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The One South Realty MLS Blog

I think we started writing in 2011.

We felt like sharing our knowledge, instead of hoarding it, was the best strategy if we wanted to connect with our clients. And for the most part, the writing we have has done exactly that. From ‘how to’s’ to neighborhood narratives to explanations, the blogs have helped a lot of people, not just our clients, get a sense for where the market is headed.

Enjoy!

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What’s Really Happening in Housing

February 28, 2023
Forgive me, everyone, for I have been a bad blogger and have not written in quite some time. Despite what many think, we actually have been busy. Besides joining forces with another company to nearly double our size, we have...
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Market Report –– September 2022

October 10, 2022
We have been busy. Yes, I know, interest rates and stock markets and house prices and inflation –– we hear the same thing. But despite what CNBC would have you believe, we are still quite busy and the market is still...
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Rates Are Up. So What Happens Next?

August 5, 2022
In case you hadn’t heard, 30 year mortgage rates rose this year. After falling below 3% for pretty much the first time ever in 2021, rates began a rather jarring ascent in January and peaked just above 6% in June....
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It’s (Still) All About Inventory

July 16, 2022
For those of you who know me, I don’t think the following will come as a surprise to anyone: I follow a lot of bloggers  I read a lot of articles  I listen to a lot of podcasts The bottom...
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We’ve Moved!

June 9, 2022
13 years. Over 150 blogs. 3,500 pages. 1 million visitors. And now we are moving.  RichmondVAMLS.net, the home of the Sarah Jarvis Team at the One South Realty Group will now become RichmondRelocation.net and get a little facelift as well!...
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beer

Free Beer, Inflation, and Real Estate

May 19, 2022
Feels a bit odd right now doesn’t it? We have war going on. COVID is lingering / re-surging.  Supply chains are still nowhere near functioning properly. Inflation is raging. The Fed has proclaimed inflation is ‘Public Enemy #1’ and seems...
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The Sky Isn’t Falling

March 28, 2022
Oh, I hear it, too –– ‘These house prices are unsustainable’ and ‘just wait until the interest rates rise’ or ‘remember what happened last time.’ < yawn > When it comes to housing, nearly everyone has become a Chicken Little...
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Is Your Realtor Buying Property? (Or just telling you to?)

March 1, 2022
I am sure you have heard a Realtor say it –– ‘It’s a great time to buy or sell real estate!’ Yeah, it is rather obnoxious. Admittedly, I don’t like the statement either, it feels not only very self-serving, but...
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money

The Danger of the Unsolicited Offer

January 18, 2022
The phone rings –– you don’t recognize the number, so you answer. On the other line is a Realtor, who says that they have a buyer who is interested in buying your property, and that they have a written offer...
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2022 Market Housing Market Forecast

January 14, 2022
Each year, we try to push out our thoughts about the housing market in the coming year. 2022 is no different. The presentation we did this year we feel is one of the most important ones we have ever done....
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Context, Perspective, and Relative Values

April 13, 2021
What if I told you that it was going to be 72 degrees today in Richmond, would that give you a sense of what to expect when you walked outside? Of course, it would. You’ve been experiencing temperatures your whole...
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fall hosue

The Coming ‘Wave’ of Foreclosure

January 23, 2021
I am beginning to hear a lot of chatter about foreclosure right now.  Spoiler alert –– don’t worry. As we transition from one administration to the next, we are beginning to see where this administration stands on many issues –– and...
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When Are Home Prices Headed Down? (and other questions about the 2021 market)

December 27, 2020
The question was posed to me the other day and (in so many words) it went a little something like this –– ‘When do you think that prices will start to come back down for housing? I mean, they can’t...
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An Appraisal is Not Fair Market Value

August 30, 2020
Definition: Fair Market Value (FMV): A selling price for an item to which a buyer and seller can agree. The price at which the property would change hands between a willing buyer and a willing seller, neither being under any...
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The Ultimate Stats Page

August 1, 2020
So you like stats? We have ’em for you. We broke down every imaginable (relevant) statistical measurement we could come up with and broke it down by county/city in our coverage area. If there is a stat that you DON’T...
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build hosue

The Best Time to Build a House –– EVER!

May 18, 2020
The world is weird right now –– no one will argue that. The world is also quite uncertain now, too –– and I don’t think you will get an argument there, either.  But that said, there has never been a better time...
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wb

What if Warren Buffett was a Realtor?

