Richmond, VA
Including: Richmond City & Chesterfield, Amelia, Powhatan, Hanover, Henrico & Goochland Counties
Volume 25, Issue 12
Luxury Living
IN HALLSLEY'S FINEST NEIGHBORHOOD!
Custom Built 7 BR/6.5 BA home. Your Dream Home awaits!
See pages 10 & 15 for more details.
RealEstateBook.com
Request FREE MAGAZINES online, or call 800-841-3401
88728.25.12.001.Cover.indd 1
Listing Agent: Matt Cullather (804)301-6288 MCullather@Gohtr.com www.mattcullather.com
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Page 2 - Please Say You Saw It In The Real Estate Book - Vol. 25, No. 12
Debra Adams
Anita Flippin
Bob Gary
Pam Glover
Georgia Holman
Bryan Lester
Lisa Melara
Travis Morris
Diane Snider
Diana Morris Principal Owner/Broker
Licensed in the State of VA.
16410 Court Street Amelia, VA
Carlosue Lacy
Alex Melara
P LA RIM ND E !!!
$1
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AC 20+ RE S!
(804) 561-5600 www.commonwealthrealestateco.com
Text P378395 to 52187
Text R524787 to 52187
Text R310544 to 52187
,0 $2
59
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BR BEA IC UT K IFU HO L ME !
PRIME PROPERTY - PERFECT FOR DEVELOPMENT AND/OR POSSIBLE COMMERCIAL USE. SELLER IS FLEXIBLE AND HAS A TOTAL OF 236 ACRES AVAILABLE AND WILL SELL ALL OR PART with this 30 Acre parcel. GREAT LOCATION just over the Chesterfield/Amelia line!
00
RARE OFFERING of VINTAGE Farm house and Country Store!! Situated on nearly 8 ACRES (7.760), this 2496 square feet of Living Space is waiting for your Creative Vision to bring it back to the glory of yesterday.
00
Vintage Farm House on 20+ Acres! Rural! No Restrictions!
This is a RARE opportunity to purchase this WELL CONSTRUCTED BRICK home on 1.912 Acres made up of 3 valuable lots! This SPRAWLING home consisting of 2000+ sq.ft. of LIVING SPACE on the Main Floor & 2000+ sq.ft. of LIVING SPACE in the BASEMENT.
Text R163275 to 52187
Text R424480 to 52187
Text R84321 to 52187
,0 59 $1
00 ,0 21 $2
00
WOW! BIG house - LITTLE taxes! Come take advantage of the Amelia county tax rate and get a SPRAWLING & CHARMING 2292 sq.ft. Custom, Renovated 2 Story Farm House Style home.
HO NEW ME !!!
What a great opportunity to own a Commercial/Industrial Building with a rentable 2 Bedroom Apartment on 1 acre in High Traffic Area close to Highways 360 and 460. 2760 sq.ft. of retail/storage/office space.
This three bedroom, 2 and 1/2 bathroom has plenty of space for everyone! This property is just down the road from the Amelia Wildlife Preservation Area and the large Lake for fishing! Don’t miss this great opportunity and great price!
VALUE PRICED!! AFFORDABLE! GREAT HOME! This 1528 sq.ft. One Level Ranch home boasts 3 Bedrooms/ 2.5 Baths.
Text R534743 to 52187
Text R501508 to 52187
Text R519874 to 52187
AC 7+ RE S!
EQ U ES EST TA RI TE AN !
BRAND NEW HOME & LOCATION, LOCATION, LOCATION!! This 1660 sq.ft ONE Level RANCH home is set on a nice 2 Acre lot (with NO RESTRICTIONS), and is located less than 10 minutes from the Chesterfield line!!
Equestrian perfection located in historic Amelia, VA. This 33 acre country estate has been established w/ the highest pride & offers not only the pristine grounds & horse facilities, but a 5400+ sq. ft. custom brick GRAND HOME!
GREAT LOCATION! CUSTOM home with FIVE bedrooms & a LARGE bonus room that could possibly serve as an additional bedroom! This home features HARDWOOD Floors, OPEN and inviting feel with all the modern LUXURIES you could want!
Welcome Home to ‘REDBUD DALE’ circa 1932! Come be ‘Wowed’ by the tasteful Renovation/Additions to this Vintage farmhouse! Boasting 4 Bedrooms (2 on the first level & 2 on the second level), & 3 FULL Baths, this home is sure to have plenty of room for everyone. The 2488 square ft. of LIVING SPACE features a LIVING ROOM w/Rich.
Text R463894 to 52187
Text R368362 to 52187
Text R243075 to 52187
www.commonwealthrealestateco.com
88728.25.12.002.Commonwealth.indd 1
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Please Say You Saw It In The Real Estate Book - Vol. 25, No. 12 - Page 3
Office (804) 717-5433(LIFE)
DAVID L. WILLIAMS JR. REALTOR® 804-690-1601
www.homeforliferealty.com Licensed in the Commonwealth of Virginia TEXT PROPERTY CODES TO 52187 FOR MORE PHOTOS & INFORMATION
ANGEL L. VELEZ REALTOR® US Army Retired, Hablo Español
910-578-6936
1311 High Point Avenue, Richmond, VA 23230
avelez@homeforliferealty.com
LENI TORRES REALTOR® 804-237-4084
LeniTorres1@gmail.com
SARAH CLARKE REALTOR® 804-338-3416
Henrico
Chesterfield
Richmond
AWESOME RANCHER in highly sought out Henrico area; spacious layout, 3 bedrooms, Florida Room, fire place; hardwood floors throughout with many upgrades. This won’t last long on the market. $249,000
NEWLY RENOVATED 4 BEDROOM HOME, gorgeous hardwood floors, large swimming pool, new stainless steel appliances and many more: A new home, without the new home sticker price! The competition does not stand a chance! $209,000
SPACIOUS 5,400SQFT ALL BRICK commercial Office building located in key business area, with private parking; 4 separate electric meters, spacious offices; historically revenue positive. $349,000
1601 Chesterfield - 5.08 Acres
Chesterfield - 5.13 Acres
Midlothian
CHESTERFIELD LAND OFFERED AT $79,900. Great location, Great Price, Great Piece of Land, Great Place to build a dream home. Sought after location! Won’t last long - better hurry!
5.13 ACRES OF WOODED LAND. Located in quiet rural neighborhood. Far enough out to be peaceful but close enough to be convenient. MLS:1717938 Adjoining 5.08 acres for sale also.
MIDLOTHIAN; PRISTINE 2016 built home located in the prestige subdivision of Collington, loaded with UPGRADES! Open floor plan offers office space, formal dining, gorgeous granite counter tops, subway tile back splash, a pantry and stainless steel appliances (all convey). $345,000
Certified Military Specialist • • • • • •
VA loans for our awesome military with $0 down! We are local & accountable to our community! Credit scores down to 580 on FHA, VA & USDA! Our rates will beat the banks and credit unions! Conventional loan with NO Mortgage Insurance! Expert in the industry with 27 years experience!
Protecting our country is stressful enough. Let me take the stress out of buying a home.
