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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.

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Richmond Area Market Report for Summer of 24 (As of July)

The idea of the slow slow slow market of summer has changed over the past few years. Those cycles we could always count on like clockwork had already changed a bit, but the pandemic really wiped them off the map. That means that even though July is historically slow, now it's definitely less so, and there are fewer extreme peaks and dips seasonally. Soooo… that being said, here's what's going on in Metro Richmond real estate this summer. Despite the fact that rates have been bouncing around 7% for months (!), we're still seeing lots of sales and lots of activity. You may have heard me say that a balanced market is when we have 6 months of inventory, and it's been a while since we've been there. As of June, we are at 1.6 months. With the exception of a few months last fall, this is the most inventory we've had since before the pandemic- that's good news, especially if you're buying. More inventory means more choice, and less demand. In many cases, we're still seeing multiple offer situations, but generally that is on homes that are “DONE." (That means there are opportunities out there for buyers who don't have to have that perfect, brand new renovation!) What else does it mean? That if you're selling, the closer you can get your home to DONE, the more money you're likely to net, and that's good too. On average, we are still seeing homes selling in the Metro Richmond area for 100% of the list price, with no noticeable average deviation. That is based on the data available from our MLS. Anecdotally, though, I think those numbers are slightly skewed because I'm seeing many more price reductions (on average, our MLS is showing around 300 reductions per week for the whole of the summer so far.) That means that while the home may sell for 100% of the list price, it doesn't mean that it sold for 100% of the *original* list price. Again, those homes that are "show ready" are the ones that are selling for those higher prices. Want more customized information to your neighborhood, home, or where you want to call home? Let me know, and I can give you a personalized market report with projections.

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How Do You Know What Your Home is Really Worth?

Are you wondering how much your home is worth in the current market? Maybe you want to sell or maybe you need the value for something else (refinancing, divorce, etc). Whatever your situation, don't rely on those online calculators/estimators like Zillow, and the dozens of others out there. There are so many you could probably get 10 different values for your home in 10 minutes. The problem is that they can be 10%-30% off depending on the type of home you have, where it is, the comparables around you, and so much more. If you are thinking of selling, the best way to get an accurate value is to talk to an agent in your area. Of course, if you're in the metro Richmond area, I would love to help you. Remember, Zillow doesn't have any idea if you've renovated your kitchen six months ago. So whether your house is better or worse than the neighbor's homes around it, or the comparables that have sold around it, you want to make sure that the information on your particular home is accurate, and you don't accidentally overprice (or underprice) it when you go to market. If you're looking at another type of situation, where you're not going to sell your home, I would recommend getting a valuation from a licensed appraiser. They're going to give you a more official document that is going to fly in court or a divorce case. If you're looking to refinance, the lender is going to make you get an appraisal and that's going to be what they're going to base their information on. So there are a few different reasons why you might want to know the value of your home, but if you seriously want to know the value, don't rely on these online estimators because they are often incorrect. If you're in the Richmond metro area, give me a call or send me a message. I'd love to help. I'll come take a look at your house, and give you an idea of where it stands in the current market. If you're in another area and you need a licensed agent there that's going to do the same, let me know. I'm happy to put you in touch with somebody. I have connections all over the country.

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How to Choose the Right Realtor for You?

Did you know that out of all of the agents that are out there licensed, 49% of them have sold one home or none? That's kind of crazy to think about. So if you're thinking about buying or selling a home, and you're thinking about who you want to help you in this process, here are some tips on hiring a realtor. It would be really easy for me to say, if you're there in the metro Richmond area call me, done. But maybe you're in another market. Maybe you want to buy a home in another state. Maybe you live in this area, and you want to move to Oklahoma or somewhere else. What are the things that you want to look for when you're hiring an agent? Number one, see what they've done and what their experience is (which isn't necessarily that they are the top producer, standing in the ad in the magazine saying I've sold over 150 homes this year). Usually those people aren't doing that all themselves and there's a bandwidth situation where you're probably not going to get the attention that you need if an individual is selling 150 homes in a year. Another thing to consider is what you want to look at is communication. How do you want to be communicated with? How do you want to communicate with your agent? How accessible do you want/need them to be? So on and so forth. So make sure that you have somebody that you feel comfortable with and can communicate well with. So if they love texting, and you are a phone call kind of person, make sure that you're on the same page, and that you're going to be able to communicate well with that person throughout the whole process. Buying a home or selling a home can be a very emotional, and very complex, logistically, sort of experience. So you want to make sure you have good open lines of communication. Looking at other things that might be important to you. In an ideal world, how do you build out that perfect agent? Make a list of questions to ask them, like, how many houses have you sold, that are getting multiple offers? How do you handle those multiple offer situations? When you're hiring an agent, picture yourself as really hiring somebody who's going to help you and be on your team. So make sure that the things that are important to you are the questions that you're asking them so that you end up having a great experience. Not to say new or old or whatever the agent's experience is, everybody has a different case and a different scenario that will look perfect for them but don't just hit the first agent you trip over. Because this is an emotional and complex experience, you want to make sure that you have the best one. So if you're looking to buy in the Richmond metro area, I would love to help. Reach out to me and if you want to buy somewhere else, I have great connections with agents all over the country and I'd love to put you in touch with somebody who can get you where you want to be.