April 17, 2020
Seriously, what if? For anyone who studies investing, Warren Buffet is a household name.  Buffett’s investment company, Berkshire Hathaway, is considered one of the most respected in the entire world. A single share of the company is worth in excess...
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The Coronavirus Post

March 11, 2020
I didn’t think I’d ever write a blog like this, honestly. The idea that, in less than 2 weeks, a heretofore unheard of virus, named similarly to a beer you drink on vacation, could essentially toss a monkey wrench into...
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entourage

Real Estate Negotiations Aren’t What You Think

January 23, 2020
I think we all recognize the tough, gruff, and staunch business owner as a negotiator archetype. You know the ones –– they sit across the table, fists clenched, barking ‘take it or leave it,’ and constantly drawing lines in the...
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2020

What to Expect in 2020

January 1, 2020
Forgive me, readers, for I have sinned. It has been 4 months since the last blog. Got busy, you know? Had a lot going on this year. But that said, there is no better time to jump back on the...
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I Can’t Wait for Another Recession …

September 2, 2019
I have to admit, I would love to see another recession. Uhhhh …. you are in the real estate business. Why in the world would you want to see another recession?!? The real reason? So we can stop talking about...
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The Lofts and Flats of Richmond, Virginia

July 9, 2019
A lot of what we talk about on this blog is the condition of the market –– especially localized market conditions –– and how they are trending. We also spend a lot of time talking about pricing and valuation methods....
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Thanos

What if Thanos Snapped His Fingers? (and other lessons in real estate supply and demand)

June 11, 2019
Infinity Wars Our family is pretty into the Avengers movies, especially our youngest. She knows all of the characters, all of the backstories, and all of the ways the storylines interact with one another. And she has made us all...
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real estate face

‘I’m So Awesome’ (and how you can tell if a Realtor actually is)

June 6, 2019
Agent: “I don’t mean to brag … but I’m awesome.” Agent: “I sell soooo much real estate, and all of my clients love me. Look at this awesome review someone just left me on Zillow. Did you see it? Did...
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Elmo is confused

Uncertainty

May 14, 2019
I have never met someone who loves uncertainty. Making decisions under pressure, not having the luxury of all of the facts, guessing about the future  –– these are all unnerving feelings. But they are all a part of every real...
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Biringer_Builders

The Heyday of Housing

April 2, 2019
Euro-inspired Tudors. Nouveau interpretations of traditional forms. The new rise of Modernist architecture. And, of course, a healthy dose of Richmond-centric designs in our most timeless neighborhoods. It is the heyday of housing. It Was the Best of Times …...
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bigfoot

The Myth of the Inside Deal

March 8, 2019
An ‘Inside’ Deal. An ‘Off-Market’ Sale. The ‘Pocket’ Listing. All of these are terms for the idea that (in certain neighborhoods) the best homes are acquired before they hit the market. They are sold either from a seller directly to the...
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Back on the Market

February 1, 2019
Agent: Congratulations! You are under contract! Client: Great! So we are done, right? Agent: Not exactly. Anywhere from 10% to as high as 20% of contracts fall apart for one reason or another. Client: Wait, what?!? There is as much...
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pink-houses

How to Lose Your Dream House (with your agent’s help)

January 28, 2019
How to Lose Your Dream Home Earlier this year (January to be exact) I was at the office on a Monday evening while one of our agents was wrapping up the details on a contract for a home she had...
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Escalator

The Escalator Clause

January 13, 2019
The Escalator Clause A quick market update –– As I write this in January, we have already been involved in several multiple bid situations with not just our buyer clients, but with one of our listings, too. So to repeat,...
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iBuying

January 5, 2019
Ever heard of iBuying? If you haven’t, you can say you heard about it here, first, because it is the newest trend in real estate sales and it is on the way to a market near you –– probably. So what...
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fireworks

2019 and the Return to Normalcy

December 30, 2018
2019 is going to be a transitional year. In the same way that you might take your foot off of the gas when you see a yellow light in the distance, 2019 will likely be a year where we see...
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Frogs Rent

November 28, 2018
For most homeowners, I think it is going to be difficult to let go of the last few years. ‘Our house appreciated $75,000 in 5 years!’ ‘Really? Our house went from $300,000 to 400,000 in 4 years!’ ‘Not bad, but...
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accounting

The New Normal

October 31, 2018
The last decade has been anything but normal – especially when it comes to housing. From 2007 to 2011, property values declined by 30%. From 2011 to 2013, property values didn’t move very much. From 2013 to 2018, property values...
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Things I Have Been Thinking About

September 26, 2018
For those of you who follow the blog, you know that most times it is a pretty deep dive into a topic usually related to inventory, pricing, or strategy. Today’s blog is not one of those. This is a shallower...
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OneDollar

How Much Does $1 Cost? A Critique of Real Estate Commissions

August 28, 2018
How much would you pay for one dollar? No, it isn’t a trick question. And no, I am not looking for a finance major to explain time value of money or fungibility or another economic argument about scarcity, risk, or...
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biddingwars

How to Start a Bidding War

August 6, 2018
Asking Price Means Everything and Nothing at All Question — of the last 1,500 sales in the City of Richmond, do you know how many closed exactly at the asking price? Answer — only 268! So basically, 6 out of 7...
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emrick flats 32

Why July Defines One South Realty Group

August 6, 2018
I will always have a soft spot in my heart for July. My wife is a July baby. My oldest daughter was born in July. 5 years ago, in July, we moved from our old office into our brand new...
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It’s Okay to Pay More

June 26, 2018
I know it sounds like it goes against everything in your core. Real estate is negotiable and a good deal means a big discount. Right? Well, that is not necessarily true any more. Price is Not Value The price of...
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Canyon

