Richmond VA Condos

  • A Must Read for Condo Buyers
  • 804.767.7566
  • The Sarah Jarvis Team
  • Big Projects
    • Ginter Place
    • GreenGate
    • Libbie Mill
    • Monument Square
    • Rocketts Landing
    • Riverside On The James
    • Vistas on the James
    • West Broad Village
  • By Neighborhood
    • Downtown Richmond
    • Fan and Museum District
    • Church Hill
    • Jackson Ward and Carver
    • Manchester
    • West End and Glen Allen
  • Around The Colleges
    • Near VCU
    • Near VCU Medical (MCV)
    • Near VUU
  • One-Click Searches
  • Blog
  • Stats
  • Rentals

How long before we forget?

Sometime last week, I was driving around with a client through a typical suburban neighborhood and I made the comment about a new home for sale that looked huge and overdone.

“That is a classic example of pre-2008 architecture.” What I think I was saying was that its style and presence were from a different era. It was an era that ended as fast and abruptly as any era had ended before, but it was over.

The home was oversized for the lot it was on and it seemed to have every bell and whistle imaginable. It felt like it was an $800,000 home in the old world. Today, I wondered if the builder (or more accurately, their banker) could get $450,000.

The home was built under a completely different set of circumstances and inputs during a time when nothing having to do with money or real estate really mattered. It was built to appeal to the psyche of a nation who felt financially bullet-proof. It was built when pricing was going up so fast that it was hard to overpay. I guess things have changed.

The financial crisis/recession/whatever you want to call it has affected almost everyone in some way. It shook our confidence and made us look inward. It taught us that being long lasting, even if slightly behind the times, was fine. It taught us that a useful life of a product should be longer than 6 months. It taught us to focus on value and quality. It taught us to eschew excess.

But here is the question: Is this shift a permanent one or a temporary one?

As we have begun to emerge from the meltdown of 2008/9, the public voice has changed. The public says ‘we want higher quality, even if it mess doing with less’ and the magazines and experts are predicting ‘craftsman style’ and ‘green’ and ‘the return of the bungalow.’ That all sounds nice, but what is selling is something eerily similar to what was selling before…just for less.

The new housing stock has definitely shifted from larger and loaded-up to either smaller and loaded-up or larger and stripped down. Builders are all re-tooling their product lines to one side or the other. Right now, it appears as if the stripped down big box is winning.

The public seems to be buying as much square footage as they can but without all of the bells and whistles. Saying size doesn’t matter apparently doesn’t mean that it doesn’t matter. I guess size provides its own luxury.

So time will tell if there really has been a shift in what we desire or rather these next few years will be just a tapping of the brakes on our quest forward.

What do you think?

For more information, see Richmond Virginia Condos.

Related Posts

Filed Under: Market Updates

804.767.7566


How Do I Schedule a Showing or Find Out More?

I am Kendall C. Kendall, Client Care Coordinator for the team. I am a licensed Realtor and it's my job to answer questions and schedule showings for the properties shown on our sites. Here's our call policy.
kendall@richmondvamls.net

Working with Buyers

Working With Buyers

I am Sarah Jarvis, Broker at One South and I work with our buyers. I bring 20+ years of experience to our Buyers Advocacy program and take great pride in helping our clients understand the RVA marketplace.
sarah@richmondvamls.net

What You Should Know About Condo Financing

Price Point Searches

  • Condos, less than $125,000
  • Condos between $125k and $200k
  • Condos between $200k and $300k
  • Condos between $300k and $500k
  • Condos over $500k

# Bedroom Searches

  • Condos with 1-bedroom
  • Condos with 2-bedrooms
  • Condos with 3-bedrooms
  • Condos with 4 or more bedrooms

By Neighborhood

  • Condos In Downtown Richmond
  • Condos In The Fan/Museum District
  • Condos In Manchester
  • Condos In Jackson Ward and Carver
  • Condos In Church Hill
  • Condos in West End, Short Pump & Glen Allen

Big Projects

  • Ginter Place
  • GreenGate
  • Libbie Mill
  • Monument Square
  • Rocketts Landing
  • Riverside on the James
  • Vistas on the James
  • West Broad Village

Find Us

One South Square Logo

2314 West Main Street
Richmond, VA 23220
804.767.7566
kendall@richmondvamls.net

Accessibility
Copyright

Lending

Richmond Home Loans Thru Southern Trust Mortgage

Chris Owens
Branch Manager / Loan Officer
NMLS# 211853
804.909.0184
email Southern Trust Mortgage

Tweets

  • It’s wise to follow mortgage rates, but don’t get to caught up nitpicking the rates, because once your locked in th… https://t.co/qLAjQT1QNf March 10, 2023 7:39 pm
  • Are you viewing a housing asset correct? ⁣ #rvahousing #rvarealtor #rvarealtors #rvahousinginsights… https://t.co/gJtuSo6Wkh March 10, 2023 7:35 pm
  • Your miscalculation could cost you. ⁣ #rvahousing #rvarealtor #rvarealtors #rvahousinginsights #onesouthrealtygroup… https://t.co/RqwoqwXaKH March 10, 2023 7:08 pm
  • Don’t lose money in real estate. Work with a trusted agent to build wealth through real estate. ⁣ #rvahousing… https://t.co/IRTHSroHBL March 10, 2023 7:05 pm
Our Network of Sites: RichmondVaNewHomes.net, RichmondVaMLS.net, RichmondLuxuryNeighborhoods.com,
RichmondFanRealEstate.net, RichmondVaMLSSearch.net, ChesapeakeBayMLS.com
Housekeeping: RVA Condos sitemap, Listings sitemap

All of the information displayed here is deemed to be gathered from reliable sources but no warranties, either express of implied, are made part of this site. Additionally, the IDX Feed for listing information may contain descriptions of properties not represented by One South Realty, its agents or staff and any violations or misrepresentations are the sole responsibility of the listing brokerage of the subject property in violation.


Equal Opportunity Realtor Disclaimer

I agree to provide equal professional service without regard to the race, color, religion, sex, handicap, familial status, national origin or sexual orientation of any prospective client, customer, or of the residents of any community. Any request from a home seller, landlord, or buyer to act in a discriminatory manner will not be fulfilled.