Selecting the Right Real Estate Agent!

Here, at The Cabell Childress Group, we know that choosing a real estate agent can be overwhelming. Through sound knowledge, interaction and experience we have become an agency that is vested in both our clients and our community. Here are a few things to look for in a great real estate agent and what you can most certainly find in the agents here, at Cabell Childress Group!

the cabell childress group
1. Experience – Choose an agent that is proven (whether buying or selling a home) to be highly experienced in handling large transactions. This will put you at ease during the process.
2. Market knowledge – Here, at The Cabell Childress Group, we enjoy the knowledge we have been able to gain working in our community. Knowing the ins and outs of the neighborhoods and being educated on current statistics puts us in a knowledgeable position to speak honestly about our market.
3. Great references – Whether it be through past testimonials or word of mouth, be sure to see what others are saying about your agent. Being recognized for service or having well established partnerships can help to reassure you that your agent is reliable.
We pride ourselves on being thorough, well equipped and knowledgeable in our field. At The Cabell Childress Group, our clients are more to us than numbers. By fostering communication, quality experiences and positive relationships with our home buyers and sellers, we have become a great agency. Call us today for your real estate needs.

To Buy A Foreclosure or Not To Buy A Foreclosure?

Foreclosures blog - Cabell ChildressBuying a foreclosure can be risky. Though homebuyers may be able to get deals on them, it may not always be the right move for you. It is very detrimental that you understand the benefits and the perils of purchasing a foreclosure before making your decision. While homes in pre-foreclosure can be available to purchase from the homeowners themselves, a foreclosure can be purchased at an auction or as part of bank owned property from lenders. So here are a few pros and cons of purchasing a foreclosure:

Pros:

  1. Home owner discounts – since homeowners may be swift to sell, you may be able to purchase a home for lower than its market value.
  2. Bank discounts – The longer a bank holds property the more it can cost them in tax, maintenance and more. You are likely to catch a foreclosure at a discounted rate through the bank as well.
  3. Few repairs – Many foreclosures can be found in good condition in need of only minor repairs and upgrading.
  4. Appreciation – With a discounted price and fewer repairs, homeowners can see appreciation in property value after a very short time.

Cons:

  1. Competition – With discounted rates you may have to fight a hefty battle with the competition to acquire a foreclosure.
  2. Paying up front– Some foreclosures will only allow you to pay cash same day with no time for an inspection. Weigh your options before diving in.
  3. Larger repairs – Some foreclosures may surprisingly need more repairs than you’ve bargained for. Many foreclosures become space for looters and thieves, depending on area and vulnerability.
  4. Time consuming – Some foreclosures may take time. Especially if tenants are still engaged in the property.

 

If you are looking into foreclosures and want to have the right team of professionals assist you in your search, feel free to contact Cabell Childress Group of Richmond, VA today!

Fall In Love The Right Way!

Saying yes to the first home you view is kind of like saying “I Do” on a first date. It is often said that “home is where the heart is”, and if this holds true, why not live in a space you absolutely love. We’ve previously mentioned how to avoid mistakes as a first-time home buyer, but what about seasoned shoppers? Here are a few reasons you may want to go on a “first date” with more than one home.Cabell Childress Blog Richmond VA

  1. Resale value – Learn more about the resale value of each home so that you are able to compare the pros and cons. It is wise to choose the home with the best rates so you won’t have problems with selling, if you ever decide to move on.
  2. Loveable features – If you’ve been set on certain features, you don’t have to settle, but be sure not to select the first space that offers all of your features. There may be several other listings with better asking prices who offer the same features. Don’t be fooled by a great face – ensure all your home needs are met, that you are remaining reasonable and sticking to your budget.
  3. Have options – Avoid buyer’s remorse by looking at several homes and carefully scouting different areas in your selected neighborhood. It may be even better to check out options in close surrounding neighborhoods. If you are still drawn to your first choice, at least you have shopped around and can be satisfied with your final decision.
  4. Don’t overlook a treasure – Small cosmetic fixes, like wall paper or paint color, may turn you off instantly. Be sure to imagine a space with your desired facelifts and updates. Catch the home of your dreams!

