Real Estate Archives

Interest Rates Fall To Record Low

Interest rates for 30 year mortgages fell to a record low of 4.71% this week. This is a decline from 4.78%, which was last week's rate. Historically this is the lowest recorded rate since Freddie Mac began issuing a weekly survey.

The 15 year fixed rate fell to 4.27% from 4.29%.

Now is the time to take advantage of these low interest rates, as we don't know how long they will last. Word is that rates will probably begin to rise in the spring when the Federal Reserve is expected to start phasing out the program by which it has been heavily investing in mortgage securities.

This is the perfect time use these low interest rates to refinance or for a new home purchase. The First Time Home Buyers Tax Credit has been extended until April 30 and a $6,500 Tax Credit has been added for existing homeowners who are purchasing a new home.

First Time Home Buyers Tax Credit Closer to Extension

The First Time Home Buyers Tax Credit is closer To extension.

The proposal would extend the $8,000 Tax Credit through April 30, 2010 and also extends the income cap to couples with a combined income of $225,000. This is an increase of almost $55,000 over the existing law. In addition it would add a $6,500 credit available to qualifying move up homebuyers who have lived in their current residence for 5 of the past 8 years. Under the new law existing homebuyers would not be required to sell their current home, but inorder to qualify the new home would have to be used as their primary residence; it could not be a vacation home.

The goal of the new legislation is to help first time homebuyers, move up homeowners, while excluding speculators looking to buy and flip. This legislation if passed could pay a significant role in keeping the momentum of the current housing recovery. We have seen a significant percentage of sales in the Charlottesville VA real estate market that are going to first time homebuyers over the past year.

RISMEDIA, November 5, 2009—After two weeks of delay, the Senate cleared the way to pass a seven month extension and expansion of the tax credit for homebuyers. By an 85 to 2 roll call vote, the Senate voted to cut off debate on a package of measures that includes the homebuyer credit, making it virtually certain that the legislation will reach President Obama for his signature this week.

via rismedia.com

Small Virginia Horse Farms For Sale

Small Virginia horse farms for sale are in demand.

If you have a small Virginia horse farm and have been considering the idea of selling, but have been waiting to put it on the market it may be a good time. I have gotten three requests this week from new buyer clients who are looking for a Charlottesville horse farm or hunt box. By small we are talking about the 5-15 acre range. Of course, like most of the buyers in todays market, price is an important consideration. This is not the time to put on an over priced listing. However, there is a market for competitively priced small Central Virginia horse properties.

A few tips:

If your small horse farm has accesss to trail please let us know. A buyer may purchase a smaller property if there are neighboring places to ride.
Make sure that your agent describes all of the equestrian features in the agent notes. This info may determine if a buyer will choose to view your farm over others that are on the market.
State on the listing how much of the property is open and in pasture.
If the land is all woods it is not a horse property.

And the most important tip is to hire a REALTOR who is experienced with horses and horse farms to help you with the sale of your Virginia horse farm. Be sure to choose a horse property expert for the job.

Contact

Pam Dent

, e-PRO, SRES, NHD, REALTOR®, Real Estate III, Charlottesville, Virginia at 434 960-0161 to buy a property in the following areas in Central Virginia: Charlottesville, Albemarle County, Keswick, Glenmore, Ivy, Crozet, Earlysville, Free Union, Cismont, Scottsville, Fluvanna County, Palmyra, Lake Monticello, Louisa County, Louisa, Mineral, Spring Creek, Orange County, Gordonsville, Orange, Barboursville, Greene County, Ruckersville.

View all of the Charlottesville Virginia homes for sale.

View my website Charlottesville Horse Farms or visit my other blog Charlottesville Real Estate Talk for more information on

Charlottesville

Virginia

horse farms, homes, events and real estate.

Should You Buy A Charlottesville Home From The Agent Whose Name Is On The Sign?

Many people's first instinct is to call the agent whose name is on the home for sale sign, but should you buy a Charlottesville home from the agent whose name is on the sign?

