Keep on top with latest and exclusive updates from our blog on the Los Angeles real estate world. Cindy Bennett Real Estate posts about tips and trends for buyers, sellers, and investors every week. Whether it be about staging your property or a snapshot of the market, this is your one stop shop.
"Is it the right time to buy a house?" As your friendly neighborhood real estate professional, I'm going to tell you, as with so many things, the answer is, it depends. What does it depend on? It depends on, obviously, your financial situation. Do you want to buy a house? Do you need to buy a house? Have you expanded/grown your family, or are you now an empty nester and you've just got too much house? Maybe you want to finally get that country house and have a huge garden and some chickens. Whatever it is, a lot of that 'is it a great time' question is answered with your actual feelings and idea of where you want your life to be. If we're looking only at the market, one of my opinions that I hold pretty strongly is that I think we have so much information out there now that's easily accessible, that sometimes we get all up in our head about the finances of buying and looking at our primary residence really as an investment, more so than it perhaps should be. Ultimately, you want to live somewhere that you're happy, that you feel safe, and that you can live the life that you want to live. Whether that's having a big garden or having no yard to mow. Think about the reasons that you might want to buy. Think about your finances. Talk to a local lender, who understands the prices and the market in your area, and contact a reputable, experienced realtor (me hopefully!) who can help you figure out and determine if it is a good time for you because what may be a great time for one person is often not a great time for someone else. I'm never going to make anyone buy a house if I even could, but if it's not a good time for you, I'm always going to tell you it's not. So if you're in the Richmond and surrounding area, I'd love to talk to you about whether it's a good time for you to buy. If you're looking in another market and you don't know a great real estate professional, I know lots and lots all across the country, so just reach out to me. I'd love to chat and see if it's a great time for you to buy.
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The Richmond Metro housing market in September 2024 presented a mixed picture, with some segments showing strength while others hinted at possible easing. Single-family homes continued to be in high demand, driving price growth. New listings were up slightly (2.3% year-over-year), while pending sales increased significantly (15.2%). Closed sales dipped just slightly (1.2%). This suggests a slight cooling in the rapid pace of sales seen previously. The median sales price jumped 8.1% to $425,000, and the average sales price increased 8% to $483,405. Homes also took a little longer to sell, with days on market increasing 25% to 25 days (on average.) The condo/townhome market showed more signs of shifting towards a more balanced market. New listings surged 12.2%, and pending sales were up 21% year-over-year. However, closed sales dropped dramatically (20.1%), and inventory levels increased (up 14.7% from September 2023). Months of supply also rose from 1.9 to 2.1 months. Prices, however, continued to climb, with the median sales price rising 9.5% to $387,000 and the average sales price increasing 14.8% to $406,064. Overall, the Richmond Metro market remains strong, but things have cooled just a bit in past couple of months. Anecdotally, we've definitely seen an uptick in price reductions across the market. As I've been tracking this for the past 6-8 months, we went from pretty consistently 250 or so reductions per week, until around 3 months ago when that number increased to around 350. So, when you see the data that most homes are still selling for around 100% of their asking price, that's true, but it does not factor in the price reductions that the listing may have seen. While I would by no means say our market has cooled, and I certainly wouldn't call it a "buyers' market," we are definitely seeing a less frenetic pace of sales, and overall, fewer offers on listings. More inventory (or at least a little more) and as a result, less competition. So, if you're thinking of buying and you've been on the fence about jumping into the market, it's a good time. If you're selling? Well, it's still a good time, but if you're wanting an offer of way over asking, with no inspection, and no appraisal, you may find yourself disappointed if you're starting at an "early summer" price. Price it more reasonably, and make sure you're showing off all the best features of your home, and you'll be much, much happier with the outcome. Do you have questions on your home, your neighborhood, or area? Reach out to me. I'd love to help you determine if it's a good time to make a move, and help you get where you want to be! Click HERE to look at all the numbers used to make up this assessment.
