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Showing posts with label buy a home in Charlottesville. Show all posts
Showing posts with label buy a home in Charlottesville. Show all posts
Monday, February 1, 2016
Belmont Village townhouse for sale. Convenient and upscale living at a price you can afford!
Wednesday, January 14, 2015
What does 2015 Hold for the Real Estate Market.
We have lots of sources of information and there is a tendency to think that we can truly narrow and predict everything that is going to happen for a particular piece of property at the drop of a hat. That's not true. In fact, I would wager a lot of it is crystal ball chicanery designed to make us look smarter than the average bear and 'seal the deal' with a particular client. Now, that's not to say that all of it is verbal sleight of hand.
So here are a few predictions that have a very high likelihood of being true both here in the Charlottesville Real Estate Market as well as the Nation as a whole.
Millenials are Moving into the Market
The tried and true generation that has fueled the market up to now has been Baby Boomers. This is an easy thing to say as they have been the largest percent of the working / consuming population for decades. They placed a much higher value on being in one city for life and it showed in their propensity to buy a home and settle down. But that's not so true today. The largest cohort of population by age group is 23-year-olds. Followed closely by 24 and 22-year-olds. This is a huge number of people who are in the age bracket where they married and start families or choose places to settle down and work a job for a while. As this groups gathers their buying power they can make an impact in the market and help to push up home prices a small amount over the next decade.
Where we live is changing as a Nation
As the average age of home buyers begins to drop, the places they buy are changing as well. This generation is noted for wanting to live in smaller, more efficient, more green homes. They do not believe that those homes are solely located in rural areas but are looking for easier access to the city, decreased reliance on cars for transportation and more urban areas. Ass to this that New construction remains at all time lows and there is simply not as much housing available in suburbs and rural areas for first time home buyers to buy.
Mortgage Rates will Rise.
They will, I swear. I know, I know; we said that in 2014 and it didn't really happen. But it is coming. I think people who are a little younger than I do not remember the 80's. In the 80's I bought a house and got a mortgage rate of 14%. All of my friends were so impressed I got a rate that low! So here's the low down. When rates go up, how much house you can afford goes down. By a lot. And it's coming. Maybe in a small dose this time around but it will continue. It's the way of the world that as the markets improve the rates go up. And the market has very little else to do after the crash than improve. Some of the rate increase will be offset for FHA borrowers in the decrease in costs for Mortgage Insurance Premiums that FHA is enacting.
Home Prices will go up, but not as much as you think
Once the market began to recover home prices JUMPED up at a pretty good rate. This was mostly rebound; markets trying to get back to something close to their original value. I don't mean to rain on anyone's parade, but that's over. Now we are back to something more normal. Normal meaning something before the market went crazy with unsustainable growth. If you're selling, however much you may read blurbs that say home prices are up 10%, it's just not true. At least not how you think. Average home prices may be going up a lot, but the average home values are not going up that fast. The prices are climbing faster because we have fewer and fewer distressed, foreclosed or short sale properties on the market. So now, if you want a $400,000 home you actually have to pay $400,000 for it. This raises the median price. The values are not climbing that fast. They are starting to stabilize and their growth will be largely dependent on the demand and the economy.
And of course, if you want to buy or sell a home in the Greater Charlottesville area, then I want to help you.
Quinton Beckham
Keller Williams Realty
3510 Remson Court, #301
Charlottesville VA, 22901
Friday, March 29, 2013
Charlottesville Downtown - Park and Food Drop
Headed downtown to walk the Mall, see a show or enjoy some dining? You can help your local community as you park!
From March 25 through April 1, the Charlottesville Parking Center will be holding a food drive benefiting the Blue Ridge Area Food Bank. The Food Bank serves as an emergency food assistance agency that helps more than 120,000 Virginians have enough to eat, every month. The Three CPC parking lots will boxes for you to deposit non-perishable goods, canned foods and cash as you enter or leave the parking areas for the Water Street Garage, Water Street Lot or Main Street Garage.
So celebrate the nice weather we are having this weekend, go to the mall and do a little window shopping or have a nice meal and then help your community on your way out! Every donation helps and CPC makes is simple for you to be a part of keeping your community healthy and fed!
Charlottesville Homes for Sale
Belmont Neighborhood Homes for Sale
Estates for Sale in Charlottesville
Courtesy of Keller Williams Realty
Quinton Beckham
434.242.6212
www.select-homes-charlottesville.com
From March 25 through April 1, the Charlottesville Parking Center will be holding a food drive benefiting the Blue Ridge Area Food Bank. The Food Bank serves as an emergency food assistance agency that helps more than 120,000 Virginians have enough to eat, every month. The Three CPC parking lots will boxes for you to deposit non-perishable goods, canned foods and cash as you enter or leave the parking areas for the Water Street Garage, Water Street Lot or Main Street Garage.
So celebrate the nice weather we are having this weekend, go to the mall and do a little window shopping or have a nice meal and then help your community on your way out! Every donation helps and CPC makes is simple for you to be a part of keeping your community healthy and fed!
Charlottesville Homes for Sale
Belmont Neighborhood Homes for Sale
Estates for Sale in Charlottesville
Courtesy of Keller Williams Realty
Quinton Beckham
434.242.6212
www.select-homes-charlottesville.com
Wednesday, March 27, 2013
Local Food in Charlottesville, VA - Bellair CSA
The Bellair Farm in Albemarle County, VA has a history dating back to the 1700's. As a part of its current mission to "develop an ecologically sound plan for Bellair Farm so it can be sustained as an agricultural, historic and natural resource benefitting the local community" the Bellair Farm is now offering participation to the community in Community Supported Agriculture (CSA) program.
CSA Programs allow members of the community to participate in the support of, and directly benefit from, local farms by purchasing shares of crops to be grown that year. It benefits both the farm and the community as the person purchasing the share in advance gets the produce at about half of the market price. It benefits the farm by allowing them to have monetary resources when they most need them - in the spring when farmers must buy seeds and equipment for the coming season - without having borrow money from lenders. The community benefits by having a direct connection to a local food source, maintaining agricultural land and otherwise providing for a more stable and sustainable local economy.
Bellair Farm's CSA Program comes at a cost of $600 per share. This can be billed wherein the buyer sends in a $100 deposit and then pays off the remainder in two equal installments. Each week the shareholder can pick up their share of the crops either at the farm or on a designated day or time at a market in town. Bellair Farm's plan seeks to provide 360 pounds of produce for each shareholder. From 12-20 different types of vegetables are available each week and you have an opportunity to choose what comes in your weekly share so that you have items you will actually use.
