Richmond Real Estate Trends 2006-2011
The graphic above shows richmond real estate trends including Richmond Homes Available for Sale ( Or Inventory) vs. actual Closed Sales in the Richmond, Virginia real estate market from 2006 through 2011. As you can see at the height of the real estate boom in 2006 actual Closed Sales outpaced Available Inventory by a wide [...]
HAFA Short Sales in Richmond, VA
(Short Sales and HAFA) In April, 2010, President Obama proposed his plan to provide uniformity and to shorten the short sale process. This plan was called “Home Affordable Foreclosure Alternatives” (HAFA), and was proposed as an alternative for a failed HAMP (Home Affordable Modification Program). Just as HAMP is a big failure, so has HAFA, [...]
5 Steps to Deciding How Much to Offer – or Ask – for Your Home in Richmond, VA
One of the hardest, most important decisions homebuyers face is how much to offer for their home. And the glut of information on the web about real estate only makes buyers even crazier than the decision itself does. Supply, demand, foreclosure rates, mortgage rates – buyers think they need to run spreadsheets and do fancy [...]
4 Tips to Determine How Much Mortgage You Can Afford
By: G. M. Filisko Published: March 11, 2010 By knowing how much mortgage you can handle, you can ensure that home ownership will fit in your budget. 1. The general rule of mortgage affordability As a rule of thumb, you can typically afford a home priced two to three times your gross income. If you [...]
How to Determine Rental Rates for Real Estate in Richmond, VA
Determining the market rate for Rentals in Richmond, Virginia is not too difficult. But, many owners and landlords in the Richmond area base what they charge for rent on two things: 1.) what other places are renting for (i.e comps) 2.) their cost basis or income expectations for the property. But, to achieve steady income and [...]
Short Sale Process in Richmond, VA
Documents you need: 3rd Party Authorization (so we can talk/negotiate with your bank on your behalf) Signed Listing Agreement Hardship Letter (with loan number(s) at the bottom) Financial Worksheet 30 Days Paystubs 3 Months Bank Statements 2008/2009 Tax Returns The entire process will look something like this: 1.List the property at market value – Complete [...]
Short Sales in Richmond, Virginia
Below is a good article from William D. Tucker in Charlottesville, Va. There is quite a bit of confusion for Buyers and Sellers here, which Mr. Tucker clarifies, but another concerns for both parties is when the property is Pended ( or taken off the market) in MLS? Richmond’s MLS, the Central Virginia Regional MLS, [...]
Property Management Services For Richmond, Virginia
At Snipes Properties, we strive to be the industry leader in single-family property management in Richmond, VA. Our Property Management Specialists have expertise with maintenance and construction, investor services, rental and resale market values. We offer a complete package of services in a bundled package or a la carte. We handle the following: Advertising and [...]
Short Sale Rules loosening. Could it help underwater borrowers?
Here is a good article about the rules for Short Sales getting easier. This is could be a really good sign for underwater home owners in the Richmond area. We have a team here at our office that specializes in Short Sales for Richmond, Va area home owners. We have gotten really good at helping [...]
ABC Flooring
ABC Flooring recently completed the hardwood flooring installation for Snipes Properties’ new office at 3905 Cutshaw Avenue. They were professional, fast, installed a great looking product and their prices were very attractive. I would recommend them to anyone looking for a quality flooring project. They can do authentic hardwood floors, laminate, ceramic tile, bamboo, vinyl [...]
