Market Conditions in VCU>Question Details

Ingrid, Home Buyer in Sterling, VA

Are townhouses/duplexes in the VCU area a good investment? Is there anything in the 200-250K price range?

Asked by Ingrid, Sterling, VA Sun Apr 6, 2008

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4
Hey, Ingrid. The standard "Yes, real estate is a good investment" answer misses the mark for the areas around the rapidly expanding VCU campus. To answer your question effectively, questions needing your considered thought address how long you are willing to hold the property? as much nearby property is old, what is your ability to manage the maintenance both logitically (drive down from NoVa) and financially? How do you feel about going ''cash flow negative' from month to month and if you suddenly needed a $5000 repair, does your investment plan/strategy allow for such events without excess heartburn? Tho there is newer construction in the Carver area, in the price range mentioned, make sure your targeted houses don't require 'owner occupancy". Finally, I'd ask any potemtial investor about the 'type' of tenant" you wanted e.g. professional, student, number of occupants, which essebtially points to wear and tear and how watchful an eye does your tenant have over the overall conditin and repair of YOUR investment. Whatever your answer to this last question, Richmond's real estate values have historically maintained value, avoided ups and downs and been solid long term 'holds'...the quality of the experience truly comes down to the reasons for purchasing a long distance real estate investment: straight forward ROI or net-zero-ing on the college room and board ? Hope this helps frame your decision process, let me know if I can assist you further, ok?

ThX
Michael Scott, Realtor,
0 votes Thank Flag Link Wed May 7, 2008
Ingrid...Start by visiting the Overlook on the James River in Oregon Hill. We're open 12-5 everyday. http://www.overlooktownhouses.com/
0 votes Thank Flag Link Thu Apr 17, 2008
Yes, property in general is a good investment if you buy at the right price. The Fan area is a unique area which should be a good investment area. I live near the Fan (actually most people say I live in the Fan) and would love to help you find a place. Are you looking for investment or to live there yourself? Please email me if you are interested in my help. Of course there is never a charge to the buyer for using an agent to find homes. The seller pays the commission. Having a buyers agent is very benefitual in terms of the knowledge on property values etc. My email is wythe.shockley@longandfoster.com. I look forward to hearing from you.
0 votes Thank Flag Link Mon Apr 7, 2008
Yes, townhouse, Condo and duplexes are good investment.
Yes, you can find properties in the 200-250K price range.
0 votes Thank Flag Link Mon Apr 7, 2008
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