Investing in Richmond, VA - Market Update

Although Just List , we are, in fact, based in Richmond, VA. Therefore, having lived in Richmond awhile now, I’ve been able to really see how much of a thriving market exists here in the “River City.”

The Richmond area, first off, is broken down into a few “sub areas.” There are the suburbs of Richmond: Short Pump, the West End, and Highland Springs/Varina (which are considered part of the East End). AND the city itself, is broken down into various districts: the Museum District (which includes BEAUTIFUL Monument Avenue), the Fan District, Carytown, Byrd & Maymont Park, the River District (which includes Shockoe Slip & Shockoe Bottom), and historic Church Hill. No matter which area of Richmond you look at, all of them are rich and thriving with culture, a great sense of community, and timeless history.

Okay, enough of the mushy stuff. Let’s take a look at some facts and figures**:

• FACT: The Richmond metropolitan area’s economy is continuing to perform better than the national economy, despite the fact that the Richmond area IS feeling some of the national trends to a certain extent.
• FACT: There were 1,855 existing homes sold in the first quarter of 2009 in RVA. This number IS a drop of 18% from the first quarter of 2008. However, this number is continuing to improve on a daily basis. For example, there were approximately 453 homes sold in January of 2009, 458 homes sold in February, and 595 homes sold in March of 2009 — this number is steadily improving.

Here is why Richmond and the central Virginia region are lucky: RVA is in a great position as far as location, continued overall improvement, economic growth, and very low mortgage rates. All of these are above the national average, placing Richmond on the map as far as great places to live, are concerned.

So, if you are looking to SELL your home in Richmond, NOW is the time. For example, if you were to list your home through Just List ‘Em and your home were to sell at a MEDIAN price of $148,500… you would save approximately $8,000 on commission at a rate of 6%. You would ONLY be paying the $299 list fee. How awesome is that?

This Richmond, VA home sold in 2 DAYS using Just List 'Em!

In fact, we have a recent Richmond, VA success story to share with you.

We received a listing on Tuesday, April 28th for a nice 3-Bedroom home with a list price of $149,900 located in Richmond, VA.  The home had good curb appeal and was priced competitively for the market.  The Seller was excited when the Realtors began calling him to show the house on Tuesday and Wednesday of that week.  In all, there were four solid showings in the first two days on market.  The user was very happy to receive a solid offer from a qualified buyer on Thursday night.  This home sold in 2 days on the market using the services of www.justlistem.com.

If you have a similar success story please take a moment and share it with us.  We really appreciate every single user of the service and look forward to many great listings in the future.  We will look forward to connecting your house to the right Buyer using the MLS, realtor.com, yahoo, Google, trulia, etc.

Now, if you’re looking to BUY in Richmond… NOW is the time. Mortgage rates are extremely low, there’s that incredible TAX CREDIT for first-time-home-buyers, and homes are listed for sale all over the place. Try looking in one of the up and coming areas such as the Fan District or Church Hill. I guarantee you will not be disappointed by the River City.

If you have any questions for us about a particular housing market, let us know! We are always on top of the latest trends and willing to help YOU sell your home OR find and buy that dream home.