Interest Rates Drop

Mortgage Rates Take a Big Dip This Week
For the week ended Dec. 3, Freddie Mac reported the lowest interest on 30-year fixed home loans since late January.

The rate came in at an average of 5.53 percent, down from 5.97 percent the previous week and 5.96 percent a year ago; while 15-year fixed mortgages settled at 5.33 percent compared to 5.74 percent last week and 5.65 percent in the year-earlier period.

Borrowing costs for short-term loans also were lower, with one-year adjustable-rate mortgages dipping to 5.02 percent from 5.18 percent a week ago and 5.46 percent a year ago.

Five-year hybrid ARMs, meanwhile, fell to 5.77 percent from 5.86 percent last week and 5.75 percent during the same period of last year.

Source: Realty Times (12/05/08)

Zip Realty

You may have noticed that the Long and Foster Logo is gone from this Blog. Well, it's because I have made a switch to a new brokerage company. I'm now with Zip Realty. You may not have heard of Zip Realty, but it is a publicly traded company that began in California in 1999. According to Realtor Magazine it is #15 in the country in transactions for 2007 and is growing with leaps and bounds. The office here in Richmond celebrated it's 1 year anniversary this August. The website will give you more history of the company.
It is my goal as a Realtor to offer my clients the best experience they can have in buying or selling a home. This includes customer service, marketing and administration services and follow up. Zip Realty has the same goals and puts a network of services along with it. You can receive up to a 20% rebate on the purchase of a new home and save up to 25% commission on the sale of your home. Zip has a 94% customer satisfaction rating. There is an excellent website where you can search homes by different criteria and you are assigned a personal agent to help you with the site and with the purchase/sale of your home. Zip Realty parallels my goals and puts a great website behind it.
So, I am now a better agent for you with Zip Realty. Please call me and I will help you sign on the website or check it out yourself.
Have a Great Day!

Dog Poison LIne

"Calling all dog owners!"
Did you know there is a poison hotline for dogs? Well, there is. It's 1-800-213-6680. But because they do not receive any government funding there is a $35.00 charge (price on 7/24/08). If you can not reach your Vet. it's worth it. I hope you do not need to call this number.
Wythe

Downtown Master Plan

Today, I had the opportunity to hear Rachel Flynn, Director of Community Development speak about the Master Plan for Downtown Richmond. This is the second time I have seen the presentation and I am equally impressed. There are great plans for the revitalization of Downtown including increased utilization of the river, improved transportation, and over all redevelopment. Please review the link of The Master Plan under the Government Tab of this blog to get the full details. This plan needs the support of not only Richmond residents, but also everyone from the counties. Please call/email a city council person with your support. Email addresses are available on the Richmond Website.

I welcome any comments on this topic.

Wythe

Virginia Association of Realtors Home Sales Statistics

If you would like to keep up the Virginia Housing Market the VAR website is a good place. Go to http://www.varealtor.com/Research/VirginiaHomeSales/tabid/228/Default.aspx for statistics on sales by Local Multiple Listing Services. The second quarter report is due out on 7/24/08