A renewed focus on homeownership brought about by the pandemic changed the perspective of the population that would generally be renters. As a result, Richmond real estate investors should be aware that this driving force is now cooling and consider adjusting their investment strategy accordingly. So read on as we explore what Richmond real estate buyers and sellers can expect in 2023. Please note that this article is for informational purposes, not financial or legal advice.
Richmond real estate buyers and sellers can expect new laws to come into play. Among them, there is a renewed focus on capital gains taxes and like-kind exchanges and an additional surtax on net investment income, dependent upon your income and marital status. Hybrid agent investors like those at RVA Home Buyers dedicate themselves to staying on top of the market so that they can assist with selling or buying real estate to help you take advantage of the tax laws before the 2023 changes come into effect.
While experts may provide different perspectives on what investors can expect from the real estate market in 2023, Richmond real estate buyers and sellers can expect interest rate changes to affect buyers, moving many to the sidelines. If you’re considering selling and want to do so before interest rates increase, acting as a direct buyer, your hybrid agent investor from RVA Home Buyers can provide a guaranteed closing date, typically in a few days.
Supply and Demand
Richmond real estate buyers and sellers can expect the overall lack of supply to meet the demands for available housing to continue. However, there is no time like the present. If you’re a seller, you should talk to the hybrid real estate agents from RVA Home Buyers who will compare what you’d profit by listing vs. their offer to buy your home directly, acting as a professional investor. In addition, hybrid agent investors like those at RVA Home Buyers provide you with line-by-line details to understand your out-of-pocket expenses should you list and the expenses and risk your hybrid agent investor would take on by buying your home directly. Our hybrid agent investors at RVA Home Buyers give you the facts to make an educated decision on the best way to sell, given your current circumstances. At RVA Home Buyers, we are your neighbors here in Richmond and want you to feel good about the deal made with us long after closing.
While there may be a slowing in sales growth, and some markets may experience a slight drop in housing costs, investors can expect a slow but steady continuation of rising housing costs in many markets. In contrast, other markets may experience no change in values, and very few will decline. In addition, selling directly to a hybrid agent investor from RVA Home Buyers acting as a direct buyer saves you time and money because sellers never pay any commissions, closing fees or broker fees.
Buyers and sellers can expect the changes in the 2023 Richmond real estate market to impact the speed at which homes are selling and the ability of buyers to lock in a loan at the current rates. Sellers may wish to consider the decreasing number of buyers who can afford to buy as housing prices continue to climb and sell now. In contrast, buyers who may be on the fence about buying should consider jumping into the market before interest rates or home values push you out of the running. If time is of the essence, the property needs work, or you don’t have any interest in the conventional listing process, acting as a direct buyer at RVA Home Buyers, our hybrid agent investors buy houses as-is for cash.
Millennials make up most of the Richmond real estate buyers, and sellers can expect an increased focus on the use of technology in 2023. This buyer pool uses the internet to research and narrow their options before making real estate purchases, and sellers must follow suit by using the internet and online technology to their advantage. If you should decide to list your home on the Richmond real estate market, acting as a real estate agent, a hybrid agent investor like those at RVA Home Buyers will list your home using the latest technology.
The hybrid agent investors at RVA Home Buyers know what Richmond real estate buyers and sellers can expect in 2023. So why not talk to a hybrid real estate agent at RVA Home Buyers about your plans for buying or selling and ask any questions you may have? We’re happy to help calm your concerns, and you’re under no obligation whatsoever. Our policy at RVA Home Buyers is to keep the lines of communication open so that you won’t feel ignored or like another number to the hybrid real estate agents from RVA Home Buyers and our full-service in-house team of industry specialists. Call RVA Home Buyers at (804) 420-8515.