Kelly Clayton
Mobile: (804) 837-5626 (LOAN) Office: (804) 358-7929 Ext. 19 Kelly@Pro-mortgage.com
MortgageMortgage Loan Originator Loan Originator • NMLS •ID#: NMLS 233139 ID#: 233139
88728.25.12.003.HomeForLife.PMC.indd 1
Professional Mortgage Corp. Est. 1987 Professional Mortgage Corp. 1311 High Point Avenue • Richmond, VA 23230
NMLS ID#: 188666 (www.nmlsconsumeraccess.org)
10/18/17 5:02 PM
Page 4 - Please Say You Saw It In The Real Estate Book - Vol. 25, No. 12 9141 Washington Street Amelia Courthouse, VA 23002
804-561-1831 804-305-8852
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www.KellyCox.com IL JE T AM
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LL VI RS $329,000 - CUSTOM HOME ON 3+ ACRES!! 3 Classic Elevations - Just Make Your Pick HW Floors, Granite, Stainless Appliances MLS:1716810 Text R336224 to 52187
$124,900 - WELCOME TO PRIDESVILLE ROAD! Located within minutes of Amelia Courthouse 21+ acres that has been Meticulously Maintained Walking and/or Riding Trails A VDOT Installed Driveway Entrance! MLS:1716367 Text R331940 to 52187
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$59,000 - WHAT AN OPPORTUNITY!! Buildable Parcel in the Heart of the Courthouse Business Corridor Zoned B-1 for a Variety of Business Uses Water and Sewer are Available to the Site MLS:1712725 Text R297925 to 52187
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$65,900 - SO AFFORDABLE!! Low Maintenance, Singlewide w/Brick Exterior Quiet Wooded Lot, Covered Concrete Porch, Large Wood Deck, Storage Shed MLS:1732347 Text R530756 to 52187
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$129,000- RARE HARDWOOD ACREAGE! 41+ acres, Located in Central Amelia Blend of Pasture & Wooded Privacy Creek, Wildlife & Hunting Opportunities MLS:1735003 Text R559910 to 52187
$69,995 - PRIVATE LOT!! 15+ acre, Beautiful HARDWOOD Trees Long frontage on FLAT CREEK, Existing Driveway MLS:1726292 Text R459328 to 52187
CO A UR ME TH LIA OU SE
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$975,000 - RARE WATERFRONT PROPERTY! Well Located in Eastern Powhatan Long James River Frontage 193 AC total, 40+/- Open Land Significant Timber Value Fantastic Investment Opportunity MLS:1729931 Text R513526 to 52187
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$269,000 - ALL BRICK WATERFRONT HOME!! Stately 4 BDR/2 Updated BA, Fenced Pastures Private Pond, Landscaped, Freshly Painted, Brick FP, Custom Kitchen MLS:1720815 Text R379183 to 52187
SV ER
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Kelly Cox
Cox & Company
REAL ESTATE - INSURANCE
$42,500 - GREAT INVESTMENT! 19+ acre Building Site Ample Road Frontage,Creek MLS:1637951 Text R127606 to 52187
• Brokerage 88728.25.12.004.Cox.indd 1
$69,500 - CENTRALLY LOCATED!! 10 acres, NO Restrictions Open Land Surrounded by Wooded Buffers MLS:1735283 Text R559901 to 52187
• Appraisal
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$850,000 - JAMES RIVER FRONTAGE! 193 AC, 4+/- Ac Pond, Interior Road System, Excellent Hunting Fishing & Recreation Virtual Tour @ www.KELLYCOX.com MLS:1729959 Text R513528 to 52187
$42,500 -WELCOME TO THE BARDEN TRACT! 13+ acre Wooded Building Lot Existing driveway, Crested Building Site Towering Oak Trees, Nice Creek MLS:1724276 Text R433667 to 52187
• Insurance 10/18/17 5:01 PM
Please Say You Saw It In The Real Estate Book - Vol. 25, No. 12 - Page 5
SEARCHING FOR THE PERFECT HOME? LET THE ROCK RIVER HOMES DESIGN TEAM CREATE IT FOR YOU! HAVE A HOME CUSTOM BUILT ON YOUR LAND OR THEIRS IN MANY COUNTIES THROUGHOUT VIRGINIA.
Close to Chesterfield! BRAND NEW HOME! Ready for move in! Craftsman style 4 BEDROOMS, 2 BATHS ON 2 ACRES! Bright open floor plan with beautiful finishes such as WOOD FLOORS, TILE, GRANITE COUNTERS, STAINLESS APPLIANCES, CATHEDRAL CEILING, CRAFTSMAN TRIM, CRAFTSMAN STYLE interior doors, & MORE! Built ins and stone (gas) fireplace! Extend the enjoyment of your home to the outdoors with your LARGE COVERED FRONT PORCH AND SPACIOUS OPEN DECK! $294,900
Homes starting at $260,000 DEEP CREEK ESTATES II IN AMELIA COUNTY ONLY 2 MILES FROM THE CHESTERFIELD COUNTY LINE! ONLY 8 LOTS LEFT! CHOOSE YOUR LOT, CHOOSE YOUR HOUSE! Choose from Rock River Homes’ plans, bring your own plan, or let them design a home for you!
Shonda Morrissette Cell: 804 - 822 - 1816
1 Anderson Road • Richmond, Virginia 23228
88728.25.12.005.SMorrissette.indd 1
shondarealestate@gmail. com
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Page 6 - Please Say You Saw It In The Real Estate Book - Vol. 25, No. 12
CHESTER OFFICE 4830 West Hundred Road Chester, Virginia 23831
(804) 748-0177
Real Estate Company
E-mail chester@ingramhomes.com “SEE US ON THE WEB AT www.IngramHomes.com”
(804) 796-5757
OUR AGENTS MAKE THE DIFFERENCE! Licensed in the Commonwealth of Virginia.
CHESTERFIELD $164,000 3BR, 2.5BA townhouse features: open concept, great room, master w/bath, patio & fenced-in backyard. Ronnie Joswick 7123095 MLS:1732345 Text R527836 to 52187
CHESTER $168,000 Lovely building for your office, all on one floor, common area, conference room & plenty of parking. Cathy Drumheller 586-0168 MLS:1723633 Text R470865 to 52187
CHESTER $204,950 4BR, 2.5BA, freshly painted home features: great room, dining room, fencedin backyard and garage. Theresa Barlow 539-5509 MLS:1735691 Text R563855 to 52187
CHESTER $222,860 4BR, 2.5BA home w/new carpet, newer roof, AC, washer & dryer, formal rooms, Amish shed & large backyard. Patricia Dostie 541-0401 MLS:1722454 Text R409441 to 52187
CHESTER $263,900 4BR, 2.5BA home w/eat-in kitchen w/island, great room w/fp, formal dining room, screened-in porch & garage. Dana Black 691-3348 MLS:1726107 Text R476767 to 52187
CHESTER $368,500 3+Acres! 5BR, 3.5BA home w/ kitchen w/island, formal rooms, 1st floor master, basement, garage & coy pond. Ronnie Joswick 7123095 MLS:1721539 Text R393493 to 52187
Dianne
Kim
Stanley
Atkinson
Associate Broker, CRS, GRI, ABR, SFR
REALTOR®
(804) 513-2832
Licensed in the Commonwealth of VA.
(804) 512-2481
www.DStanleyRealtor.com Beautiful Custom-Built Entertainers Dream
Pool
BEAUTIFUL CUSTOM BUILT HOME ON HUGE LOT. Entertainers dream complete w/patio, outdoor kitchen and pool house with indoor kitchen, ½ bath, shower rm and Jacuzzi. IN ADDITION THERE IS A COMPLETE CONTRACTOR’S COMPLEX, everything you need to run a business. Call Dianne for a private showing of this extraordinary opportunity, 804-513-2832.
Text R501503 to 52187
Text R556063 to 52187
Text R327117 to 52187
HENRICO - Are You Looking Lots Of Space? Refreshed cape on a 1+/- Acre Lot has 3 bedrooms & 2 Full Baths!! Family Room has gas fireplace and recessed lighting. $205,000.
LOCATED ON A BEAUTIFUL PRIVATE 3.74 ACRE SETTING with 3 bedrooms, 3 full baths, morning room, finished downstairs with bedroom & laundry. $375,000. Call Dianne, 804-513-2832.
WATERFRONT RETREAT just minutes from the town of Tappahannock. Soak in the breathtaking sunrises and sunsets! There’s something for everyone to enjoy! Call Kim, 804-512-2481.
88728.25.12.006.Ingram.DStanley.indd 1
10/18/17 5:01 PM
Please Say You Saw It In The Real Estate Book - Vol. 25, No. 12 - Page 7
From Listed to Sold...
SOLD Nearly 5 acres in Farnham, not
far
Kilmarnock
from
Tappahanock,
and
!
PENDING
to sell your home, too! We’d love
Warsaw.
Looking to Buy a Home? We are ready to work for you. Give us a call today!
