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If you're thinking of buying in this market, you're probably going to need a home inspection, but it might look a little different than a home inspection a year or so ago. Let's talk about it! If you have questions, I'd love to talk to you or help walk you through the process. Send me a message or reach out to me on Instagram at @cindybennettrealestate

I don't think there's anybody at all that thinks they can buy or sell the home and not spend any money between the contract to closing, but a lot of times people are a little confused about exactly who pays what and what are they going to have to pay. So here's a little breakdown of that whole scenario. And whether you're the buyer or the seller, what you're going to have to actually outlay before you get to the closing table. So remember, on the buying side, you're obviously the one that's going to spend the lion's share of the dollars even though you may be saving for those closing costs and the down payment, remember, there are a couple of things that you're going to have to pay before you actually get to the closing table. First of all, when you write that contract, you're going to have to put an earnest money deposit. Generally, this is going to be about 1% of the purchase price of the house. So if you're looking at a $400,000 house, that earnest money deposit is going to need to be about $4,000. So that can generally be paid by check, cashier's check or a money order or wire transfer, but it gets paid right then and yes, it gets deposited. We're not putting that cheque in the desk drawer until closing. However, that money does get applied towards your final closing costs and down payment number so it doesn't just go away, but you are going to have to pay that at contract. The next thing you're going to have to pay is going to be your inspection. That's going to get paid directly to the inspector, generally going to be between five and $600, depending on the size of the house, and it may end up being more if you have additional inspections like radon, electrical, roofing, etc. The third thing you're going to have to pay out of closing, and this may well for most people be the last thing you're going to have to pay outside of closing, is your appraisal. Keep in mind that appraiser wants to get paid whether your deal goes through or not. So they're not going to count that as one of your closing costs. That's generally going to be between five and $600 or so, and that is going to be required to be paid by the lender out of your pocket before closing. Once you get to the closing table, you can estimate that your closing costs are probably going to be between 2% and 3%. A lot of that depends on the type of loan, the lender, and all that good stuff, but that's going to cover all of your insurance, your taxes, your title search, your title insurance, all sorts of little fees like wire transfer fees, and such generally between 2% and 3% of your total cost, in addition to your down payment. Now what if you are the seller in the transaction, your final closing costs number is probably going to be less than $2,000. In most cases, it's going to be between $1,000 and $1,500. That's going to cover the fee for the attorneys to prepare your deed and again, all the city, county, and state taxes because everybody wants a little piece of the action. The other thing that you're going to have to pay for as a seller is the termite inspection. That's the only inspection that the seller pays for not the buyer—generally about $100. The buyers also going to have their inspection so if they want repairs done and you negotiate repairs, you're gonna have to pay for those too. Whether you are on the buying side or the selling side there are definitely costs but they are a whole lot easier to swallow when you know about them ahead of time. If you have any questions on either side of the transaction or if you need help buying or selling a home I'd love to help you give me a call! Have questions I didn't answer? Send me an email or dm me on Instagram @cindybennettrealestate.

Another month, and another post about the market shifting. If you pay any attention at all to the national news, you've likely heard all sorts of stories of how prices have plummeted as rates have skyrocketed, but here in the Richmond Area, things are a little less... well, dramatic. Has the market shifted here? Yes. It has. The days of 20 offers in a weekend packed with showings, appraisal and inspection waivers, and buyers giving up their first born to "win" the house are largely over. However- it's important to remember that we are STILL in an inventory shortage. That means quite simply that there are more buyers than there are homes to buy. So, while we may not see as many offers in multiple offer situations, we are still seeing some multiple offer situations. In fact, the average sales price in the Metro Richmond Area was $423,262 in October, up from $403,512 in September, and up almost 9% from this time last year. While we are seeing a bit of a slow down, we're certainly not saying SLOW. The average number of days on the market for listings was 16 in October, and that's down from 17 in September. Not a huge difference, but also not indicative of a serious slowdown. Last year this time, the average days on market for homes was only 14, though, so homes are indeed taking a bit longer to sell. Another data point that shows trends in the market is the percentage of sales price to list price. In October, that number was 101.2%. That means homes were *on average* selling for 101.2% of the asking price. That's definitely down from its peak a few months ago of 107.5%. Obviously, rates are up, and that has caused some buyers to adjust their price range and/or time frame for buying, but there are still lots of buyers out there, and we're definitely still mostly in a sellers market. To note, a balanced market is 6 months of inventory, and we are still (as of October '22) at only 1 month of inventory. That's a good bit away from a balanced market. Do you have questions regarding buying or selling? Real estate is not only local, but sometimes hyper local. Knowing what the market is in your county, neighborhood, and even specific to the home you're selling or looking to buy can make all the difference.    