Bellair Farm grows its produce using organic standards and a respect for the land.
For more information or to sign up, visit www.bellairfarm.com or call 434-262-9021.
Albemarle County Homes for Sale
Homes for Sale in Cherry Hill
Farms and Estates for Sale in Albemarle and Charlottesville
If you are looking to Buy a Home, Sell a Home, or Invest in Real Estate - CALL ME!
Quinton Beckham
Keller Williams Realty - Charlottesville
1885 Seminole Trail, Suite 100
Charlottesville, VA 22901
434.242.6212
www.select-homes-charlottesville.com
CSA Programs allow members of the community to participate in the support of, and directly benefit from, local farms by purchasing shares of crops to be grown that year. It benefits both the farm and the community as the person purchasing the share in advance gets the produce at about half of the market price. It benefits the farm by allowing them to have monetary resources when they most need them - in the spring when farmers must buy seeds and equipment for the coming season - without having borrow money from lenders. The community benefits by having a direct connection to a local food source, maintaining agricultural land and otherwise providing for a more stable and sustainable local economy.
Bellair Farm's CSA Program comes at a cost of $600 per share. This can be billed wherein the buyer sends in a $100 deposit and then pays off the remainder in two equal installments. Each week the shareholder can pick up their share of the crops either at the farm or on a designated day or time at a market in town. Bellair Farm's plan seeks to provide 360 pounds of produce for each shareholder. From 12-20 different types of vegetables are available each week and you have an opportunity to choose what comes in your weekly share so that you have items you will actually use.
Bellair Farm grows its produce using organic standards and a respect for the land.
For more information or to sign up, visit www.bellairfarm.com or call 434-262-9021.
Albemarle County Homes for Sale
Homes for Sale in Cherry Hill
Farms and Estates for Sale in Albemarle and Charlottesville
If you are looking to Buy a Home, Sell a Home, or Invest in Real Estate - CALL ME!
Quinton Beckham
Keller Williams Realty - Charlottesville
1885 Seminole Trail, Suite 100
Charlottesville, VA 22901
434.242.6212
www.select-homes-charlottesville.com
Sunday, March 24, 2013
2013 Real Estate Market so far, and what it may mean to you in Charlottesville, VA
We have been saying it for weeks now, months even - The Real Estate Market is Picking up, getting stronger and moving faster. So lets take a look at Charlottesville and see how it's doing compared to last year...
So what does this mean? I am not a statistician, but I can tell you what I see in my own business and that of my office and associates.
Properties Sold -
The beginning of 2012 saw a lot more movement by investors snapping up properties that were short sales or foreclosed on. These were not first time home buyers, but investors or those whose financial status was such that they were "looking for a deal" on a house. January of this year also saw a lot of that leftover inventory being taken. This is the last movement of investors who are looking for properties to flip or rent out before they number of them on the market decreases.
Days on Market
Yep , things are picking up speed. Although there are still a lot of people who are unemployed or under-employed, there is still an overall decrease in unemployment and an increasing confidence in the economy as a whole. Combine this with continued mortgage interest rates at record lows and the average family or first time home buyer has an opportunity to break out of being trapped in a rental market and get that very first home of their own. I have clients who make the average amount of money for the area (about $25,500 per year) and others who are making six figures and have been renting. No matter where they fall, they are recognizing the unique opportunity that exists right now:
Homes that have not regained their prior price tag and interest rates that make buying with a monthly payment that is the same or lower than renting.
Median Prices
Everywhere you look, the number of distressed properties is decreasing and Charlottesville is no different. For them to decrease, they must be sold. The low prices on these homes water down the overall median prices, which is why we see a little bit of a drop in January 2013. But hold on to your checkbook, because I would predict that as these properties continue to disappear and the pace of the market as a whole picks up, we will see that Median price continue to climb - and at a pace that we have not seen for years.
So why should you care?
All of this means that no matter who you are or what your circumstance is, you have an opportunity to move from renting to owning, from being packed into a smaller home to upgrading to a home that better suits your family. It means that the economy and the Real Estate Market is set to let you explore making some personal gains and gaining some tax advantages that you can not have renting.
And one quick note about Short Sales
And if you are reading this and angry at the predictions because you are still in one of the homes that is upside down, there is some good news for you as well. There are still those families out there that are in homes that are deeply underwater - by $30,000 to $100,000. The Mortgage Forgiveness Debt Relief Act, originally scheduled to expire on December 31, 2012, was extended through the end of 2013. WIthout this important piece of legislation if you did manage to short sale your home and get out from under a crippling mortgage you then got hit with a tax on the amount of debt that was forgiven. Let's say you sold a home for $100,000 to avoid a foreclosure but had a mortgage note of $200,000. On your taxes at the end of the year you had to claim $100,000 as income, as a gift from your lender, and then be taxed on it. (This is an oversimplification, see your tax professional for details about your particular situation.) The point is, you have a chance to get out from under the mortgage, have the difference in debt forgiven AND not be taxed on it. Your best shot to do this is in the time between now and August.
Points to Take Away
- Thinking you can not afford a home?
You may be wrong. Make an appointment to see your lender or call your REALTOR to see who they would recommend you talk to. You might be surprised at the opportunities that exist for you.
- Ready to upgrade your home?
Talk to your REALTOR. The timing could not be better as there more families out there that could afford to buy the home you are in and better opportunity for you to upgrade the home you live in without a huge increase in your payments.
- Stuck in a home that is upside down?
Again, talk to your REALTOR and let them recommend some Attorneys or CPAs to talk you through your options - this may be your last best option for getting out of an upside down home, taking a break for a few years and then purchasing a home again in 2015. Three years sound like a long time? It may not be when you look at how long it would take the home you are in to regain the value it had when you bought it. If you bought at the peak of the housing market, this could be especially true for you.
Quinton Beckham
Keller Williams Realty - Charlottesville
1885 Seminole Trail, Suite 100
Charlottesville, VA 22901
434.242.6212
Wednesday, March 20, 2013
Think you can't get a home loan? Think again
I think what is probably the most frequent fear of first time home buyers - or rather, those who dream of being first time home buyers - is that they won't be able to qualify for a mortgage.