Surrounded by wooded area w/ cleared space just waiting for a home to be built. Call Ben Remo, (804) 512-4024. Text R428685 to 52187
Ben Remo Jim Remo 804-967-2776 REALTOR® Associate Broker
804-512-4024 Jim.Remo@JoynerFineProperties.com Ben.Remo@JoynerFineProperties.com
Jim Remo 804-967-27 JimAssociate Remo Broker Associate Broker
804-512-7413 Jim.Remo@JoynerFineProperties.co
Jim.Remo@JoynerFineProperties.com
Meadowville Landing James River Access JUST LISTED! Beautifully appointed & upgraded w/ 4 bdrms & 3.5 baths (incl. private master & guest ensuite). Features huge eat-in kit. w/ morning rm, butlers’ pantry, 2m, private office, formal rms, & foyer w/ aircase. Spacious laundry rm, mud rm w/ r garage. Hardwoods on 1st flr & 2nd flr sive trim package throughout. 3rd floor can be finished. $659,950.
Knollwood Meadowville Landing James River Access Atlee ACRE LOT! DutchJUST Colo-LISTED! Beautifully appointed & upgraded nial with hardwood 4 bdrms & 3.5 baths flooring throughoutw/most (incl. of the home & has justprivate master & over 2900 sq. ft. guest Fea-ensuite). Features huge eat-in kit. w/ morntures 4 bedrooms and rm, butlers’ pantry, 22.5 baths, formal ing rooms, story stove familyand rm,built-in privatebookcases, office, formal family room with wood sun rms, & foyer w/ curved staircase. laundry rm, mud rm w/ room w/ access grand to deck, walk-up attic, Spacious 2-car garage, 3-car garage. on 1st flr & 2nd flr paved driveway, access all on topark-like setting.Hardwoods Atlee High hallway, extensive trim package throughout. 3rd floor School district. Close to great shopping, dining, entertainunfinished $384,950 attic can be finished. $659,950. ment, and major interstates.
The Fan - New Price! 2-Car Garage! Wonderful character home with 3 bedrooms and 2 baths, tons of charm and boasts many original details. Master suite with balcony has view of private rear yard, ated eat-in kitchen, multiple fireplaces, off eat-in kitchen, lovely outdoor spaces, DUCED! $499,950
Financing Country Living Since 1916
family room with wood sto room w/ access to deck paved driveway, all on School district. Close to gr ment, and major interstate
The Fan - New Price! Rural Point - 2 Acres 2-Car Garage! New Price! character Beautiful country Wonderful home features modern home ameni-with 3 bedrooms 2 baths, tons of ties. 1st floor and master bedroom with charm hugeand boasts many original closet, formal rooms, a details. Master suite with balcony has modern eat-in kitchen of private rear yard, and family room. 2view more fabulous kitchen, multiple fireplaces, bedrooms and hall bath onrenovated 2nd floor.eat-in Oversized 1-car porch off eat-in detached garage, covered patio, and more. This kitchen, home is lovely filled outdoor spaces, and more! REDUCED! $499,950 with charm inside out! REDUCED! $265,000
The Experts in Rural Finance
bedrooms and hall bath detached garage, patio, a with charm inside and out!
Homes • Land • Construction • Livestock Barns • Outbuildings • Equipment
NMLS# 585525
800.777.8908 ColonialFarmCredit.com 88728.25.12.007.Remo.FarmCredit.indd 1
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Page 8 - Please Say You Saw It In The Real Estate Book - Vol. 25, No. 12
INFO 24/7
13332
Anne Thompson, REALTOR® • Multi-Million-Dollar Sales 1983-2017 Office: (804) 794-2150 • Home: (804) 560-2880 Cell: (804) 314-2880 • Toll Free: 1-800-448-3287
MIDLOTHIAN
INFO 24/7
11562
BASEMENT & GARAGE
Email: annethompson@comcast.net See tours and interior pictures on Web site: annekthompson.com RE/MAX Hall of Fame
INFO 24/7
WALTON PARK Beautifully updated and well kept 4 bedrm, 2 1/2 bath, 2000+ SQFT. Heat pump, newer paint, vinyl & Stainmaster carpet, oak floors in living & dining. Level, fenced back yard, 2 level deck & patio areas. Great school area $248,500 Call Anne 314-2880
INFO 24/7
13352
CALL: (804) 377-0777 then enter the corresponding 5 digits RE/MAX Commonwealth Each office independently owned and operated.
INFO 24/7
11622
BON AIR Spacious one owner home, mostly brick ranch w/new roof. 3 bedrm 2 1/2 bath, refinished oak floors, master w/2 closets & master bath. Foyer, living, dining + 25’ family room w/FP, eat-in kitchen w/all appliances, patio. $209,900 Call Anne 314-2880
INFO 24/7
11562
ONE-LEVEL LIVING
GLEN ALLEN RENOVATION
BON AIR
N. CHESTERFIELD CONVENIENCE 3 bedroom, 2 bath 1600+ SQFT Contemporary Ranch. Open vaulted ceiling greatroom & dining area. Large master w/full bath, kitchen w/all appliances & ceramic tile. Vinyl siding, wood floors under carpet, large deck, fenced yard, tool house. $199,900. Call Anne 314-2880
WEST END 3 bedrm 2 bath one level easy maintenance siding, new vinyl windows, 1379+/- SQFT. NEW kitchen w/new cabinets & SS appliances & greatroom. Renov baths, new carpet & ceramic tile, fresh paint, sunroom, deck, laundry room, tool house, fenced yard. $219,500. Call Anne 314-2880
EDGEHILL TOWNHOUSE Offers easy maintenance w/no yard work! Very private 2 bedroom, 2 1/2 bath, updated eat-in kitchen w/gas cooking & all appliances plus washer & dryer! Dining room, living room w/FP & glass doors to deck overlooking the woods and creek. Gas Heat/CA $144,500 Call Anne 314-2880
Allegiance Property Management & Sales 2600 Pocahontas Trail Quinton, VA 23141
Licensed in the Commonwealth of Virginia
Joanne Panek
REALTOR® ABR, ASP, CDPE, CIAS, CRS, GRI, MRP, SFR, SRES,e-PRO
(804)-399-4495 JoannePanek@gmail.com
www.JoannePanek.com
Summer Cottage - Rappahannock River
Convenient - New Hanover Schools
Walk to the sandy beach front on the Rappahannock River. Summer cottage or can be lived in all year. White cabinets, new laminate flooring, office, screen porch & storage shed.$159,000 Call Joanne Panek for more information, 804-399-4495.
Large cape 4BR, LR, kitchen, office, 2 1/2 baths, utility rm, storage shed situated on over an acre directly across from the Hanover Heritage Equestrian Center. Convenient location - New Hanover Schools. $268,000 Call Joanne Panek for more information, 804-399-4495.
88728.25.12.008.AnneThompson.JPanek.indd 1
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HOW TO BUY A HOME IN A TIGHT MARKET W
e all know the equation: low inventory means higher prices. Also known as a tight market, this setting can be stressful for buyers, who are trying to snap up their dream home yet keep running into competition. Attempting to purchase a house in this type of market can make the already complex process of buying a home even more overwhelming. The following five tips can help buyers successfully get through the buying process in a tight inventory market:
yard, those cannot be addressed later and must be taken into account during the house hunting process. BE READY TO MAKE A DECISION QUICKLY. In a seller’s market, homes rarely stay on the market long, so when a house that is in their budget and checks off all of their needs come along, buyers should not hesitate. Buyers should be ready to submit an offer quickly, or they may risk missing out on the home altogether.
DETERMINE & STICK TO A BUDGET. Before beginning the house hunting process, prospective homebuyers should receive loan preapproval from one or more lenders to verify how much they can borrow. Then, after taking into account additional costs of ownership such as taxes, utilities and insurance, buyers should determine a final budget they can comfortably afford. When listings are scarce, bidding wars can drive up prices, so buyers must be prepared to walk away if the asking price surpasses their budget.
