Market Report RVA

Yes, I have seen the rise of the interest rates. Yes, I have acknowledged the low inventory of housing here in Richmond. And yes, I cannot be uber positive about you FHA’ers. This is a strange market, as there was a significant lull up until the beginning of the month and although that change has been in the financing realm, I’m starting to see the past frenzy of over askings and inflated prices happening again.

I am also starting to see the Inspection returning, which in my opinion and as a Buyer’s Specialist, is a comfort. More people are moving here whether it’s for the jobs, for diversity, affordability or just how cool we are. The mixed use constructions around the city are becoming a stamp on the growth we are seeing and I wonder, just how fast are we growing? Traffic at 3:44pm is telling a story!

So, here’s a look at the overall tri-city picture. I’m always happy to sit with you and explain these stats or talk to you about your plans and how this all affects your home selling or buying plans.

Trekking Solo

The month of February can be brutal for some. Some us who don’t wish to celebrate a Hallmark inspired holiday, glorifying how unloved we feel. So, from someone who has been through that, I would like to suggest falling in love—with a trip. I find traveling to be the remedy for heartbreak, like, go fall in love with a place not a person. The rewards will be better than any candlelit dinner or chocolates, I promise.

What I like about solo travel is that it opens you up to possibilities rather than adhere you to someone else’s itinerary or mood swings. Whether you choose to commune with nature or go for a foreign jaunt, traveling alone is liberating, rewarding, and gives you time to get to know yourself. Are you ready?

Pick a Destination. Make it fun, put all your bucket list destinations in a hat (mind you, just put those that fit your current budget), and choose!

Timing. Pick your date. Do you have to take time off of work? How long do you want to go for? Make sure you don’t have anything planned during that time like an upcoming wedding or shower.

Plan. Now that you have a destination, consider it’s locality. What are your necessities? How will you travel? Do you need inoculations or passports?

Book. Book your transportation, your lodgings, your restaurants, and any museums/events you plan on doing. This will save you standing in line or missing out on a wishlist item. AirBnB’s have been the best lodging experience I’ve had traveling unless you know someone where you are going. This allows you to get to know a neighborhood, meet someone local, and save money on food and lodging.

Research. Create a Google map and pin all the places you would like to see on your trip, even those you may not get to. Moods change. Make sure you see how walkable it is from your lodging or what the transportation options are (taxis, Ubers, trains, busses)

See Off-the-Beaten Path Stuff. Don’t be a tourist, check out some unconventional things and gain a new experience. Listen to the locals, talk with them, they always have cool suggestions.

Learn the Language. If you are traveling abroad learn a few phrases before going. DuoLingo is great for this. Things like, “Do you speak English?”, “Where is the bathroom?” “I’m lost, can you help me?”, and how to order food and drink are big ones. Most places, you will find English speakers, but ALWAYS be considerate to other people’s culture and language, that includes within the states (yes, Southerners and Yanks do things differently). We now have apps that can help you like Google translate.

Dressing. The biggest advice for packing is don’t pack too much. You’ll wear less than half the clothes you bring. Don’t forget these:

• Mix-and-match ensembles will make your luggage lighter and give you the ability to buy something there if you wish.

• A dress up look with shoes or a day-to-night look. Can’t tell you how many times I’ve been out all day and then I get invited to a dinner with no time to go back and dress.

• Dudes, bring a dinner jacket (nothing says American like shorts and flip flops)

• Don’t forget the bathing suit for hotel pools, rivers/lakes, and hot tubs.

• Weather appropriate clothes.

• A comfortable bag you can walk around with. I suggest cross body bags to deter any places with pickpockets.

Get Lost. If you are traveling in a city, take a day off and get lost. Sometimes not having a plan will help you discover real beauty or stumble across a treasure. DO NOT plan too many things in a day, give time for rests or just chilling.

Journal. Write about your travels, what you see, what you ate, who you met. I promise it is the most rewarding thing to go back years ahead and read about your experience. It is unique to you and others will be able to share in that experience.