I think most of us have been there at one time or another; whether you were a teen-ager sitting across from the car salesman or you have just been through the wringer with the economy and are trying to get out of paying high rents for something that is not yours, the fear of being turned town for a mortgage can paralyze you into not even trying.
Just this week I had a meeting with a family that was in a similar position. They had owned a home that was their 'dream home.' But then there was a flood. After the flood there was mold. The wife slipped and fractured her hip, requiring she be on temporary disability for six months. When they went to call their homeowner's insurance company, the company didn't know who they were. Lo and behold, after having had their mortgage sold off from company to the next a few times, there had been a mix up and the premiums that should have been protecting their home against just such a disaster were not being paid by the latest company to own their home.
After numerous phone calls and an attorney they did the only thing they could do to escape the black mold that was rising out of the basement and into their home: they left.
They called me not too long ago after having found me online and you could hear the emotion over the phone as they told me their story. They had left the home they owned and moved into a home that they are still leasing, but now the owner of the home that they are leasing wants to sell and they need a place to live. After talking to them I explained that the best thing to do was to come in to the office, meet with our mortgage officer - movement mortgage, a great company that we work with who keeps an office right with us to help our clients - and to just take a look and see what things looked like.
The couple was nearly tearful as they explained their story to us and gave us permission to check into their credit history and see what was possible.
Lo and behold, they are not that bad off. Yes, their old home shows negatively on their credit, but it was nearly three years ago that this happened and otherwise, they have good income, decent credit and can make some small changes that will allow us to get them into a home of their very own. Many handshakes and hugs later, they left with a plan to do some simple things to raise their credit scores and help them put money away to pay closing costs. It helped too that the husband had served in the Marines and they qualified for a VA loan.
In about three or four months, we should be able to have them in a home that they can own again, along with all of the tax advantages that go along with it and the simple pride of having a place to call their own.
What's the moral of this story? Simply this: No matter how bad you think things are, not taking the time to pre-qualify always works against you. Even the worst of credit can be repaired and a good lender has loan officers that can give you a plan, a time line and some hope. And who knows who these loan officers are? You REALTOR.
Think you can't buy a home because of your credit, you income or your past? You might be surprised. But you won't know if you don't ask.
If you want to know if you can own a home of your own, call me, I can help.
Homes for Sale in the Belmont Neighborhood of Charlottesville, VA
Homes for Sale in the Rugby Neighborhood of Charlottesville, VA
Resources and tips for Home Sellers in Charlottesville
Quinton Beckham
Keller Williams Realty Charlottesville
1885 Seminole Trail, Suite 100
Charlottesville, VA 22901
434.242.6212
www.select-homes-charlotteville.com
I think most of us have been there at one time or another; whether you were a teen-ager sitting across from the car salesman or you have just been through the wringer with the economy and are trying to get out of paying high rents for something that is not yours, the fear of being turned town for a mortgage can paralyze you into not even trying.Just this week I had a meeting with a family that was in a similar position. They had owned a home that was their 'dream home.' But then there was a flood. After the flood there was mold. The wife slipped and fractured her hip, requiring she be on temporary disability for six months. When they went to call their homeowner's insurance company, the company didn't know who they were. Lo and behold, after having had their mortgage sold off from company to the next a few times, there had been a mix up and the premiums that should have been protecting their home against just such a disaster were not being paid by the latest company to own their home.
After numerous phone calls and an attorney they did the only thing they could do to escape the black mold that was rising out of the basement and into their home: they left.
They called me not too long ago after having found me online and you could hear the emotion over the phone as they told me their story. They had left the home they owned and moved into a home that they are still leasing, but now the owner of the home that they are leasing wants to sell and they need a place to live. After talking to them I explained that the best thing to do was to come in to the office, meet with our mortgage officer - movement mortgage, a great company that we work with who keeps an office right with us to help our clients - and to just take a look and see what things looked like.The couple was nearly tearful as they explained their story to us and gave us permission to check into their credit history and see what was possible.
Lo and behold, they are not that bad off. Yes, their old home shows negatively on their credit, but it was nearly three years ago that this happened and otherwise, they have good income, decent credit and can make some small changes that will allow us to get them into a home of their very own. Many handshakes and hugs later, they left with a plan to do some simple things to raise their credit scores and help them put money away to pay closing costs. It helped too that the husband had served in the Marines and they qualified for a VA loan.
In about three or four months, we should be able to have them in a home that they can own again, along with all of the tax advantages that go along with it and the simple pride of having a place to call their own.
What's the moral of this story? Simply this: No matter how bad you think things are, not taking the time to pre-qualify always works against you. Even the worst of credit can be repaired and a good lender has loan officers that can give you a plan, a time line and some hope. And who knows who these loan officers are? You REALTOR.
Think you can't buy a home because of your credit, you income or your past? You might be surprised. But you won't know if you don't ask.
If you want to know if you can own a home of your own, call me, I can help.
Homes for Sale in the Belmont Neighborhood of Charlottesville, VA
Homes for Sale in the Rugby Neighborhood of Charlottesville, VA
Resources and tips for Home Sellers in Charlottesville
Quinton Beckham
Keller Williams Realty Charlottesville
1885 Seminole Trail, Suite 100
Charlottesville, VA 22901
434.242.6212
www.select-homes-charlotteville.com
Saturday, March 9, 2013
51 tips to make you home SELL - Tip #2
I know many of these tips seem silly as you listen to them and you think, "what? no buyer would ever notice that..."
But I dare you, go look out of your windows before you hit the play button, look carefully, then come back and watch...
And as always,
If you are looking to Buy a Home in Charlottesville,
Sell your Home in Charlottesville
Or Invest in Real Estate.
I want to help!
Quinton Beckham
Keller Williams Realty
1885 Seminole Trail, Suite 100
Charlottesville, VA 22901
434.242.6212
www.select-homes-charlottesville.com
But I dare you, go look out of your windows before you hit the play button, look carefully, then come back and watch...
And as always,
If you are looking to Buy a Home in Charlottesville,
Sell your Home in Charlottesville
Or Invest in Real Estate.
I want to help!