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Hi there! - As we head into the cooler months, there are always lots of things to get done before the weather changes. Check out the October maintenance list and tick some of those items off! Over the past few days, I've been thinking a lot about the folks in Western North Carolina who've been so severely impacted by Hurricane Helene. If you don't know, my son is a student at Appalachian State University in Boone. While he and his house are thankfully fine, so many in that area are not. Check below for a couple of links to great places to donate if you feel called to do so, but this is also a great reminder (to me, at least) to be a bit more prepared for the unexpected. So, here's a nudge to have some water on hand, some backup power sources or generators, and some cash tucked away just in case. Today we're talking about: ✔️ 📅 What is Happening around RVA in October ✔️ 🛠️ October Home Maintenance ✔️ 🍪 Brown Butter Halloween Candy Cookies 📅 What's Happening around RVA in October Now that it is officially fall, there are a bunch of events coming up for the cozy season. Check out some of this month's events around RVA HERE. In case you missed it, I sent out my fall guide a few weeks ago. For a more complete list of events this month and next, click HERE to get my guide. 🛠️ October Home Maintenance Get your home ready for fall with our October Home Maintenance Checklist! From checking your dyer vents to clearing gutters, these essential tasks will keep your property in top shape as the cooler months roll in. Check out the full list to stay ahead of seasonal upkeep! For the full list of October Maintenance Tips, click HERE. 🍪 Brown Butter Halloween Candy Cookies Okay, these just may be my favorite cookies- in fact, they are now my go to chocolate chip cookie (just sub chips for the candy, obviously). If you have leftover candy (or just too much) this is a great way to use it! They are that perfect crispy, chewy, buttery, with that slight salty sweet vibe. So good. This recipe is not mine, but from Baked by Melissa. Give her a follow if you don't already know her. Click HERE for the recipe. PLACES TO DONATE IF YOU LIKE Samaritan's Purse (Actually based in Boone) World Central Kitchen (Currently feeding people in the Asheville area) Red Cross (Helping everywhere) App State Disaster Recovery Relief Fund Do you have home questions, need contractor referrals, or are you (or someone you know) thinking of buying or selling a home in the Richmond area? Reach out! I'd love to help. In the meantime, follow me on social! Instagram | Facebook | TikTok ............. Did you miss last month's newsletter? Click HERE to see what you missed!
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So, I've learned not to buy my candy well before Halloween (and it took me WAY too long to learn that!) but sometimes, I do have leftovers. Rather than keep those for myself, I make these cookies, then give them away! These are the cookie that I've always wanted- that salty sweet and buttery taste from the brown butter and the sea salt, the variety of the candy- crispy, chewy, delicious. They are great just with chocolate chips, or with really any ad ins you have! Enjoy. Baked By Melissa's Brown Butter Halloween Candy Cookies Ingredients 1 cup (2 sticks) unsalted butter 3/4 cup granulated sugar 3/4 cup brown sugar, packed 2 teaspoons vanilla extract or paste 2 large eggs 2 1/4 cups all-purpose flour 1 teaspoon baking soda 1 teaspoon salt About 2 cups of various Halloween candy, cut into small pieces if necessary (M&Ms, Milky Way, Reeses, Snickers, etc! You can also throw in pretzel pieces for extra crunch/salt) Flaky sea salt, to top How to Make Your Halloween Candy Brown Butter Cookies Directions Preheat the oven to 350°F and line a baking sheet with parchment paper. In a medium saucepan, melt the butter over medium heat and swirl occasionally until brown specks form (about 5-7 minutes). Once these specks appear and it smells slightly nutty, remove from heat and let cool. Don't walk away, it can burn quickly. Combine the butter and sugars in the bowl of a stand mixer and beat on medium-high speed for 3-5 minutes, until light and fluffy. Add the eggs one at a time, mixing between each addition, followed by the vanilla. Mix in the flour, baking soda, and salt, and stir on medium-low until a dough forms. Fold the candy into the dough until just combined (being careful not to overmix). Place the mixing bowl in the fridge to chill for at least 30 minutes or up to 24 hours. Chilling helps the cookies bake more evenly. if you're in a rush you can skip this step, but I highly recommend it- it truly makes a huge difference! Remove the chilled dough from the fridge and let sit for 5-10 minutes so it's pliable. Scoop the dough onto the baking sheet and top each ball with additional candy or chocolate chips. Bake for 12 minutes, until lightly golden. Immediately after you remove the cookies from the oven, swirl a large glass or biscuit cutter around them to get a perfect circle. Top with flaky sea salt and TRY not to eat them all at once!
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Things to Do in RVA this October October 5: Junior League's Touch a Truck Where: Richmond Raceway When: 10 am to 3 pm October 8th & 9th: Armenian Food Festival Where: 834 Pepper Ave, Richmond, VA 23226 When: 11 am to 8 pm October 13th: Party on the Avenues Where: Libbie Ave between Patterson to Guthrie When: 12 - 6 pm October 27th: Lewis Ginter Harvestfest Where: Lewis Ginter Botanical Gardens When: 10 am - 3 pm For more events this fall check out my fall guide HERE.