The Inventory Divide, and Why it Matters

May 17, 2018
A Home is an Asset For those who know me, I’m not about the ‘house of your dreams’ narrative – I am pretty objective in my approach. I want my clients to understand the underlying value of what they are...
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RocketMortgageCommercial

The Most Dangerous Commercial in the World

April 24, 2018
Has anyone seen the Rocket Mortgage ad that debuted during the Super Bowl (sorry, we’re making you think way back today)? The one where Keegan-Michael Key (of Key and Peele) translates for people? I have to admit, it had me...
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rates are rising

Rates are Rising – Here’s What it Means

March 28, 2018
Jarvis Grandchildren: ‘Grandpa, please tell us a story about the way real estate used to be!’ Grandpa Jarvis: ‘Let me tell you a story about 3.5% 30 year fixed mortgage rates …’ Jarvis Grandchildren: ‘Ooooooooo, 3.5% 30 year fixed mortgage...
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front door

4 Reasons to Call Us… Even if You Don’t Want to Buy or Sell

February 28, 2018
Studies show that people tend to move every 5 to 7 years on the average and own roughly 3 to 4 houses over the course of their lives. So during the time when you are not considering a move, you...
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Buy a House, Pay for College

February 4, 2018
Several years ago, we wrote a blog about buying a small house or condo for your child attending VCU. That article has always been popular and carried significant traffic on the web. And Now… We Have a VCU Student! Since...
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Person bidding at auction

Do You Want to Know What to Bid? Read this…

February 1, 2018
Please stand if this describes you — you have not bought a house in the last year. The rest of you who have bought in the last year can sit down and just nod your head as you read this....
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RVA Golf

January 3, 2018
As someone who has been known to spend some time on the fairways and in the bunkers of RVA’s golf scene (doing market research, of course…) I have a good feel for the courses, the clubs and the real estate...
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2018 Housing Predictions and the Coming Affordability Crisis

December 22, 2017
The Next Crisis in Housing, and the 2018 Predictions Each year, as December comes to a close and the promise of the new year begins, I try to share my thoughts on what the next 12 months will bring. And...
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The Winter Market and the Shrewd Buyer

November 28, 2017
Egg nog. Endless crowds at Short Pump. Your favorite team missing the playoffs…? Its December! Housing Sale! One Month Only! Yes, it is that time of the year again. The time when our attention turns to company parties, preparing for...
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So When Will Interest Rates Rise (and does it matter if they do)?

November 6, 2017
For what it is worth, the 2017 real estate season was a blur. And we began 2017 on the heels of what we thought was a blur of a season in 2016. Ditto 2015, and 2014 before that. All About...
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stars at night

I Like Big Lots and I Cannot Lie …

September 11, 2017
We just moved to 13 acres and I have to admit that I like it even more than I thought I would. We have two hummingbirds (one yellow and one gray) that visit us every morning for coffee on the...
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A Fun Distraction – A House on the Water

July 31, 2017
Fishing. Boating. Sunsets. Wildlife. Festivals. Crabs. Oysters. Friends. The Bay Life For many, the waterways of Eastern, Virginia are an integral part of life. For everyone else, it should be. When you own a home along the water, sneaking away...
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you cant alwasy get what you want by the Rolling stones

You Can’t Always Get What You Want

June 24, 2017
So you decided to put your home on the market. You did everything you were supposed to in order to get it ready: you pre-inspected it and fixed everything you should have you decluttered and staged you painted you steam...
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Its the Agent’s Job

June 23, 2017
As an agent, I have a lot of jobs – driving, opening doors, research, scheduling, negotiation, problem solving, advising, management, coordinating, supporting, talking – and on most days, I usually do a little bit of each. It is part of the...
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bubble poping

So You Bought in 2007 …

June 9, 2017
So you bought a home in 2007, eh? Don’t worry as you are not alone. Many others bought in at or near the top of the market, just like you did, only to watch the value crumble by anywhere from...
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The Decatur

One of the Coolest Transactions I’ve Ever Worked On

May 31, 2017
In late 2016, I got a call from an agent who wanted to show a loft we had for sale in Manchester. The Decatur Condos, an Architectural Digest level renovation of a century old warehouse, was – and still is –...
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4 seasons of real estate

The 4 Seasons of Real Estate

May 31, 2017
Newsflash — the real estate market is seasonal. Maybe it’s the fact that data is so readily available (and thus, measurable), or maybe it is the fact that the inventory situation is so strange, but never before do I remember...
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ipad and iphone

The Zillow Lawsuit

May 25, 2017
So it finally happened. A suit was filed in Chicago by a homeowner who is fed up with the Zillow platform and its impact on her ability to sell her home. I think I speak for my peers when I...
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Broad street

What is Going On With Inventory?!?

April 21, 2017
So in case you haven’t heard, inventory is down. Like WAAAAY down. Like really WAAAAAY down. Like never before this low in the history of housing low. I mean low. And while we can sit here with our clients and...
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Summit Lofts in Scotts Addition

Opportunity in the Condo Market

April 10, 2017
It was the latter part of 2011 when we got a call from a couple living in New Hampshire. They had a child who was coming to Richmond to attend VCU and they wanted to purchase a small home or...
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bubble gum on shoe

Will it Stick?