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Volume 1: July 2024 Newsletter

I hope this finds you keeping cool and enjoying the summer! I’m freshly back from an amazing (seriously ah-may-zing!) trip to Kenya (if you noticed the absence of a June newsletter, that’s why!) and that’s likely all the travel I’ll see this summer, but it was SO worth it. From the magnificent animals and countryside, to the wonderful people and culture, I’ll be thinking about it for the rest of the summer and beyond for sure. If you’re staying around Richmond this summer, check out my RVA Summer Bucket List and see what may be new to you and your family! I bet you can find something that you’ve never done before… Today we're talking about: ✔️ 📅 Summer's Here, and so is my RVA Summer Bucket List (what's on your list?) ✔️ 🍅 Summer without Gazpacho? Wouldn't hear of it. ✔️ 🛠️ July Home Maintenance (Check that security if you're traveling) 🌞 My RVA (and surroundings) Summer Bucket List! Summer is officially here, and let's face it- for us “grown-ups” summer can sometimes be just like the same old thing, only hotter. Every season, I try to make myself a list of “must-dos” that remind me of all the wonderful things right here close to home, that are unique to the season. My summer list includes everything from tomato sandwiches to shaved ice from Sno Shack (but I promise they're not all food!) You'll find my list HERE. Go check it out, and see what you'd add. I promise you, you won't regret making one of your own. It really makes each season just a bit more fun! 🍅 It Isn't Summer Without GAZPACHO Speaking of summer, and things that make it feel more fabulous, making a big batch of gazpacho is something I always have on my list. A million years ago, I owned a little cafe/catering spot in Carytown, and I had this on the soup rotation every day from the moment it started getting warm, and we sold through it nearly every day. Cold, refreshing, flavorful, and it's actually healthy? Sign me up! Get the recipe HERE. 🛠️ July Home Maintenance July is definitely the month lots of folks head out of town- river, beach, mountains, or further afield, but before you go, it's a perfect time to give your home a little security check. Assess your window and door locks (everything working?), check or change batteries in cameras or motion detectors, etc! For the full list of July Maintenance Tips, click HERE. 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?

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Your July Homeowner’s Checklist

Your July Homeowners Maintenance Checklist: Clean exterior lights Lighten up linens - opt for crisp white Add shade to the yard - pergola/umbrella Upgrade home security for summer travel Check window screens for holes Stay on top of pool maintenance Buy slipcovers for patio furniture Refurbish a piece of furniture Have an outdoor movie night For a printable checklist, click HERE.

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The Recipe That Makes Summer for Me (Spoiler alert- It’s Gazpacho!)

It's not really summer for me until I make Gazpacho. Is this one "authentic authentic?" No. Is it the one that I started making when I owned my cafe/catering business in Carytown, and I've made it pretty much every summer since. It's light, pretty dang healthy, and seriously addictive. Let me know if you make it! GOURMET DELIGHTS GAZPACHO Serves: 6 Prep time: 20 minutes Start to finish time: 1 hour, 20 minutes 1 whole cucumber seeded (peeled if tough skinned) 1 whole green bell pepper 3 cloves garlic (or to taste) 1/2 yellow onion 16 ounces good quality canned tomatoes 2 Tbs tomato paste 3 Tbs olive oil 2 Tbs red wine vinegar 1 Tbs lemon juice 1 Tbs Worcestershire sauce 1 1/2 tsp salt 1 tsp Tabasco sauce (or to taste) Fresh cracked black pepper to taste 1/12 cups V-8 juice Place first 4 ingredients in the bowl of a food processor. Don't puree but gently pulse. Remove to a large covered bowl or jar. Pulse next 6 ingredients, again gently, leaving tomatoes in small chunks. Add to container with chopped vegetables and shake or stir to blend. Let sit in refrigerator for a few hours or overnight to allow flavors to blend. Enjoy!

