Off the Grid?

Stephanie Sellers - Wednesday, April 03, 2013

Solar Panel Sales Companies are reporting a spike in recent sales.  The cost of a whole house solar panel powered is significant however with the ease of mind it brings people are turning towards this type of energy production.

Large acreage with water, well and septic and solar panel energy is becoming a popular concept.  Some don't care to pay higher energy cost associated with the lack of coal and the taxes put upon energy.  Some fear that storms could knock out their electricity for an extended period.  Recent turns in the weather warrant such concerns with Hurricanes and Earth Quakes becoming the norm in areas that once never saw such activity.  For instance NJ months after the horrific storm of the century many are still doing without.  Moving further inland on large tracts that are self sufficient is becoming a trend.

Some folks are even venturing into organic farming enjoying teaching their children about gardening and living much like everyone did in the 50's.

Is this the way you envision yourself?  If so I can help with recommendations of local energy experts and land sales in the Richmond Virginia Metro area Give me a call at 804-514-9942 and visit StephanieSellers.com often for tips on home ownership and buying in the area!

Land Sales in Powhatan Virginia

Stephanie Sellers - Tuesday, April 02, 2013

From January 2013 to April 2, 2013 31 Lots in Powhatan County have pended or sold.  What does that mean?   In 2011 the same months only 18 lots sold.  The same months in 2012 29 Sold/Pended.  

We are seeing more interest in land then in previous years and the sales show.  All time low land prices and an increase in new home construction are contributing to this spike in sales.  Prices are amazingly low for land based on sales in 2011.   Land prices are sure to rise as land sales increase.

Many are buying lot/land to build now and just as many are taking advantage of the low prices and buying land to hold and build later.  Some even feel it could be a good investment as buying a lot/land for 50K that was once valued at 100K is sure to bring profits in the near future.

Many lots are still bank owned and offer a great opportunity for someone to pick up a lot at a great price.  Builders who just couldnt make it through the recession lost lots to these banks and the banks just want the lots/land off of their books based on previous sales they are offering lower prices then competing lots/land in the neighborhood.

If the New Home Construction trend continues to spike as indicated by recent sales and projections from the Real Estate world such as National Home Association, land/lots is a great investment and also offers and exceptional time for a buyer to build that perfect dream home before land prices catch up with recent sales and rise.

For More Information on Sales in Powhatan, Virginia or The Richmond Virginia Metro Area please contact StephanieSellers.com 804-514-9942  I look forward to working with you!

Will your offer on a home get accepted?

Stephanie Sellers - Sunday, March 24, 2013

Many buyers feel they need to offer a "low ball" offer to get a deal.  2012 yielded not only the "bottom" of the real estate pricing market but also an upturn in sales and a reduction in inventory.

Typically you can expect a discount of 3 to 3.5% off of list price on a home.  However, this is not always the case.  Some homes are already priced to sell at list price and/or may be in an area receiving offers very quickly.  The condition of the property should also be considered if homes in the area are selling for 105 a sq ft and the home you are looking at is in excellent condition and is priced at 105 a sq ft then expect to pay full list price.

Some buyers feel they are not getting a "good deal" if they pay close or full list price.  At the end of the day you should consider factors such as monthly payment, is this  a home you envision yourself living is the home in good condition?  Many factors should be considered and your Realtor should have first hand experience in many scenarios in the market and be able to assist you in determing what works best for you.

After thinking about the upswing in the market the lack of inventory and the expectations by many reputable economist or news sources such as the Bloomberg Group, Case and Shiller local papers such as The Chesterfield Observer, you will understand that fair market price is a good deal if their predictions become a reality.

As we progress into 2013 prices are sure to rise so the longer you wait to buy the higher price you will pay for a new home is sure to be the reality.

Realtors should also be able to recommend several proven performer lenders who can insure you not only get the best rates and closing cost but also the best loan product for you.

For More Information Please do not hesitate to contact me at 804-514-9942 or StephanieSellers.com

Chesterfield County Virginia Proffers Explained

Stephanie Sellers - Saturday, March 23, 2013

What is a proffer?  It is a fee charged to a builder for every home he builds.  Essentially a builder must pay from about 5000 to upwards of 50,000. on every lot he puts a home on.  Why are builders charges this fee or proffer?  The county has established a need for growth with growth there are higher demands put on a community for instance schools and fire safety.  The real estate tax on these homes doesnt appear to be enough to offset the price of growth.

In 2011 Chesterfield Virginia was ranked the third largest collector of proffers in Virginia in 2011 at 4.4 million collected in proffers.  Chesterfield currently has a ceiling limit of 18,966 per proffer or per home built. 