While out driving most of us notice the real estate for sale signs in front of properties that catch our eye. As you know those signs also have contact phone numbers for the listing agent. It would appear that the easiest way to view that farm would be to simply call the phone number that is right in front of you. Afterall that agent will know the most about the property… Right?

Well there is a major flaw in this line of reasoning. The real estate agent whose contact information is on the sign is the listing agent and they are working for the seller. What does this mean? In addition to selling the home or Virginia horse farm, the listing agent's job is to get the seller the best price under the best conditions for the seller. The listing agent will not be looking out for your, the buyer's interests.

You may think that because you have bought homes before that you know what to do and do not need an agent. Besides you will save money by not having a buyers agent. Since the only commission being paid is the listing agent's you will get the home for less money. Makes sense doesn't it? The seller will only be paying a commission to one agent. Well, it doesn't work that way. Commissions are negotiated between the seller and the selling office. The selling office then agress to split the commission wih the buying office if another company brings the buyer; otherwise, and this is the important part, if the listing office also sells the home they keep both sides of the commission.

Therefore, it doesn't mske sense to give up your representation to buy from the seller's agent. Afterall if you are sick you would consult a doctor, and if you have legal troubles you will consult a lawyer. When you are looking for a Charlottesville home or Virginia horse farm for sale, the firse step is to have the assistance of a real estate professional who will not only counsel you during the purchase but who will also help with the myriad of details between contract and closing.

Remember if you do decide to initially view a home with the listing agent do not divulge any information that could hurt your negotiating positions during contract negotiations.

Contact

Pam Dent

View all of the Charlottesville Virginia homes for sale.

View my website Charlottesville Horse Farms or visit my other blog Charlottesville Real Estate Talk for more information on

Charlottesville

Virginia

horse farms, homes, events and real estate.

Own A Home In A Virginia Horse Farm Community

Own a Home in a Virginia Horse Farm Community!

758 South Keswick Drive, South Keswick, Troy, Virginia listed by Pam Dent

5 bedroom, 3.5 bath, 3,100 sq ft, 11.14 acres. Priced at $83,000 below assessment. $599,000.

758 South Keswick Drive is a stunning contemporary home with 5 bedrooms and 3.5 baths set on the most beautiful lot that you can imagine, overlooking its private 1.5 acre pond. Some of the features include 3,100 fin sq ft, 1,700 un fin sq ft, 2 car attached garage, 2 car detatched garage, open floor plan, vaulted ceilings, sky lights, Bose speakers throught the home, 2 fireplaces, decks overlooking the pond. Although it is not fenced for horses there is plenty of open land for a horse or two. Priced at $599,000 a great value at $83,000 below assessment.

View the complete pictures and visual tour of 758 South Keswick Drive.

Don't miss the opportunity to buy a home in the South Keswick equestrian community. Small Virginia horse farms can be difficult to find and a South Keswick home is the perfect solution. South Keswick is a neighborhood of large lots mostly in the 10-15 acre range, ideally suited for small horse properties. Often when you buy a small horse property there is the problem of where to ride, but not here. South Keswick offers 8 miles of common riding and
walking trails. Of course, you don't have to have horses to enjoy this
beautiful community. This is the perfect spot to enjoy the Virginia
Country Life.

South Keswick is conveniently located 2 miles from I64, minutes to
Charlottesville, Virginia and an hour from Richmond. This property is
close to the Keswick Hunt country and convenient to many area horse shows.

758 South Keswick Drive is the perfect choice For a small Virginia horse farm or the perfect spot to relax and savor the Virginia country life.

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Contact

Pam Dent

, e-PRO, SRES, NHD, REALTOR®, Real Estate
III, Charlottesville, Virginia at 434
960-0161 to buy a property in the following areas in Central Virginia: Charlottesville, Albemarle County, Keswick, Glenmore,
Ivy, Crozet, Earlysville, Free Union, Cismont, Scottsville, Fluvanna County,
Troy, Palmyra, Lake Monticello, Louisa County, Louisa, Mineral, Spring Creek,
Orange County, Gordonsville, Orange, Barboursville, Greene County,
Ruckersville.

