Real Estate Blog - FAQs

FAQ - What are the Advantages of Purchasing a Home During the Winter?

Purchasing a home any time of year can be a stressful endeavor. Understanding the current market can greatly assist in managing expectations and preparing you for what may transpire during a home purchase.

Be Prepared for a Lower Home Inventory

Housing markets, like many others, are a great lesson in supply and demand. The more supply available the less demand there is. The less demand, means less competition and potentially lower prices, making it less competitive and more affordable for the buyer. Usually there is a slower market in the winter, so there may be less inventory, but there are also fewer buyers out there, so less competition and possibly a better chance to negotiate with sellers. If you are thinking about buying a home during the…

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FAQ - What are the Best Tips for a First Time Home Buyer?

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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FAQ - What are Common reasons why my home might not be selling?

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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FAQ - What is a Home Inspection and Why is it Important?

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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FAQs- What are the Benefits of Buying vs. Renting?

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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FAQ - What is a Seller's Market and How do you Navigate it as a Buyer?

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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FAQ - Why Should I use a Realtor for New Construction?

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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FAQs - How do you prepare your home to sell with furry friends?

Although your furry friend is a big part of your life and family, when it comes to selling your home, you can’t forget to make your home appealing on all families with or without furry friends!

Some pre-work needs to be completed before selling your home to show it at its best to potential buyers if you want to make sure you get top price for your home. Deep cleaning your home before putting it for sale is a must, as most of the cleaning can be due to our pet pals.  Some potential buyers may have pet allergies and you want to rid your home of any and all pet evidence to keep from turning away potential buyers.

These damages are easily overlooked as the time goes by living in your home. Although, when it comes to selling your home, it…

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FAQs - How do you write a smart Offer in a Competitive Market?

In many parts of Richmond, there are multiple buyers interested in certain properties. These are likely updated properties in the hot parts of downtown, and they don’t stay on the market long! Many times, listing agents will call for all offers by a certain date and time…which means you only get one shot to make an offer that will allow you to be the “winner”. So, how do you accomplish this? Your buyers’ agent will be your best resource, as they know the market best and have experience in writing contracts. Listen to them and their experience, first and foremost. But, here are a few ideas you may want to run by your buyers’ agent when working on an offer together:

1. Include an Escalation Clause: this is similar to making a bid on E-Bay. For…

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FAQs - What is Staging and is it really necessary?

The purpose of staging is  to make a home feel inviting, while not being too personal and thus appealing to the most buyers possible. It also helps give potential buyers a feel for how to best lay out the space. Many buyers have a hard time visualiziing how their furniture will work in a space. Staging helps with this. It also helps with visualizing scale and proportions. Contrary to what many people think, an empty room can actually feel smaller than it is and may turn off buyers unless they see that it can hold more or larger furniture than they thought. A good stager will try to accomplish several things:

1. Bring in furniture that compliments the style of home that is being sold. If a house is a traditional  little cottage, the furniture and…

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