Quinton Beckham
Keller Williams Realty
1885 Seminole Trail, Suite 100
Charlottesville, VA 22901
434.242.6212
www.select-homes-charlottesville.com
Friday, March 1, 2013
Mortgage Rates Decline - Home Buyers Rise
If you were paying attention this week you saw that mortgage rates declined once again. A 30-year fixed rate had risen to 3.56% but yesterday reached the low of 3.51 - just a few tenths of a point from the all time low of 3.31% (click here for the full article from USA TODAY.) New home sales jumped 16% in January over December and the number of people who signed contracts to purchase resale homes also rose, according to the National Association of Realtors (NAR). Following this increase in demand, home prices also rose. All based on purchasing power.
NAR tracks the Pending Home Sales Index which measures the number of homes that are placed under contract. Although this does not measure actual sales, it is a good indicator of consumer confidence. This has seen a relatively steady climb over the last 12 months with a good jump in January. NAR offers this data to the public and you can view it by clicking here. Additionally, overall financial forecasts remain on the upswing with unemployment dropping, mortgage rates making modest climbs to reach break into the 4% territory in the fourth quarter of the year. This data can be seen by clicking here.
Overall, this continues to be a good home buying season for everyone involved with rising home prices benefitting sellers, decreasing unemployment putting cash in the hands of more consumers and low mortgage rates keeping homes affordable for anyone who is seeking to upgrade their home or get out of renting and become a homeowner.
If you are interested in becoming one of those homeowners, click this link to see all properties for sale in the City of Charlottesville, Virginia.
If you have questions on buying or selling a home, you can check out my website or contact me directly at 434.242.6212
Quinton Beckham
Keller Williams Realty
434.242.6212
www.select-homes-charlottesville.com
NAR tracks the Pending Home Sales Index which measures the number of homes that are placed under contract. Although this does not measure actual sales, it is a good indicator of consumer confidence. This has seen a relatively steady climb over the last 12 months with a good jump in January. NAR offers this data to the public and you can view it by clicking here. Additionally, overall financial forecasts remain on the upswing with unemployment dropping, mortgage rates making modest climbs to reach break into the 4% territory in the fourth quarter of the year. This data can be seen by clicking here.
Overall, this continues to be a good home buying season for everyone involved with rising home prices benefitting sellers, decreasing unemployment putting cash in the hands of more consumers and low mortgage rates keeping homes affordable for anyone who is seeking to upgrade their home or get out of renting and become a homeowner.
If you are interested in becoming one of those homeowners, click this link to see all properties for sale in the City of Charlottesville, Virginia.
If you have questions on buying or selling a home, you can check out my website or contact me directly at 434.242.6212
Quinton Beckham
Keller Williams Realty
434.242.6212
www.select-homes-charlottesville.com
Thursday, February 28, 2013
Believe it or not, it's a good time to sell
In case you haven't noticed, Winter is winding it's way to a close and Spring is just around the corner. And as plants get ready to end their restless slumber and spring forward into the air, home buyers are stirring too. Spurred on by forecasted changes in mortgages rates and pending changes in FHA rules and costs, home buyers are seeking to get a home before the prices have fully recovered and while mortgage rates remain at their historic lows.What they are finding is this: There aren't a lot of homes on the market.
While new home sales are starting to pick up again, builders remain cautious and many homeowners are still underwater on their mortgages making selling their home something that they are not optimistic about. The nation now has a 4.2 month supply of homes on the market; meaning that if sales continued at their current rate, we would be out of homes in 4.2 months.
Nationwide, nearly 28% of homeowners owe more than their home is worth, according to data from market watcher Zillow. And if you look at homeowners who don't have at least 20% in equity, that number climbs to 45%. So what does this mean for you?
Click here to see Homes for Sale in Charlottesville
For buyers
If you have been thinking that now is the time to get the best mortgage rates and better pricing per square foot on a home of your own, you are right. The market made a lot of gains last year but homes can still be found that are a great deal and the low mortgage rates mean that you can afford more home for your monthly payment. Some buyers who wouldn't have even been able to qualify for a mortgage of $250,000 because of interest rates making their monthly debt too high five years ago are finding that they CAN qualify because the payments are actually less than what many of them are paying for rent. It's still a great time to buy, but if you see that home that meets 90% of your needs, you better jump on it, there just aren't a lot homes out there and finding that "perfect" home in the price range you can afford isn't likely to happen.
For Sellers
If you have some equity or just have a real reason to move, then you shouldn't wait. You are much more likely to get close to your asking price now than if you wait until the market picks up in Spring and Summer and the competition grows. Although many buyers are aware of the lack of inventory, they are not wanting to wait and maybe miss a chance to make a great buy at a low interest rate. Listing now can make you one of the few homes available that many buyers are in competition for. Add that to the fact that the REO or distressed home market (those in short sales or foreclosures) is drying up, and you have an opportunity to snag that smart buyer who knows today's market conditions won't last.
Click here to see what your Charlottesville Home is Worth
For the complete article in USA TODAY, click here
Call me for more information on making the market work for you,
Quinton Beckham
Keller Williams Realty
434.242.6212
www.select-homes-charlottesville.com
Sunday, February 24, 2013
Friday's child is loving and giving...
So you've done it, you made the plunge, chose a Real Estate Agent and you are putting your home on the market; you are ready to get it out there and don't want to wait another day! But maybe you should.
One thing that every Real Estate Agent knows and lives by, the longer your home is on the market, the less likely you are get your asking price. Days on Market is the holy grail of negotiating and one of the few unarguable points in determining the how close to your asking price that first golden offer is; the longer on the market, the less likely it is you will get the price you ask for.
In this era of online everything there is simply one magic day for marketing a home and getting the most bang for your electronic debut - Friday. According the Real Estate Analysts Redfin, homes listed on a Friday garnered 99.1% of their asking price in the actual sale. (Remember folks, that is an average, your individual experience will absolutely vary according to the market you are in, your home itself, the neighborhood and local trends.)
Homes for Sale in the City of Charlottesville, Virginia
Nailing the day that a home listing hits the internet is crucial according to Glenn Kelman, President and CEO of Redfin, which covers 19 markets in the U.S. "You get four times the traffic on the day of debut than any other time of the week, and you only get one chance," he says, "Soon, you're yesterday's news." Properties listed on a Friday also sell the fastest, average days on the market being only 81 days.
But what makes Friday so special? Richard Ryan, Professor of Psychology at the University of Rochester says that adults typically work a Monday through Friday workweek (adults who are NOT real estate agents, I should add) and are more upbeat and enthusiastic on a Friday. They also tend to report more energy and vitality on the weekends which could make them more proactive in actually seeing your home or making an offer.
