One of the questions that I get asked all the time in every season, at a party by clients, whatever, "Are we in a buyers market or seller's market?". If you look at real estate news across the country that answer varies greatly from location to location, region to region, but here in central Virginia in the Richmond metro area, we are still in a seller's market. Now, what does that mean? That means that a balanced market is basically six months' worth of inventory. That means that if we had no more homes come on the market, that we would have six months to sell through all of the inventory that's currently on the market. So if a balanced market where it's not preferring or leaning towards buyers not leaning towards sellers, a balanced market is six months' worth of inventory. We are currently still, here in January of 2024, with less than two months of inventory. If we had no more homes come on the market with the buyers that are currently in the market, it would be at a zero within two months, like all of the houses would be sold. That's going to continue to a greater or lesser degree throughout 2024. We will still find ourselves in a seller's market. But with rates coming down, there are a lot more opportunities for buyers, especially first-time buyers or buyers who are very dependent on those rates. So if you're thinking about buying a home, reach out, I'd love to talk to you, and help you navigate that process, whether it's your first home or your tenth. And if you're thinking of selling, yes, it is still a great time to sell and I'd love to talk to you about the best strategy to get your home on the market before the spring when there is still pretty little competition right now. So give me a call, send me a message, and let's set up a time to chat.

Who is the appraiser anyway? How did they get picked? How did they come into the transaction? What did they know? One of the most commonly asked questions about an appraiser or the appraisal process, especially if it's not going the way everyone wants it to go is," Who the heck is this person anyhow?". Appraisers are not just real estate agents. So in terms of "just" a real estate agent, they actually go through a lot of the same or similar licensing process, but they also have to apprentice under another appraiser for a period of time. So, they have to really not only do their homework, but take a lot of exams, and they are constantly having to update their information and their knowledge to make sure that they are doing their job correctly. They have a lot of responsibility, and nobody picks them. So back in the olden days, it used to be that if an appraiser worked in a particular area, the lender and or the agents can say, Hey, we should have SO and SO appraised this property, they know the neighborhood, maybe I've known them for 10 years, they live in the neighborhood, or they work a lot in this county or municipality. After the mortgage crisis of '07/'08, the consumer protections that were put into place after that made it so those appraisers were chosen almost by a lottery. It's like their name just gets spit out as this is who does it. Because they want to make sure that it is a totally unbiased opinion of value. Follow along to the rest of my series on appraisals and get all the information about who they work for, why they do what they do and how it affects you. When you are in the midst of a real estate transaction.

If you're thinking of buying or selling a home, one of the things that's going to affect you on either side is the appraisal. So I'm going to do a short chapter, series, number of episodes on appraisals and tackle some of those frequently, commonly asked questions or situations that come up in the appraisal process. First things first, what is an appraisal? An appraisal really is an opinion of value. It is the most objective opinion of value because it is made by an uninterested party, right? It's not what the seller thinks the property is worth. It's not what the buyer thinks the property is worth. Nor is it what the agent thinks the property is worth. It is really an opinion of value by a an educated appraiser who only does appraisals. They are not involved in the transaction and it's based on the comparable sales around the property. So, you cannot use a property that's 50 miles away. You cannot use a property that is unlike the subject property. But it is an opinion of value, so they're not always going to be exactly the same, but they have to use information to back them. If you're curious about how appraisals work, what goes into the appraisal process and how it can affect you. If you're a buyer or seller follow along for the whole series and I'm going to answer all the questions you can think of about appraisals.

