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Blog Posts (25)
- Shifting Trends in the Real Estate Market: A Transition from Sellers to Buyers
In recent years, the real estate market heavily favored sellers. During the peak of the COVID-19 pandemic, homebuyers found themselves in a frenzy, vying for limited housing stock. Sellers enjoyed unprecedented advantages, often witnessing bidding wars and receiving all-cash offers for their properties. However, the landscape began to shift as the pandemic's impact lessened. Inflation rates surged, pushing mortgage rates into the mid-6% to over 7% range. This significant rise in mortgage rates started to cool down the red-hot housing market, marking a transition that began to balance the scales between buyers and sellers. As the market evolves, buyers and sellers must navigate these changes with a keen understanding of the current dynamics. Sellers may no longer experience the same level of competition and high offers they enjoyed during the pandemic peak. On the other hand, buyers might find themselves with more negotiating power and a greater selection of available homes. This shift underscores the importance of staying informed and adaptable in the real estate market. Whether you’re buying or selling, understanding these trends will help you make the most of the opportunities that come your way.
- The Lucky 7
2024 closed with home loan rates at 7%, much higher than many experts had predicted when the year began. This spike in rates was a result of inflation remaining higher than expected and the Federal Reserve likely cutting rates less than expected in 2025. The good news, the story can change just like last year’s forecast and result. January Effect January has historically produced high volatility and sharp swings in interest rates. The 10-year Note yield is a longer-term interest rate and generally moves alongside mortgage rates. Here are the interest rate moves for the 10-year Note year yield for each of the last three years. ● 2024 Jan 1st 3.86% to 4.19% Jan 24th ● 2023 Jan 1st 3.87% to 3.36% Jan 22nd ● 2022 Jan 1st 1.49% to 1.90% Jan 23rd Note, these sizable interest rate moves took place in the first three weeks of the year. Cross Currents for 2025 As we proceed through the weeks and months ahead, there are many cross currents, which will help or hurt home loan rates. Here’s a list of just some of them below. ● Debt ● Deficit spending ● Oil ● Deregulation ● Inflation ● Tariffs ● Trade ● Business investment ● Manufacturing expansion or recession ● Consumer/business confidence ● Unemployment ● GDP ● Geopolitics ● Global economies ● Global central banks ● Fed Of all the things that could help lower mortgage rates in 2025, the Fed may be the least likely. Current market expectations are for the Fed to cut rates just two times this year. Potentially having the largest impact on rates could be how our government addresses our current debt trajectory, which Fed Chair Powell has said is the “ultimate threat to the U.S. economy.” As it relates to fiscal policy, debt and deficit spending, we are still one month away from a new President, a new Congress and a new outlook on fiscal policy which will take time to get into place. This means uncertainty and volatility is likely to continue for the time being. Bottom line: No one knows what rates are going to do, but if history is any guide, we should prepare for a potentially sharp move in rates in January.
- Mystery Buyer in Richmond
A prominent site on West Broad Street appears to have found a buyer. The former Wells Fargo branch at 3501 W. Broad St. is reportedly under contract, although the identity of the purchaser remains a mystery. The bank closed the branch last summer, making the 9,900-square-foot building and its 1.15-acre parcel available for sale. Situated in the Museum District and facing the western edge of Scott’s Addition, the property falls within the TOD-1 Transit-Oriented Nodal district, allowing for new construction of up to 12 stories, as part of the 2021 Pulse Corridor rezoning's. Thalhimer is marketing the lot as a redevelopment opportunity, with brokers David Smith and Will McGoogan handling the listing. While the pending sale is under wraps, no recent plans have been filed with the city for the site. The bulk of the parcel is currently a surface parking lot, with the vacant branch dating back to 1979 and valued at $4.7 million according to city records. Development on the south side of Broad Street has been less frequent compared to the north, with the former Gusti Restaurant Equipment & Supply site being a notable exception. Despite plans for a mixed-use project, development has yet to commence on the 2-acre site near Sheppard Street and Cutshaw Avenue. Nearby, ongoing construction is evident with apartment buildings nearing completion on a former International Mission Board parking lot. Further south in the Museum District, demolition of a vacant senior living facility has paved the way for a new six-story apartment building at the intersection of North Thompson Street and Grove Avenue. Meanwhile, Wells Fargo has recently closed branches in Innsbrook, along Belt Boulevard in the Southside, and in Monroe Ward. The impending sale of the West Broad Street property signifies potential growth and transformation in this evolving area of Richmond.