View all of the Charlottesville Virginia
homes for sale.

View my website Charlottesville Horse Farms
or visit my other blog Charlottesville
Real Estate Talk for more information on

Charlottesville

Virginia

horse farms, homes, events and real estate.

Virginia Horse Farms In The Spring Real Estate Market

Virginia horse farms are gearing up for the spring real
estate market. As I was driving back to my office from showing
property earlier in the week, I saw signs of spring all over the Central Virginia countryside.
Trees are budding, daffodils are blooming, forsythia is painting the
landscape yellow, cherry trees add a hint of pink, and the grass is
showing a hint of bloom. In a couple of weeks all of the Virginia horse farms are going to be bright green with new spring grass.

Spring is the busiest season in the Charlottesville Virginia real estate market. As the trees are beginning to bud, we are seeing an increase in inquiries about Virginia horse properties for sale. Buyers are making appointments to come and look at homes for sale. If you are considering selling your Virginia horse farm now is the time to list it to take advantage of the Charlottesville spring real estate market. When the leaves come out, the dogwoods are blooming and the fields turn green Charlottesville horse farms will be dressed in all of their Easter finery and ready to present the best picture to the public.

Buying A Charlottesville Virginia Horse Farm

Harbingers of Spring in the Albemarle County Real Estate Market

Selling a Charlottesville Virginia Horse Farm

Contact

Pam Dent

View all of the Charlottesville Virginia
homes for sale.

View my website Charlottesville Horse Farms
or visit my other blog Charlottesville
Real Estate Talk for more information on

Charlottesville

Virginia

horse farms, homes, events and real estate.

The Charlottesville Area Year End Market Report – Hot Off The Presses

The Charlottesville Virginia Association of Realtors has just published its 2008 year end market report discussing home sales in the Central Virginia area over the past year. It does not paint a pretty picture. 2008 has been a rough year both for the national and the local real estate market. October and November were especially difficult months due to the worsening ecconomic crisis and the uncertainty regarding the election. December saw an increase in activity which we hope will continue on into the new year. All in all we are glad to see the end of 2008.

Click here to read the market report.

Please contact me if you would like to discuss the local real estate market or see how it affects you individual property.

Homes Are Still Selling

Despite what you hear homes still are selling. I just sold this lovely home in the Windsor subdivision in Earlysville just a few miles outside of Charlottesville to my clients.

We had been waiting for several months for their home on the west coast to sell. When it finally did go under contract, we were able to move quickly. We had already spent some time looking at homes in the Charlottesville area, so by the time their home sold, they knew exactly what neighborhoods in which they wanted to live. With the large inventory on the maket, there were several perfect choices for them to look at and they were able to find a beautiful home at a price that they could afford.

This may be the right time for you to experience homeownership.

Interest rates are at unheard of lows.
There is a lot of inventory on the market resulting in a lot of homes to shoose from.
Prices are the lowest that they have been in years.
$7500 first time homebuyers tax credit.
Foreclosures and short sales on the market offering some good buys

Contact

Pam Dent

, e-PRO, SRES, NHD, REALTOR®, Real Estate III, Charlottesville, Virginia at 434 960-0161, pam@JumpintoGreenerPastures.com, to list your property for sale or to buy a property in the following areas in Central Virginia: Charlottesville, Albemarle County, Keswick, Glenmore, Ivy, Crozet, Earlysville, Free Union, Cismont, Scottsville, Fluvanna County, Troy, Palmyra, Lake Monticello, Louisa County, Louisa, Mineral, Spring Creek, Orange County, Gordonsville, Orange, Barboursville, Greene County, Ruckersville.

To view all of the Charlottesville, Virginia and Central Virginia Homes for Sale click here and click on the mls search button.