Richmond, Virginia always offers a variety of engaging events, and late January 2023, perfect for those looking to explore the cultural and entertainment offerings of the city. Here's a snapshot of four events that I'm adding to my calendar: BLUES PARTY! at Orbital Music Park (January 22, 2024): For music enthusiasts, the BLUES PARTY! hosted by Orbital Music Park is a must-attend. Taking place at Révéler Experiences, this event celebrates blues classics with live performances. It's an interactive experience where musicians of all levels are welcome to join, and audience participation is encouraged. The event runs from 7:30 PM to 10:30 PM, offering an evening of great music and community spirit​​. Vegan Food Week 2024 (January 23 to January 28, 2024): Foodies will love the Vegan Food Week, a week-long celebration of vegan cuisine in Richmond. This event sees local participating businesses showcasing their vegan specials. Highlights include free sweet treats from Ruby Scoops Ice Cream & Sweets for visitors who explore five or more locations, and a special Carrot Ginger Kombucha by Ninja Kombucha. It's a great opportunity to explore the city's vegan culinary scene​​. LINE DANCE TUESDAYS at River City Roll (January 23, 2024): Put on your dancing shoes for LINE DANCE TUESDAYS at River City Roll. Hosted by Carlos “The Line Dance Prince”, this event offers a fantastic Line Dance class from 6:30 PM to 9:30 PM. It's a fun way to stay active and meet new people, and you can also enjoy Happy Hour starting at 5pm before the class begins​​. Trivia Night at Bingo (January 23, 2024): For a night of fun and brain teasers, Trivia Night at Bingo is the place to be. Held every Tuesday and Thursday from 7 PM to 9 PM, this event is hosted by Trivia Ball of Fire Entertainment. It's a great way to test your knowledge, enjoy some friendly competition, and possibly win some prizes​​. These events are just a glimpse of what the Richmond area has to offer this January.  From music and food to dancing and trivia, there's something for everyone to enjoy in this vibrant city. If you're looking for more info on Richmond, or you're thinking of making a move, send me a message, or follow me on social!

Serves 4 Ingredients 4 chicken breasts 3 medium carrots 1 pound brussels sprouts 4 medium yellow potatoes 1 medium red onion 3 tsp dried thyme 1 cup chicken broth 3 cloves garlic 1/3 cup sour cream 2 Tbs all-purpose flour 2 tsp garlic salt 2 Tbs butter 4 Tbs olive oil Salt and pepper to taste Wash and dry all produce. Preheat the oven to 450°F. Halve Brussels sprouts. Peel, then cut carrot into 1/4-inch rounds. Cut potatoes into 1/2-inch pieces. Roughly chop the red onion into 1/2-inch pieces. Peel, then mince or grate garlic. Add potatoes, Brussels sprouts, carrots, half the onions, half the garlic, half the thyme and 1 tbsp oil on a baking sheet. Season with pepper and half the garlic salt, then toss to combine. Arrange evenly into a single layer. Roast in the middle of the oven, stirring halfway through cooking, until golden-brown, 20-24 min. While veggies roast, pat chicken dry with paper towels. Add chicken, remaining thyme, remaining garlic salt and 1 tbsp oil to a large bowl. Season with pepper and toss to coat. Heat a large non-stick pan over medium-high heat. When hot, add 1 tbsp oil, then chicken. Cook, until golden-brown, 2-3 min per side. Remove the pan from heat. Transfer chicken to the baking sheet, on top of veggies. (NOTE: Give the veggies a stir before adding the chicken.) Roast in the middle of the oven, until chicken is cooked through, 10-12 min. While veggies and chicken roast, heat the pan from the chicken over medium heat. When hot, add 2 tbsp butter, remaining onions and remaining garlic. Cook, stirring often, until onions soften, 2-3 min. Sprinkle the flour over the onions and cook for 1-2 min. Add chicken broth. Cook, stirring often, until sauce slightly thickens, 4-5 min. Remove pan from heat, then stir in sour cream. Thinly slice chicken. Divide veggies and chicken between plates. Spoon pan sauce over top.

