Home Solutions has a few balls in the air right now in terms of properties. There are two currently being renovated for resale and three others will close in the near future, one of which is being funded by a private investor who will be getting a great return on their investment.
Behind door #1 is a home in a great Midlothian neighborhood. We are currently working on upgrades to this house and will be done in a week or so. We are painting the house, inside and out, upgrading the kitchen with new flooring, countertops and appliances, upgrading the deck, replacing some outdated light fixtures and doing some landscaping work. This is a great family home with a big backyard in a great school district. It's sure to sell fast (fingers crossed)!
Behind door #2 is a cape cod property off of Staples Mill. We are also currently renovating this home, with the biggest upgrade coming in the form of a master suite. The upstairs was never finished, so we are completely renovating this space into a master suite, which is bound to impress potential buyers!
The three other homes we are waiting to close on are in locations like the near west end (my personal favorite), the east end and Brandermill. All great locations scattered throughout the city and surrounding suburbs. The property in the near west end is being completely renovated, and we are adding a master suite to it as well. This home, also a cape cod, will be the biggest project we've done to date and I'm pretty sure I'm going to want to buy it for myself when all is said and done!
Stay tuned to the blog for before and after pictures of our properties! And remember, if you are interested in investing with Home Solutions make sure to check out our site http://www.richmondreinvesting.com/ for a free report on how to safely invest your money!
Tuesday, September 29, 2009
Wednesday, September 23, 2009
The Tax Credit Extravaganza
As everyone probably realizes already, the $8,000 first time home buyers tax credit has put a little giddy up into the housing market this year. Locally, this has had a great effect even when it comes to new homes being built. Chesterfield and Henrico have issued a growing number of building permits in the recent months. Fewer than last year but still much more than in the first half of 2009. The trend we are seeing though is that people are building smaller homes, likely an effect of the recession. That's why we, at Home Solutions, have been investing in smaller single-family homes. We usually look for homes that will be assessed in the $175,000- $250,000 range, which have been selling much quicker than the more expensive properties (nearly 70% of the homes in the Richmond area sold this year have been under $250,000, according to the Richmond Association of Realtors). Just today we put a contract on a house in the Brandermill area that should be able to sell in that range...and with four bedrooms in a great neighborhood, you really can't beat it. Especially with all of the improvements and upgrades we will be making.
Many buyers have attributed the tax credit for the recent purchase of a home. Without it, many people would still be renting. Combined with lower interest rates, though, the tax credit helped encourage potential buyers to take the plunge into home ownership. Unfortunately, time is running out to take advantage of this credit. The program ends on Nov. 30 and the buyer must have closed on the home by that date, not just have a contract. For practically the first time in my life, I'm hoping that the government spends more money to extend this program (on a side note, the credit is not only available to first time home buyers but also to those who have been out of the housing market for three years or more). Of course, extending the program would cost about a bajillion dollars (that's a rough estimate) and we already have a pretty handsome sum of debt in this country so who knows what the law makers of our great land will decide.
This is obviously an excellent time to invest in real estate, as I've said before. No, I'm not on repeat...I just firmly believe this. We are constantly looking for new properties to invest in and often times find more than we can handle. If you'd like to get in on the fun (seriously, it's a hoot), I suggest you go to our website www.buyfastrichmond.com. You can get put on our "Hot List" so you are immediately updated whenever we come across a bargain property. We'd love to have you or anyone you know along for the ride!
Many buyers have attributed the tax credit for the recent purchase of a home. Without it, many people would still be renting. Combined with lower interest rates, though, the tax credit helped encourage potential buyers to take the plunge into home ownership. Unfortunately, time is running out to take advantage of this credit. The program ends on Nov. 30 and the buyer must have closed on the home by that date, not just have a contract. For practically the first time in my life, I'm hoping that the government spends more money to extend this program (on a side note, the credit is not only available to first time home buyers but also to those who have been out of the housing market for three years or more). Of course, extending the program would cost about a bajillion dollars (that's a rough estimate) and we already have a pretty handsome sum of debt in this country so who knows what the law makers of our great land will decide.
This is obviously an excellent time to invest in real estate, as I've said before. No, I'm not on repeat...I just firmly believe this. We are constantly looking for new properties to invest in and often times find more than we can handle. If you'd like to get in on the fun (seriously, it's a hoot), I suggest you go to our website www.buyfastrichmond.com. You can get put on our "Hot List" so you are immediately updated whenever we come across a bargain property. We'd love to have you or anyone you know along for the ride!
Monday, September 21, 2009
Good news all around!
HSV girl was on vacation last week, but while I was out the company had a meeting with a new private investor. The meeting went well and hopefully things will be up and running with this investor soon so we can invest in a property and make them some money! If you or anyone you know is interested in our free report on lending, please visit our site http://www.richmondreinvesting.com/. The report is entitled "How You Can Safely Invest Your Money in Today's Market through Private Lending." It will be worth your while! There's no better time to invest in real estate than right now. It's the safe bet...and can be lucrative as well!
Home Solutions also picked up a property in the east end off of Route 5 in a great neighborhood and super convenient to downtown Richmond....pictures to come soon! Looks like this could be a great new home for some very lucky buyers by the time we are done with it. I will keep the blog updated with the progress of this house while improvements are made.
I should also mention that we are coming across more deals than we know what to do with. Needless to say, we need to move these properties fast! Check out http://www.buyfastrichmond.com/ for some great deals on homes we need to sell!
And it looks like there is good news for Richmond area real estate. The Federal Reserve has reported an increase in sales in the past six weeks. It also looks like the tax credit for first time home buyers has driven home sales in our area, which is great to hear! We are all hopeful that the real estate market will make a turn around soon, as it looks like the economy is slowly making it's way out of the recession.
Home Solutions also picked up a property in the east end off of Route 5 in a great neighborhood and super convenient to downtown Richmond....pictures to come soon! Looks like this could be a great new home for some very lucky buyers by the time we are done with it. I will keep the blog updated with the progress of this house while improvements are made.
I should also mention that we are coming across more deals than we know what to do with. Needless to say, we need to move these properties fast! Check out http://www.buyfastrichmond.com/ for some great deals on homes we need to sell!
And it looks like there is good news for Richmond area real estate. The Federal Reserve has reported an increase in sales in the past six weeks. It also looks like the tax credit for first time home buyers has driven home sales in our area, which is great to hear! We are all hopeful that the real estate market will make a turn around soon, as it looks like the economy is slowly making it's way out of the recession.
Thursday, September 10, 2009
Introduction to the blogosphere
I'm Erica and this blog is all about my adventures in family business. Our company is Home Solutions of Virginia and we specialize in buying distressed homes that need face lifts. We pride ourselves in doing excellent work and fixing these homes with quality materials and craftsmanship. We are looking to work with all kinds of people...those who need to sell their home quickly, those who are looking to buy a home and those who are interested in making a very smart (not to mention lucrative) investment in real estate.
I am also getting my real estate license so that I am able to sell the homes that we rehab as well as work with people looking to buy their dream home. I have lived in Richmond, VA my entire life and feel as if I know the city and surrounding suburbs like the back of my hand, so this should be a breeze.....right??
I encourage everyone to follow us on Twitter (@HomeSolutionsVA) and become a fan on Facebook (Home Solutions of Virginia) to stay updated on our latest and greatest projects!
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