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My RVA Summer Bucket List! (What’s on yours??)

Do you make a seasonal bucket list? (Do you even know what I'm talking about?) I can't remember exactly when I started doing it, but I know it was for fall. Basically, I love summer-the lushness, the green, the vibrancy of everything, and I find fall a little depressing. So one year I decided I'd think of all of the things that I love about fall, make a list of them, and focus on those things, rather than being depressed about things turning brown. Now I do them for every season. It gives me something to look forward to, and makes me focus on the things that I truly love, instead of just letting time slip by. So, without further ado, here's my Richmond Bucket List... (What would be on yours? For a printable checklist, click HERE!)

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Should You Sell Your Home As-Is?

"I think I want to sell my house, but I don't feel like doing anything to it. Can I just put a sign in the yard, get it on the market, and be done with this whole thing?" Sometimes when you're a seller, those are the things that come to mind. That's what you really would like to do, right? It's kind of a pain to get your home ready for market. And we're in a seller's market, right? This ought to be easy, your house is pretty nice, just throw a sign in the yard, and let's just get it gone. Before you do that, let's think about the ramifications of putting your home on as is and why you may or may not want to do that. First off, think about the reasons why you might want to put your home on as is. So yeah, that's kind of a pain. But often, people think "I want to go as is", and really, their home doesn't need anything except maybe some paint, some caulk, a little touch-up here and there, it's not that big of a deal. If you don't have time to do some of those things that in a lot of cases can be done by the homeowner, I have a great bunch of resources, handy people and contractors, painters, etc., that can come in and knock those things out in just a couple of days. But let's say it's a financial thing and everything is just a little bit of a bigger deal than the paint, the caulk, and so on. The kitchen is older or whatever. Usually, when you say as is, buyers, especially in this climate of higher interest rates, where buyers are being a little more picky, they're being a little more particular with how they spend their money. When you say as-is people immediately think what's wrong, something's wrong. And it's going to be very expensive for me, and it's going to make them not even come to look at your house. So in most cases, you're going to be better off by just letting it letting it roll. So if you know that you've got some plumbing issues, probably they're going to be, you know, maybe no major, big deal, but it's going to have to be done, you're almost always going to be better off getting someone to do those things before putting your home on the market. Even if you are short on money, and you need to find somebody who's going to let you pay for those things out of the proceeds when you actually sell. But if you do those things ahead of time, then you're going to have a better experience overall. The buyer is going to feel more comfortable purchasing the home and it's going to be a smoother transaction, smoother process, and get it sold faster and usually for more money. So as soon as you say as-is, people immediately think there might be something wrong. But if you just let people have an inspection, remember to disclose if there are actually major issues with your home. If the panel box is sparking, you need to let people know that we are a buyer-beware state, but we do have to disclose material defects or major issues to the home. So if you're aware of them, you have to let people know. And better than letting people know, getting them fixed beforehand. Even if it takes a little bit of money, a little bit of time, a little bit of hassle. Trust me, it'll be worth it in the end. There are certainly cases where selling your home as-is is the way to go. But that's a case-by-case situation. And pricing has a big effect on that too. So if you've just inherited grandma's house, you don't know anything about it. You don't have the time, the bandwidth, the money, the energy to get those things done, as is maybe the way to go, but we're then going to price accordingly. So case by case situation, give me a call, send me a message. Let's set up a time to take a look, talk through it, and see what your options are. If you're in the Richmond metro area, I'd love to help give me a call, and let's get started.

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Volume 2: May 2024 Newsletter