Homes for sale in the Belmont Neighborhood of Charlottesville
So if Friday is the best day to debut, what is the worst? Sundays. Homes that debut on a Sunday end up selling, on average, for 98.4% of asking price. That could be a difference of nearly $5000 on a $500,000 home. Sunday listings have to sit around for a few days before people start lining up home tours for them and by that time, newer listings may make the Sunday debuts seem stale.
Now you can't hang your entire marketing plan for selling a home on the day of the week, but in this market of ups and downs and low inventory and competitive buyers, we certainly can take every little bump to help us that we can get. The number of factors that go into a home sale are so numerous as to be immeasurable, one of the many reasons you need a Real Estate Agent to help you navigate it and get the best price and best net proceeds for your home.
As always, if you are looking to Sell a Home in Charlottesville, Buy a home in Charlottesville or want to Invest in Real Estate, email me or give me a call, I would love to be the agent that helps makes it the absolute best experience for you possible.
Quinton Beckham
Keller Williams Realty
434.242.6212
www.select-homes-charlottesville.com
Click here for the complete article from the WSJ
One thing that every Real Estate Agent knows and lives by, the longer your home is on the market, the less likely you are get your asking price. Days on Market is the holy grail of negotiating and one of the few unarguable points in determining the how close to your asking price that first golden offer is; the longer on the market, the less likely it is you will get the price you ask for.In this era of online everything there is simply one magic day for marketing a home and getting the most bang for your electronic debut - Friday. According the Real Estate Analysts Redfin, homes listed on a Friday garnered 99.1% of their asking price in the actual sale. (Remember folks, that is an average, your individual experience will absolutely vary according to the market you are in, your home itself, the neighborhood and local trends.)
Homes for Sale in the City of Charlottesville, Virginia
Nailing the day that a home listing hits the internet is crucial according to Glenn Kelman, President and CEO of Redfin, which covers 19 markets in the U.S. "You get four times the traffic on the day of debut than any other time of the week, and you only get one chance," he says, "Soon, you're yesterday's news." Properties listed on a Friday also sell the fastest, average days on the market being only 81 days.
But what makes Friday so special? Richard Ryan, Professor of Psychology at the University of Rochester says that adults typically work a Monday through Friday workweek (adults who are NOT real estate agents, I should add) and are more upbeat and enthusiastic on a Friday. They also tend to report more energy and vitality on the weekends which could make them more proactive in actually seeing your home or making an offer.
Homes for sale in the Belmont Neighborhood of Charlottesville
So if Friday is the best day to debut, what is the worst? Sundays. Homes that debut on a Sunday end up selling, on average, for 98.4% of asking price. That could be a difference of nearly $5000 on a $500,000 home. Sunday listings have to sit around for a few days before people start lining up home tours for them and by that time, newer listings may make the Sunday debuts seem stale.Now you can't hang your entire marketing plan for selling a home on the day of the week, but in this market of ups and downs and low inventory and competitive buyers, we certainly can take every little bump to help us that we can get. The number of factors that go into a home sale are so numerous as to be immeasurable, one of the many reasons you need a Real Estate Agent to help you navigate it and get the best price and best net proceeds for your home.
As always, if you are looking to Sell a Home in Charlottesville, Buy a home in Charlottesville or want to Invest in Real Estate, email me or give me a call, I would love to be the agent that helps makes it the absolute best experience for you possible.
Quinton BeckhamKeller Williams Realty
434.242.6212
www.select-homes-charlottesville.com
Click here for the complete article from the WSJ
Monday, February 18, 2013
Keller Williams now Largest Real Estate Franchise in the United States
Keller Williams Realty Now #1 Real Estate Company in the United States by Agent Count
Company also announces franchise expansion into Germany, Austria, Switzerland, and Turkey
DALLAS, TEXAS (February 17, 2013) — Keller Williams Realty, Inc. announced today that it is the
largest real estate franchise company by agent count in the United States, with approximately
80,000 associates. In recent years, Keller Williams Realty has posted record growth numbers,
surpassing RE/MAX, Century 21, and now Coldwell Banker to secure the industry’s top position.
The news, based on publically available information as of February 6, 2013, was announced in
front of more than 10,000 Keller Williams associates during the company’s annual convention in
Dallas, Texas.
During his standing-room-only, annual State of the Company address, CEO Mark Willis made the announcement, stating, “Keller Williams associates: We are one family. We have one destiny. We share one thing ... We are America’s #1 real estate company by agent count!”
Willis also reported strong productivity gains by Keller Williams associates in 2012. Year over year, per-agent units increased 23 percent, closed volume was up 31 percent, and gross commission income rose 28 percent. Moreover, a record 91 percent of the company’s offices were profitable for the year. The company also announced its final profit share total for the year, which added up to more than $55 million in profits distributed to Keller Williams associates – an increase of 44 percent over the previous year.
Keller Williams Realty President Mary Tennant updated attendees on the company’s charitable 501(c)(3) entity, KW Cares, which in 2012 awarded $2.7 million in grants to associates and their families in need.
And finally, Keller Williams Worldwide President Chris Heller announced plans to expand into two new regions: (1) Germany, Austria, and Switzerland; and (2) Turkey. The company previously
announced global franchise agreements in Vietnam, Indonesia, and Southern Africa. Heller also
extended a big welcome to more than 70 international guests who were visiting from 18 countries.
“One of the keys to Keller Williams Realty’s phenomenal success has been our ability to grow organically – from agent to agent, from market center to market center, from country to country – earning our reputation one person at a time,” Heller said.
Willis’ presentation was followed by a 30th anniversary party. The No. 1 announcement and celebration capped a remarkable year for the Austin, TX-based company:
“One of the keys to Keller Williams Realty’s phenomenal success has been our ability to grow organically – from agent to agent, from market center to market center, from country to country – earning our reputation one person at a time,” Heller said.
Willis’ presentation was followed by a 30th anniversary party. The No. 1 announcement and celebration capped a remarkable year for the Austin, TX-based company:
-
- J.D. Power and Associates ranked Keller Williams “Highest in Customer Satisfaction”
among both home buyers and home sellers.*
-
- Keller Williams was ranked No. 9 on America’s Top 150 Workplaces – the only national real
estate company on the list.
-
- And in April, Keller Williams co-founder and bestselling author Gary Keller will publish his
latest book, The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results.
