle free, the benefits of owning a home can also be a great investment. Owning a home is a long term financial commitment that can pay off with the right knowledge and care. If you look at owning a home as an investment and tax deduction your future returns and retirement can benefit from that mindset. Ultimately, whether you rent or purchase a home, here are some data and comparisons of both to help you make your decision.

 According to this case study from This Realty Matters, “Over the course of a year, a $1600/month renter would have spent $19,200 on rent. On the other hand, a…

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A seller's market is most notably marked by a lack of inventory. Less supply=sellers' market. Despite Covid-19, we are finding that we are still in a sellers' market. The number of days on market is generally very few, and in the lower price ranges in particular (under $300k), sellers are receiving multiple offers and homes are selling for over list price. As a buyer, the way to navigate this is to put yourself in the best position possible to compete in a situation where there may be multiple buyers attracted to the area and price range where you are looking. Some ways to do this are to - 

  1. Once you have made the decision to look for a new home, get started in the process. If you are looking for a specific type of home or area, practice patience…

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With low inventory in a ‘Sellers’ Market’, Buyers are turning to new construction to design their dream home. The biggest question you might have as a buyer is ‘where do I start’? Partnering with a Realtor for new construction can be a huge advantage in not only answering your questions on New Construction but being an advocate on your behalf.

 Previous Built up Experience working with Various Builders

Hiring a buyer’s agent that has experience dealing with builders and are familiar with the local community can be advantages to you, as a buyer. Our real estate team has worked with many builders across the community and can pair you with the ones that we trust and fit your style. We are also highly knowledgeable and can recommend lots,…

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The Rick Cox Realty Group has always committed to excellence and professionalism, setting the bar at providing only the highest level of real estate service, even during these trying times. We will continue to serve future and current clients while keeping everyone’s safety in mind.  We are setting up our capabilities to serve you virtually through the following –

Virtual Home Evaluations & Appointments

We are expanding our capabilities to meet with those virtually through Video Chat for consultations on Selling or Buying a home. If you are interested in setting up one, please reach out to us at 804 920 1738 or via email rick@rickcoxrealty.com

Virtual Open Houses & Walkthroughs

 For our listings we are offering virtual open houses that…

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During these different times, many local businesses need the support of their local communities to hold strong. The Rick Cox Realty Group is a strong advocate of local businesses and has put together a resource for all families to use for alternatives so that they can still enjoy local cuisine, while also safely supporting local businesses in our community.

Also, this week (March 30th - April 5th) has been established as Virginia is For Lovers Takeout Week. Order from your favorite restaurant or try something new from our list that includes their discounts and promotions. 

  • Pakwaan Indian Cuisine - Takeout Generally open except from 3pm-5pm
    • Offering Quick Lunch Meals and Full Menu
    • https://www.pakwaanva.com/ 

 

  • Four…

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As Read Across America was celebrated this past week, many schools, libraries and book stores celebrated the importance of literacy in our lives. Read Across America Week was kicked off with Dr. Seuss Day, an author that wrote over 60 of our children's favorite storybooks. The NEA, National Education Association, sponsors this event every year to motivate children to read and grow a passion in literature. In order to find a good book this weekend and continue Read Across America's literacy program here are some local spots to find your next favorite read: 

  • Book Exchange - Midlothian Turnpike  

Even though, they are due to possibly close soon if new owners do not take over. This is a very popular place for avid readers in the Midlothian…

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