Deb Orth

Hi Ken,

Richmond is still a very good place to buy a home and most areas will appreciate in value at a reasonable rate of appreciation. Real estate, for the average homeowner, should be looked at as a long term, i.e. 5 to 7 year, investment. If someone buys now, it is likely that the property will increase in value enough that there would be more than enough equity to pay off the original mortgage and still have funds left over to contribute to the next purchase.

It's important to remember that in addition to the appreciation that comes with buying real estate, there are the tax benefits that come with it, such as deduction of interest paid, real estate taxes paid, and other deductions associated with home ownership. I'm not an accountant and can't give specific tax advice, but your tax professional can advise you.

Relative to which parts of Richmond are more likely to appreciate in value than others, that can vary even in neighborhoods. Once you decide where you want to live in relation to where you work or, if you have a family, where you would want children to go to school, then your real estate professional can perform an analysis of areas that you are considering.

Wishing you all the best, and Welcome to Richmond!

Deb Orth
Keller Williams Realty
Richmond, VA
deb@RichmondHomes4You.com http://www.RichmondHomes4You.com - Sun Aug 10 2008, 01:22

Hi Stephanie,

Some people subscribe to monthly subscription services for these lists but the data is often out of date when received. The best way to get a list of foreclosed properties on the market is through a realtor. If you're looking for investment properties, a realtor can also help you idnetify properties on the market that are also subject to a "short sale" which means the lender who owns the mortgages on these properties may be willing to accept much less than what is owed on the house and this in some cases could be a "good deal" for an investor.

I can provide you with more info on both if you wish.

Deb Orth
Keller Williams Realty
Richmond, VA
Deb@RichmondHomes4You.com - Thu Jul 31 2008, 02:06

Dan,

Since you earlier said you were moving to Richmond, I can tell you that we have townhomes in the $150's as you mentioned, but they would primarily be located in Chesterfield County. Send me an email with your contact info and I can set you up on an MLS search.

Regards,
Deb Orth
Keller Williams Realty
Richmond, VA
Deb@RichmondHomes4You.com - Sun Jul 27 2008, 02:17

Hi Dan,

It shouldn't take much longer than any conventional loan as far as being able to close on a property you've found. Government back loans such as VA and FHA loans may have a little more bureacracy attached to them, but if you are prepared, have all your paperwork together such as your certificate of eligibility, good records concerning your debts and income, then it should be smooth sailing.

We have an abundanceof homes in all price ranges here in Richmond and depending on your loan approval, you should have an easy time finding a home and then closing on it. If you do not already have a realtor in mind, I'd be delighted to help you. Feel free to contact me.

Regards,

Deb Orth
Keller Williams Realty
Richmond, VA - Sun Jul 27 2008, 02:11

A friendy call to the homeowner would be appropriate. You can arrange a visit to see if it is a house you'd really love to call home, and, if it is, make the owner an offer. If it's good enough, he'll accept it and won't list with a realtor. Your bargaining power is that, without an agent of your own, you can offer him a price that isn't inflated by a sales commission.

However, going it alone, unless you've done this before and have the experience to negotiate all aspects, not just the price, can be filled with landmines. Realtors can help you avoid those and still get you a good deal. But,if you feel comfortable navigating these waters, I say go for it and let us know how it turns out for you.

Deb Orth
Keller Williams Realty
Richmond, VA - Tue Jul 15 2008, 00:49