The metro Richmond area real estate market in 2023 demonstrated both resilience and competitiveness, making it one of the most active markets in the state. As we step into 2024, most trends and predictions suggest a dynamic year ahead. Market Overview and Trends in 2023: Throughout 2023, our market was a ALL about the sellers. With high demand and competitive bidding holding steady all year, it was a tough one for buyers, particularly as interest rates ticked up to nearly 8%. A significant portion of sales, (about 55.4%) closed at prices above the listing price, indicating a highly competitive environment​​. The average sale price of homes in Richmond maintained an upward trend as well,  fueled by the influx of young professionals and steady population growth in the area. One of the more difficult hurdles buyers faced was the inventory shortage- while already tight, it was made worse by sellers not moving because going from a 3% (or sub 3%, in many cases) rate to one that's 7 or 8 was just too unappealing. Housing Affordability and Demand: The concern for affordability continued to grow in 2023 due to rising interest rates and low housing inventory. This situation made homeownership more challenging for many potential buyers. Despite these challenges, Richmond's real estate market continued to thrive, with the rental market showing particularly strong growth. Rent prices increased by 22% over the past two years, in fact. The Richmond area is one where generally, it is still less expensive to buy than rent, though, which makes it good for both buyers of primary residences and those buying investment property. 2024 Predictions: Looking forward to 2024, the Richmond Metropolitan Statistical Area (MSA) forecasts a stable outlook,  While some predictions show a slight dip in housing market performance by the end of the year, headed into a major election that seems nearly impossible to predict.  The Virginia housing market as a whole is expected to see an 11.4% increase in home sales compared to the past year, suggesting a rebound from 2023's relative decline. Home prices are also projected to rise modestly, by about 1.2%​​​​. Real Estate Investment in Richmond: Richmond continues to be an attractive option for real estate investors, particularly those interested in the rental market, due to the large student population. The city's status as the state capital and a hub for commerce and education enhances its appeal for investment. The market is expected to yield good returns in the long term, with home prices showing a year-over-year upward trend​​. The Richmond real estate market in 2024 is poised for a year of adaptation and change. While challenges like low inventory and affordability constraints still exist, the market is expected to remain competitive and moving throughout the year. As we head into a spring market with lower mortgage rates, more buyers will surely be out home shopping. It is a great time to think about selling if you've been on the fence (and easier, as a result, to find something to purchase after your sale). If you're thinking of purchasing in 2024, this is the time to start building a game plan and getting your pre approval. As rates dip lower, competition for the homes available will absolutely increase. Make sure you're ready when you find "the one."  For investors and homebuyers alike, understanding these dynamics and staying informed will be crucial for navigating this evolving market. Richmond's steady population growth, thriving job market, and diverse real estate options make it a unique opportunity in the rental and overall housing market, through 2024. Curious about the value of your home, or what you can purchase? Reach out to me today and let's discuss!

French toast has been one of my favorite breakfast dishes for as long as I can remember. With the business of the holiday season, this is a terrific make ahead dish for breakfast, brunch, or Christmas morning, and perfect for a crowd! For French Toast Butter, for greasing 1 loaf crusty sourdough or French bread 8 whole eggs 2 c. whole milk 1/2 c. heavy cream 1/3 c. sugar 1/2 c. brown sugar 2 tbsp. vanilla extract or paste Warm maple syrup, for serving Butter, for serving 1 c. fresh blueberries or strawberries, for serving Topping 1/2 c. flour 1/2 c. firmly packed brown sugar 1 tsp. cinnamon 1/4 tsp. salt Freshly grated nutmeg (optional) 1 stick cold unsalted butter, cut into pieces Directions: For the French toast: Grease a 9'x13' baking dish with butter. Tear bread into chunks, or cut into cubes, and evenly distribute in the pan. In a large bowl, whisk together the eggs, milk, cream, both sugars, and vanilla. Pour evenly over the bread. Cover the pan tightly and store in the fridge until needed (ideally, overnight). This can also be made and baked all at once. For the topping: Mix the flour, brown sugar, cinnamon, salt, and some nutmeg in a medium bowl. Stir together using a fork. Add the butter and use a pastry cutter or your hands to mix it all together until the mixture resembles small pebbles. Store in the refrigerator until needed. When you're ready to bake the casserole, preheat the oven to 350˚. Remove from the refrigerator and sprinkle the topping over the top. Bake for 45 minutes for a softer, (bread pudding-like) texture or for 1 hour or more for more firm, crisp texture. Serve and top individual portions with butter, drizzle with warm syrup, and sprinkle with berries.