BID COMPETITIVELY AND LIMIT CONTINGENCIES. It is tempting to submit a low offer as a starting bid, but in a seller’s market buyers need to put forward their highest offer from the very beginning or they are likely to lose out on the home. It is also important to remember that in multiple bidding situations it is not always the highest offer that is most attractive to the seller but the one with the fewest contingencies. Removing restrictions related to the sale of a current home and being flexible with things like the move-in date can make a bid stand out to a seller.
IDENTIFY DESIRED NEIGHBORHOODS AND HOME WANTS VERSUS NEEDS. When housing inventory is tight, buyers may need to compromise on what they believe they want from a home. Certain wants, such as stainless steel appliances or hardwood floors, can be added later. However, if a buyer wants to be in a specific school district or have a decent sized back-
WORK WITH A REALTOR®. All real estate is local, so it is important to work with an agent who is a Realtor®, a member of the National Association of Realtors®, and who is familiar with the areas and neighborhoods the homebuyers are considering. They can give buyers the competitive advantage needed in a tight market.
The Basics of Buying Investment Properties By Kenneth D. Rosen Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com.
E
veryone wants a magic and immediate path to wealth. The bad news? The path doesn’t exist. Wealth is attainable through more conventional means. If you come to understand the real estate industry and if you deepen your own firsthand experience as you buy and sell investment properties, you’ll be on the road to success. Along the road, there are six core principles that will make or break each real estate investment deal. They are the most important concepts you will learn. I call them the Big Six. With each successive deal I negotiated, I grew to recognize the common elements. The Big Six are part of a sequenced step-by-step formula that enables you to identify and purchase the right income property at the right price. The elements of the Big Six Formula that will guide you into the basics of buying income properties are the following:
1. Location
Location is the single most important component of any real estate deal. It is crucial in determining your investment success. Look for properties that are situated in an “A” location. Such locations include the socioeconomic levels of the people who live or work in a particular neighborhood, its proximity to shopping centers, public transportation, crime levels, the nearness of prestigious universities and medical facilities, traffic congestion, zoning restrictions, the quality of schools, fire and police protection, and even the reputation of the local government and its officials.
2. Building Quality & Design Efficiency
Design efficiency interfaces with building quality. When you find an investment property you’d like to buy, you will need to scrutinize both elements. Look for properties that far exceed minimum construction requirements and that have useful and innovative design elements. This will not only make the property attractive to tenants but will add value to the property in the future. Design features on apartment complexes that stand the test of time include walk-in closets, large kitchens with windows, and his-andher bathrooms. In an office building, a common area factor of 15 percent is desirable as well as a ratio of four parking spaces for every 1,000 square feet of rentable space.
3. Tenant Profile
Tenants can represent either an asset or a liability in an in-
vestment. When you invest, your mission is to make sure your tenant profile is the former and not the latter. Just as you want a well-constructed and well-designed property, you’ll want stable tenants who are a good match for your property and have appropriate lease agreements. Find out how much rent is generated and whether it is at market rate or under market. You want to focus on finding an income property that offers the opportunity to increase rental income and, by doing so, multiply the value of the property so that you can resell it at a substantial profit.
get started, you’ll need to get a number of finance-related items in order. The first thing you should do before applying for a mortgage loan is to review your credit reports and your credit scores. Also, learn the terms, understand the components of a mortgage and how they interact, and be open to the full range of financing options available. Banks and other financial institutions make money from mortgages. They are willing to negotiate. Be creative—you may be surprised at the terms you’re able to obtain from a bank or insurance companies, especially in today’s low interest rate environment.
4. Upside
6. Price
This fourth element refers to the cash flow growth possibilities offered by a particular property along with the likelihood that the property will increase in value. A property may cost $1,500,000 to construct, but if it brings in only the income of a $900,000 property, then it is worth only $900,000. The key to increasing value lies in buying a solid Class B property in an “A” location where the rents are under the market, the leases are short term, and there are no options to renew the leases.
5. Financing
In the musical Cabaret, there is a song with the lyrics, “Money makes the world go around.” It could just as easily be used to describe real estate’s role in the economic landscape. The free flow of money and access to credit is what adds vibrancy to property investment. Before you
The successful evaluation of a property’s price has more to do with how much information you can gather about a seller and the property than it does about the price tag on the real estate deal. You must look at the value of the property, which is not the same thing as its price. The crucial concern is not just how much the property costs, but what kind of income it can generate for you. A property may be architecturally perfect and engineeringly sound, but if you’re locked into long-term, under-market lease rates, the value will be eroded. If you master these principles, wealth will be within reach. However, it’s not enough to just understand and utilize the Big Six. You must execute them in order. That’s because they all fit together snugly to form your customized real estate formula.
How to Decorate Your Home for Fall Fall is one of the best seasons for decorating your home in a tasteful way that’s both festive and functional. Some of the most popular fall decorating themes include pumpkins, gourds, fall foliage, and pinecones to name a few. It’s time to say goodbye to summer and welcome the changing of seasons by adding a few cozy touches around your house with these tips.
1
Refresh Your Front Door: Maximize your curb appeal by adding piles of pumpkins and gourds to create a cheery look. Get creative by painting your house numbers onto one of the larger pumpkins, or throw in some potted croton and mums to your décor to complete the look. For a finishing touch, place a fall-themed wreath on the door.
2
Warm Things Up: With cooler temperatures creeping in, give your open spaces a snug feel by swapping out your lightweight pillows and linens. Instead of cotton and linen, opt for velvet or burlap materials in darker colors. Add a few throw blankets into the mix, and you’ll be ready to welcome guests for nights spent by the fire.
3
Add Fall Flowers: Just because summer is over doesn’t mean that flowers have to go along with it. If you’re looking to brighten up your home, there’s no easier way than to do so with flowers. Sunflowers and alstromeria are both great choices because they both last for about a week. Remove all leaves below the water line and change your water every few days in order to keep your blooms fresh.
4
Add a Rocking Chair: Pair a rocking chair with a plaid blanket outside on the porch for the ultimate fall look. All that you’ll be missing after that is a cup of pumpkin flavored coffee.
5
Bring Outside In: Fall leaves are ideal for sprinkling on the mantle or for pressing onto wax paper during an afternoon of crafts. Use backyard leaves to create streamers for fall-themed parties, or frame them for artwork around the house. The options are endless!
6
Turn on the Fire: Fireplaces take the center stage when it comes to the fall season. If you have a wood fireplace, now is the time to make sure that you have enough firewood for the rest of the season. If you’re using gas, don’t forget to turn it off when you leave to go somewhere. Nonetheless, a roaring fire paired with a comfy sofa and views of the changing leaves creates the perfect fall setup.
Please Say You Saw It In The Real Estate Book - Vol. 25, No. 12 - Page 9
Bryan Turner • (804) 426-3600 $1,475,000
$599,950
$356,000
JAMES RIVER WATERFRONT Builders Personal Home of Uncompromising Quality! Nothing else like it near this price in the area! A must see! Call for your personal showing before it is gone!
UNBEATABLE OPPORTUNITY IN GINTER PARK! This one has it all and is move in ready!! You must see it to truly appreciate everything this property has to offer!! Only $599,950!
THIS 4512SF, 2010 BUILT LOW MAINTENANCE HOME features 5 bedrooms, 4.5 baths, 2 car attached garage and so much more! Previously marketed at $550k! HUD Owned.
$310,000
$286,000
$275,000
THIS 2636SF HOME ONLY MINUTES TO SHORT PUMP features 4 bedrooms, 2.5 baths, updated kitchen with granite, over half an acre lot and so much more! Previously sold at $386k! HUD Owned.
THIS 3451SF, 2008 BUILT LOW MAINTENANCE HOME features 4 bedrooms, 3.5 baths, 2 car attached garage and so much more! Previously sold at $362k! HUD Owned.
UNBEATABLE OPPORTUNITY IN WALTON PARK!!! Call right away!!! This one has far too much to list here!!!
$272,000
$242,000
$216,000
THIS 3054SF, 2006 BUILT TRANSITIONAL HOME features 6 bedrooms, 3 baths, gas fireplace, 2 car attached garage and so much more! Previously marketed at $379,950! HUD Owned.