Enter my first ever Great Big Thank You Giveaway! 2022 has been a pretty fantastic year, and that's in large part due to you, my clients, friends, and followers. I'd love to say thank you, and what better way than a great giveaway! I'll be giving away a Solo Stove Bonfire 2.0 to one lucky soul, so here are the details! How to Enter: 1) Buy or sell a home with me between January 1 and November 15, 2022. (4 entries) (Yes, you get 8 entries if you bought AND sold with me this year!) 2) If we've worked together, leave me a review on Google or Zillow! (Obviously, a great review is preferred. I always say, "If you have a bad experience, tell me. If you have a good experience, tell everyone!") (2 entries) 3) Subscribe to my YouTube channel between now and November 15, 2022 (2 entries) - When you subscribe, just take a screenshot and send it our way! If you've done any/all of the above this year, you're already entered!  All entries will be entered into a drawing to win a SOLO STOVE Bonfire 2.0! Contest ends at midnight November 15th and I will draw the name of the winner LIVE on IG November 16th at noon! I can't thank you enough for your business, your kind words, and your referrals! **The finer fine print. You must be local to win, and all entries will be verified.

Over the last couple of years, I've helped lots and lots of people move to the Richmond area from other parts of the country and one of the biggest questions I get is obviously, why Richmond? What makes it so great anyway? So I'm going to give you my top 10 Of all the things that I love about Richmond that I think makes us one of the best places to live. 1. There is always something to do here. If you cannot find something to do, you are literally trying to be bored. 2. Second, history. With over 300 historical markers throughout the Richmond area, you can always find history. Again, you'd have to really try not to. 3. Third, art is everywhere from the VMFA to the murals all around town. You can find galleries you can find high-end art and street art. It is a really fantastic place to soak up some art culture. 4. Nightlife and adult beverages shall we say. From craft beers to spirits now to wines and everything in between. You can go on tasting tours that last all day or have a great night out with friends. 5. Festivals, we love our festivals here in the Richmond area. And that means any opportunity to get together with friends, have a food truck, have some music, and have some adult beverages. We are in with both feet. We are there in crowds, all four seasons. 6. I grew up in Richmond but I have lived all up and down the East Coast. And one of the best things about our area is we have four actual seasons spring, summer, fall, winter, and none of them last too long. Yeah, it gets a little humid in the summer. But you know you can deal with traffic. People move, from up north especially, and they want a 45-minute commute. No one here has a 45-minute commute. You really have to have a horse farm to get a 45-minute commute. So you can be almost anywhere in the area within 20 minutes or so. 7. Proximity in the Richmond area. Within two hours you can be in the mountains you can be at the beach, you can be in Washington, DC or Colonial Williamsburg take your pick, and you can be just about anywhere in under two hours. 8. We are 6% below the cost of living for the rest of the state of Virginia and about on average with the rest of most of the country so you get a lot of the perks of being in a metropolitan area without paying for them. 9. Food. National Geographic voted us a few years ago as one of the best places in the world to visit for food and we are holding to that whether you want something really unique and delicious that you can eat on the sidewalk or you want to go have a world-class dining experience. We've got it all for you here. 10. Last but not least, the James River. That is probably one of my favorite things and it runs right through the city. So you can literally be in downtown Richmond drop in with your paddleboard or walk right up and rent a kayak and hop right in the river, 10 minutes after you get off work. Where else can you do that?

