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Bob Chance's Blog

By Bob Chance | Broker in 23454
  • Attention Military: Earn Cash Back When you Buy or Sell!

    Posted Under: Home Buying in Virginia Beach, Home Selling in Virginia Beach, Military Movers in Virginia Beach  |  September 7, 2014 4:28 AM  |  36 views  |  No comments
  • 5 Reasons to Sell BEFORE Winter Hits

    Posted Under: Home Selling in Virginia Beach  |  September 3, 2014 9:04 AM  |  24 views  |  No comments

    People across the country are beginning to think about what their life will look like next year. It happens every Fall. We ponder whether we should relocate to a different part of the country to find better year round weather or perhaps move across the state for better job opportunities. Homeowners in this situation must consider whether they should sell their house now or wait. If you are one of these potential sellers, here are five important reasons to do it now versus the dead of winter.

    1. Demand is Strong

    Foot traffic refers to the number of people out actually physically looking at home right now. The latest foot traffic numbers show that there are more prospective purchasers currently looking at homes than at any other time in the last twelve months which includes the latest spring buyers’ market. These buyers are ready, willing and able to buy…and are in the market right now! As we get later into the year, many people have other things (weather, holidays, etc.) that distract them from searching for a home. Take advantage of the buyer activity currently in the market.

    2. There Is Less Competition Now

    Housing supply is still under the historical number of 6 months’ supply. This means that, in many markets, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market. There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market in the near future. Also, new construction of single-family homes is again beginning to increase. A recent study by Harris Poll revealed that 41% of buyers would prefer to buy a new home while only 21% prefer an existing home (38% had no preference). The choices buyers have will continue to increase over the next few months. Don’t wait until all this other inventory of homes comes to market before you sell.

    3. The Process Will Be Quicker

    One of the biggest challenges of the 2014 housing market has been the length of time it takes from contract to closing. Banks are requiring more and more paperwork before approving a mortgage. Any delay in the process is always prolonged during the winter holiday season. Getting your house sold and closed before those delays begin will lend itself to a smoother transaction.

    4. There Will Never Be a Better Time to Move-Up

    If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by over 19% from now to 2018. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30 year housing expense with an interest rate in the low 4’s right now. Rates are projected to be over 5% by this time next year.

    5. It’s Time to Move On with Your Life

    Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should? Only you know the answers to the questions above. You have the power to take back control of the situation by putting your home on the market. Perhaps, the time has come for you and your family to move on and start living the life you desire. That is what is truly important. 

    Article Source


    If you are contemplating placing your home on the market, I'd be happy to answer any questions you may have.

    Bob Chance, Associate Broker
    William E. Wood and Associates
    222 Mustang Trail
    Virginia Beach, VA  23452

    757-672-2089 (direct) or 757-486-2410 (office)
    www.bobchancerealtor.com

    EHO/Licensed in VA

  • Ocean Lakes Community Yard Sale - September 12, 2014

    Posted Under: In My Neighborhood  |  September 3, 2014 8:59 AM  |  23 views  |  No comments
    It's time once again for another great Ocean Lakes Community Yard Sale.  

    Date:  September 12, 2014
    Time:  7:00 a.m. - 12:00 p.m.
    Location:  Wellsford Park (1718 Wellsford Drive, Virginia Beach, VA)



    Be sure to stop by and visit -- I'll be cooking the hot dogs!

    Bob Chance, Associate Broker
    757-672-2089 or 757-486-2410
    www.bochancerealtor.com



  • Credit Scores Could Rise With FICO’s New Model

    Posted Under: Home Buying, Credit Score  |  August 21, 2014 11:06 AM  |  40 views  |  No comments

    Good new for homebuyers!  Check out this article provided by nytimes.com...

    The creator of one of the most widely used and influential credit scores, FICO, said on Thursday that the latest version of its score would no longer weigh medical debts — which account for about half of all unpaid collections on consumers’ credit reports — as heavily as it did in previous iterations.

    The newer FICO scores, available this fall, will also ignore any collections that have already been paid; previously, the scores factored paid and unpaid collections equally, though it ignored amounts under $100.

    Continue reading here

    _______________________________________________________

    If you are thinking of purchasing a home, it would be pleasure to assist you.

    Bob Chance, Associate Broker
    757-672-2089 (direct)
    www.bobchancerealtor.com


    222 Mustang Trail, Virginia Beach, VA  23452
    757-486-2410 (office)

    EHO/Licensed in VA

  • How to Hire a Contractor: Five Great Tips

    Posted Under: Remodel & Renovate, Design & Decor, Home Ownership  |  August 21, 2014 6:30 AM  |  42 views  |  No comments

    Considering a home improvement project or energy-efficiency upgrade? Finding the right contractor is important; a project that has gone wrong can cost you. And, a good advertisement doesn't mean that a contractor can do the work. By asking the right questions and doing your homework, you can save time and money.

    1. Starting your search
    . Check with family or friends who have used a contractor. Take a look at the work completed and ask about their experience. Look at sites, such as Angie's List that post ratings and reviews. Search Find a Professional Contractor from the Air Conditioning Contractors of America for a list of home comfort professionals in your area. For remodeling or renovations, search the directory of the National Association of the Remodeling Industry for member contractors.

    2. Ask questions. Once you've assembled a list of prospects, contact each one and ask the following questions:

    • How many years has your company been in business?
    • How many projects have you completed in the last year and how many will you have going at the same time?
    • Do you use subcontractors? If so, how long have you worked with them?
    • What types of insurance do you carry (liability, workers' compensation)?
    • Can you provide a list of previous clients as references?
    • What licenses or certifications do you have?

    The answers to these and other questions should give you valuable information about the contractor's experience, qualifications, and reliability.

    3. Do your research. Select a list of candidates and follow up by contacting references and asking them about the contractor's performance. Check with your state consumer protection agency or local Better Business Bureau for information about any past complaints or problems. Contact your state licensing agency to make sure the contractor is licensed appropriately.

    4. Compare estimates. You've narrowed your list to two or three contractors that appear to be experienced and reliable. Now, it's time to get written, itemized estimates and compare them. The estimate should include all work to be completed and a break down of all expenses, such as labor and materials. Don't just take the lowest bid. Choose the offer that you feel most comfortable with, and the one that matches both your budget and your goals.

    5. Get it in writing. Sign a written contract before the work begins. The contract should include details such as the start date and estimated time of completion, payment schedule, warranties and proof of insurance, as well as products and materials to be used. While your contract may include items specific to your project, make sure you have a clear, detailed proposal that is understood by both parties. Remember to withhold final payment until the project has been completed to your satisfaction. 

    Pass it on 

    Did you use friends or family, or trusted online sites to find your contractor? If so, you can help others. Report your experiences, good or bad. This information will be valuable to other homeowners looking to save energy, increase comfort, or improve their living space.

    Source:  www.energy.gov


  • NAS Oceana Air Show 2014

    Posted Under: General Area in Virginia Beach, Entertainment & Nightlife in Virginia Beach, Parks & Recreation in Virginia Beach  |  August 20, 2014 4:51 PM  |  72 views  |  No comments
    September 20 & 21

    For complete information, visit oceanaairshow.com.
  • Military on the Move Cash Rebate Program

    Posted Under: Home Buying in Virginia Beach, Home Selling in Virginia Beach, Military Movers in Virginia Beach  |  August 20, 2014 10:25 AM  |  61 views  |  No comments
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