Home buying should be a dream come true, not a nightmare, so be sure to fall in love with your new home for all the right reasons. Here, at the Cabell Childress Group, our professionals are ready and willing to help you search for a home that is just right for you. Call us today at (804)346-4411.

First Home Buyers – Avoiding Mistakes

First time home buyers are often anxious and overwhelmed. It is easy for a first time home buyer to instantly disapprove or fall in love with a home at face value. Stuck in the moment, many first time home buyers tend to make mistakes. Here are some key factors to help you avoid those easy mistakes:Cabell Childress Home Buying Tips - Richmond, VA

  1. Cost – Many first time home buyers regret overpaying for a home. When considering your first home evaluate the overall cost, an affordable down payment, closing cost and maintenance. Be sure to shop around for mortgages and negotiate pricings for maximum savings.
  2. Neighborhood – Evaluate the neighborhood thoroughly. Though many of us enjoy the convenience of local markets, shopping, etc., think about how highly populated areas can play a part in parking, street traffic and noise/activity levels. Many people like these busy areas, but if you do not, make sure you do your homework.
  3. Size – Remember this is your fist home. Unless you plan on staying here forever, you may need to think about how quickly you wish to expand your family and how soon you will outgrow the space. Think about layout, cabinet space, storage and things that will matter over time. Though the first glimpse of a potential home may entice you, it pays to consider things like size and layout.
  4. Yard – Ideal yard size is ultimately a matter of opinion; just make sure you are able to commit to the manual up-keep and costs of a large lot, if that is something you would like. Consider a realistic yard for what you will be doing with the space, whether it be gardening, playing with pets or setting up a grill!

Whatever you do as a first time home buyer, be sure to take your time. Consider your future and how your first home can fit into the journey. Take time to think about pricing, size and all other factors that can change as you grow. Here, at the Cabell Childress Group, we believe in making wise and accurate choices. If you are looking to buy your first home, be sure to contact our Richmond, VA realtors for a great start on your new home purchase.

New Year’s Resolutions to Sell Fast!

With the New Year approaching it is the time where we redefine goals, analyze progress and look to create resolutions! If your home has been sitting on the market for some time or you simply want to add a boost to your selling potential; try to set resolutions that are effective and often overlooked. If you have already applied some tips from our previous post here are a few that will give you a boost towards 2015:newyearhome

• Depersonalize: Though it may feel odd, taking away personal belongings may be just the right touch to help you sell your home. Remove personal portraits, heirlooms and knickknacks. Allowing buyers to see their own family as a potential resident will add a sense of comfort when entering the home. Remember, you are selling a home and not your personal belongings.

• Amplify Appeal: If you’ve already took the step to increase curb appeal try making more winter moves. Remove snow, clear off gutters and outdoor systems and even revamp your address numbering or mailbox. Make sure your home is well lit and fully prepared for show at all times. Instant appeal means a lot to potential buyers and shows them how much you care for the property you are selling even in the winter.

• Don’t over-do it! All potential buyers love great perks like new appliances. Try to focus also on small details that are functional and need attention such as cabinet knobs, door handles and off track door frames. There’s no use in breaking the bank for huge upgrades if the basics aren’t fully intact. Save some huge bucks and tackle smaller (more important) projects.

• Create A Plan: Here at the Cabell Childress Group, our ALL INCLUSIVE MARKETING (AIM) plan has been optimized over time and has also assisted our team in achieving Top Team status for many years. The AIM plan will help focus on home sale readiness, comprehensive advertising and communications, tactical pricing and Geo-visibility for quick selling.

Going into the New Year, we hope you are excited and ready to maximize your home selling potential. Try to create your own or implement these simple resolutions and you will be well on your way to selling your home.  Wishing you a Happy Holiday and a Happy New Year from the Cabell Childress Group of Richmond, VA!

