October Newsletter 2021

Dated: October 8 2021

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Featured Property

2301 Ridge Road, Powhatan, VA 23139
• 2,550 square feet • $550,000 

Featured Property

Built in 2021, this home is low maintenance & move-in ready. With 2,550 square feet, 4 bedrooms, 3 full baths, ADA accessibility, and 10 acres of land, there is plenty of space for everyone you love. Attached 2+ car garage, screened porch overlooking the back yard, paved driveway, whole house generator, mature hardwoods, & detached storage shed with workshop, power, & 2 lofts add to the list of features!

Recently Sold!

We're always happy to help our clients find the home of their dreams!

Here are our some of our recentlysold listings!

Great work to our committed Clocktower Realty Group agents!

Recently Sold

Clocktower by the Numbers

  • Number of homes sold in September: 28

  • Number of homes pended in September: 52

  • Number of homes listed in September: 30

  • Number of Clocktower agents: 62

Early October Is The Sweet Spot For Buyers

As a buyer, you’re likely braving bidding wars and weighing low mortgage rates versus price appreciation as you search for your dream home. If you find yourself a bit discouraged, hear this: there are clear signs buyers may have more opportunities this fall. According to realtor.com, the sweet spot for buyers is NOW. In a recent study, experts analyzed housing market trends by looking at data from the past several years. When applied to the current market, experts determined the ideal week to buy a home this year. The research says: “Nationally, the best time to buy in 2021 is the week of October 3-9. This week historically has shown the best balance of market conditions that favor buyers.” So, what’s that mean for you? If you’re looking to buy a home, there’s a golden window of opportunity coming. Here’s what you can expect from that week:

  • Increased Housing Supply- The number of homes available for sale should increase. According to realtor.com, you can expect to see more new listings come to market the week of October 3. The findings estimate we’ll see roughly 17.6% more homes available than we saw at the start of the year. This means you’ll have more options to choose from which should be a welcome relief in a market with tight housing supply.
  • Fewer Bidding Wars- With more homes available, you should also see a slight decline in the number of bidding wars. Having more options means buyers may not be competing as intensely for the homes on the market because there are more choices to go around. This means when you write an offer, you may have less competition and a better chance of being the top bid. Just remember, it’s still important to come in with a strong offer.
  • Adjusted Homes Prices- As we move into the end of the year, the findings from realtor.com note this week may also be one of the peak weeks for price reductions in 2021. Historically the data shows an average of 7.0% of homes have a price reduction that week. Why? When housing supply ticks up, sellers need to look for other ways to make their house stand out. This means, while home prices are still appreciating overall, you may see some homes with price adjustments from eager sellers. The process of closing a house takes time. To close before end of year, sellers may be more motivated this October

Bottom Line: If you’re in the market for a home, don’t lose steam now. Data shows early October may give you the long-awaited opportunity to find the home of your dreams. Lean on a trusted Clocktower Realty Group real estate professional as your ally and advisor to help keep you motivated so you can find the perfect home. Source: KCM Blog

Things to do in RVA: Things to The Richmond Folk Festival 

Richmond Folk Festival

The Richmond Folk Festival is back and bringing more than 30 acts to five stages along Richmond’s riverfront on October 8-10, 2021. There is so much to see and do that, basically, you just need to show up with an open mind and comfortable shoes. But, if you’re looking for a few suggestions, crowd-pleaser Rare Essence will be back with go-go, The Pedro Giraudo Tango Ensemble will bring Argentine tango, and “Dizzy Spellz” trumpeter Sean Jones with tap dancer-singer Brinae Ali will move you, to name a few. Masks and vaccines are encouraged. 6:30 to 10 p.m. Friday, 1 to 9:30 p.m. Saturday and 1 to 6 p.m. Sunday. Brown’s Island; 690 Byrd St. for drop-off location. Free entry; $10 donation suggested per day. RichmondFolkFestival.org

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