April 2, 2017
Showings begin at 10 a.m. By 5 p.m., you have 12 offers — 4 with escalation clauses — and another 10 buyer’s agents are trying to get you to wait one more day so they can bring you an offer tomorrow....
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interior design

Buying a Flip

March 15, 2017
So you want to buy a renovated bungalow or four-square in the city, huh? I think deep down, we all do. It always begins innocently enough. You see a picture on Pinterest of a 1930’s era bungalow with the original...
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living room and dining room

In Defense of Flipping

March 15, 2017
I am not sure when ‘flipping’ became a dirty word. Not long ago, I was reading an article on flipping houses and when I reached the comment section, I expected to see ‘ooos’ and ‘ahhhhs’ over the new kitchen and...
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The ‘B Word’ — Bubble

March 12, 2017
I’m beginning to hear people whisper the dreaded ‘B Word’ again … Trust me, I was front row center in 2008. I lived it — and I do not want to live through that period of time ever again. When...
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happybirthday

The Emerging Desperation in Buying

January 30, 2017
In the past several springs, the market was pretty insane — full price offers in hours, multiple contracts, bidding wars — and do you know what? It is coming again. While an insane spring market is not overly noteworthy (the springs...
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google_maps

We Are Moving!

January 29, 2017
OK — we’re moving. It has been over a decade since the last time we moved — which for us, has been an eternity. For those of you who know our history, we used to be serial movers. From 1995 to 2003,...
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Choosing your agent RIchomnd VA MLS

Did You Just Hire a Realtor, an Agent or a Salesperson?

January 19, 2017
I wish to start this article out with a disclaimer — This is my opinion only and I do not speak for anyone else. I also know that these comments will probably generate some level of disagreement with those in my...
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What I Learned From Flipping Houses

December 8, 2016
Flipping. Renovating. Fixer-Upping. via GIPHY No matter what name it goes by, buying a home, fixing the problems both large and small, and reselling it is something that we all love to do. Taking what was old, dilapidated, run down,...
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2017 Predictions

November 28, 2016
2017 already — sure got here fast, didn’t it? It seems like only a few short months ago, we were under 2 feet of snow and wondering if we would ever be able to get our cars out of the...
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Winning in the Spring Market

November 7, 2016
Just so you know — its coming — and it is not going to be pretty. ‘And what, exactly, are you referring to?’ you may ask. I am referring to the spring market — and if you are planning to...
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marketcaps

Market Caps

October 26, 2016
‘Too big for the street.’ ‘Overbuilding.’ ‘The white elephant.’ All of these terms are a way of describing a home that somehow is out of place from a value perspective. Perhaps it is too nice or perhaps too big —...
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We Love Photography

September 13, 2016
I think that deep down inside, each Realtor is part frustrated architect and part frustrated photographer (ok, this Realtor is) and thus my obsession with extremely well done photography.  Nothing quite lends itself to powerful photography quite like people, nature...
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I am a Housing Critic

September 13, 2016
I am a housing critic. I go into houses each and every day and I am asked to pass my opinion. I am asked about colors and layouts and light and quality and location and fences and appliances and utilities...
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The Making of an American Farmhouse — Walnut Hill, Rockville VA

September 5, 2016
Periodically, you get smitten with a neighborhood, and Walnut Hill in the Rockville area of Western Hanover County tends to have that effect on people. Walnut Hill is pretty close to what most are envisioning when they imagine a classic neighborhood...
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cost benefit

Using Realtor Recommendations

August 2, 2016
[ A quick note — the 2017 spring has been even more insane than last spring. In order to give yourself the best chance to purchase a home AND close on time, a team approach is required. Below we talk about the...
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Currency

Using ‘Currency’ to Your Advantage

May 10, 2016
What do you think of when you hear the word ‘currency’? Cash? Bitcoin? Dineros? Dollars? Sawbucks? Moolah? Dead Presidents? Pesos? C Notes? Shekels? Or my personal favorite, wampum?  Currency is nothing more than a form of value that can be exchanged between parties. And while we generally associate...
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12.10.14

Deal Killers

March 27, 2016
Client: ‘Sorry, the _________ is a deal killer.’ Agent: ‘Yep, we could tell.’ As agents, we have all seen it before; a client walks into the front door of a home and simply refuses to engage. You can see it in their...
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thesarahjarvisteam_smarthomeprice_com

The Rise of the New AVM’s

March 23, 2016
“Click here to get your home’s value!” “Do you want to know what your home is worth?” “Use this code to find out what values are doing in your area!” “Want to know what has sold in your neighborhood?” Yes,...
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theaffordable housingpost

The Affordable Housing Post

March 6, 2016
If 2016 is anything like 2015, we are going to see home prices rise. Nationwide expectations for 2016 predict that home prices are heading up again anywhere from a modest 2% to 5% or more, depending on your market. As...
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When Does ‘It’ Start?