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Your October Homeowner's Checklist: Clean your dryer vents Seal your outdoor surfaces Feed and seed your lawn Inspect and clean out your gutters Caulk cracks and gaps on the exterior Replace worn weather stripping& thresholds Visit a pumpkin patch or apple orchard Give your front porch a fall makeover Check your carbon monoxide and smoke detectors Start planning and saving for holiday gifts For a printable checklist, click HERE.
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Hi there! - I'm starting a new feature this month, a bit of history, origin stories, and other things you may not know about the Richmond area. I find this stuff fascinating, and a great conversation starter, so I hope you do too! If you like it (or don't!), please let me know. I'd love to hear more of what you want to see here. In the meantime, I hope your September is off to a great start. Fall is almost officially here! Today we're talking about: ✔️ ♥️ What I'm Loving This Month ✔️ 📈 Market Update ✔️ 🔍 Did you Know? ❤️ What I'm Loving This Month Life:Organized. I think I've talked about it before, but I finally did it myself, and wow. No one wants to think about not being here any more, but planning is a necessary part of life, and ignoring it won't make it go away. I finally got to sit down with Mary Davis, of In Good Order and Life:Organized, to go through my “stuff," and wow. I thought I had my ducks in a row, but this was so tremendously helpful. Read more about it HERE (and reach out to me if you'd like a coupon for organizing OR Life:Organized! 📈 Beginning of Fall Market Update As I type this, we're a couple of days from the Federal Reserve FOMC, where they are predicted to cut rates. This will be the first cut since 2020, and it remains to be seen how much they cut. What we do know is this- the difficulties many people have had in purchasing a home in the last few years are firmly rooted in the fundamental economic concepts of supply and demand, and most experts think that while these cuts will make money cheaper to borrow, it's also likely to push more purchasers into the marketplace, increasing competition (demand) for what is still quite a limited supply. For a more detailed breakdown of the local market, check out my blog post HERE. 🔍 Did You Know… You may know that Richmond had the first successful trolley system in the world, but you probably also know it's not still in use, and maybe you wondered whatever happened to those cars that helped the city build out suburbs like Westover Hills, the West End, and Ginter Park. Read HERE for the “what happened…” *This is a NEW section in my newsletter. I'm always fascinated by those weird facts, hidden stories, and “why's” of the Richmond Region. Let me know what you think? Is it a keeper or no? Do you have home questions, need contractor referrals, or are you (or someone you know) thinking of buying or selling a home in the Richmond area? Reach out! I'd love to help. In the meantime, follow me on social! Instagram | Facebook | TikTok ............. Did you miss last month's newsletter? Click HERE to see what you missed!
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Hi there! - The weather is (a very little bit) cooler, kids are back to school, and Pumpkin Spice season has begun! With all of that, the real estate market starts to pick up a bit from what is always a bit of a dog days slow down, and people get “back to business,” whether they're buying, selling, or just making plans. It also means some great events around town and end of summer maintenance, so check those things out below so you're ready for the fall! Today we're talking about: ✔️ 📅 What is Happening around RVA in September ✔️ 🏦 Should You Freeze Your Credit? (Probably) ✔️ 🛠️ September Home Maintenance ✔️ 🫑 Easy Weeknight Stuffed Zucchini and Peppers 📅 What's Happening around RVA in September We're definitely getting into market season, and there are some great ones coming up, but don't miss out on the area's biggest event, The Richmond Folk Festival! Will you be there? Click HERE for a list of things to do around RVA this month. 🏦 Should You Freeze Your Credit? You may or may not have heard, but there was recently a social security breach. In light of this, it is more important than ever to keep an eye on your credit. This is especially important if you are planning on buying a home or making another big purchase soon. You may even want to freeze your credit. Click HERE to read my full blog post on why you might want to. 🛠️ September Home Maintenance As we transition from summer to fall, there are lots of things to do- from packing up pool and vacation gear to making sure your doors and windows are sealed well. Luckily here in RVA we still have plenty of warm weather left to enjoy outside. For the full list of September Maintenance Tips, click HERE. 🫑 Easy Weeknight Stuffed Zucchini and Peppers This is a super easy weeknight meal that really can be great on its own, with crusty bread, rice, or of course, pasta. It is a bit of a variation on a Giada recipe from years ago. Adding the zucchini into the turkey keeps it from being dry, so don't skip that step. This one is easy to make ahead and just put in the oven when you're ready! Click HERE for the full recipe. Do you have home questions, need contractor referrals, or are you (or someone you know) thinking of buying or selling a home in the Richmond area? Reach out! I'd love to help. In the meantime, follow me on social! Instagram | Facebook | TikTok ............. Did you miss last month's newsletter? Click HERE to see what you missed!