THIS 2142SF, 2008 BUILT LOW MAINTENANCE ONE LEVEL LIVING HOME features 4 bedrooms, 2 baths, 2 car attached garage and so much more! Previously sold at $280,699! HUD Owned.
THIS 2262SF, BRICK STRATFORD HILLS HOME features 3 bedrooms, 2.5 baths, 1 car attached garage on a .63ac lot and so much more! Previously marketed at $325k! HUD Owned.
$214,000
$145,000
Looking For A HUD or Foreclosure Property?
Call the Expert!
THIS 2104SF, 2008 BUILT LOW MAINTENANCE HOME features 4 bedrooms, 2.5 baths, 2 car attached garage and so much more! Previously sold at $260,077! HUD Owned.
THIS 1540SF, 1988 BUILT LOW MAINTENANCE HOME features 3 bedrooms, 2 baths, and so much more! Previously marketed at $189,950! HUD Owned
Bryan Turner, 804-426-3600
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ATTENTION HOME BUYERS! Let My 26 Years Experience Help You Find The Perfect Home Any Price Range
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Page 10 - Please Say You Saw It In The Real Estate Book - Vol. 25, No. 12
ON THE COVER & RealEstateBook.com • LOCAL PRINT • WEB & MOBILE • SOCIAL • DIRECT MAIL Scan QR Code to shop homes from your mobile phone!
STAND OUT & GET RESULTS with Multimedia Marketing Packages for Real Estate Professionals For advertising information in The Real Estate Book® of Richmond, VA Feat. Richmond City & Chesterfield, Powhatan, Hanover, Henrico & Goochland Counties
Dave Osgood Cell: 804-216-7776 Email: dosgood.treb@gmail.com LUXURY LIVING IN HALLSLEY’S FINEST NEIGHBORHOOD! Experience Superior Quality with this Custom Built 7 BR/6.5 BA home. Features to include a Full Daylight Basement with a Full Bar and Kitchen, Resort style pool, Extensive Molding, Thermador Appliances and a Master Suite that will knock your socks off! Your Dream Home awaits! This one is fully equipped to accommodate all of the items on your wish list! Move in Ready... No build time waiting! Get more photos and details instantly, Text R563824 to 52187.
Matt Cullather REALTOR®
(804)301-6288 MCullather@Gohtr.com www.mattcullather.com
88728.25.12.010.Masthead.indd 1
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Request a FREE MAGAZINE from any market across North America at 1-800-841-3401. Facebook.com/RealEstateBook Twitter.com/RealEstateBook Blog.RealEstateBook.com 2305 Newpoint Parkway Lawrenceville, GA 30043 770-962-7220 NewPointMediaGroup.com “All real estate advertised herein is subject to the Federal Fair Housing Act which makes it illegal to advertise any preference, limitations, or discrimination based on race, color, religion, sex, handicap, familial status, or national origin, or intention to make any such preferences, limitation, or discrimination. We will not knowingly accept any advertising for real estate which is in violation of the law. All persons are hereby informed that all dwellings advertised are available on an equal opportunity basis.”
10/18/17 4:59 PM
Please Say You Saw It In The Real Estate Book - Vol. 25, No. 12 - Page 11
PO Box 98, Hayes, VA 23072 Licensed in the State of VA
Deborah Rhodes 804-387-0000 deborahsrhodes@aol.com www.victoryrhodesrealty.com
COME SETTLE IN THIS SPACIOUS HOME IN MIDDLESEX COUNTY. Spacious home with detached garage on 7.21 acres. Settle in before the holidays!!! $249,900 Deborah. 804-387-0000
PO Box 98, Hayes, VA 23072 Licensed in the State of VA
Deborah Rhodes 804-387-0000 deborahsrhodes@aol.com www.victoryrhodesrealty.com
HANOVER - Lovely colonial home with garage and huge back porch. 4 Bedrooms, 2 1/2 Baths, 2370 square feet, $280,000. For more photos and information on this property Text R494883 to 52187 or call Deborah 804-387-0000.
579 Southlake Blvd., Southport Office Park Richmond, VA 23236-3042
Licensed in the Commonwealth of Virginia
Joanne Cash REALTOR® - Broker 804-378-7000 Realtrcash@aol.com
BON AIR (CHESTERFIELD COUNTY) Charming 3 BR, 2 1/2 bath Cape Cod, situated on lrg landscaped, CulDe-Sac lot. Large great rm w/FP and built-in bookcases, HUGE dining rm and eat-in kitchen, Central Air and Heat Pump. $229,950 Call Joanne, 804-378-7000.
GREAT OPPORTUNITY TO DO A RENOVATION! Sold “as is” all cash. Could be 3-4 bedrooms, Great Room, dining area. Central air. $99,950. Call Joanne for more information, 804-378-7000.
Distinctive Properties of Virginia 1108-E Westbriar Dr. Henrico, VA 23238
Licensed in the Commonwealth of Virginia
Carolyn Craig GRI, REALTOR® 804-586-8253 distinctpro@outlook.com
CAN BE RENTED FOR $2,300 PER MONTH. HENRICO COUNTY - 5 Bedrooms, 3 Full Baths, Formal Living Room and Dining Room, Large Great Room, Screen Porch, Patio, Hot Tub, Kitchen has Granite Countertops, Marble Backsplash, and Eat in Area, Two Car Attached Garage, over a half acre lot. $299,500 Home is also available for rent. For more information and photos Text R410460 to 52187.
14361 Sommerville Ct Midlothian, VA 23113
Licensed in the Commonwealth of Virginia
Susan Coleman, REALTOR®, GRI (804) 334-3165 susan.coleman@napierera.com www.SusanColemanSells.com
COSBY HIGH SCHOOL - Over 2100 sq.ft with 4 bedrooms PLUS an office. New paint, carpet & laminate floors. Gas fireplace in the Family Room, Stainless appliances & ceramic in the Kitchen. Private back yard w/ huge deck & privacy fence. This one is move-in ready! $249,900 Ashbrook Get more photos and details instantly Text R567132 to 52187.
Joyner Fine Properties 2727 Enterprise Pkwy. Richmond, Va. 23294
Licensed in The Commonwealth of Virginia
Newton Carroll REALTOR® (804) 439-3813 www.richmondvahouses.com
88728.25.12.011.StripAds.indd 1
MAKE COMING HOME A VACATION, EVERY DAY. Beautiful home in Colonial Beach, with a great view of The Potomac River, convenient to Richmond, Fredricksburg, D.C. and Maryland. This home is a must see. Lots of space, very bright, quite, peaceful and with a wonderful view. Master Suite includes a great bathroom and a screened in side porch. Upper level includes 2 additional bedrooms. Get more photos and details instantly, Text R573482 to 52187.
10/18/17 4:58 PM
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Page 14 - Please Say You Saw It In The Real Estate Book - Vol. 25, No. 12
Lee & Gene Reams
$305,000
REALTOR
(804) 647-7653
reamsrealtors@gmail.com Licensed to Sell Real Estate in Virginia
BEAUTIFUL WOODLAKE! Four bdrms, 2.5 Baths, Large eat in kitchen w/ new floor, New appliances, Granite counter tops, DR, LR, and family rm w/ gas FP. Wonderful Woodlake subdivision offering beautiful entrance to your neighborhood, walking & jogging paths, pools, tennis and club house. Conveniently located to stores, restaurants, and schools. Call Lee & Gene Reams for a private showing or Get more photos and details instantly Text R566066 to 52187.
www.reamsrealtors.com
Lee Conner Realty and Associates, Inc. www.leeconnerrealty.com
309 E. Williamsburg Road Sandston, VA 23150 Office: (804) 737-6058 Dean Cobb REALTOR
®
Let 45 Years of Service Work for You.
