There’s a well-known economic theory – the law of supply and demand – that explains what’s happening with prices in the current real estate market. Put simply, when demand for an item is high, prices rise. When the supply of the item increases, prices fall. Of course, when demand is very high and supply is very low, prices can rise
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I think people are curious about real estate, but I think their curiosity is fueled by the fact that the current national average of equity in mortgaged homes is $216,000, nearly 40% of all homes nationally are owned free and clear, and people are recognizing that they may finally have the leverage to sell, after many years of being upside-down or
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A quick run down of just 7 of the MANY reasons to own a home. 7 Reasons to Own A Home Tax benefits. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, and some of the costs involved in buying a home. Appreciation. Historically, real estate has had a long-term, stable growth in
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How to Stage Your Home While Living in It (Without Losing Your Mind) This summer, my husband and I decided to put our 1,200-square-foot Spanish-style bungalow in San Diego up for sale. Naturally, this involved meeting with a host of real estate professionals—all of whom agreed that in order to sell our charming little home for the price we wanted, we needed
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THIS IS A BIG DEAL! This may be the first time in FIVE years that we will see a PURPOSEFUL rise in interest rates. This information is only important if I’m planning to buy right? No, this is important for both buyers and sellers. As a buyer, an increase in interest rates could mean that you have WAY LESS affordability
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Learn more about the market in our area! In 2014, sals in the Charlottesville area were up 2.0% from 2013, and the number is expected to rise in 2015! This is an ideal time to reach out and find out what your options are and how the Sasha Farmer Team can help! Take a look here, and then give
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There were some awesome highlights this time around! Charlottesville Area 3rd Quarter 2013 Highlights: Overall sales in Greater Charlottesville were up 25.9% over the same quarter last year and represented the highest 3rd Quarter sales total since 2007. The median sales price of $267,612 in the 3rd Quarter was up 11.6% from Q3-2012, the highest year-over- year price gain of
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For those of you wondering about what the fiscal cliff means for real estate, what is going to happen with the mortgage interest deduction, and what will happen with capital gains taxes and estate taxes, check out this very brief summary of the fiscal cliff provisions regarding real estate. These are current as of January 1, when both the Senate and
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Before you spend thousands of dollars on a home renovation that you hope will add value to your house (and not just enjoyment), take a look at Remodeling Magazine’s annual list of remodeling cost vs. value for the mid-atlantic region first! This list provides a national survey highlighting which improvements are the most valuable and will produce the highest return
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Many of the counties locally release their new real estate tax assessments in January. Many have a 30 day period following that release, when you can appeal your assessment if you feel that your tax value is too high. There are certainly pro’s and con’s of appealing your tax assessment. Don’t know your current tax assessment? Email me and I am happy
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CAAR has just released it’s 3rd Quarter Market report, and it has many figures that are quite positive for the Central Virginia region. I know many agents have been “feeling” the uptick, but it’s great to finally see it quantified! CAAR Third Quarter Market Report
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It is actually quite often that people I run into have been completely misguided about their home values. With the incredible technology and information online about real estate and home searches, people often feel that real estate websites are getting to the point where they are extremely accurate and reliable. In some large cities, evidently this is true. In Charlottesville,
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