Happy almost officially summer! It's hard for me to believe that we're only days away from Memorial Day, and the real official kick-off of the summer season. CRAZY. The market is still moving quickly, and with inventory still low, we are still seeing many instances of multiple offers out there. The tricky thing? If you're a seller, make sure you're as ready for market as you can be, and price accordingly. Buyers are still bidding up homes, but before they take out their proverbial wallets, they are definitely choosier when it comes to deciding which is “the one." If you're thinking of selling, definitely don't wait to call- identifying and addressing those things that could deter a buyer can sometimes take a little time. I'm always happy to help you figure those things out, and have a large roster of great contractors, etc- so let me know how I can help! Today we're talking about: ✔️ 🛠️ May Home Maintenance Tips! ✔️ 😍 What I am Loving Right Now ✔️ 📈 NAR Settlement Update (Yes, it's constantly news!) 🛠️ May Home Maintenance Tips TIDY YOUR FLOWER AND/OR GARDEN BEDS CHANGE OUT LINENS TO LIGHTER COLORS AND WEIGHT CLEAN GUTTERS TO MAKE FOR BETTER DRAINAGE CLEAN AIR VENTS AND REPLACE FILTER CLEAN INSIDE DRAWERS AND CABINETS ♥️ Right Now I'm Loving… If you know me, you probably know that when I discover something I love, I want to share it. Like, “tell literally everyone about it” share. So here I go. Check them out! And if you do, let me know! ☠️ 🦪 Dining…The Oyster Society in Petersburg- I visited a couple of weeks ago with a group of great women, and wow. I just can’t say enough. Really cool vibes and décor- think “fun, artsy, well traveled aunt,” with loads of taxidermy, antiques, and so much to see. But the food was out of this world, in both presentation and taste. Yes, they have lots of oysters, but so much more. The night we went, they had an amazing vegan dish, a local pork chop, and riff on steak frites, as well as many small plates. Just a complete knockout, and totally worth the drive for something totally different! (The skull and crossbones is their logo, by the way- not a commentary!) 🍋 Shopping… If you’re sick and tired of grocery prices but still want good quality food, check out Misfits Market. I recently signed up and have been really happy with everything I’ve received- from produce, to meat, to chia fruit spread, kombucha, and more. They really have nearly everything, and at great prices- there items are often just not quite pretty enough for grocery stores, or otherwise just “misfits,” and as such, they’re priced accordingly. Win win! You keep perfectly good food out of the landfill, and pay less for it. 💵 Get $10 to check it out by using my referral link HERE! 💵 📈 Update on the NAR Settlement and Upcoming Changes If you pay any attention to real estate news, you have probably seen all the talk about major changes due to the National Association of Realtors ® settlement. There is so much information and viewpoints out there right now it can be hard to really know what is changing and how it really impacts you as the consumer, whether you are buying or selling. I will be doing a whole series on Youtube going into detail what all of it means. Check out the first video HERE. (Take a few seconds while you are over there and subscribe to my channel so you don't miss any updates!)

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Volume 1: May 2024 Newsletter

Well, suddenly, it's May! I'm so ready for the warm weather, the smells of fresh cut grass, ripe strawberries, and tomatoes just starting out. Even if everything in bloom means that I feel like I need to wear a diving helmet to protect against the pollen! Worth it, though! Don't forget to check the home maintenance tips this month- it's a great time to do these things (I'm trying no shoes in the house again!) I'm also giving all my outdoor spaces a little refresh, and prepping the grill for lots of summer use! What are you looking forward to this late spring/pre-summer? Today we're talking about: ✔️ 🛠️ May Home Maintenance Tips! ✔️ 📅 Events Happening in the Richmond Area ✔️ 🍓 My Favorite Summer Dessert- Berry Pavlova! 🛠️ May Home Maintenance Tips DEEP CLEAN FLOORS MAKE A "NO SHOES INDOORS" RULE AND STICK TO IT BUY PLANTS TO USE AS NATURAL DETOXIFIERS REPLACE WATER FILTERS BUY A COTTON SHOWER LINER WIPE DOWN LIGHT BULBS AND LIGHT FIXTURES 📅 Top Things to Do in May May 3rd - Friday Cheers kicks off at Brown’s Island at 6pm! May 4th - Run Wild Race at the Metro Richmond Zoo May 11th - Church Hill Spring Fest and Market May 11th - Richmond Ivy plays the Virginia Marauders at City Stadium May 14th - 6pm-7pm Richmond Toolbox Electrical 101 (Check their schedule for other workshops as well) May 17 - Lebanese Food Festival- St Anthony’s Maronite Church May 17th-19th - Dominion Energy Riverrock May 23 - Fidos after 5 (Dogs in the Garden) May 30th - June 1st - Richmond Greek Festival 🍓 My Favorite Summer Dessert- Berry Pavlova! If you don't know, a Pavlova is basically a giant meringue, with all of its crispy, crunchy, marshmallowy textures, piled with whipped cream and topped with berries, or whatever fruit you love! What is lighter, fresher, and better for summertime than this? (Okay, ice cream is maybe a tie, but this is more of a wow for sure.) Click HERE for the full recipe, and if you make it, let me know what you think!

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