Want to Buy A House? Tips on Saving this Holiday Season

Want to buy a house?

Home buying during the holiday season offers a huge amount of benefit. Which is why saving and searching for the perfect home this time of year is extremely important. With many things on your gift list, purchasing a home can be one of the most rewarding gifts of all. Saving in all the right ways will keep the stress of the holidays at bay so that purchasing a home can be easily fulfilling and exciting.

The magic number, 1.5%, is the recommended budget you should set aside in your household for holiday gifting expenses. Be firm and active in implementing this budget with your spouse, children, friends, and family so that you are not overspending. Creating a gifting budget will allow for you to combat impulse buying and create a plan that can help towards savings funds and/or a down payment for your new home purchase.

Seize the competition. During the winter while everyone is occupied with stuffed turkeys and stocking stuffers you can be ready to face less competition. This means fewer counter-offers to compete with, fewer bidding wars and ultimately a better deal for you. Without as many buyers scoping and gazing at your new potential new home, you stand a better chance of keeping savings close. This is also a great time to avoid the price rise related to several buyers interested in the same property.

What’s with interest? The decrease in home buying during the holiday season also means that lenders experience significantly fewer requests for mortgage money during the time. This is great news for you! Research shows that interest rates drop every December through January on a recurring basis. Many lenders go the distance to offer you a low interest rate or even cancel some fees just to secure your business. Shop around for the best rate and get pre-qualified so that you capture a deal with your mortgage broker or lender right before the end of the year.

Tax returns? Buying and closing on a house just before the New Year may give you a well appreciated tax deduction. You stand a very good chance of being able to deduct the interest component of your initial mortgage payment from that year’s taxable income. It is wise to speak with a good quality tax advisor to see how a mortgage interest deduction can apply to you.

Take advantage of the holiday spirit and use one or all of these tips to save towards your new home purchase. Happy hunting and happy holidays from Cabell Childress Group of Richmond, Virginia!

Staging Tips to Sell Your Home Fast

staging_tipsWhen putting a home on the market, many sellers’ worst fear is that their home will be on the market for much longer than they ever anticipated. Once a home has been on the market for a long time, buyers start view it in a negative way and may question if it has a hidden problem. You also run the risk of vandalism, or potentially losing on the investment.

So what can you do to help sell your home faster? Set the stage. Staging a home is a proven way to sell homes quicker and leave better impressions on potential buyers. When staging a home you want to highlight your home’s strengths and downplay its weakness. Here are a few tips to consider when staging your home.

Tip 1. Understand your Audience. It’s important to understand what potential buyers are looking for and how to appeal to them. Choose a clean, contemporary style – your personal style may not be what people are looking for.

Tip 2. Clear the Clutter. The biggest contributor to clutter is usually too much furniture. By removing extra furniture and decorations, sellers can make their homes look more spacious and open. Keep it simple and elegant. You want potential buyers to imagine what they could do with the space.

Tip 3. Boost your Curb Appeal. Many potential buyers do judge a book by its cover. A beautifully manicured lawn, a welcoming porch and a hint of color draw in more buyers. Plant lush greens and aromatic flowers such as lavender and jasmine, to add extra charm to your yard.

Tip 4. Lighting. Don’t underestimate the power of good lighting. The proper lighting can enhance not only the décor but can add some much needed warmth to your home. Bring more lighting to your home and add variety, such as ambient, task and accent lighting.

For more tips on staging your home or to learn more about what to expect when selling your home, contact the professionals at Cabell Childress in Richmond VA and have a happy home-selling experience.   

What should I expect from a Home Inspection?

home_inspectionA home inspection is an examination that is performed before the sale of a home by a certified inspector. The inspector will give a written report on his/her findings, and will give further recommendations on any noticeable repairs. Knowledge gained from a home inspection helps buyers make informed decisions and give them an opportunity to take care of any problems found. A home inspection is one of the most important steps you can take to make sure your new home is a sound investment and a safe place to live.