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Welcome! If this is your first time here, I'm starting a new series for my newsletter and blog talking about some of the things you may not know about the Richmond area. Born and raised here myself, I have plenty of stories, but my dad had even more, and I always loved to hear them, and have him point things out while we were driving around town. Obviously, Richmond is filled with history- much of it complicated to say the least, but good or bad, it's always interesting, to me at least. Hopefully you'll find some of these things interesting too! Please let me know if you do (or if you don't) and if you have any questions or stories to share, please message me! So without further ado, here's the first installment! The Richmond Union Passenger Railway, and Where It Went You may or may not know that Richmond, Virginia had the first (in the world) electric trolley system. While many places had tried to create a working system, no one was able to actually make it work. That is, until the powers that be in Richmond heard about Edison's colleague Frank Sprague and his experiments with electric transit in New York and invited him to Richmond to build one here. He and his team actually did the thing, and making it up as they went along, came up with a system of four wheeled cars attached to an overhead electric line and 12 miles of track, and the Richmond Union Passenger Railway was officially put into operation on February 2, 1888. Eventually, the system grew to 82 miles of track, and enabled much of the expansion of the city and its population. People were able to move further out, and they were still be able to come into the city without having to spend the day walking. This led to the development of Richmond's first suburbs, or "street car neighborhoods." These were Ginter Park, Bellevue, Barton Heights, Highland Park, Laburnum Park, Sherwood Park, the West End, and Forest Hill. The birth of our electric rail system also led to the development of 110 others across the country and the world. Pretty cool, huh? By 1949, though, cars were becoming more prevalent, and General Motors introduced buses to be used for public transit, and the cars fell by the wayside to make way for more gas powered vehicles. (Lots of thoughts, and even a court case, were based on the idea that GM and other auto makers conspired to get rid of the streetcars and make way for more of their own vehicles.) The writing was on the wall, and in December 15, 1949, trolley No 408 made its last run, followed by nine others, and hundreds of onlookers. Somewhat perplexingly, No. 408, along with 50 other cars, were not just decommissioned, but burned to nothing in the "Great Car Burning of 1949." Very few cars, or even parts of cars, exist. Our street car system may be long gone, but we have it to thank for some of our most beautiful streets, particularly in the North Side of Richmond. They were specifically designed to allow for carriages, pedestrians, and those trolleys, with wide roads, sidewalks and lined with beautiful trees.
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As we enter into the fall season, things are picking up again from the slightly more sluggish market of August. (And is there a better word for just about anything in August than "sluggish?") Almost every year, we see a bit of a dip in August, and a pick up after Labor Day, after vacations are over, kids are back to school, and people are a little more "back to business." Over the past few years, this cycle is a little less reliable as things have been in a nearly nonstop upward trajectory. In August, the month's supply of homes for sale stayed the same as it was in July, at just under 2 months, and it's the highest it's been since October of '23. Now, we're still not near a balanced market (that's closer to 6 months of inventory), but it's definitely better than it has been. Overwhelmingly, we're still seeing homes that are "done" are selling quickly, and we're still seeing plenty of homes sell for over asking price. The homes that are not "done," or are not priced accordingly, are sitting for much longer than they would have six months ago. Numbers are great, but easy to find and harder to unpack. Anecdotally, I've been tracking price reductions in our market since the beginning of the summer. What had been a pretty consistent 250 reductions per week at the beginning of the summer has been steadily creeping up, sticking at around 350 for weeks, and now tipping into the low 400's. Is that a terrible indicator? No. More likely it's a cooling of the crazy market that we've been in, where everyone wants to price higher than the last one, and not every home, nor every location, warrants that type or jet fueled appreciation. Additionally, when working with buyers, I've seen they have a bit more variety, and given that money has been and continues to be more expensive to borrow, they're a little more choosy about where they spend it on, meaning pricing is more important than it was even 5 or 6 months ago. As always, if you have questions about YOUR neighborhood, area, or home, or where you want to live, please reach out. I'm happy to break down the data that's specific to your situation.
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