GREAT STARTER HOME, 3 bedrooms, 1 1/2 baths, large great room, 12x19 deck, 2 car carport, asphalt driveway, rear fenced yard, tool shed with electricity. MLS:1735471 Text R559903 to 52187
HENRICO - VA 3 BEDROOMS - 2 Full Bath(s)0 Half Bath(s) - 0 Three-Quarter Bath(s) - $197950 USD - Call Dean Cobb - - MLS# 1716650 MLS:1716650 Text R336219 to 52187
ZONED B3, BRICK CAPE, 6.983 Acres, unfinished upstairs, Detached Garage, Screened front porch 10x15. MLS:1735466 Text R559906 to 52187
RANCHER, 3 BEDROOM, 2 BATH, HUGE GREAT ROOM WITH BAR TO KITCHEN, LARGE LOT, LOW MAINTENANCE. $139,950.00 CALL DEAN COBB 804737-6058. MLS:1735628 Text R560025 to 52187
RANCHER, 3 BEDROOMS, 2 BATHS, GREAT ROOM WITH BAR, FORMAL DINING ROOM, VAULTED CEILINGS,LOW MAINTENANCE $149,950.00 CALL DEAN COBB 804-7376058. MLS:1735637 Text R560010 to 52187
VARINA LOTS
10 ACRES- $65,000.00 4 ACRES- $55,000.00 3 ACRES- $55,000.00 CALL DEAN COBB 804-737-6058
88728.25.12.014.Reams.Filler.DCobb.indd 1
10/18/17 8:38 PM
Please Say You Saw It In The Real Estate Book - Vol. 25, No. 12 - Page 15
Hallsley
Hallsley
Woodland Pond
7 Bedrooms, 6 1/2 Baths, 6021 square feet. Get more photos and details instantly, Text R563824 to 52187.
5 Bedrooms, 2 1/2 Baths, 3594 square feet. Get more photos and details instantly, Text R537976 to 52187.
5 Bedrooms, 4 Full Baths, 3457 square feet. Get more photos and details instantly, Text R537954 to 52187.
………………… $1,295,000
……………………$589,900.
…………………… $545,900
The Highlands!
The Pepperdine
Woodland Pond
6 Bedrooms, 3 Full Baths, 2 Half Baths, 5291 square feet. Get more photos and details instantly, Text R537971 to 52187.
4 Bedrooms, 3 1/2 Baths, 2898 square feet. Get more photos and details instantly, Text R537949 to 52187.
4 Bedrooms, 2 1/2 Baths, 3509 square feet. Get more photos and details instantly, Text R537970 to 52187.
The Highlands!
Qualla Farms
The Highlands!
4 Bedrooms, 2 Full Baths, 2 Half Baths, 3144 sq ft. Get more photos and details instantly, Text R569150 to 52187.
5 Bedrooms, 2 1/2 Baths, 3816 square feet. Get more photos and details instantly, Text R547703 to 52187.
4 Bedrooms, 2 1/2 Baths, 2334 square feet. Get more photos and details instantly, Text R556065 to 52187.
…………………… $494,950
…………………… $350,000
…………………… $465,950
…………………… $332,999
Matt Cullather
…………………… $439,500
…………………… $324,950
REALTOR®
(804)301-6288 MCullather@Gohtr.com www.mattcullather.com 88728.25.12.015.Cullather.indd 1
Chesterfield Office
10001 Courtview Lane Chesterfield, VA 23832 Licensed in the Commonwealth of Virginia
10/18/17 4:57 PM
Page 16 - Please Say You Saw It In The Real Estate Book - Vol. 25, No. 12 Text R2381 to 52187
Joann Criss
Text R331917 to 52187
BROKER
804-337-8990 Owner Agent 2 3 5 2 B ranch w ay C ree k D r . Branchway Springs - Building Lot Goodwin Lumber Lake - Hardwood Trees, 5.3 Acres, wide water frontage approximately 800 Sq.Ft. $250,000 Limited Water Front in This Area For A Price Like This! Call Joann Criss, 804-337-8990.
Consult a Professional We still make HOUSE calls joanncriss.rep@gmail.com Fax: 272-8601
Owner Agent HISTORIC ‘’OLD MANCHESTER’’ 1300 PORTER STREET IS AVAILABLE FOR SALE! All 4 Apartments are leased, (100% Occupancy). Vacancies are filled quickly. This property doesn’t have to remain a 4-Family home, you can also re-vamp the entire building, (as Commercial). $500,000 Call Joann, 804-337-8990.
Great Neighborhood! 9925 Warson Court Family oriented. Fresh Paint and new Carpet installed. Fireplace with built in shelving on both sides, plenty of storage throughout this lovely home. Seller Will pay $3000.00 of Purchasers Pre Paid Points and/or Closing. Community park with playground, boating, fishing, and more. $169,600 For more photos and information instantly, Text R494880 to 52187. Call Joann Criss, 804-337-8990.
1224 Westover Gardens Contemporary home w/ an upstairs master suite with, master bath, sliding glass doors with possibility of private deck, hot tub, or quaint space for morning relaxation. A Frame great rm with over 25’ ceiling and a circular fireplace. Head downstairs and walk into large family rm, open concept kitchen, full bath and two more bdrms. Access garage through laundry room to see your two car garage. Seller will contribute $2000 towards closing costs. $223,600 Call Joann Criss, 804-337-8990.Text R567748 to 52187
MEADOWBROOK/CHESTERFIELD 5018 Grassmere Rd This beautifully renovated 4 bedroom/3 bath home is less than 2 blocks from Meadowbrook Country Club! Home has MODERN FLAIR and is ready for you to move in. A lot of attention to detail. Great area. $259,900 Call Joann Criss, 804-337-8990 for your personal preview! Get more photos and details instantly, Text R428752 to 52187.
3628 Echoway Road Beautiful 2100 square foot ranch style home with 3-4 bedrooms. Owner occupied. Brick and wood exterior. Spacious and open along with extra wide doorways. Chesterfield public schools. Brick fireplace rises to the ceiling along with 3 full bathrooms. Spacious home on a corner lot. 2 car oversized garage - A mans dream. $199,000 Call Joann Criss, 804-337-8990. Get more photos and details instantly,Text R569151 to 52187
88728.25.12.016.JoannCriss.indd 1
10/18/17 4:56 PM
Create Privacy, Divided Zones. Escape the hustle and bustle while making a space feel more intimate with the use of barriers like large plants or trees, a pergola, or privacy panels. Designing distinct spaces with divided zones helps create the feel of a secluded getaway and gives each area purpose. Design for All the Senses. The best spaces are those that delight all the senses. In addition to designing a comfortable, beautiful space, consider adding outdoor speakers for music that sets the mood, or a water feature that eliminates street noise. Relax and enjoy the delicious smell of grilling or the experience of roasting marshmallows over an open flame. Consider adding fragrant bushes to fill the night with a sweet scent. Get creative.
Are you looking to get more out of your outdoor spaces? Dreaming of days spent lounging al fresco with friends and family? You’re far from alone. “The research shows the most loved areas of the home combine relaxation, socialization and functionality,” says Stephen Schroeter, Napoleon Products senior vice president of Sales and Marketing. “Outdoor spaces provide a great opportunity to accommodate all three, yet they are still vastly underutilized by most homeowners.” He has some top tips for creating the dream outdoor oasis: Add an Outdoor Kitchen. Outdoor kitchens are growing in popularity, and for good reason. Not only do they meet a basic need, but they do so in a fun, engaging atmosphere. No one wants to be stuck inside preparing a meal when the party is out under the sun—or stars. The showpiece of every great outdoor kitchen is a quality, professional grill, either freestanding or built-in. Other culinary considerations include outdoor refrigerators or coolers to keep beverages cold and flowing freely, pizza ovens, and sinks for easy clean-up. Establish a Gathering Place. One of the most important features of an outdoor space is an area for socialization. A central location with a variety of seating options creates a welcoming atmosphere. Consider a built-in fireplace or a fire pit to provide a focal point and enable the space to be used later into the season.
Add Accents. Small touches can go a long way. Homeowners can personalize a space with items that define their style and personality or focus on a fun theme. Don’t be afraid to add bold pops of color—an outdoor living area is a great place to explore a more adventurous design than you might consider inside the home.