Visit my website Jump into Greener Pastures or read my other blog Charlottesville Real Estate Talk more information on Central Virginia homes, events and real estate.

Reasons To List Your Farm Now

House for sale Many of you may be struggling with the decision of whether to list your Charlottesville farm for sale now or whether to wait until spring. I realize that there is a lot of uncertaincy right now. In my personal business the reality is that I have seen an increase in business over the past several weeks. Of course this discussion is based on the assumption that you have a desire or need to sell in the near future. If this is not the case then you may want to make the decission to wait until there is a shift in the market.

There are several factors that support the decision to list at this time. To begin with, while we have a lot of inventory on the market now, these numbers will only increase in the spring when all of the people who are waiting will add their homes to the market.

One of the strongest points for listing now are interest rates. They are amazingly low and could very well be going lower. If you list now, you can catch the buyers jumping into the market to take advantage of those low rates. Also, you will be able to take advantage of those same rates when you buy.

Yes there may be fewer buyers at this time of year, but if someone is out looking at homes over the holidays they are usually motivated buyers. There will be fewer lookers, but a higher percentage of those lookers will be buyers.

If you believe that we are not at the bottom yet, then home prices may have fallen further by spring. Does it make sense to wait and sell at a lower price? I have not seen any predections that support a model calling for higher home prices by spring. As a seller this may work to your advantage when you buy. You may end up getting less for your home, but this could even out with the opportunity for you to buy your new home at a great price. These savings could work out especially well if you are buying up with the low interest rates.

Christopher and Stephanie Sommers have written an excellent blog post discussing the pros of listing your home now. They are real estate professionals serving the Philadelphia market. The points in their well written post apply equally well in our market.

If you do decide to sell at this time, remember that it is important to price your home well and to have it in as good condition as possible. You will want to make sure that your home is the one that buyers want to see. A key step is to hire an agent with a strong internet presence. Afterall if over 85% of homebuyers are beginning their search on line, that is where your home needs to be.

Contact

Pam Dent

To view all of the Charlottesville, Virginia and Central Virginia Homes for Sale click here and click on the mls search button.

Visit my website Jump into Greener Pastures or read my other blog Charlottesville Real Estate Talk for more information on Central Virginia homes, farms, events and real estate.

Should I Take Advantage Of The Lower Interest Rates And Buy A New Home?

This week we have been hearing the buzz in the news about the government plan to bring interest rates down to 4.5% in order to prompt home buying and ease the housing crisis. Does this mean that you should take advantage of the new rates and buy that new home? The Wall Street Journal discusses the pros and cons of buying a new home with the lower rates.

While the drop in interest rates will translate to a major reduction in your monthly mortgage payment, it may not make sense for you at this time to use this reduction to buy up into a larger home. Homeowners need to be careful that they do not use the rate reduction as an excuse to buy more home than they can actually afford. Instead it may be smarter to downsize into a more affordable home with lower payments, particularly if you are unsure about your job security.

The Central Virginia real estate market offers many opportunities to downsize and take advantage of the lowering interest rates. In addition to lower payments a smaller home will also offer reduced energy and maintenence costs. If you would like to explore how this option might work for you, give me a call and we can look together at what Charlottesville area homes are available that could suit your needs and lower your expenses at the same time.

Interest Rates Fall To Record Low

First Time Home Buyers Tax Credit Closer to Extension

Small Virginia Horse Farms For Sale

Should You Buy A Charlottesville Home From The Agent Whose Name Is On The Sign?

Own A Home In A Virginia Horse Farm Community

Virginia Horse Farms In The Spring Real Estate Market

The Charlottesville Area Year End Market Report – Hot Off The Presses

Homes Are Still Selling

Reasons To List Your Farm Now

Should I Take Advantage Of The Lower Interest Rates And Buy A New Home?

Areas of Expertise

Contact Pam

Areas of Expertise

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Contact Pam