If you're on social media at all, you've probably seen someone do this trend, "Five Things I'd Never Do As A..." Well, I definitely have thoughts on this, and while there are probably more, these are either the top 5, or the first 5 that come to mind, I'm not sure which. (If I think too hard about it, I'd probably have 50.) Anyway, without further ado, here they are: 1- I would NEVER start looking at homes without talking to a lender first. Knowing your numbers- not only what you qualify for, but also what your downpayment options are, your closing costs, and your monthly payment will be is invaluable info. I cannot stress enough how often people guess incorrectly at this and fall in love with a house that's more than they can (or want to) swing, or start looking at homes and get exhausted because they can't find what they want, and they can actually afford me. (I mean, my clients don't, because I don't show anyone homes before they're preapproved.) 2- I would NEVER assume that Zestimate is accurately valuing my house. These automated estimates are based on an algorithm, so obviously they've not been in your home. Renovated kitchen? They have no idea. No updates at all? Still, they have no idea. It's simply based on the amount of similarly sized homes in the area that have sold recently. That's it. No homes like yours have sold? The more opportunity for it being incorrect. There is no replacement for having a real, live Realtor® walk through and do a thorough assessment and comparative market analysis. 3- I would NEVER buy the most improved house in the neighborhood. Yep. If it's between the $500,000 turn key, HGTV "big reveal" style home, or the "needs a little love" home down the block that is $400,000 (caveat- I'm assuming that the homes in the neighborhood trend closer to that $400k range) I'm picking the $400k home and putting in the work. It will be what I want, probably not cost me $100k, AND give me some instant equity. 4- I would never RELY on a home warranty to cover me for everything. I'm not bashing home warranties (although I could- that's another post entirely), and I do think in some circumstances, they provide a bit of a safety net. But, having had lots of experiences with these, in most cases, you can get the small things done for the same price (or a bit more) with SO MUCH less hassle by just calling someone who does that work. Will they replace your heat pump if it conks out? Yes, but with lots of hoops for you to jump through. 5- I would NEVER expect the inspector on my listing or home to find nothing. There is literally ALWAYS something, and they are paid to find it. I can almost guarantee, too, that if you have one inspector over today, and they give a list of things to fix (and you fix them all), you can have another over the next day, and they'll find a whole new list. Do the best to get your repairs done, but don't expect nothing. And if you're buying? Remember- everything can be fixed. It's just a matter of what needs to be done, how much it will cost, and who pays for it. Did any of these surprise you? I'd love to hear something you'd never do after buying or selling one (or 100) homes!

Let's discuss what I mean by "referral platforms" and what happens when you start your home search using one. Have questions? I'd love to help answer them! Find me on Instagram @cindybennettrealestate or send me a message with the chat button below.