HOME SAFETY: BEST PL AC E S TO P U T S E CU R I TY CAMER AS
If
you’ve decided to put up security cameras for your home for the first time or are considering widening your safety net, knowing the proper way to place and angle your cameras is vital to keeping your home as safe as it can be. Not only can proper camera placement catch important details of possible crimes in your area, simply placing them properly can deter a crime from happening in the first place. The most important factor in judging where to place a camera is simple: Your home is your home. You know what the layout is, you know where the most important rooms are, and you may be in the unfortunate position of knowing how someone entered your home without your permission in the past. Before you begin placing any equipment, consider some basic questions about your home’s surveillance needs. Some questions to consider include:
• What parts of your home are you most concerned about? • If someone has broken into your home before, even before you owned it, where did that occur? • Are there any spots on my property that aren’t plainly visible to the street or my neighbors? • Do you need to keep any local camera placement laws in mind? Though you may come to a variety of conclusions and potential diagrams for your home security systems, consider the usual entry points for potential burglars when casing a home. Knowing the most common routes of entry can take a large portion of the workload off of you simply by observing recorded statistics. With over 80 percent of burglars
entering a home through the first floor, whether through door or window, it’s especially important to keep the entirety of your property’s entryways covered. At the same time, trying to cover low locales, such as your doors and windows, may leave cameras in easy reach of criminals, thus completely negating their usefulness. If you find you have a lack of safe places to place a camera, consider looking into protective caging for your equipment to protect it from being knocked out of order while you aren’t looking. This is also a good time to contemplate what special tools you may need to complete your installation, so ensure you check your camera system to see its recommended outfitting requirements that might need special preparations. While losing a camera can mean losing important evidence to help identify vandals or thieves, there are clever ways to keep yourself safe that might goad a criminal into making a misstep. Placing a dummy camera in obvious sight not only deters crime by showing you keep your home under tight watch; it also gives an easy target to a potential burglar that can distract them from hidden cameras that catch them in the act. As an added bonus, dummy cameras are far cheaper to replace than expensive professional models. Most importantly, you must consider the features of each camera when placing it. Cameras cannot focus on multiple ranges and angles at once, so if you want to catch a trespasser’s face on video, mounting your camera up too high can miss their distinctive features, but a raised camera may have a better time picking up a car’s license plate when placed overlooking your driveway. In the end, even poorly-placed cameras will offer better home security than not having any at all, but there’s no reason to leave proper home security to chance. Knowing how to place your first line of defense can keep you safe before and after any crime, and knowledge is always your best weapon.
The ABC’s of Flood Insurance BY B A R B A R A P RO N I N
Many home buyers are surprised to learn that while most standard homeowner’s insurance policies may cover water damage caused by a burst pipe within the home, they may not cover damage caused by an overflowing river. Because only a few inches of flood water can cause tens of thousands of dollars in damage, some lenders may require the purchase of flood insurance before closing – even if the property in question is not in a high-risk area. Lender requirements in this regard are communicated in their instructions to escrow when loan documents are issued. Who determines whether, or how much, flood insurance is required? What do agents and their clients need to know? The answers are as simple as ABC:
A
B
C
WHO MUST HAVE IT?
WHO SELLS IT AND HOW MUCH DOES IT COST?
WHAT DOES IT COVER?
With assistance from the U.S. Army Corps of Engineers and local flood control authorities, the Federal Emergency Management Agency (FEMA) maintains flood insurance rate maps for communities nationwide. The maps are divided into flood zones denoting high, moderate or low risk of flooding. It makes sense that mortgage lenders require flood insurance for coastal homes or homes in other high-risk areas. But historically, says the National Flood Insurance Program (NFIP), about one in every four flood claims comes from moderate or low-risk areas, where federal law does not require insurance. Hence, many lenders may require flood insurance in all flood zones, regardless of risk, especially for federally regulated or insured (such as FHA) loans.
The NFIP, managed by FEMA, offers flood insurance to homeowners in participating communities, and provides small discounts to communities that take steps to mitigate flood risk. The actual policies are sold not by FEMA, but by private insurance companies. Since NFIP coverage tops out at $350,000 for one’s home and possessions (see C, below), ‘excess flood insurance’ may be purchased to cover claims above the NFIP limits. In many regions, state flood insurance plans offer perks such as a 15-day waiting period before coverage kicks in, as opposed to 30-days with NFIP plans. The cost is determined by such factors as the level of flood risk and the estimated cost to rebuild. While flood insurance premiums are government-regulated, homeowners can retain some control over their cost by varying the deductible amount.
Flood insurance generally covers direct losses caused by flood waters, but actual coverages will vary based on the specific facts of the incident and the provisions and exclusions in the applicable insurance policy. The maximum insurance amount allowed by law is $250,000 for the structure. (While people tend to associate floods with total loss, the average flood claim is about $30,000, according to NFIP.) Contents coverage for furnishings of up to $100,000 is optional. However, neither building nor contents flood insurance will most likely cover the loss of certain personal property (such as currency) or living expenses such as temporary housing while the home is being repaired.
Please Say You Saw It In The Real Estate Book - Vol. 25, No. 12 - Page 17
$5 0, 60 0
Benita Norman REALTORÂŽ (804)339-6529 Mobile benita@warriorrealty.com www.benitanorman.com
3.6 ACRES
BUILDING LOT HOUSE SITE cleared electric on site; soil work available. The property is well flagged all four corners are marked with concrete pillars road frontage on River Road West and Ransone Road and driveways are in place. Seller will remove Port-O-Johns and all poles w/mercury lights - site was previously used for turkey shoots and family gatherings.
Selling the American Dream!
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Licensed in the State of VA
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(804) 730-4046
4795-D Bethlehem Rd Richmond, VA 23230
TEXT R556995 TO 85377
THIS FAMILY BUILT UNIQUE ONE OF A KIND HOME WAS BUILT BY THE FOGG FAMILY IN 1945 three generations have lived in this home which is fully functional but does need exterior TLC. The home offers 3/4 bedrooms, 1 full bath on main floor, eat-in kitchen, laundry/mudroom with hardwood floors throughout, pine ceiling and walls, interior front/rear staircases, metal roof, several balconies and dual front porches and detached shed all on 2.267 acres the views are amazing.
This home is truly outstanding, come see for yourself!
Kitchen - Dining Area
View From the Deck
Text R569722 to 52187 Open Concept
Master Bathroom
Family Room
THIS HOME HAS IT ALL. Come see this immaculately kept home featuring 2 large FULL master suites-one up and one down-both master suites are large and feature walk in closets-stand up showers-soaking tubs and double vanities. Formal dining rm w/tray ceiling-private office w/french doors, family rm off of the open eat in kitchen. 4 full BRs upstairs. Detached shed is HUGE and features a covered porch for grilling and enjoying the fresh vegetables grown in your large fenced garden. Lastly, you will be secure in knowing you will always have power with the whole-house generator in place. Virtual Tour @ www.tourfactory.com/1876053
Teelo Rutledge 804-730-4046
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A Virginia Real Estate Company 4795-D BETHLEHEM RD RICHMOND VA 23230 Licensed to Sell Real Estate in Virginia
10/18/17 4:56 PM
FREE Home Warranty or Home Inspection!
Mention this ad and receive either a free home warranty or home inspection value up to $500 when using a Dalton Realty Agent*
FOR MORE PHOTOS & INFO Text R417383 to 52187
Where Experience & Customer Service Come Together
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This ranch home is located on a very private lot in the gated community of Lake Land or. Very open feeling. 3 BRs, 2 Full Baths, 1848 sq ft. The community itself offers lake, camping & pool access for added enjoyment. Call Steve Dalton, 804-8406926. $214,950.
FOR SALE (804) 723-5750 WHERE EXPERIENCE AND CUSTOMER SERVICE COME TOGETHER
DALTON REALTY
www.DaltonRealty.net
8052 Elm Drive Suite G, 2nd Floor Mechanicsville, VA 23111
Licensed in the Commonwealth of Virginia * Subject to the sale & settlement of the property/transaction.