Hanover County in the Richmond Virginia area decided to "drop" the proffers from its building requirements.  Hanover felt that reducing proffers would insure a more marketable price point on homes sold in Hanover and stimulate more of a housing recovery.  It is too early to say if that worked or not.

It appears that Chesterfield County will be keeping  proffers the county voted to keep proffers at 18,966 instead of the allowed 28,567 .   Infrastrucure is calculated after determining the needs of the residents and then offset by real estate taxes, this difference is then passed on to the builder as a proffer.  So yes Chesterfield Will keep proffers although not at the maximum allowed.  Some suggestions from Supervisors are a food tax or other type of tax to assist with the budget issues of the county.

All of this adds up to not only is the demand for homes increasing the price points but also the cost to have that new home in the district this will all be passed to the buyer.

Call Me Today to Learn more about proffers, New Construction , Selling or Buying that Home 804-514-9942 or visit http://www.stephaniesellers.com

A special Thanks to The Chesterfield Observer for keeping current with Trends in Chesterfield Va!  

T

Case-Shiller Reports Housing increase in 2013

Stephanie Sellers - Friday, March 15, 2013
  • Home prices projected to grow 3.7 percent between Q3 2013 and Q3 2014
  • Home prices in nearly all metro areas on track to increase in 2013
  • Trends point to a return to a normal housing market, with prices projected to grow 3.3 percent per year over the next five years
2012 Was the first year since 1997 that we saw Real Estate sale trends resemble anything near normal.  Construction still remains at an all time low, Foreclosure inventory is still available but you will see an increase in the value of those as well as Investors are stocking up on them.  Housing will once again prove to be a positive affect on the Economics of the USA.  

 Shiller cautions that foreclosure inventory can affect the housing price market however home prices and home mortgage rates are remaining under affordability.

To Learn More About the Richmond Virginia Housing Market Visit http://www.stephaniesellers.com Or Simply Call/Text 804-514-9942 Today!

POSTED Richmond Virginias Top Production Builders List

Stephanie Sellers - Monday, March 11, 2013

BizSense Lists


The top 3 records for any list are available for all viewers. BizSense Pro subscribers can view all the records contained in our lists. Not a subscriber? Become a Bizsense Pro subscriber today!

Special thank to Bizsense who keeps me updated on the Richmond Business Market
Richmond Area Home Builders
Ranked by Number of Homes Built in 2012
Rank Prev. rank Name
Address
Phone
Fax
No. Homes Built No. Homes Sold Average:
Price
Sq. Ft.
No. Local Employees Top Local Executive Year Founded
2012 2011 2012 2011
1 1 Ryan Homes
7501 Boulders View Dr., Ste. 450
Richmond, VA 23225
ryanhomes.com
(804) 237-7700
(804) 237-7750
515
516
515
516
$308,127
2795
110
Brett Hetrick
Chad L. Joyce
Bob Lewis
Vice Presidents
1948
2 3 Eagle Construction of VA., LLC
2250 Old Brick Rd., Ste. 220
Glen Allen, VA 23060
eagleofva.com
(804) 741-4663
(804) 741-0553
193
151
143
156
$370,866
2717
55
Bud Ohly
President
Skip Mann
Sr. Vice President & CFO
Jeff Kornblau
Vice President & COO
1984
3 2 Main Street Homes
15871 City View Dr.
P. O. Box 461
Midlothian, VA 23113
GoMSH.com
(804) 794-3138
178
160
176
127
$391,000
4000
48
W. Vernon McClure, Jr
President & Owner
1996
4 5 HHHunt Homes
11237 Nuchols Rd.
Glen Allen, VA 23059
hhhunthomes.com
(804) 762-4667
(804) 762-4667
134
97
134
107
$282,617
2400
25
Patrick J. McCarthy
Jill K. Kreis
Sales Manager
Jarod A. Ambrosino
Area Construction Manager
1992
5 6 Royal Dominion Homes, Inc.
11551 Nuckols Rd., Ste R
Glen Allen , VA 23059
royaldominionhomes.com
(804) 270-2711
(804) 290-0968
104
95
123
97
$336,169
N/A
19
Roger Zurasky
President
2007

Trends in the NEW Home Market Richmond Va

Stephanie Sellers - Wednesday, March 06, 2013

This year is due to be a stellar year for the builder, it may be for the home buyer as well.  Interest rates remain low and prices havent went dramatically up, Yet.  So in preparation for the New Home Boom in Richmond Virginia, area builders visited the home builders show.

Many new items were introduced this year such as the busy lifestyle products of Kohler, they feel you are to busy to watch that favorite show or listen to your music so to make it easier for you have inserted a bluetooth device into your shower head, This Moxie Shower head cost around 149.00 and sprays tunes with the water. 

Oversized garages are also still in demand with buyers interested in also adding additional living space above the garage in the form of a larger masterbath and/or closet or sometimes a bonus room.

