Mike May, Realtor 804.731.0111 Mike May, Realtor 804.731.0111
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Blog Posts by Mike May

Posts filed under Blog Posts by Mike May



Rising Prices Help You Build Your Family’s Wealth
Posted Wed, Apr 18th 2018 7:30 pm
Over the next five years, home prices are expected to appreciate, on average, by 3.6% per year and to grow by 18.2% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Surv...

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Case Study - Housing Decision During Retirement
Posted Tue, Apr 17th 2018 10:42 am
A couple is planning to tour the United States in a travel trailer during their first few years of retirement. They are going to sell their current home now and purchase another home when they fini...

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The COST of Your Next Home Will Be LESS Than Your Parents’ Home Was
Posted Thu, Apr 12th 2018 3:06 pm
There is no doubt that the price of a home in most regions of the country is greater now than at any time in history. However, when we look at the cost of a home, it is cheaper to own today than ...

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Waiting Period After Distressed Sale
Posted Tue, Apr 10th 2018 1:02 pm
"How long do we have to wait to qualify for another mortgage" is the question concerning people who've had a foreclosure, short sale or bankruptcy. The loan types for the new loan will differ in am...

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House Prices: Simply a Matter of Supply & Demand
Posted Thu, Apr 5th 2018 1:50 pm
Why are home prices still rising? It is a simple answer. There are more purchasers in the market right now than there are available homes for them to buy. This is an example of the theory of “sup...

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Waiting Will Cost More
Posted Tue, Apr 3rd 2018 1:32 pm
With the first quarter of 2018 in the books, the 30-year fixed rate mortgage is nearing what Freddie Mac predicted it would be in the second quarter. If this pace continues, rates will exceed the f...

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Happy Easter!
Posted Fri, Mar 30th 2018 10:15 am

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The Best Trees for Privacy, Shade, and More You'll Adore
Posted Thu, Mar 29th 2018 12:59 pm
What are the best trees for privacy, shade, and your yard in general? Such questions are well worth asking, since not all flora are created equal. For instance, certain trees are yard maintenance...

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FHA Advantages
Posted Tue, Mar 27th 2018 10:16 am
The Federal Housing Administration, operating under HUD, offers affordable mortgages for tens of thousands of buyers who may not qualify for other types of programs. They are popular with both firs...

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Freddie Mac: Rising Mortgage Rates DO NOT Lead to Falling Home Prices
Posted Thu, Mar 22nd 2018 2:47 pm
Recently, Freddie Mac published an Insight Report titled Nowhere to go but up? How increasing mortgage rates could affect housing. The report focused on the impact the projected rise in mortgage ...

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Standard or Itemized
Posted Tue, Mar 20th 2018 1:12 pm
Taxpayers can decide each year whether to take the standard deduction or their itemized deductions when filing their personal income tax returns. Roughly, 75% of households with more than $75,000 i...

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Moving Up Is MORE Affordable Now Than Almost Any Other Time In 40 Years
Posted Thu, Mar 15th 2018 12:51 pm
If you are considering selling your current home, to either move up to a larger home or into a home in an area that better suits your current family needs, great news was just revealed. Last wee...

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Inventory Continues to be a Challenge
Posted Tue, Mar 13th 2018 1:04 pm
In any given market, inventories fluctuate based on supply and demand considering area and price range. The National Association of REALTORS considers a balanced market to be a six-month supply of ...

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Your Refund Could be the Difference
Posted Thu, Mar 8th 2018 1:23 pm
One of the silver linings to filing your income tax return is finding out that you are going to receive a refund. If you happen to be one of these fortunate taxpayers, your next decision is what to...

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Competition is Coming, Are You Thinking of Selling Your Home?
Posted Tue, Mar 6th 2018 2:00 pm
The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau an...

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Are Home Values Really Overinflated?
Posted Thu, Mar 1st 2018 2:40 pm
Last week, the National Association of Realtors (NAR) released their most recent Existing Home Sales Report.According to the report: “The median existing-home price for all housing types in Janu...

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Fair Skies on Horizon
Posted Tue, Feb 27th 2018 1:14 pm
Buyers who have been concerned about what might happen to the tax laws affecting home ownership should feel more comfortable about moving forward with their decision to purchase. The 2017 Tax Cut a...

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Mortgage Rates on FIRE! Home Prices Up in Smoke?
Posted Thu, Feb 22nd 2018 1:50 pm
Mortgage interest rates have already risen by over a quarter of a percentage point in 2018. Many are projecting that rates could increase to 5% by the end of the year. What impact will rising ra...

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Historical Perspective for Chester, VA
Posted Tue, Feb 20th 2018 9:40 am
In 1968, mortgage rates were 8.5%. The next year, rates went down to 7%. Homeowners could buy a 15-20% larger home for the same payments if they could find someone to assume their mortgage. FHA an...

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Calm Down! The Real Estate Market is NOT Falling Apart - Chester, VA
Posted Thu, Feb 15th 2018 1:59 pm
There has been tremendous volatility in certain markets over the last few weeks (for example, the stock and currency markets). When this happens, some tend to lump all of their investments togeth...

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