Featured Property2821 E Grace Street Richmond, VA 23223• 1,574 square feet • $475,000 •Beautiful hardwoods, fresh paint, & all new plumbing and lighting fixtures throughout.
February 2021 Newsletter
Dated: February 3 2021
222 Green Point Lane, Cobbs Creek, VA 23035
• 1,904 finished square feet • $275,000
This Mathews home offers 4 bedrooms, 2 full baths, sits on over 5 acres of land, & is waiting to be renovated. The 5+ acres can be subdivided into separate lots with views of the Piankatank River from the entire property. Beautiful serene setting, close access to several marinas, and to the public boat landing!
We're always happy to help our clients find the home of their dreams!
Here are our some of our recently sold listings!
Great work to our committed Clocktower Realty Group agents!
Clocktower by the Numbers
- Number of homes sold in January: 29
- Number of homes pended in January: 40
- Number of homes listed in January: 15
- Number of Clocktower agents: 63
Interior Design Trends for 2021: Ocean Hues
Capturing relaxing poolsides and beach getaways, aqua and inky blues offer a calm, contemporary look. Benjamin Moore's Color of the Year 2021 reflects this shift towards tranquil, yet modern interiors with Aegean Teal, a color that is known for its association with peace, calm and comfort, definitely something we can all use a little more of right now!
Ocean blues are a key color trend for the year. Varying from deep inky tones through to soft aquas, blue is the perfect color for creating a tranquil home.
What Record-Low Housing Inventory Means for You
The real estate market is expected to do very well in 2021, with mortgage rates that are hovering at historic lows and forecasted by experts to remain favorable throughout the year. One challenge to the housing industry, however, is the lack of homes available for sale today. Last week, the National Association of Realtors (NAR) released their Existing Home Sales Report, which shows that the inventory of homes for sale is currently at an all-time low.
What it means for buyers: Be patient during your home search. It may take time to find a home you love. Once you do, however, be ready to move forward quickly. Get pre-approved for a mortgage, be prepared to make a competitive offer from the start, and know that a shortage in inventory could mean you’ll enter a bidding war. Calculate just how far you’re willing to go to secure a home and lean on your real estate professional as an expert guide along the way. The good news is, more inventory is likely headed to the market soon, Lawrence Yun, Chief Economist at NAR, notes: “To their credit, homebuilders and construction companies have increased efforts to build, with housing starts hitting an annual rate of near 1.7 million in December, with more focus on single-family homes...However, it will take vigorous new home construction in 2021 and in 2022 to adequately furnish the market to properly meet the demand.”
What it means for sellers: Realize that, in some ways, you’re in the driver’s seat. When there’s a shortage of an item at the same time there’s a strong demand for it, the seller is in a good position to negotiate the best possible terms. Whether it’s the price, moving date, possible repairs, or anything else, you’ll be able to request more from a potential purchaser at a time like this – especially if you have multiple interested buyers. Don’t be unreasonable, but understand you probably have the upper hand.
Bottom Line: The housing market will remain strong throughout 2021. Know what that means for you, whether you’re buying, selling, or doing both. Source: KCMBlog