Other Pages (12)
- About | River Hill Realtors
About At River Hill Realtors, we are more than just a brokerage; we are family. We are your dedicated partners on the journey to finding your perfect home, business, or commercial space in the charming landscapes of central Virginia. Nestled in this vibrant community, our team of full-time real estate professionals is committed to delivering unparalleled service with a forward-thinking approach. Who We Are: River Hill Realtors stands as a testament to a vision rooted in excellence. Our team comprises seasoned real estate experts, each of whom is a full-time professional dedicated to turning your real estate aspirations into reality. We specialize in residential, commercial, and business transactions. River Hill Realtors represents the real estate portion of all transactions. While RHR Brokerage represents the business to business and transactional component. Our family of brands includes RHR Behavioral Health that specializes in mental health. At some point in our lives, we have experienced a need for all the skills and expertise provided by the professionals in the agency. Deep Connections in Richmond: While based in Chester, our reach extends beyond city limits. River Hill Realtors maintains deep connections with the Richmond, Virginia community, ensuring that we are not only well-versed in the local real estate market but also deeply embedded in the heartbeat of the region. Forward-Thinking Mindset: In a rapidly evolving industry, being forward-thinking is not just a strategy – it's our ethos. We embrace innovation, staying abreast of the latest trends and technologies to provide our clients with a competitive advantage in the dynamic real estate landscape. Why Us: 1. Full-Time Commitment: Our team is comprised entirely of full-time real estate professionals, guaranteeing that you receive unwavering dedication and expertise throughout your real estate journey. 2. Local Expertise: With our roots in Chester and connections in Richmond, we bring a comprehensive understanding of the real estate dynamics, ensuring that you make informed decisions. 3. Community-Centric Approach: We believe in the power of community. Beyond transactions, we strive to build relationships that contribute to the growth and prosperity of Chester and Richmond. 4. Innovation at Your Service: Our forward-thinking mindset is not just about keeping up; it's about leading the way. We leverage the latest technologies and strategies to give you a distinct edge in your real estate endeavors. Choosing us means choosing a partner dedicated to your success. Whether you're embarking on homeownership, looking to sell, or investing, our team is here to make your experience seamless, enjoyable, and ultimately, a triumph. Let's embark on this exciting journey together – where your dream home becomes a reality! For Buyers In an era of abundant information, buyers have unprecedented access to resources. At River Hill Realtors, we transform information into invaluable insights, ensuring a transparent process that maximizes your investment and guides you towards discovering the home you truly adore. For Sellers At River Hill Realtors, our track record speaks for itself — we consistently sell properties faster and at superior prices compared to other firms. Through strategic marketing, extensive exposure, a compelling price point, and an aesthetic that captivates potential buyers, your property is well-positioned for a successful and swift sale. RHR Brokerage For Entrepreneurs In 2022, River Hill Realtors extended their offerings to include business consulting services to those that want to buy, sell, expand, or dominate the marketplace. Those offerings are through the RHR Brokerage brand. Some industries that we specialize in include: Behavioral Health | Medical Practices | Child & Pet Care Restaurants | Bars | Taverns E-Commerce Sites Book of Business Assets (Accounting, Hair Care, Single Owner Items, and Service Businesses) Full Service Businesses (HVAC, Plumbing, Electrical and Cleaning) We discount our commission rates, valuations, and marketing cost for military and public service owners. Additionally, we will co-broker your transaction with realtors, private equity firms, and business professionals within the United States. RHR Brokerage provides full transparency on commission rates. 10% if we find the buyer 8% if you find the buyer RHR Brokerage offers short and long term listing agreements. Additionally, we can facilitate new, renewals and assignment leases within the state of Virginia. We offer a full range of packages to assist you with your next adventure in entrepreneurship. Reach out for a free, zero obligation consultation. For Landlords & Tenants Coming Soon!
- Our Privacy Policy | River Hill Realtors
Privacy Policy Full Disclosure We receive, collect and store any information you enter on our website or provide us in any other way. In addition, we collect the Internet protocol (IP) address used to connect your computer to the Internet; login; e-mail address; password; computer and connection information and purchase history. We may use software tools to measure and collect session information, including page response times, length of visits to certain pages, page interaction information, and methods used to browse away from the page. We also collect personally identifiable information (including name, email, password, communications); payment details (including credit card information), comments, feedback, product reviews, recommendations, and personal profile. When you conduct a transaction on our website, as part of the process, we collect personal information you give us such as your name, address and email address. Your personal information will be used for the specific reasons stated above only. We collect such Non-personal and Personal Information for the following purposes: To provide and operate the Services; To provide our Users with ongoing customer assistance and technical support; To be able to contact our Visitors and Users with general or personalized service-related notices and promotional messages; To create aggregated statistical data and other aggregated and/or inferred Non-personal Information, which we or our business partners may use to provide and improve our respective services; To comply with any applicable laws and regulations. Our company is hosted on the Wix.com platform. Wix.com provides us with the online platform that allows us to sell our products and services to you. Your data may be stored through Wix.com’s data storage, databases and the general Wix.com applications. They store your data on secure servers behind a firewall. All direct payment gateways offered by Wix.com and used by our company adhere to the standards set by PCI-DSS as managed by the PCI Security Standards Council, which is a joint effort of brands like Visa, MasterCard, American Express and Discover. PCI-DSS requirements help ensure the secure handling of credit card information by our store and its service providers. We may contact you to notify you regarding your account, to troubleshoot problems with your account, to resolve a dispute, to collect fees or monies owed, to poll your opinions through surveys or questionnaires, to send updates about our company, or as otherwise necessary to contact you to enforce our User Agreement, applicable national laws, and any agreement we may have with you. For these purposes we may contact you via email, telephone, text messages, and postal mail. If you don’t want us to process your data anymore or edit your contact information, please contact us at admin@rhrbrokerage.com . We reserve the right to modify this privacy policy at any time, so please review it frequently. Changes and clarifications will take effect immediately upon their posting on the website. If we make material changes to this policy, we will notify you here that it has been updated, so that you are aware of what information we collect, how we use it, and under what circumstances, if any, we use and/or disclose it. Google AdSense Privacy Policy for Publishers Google Publisher Policies Terms & Conditions Google Publisher Restrictions Richmond, VA “I knew what it took to sell a home. Having River Hill Realtors walk me through the comparables and timeline gave me peace of mind." Chesterfield, VA "RHR Brokerage was able to assist me in locating the perfect business opportunity in Chesterfield. We went over the inventory and equipment appraisal, which was nothing like buying a home. Thanks for your expertise and grace." Colonial Heights, VA “You came to our rescue when we needed a mobile notary for our family member's executor and power of attorney documents.”
- Referral Landing Page | River Hill Realtors
The referral program is not available.