Willis thanked associates and implored them to “Never back down” from their new position as the largest real estate company in the United States: “Let’s celebrate tonight, but watch out, competition. Tomorrow we’re going to be working harder than we’ve ever worked before. The real prize we’re pursuing is to be #1 in agent count and transactions and volume all across the world!”
*Disclaimer: Keller Williams received the highest numerical score among full service real estate firms for home buyers and home sellers in the proprietary J.D. Power and Associates 2012 Home Buyer/Seller StudySM. Study based on 2,994 total evaluations measuring five firms and measures opinions of individuals who bought or sold a home between March 2011 and April 2012. Proprietary study results are based on experiences and perceptions of consumers surveyed March-May 2012. Your experiences may vary. Visit jdpower.com - Looking to buy a Charlottesville Home?
- Sell your Charlottesville Home?
- Invest in Real Estate?
- Call me and let me bring the strength of the Country's largest Real Estate Firm to meeting your needs!
- Quinton Beckham
- Keller Williams Realty
- 434.242.6212
- www.select-homes-charlottesville.com
-
Sunday, January 27, 2013
Will 20% Soon be the New Minimum Down Payment?
Several government agencies are reviewing data to determine what will be the minimum down payment required under the new Qualified Residential Mortgage (QRM) guidelines scheduled to be revealed in the next few months. In the original Mortgage Market Note issued by the FHFA, it was suggested that loan-to-value (the percentage of the overall purchase price that was being borrowed) was a major factor in determining if a loan would default:
"For most origination years, requirements for borrower credit score and loan-to-value ratio are the factors that most reduce the ever-90-day delinquency rate of mortgages acquired by the Enterprises that would have met the proposed QRM standards"
The note then went on to make the following proposal:
"An LTV ratio qualified residential mortgage must meet a minimum LTV ratio that varies according to the purpose for which the mortgage was originated. For home purchase mortgages, rate and term refinances, and cash-out refinances, the LTV ratios are 80, 75 and 70 percent"
For the complete article, click here: http://www.kcmblog.com/2013/01/23/will-20-soon-be-the-minimum-down-payment-on-a-home/
Basically, the note suggested that a 20% down payment should be the new guideline for Qualified Residential Mortgages. Now, no one can know for sure what the final requirements will be. Bloomberg reported last week:
"The six regulators drafting the separate QRM rule, including the Department of Housing and Urban Development, The Office of the Comptroller of the Currency and Securities and Exchange Commission, must decide whether to include such a requirement - and whether to make it less than the 20% they originally proposed."
What could these new regulations mean for the average home buyer? Certainly there is a growing portion of the Charlottesville Area Home Buying population for whom a requirement of 20% down payment could, unintentionally, lock them out of homeownership as a whole. More and more of those who are approaching Real Estate Agents to buy a home are those who are renting. As rents have climbed dramatically over the last few years, this has seriously impacted the average Charlottesvillian's ability to set aside money month after month in pursuit of that often elusive down payment. Their first and best method to take advantage of the currently reasonable home prices and excellent mortgage rates is to seek out a Mortgage program that allows them to own a home for only 3-5% down.
Should the new QRM guidelines require a 20% down payment on what would be a very large percentage of mortgages, we could see a slowing of the Real Estate market as a large portion of potential buyers are trapped in rentals that are costing a larger portion of their monthly incomes.
For now, this has not happened and we can hope that the regulators will keep in mind that much of America can not put away a 20% down without the tax advantages of homeownership.
What does this mean to someone seeking to Buy a Charlottesville Home? Don't wait until the market changes, home prices go up or mortgage rates rise. Meet with a qualified Real Estate agent and get a check on your finances, credit scores, housing needs and determine if you can get out of the rent trap.
What could this mean to someone seeking to Sell their Charlottesville Home were it to go through? Certainly, nearly every offer has some request for the seller to cover a portion of the closing costs, generally 1-3%. Expect to see those become necessary in order to get cash strapped buyers through the mortgage process and qualified for a loan. For those wanting to upgrade their homes or needing to sell property at all, the market continues to have many opportunities to attract buyers and a mortgage structure that is attractive to a larger percentage of home seekers than ever before - waiting too long to put your home on the market could see those buyers dry up and create a market that has fewers buyers, who are more sought after.
If you are wanting to:
Find out if you can Own a Home in Charlottesville
Buy a Home in Charlottesville
Sell your Charlottesville Home
Please contact me, I want to help!
Quinton Beckham
Keller Williams Realty
434.242.6212
www.buyorsellhomescharlottesville.com
www.select-homes-charlottesville.com
"For most origination years, requirements for borrower credit score and loan-to-value ratio are the factors that most reduce the ever-90-day delinquency rate of mortgages acquired by the Enterprises that would have met the proposed QRM standards"
The note then went on to make the following proposal:
"An LTV ratio qualified residential mortgage must meet a minimum LTV ratio that varies according to the purpose for which the mortgage was originated. For home purchase mortgages, rate and term refinances, and cash-out refinances, the LTV ratios are 80, 75 and 70 percent"
For the complete article, click here: http://www.kcmblog.com/2013/01/23/will-20-soon-be-the-minimum-down-payment-on-a-home/
Basically, the note suggested that a 20% down payment should be the new guideline for Qualified Residential Mortgages. Now, no one can know for sure what the final requirements will be. Bloomberg reported last week:
"The six regulators drafting the separate QRM rule, including the Department of Housing and Urban Development, The Office of the Comptroller of the Currency and Securities and Exchange Commission, must decide whether to include such a requirement - and whether to make it less than the 20% they originally proposed."
What could these new regulations mean for the average home buyer? Certainly there is a growing portion of the Charlottesville Area Home Buying population for whom a requirement of 20% down payment could, unintentionally, lock them out of homeownership as a whole. More and more of those who are approaching Real Estate Agents to buy a home are those who are renting. As rents have climbed dramatically over the last few years, this has seriously impacted the average Charlottesvillian's ability to set aside money month after month in pursuit of that often elusive down payment. Their first and best method to take advantage of the currently reasonable home prices and excellent mortgage rates is to seek out a Mortgage program that allows them to own a home for only 3-5% down.
Should the new QRM guidelines require a 20% down payment on what would be a very large percentage of mortgages, we could see a slowing of the Real Estate market as a large portion of potential buyers are trapped in rentals that are costing a larger portion of their monthly incomes.