Ladies. If you do travel solo, always be aware of your surroundings and know where you are. Once again do research. There is a great blog for you solo lady travelers called I Am AiLeen. Tell someone where you are going in case you are going a la “off grid”.

Check Your Vehicle. If you are traveling by car, make sure to get a checkup before you leave. Check the oil, tire pressure, bring a gas container, check your windshield wipers, and brakes.

Eat. Be adventurous. I hated olives until I went to Spain. Pickled herring is also not as bad as it sounds. Try all the local famous foodstuffs.

Do a Tour. I am not a fan of guided tours, but one which is customized to your interests or a smaller group is the way to go. You’ll learn a lot more from it. If you happen to go to Paris, I highly suggest paying the money to go on a tour with Art Journey, this isn’t your parent’s guided tour.

Go on a Date. Yeah, I said it. Get on that dating app and find someone who can give you a first hand tour of where you are, no-strings-attached. Be up front about it, have fun with it. You might make new friends!

Lastly, here are some essential items to bring on your trip:

• Umbrella or Raincoat

• Always bring a Jacket!

• A First Aid Kit

• Comfortable and Supportive Shoes

• Medications (although they are cheaper outside the US)

• Adapters if traveling outside the country

• Wireless phone charger

The hardest thing for a lot of people is to do things by themselves, especially after a breakup. Traveling will allow you to do this easily because you are distracted by the sites and sounds of something new. Your date with a new destination will be your honeymoon for one and frankly, sometimes the best dates are about exploring a new canvas. Happy Travels!

Establishing Trust

I’m going to get a little personal here, but I think it’s good information for all those going through the same thing. Recently, a family member was diagnosed with dementia. This person is totally of sound mind right now, but we’ve run into some snags along this process. One being, they have only one child, and that child, as horrific as it may be, has decided that they want no part in their parent’s short or long term care leaving that responsibility to other members of the family.

This person is now dealing with a serious challenge(s) and it got me to thinking about how it will all resolve upon the worsening of their condition. They have no plan in place for one thing. This person is well into their 70s and with the assumption that their spawn would take care of them, is now left to their own devices. No will. No long term care plan. No real money to get them the help they might need once their faculties decline. So, now I think about my own parents, and myself for that matter. My parents are completely prepared for their final curtain calls, much to my guilt as their child. As I approach mid-century existence, it prompted me to yet again, read the fine print of adulthood, the next phase. I mean, who doesn’t want to take care of their moms and pops when they can’t do it themselves any longer? Isn’t it our responsibility as their children to take the reins on this and how many of us can feasibly do this? I save this for another discussion, back to it…

My family member is combatting the end of their independence which can be devastating, not to mention the denial aspect of the sickness to begin with. They sit on a 1500+ sq ft home on a double corner lot in a very desired school district. No power of attorney identified and no desire to leave their home. They are starting to have a hard time remembering where things are—ie. the deed to the house. The responsibility for their medical has been established, but what of their assets? It’s a legit concern and one I think about for not only my parents, but myself. It’s not always going to be us they choose.

Estate planning was never on my radar, but I have an Attorney friend who specializes in this type of law, and I was able to get some good tips about some simple ways to do this. Incidentally, when I thought about “estate”, it leads me to think of someone who has many assets or a wealthy state of being, but I’ve learned that this is not really the case most times. It’s about being prepared for the unexpected. The best thing to do is plan ahead and find a local attorney who can guide you through the process with ease to save you time, money, and familial emotional upheaval.

Here are the key points:

Establish a Living Trust. Wills aren’t always effective plans when distributing assets. It’s recommended to do a Living Trust, which basically means the beneficiaries you name in your living trust receive the trust property when you die and you can manage it while you are still living without the process of probate.

What is this probate you speak of? Probate is the official proving and recording of the will as the authentic and valid last will and testament of the deceased. It is time consuming, can be costly, and messy.

Establish a Fiduciary. This person can be a trusted family member. They will manage your assets and financials when you cannot. Make sure you put everything from the phone bill to your insurance on the list. Listing your assets and assigning them is also a good way to be prepared.