January 20, 2016
Editor’s note – as this article goes to press (January 20), market activity (the RATE of sales) is trending about 15% above last January’s pace per MLS statistics. According to our own anecdotal evidence, we are feeling the same exact thing having already...
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2016

Predicting 2016

December 23, 2015
As has become tradition at One South, we try to write a piece this time of year that looks forward in the coming year and helps our clients know what to expect. 2015 was yet another fascinating year in the...
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Things to Consider for Vacation Rentals

The Vacation/Second Home Market

December 1, 2015
We recently had a past client ask us about buying a beach house. The question was basically this – ‘Is it a good time to invest in a vacation rental/second home property?’ The answer is ‘yes’ — but with a lot...
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Untitled design-2

The Return of Mortgage Insurance

November 2, 2015
MI. PMI. MIP. Each of these acronyms refer in some part to the concept of Mortgage Insurance. For the last several years, we stopped using these cryptic terms as we dug ourselves out from under the biggest financial mess the US...
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1490_VA-147_-_Google_Maps_jpg_and_velveeta_-_Google_Search

Sharing as a Strategy

October 31, 2015
2015 was a really great year for us. From Humble Beginnings When One South opened our doors in 2008, we were a mere 5 agents, supported by 1 dedicated staff member, in a orange -ish colored building on the edge of VCU (we...
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multiple offers

The Ultimate Guide to Valuing Your Property

October 5, 2015
In our continuing ‘Ultimate Guide’ series, this post will tackle one of the most important aspects of real estate, that of correctly valuing properties. Now, I have a good friend who is an agent in the Outer Banks of North...
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tobacco

Renewing Old Urbanism

September 25, 2015
Walking is a foundation of new urbanism. But you know what, walking has always been the foundation of old urbanism. Urban Renewal and Richmond As the development momentum of Richmond gained steam in the late 1990’s and into the 2000’s, the...
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Quick and Dirty Real Estate Math

September 24, 2015
Time is money—no question that that is about as cliché as it gets. But it also happens to be true, especially in real estate. That’s why the ability to do a “quick and dirty” analysis of a transaction is absolutely...
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_2__Chef_Ellie_Basch

A Chef, A Greenskeeper and a Realtor Walk into a Bar …

September 14, 2015
‘Why do we need a Realtor?’ In my early years, I used to get offended by that question. Probably the main reason was that I didn’t really have a good answer. Uhhh … contract … MLS …. Lockbox … you...
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micro

Don’t Bring Your Macro to a Micro Fight

September 13, 2015
Micro or macro? Factual or anecdotal? Data point to trend? Forest or trees? Big picture or small picture? There is an old adage that goes something like this – ‘Don’t bring a knife to a gun fight.’ Personally, I have always...
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llama

Interest Rates 101

August 31, 2015
When I got my license in 1993, interest rates were 7.5%. By the end of 1994, interest rates were approaching 9.5%. When the market really got rolling in the early 2000’s, interest rates were still hovering around 8%. In 2008 (the...
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MLS book

Making Sense of the Numbers

August 18, 2015
It used to be simple(er). When I first became licensed (1993), things were far different than they are today.  Back then, if you wanted to know what homes were available for sale, you used to have to wait for the Richmond...
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Our Algorithm

August 16, 2015
If you ask 10 Realtors what their job is, you will get at least 11 different answers. You would get answers like: ‘We make dreams come true’ ‘We take the mystery out of buying or selling a home’ ‘We facilitate...
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Toilet

Investing in Rental Property … A Primer

August 14, 2015
“I want to invest in rental property.” “I want to flip houses.” “I am thinking about owning some apartments … what the deal with those?” We hear this constantly.  And we love it because it means someone else is in...
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tobacco

Homes in the Historic Districts

August 12, 2015
The word ‘Historic’ has different meanings for different people.  When you say ‘historic’ to a Realtor in Richmond, Virginia familiar with Federal and State Historic Tax Credit programs, it means something pretty important. The HTC programs provide a powerful financial...
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Dollar Per Foot, a Critique

July 29, 2015
‘How much a foot?’ ‘What is the per foot on that home?’ ‘Feels like a lot per foot!’ ‘Dollar per Foot‘ is probably the most used of the comparative statistics in the valuation of housing today. Every buyer references it at...
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malbec

The Curated Lists of Richmond VA

July 29, 2015
I love the concept of ‘Curated.’ From the ‘Critic’s Choice’ corner of the local wine store to the ‘Staff’s Picks’ rack at the old video store, the idea behind ‘curation’ has been with us for a while.  Why should it not...
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price or terms

Price or Terms – Which are More Important?

July 14, 2015
In the real estate business, the focus of almost every conversation is price. ‘How much are they asking for their house?’ ‘What is the assessment?’ ‘What does Zillow say it is worth?’ ‘They paid WHAT?!?’ ‘The offer is for HOW MUCH?!?!’...
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how are you going to

What Are You Going to Do to Sell My Home?

July 14, 2015
It is probably the most asked question by the selling public when interviewing agents for the sale of their home.  I think it is often misunderstood. Each agent has a standard response to this question (it is usually some type...
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iStock_000013841997_Large_jpg

You’re Gonna Be Mad at Us…

July 6, 2015
You are about to get really mad at your Realtor … and your lender … and your attorney. And you know what?  It isn’t our fault. Beginning in late 2015/early 2016, the way real estate transactions are closed will change...
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HiRes

What Did It Sell For?