For now, this has not happened and we can hope that the regulators will keep in mind that much of America can not put away a 20% down without the tax advantages of homeownership.
What does this mean to someone seeking to Buy a Charlottesville Home? Don't wait until the market changes, home prices go up or mortgage rates rise. Meet with a qualified Real Estate agent and get a check on your finances, credit scores, housing needs and determine if you can get out of the rent trap.
What could this mean to someone seeking to Sell their Charlottesville Home were it to go through? Certainly, nearly every offer has some request for the seller to cover a portion of the closing costs, generally 1-3%. Expect to see those become necessary in order to get cash strapped buyers through the mortgage process and qualified for a loan. For those wanting to upgrade their homes or needing to sell property at all, the market continues to have many opportunities to attract buyers and a mortgage structure that is attractive to a larger percentage of home seekers than ever before - waiting too long to put your home on the market could see those buyers dry up and create a market that has fewers buyers, who are more sought after.
If you are wanting to:
Find out if you can Own a Home in Charlottesville
Buy a Home in Charlottesville
Sell your Charlottesville Home
Please contact me, I want to help!
Quinton Beckham
Keller Williams Realty
434.242.6212
www.buyorsellhomescharlottesville.com
www.select-homes-charlottesville.com
Wednesday, December 26, 2012
Update your bathroom and improve your life
Often overlooked in day-today life, the bathroom can be a place of retreat and restoration from the day. When ignored and left to the most basic of traditional looks, bathrooms become places where cleaning and grooming is a chore. However, with a little time and money your bathroom can be transformed into a retreat that allows your body and mind to rest and prepare to face the world again. Homedit.com shares some ideas for giving your bathroom a new look and a whole new feel to go with the new year.
Outside of the kitchen, very few remodels breathe new life into your home like redoing the bathroom. From a complete refit to some simple accessories to give it a new feel, stepping out of the mundane can add enjoyment and give you cause to take the time enjoy a warming soak in the winter or a relaxing shower in the summer. Changing how you view this room can do a lot for your sensation of the space itself, changing it from a place where chores of cleaning and shaving are performed as quickly and efficiently as possible to a room to be enjoyed as an escape. Additionally, outside of a kitchen, very few rooms can do so much to increase the the value of your Charlottesville home than making the bathroom something spectacular.
Whether you go for a more modern look like the one pictured at the top of the page, or something a bit more traditional like the picture directly above and to the right, just glancing at these photos certainly lets you know that these were not bathrooms chosen out of the aisleways of the local home improvement store with a measuring tape and heavy duty cart and the latex advertisements for what is on sale. No matter what you choose, the point is to give a signature and make it inviting, unique and valuable. I have yet to be out with a couple buying a new home in Charlottesville / Albemarle where they do not comment on two rooms - the kitchen and the master bath. You may choose to update your bathroom for your own enjoyment now, but when the time comes to sell your home in Charlottesville, I can promise you this is an investment that will pay off in two ways - overall value of the home and by increasing traffic and shortening the length of time your home is on the market.
Are you an outdoorsman? Enjoy camping in winters and planting in the spring? One of the primary draws to Charlottesville / Albemarle Real Estate is the mix of city and nature, the ability of homeowners to experience and enjoy both. If you do love nature and experiencing it in person than you are likely in want of a mudroom. No mudroom in your home? Make your master bath one with a wet side and a dry with these unique partitions that let you clean up without spreading the mess throughout the whole bath. Stylish and versatile, these partitions give your bath a unique feel and help you keep on the good graces of your spouse by simplifying clean up and not spreading the mess. Enjoy the outdoors without losing the luxury of your bath with these wonderful accessories.Whether you have a large budget or a small one, you can make a difference in your home and your life with some well spent energy and money in a room that we should all enjoy that will add value to your home when it comes time to trade up.
For the full article go to http://www.homedit.com/new-year-makeover-ideas-for-your-bathroom/
If you are looking to buy or sell a home in Charlottesville or its surrounding areas, I would love to help. I can be found at www.buyorsellhomescharlottesville.com or at via contact information below. If you like this article, please consider sharing it.Quinton Beckham
Keller Williams Realty
434.242.6212
Regal 14 IMAX / 3D at Stonefield
As the days grow shorter and night comes sooner I find it harder and harder to motivate myself out of the house past 5pm. Maybe growing up in Southern California before moving to Charlottesville has made me feel more solar powered than I originally thought, but as winter starts to set in I find myself drawn home as the day ends, wanting to be surrounded by warmth and the smells of food cooking. That being said, last week myself and a few friends decided to make a run out into the night to see The Hobbit; An Unexpected Adventure at the Regal 14. With a variety of shopping, 380 new homes and several restaurants already signed up, Stonefield is quite the popular Charlottesville destination.
I have to say, the theatre is pretty impressive. The outside box office (maybe not my favorite choice in the cold weather) makes you feel like you are going to see a pretty classy performance. Then as you go upstairs to enter the lobby you are greeted with overwhelming aroma of popcorn basting in a butter-like substance, video games and plenty of room to mill around as you wait for your order of cheese sticks or jalapeno poppers to deep fry. A pretty good theater experience.
Now when I was younger and 3D first came out, it was a head splitting experience of images haloed in red, blue and green with glasses that made you feel like your eyes could never quite focus... not the most pleasing of experiences. The new glasses, aside from being more stylish, allow a rather effective 3D experience. And while they do tire out your eyes, they are decidedly less painful than the glasses of the past.
With 380 homes for sale on the property Stonefield is certain to be a popular shopping and entertainment destination in Charlottesville for many years to come.
And by the way, I give The Hobbit; An Unexpected Adventure a lukewarm rating. LIke many of Tolkien's own books, it seems to have a hard time maintaining any kind of plot focus taking so many side trails that you often lose sight - and interest - in the central theme. Of course if you are a fan of the genre and Tolkien in general, you will want to see it. But you may want to wait until it comes out on a streaming service and or at least one of the sequel movies is also out as it is pretty obvious from the extra characters and plot-lines that have been written in that movie execs are seeking to stretch this one out from one movie to several.
As always, should you be looking to buy a home in Charlottesville, sell your Charlottesville home, or just see what your Charlottesville home is worth, please give me a call or check out my website.