Well, it's been a minute since I bought my first home, but it occurred to me that there are some things that I really wish I had known. So here are the seven things that I wish I had known when I bought my first house. Number one, as soon as you start looking at Pinterest, scrolling through apps, and looking at homes, find yourself an agent. Whether it is your next-door neighbor's best friend, or you find someone online on social media, ask your friends, ask your family, and find an agent that is going to work for you. Number two, the listing agent represents the seller. So if you are scrolling through homes online, and you roll up into an open house on a Sunday, and you love it, the only agent that you have now had any sort of communication or relationship with is the agent that represents the seller, that is not necessarily the agent you want representing you. Number three, don't be afraid to ask questions. And I mean, ask questions, there is no stupid question. Ask your lender, ask your friends, ask your agent, and make sure that all of your questions get answered, I see this almost more with folks who have purchased multiple homes than I do with first-time buyers. So even if you've bought five, six, or ten houses, you probably haven't bought them this year in this market, and maybe not in this state or in this city or county. So don't hesitate to ask, I promise we're not going to judge you and think it's a stupid question. Number four, know your numbers. So you're obviously going to be saving for your closing costs and your downpayment, and all of that stuff. But remember, you're going to want to furnish that house too. You might want to buy some plants, you're gonna have to pay for movers. So make sure that you're accounting for those things. I have some great checklists and your agent probably does too. Make sure that you're preparing for all of those circumstances that are going to come up. Number five know the disclosure laws. Here in Virginia, we are a buyer-beware state which means the seller doesn't have to tell you all of the stories about the times that the pipes leaked or anything else. They are going to say as far as we know, it's okay. Unless as far as they know, it's not. They are required to disclose if they know there's a problem, but proving that they knew or didn't know later is very difficult. Have an inspection with an inspector you trust and again, ask questions. Number six, just to reiterate, have an inspection. You can have any and all inspections as long as you have listed those in the contract and agreed upon that with the seller in your contract for purchase. So not just a whole house inspection, but if you're particularly concerned about the roof, you can get a roofer out there to check it out. You are going to pay for all those inspections but it is a whole heck of a lot easier to do that than pay for a new roof after closing. Finally, number seven, lean on your agent. This goes back to selecting an agent that is somebody that you are comfortable with, comfortable asking questions and comfortable getting referrals from. My clients call me years, months, whatever later and asked me for a great lawn care person or a great gutter guy. If you want somebody who can be a resource, make sure you have all your information. I promise you a will make the process so much easier. If you are looking to buy a house I would love to talk to you. I am happy to help answer any questions whether you are here in the central Virginia region and I would love to help you but I have agents and friends all over the country that I can put you in touch with to give you the same level of service.

If you’re looking for some fun fall activities in Richmond, Virginia, check out my 2022 RVA Fall Guide! Click the link below to get your copy today! https://bit.ly/3y8T9ev

Are you thinking of selling your home in this shifting market? Well, the window where you could just throw a sign in the yard has probably closed and there are definitely five things at least that you need to do before you get your home on the market to maximize the value Number one, this is gonna sound really obvious but clean, clean, clean. Clean like your mother-in-law's coming like the queen is coming for dinner. Clean the windows, the baseboards, all of the surfaces, even the furniture that yeah, they're not buying, but just clean everything. Number two, paint or at least clean up the scuffs touch up the paint where you can see the wire around the corners, all those little spots that show that yeah, you've lived in the house and you've loved the house. But if your living room is hot pink, maybe you want to tone that down so they can visualize themselves there too. Number three, focus on that curb appeal. The first impression can't be redone. So your front door should be freshly painted. Make sure that the hardware is gleaming, and put fresh mulch, weed your lawn, cut the lawn, get all the cobwebs off the lights, and make sure that when people walk up, it feels like a new house, it feels welcoming and for heaven's sakes spend the $13 to get a brand new doormat. Number four prep for your photos. Make sure that even though the house looks great to you with your naked eye, the cameras gonna see the same thing that you think you see. So that means take your iPhone, go through, take some snapshots and see what your naked eye might not have seen. If the flip-flops had been left under the sofa. Your purse is still on the counter or that dog toy is laying in the middle of the living room floor because it's always there. So who notices it? Get those things out. And a good rule of thumb is if it's smaller than a softball, take it off the surfaces of your desks, dressers, and bookshelves, it just clutters the eye you want people to see that house. And finally number five, a great way to get a head start on the marketing of your home is to make a list of all the things that you love about it. If you love that there is a playground two blocks away, or that the sunsets from your deck are the best thing ever. Put that down on a list and let potential buyers see those things. But also make a little list of the things that you've done since you've lived in the home if you just put in a new water heater that might not jump out to the potential buyer but if you pointed it out to me it'll make a difference. If you want more tips on getting your home ready for market, give me a call, or shoot me a message. I'd love to come and help give you a customized walkthrough on ways to maximize your value.