July 5, 2015
Early each spring, the trees begin to bud, the birds and squirrels begin to be seen with more and more regularity and the real estate market begins anew.  About the time the first day a short sleeved shirt seems appropriate,...
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The Magic of MLS

July 4, 2015
We love our Multiple Listing Service (MLS.) In terms of importance, think of it this way – it is a curated database that has recorded in great detail upwards of 95% of the real estate transactions that have occurred in...
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buy and sell

How to Execute a Simultaneous Sale/Buy

July 3, 2015
So you want to buy a new home, eh? Great! We can help. But you have a house to sell, too. Great! We can also help with that. But you can’t buy the new home until you sell the existing...
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southland-wine

Richmond VA Housing, By Decade

May 23, 2015
We recently received a request to create a page that grouped housing by decade.  We thought it was a good idea … at least in the 20th Century. So here you go … 1700’s 1800’s 1900-1909 1910-1919 1920-1929 1930-1939 1940-1949...
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prequal letter_opt

Pre-Qualification or Pre-Approval?

January 27, 2015
What is this “Lender Letter”? If you are going to need a mortgage loan to purchase your new home, one of the first questions you will face from your Realtor is “have you been pre-approved (or pre-qualified) for a new...
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iStock_000035450768Large_jpg

Real Estate and Minivans, Sedans and Convertibles…and 2015, too.

December 30, 2014
I think all salespeople, as we age, tend to do more of our selling by telling stories and using analogies than we did when we got started.  Call it experience or call it wisdom (or just call it being old,)...
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Beautiful cyber woman with silver ball

Pricing a Home is Predicting Buyer Behavior

December 20, 2014
Dear Property Owners, The entire real estate world is doing you a disservice. Sincerely, Past Sales Our industry is set up to determine values of homes based on the sale of other homes considered to be ‘similar.’ The determination of...
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Untitled_2

An Insider’s Look at Online Search

October 21, 2014
Want to know the best way to search for homes online? See the chart below. The explosion of online search sites has changed the landscape for both the public and Realtors as it relates to searching for a home…both good...
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HSH_S_National_Monthly_Mortgage_Statistics_-_1995

Is the 7/23 Dead? Nah…It’s Just Resting

October 14, 2014
From 1995-2006, I was a 7/23 addict. The ‘7/23’ was a loan product with a fixed rate for 7 years which became an adjustable rate product at the end of the 7th year. With the fluidity of the market, people...
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mortgage rates richmond va

Understanding Mortgages

August 17, 2014
I once heard someone say (and I thought it brilliant) that when you decide to buy a house, you are not only buying a home, but you are also buying the money to buy the home.  What they were implying...
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How the New Home Building Industry Actually Works

August 10, 2014
We have talked at length about building a new home in a series of posts. Things to Keep in Mind How to Negotiate with a Builder How to Value a New Home In this post, we are going to talk...
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Negotiating with Your Builder

August 9, 2014
Any successful builder is, by default, an extremely accomplished negotiator.  Show me a builder who is poor negotiator and I will show you an ex-builder. Builders spend most of their waking hours in a confrontational environment.  At almost every level of the building process,...
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Rick_Jarvis

Things You Should Know When Building a Home

August 9, 2014
For many, building a new home is still the American Dream.   While some may argue, I strongly believe owning your own home offers a sense of stability, accomplishment and arrival…and owning a NEW home, even more so.  Any time...
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VCU Richmond VA

VCU Housing Market

July 30, 2014
Virginia Commonwealth University (or VCU) is a 30,000 student entity broken down into two campuses. The Medical School Campus, located near the Broad Street/Interstate 95 interchange in Downtown Richmond, surrounds the VCU Health Center and is known by many old Richmonder’s...
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Realtor on the Moon

Most Superior Awesome Peerless Pinnacle Realty

July 30, 2014
We (Realtors) try way too hard. Our industry, at some point in our past, quit naming real estate brokerages after the founders of the company (or their market location) and began using adjectives and adverbs implying increasing levels of superiority. Glance...
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iStock_000014411428Small

Space, the Ultimate Luxury…or is it?

July 29, 2014
Space is the ultimate American luxury. Elbow room, manifest destiny, large SUV’s, acreage, privacy, trees … all of these items help us create the luxury we call space.  It is somehow American (or perhaps, just plain human nature) to be insular...
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iStock_000029132670Small

Why Did You Register?