As 2023 draws to a close, the Metro Richmond real estate market presents an intriguing landscape for homebuyers, sellers, and investors alike. This comprehensive analysis delves into the current state and future outlook of the Richmond market, offering what I hope are some valuable insights for those navigating this dynamic environment. Current State of the Richmond Real Estate Market Richmond, known for its affordable housing market, vibrant culture, and rich history, is part of a larger metropolitan area encompassing Chesterfield, Hanover, Henrico, and Richmond City, home to nearly one and a half million people. In 2023, the market exhibited several key trends: New Listings and Sales: There was an 8.3% decrease in new listings compared to 2022, with a 27.8% drop in closed sales, reflecting a challenging environment for finalizing transactions​​. Median and Average Sales Prices: The median sales price in Richmond saw a 6.9% increase, reaching $405,000, while the average sales price rose by 8.5% to $472,515​​. Market Performance Metrics: Properties were moving quickly, with median days to pending at just 6 days. About 66.6% of sales were transacted over the list price, suggesting a competitive market​​. Anecdotally, I can definitely speak to this, as nearly no transaction with which I've been involved has had only one offer. Predictions for 2024 Looking ahead to 2024, several predictions and trends are shaping the Richmond real estate market: Economic Growth and Mortgage Rates: A backdrop of modest economic growth and slightly higher unemployment is expected. Mortgage rates are anticipated to begin a slow retreat, improving housing affordability but potentially increasing demand as more buyers get into the market after having been waiting out the higher rates. Home Prices and Sales: A slight dip in the growth of home prices is expected, with a continued trend of stable but low home sales levels​​. Don't misconstrue this- it doesn't mean prices are dropping, just that prices may not continue at the same level of growth over the next year. (I definitely predict they'll still increase, though.) Housing Inventory: The number of existing homes for sale is expected to remain low due to insufficient building in past years. Mortgage rates are expected to exceed 6.5% for the year, maintaining the gap between market mortgage rates and rates on existing mortgages​​. (It's harder to sell when you know you're giving up 3% and going to 6%, so fewer homes are likely to hit the market.) Rental Market: The rental market is expected to see a mild decline in median asking rent, with a robust supply of new multi-family homes tempering rent growth​​. Opportunities for Buyers and Sellers: First-time homebuyers may find some relief as the market becomes slightly more buyer-friendly in some respects. Home sellers, on the other hand, might face increased competition from new construction homes​​. Richmond Specific Forecast: For the Richmond area, a 3.3% growth in home prices is predicted for 2024, despite a projected 11.6% decrease in sales​​. The Richmond real estate market as 2023 closes shows resilience and potential for growth, offering a dynamic landscape for both buyers and sellers. While sellers remain in a strong position due to high demand and quick sales, buyers should still be prepared for competitive conditions, especially for well-prepared homes. However, with the expected easing of mortgage rates and a slight adjustment in home prices in 2024, the market may offer more balanced opportunities for both buyers and sellers. So if you're thinking of buying, let's meet and create a strategy to get you where you want to go. If you're thinking of selling, the market is still yours- I'd love to help you figure out how to maximize the value of your home, and get it sold to give you the most in your bottom line.