Many people don’t fully understand what happens in a home inspection or what they need to do to get the most out of it. For instance, did you know there are actually several different types of inspections that are performed in a home inspection? The most common of which are; pre-delivery inspection, structural inspection, plumbing inspection and heating, ventilation, and air conditioning (HVAC) inspection.

What can you expect from a home inspection? To answer this question, let’s explore the different types of inspections that are available. First, the pre-delivery inspection, you can expect this to take about a week to preformed, this inspection gives buyers the first glance into their new home. The inspection ensures that all the terms of the contract are met, the home is substantially completed and that major items are in working order. The structural inspection involves looking at the foundation and supporting elements of the property. This inspection will include a report of any distress that many need repaired, and structural evaluation recommendations. The plumbing inspection involves visual observation and general operation of the plumbing system. The inspection will note any major or minor defects and if the system is operational. Lastly, heating ventilation and air conditioning (HVAC) inspection is similar to the plumbing inspection but it will look at the heating and cooling systems; noting any defects, safety concerns, and if it’s operational.

Choosing the right inspector is also very important when getting a home inspection, chose a certified inspector and keep in mind the terms of the contract. To get the most out of your home inspection, it’s best to be there when the inspection is being performed and compile a list of questions you may have. Your realtor can help guide you through the process, give you advice on questions to ask and offer a reputable recommendation.

Is It Better To Buy a Short Sale or Wait for the Foreclosure to Happen?

short sale or forclosure: what is right for you?According to research done by CNN, Richmond, Va. was ranked #4 in the 10 hottest housing markets for 2014. The median home price in this booming state capital is $220,600; with an estimated growth of 8.5% in the next 12 months. This major metropolitan area is certainly hot, but not everyone is excited to see the increase in home prices. The Richmond real estate market is leaning towards a sellers’ market. This means that there are more buyers than active listings; this shortage of inventory is what drives prices up. Buyers are paying more for the same house now than this time last year. If you’re looking for a more affordable option; short sales and foreclosures offer a solution. Short Sales offer a great opportunity to buy a home for less than the valued price but keep in mind that while the sales price may be lower, there may also be repairs and/or updates needed to make the home “move-in” ready. Many foreclosures and short sales have fallen victim to disrepair and some have been sitting vacant for some time, adding to the cost to cure. A good contractor and REALTOR can help you with an estimate to determine if you are really getting a deal, or pricing yourself out of the neighborhood after renovations.

First things first–what is the difference between a short sale and foreclosure? A short sale is an alternative to a foreclosure. It occurs when the buyer and lender agrees to sell for less than what is owed on the mortgage if the seller can provide proof of hardship, in order to not default on the loan or loans, depending on if the seller has a second mortgage or open line of credit. The definition of a foreclosure is when a homeowner has already defaulted on the mortgage agreement, and the lender has taken possession of the home.

Short sales and foreclosures can be a great alternative for the savvy home buyer, but you might be wondering which option is your best deal or which takes the least amount of time? It is true that the process of buying a short sale or a foreclosure differs from traditional home sales; the process can be longer with a few more hoops to jump through. Foreclosures are generally faster, as they are ready to sell but are not always a better value than short sales. Time and value varies for each but your best bet is to hire a knowledgeable realtor to find you the best deal in the area you are interested in living near or investing in.

What are pre-approved short sales? A pre-approved short sale is when the lender has determined an acceptable sale price based on current data on the loan and their idea of market value on the property. Although, a pre-approved short sale does not guarantee approval of a short sale. The process can still take a good amount of time to close and market value can change overtime. The most important part of buying either a short sale or a foreclosure is finding good representation to not only get you a good price and good home, but a good agent will help make the process less complicated and less stressful. For the best advice on short sales, foreclosures and all of your real estate needs, contact the Cabell Childress Group, today!