July 15, 2014
‘Are you working with an agent?’ ‘Well, sort of…but I didn’t want to bother them…your site is so good I just tend to search here’ or ‘Yes, but I am doing my own research and your site had a lot...
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Assessments, Appraisals and Zestimates

July 5, 2014
Why is the assessment so high (or low)? Why does Zillow say my house is worth so little (or so much)? Is that the same as my home’s Market Value? And why is the appraisal different from the assessment? It can be confusing to...
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iStock_000000995347Small

The Evolution of a Buyer

February 9, 2014
The word ‘evolution‘ is generally defined by a sense of growth or improvement over time. Living things evolve, as do more theoretical things, such as ideas, processes, societies and technology. Evolution surrounds us. Applied to real estate, the concept of...
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Oops Graphic_opt

OOPS…Didn’t See That One Coming

February 8, 2014
OOPS…Didn’t See That One Coming Here is a list of common “trips” which can make Pre-Qualifications a little risky: Unreimbursed expenses, most notably (but not limited to) car mileage (“my accountant said it was a good idea”) Self employed with...
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Lead Graphic_opt

Are You ‘Lead’ing Me On?

February 8, 2014
Are You ‘Lead’ing Me On? A typical lender letter is basically just a Pre-Qualification letter. The content of the letter generally is based on information provided by a loan candidate and specific language that the information has not been supported...
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Easy Goes It

February 8, 2014
Easy Goes It Contrast the Pre-Approval to a Pre-Qualification. A Pre-Qualification is fundamentally based on a verbal exchange of information related to a potential borrower’s income and assets. In some cases, the lender may attain permission to run a credit...
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Standing Out Graphic_opt

Standing Apart From the Crowd

February 8, 2014
Standing Apart From the Crowd “Pre-Approved” implies to realtors and sellers you have a commitment from the mortgage company to lend you the mortgage subject to a sales price, loan amount, maximum monthly payment, ratified purchase agreement, an acceptable property...
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The Importance of Being Earnest

February 8, 2014
My goal is to hopefully shed some light on what the difference is between pre-approval and pre-qualification so you, the buyer, can know what level of financial disclosure YOU should expect or ask for. I would hope no one would...
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Lender Lender Graphic_opt

Why is the Lender Letter Needed?

February 8, 2014
The purpose of this blog series is to help you know what the difference is, what you should be asking for based on your circumstances, and to help all parties realize a successful transaction. One of the reasons Listing Agents...
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Yesterday, Today or Tomorrow…Which Matters Most?

January 25, 2014
As the snow melts, the flowers begin to bloom and the birds (and bugs) emerge, so do For Sale signs. The spring market is when the large number of homes in our marketplace will transact. Sometimes it is January and...
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2014 Outlook for Richmond VA Real Estate

January 3, 2014
2013 was ________ (amazing, as expected, good, bad, awful, medium, depressing, record-breaking, thankfully behind us, the year it got better, other)…I have heard them all. Depending on who you spoke with, any one of those terms/phrases could have been used...
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citizen 6 richmond va

Citizen 6 New Homes in Richmond VA

December 30, 2013
I have long held the belief that the best real estate developments are ‘about something.’  The Citizen 6 Project is certainly ‘about something.’ A development can be about location, design, size, views, layouts, schools, neighborhood, proximity, affordability, exclusivity, history or...
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iStock_000003220679XSmall

Where Are the Cranes?

December 28, 2013
One of the prettiest views of the Richmond skyline is as you approach the city from the south along 95. You can see the skyline of Downtown, the James River, Manchester, Shockoe and Church Hill as well as a host...
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Sprinter Crossing the Finish Line

Part Four – The Market is Too Sensitive (Conclusion)

August 20, 2013
The Conclusion Much of what was discussed in this series of posts deserved a lot more depth.  Discussion of housing, the Fed, the GSE, taxes…all of them…could and will continue to be written about and discussed by many of the...
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emrick building photos 084

Part Three – The Market is Far Too Sensitive (How Policy Affects Housing)

August 20, 2013
In the previous two sections, the discussion was more national in scope as we discussed both The Fed and the GSE’s.  Part Three is both national and local in scope as it touches on building codes and the impact of...
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Part Two – The Market is Too Sensitive (The Federal Reserve)

August 20, 2013
In Part One, we discussed the impact of the Government Sponsored Enterprises of Fannie Mae, Freddie Mac and (less so) FHA. Part One – Mortgages and the GSE Guidelines Part Two (here) – The Role of the Fed Part Three...
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Washington Monument and the Capitol Panoramic Nighttime

Part One of ‘The Market is Too Sensitive (Fannie, Freddie and the GSEs)’

August 19, 2013
This is a 4 part series about how the housing market is far too sensitive to the effects of government.  Each section is below: Part One (here) – Mortgages and the GSE Guidelines Part Two – The Role of the...
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CS Index April 13

Why or When You Buy…Which is Most Important?

July 1, 2013
For the past 12 months, the voices screaming ‘IT IS TIME TO BUY’ have been at their loudest…and during any 12 month period in the last 5 years, the voices had it pretty much right.  According to Case Shiller (the...
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love it

The Dangers of HGTV

June 29, 2013
HGTV is dangerous. Needless to say, as a real estate lifer in a real estate family, we watch the channel.  When your five year old wants to stay up to see whether or not a couple decides to ‘Love It’...
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cantor_opt

Is It a House or Is It “Housing?”