Establish Beneficiaries. These will be the individuals or the estate itself that will benefit from your assets. Be specific and everything from insurance policies to the dog should be assigned.

Establish Power of Attorney. This one is important, especially if you become unexpectedly incapacitated mentally. They will help you manage your financial and medical decisions when you cannot, but will also save a family member from an arduous process. If something unexpected happens to you and you, what are your wishes for your property? Sell, rent, pass along to a family member, etc.

Hire an Attorney who will guide you. Attorneys that specialize in this realm will help you save time and money. They will also help you establish your estate in a more private atmosphere.

For more information, feel free to check out some FREE information on Mr. Nance’s website, he has some good tips to follow.

Only In My Dreams

Laundry/Utility Room with Dog Washing Station (Yes, Please)

We all have dreams. I’ve been dreaming of my dream house before Barbie had hers! When I show houses, I find it interesting what people find to be desirable features. There are times when the lack of these coveted components will make or break a sale. I once had a buyer who refused to look at any homes where the bedroom was near any of her children’s rooms and one client really wanted a dumbwaiter. I personally would love a home with a library, but hey, I’m still dreaming.

Everyone has different tastes, but trends in buying change either from demographic to demographic or what HGTV tells them it is. So I decided to do some research in finding what buyers find the most yearned for features in a home currently. I also asked my Facebook friends out of curiosity!

A Room for an Office
Thanks Covid! As most of us have jobs and bosses who realize working from home is just, if not more productive. This has become a very desired amenity.

Eco-Friendly
83% of Buyers Want ENERGY STAR-rated Windows. Climate change is finally becoming trendy! Seriously though, clients are starting to ask for these type of eco-friendly features. From solar panels to energy efficient lighting to garden areas, homes built for saving the planet will soon become permanent fixtures.

Hardwood Floors
This still ranks pretty high on the list. More than 80% of buyers want hardwoods and I have literally had clients run at the sight of carpet. If you are selling and there are hardwoods underneath, get ready to rip some carpet out.

Hidden Appliance Storage (I need this in my life) - Houzz

Granite, Quartz, and Marble
Buyers want these materials in their kitchen and prefer countertops that will last and not stain.

The Downstairs Main Bedroom Suite
I’m finding more buyer are looking for this desired trait and I’m finding newer homes that has implemented this or the downstairs full bath. Transitional home buying, people want to think of their forever homes as fitting their growing needs.

No Sweat! A Home Sauna - Realtor.com

Laundry
Everyone wants a laundry room or a dedicated area for laundry. Whether people want up or down, I’m not able to say for sure. I can tell you that I prefer up. I don’t want to have to carry loads of laundry upstairs!

Outdoor Living Spaces
This one can also be attributed to our friend Covid. People really want patios and wrap arounds to hang out on and having outdoor lighting to enhance the experience.

Open Floor Plans
People are still loving this. Being in all the places at once seems to continue to be a solid want for buyers.

More Storage Areas

Renovated Kitchens and Bathrooms
They want it! The two most sellable rooms in a house.

Storage in General
Walk-in closets, garages/sheds/workshops, pantries, and shelving are all winners. People want to be able to not see their stuff!

Pot fillers are becoming quite popular and double basin sinks are ranking up there as well. An honorable mention to powder rooms and built-ins. Sellers, if you plan on listing your home, keep these in mind as they can increase the value of your home.

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Here’s what my FB Family said they wanted in the home:

Zero lawn. None. No weeding, no trimming, no mowing, nothing. Just a door I walk into that has my stuff inside it. Like the house in Gretel and Hansel. Or the one at the end of Contempt. - Nathan T.

• An Outdoor Bathroom

• More Storage

• Low Maintenance

• High Ceilings

• Bigger Kitchens

• Acreage

• Vaulted / Coffered Ceiling

• Some Character

• Hardwoods Throughout

• Pot Filler

• Butler’s Pantry

• Sauna

• Secret Room (ding ding)

• Cast Iron Tub

• Light, light and more natural light!