Quinton Beckham
REALTOR
Keller Williams Realty
434.242.6212
www.buyorsellhomescharlottesville.com
I have to say, the theatre is pretty impressive. The outside box office (maybe not my favorite choice in the cold weather) makes you feel like you are going to see a pretty classy performance. Then as you go upstairs to enter the lobby you are greeted with overwhelming aroma of popcorn basting in a butter-like substance, video games and plenty of room to mill around as you wait for your order of cheese sticks or jalapeno poppers to deep fry. A pretty good theater experience.Now when I was younger and 3D first came out, it was a head splitting experience of images haloed in red, blue and green with glasses that made you feel like your eyes could never quite focus... not the most pleasing of experiences. The new glasses, aside from being more stylish, allow a rather effective 3D experience. And while they do tire out your eyes, they are decidedly less painful than the glasses of the past.
With 380 homes for sale on the property Stonefield is certain to be a popular shopping and entertainment destination in Charlottesville for many years to come.
And by the way, I give The Hobbit; An Unexpected Adventure a lukewarm rating. LIke many of Tolkien's own books, it seems to have a hard time maintaining any kind of plot focus taking so many side trails that you often lose sight - and interest - in the central theme. Of course if you are a fan of the genre and Tolkien in general, you will want to see it. But you may want to wait until it comes out on a streaming service and or at least one of the sequel movies is also out as it is pretty obvious from the extra characters and plot-lines that have been written in that movie execs are seeking to stretch this one out from one movie to several.
As always, should you be looking to buy a home in Charlottesville, sell your Charlottesville home, or just see what your Charlottesville home is worth, please give me a call or check out my website.
Quinton Beckham
REALTOR
Keller Williams Realty
434.242.6212
www.buyorsellhomescharlottesville.com
Sunday, December 23, 2012
Belmont-Carlton, the neighborhood to watch!
As a resident and Charlottesville Real Estate Agent I have a real interest in the neighborhoods that compose our city. Belmont-Carlton, usually just called Belmont, is one of my favorites areas for locals.
With a great combination of old and new, the Belmont neighborhood has seen a revival over the last ten years that has not been stymied by the market.
The 403-acre Belmont neighborhood forms the southeast corner of the City and is bounded by the CSX Railway on the north, Moore’s Creek on the south and east and 6th St. SW on the west. Modern-day Belmont is actually the combination of the Belmont and Carlton neighborhoods.
Belmont is a late 19th Century neighborhood consisting primarily of two “1890’s era subdivisions, “Belmont” and “Carlton”. The neighborhood serves as a significant entrance to the City from Monticello as it is easily accessible to I-64 by way of Monticello Avenue (Route 20). With its rolling topography and setting, Belmont affords excellent views of both the Downtown and the surrounding mountains.
Originally, the county estate “Belmont” was the prosperous farm estate of John M. Carr, the nephew of Dabney Carr, a boyhood friend of Thomas Jefferson. The Belmont Mansion got its name from the farm when it was built circa 1837 by the original owner John Winn. The neighborhood of Belmont grew with the building of the Old Belmont Bridge in 1905. This bridge stood until 1961 when the New Belmont Bridge that connects Ninth Street and Avon Street replaced it. Belmont is now one of Charlottesville’s southern neighborhoods.
Area studies led to its designation as a priority neighborhood for improvements from 1996-1999, which resulted in enhancements such as new paved crosswalks, street trees and planters in “Downtown Belmont.”
The Neighborhood has a mixture of housing with corner convenience stores scattered throughout. Industrial and commercial uses are located south of the CSX Railroad tracks. Trackside redevelopment has added offices for corporations like National Optronics and Inova.
Opportunities abound for investors and residents alike to purchase a home that retains the character of the neighborhood, is within easy walking distance to restaurants whose charm and reviews are stellar, and not lose the feel that you live in a real neighborhood where you can know your neighbors but still have easy access to the Downtown Charlottesville Mall. Restaurants such as Mas, The Local, Tavola and La Taza offer a variety of Cuisines and feelings without losing the sensation that you are in a small neighborhood.
To learn more about Belmont Homes for Sale or for a Market Analysis of your Belmont property CLICK HERE.
Quinton Beckham
Keller Williams Realty
434-242-6212
www.buyorsellhomescharlottesville.com
With a great combination of old and new, the Belmont neighborhood has seen a revival over the last ten years that has not been stymied by the market.
The 403-acre Belmont neighborhood forms the southeast corner of the City and is bounded by the CSX Railway on the north, Moore’s Creek on the south and east and 6th St. SW on the west. Modern-day Belmont is actually the combination of the Belmont and Carlton neighborhoods.
Belmont is a late 19th Century neighborhood consisting primarily of two “1890’s era subdivisions, “Belmont” and “Carlton”. The neighborhood serves as a significant entrance to the City from Monticello as it is easily accessible to I-64 by way of Monticello Avenue (Route 20). With its rolling topography and setting, Belmont affords excellent views of both the Downtown and the surrounding mountains.
Originally, the county estate “Belmont” was the prosperous farm estate of John M. Carr, the nephew of Dabney Carr, a boyhood friend of Thomas Jefferson. The Belmont Mansion got its name from the farm when it was built circa 1837 by the original owner John Winn. The neighborhood of Belmont grew with the building of the Old Belmont Bridge in 1905. This bridge stood until 1961 when the New Belmont Bridge that connects Ninth Street and Avon Street replaced it. Belmont is now one of Charlottesville’s southern neighborhoods.
Area studies led to its designation as a priority neighborhood for improvements from 1996-1999, which resulted in enhancements such as new paved crosswalks, street trees and planters in “Downtown Belmont.”
The Neighborhood has a mixture of housing with corner convenience stores scattered throughout. Industrial and commercial uses are located south of the CSX Railroad tracks. Trackside redevelopment has added offices for corporations like National Optronics and Inova.
Opportunities abound for investors and residents alike to purchase a home that retains the character of the neighborhood, is within easy walking distance to restaurants whose charm and reviews are stellar, and not lose the feel that you live in a real neighborhood where you can know your neighbors but still have easy access to the Downtown Charlottesville Mall. Restaurants such as Mas, The Local, Tavola and La Taza offer a variety of Cuisines and feelings without losing the sensation that you are in a small neighborhood.
To learn more about Belmont Homes for Sale or for a Market Analysis of your Belmont property CLICK HERE.
Quinton Beckham
Keller Williams Realty
434-242-6212
www.buyorsellhomescharlottesville.com
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