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Welcome to the premier resource for all real estate information and services in the area. We hope you enjoy your visit and explore everything our realty website has to offer, including Richmond real estate listings, information for homebuyers and sellers, and more About Us, your professional Richmond Realtors.

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If you're planning to sell your home in the next few months, nothing is more important than knowing a fair asking price. We would love to help you with a FREE Market Analysis. We will use comparable sold listings to help you determine the accurate market value of your home.

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Testimonials

Thank you so much for taking the extra effort to make our first home purchase successful. You were there guiding us through all the crucial and important steps! You really listened to what we wanted in our home and you found exactly what we were looking for - at an amazing price! If we ever outgrow this home, we'll definitely be calling you! The Freeman Family
It gives me great pleasure in expressing my sincere appreciation for the rare professionalism displayed by agent, Sylvia Lambert, in negotiating the recent sale of my real estate property. Sylvia was undeterred in her efforts to sell the property. She coordinated each and every aspect with precision. She made sure that every detail was covered. In addition, her pleasant disposition and manner made things easier during difficult times. Jerome T. Cater
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Housing stats and analysis from NAR

REALTORS® Reported Strong Buyer Traffic Amid Tight Supply in Many States in March‒May 2016

In the monthly REALTORS® Confidence Index Survey, the National Association of REALTORS® (NAR) asks members to rate the past month’s buyer and seller traffic in the neighborhood or area where they make most of their sales. NAR compiles the responses on buyer traffic into a REALTORS® Buyer Traffic Index and the responses on seller traffic into a REALTORS® Seller Traffic Index.

The maps below show the condition of buyer and seller traffic using data collected from March‒May 2016, according to the May 2016 REALTORS® Confidence Index Survey Report.

Local conditions vary in each state, but the REALTORS® Buyer Traffic Index indicates that markets were “moderate” to “very strong” in all states except in Alaska, Delaware, and Connecticut where buyer traffic was “weak.”[1]

buyer traffic

Amid strong demand, seller traffic was “weak” in many states, measured by the REALTORS® Seller Traffic Index.[2] However, seller traffic was “strong” in several states, including those that had benefited from the oil boom but who are now facing slower job growth due to lingering lower oil and natural resources prices—North Dakota, Wyoming, New Mexico, and Texas. The slower job growth and job cutbacks in these states have led to more home selling and a shift to a buyer’s market.[3]

seller trafficSparse new home construction has been a major factor driving prices up. Although the number of permits authorized for new privately owned housing units has been improving (1.15 million units on an annualized basis in May 2016), 53 percent of new construction has been multi-family structures, which are mostly for rental occupancy.[4] In 2005, multi-family structures accounted for only 20 percent of new construction, so the availability of single-units for purchase among recently constructed properties is lower than is historically normal.REALTORS® reported low inventory of properties in the lower price range and for those that are move-in ready. The gap in demand and supply has led to strong price growth especially in California, Colorado, Florida, Oregon, South Carolina, Utah, and Washington. Of the 178 metro areas that NAR tracks and has price data on, 28 metro areas experienced price growth in the range of ten to 25 percent in the first quarter of 2016 compared to the levels in the first quarter of 2015.

new privately ownednew private 1 unit


[1] The index for each state is based on data for the last three months to increase the observations for each state. Small states such as AK, ND, SD, MT, VT, WY, WV, DE, and D.C., may have fewer than 30 observations. Respondents were asked “How do you rate the past month’s buyer traffic in the neighborhood(s) or area(s) where you make most of your sales?” Respondents rated conditions or expectations as “Strong (100),” “Moderate (50),” and “Weak (0).” The responses are compiled into a diffusion index. For graphical purposes, index values 25 and lower are labeled “Very weak,” values greater than 25 to 49 are labeled “Weak,” a value of 50 is labeled “Moderate,” values greater than 50 to 75 are labeled “Strong,” and values greater than 76 are labeled “Very strong.”

[2] Respondents were asked “How do you rate the past month’s seller traffic in the neighborhood(s) or area(s) where you make most of your sales?” Respondents rated conditions or expectations as “Strong (100),” “Moderate (50),” and “Weak (0).” The responses are compiled into a diffusion index. A value of 50 indicates a balance of respondents who reported “Strong “and “Weak” markets. For graphical purposes, index values 25 and lower are labeled “Very weak,” values greater than 25 to 49 are labeled “Weak,” a value of 50 is labeled “Moderate,” values greater than 50 to 75 are labeled “Strong,” and values greater than 76 are labeled “Very strong.”

[3] https://communityimpact.com/houston/the-woodlands/economic-development/2015/12/09/falling-oil-prices-starting-to-affect-woodlands-economy/http://www.theatlantic.com/business/archive/2015/06/north-dakota-oil-boom-bust/396620/

[4] Based on the latest data for the first quarter of 2016, 92 percent of the multi-family units completed were for rental occupancy with regions varying from 90 percent in the West to 100 percent in the Midwest. Source: Census Bureau. Quarterly Starts and Completions by Purpose and Design, Units Per Building, 2016 preliminary data. https://www.census.gov/construction/nrc/pdf/quarterly_starts_completions.pdf

 

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Styled, Staged & Sold

My Favorite Staging Accessory: Greenery

Styled Staged & Sold will be featuring staging professionals’ favorite staging accessories and props over the next few weeks. (Do you have a favorite? Submit your favorite for consideration to mtracey@realtors.org.)

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Photo credit: Michelle Boyle, California Chic Staging

Go-to prop: Fake tree or plant

Stager: Michelle Boyle, owner of California Chic Staging Co., Roseville, Calif.

Why I love it: “So many people use awful and outdated greenery in homes. Spending the money on really great greenery makes all the difference when creating a look and feel for a home. You want a fresh, modern piece to help accessorize the space.”

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Photo credit: Michelle Boyle, California Chic Staging

Make it work tips: 

  • Learn the difference between a “good” fake tree and a “not so good” one. Typically, the better ones cost a lot more, but not always. Scout out places like Home Goods or Target. Some types of trees and plants can pull off being fake versus real much better, such as succulents, grasses, and Boyle’s personal favorite — the fiddle leaf fig tree.
  • A great place for adding greenery in a home is large empty corners of a room, coffee and side tables, and in bathrooms.
  • Don’t overdo it. Use fake greenery sparingly, such as one or two pieces in the main living room and one in each room thereafter.
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Photo credit: Michelle Boyle, California Chic Staging

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Photo credit: Michelle Boyle, California Chic Staging

 

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Mortgage Information Disclaimer:

Any mortgage information contained herein is provided for informational purposes only and is not to be relied upon.  Please contact a lender directly to learn more about its mortgage products and eligibility for such products.  Lifelong Realty, Inc. is not a mortgage lender, but is one of the top independent and locally owned real estate firms in RVA.