It’s Official—The Spring Charlottesville Home Buying Season is Here!
The Spring home buying season is here in Charlottesville, VA. Before you venture out to view Charlottesville homes for sale, farms and land for sale, why not be prepared to take full advantage of your house hunting time. Take a look at these helpful tips which will make your house hunting trip more productive:
- Before we begin our home search, we will eliminate any Charlottesville properties that do not meet your search criteria. This includes homes that fail to meet your price range parameters, your requested number of minimum/maximum bedrooms and baths and any properties that do not match your Charlottesville property type.
- Wear the appropriate clothing and comfortable shoes while you are out and about previewing homes
- Limit the number of Charlottesville homes you preview during your house hunting trip to 6 or 8 Albemarle County properties per day. Why? Because after the sixth property, all properties begin to blend together and it’s difficult to remember the unique features of each property you have visited.
- Remember each property you view by maintaining a notebook of the Charlottesville properties you’ve seen. I also recommend you take notes on each property to track property features, likes, dislikes and other valuable feedback. To help you remember each home’s features, bring along a video camera or digital camera to document each property.
- Never go house hunting on an empty stomach. I will supply plenty of drinking water especially during warmer weather.
- If you have small children, it might be a good idea to hire a sitter during your initial house hunting trip. Once you have narrowed down which homes deserve a second look, then bring your children along to include them in the experience.
- Be sure to consider the amenities of the neighborhood or area. Remember - you’re not just buying a home, you’re also buying the area and the lifestyle it conveys.
What other Charlottesville house hunting tips would you add to this list?
Happy House Hunting,
Your Charlottesville Real Estate Resource
P.S. If you would like to know more about financing a Charlottesville home, be sure to read this post at the Charlottesville Real Estate Blog.
Kudos for Charlottesville
Charlottesville has the wonderful distinction of being voted one of “The Best Places to live”, a top “Green City” as one of “America’s Healthiest Places to live”, and being known for its commitment to Historic Preservation.
Now, Money Magazine has added to the the Charlottesville/Albemarle honors the recognition of the “2nd Best Place to Retire Young”.This recognition was based on Positive Population Growth, within 100 miles of a major metropolitan area (DC as well as Richmond, VA), Housing costs below $350,000, cost of living, Economic health, college presence, and an abundance ogf Recreation, art, and culture opportunities.
In case you weren’t aware
People keep asking our agents, “Why is Charlottesville and the Central Virginia area so special”? Almost every time a survey comes out about best places to live, Charlottesvilleranks very high. Recently, another survey came outranking Charlottesville as a wonderful region for employment.There are many reasons for this continued recognition. Here are just a few:
1) A wonderful teaching Hospital 2) One of the Top Universities in the country 3)Some of the most beautiful countrysideyou can imagine anddriving distance to beaches and mountains4) Great sporting events and cultural activities 5) an up and coming wine region and 6) fabulous restaurants.
Now is the time to Buy!
This truly is a great time to purchase a home. There are lots of homes to see in all price ranges whether you are looking in Charlottesville or the surrounding counties of Albemarle, Greene, Nelson, etc.In addition, interest rates continue to hover around 6% with many loan products from which to choose but that could change asthe US dollar is struggling a bit right now and normally that results in higher interest rates.
So take advantage of motivated sellers andthe increased buying power of lower interest rateswhile both are an advantage to today’s buyer.
Listening to Buyers
Some buyers purchase the exact kind of house they said they were looking for, in the neighborhood they preferred. Other buyers surprise us by falling in love with a house that is the complete opposite of what they originally wanted.
So Roy Wheeler real estate agents listen carefully when buyers describe their needs and preferences. We screen the current inventory of homes to come up with possible matches. Since there is almost always some compromise involved when selecting a home, we may suggest alternatives that might work for buyers.
If you like a specific neighborhood where there are no homes in your price range, we may suggest homes in other areas with similar amenities. If you want four bedrooms, and one of them will be used as a home office, we may look for a den or family room that could serve your needs. When you look a home, your feedback is important to us. Without it we can’t know what you are thinking or feeling.
Working with buyers and knowing how to listen carefully isanother skill that we develop everyday at Roy Wheeler. Contact a Roy Wheeler agent today to let us help you too.
First Time Home Buyers
Are you getting ready to buy your first home? It is important to know how much you can afford before you begin looking at properties. Talking with a lender and getting pre-approved for a loan puts you in a stronger negotiating position with sellers.
As a rule, your monthly housing costs should not exceed 28% of your monthly pre-tax income. These costs include the mortgage payment, real estate taxes, and insurance. If you have long-term debts, such as student loans or car payments, your monthly payments, including your housing costs, should be less than 36% of your pre-tax monthly income. Some loans, such as VA and FHA loans, are more flexible with these basic guidelines.
Depending on which type of mortgage you select, you can consider houses in various price ranges. Your Roy Wheeler real estate agent can help you make the basic calculations. Call toll-free 1-877-560-2858 (ext 158) to talk to an agent today.
A money saving tip!
Did you know that by paying as little as $25 more than your required mortgage payment, you can save thousands of dollars of interest over the course of your loan. In fact, by paying $50 more a month, the savings can be as much as $40,000 and will allow your 30 year mortgage to be reduced to 27. Check with your lender to get actual figures as it relates to your loan.
Charlottesville Housing Opportunities
The real estate market continues to transition from a sellers market (where there weren’t enough homes to meet the needs of buyers) to a buyers market (where now there are more homes than there are buyers). Most of what you read is doom and gloom and yes, there are instances where folks are being negatively impacted.
Nevertheless, there are positive things coming from this market as well. 1) Buyers now have the time to make an educated decision on their purchase rather than being forced to make a split second decision along with waiving the important home inspection. 2) Prices have come down and interest rates have stabilizedso buyers now have the opportunity to purchase a home that was out of their price range a year ago. So if you are buying or selling, don’t believe everything you read in the media. Instead, contact a Realtor you trust, who will listen to what you are trying to accomplish and give you the facts you need to make an educated real estate decision
IN EVERYONE’S BEST INTEREST
A home inspection conducted on behalf of the buyer prior to closing once may have been considered to be potentially problematic. Over time, however, a professional home inspection has come to be regarded as a vehicle for avoiding complications. This enlightened attitude stems from the fact that both buyers and sellers are well served by having all the available facts on hand before entering into serious negotiations.
With this in mind, the savvy seller may offer a comprehensive home inspection by a reputable and independent contractor as a sales tool. If trust is the cornerstone of a solid deal, sellers have every reason to preemptively offer prospective buyers the findings of a professional home inspection. If you are selling, be aware that our area is fast becoming a buyer's market. Make all needed repairs unless you want your house to be regarded as a fixer-upper. Anything that's obviously broken gives potential buyers a reason to offer you a lower price.
Listing your home with ROY WHEELER REALTY CO. gives you the advantage of having a team of experts apply themselves to the task of finding you a qualified buyer as quickly as possible. Since 1927 we have served the real estate needs of the Central Virginia community.
Home Inspections in Charlottesville
I cannot impress on you enoughthe importance of a home inspection for the buyer and seller. The market has changed in the Charlottesville area allowing buyers and sellers the time to have a home inspection which will save everyone time and money while making the transaction go much smootherand with less angst.
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Charlottesville, VA 22903
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