• Finished Attic/Basement

• Pools

• Fireplaces

• Sun Rooms

• More kitchen counter space

• A Proper Mudroom

• A Laundry Chute

• Patio/Covered Outdoor Area

• Smart Flow Kitchen

• Coffee Bar Area

“A GARAGE.”

— said Everyone

Listing Commandment: Thou Shall Update

When I go on a Listing appointment, I have to be honest with my clients. If I were one myself, I surely wouldn’t want my agent to skirt around issues that may not be helpful in selling my house. Depending on the age and lived in status of your home, I usually suggest “improvements” to add value to your sale. Look, I know you don’t like homework. I get it, all you want to do is sell your house with minimal efforts and move on. As with all things this big in life, it is always good to plan ahead.

Kitchens and Bathrooms. It’s the two things in a home that most people pay the closest attention to when buying a house. They can be costly renovations from anywhere of $15K and upward. Any renovation can put a strain on your wallet, but some quick and simple amendments to your home can change the overall value of it. So ask yourself, do you want to get the greatest value for your home? I’d say, “duh”.

Here are a few suggestions to help enhance your home sale:

Painting is easy, a fresh coat of neutral paint goes a long way!

Radiators. If your radiators are no longer usable. Drain them and get rid of them. This will add space and ability to switch furniture around.

Windows. If you have any non functioning or broken windows, go ahead and replace them. This tends to show up on appraisal reports.

Update Light Fixtures. Take out those “boob” lights and replace them with modern chandeliers or pendant lights. If you have rooms that don’t have overhead lighting, seek to add it.

Repairs. If the toilet is broken, have it fixed. If you know of a roof leak, have it repaired. If little Johnny put his foot in the wall while pretending to be a Thundercat, mend it. If there are lights without bulbs or don’t work, fix it. Damage or non-working fixtures that will cause a buyer’s eye to wander can be easily replaced.

Borders. You bought in the 90’s and you never got rid of that kitchen floral border. My mom has this in three different rooms, I told her to remove it already!

Wallpaper. Wallpaper is a pretty chic addition these days, but if your wallpaper is from the 70’s giving you flashbacks of Aunt Mabel’s Jello casserole, you may want to get rid of it.

Carpet. If there are hardwoods, expose them. You can easily check this by simply pulling up a corner using a butter knife. I cannot tell you how many houses I show where buyers ask if there is hardwood underneath. If it was a newish installed carpet, have them steam cleaned. If you have dull looking hardwoods, have them refinished to give it a whole new refresh.

Dated Appliances and Systems. Find stainless at the Scratch n’ Dent or Marketplace, or you can check out some local estate sales and find some gently used ones. Replace old (15+ years) Heating and cooling systems as well as water heaters and washer/dryers with updated ones. You don’t want a buyer who enters a freezing cold living room during showings. The more energy efficient the better.

Cabinets. If you don’t replace them, paint them for a quick update. You can also add some nice pulls and handles to give it an extra oomph.

Countertops and Backsplashes. Consider replacing countertops with Quartz or Granite and add a tile backsplash to your kitchen or bathroom to add some color or texture to it.

Bathroom and Kitchen Fixtures. Everything’s coming up brass/gold/black these days, so my suggestion would be to replace faucet, showerheads, towel racks, drawer/cabinet pulls with something elegant and modern. Just make sure it’s cohesive per room.

Source: Houzz

Create a functional foyer. If you have an actual foyer, make it functional. Add a makeshift mudroom, under stairs storage or pet kennel, or simply adding some contrast by battening the walls or adding wallpaper to your stairwell can enliven your entryway.

Add Built-ins. People love a flanked fireplace with built-ins. Consider your space and whether this would be a nice feature to add to your home’s look.

Add a patio or deck. This can be an inexpensive feat that will create an inviting option for potential buyers and add value. Who doesn’t love outdoor entertaining.

Sheds. Simply organizing a workshed to show off space and functionality can be beneficial. If you can recreate it into a home office, that would be highly desirable to a lot of buyers these days.

Other Simple Improvements

Ceiling Fans. If these are dated, replace them with more modern looking ones.