So you're thinking about buying a house, or a condo, or a townhouse, or something? How do you decide on what the right type of home to purchase is based on your budget and your lifestyle? First of all, a lot of people, with lower price ranges particularly, often think a condo or a townhouse is going to solve all their problems, because usually, they're a little less expensive, in most cases than a single-family home. Don't forget that one of the things you have to include, and that your lender is going to look at, in your qualifications number, is the homeowners association, the condo association, whatever they want to call it, that community that you're joining is going to have a fee every month. Sometimes it's going to have special assessments, sometimes those fees can go up. But always, you're going to want to make sure that the fee that is there now is going to work with your budget and the payment that you're going to end up with, and that it's going to cover enough to make you feel comfortable spending that money. The main difference between a townhouse and a condo is the type of ownership. Basically, in a condo, you own what's inside the four walls. Often people think of condos as units in a building like apartments. But, sometimes townhome-looking things can be condos as well. But again, you only own what's inside those four walls. As opposed to having any land or garden yard, whatever that is yours. Obviously with a single-family home, unless you're in a maintenance-free community, all of that exterior maintenance is going to be yours with a townhouse or a condo. Often, that fee is going to cover things like the landscaping and the outdoor areas. Usually, if there's a pool or other amenities, tennis courts, that sort of thing, it's going to cover those as well. But often, it will also cover siding, the roof, the exterior items like doors, and things like that. But those are going to be on a schedule. So there are a lot of moving parts. When you start looking at those associations, what they cover, and how they're covered, you might be thinking, well, I'm not going to pay $250 a month because I can buy a house and then I'll just mow my own grass. But, you can usually pretty much assume that you're going to end up somehow spending at least $250 a month on your single-family home unless you are kicking some maintenance items down the road a little piece. So while the money is important, often the lifestyle is even more important. More maintenance-free options, like townhomes and condos, I think are fantastic for a lock-it-and-leave-it mentality. If you travel a lot for work or you travel a lot for pleasure, or you just don't have time to do yard work or it's just not something you want to do. You don't want to have to worry about getting quotes on a new roof. You want somebody else to deal with that. Or maybe you want the amenities that come with a townhome, a maintenance-free community, or a condo. Those are really lifestyle differences instead of just simple financial ones. Make sure that you read those documents well. You do have a three-day right of rescission, if you can't live with the way that they take care of the property, what you're paying for, or if it looks like their finances are shaky. You want to make sure that you're comfortable not only with the amount of money, but also what you're getting for the amount of money you're paying. A condo or townhome may be for you if you want to have a little bit more of a hands-off approach to maintenance. Sometimes it's worth it and sometimes it's not. If you're thinking about buying I'd love to talk through it with you and help you determine what the best deal for you is for both your budget and your lifestyle to make sure that the home that you buy is one that you love to live in. Give me a call send me a message shoot me an email and let's get started.

If you're thinking about putting your home on the market, yes, even in the seller's market, there are always things that you can do to make it show a little bit better and make it a little bit more appealing to a larger pool of buyers, and that's always going to help you in the long run. One of the easiest things or the 'more easier' thing to DIY is going to be your outdoor space. Especially as we head into the fall in winter a lot of the competition is not going to be doing a lot to their outdoor space because everything starts to look gray and bed and cold and brown. Today's buyers place a premium on well-kept and well-built-out outdoor space. So especially heading into the fall and winter, it is a great way to put your listing ahead of the pack by making your outdoor space more appealing and approachable. In fact, in 2020, 26% of buyers that were surveyed, said that that outdoor space made a huge difference in them wanting to buy a particular home over another. This can look as simple as putting nicer furniture outside or just staging an area to show that it could be a great firepit or relaxing area in any season. If you're wondering about ways to help make your outdoor space a little bit more appealing, I'd love to come take a look at your home if you're in the Richmond area. Give you an idea of what you can do to make your outdoor space a little bit more appealing to potential buyers make your indoor space a little more appealing to potential buyers and help get you the most return on your investment in your home. Send me a message give me a call or shoot me an email and let's set up a time for me to come take a look at your space and help give you that list of things that you can do to make it a little bit more of a wow in the sometimes a little gloomy or fall in winter markets.