10/18/17 4:55 PM
SEARCH FOR YOUR NEXT HOME ON THE GO! Whether you’re driving around, flipping through magazines or searching online, it’s now easier than ever to find your dream home.
Text the code listed on the sign rider or in the magazine to 52187. You’ll immediately receive a response that links to more photos and property details, all of which can be viewed from your mobile device.
The Real Estate Book makes it simple and convenient to interact with your favorite listings and connect with qualified real estate agents.
TRY IT TODAY! 16P1669_NPMG_TREB_TextCodesFlyer_Digest_V2.indd 1
12/7/16 10:36 AM
Page 20 - Please Say You Saw It In The Real Estate Book - Vol. 25, No. 12
A Guide to Good Homeowner’s Insurance
There are many things we look forward to when purchasing a new home. However, there is definitely one thing we can all agree that we don’t get amped to shop for: homeowner’s insurance. What may seem like a grueling process does not have to live up to its reputation. As a matter of fact, learning these starter tips and facts may help you get signed up for what can be a financially sound decision. Don’t Skimp on Shopping With so many options out there, it would be a shame to miss out on a good deal solely in an attempt to “get it over with”. There are many different homeowner’s insurance providers out there competing for your business. A good starting point is your vehicle’s insurance provider. Several companies offer multiple policy discounts. The more policies that are held with a company, often times there are more discounts to be had.
Keeping Costs Down Like we mentioned above, one way to lower costs is to carry multiple policies. Adding smoke detectors in your home and maintaining a connected security system can also lower premiums. The location of the home matters, too, so you may want to keep that in mind when beginning the home shopping process. What it Covers Be aware of what your policy covers. Earthquakes, flooding, tornadoes, and fire are just a few of the perils that could visit your home. Your policy comes in a package of coverages including, but not limited to, the house and its related structures, personal possessions, loss of use of the house, personal liability, and medical payments. Homeowner’s insurance, although required by a mortgage lender, is always a good idea. You never know what may come upon the house, its contents, or its visitors.
The Importance of Customer Service No discount can outweigh bad customer service. A smooth claims process is of the utmost importance when your home is unlivable or when any sort of calamity has hit the household. We revisit the idea of reviewing the customer service of each company from which you obtain a quote.
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LOGO 804-789-0795 www.AtkinsonInsuranceAgency.com info@atkinsonins.com
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Please Say You Saw It In The Real Estate Book - Vol. 25, No. 12 - Page 21
Make Your Homebuying Dreams a Reality When it comes to big decisions like buying a home, choose a lender that is focused on you! Variety of loan programs In-house processing, underwriting & closing Don’t forget to ask about grant funds & first-time homebuyer programs!
Mark Atkinson, Loan Officer (804) 929-3924 matkinson@cfmortgagecorp.com
www.cfmortgagecorp.com/Mark-Atkinson NMLS # 964035 This is not a commitment to lend.
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LUXURY SYNDICATION AT ITS FINEST
Luxury syndication with The Real Estate Book has global reach. Luxury listings are posted daily to these great luxury brands including: *
#
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International editions of The Wall Street Journal, including Asia, Europe, India, China and Latin America. Mansion Global English, Spanish and Chinese.
# Listings $450,000 and above, * Listings $500,000 and above, ** Listings $750,000 and above, *** Listings $1,000,000 and above
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12/20/16 3:02 PM
Rick Stockel
Licensed in the State of Va.
A Trusted Name in Richmond Real Estate TEXT R452357 TO 52187
TEXT R487513 TO 52187
THE ESTATES AT ROYAL VIRGINIA 5 Bedrooms, 3 1/2 Baths, 3335 sq ft, $430,000. Call Rick for a private showing!
HANOVER - GREEN RIDGE 4 Bedrooms, 2 1/2 Baths, 2400 sq ft, $330,000. Call Rick for a private showing!
TEXT R482654 TO 52187 HANOVER - STONE WOODS 5 Bedrooms, 4 Full Baths, 5515 sq ft, $760,000. Call Rick for a private showing!
TEXT R569961 TO 52187 GLEN ALLEN - WEST BROAD VILLAGE 3 Bedrooms, 3 1/2 Baths, 1,956 sq ft, $381,400. Call Rick for a private showing!
TEXT R569977 TO 52187 POWHATAN - MEADOW FARMS 4 Bedrooms, 4 1/2 Baths, 3300 sq ft, $455,000. Call Rick for a private showing!
If you’re thinking of selling your home, call Rick Stockel for a FREE Comparative Market Analysis 804-218-3143
e Text any of th ese th on ” es “R Cod 87 21 ” photos to “5 iew to Instantly V ion at rm fo Photos/In
804-218-3143 Email: rstockjr@aol.com
Web: www.RickStockel.com 88728.25.12.023.RStockel.indd 1
10/18/17 4:53 PM
SOLD
Ask Us How To Save Up To $10,000 In Closing Costs!
Contact one of the Agents advertising on this page or any of our Berkshire Hathaway PenFed Realty Agents and get the details on this unbelievable program, designed for BHHS PenFed Realty Clients ONLY!
Chesterfield Office Henrico Office (804) 915-4000 (804) 916-3300 www.penfedrealty.com
DEBRA WINALL REALTOR®
804-539-1787
Debra.Winall@PenFedRealty.com
TEXT R529921 TO 52187
JOYCE BURKEEN
ABR, CRS, GRI, SFR, Assoc. Broker, Distinguished Achiever
804-405-5373
joyceburkeen@aol.com
GOOCHLAND 6 & 522 – This unique home is a little piece of Heaven! Open concept w/first floor living, vaulted ceilings & outdoor living. Basement is perfect for an office or work room. THIS is a home worth seeing! $410,000 MLS#1732462 Debby Winall 804-539-1787
TAMARA TAYLOR REALTOR®
804-519-7676
Tamara.Taylor@PenFedRealty.com
UNDER CONTRACT TEXT R506094 TO 52187
CALLING ALL INVESTORS! This home is in a prime location in Colonial Heights and can be yours today. This home features a screened in front porch, enclosed side porch and a large eat-in kitchen. Contact Tamara Taylor at 804-519-7676 to show.
Gary Duke
KEVIN PULLER REALTOR®
REALTOR®
804-840-1118
Knowledge & Experience YOU can TRUST!
Kevin.Puller@PenFedRealty.com
TEXT R507677 TO 52187
GLEN ALLEN -Beautiful All Brick one owner Quad located in quiet Culdesac! 5 BRs & 3 baths w/beautiful original HDWD Floors throughout! Designer Kitchen has center island for cooking & Custom Cabinets. Beautifully landscaped yard, freshly painted in and out. Contact Kevin Puller 804-840-1118 or Sly Wright 804-363-7265 for details!
TEXT R458254 TO 52187
POWHATAN – Gorgeous Private 10+ Acres with a creek. Convenient location, minutes from Walmart, Westchester Commons Shopping and Dining and 288 Interchange. Lovely one owner custom built home offers formal LR, DR, FR w/FP & Large Kitchen w/ abundance of cabinets and counter space. 4 BRs, 2.5 Baths w/extra shower in Laundry Rm. Oversized, detached 2 Car Garage. Fantastic Price!!! $295,000 MLS 1726276. Call 804-405-5373. Email: joyce.burkeen@penfedrealty.com
Serving the Richmond Area for Over 16 Years! Consistently in the Top 10 of local PenFed Agents! Top 3% of Berkshire Hathaway HomeServices Agents Nationwide! Call: 804-512-2027 gary.duke@comcast.net
TEXT P272139 TO 52187
2.5 ACRES ON MIDLOTHIAN w/6 additional acres for 8.5 acres zoned commercial! 2.5 miles w. of the Rt. 60/288 interchange & West Chester Commons Mall on Eastbound side of RT 60. County records documented 33,000 vehicles traveled daily in 2012. Perfect location for a variety of commercial businesses. Contact Kevin Puller at 804- 840-1118 or Sly Wright 804-363-7265. MLS/ID:1526863
©2015 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.®
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