Replace Vinyl Flooring. Adding tile floors to bathrooms and kitchens is always a desired feature.

Knock out a wall. If it’s feasible to create an open space, do it. That particular floor plan has not died out.

Add Shelving. Add shelving to your laundry room if it doesn’t have it. Take out wire shelving in walk-ins and replace it with wooden ones. Gives it a whole other look.

Basements. Consider finishing it off, it’ll add to your square footage and can be marketed easily.

Spruce up your front porch. You want potential buyers to see themselves here and the front being the first impression, sets the mood for the entire showing. Fresh paint, nice seating, add a porch swing, some plants/flowers, update your house numbers, whatever will attract the neighbors for afternoon iced tea is the ticket.

Mailboxes. If your mailbox is falling off or looks like it’s still gets Reader’s Digest, upgrade it. There are many unique and pretty ones out there.

Front Doors. Paint them, it’ll make the front of your house look more attractive.

Landscaping. Mowed and black mulch will create quick and easy curb appeal. Add flowers for full effect.

Lastly, there are many things I ask clients to do before putting their houses on the market that include thinning it out, professional cleanings, stagings, getting rid of personal items, and so forth. It’s how I earn that commission check. A good agent will give you a tasklist and will be available for questions. A good agent also provides trustworthy resources to assist you in prepping your home for sale. Feel free to contact me and I’m happy to do a consult with you regarding the sale of your home.

A Rose is a Rose is a Rose

A Rose is A Rose...

It’s #NationalRoseMonth and we are celebrating these gorgeously, fragrant blooms with some tips.

“No matter where I roam, I will return to my English rose. For no bonds can ever tempt me from she.”

— The Jam

It is the month of the most famously romantic flora—The Rose. I’ve always looked at roses like engagement rings, they are pretty, but they don’t tickle my fancy say, like sapphires and peonies. However, roses hold a significant part of my memory banks and when I think of them, I think of my mother. She used to plant them when I was growing up and was so proud of them. Of course my mom can cultivate pretty much any plant on Earth, unlike my horticulture impaired self.

Over the last year, I’ve been ordering fresh cut flowers and I have been loving these decorative blooms. Some have even made lovely dried flower arrangements around the house. I particularly love the multi-toned hybrids. The rose that gets the best growth in Central Virginia is the—cue “Candle in the Wind”—The English Rose!

So, roses have genealogy as deep as our own and people take cultivating them as seriously as their breeding of Labradoodles. You’d think our roses came from Sir Elton’s home country, but actually they come from 18th century China. Now, for all of us rose dummies, the Kingpin of English roses, is cultivar David Austin. This man combined a special hybrid of old and new world roses. He’s so good at it, he created the most expensive selling rose, Juliet, selling it for $15.8 million. Shoo wee, that’s an expensive bloom sir! These gorgeous blossoms make any bridal bouquet stunning.

Are you ready to adorn your home in these fragrant and fairly easy to grow flora? Here are some tips on how to successfully do so:

1. Make sure it’s sunny! Roses love the sun so make sure where you plant them, they get the majority of the day basking in it.

2. They grow on bushes/shrubs so make sure you space them out accordingly. For the best effect, plant them about 40-45” apart. It will give it a more standout look.

3. It isn’t necessary, but to get best results make sure you compost and fertilize the soil to enrich it and to feed your blooms. Roses tend to grow in most soils, but for ultimate success prep your rose garden and keep the soil moist.

4. Soak them entirely before planting them and plant them quickly. Don’t let the bulb dry out.

5. Because we live in a more moderate climate here in Virginia, plant the base at ground level.

6. Keep them watered well during the first planting. After the first year, you can be a little more lax about the watering, taking it back to about every other day.

7. Remember to trim! You can prune your bushes to dictate how big you want them, but also remember to trim the blooms to make more room for others!

8. Decorate. Get those vases ready and showcase your girls!

Ask your local nursery for more detailed tips. Get growing!

Don’t forget to schedule your visit to Lewis Ginter Botanical Gardens for some prime Rose viewings.