John VanderSyde, Associate Broker-Richmond VA

WHO KNOWS! At this point reports regarding extending the government tax credit seem to be changing by the hour. On Monday reports stated it would under no circumstances be extended; by Thursday the media was a-buzz with a potential compromise that will extend the timeframe. The on-again/off-again tax credit extension includes numerous revisions of what may be included if it survives the current November 30^th deadline. By the time you read this, it may have changed yet again!

Regardless of the pending tax credit compromise, market indicators point to the probability that home sales will continue to improve in our area as unemployment decreases and the stock market rises. We can anticipate higher home prices, and perhaps an increase in interest rates, by the first of the year. This does not necessarily mean we are out of the proverbial woods, but it certainly supports conditions where new home starts and improved residential re-sales in Richmond will steadily rise.

So, anticipate positive changes in the real estate market, and understand that it's a wonderful time to buy and sell a home. Get moving now while conditions for great housing opportunities remain available, with or without the tax credit. Contact your most trusted real estate professional so you may secure the home you are looking for today.

John VanderSyde is an Associate Broker with Virginia Properties, a Long & Foster Company, and is also a Licensed Architect. Contact John or Ann VanderSyde for more information at (804) 282-7300.

Did you know that approximately 85% of people looking for homes use a REALTOR®? In spite of the fact that the majority of home buyers start their search on the internet, they still choose to work with a real estate professional once they are committed to a serious home search.

Realtors don't control housing information the way they did twenty years ago, before MLS and computer based systems began sharing information freely across cyber space. What they do provide is an in-depth knowledge of homes and property values that only comes from daily interaction with other professionals, buyers and sellers. This constant commodity awareness is the same reason we chose to work with professionals in other parts of our lives. Why should buying a home be any different?

On average, it takes ten weeks for someone to find the home they intend to purchase. During this period it is no surprise that purchasers want the guidance that knowledgeable sales agents bring to the table. Not to mention, attention to detail and individual representation during unusual times where nothing in a housing transaction can be taken for granted. In order to be successful, someone must be on your side, looking out for your interests, and representing your needs, wants and desires.

So, start looking for your next home the same way 87% of buyers do, on the internet. But don't hesitate to get your most trusted real estate professional involved in the process early; they provide information not accessible online, along with the advice and guidance you will need to begin a serious search, and to find the home that best suits you.

John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and is also a Licensed Architect. You can learn more about John and Ann by visiting www.InSydeHomes.com or by calling (804) 282-7300

Statistics show that the spring months tend to be the best time to buy or sell a home in Richmond. After being cooped up all winter we are ready for change with the arrival of warm weather and fresh foliage. We are fortunate in Richmond to have a robust fall market as well. Once again, due in part to our mild temperatures, the fall offers opportunities to collect ourselves as we prepare to settle down for the winter, and this attitude is reflected in property sales.

In contrast, August is the slowest month for home sales just ahead of December. One can actually feel the pulse of activity around town dip during these months. As summer comes to a close, people are focused on getting in that last vacation or making preparations for the new school year. December is the height of holiday celebration and travel. Most of us are not looking for a big lifestyle change at these times. One thing is for sure, the people out looking for homes during these months are usually very serious about buying.

Any good realtor will tell you that a home can't be sold unless it's on the market. Honestly, any time of the year can be great for moving property, and the off-season can sometimes work in your favor. The rules are the same. You simply need to know your market and determine what you can do to be the best product available or position yourself to get one. Consult your most trusted real estate advisor and make a move today!

John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and is also a Licensed Architect.

In Richmond, Virginia, should we believe the news recently reporting that the real estate market is finally turning the corner? Notice I didn't say "improving". Nevertheless, media reports have been more forthcoming with increased frequency about where the housing market is these days, and that perhaps we hit bottom back in December. I'm also getting reports from other parts of the country claiming more positive housing trends.

So why do we need the media to tell us that things are getting better? I've spent the last six months evaluating the market in order to better counsel my buyers and sellers. I've done my best to put a positive spin on what has been a difficult time, but there is no denying that this is one of the best times in history to buy a home.

For whatever reason, most people don't want to hear about real estate changes from their Realtor. They would prefer to wait for it to be reported in the news. I hate to say it, but who do you think has the inside line on housing trends; the people who work in the industry daily, or the ones reporting on it from the outside?

Do I believe the market has corrected itself? Do I feel the housing crisis is over? Do I think the home situation is completely stabilized? The answer to these questions is "NO"! I do believe there is no one out there more qualified to help our buyers and sellers evaluate the market in order to make informed decisions bout their housing choices than REALTORS®. You don't need the media to tell you how it works; find a trusted advisor and consult with them. That's what I do in every other aspect of my life, why should Real Estate be any different?

John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and is also a Licensed Architect.

I knew a man who would advise buying as much home as you can possibly afford. His philosophy being, I believe, that you will grow into your investment. In other words, it will never be more affordable than it is today. Furthermore, as you succeed in life its affordability will continue to improve.

The recent economy and seemingly uncertain housing market may have some people questioning this advice. But this suggestion was given at a time when most buyers were looking to stay in their home for at least five to seven years. With this stipulation in mind I believe it is still sound advice today, but I will ad you shouldn't expect this home to be perfect; leave room in the price for improvements!

I have found many buyers are searching for homes at the upper limits of their comfort zone. When they get inside they are expecting everything to be as if they already owned it. This is mainly because there is little or no money left over after purchasing to create the improvements they desire in order to make the home theirs. As a result they end up feeling disappointed with the selection process, or with a seller's lack of willingness to compromise on price.

One suggestion is to reframe our thought process when considering which homes to purchase. It may be a good idea to lower our price point, and perhaps our expectations, when choosing what homes to visit. It is important to have a little vision. I've never met a buyer who didn't want to change something in the home of their dreams.

Improvements don't need to be a bust. Most mortgage lenders today can provide construction loan packages that become part of a mortgage upon completion of desired improvements. This allows one to get the home they want without compromising on those items that are a must have in the next home they wish to purchase.

So consider your price-point-comfort-level in determining how much home you can afford. Have a little imagination, or consult with someone who does; this will allow you to find the basic home you are searching for while leaving room in the budget to make the improvements you need to live happily, for at least the next five to seven years!

John VanderSyde is an Associate Broker with Virginia Properties, A Long & Foster Company, and is also a Licensed Architect. You can learn more about John and Ann by visiting www.InSydeHomes.com or by calling (804) 282-7300