Tag Archives: John VanderSyde

Where are all the homes – what’s up with Inventory?

We have a number of people asking about housing inventory, wondering why we are not seeing more homes in the real estate market for sale. Reports and statistics confirm an improving housing market, although it may be “slow and steady” as reported two weeks ago by Carol Hazard in the Richmond Times Dispatch. So shouldn’t we be seeing more houses for sale?

 Home cartoon HOME caption

We are on the cusp of our spring market here in Richmond, and therefore anticipate seeing more and more homes trickling into the marketplace. However, it may not be what we are used to when we contemplate a healthy marketplace. We have to keep in mind that as the economy continues to evolve the marketplace also shifts. People are often slow to respond to change, and there is still perceived uncertainty in the minds of some consumers as to how these improving conditions will impact home sales. Well don’t think about it too long. Homes are selling more quickly today, and inventory is not keeping up with demand.

 

Realtors are seeing homes showing up “For Sale” and then “pending” under contract rather quickly every day. And for good reason – there is pent-up buying demand fueled by low interest rates which makes this a great time to buy and sell homes. We can all see that low mortgage rates combined with low inventory is a win-win situation for buyers and sellers. Under these conditions, sellers know that homes priced well that are in good condition sell quickly and at a higher price. Buyers understand the value of borrowing with low interest because it allows them to purchase more home for their money, and enjoy a greater return on their purchase over the life of the loan.

 

While “slow and steady” may be the rallying cry of the day, to hesitate may mean not getting what you want. Although inventory may be low, so are the rates available for borrowing the money to purchase these homes. There is no question that this is a great time to buy and sell real estate. Speak to your real estate professional today and find out how these conditions will work to your advantage.

 

Ann & John VanderSyde are Associate Brokers at Virginia Properties, a Long & Foster Company. They have been Sales Team of the Year since 2009. Call (804) 287-4660 and visit   www.InSydeHomes.com

Top Influences in Selecting a HOME

   A Richmond, Virginia neighborhood can be every bit as important as the dwelling itself – at least according those of us polled. The 2009 National Association of REALTORS ® Profile of Home Buyers and Sellers Reported the results of a survey of consumers and real estate agents regarding top influential characteristics in selection a home. Considered by 64% of individuals when deciding where to live, quality of neighborhood was one of the most cited factors.

Additional attributes that those surveyed deemed important are:

Convenience of Job:  50%

Overall affordability of Homes:  43%

Convenience to family and friends:  38%

Quality of the school district:  26%

Convenience to Shopping:  26%

Neighborhood Design:  23%

Convenience to Schools:  21%

   When searching for the ideal neighborhood, your real estate agent can be a valuable guide. Your agent can help identify a community that you will enjoy being a part of by assessing your needs and matching them to the locations that seem to be best fit.

The Virginia Center for Architecture

Located on Monument Avenue

The Virginia Center for Architecture – Now on Permanent Exhibit:

The House That Pope Built

The Virginia Center for Architecture celebrates two years of bringing architecture to life with the opening of a permanent exhibit on its headquarters building, built in 1919 by architect John Russell Pope, FAIA.

The House That Pope Built includes photographs, narrative, and other educational media that shed light on the house — a 27,000-square-foot Tudor-Revival mansion — in addition to John Kerr Branch, the patron who commissioned its construction; the architect; the house’s interiors; its setting on Richmond’s historic Monument Avenue; and Compton Wynyates, the 15th/16th-century English country house that inspired the building’s design.

What else is going on at the Center? Take a look at our upcoming tours and other special programs

Check out the latest offerings from the VCA Museum Shop

On the Washington Post’s list of 5 More Reasons to Visit Richmond Now: The Virginia Center for Architecture!

See where Virginia’s buildings rank in the AIA’s poll of America’s favorite architecture