The Arts and Crafts finishes still influence finish touches such as the Large Industrial style lighting that replaces the cluster style light this year.  

Folks are also realizing things like switching out a tub in the future can be a big job, try squeezing a 4 foot wide porcelain tub through a bathroom doorway, not easy.  So you will also see a trend towards large soaking tubs reminiscent of the classic homes of our past.

There will also be an introduction towards smarter and greener products this year.  If you are considering building in the Richmond Virginia area I am happy to assist visit http://www.stephaniesellers.com or Call 804-514-9942

Photo Courtesy of Kohler


The New Construction Housing Market is on FIRE in Richmond Virginia

Stephanie Sellers - Wednesday, March 06, 2013

Reports and economic figures guesstimate that 2013 would be a great year for builders.  It is March 6, 2013 and neighborhoods in Chesterfield, Va that permitted 21 homes last year have already permitted for 16 this year!  That is an increase from 2 to be built sales a month to almost 2 a week!  That is amazing.

Many factors are contributing to this boom in New Construction Housing.  A desire to take advantage of extremely low interest rates while buyers can, (they increased a quarter of a point last week), Taking advantage of builder incentives while they are still around. and also keeping in mind with Sales like this contractors, builders and materials prices will surely rise.

This is good news for the overall housing market and the builder who has been able to survive the last 4 years may thrive in this year and upcoming years.  

If you own a home and are considering selling this is also good news for you.  There is a lack of re sale home inventory and the new construction rise will also raise prices of existing homes.  The Richmond Virginia Housing Market is overall up in price and sales.  Should selling and/or buying be on your mind I would love to help.

http://www.stephaniesellers.com

804-514-9942

Thank you to Freshome for the pictures and staying current with HomeTrends :)

Existing Home Inventory Down in Richmond Virginia: How this effects You

Stephanie Sellers - Thursday, February 28, 2013

There are many factors contributing to the re sale home inventory available.  Nationally low figures produced a result of a 13 year low in the resale housing inventory.  Builders are offering incentives to buyers encouraging home purchases.

Families find themselves looking for a re sale home but either investors beat them to the offer or the homes are unlivable.  Although buyers may want to buy an existing home they are finding this more and more difficult to find.

Many larger builders have in house mortgage companies and we are starting to see a national trend of buyers who would not qualify under traditional lending practices becoming qualified and usually for more then they felt they could afford.

New home sales jumped 28.9% in January and re sale homes rose 9.1% although a new home is typically 37% more then an existing home.  It is becoming easier and easier to buy a new home versus a resale home.  Due to lack of inventory and the buyers assistance program offered by many builders.  Many homeowners are reluctant to sell their homes right now fearing that the value hasnt increased enough to earn what they expect from a sale.

Builders are stepping up construction.  Many builders in the U.S have reported double digit growth in orders for new homes.  The assistance of government backed loans has induced an easier buying process for new construction.  Census show 50% of new homes sold in the first quarter of 2012 were government backed with FHA at 31% which is up from 10% in the same quarter 5 years ago.  

In conclusion; Now is a great time to think about selling, There isnt much competition and if you stage your home properly your main competition will be new construction which will most likely be priced higher then an existing home (which was less to build previously)

With the gains in new construction you can expect higher prices at the model home coming in the near future.  Profits have been marginal for contractors and builders in previous years and with the new construction craze and the lack of resale inventory you are sure to see a rise in prices.

So you might ask yourself "Maybe, now is the right time to sell my home?"

For a Free Market Anaylsis call me today

Source The Wall Street Journal February 26, 2013

  

New Products in 2013

Stephanie Sellers - Sunday, February 24, 2013

Kohler is offering a unique shower head this year.  The shower head that sprays more then water, it also has a bluetooth speaker.  This can assist those who cant leave that radio show or music to take a shower,  now you can take the sounds with your through your morning ritual of showering.  This is a unique idea of putting the speaker into the shower head.  The shower head is called "Moxie" and can be purchased for about 149.00.   

Oversized garages with additional living space above are still popular.   Oversized pantries up to 6x8 room size are trending.  Large industrial style lighting fixtures spinning off from the Arts and Crafts style.  The cluster style lights are out this year.

Larger homes are seeing requests to make the island bigger.  A popular trend is to eat at the island and maybe even forego the breakfast nook.  Faucets are still leaning towards the touch system, you touch the stem and the water flows however you might see bright color accents that are new in 2013.  Also, colorful sinks the brighter the better.

Free standing tubs are making a comeback as well.  Soaking in a large porcelain tub seems to be the sought after goal of many people renovating and building in 2013.  This style has the Craftsman style feel.

Keep up with current trends with stephaniesellers.com

HBAR Local Home Forecast 2013