May 14, 2013
I live in a HOUSEand you live in a HOUSE, but collectively, we live in HOUSING. Please explain… Individually, we buy a house (or condo) that fits our needs and personality.  It can be big or small or it can...
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Pushing Back

May 9, 2013
While every purchase or sale situation and deal is different, at some point in the offer/counter-offer process one of the three following statements is uttered: “What should we offer?” “Should we take it or should we push back?” “Tell them...
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Closed elevator

The Elevator Speech

May 7, 2013
OK, we are on an elevator and you ask me what I do. The following article is, more or less, a directory of the different 1 minute ‘elevator speeches’ for many of the common questions that I get asked.  The...
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Banners_and_Alerts_and_Edit_Post_‹_RICHMOND_VA_MLS___A_One_South_Realty_MLS_Search_Site_—_WordPress

Million Dollar Homes For Sale in Richmond VA

April 14, 2013
No matter where you go in the US, one million dollars is a measurement by which salaries and homes are compared. [ listings in excess of $1MM are below ] Each market in the US (and the world) has their...
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048_opt

Understanding Condo Dues

April 14, 2013
Someone should write a condo app. The app wouldn’t sell anything or make sounds or track anything. It would simply be an app that brokers could point their clients to once the litany of questions about condo dues comes up....
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Cyclist riding a bike

Is Your Realtor a ‘Cycle-ist’?

April 6, 2013
A quick note –– the original date of this article is April 6, 2013. In the years that followed the 2008 crash, no one really seemed to care about the fact that we had lived from the bottom to the...
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Ginter Park and Ginter Place

March 28, 2013
I really have become a fan of Ginter Park. In April of 2012, we were asked to take over the lead sales of the Ginter Place project (the old Richmond Memorial Hospital Complex) along Westwood Avenue.  The hospital complex abuts...
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represent

What Does A Buyer’s Agent Do?

March 22, 2013
A buyer’s agent works for YOU when you buy a home. When we say ‘works for YOU‘ we mean that it is YOUR interests that are the primary focus. While all agents are supposed to be on their best behavior...
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flip

Flipping Houses in a Static Market

March 14, 2013
As we find 2010/11 a smaller and smaller object in the rear view mirror, the real estate world appears to be returning to some sort of normalcy.  The number of foreclosed properties is down as is the number of short...
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back to the future

Back to the Future – Midlothian

March 3, 2013
A few weeks back, one of the agents in our office called me during negotiations on a home in the West End. The owner of the property had purchased the home in 2006 and the question was asked, ‘How do...
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sell

Is It the Right Time to SELL a Home?

February 21, 2013
Google shows almost 14 Billion* results for the following search “Is it a good time to buy a house 2013” Google shows only 2.6 Billion* results for the following search “Is it a good time to SELL a house 2013”...
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foreclosure

Are Foreclosures Good Deals?

February 20, 2013
It depends.   According to the statistics below, since 2011, in suburban Richmond, the REO market (Real Estate Owned by banks)  accounted for roughly 5.6% of the market (228 of 4,028 sales) and traded at an average of nearly 15%...
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fire

Richmond’s Hottest Zones

January 31, 2013
Calling All Sellers! The last two sales in the Fan District that we have been involved with both resulted in multiple offers…and when we say multiple offers, we mean 5 (or more) on a home.  And, no, this is not...
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sf

Price per Square Foot | A Critique

January 23, 2013
The most important thing to remember about price per foot is that it is not linear. The next most important thing to remember about price per foot is that it is not linear. What do I mean? Just because a...
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ecva

EarthCraft Homes in Richmond

January 23, 2013
As a group that loves new houses, we especially love the ones that are built to a higher standard.  EarthCraft of Virginia sees to it that more and more homes are built to standards that far exceed the ones demanded...
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office

We Bought an Office!

December 30, 2012
We recently closed on 2314 W Main Street as the future home of One South. Sometimes known as the Richmond Kickers Building (as it was at one time the home of the soccer team and the mural on the side...
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Affordable and Desirable Chart - Arrow and Target

RVA Affordability and Taxes

November 11, 2011
In this video I discuss the prices and local tax rates you should expect to find for typical suburban housing (e.g., 4-bedroom, 2.5-bath, 2 car garage) in the Richmond Virginia area including the surrounding counties.
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00_Scots_Landing

What The New Home Market Looks Like

October 24, 2011
As a Real Estate lifer, sometimes it is hard to turn off my need to know what is going on. I think people in every industry are that way…real estate, information technology, automobile…it doesn’t matter. When you are not working,...
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southland-wine

The Cold Storage Project

September 9, 2011
Answer:  “About 700 apartments.” Question:  What is happening at the corner of 17th and E Broad? The Richmond Cold Storage complex is a series of warehouses that produced ice (thus the name) as well as a few other warehouses and...
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iStock_000002289637Small

The Case for Tax Abatement

September 4, 2011
The tax abatement program that was put into place in the City of Richmond in the 1990’s has been another lesson in incentivized urban renewal that has, for the most part, worked quite well. What is Abatement? The abatement program...
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VCU

Buying for the Student – The VCU Housing Options

September 4, 2011
The Best VCU Housing Option – Buying a ‘Dorm’ I would like to offer the following debate to the parents of VCU students and their Medical School counterparts who are coming to Richmond this summer (or who have already arrived)...
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