Petersburg; A great place to live, a great place to invest!

Historic Petersburg Courthouse

It’s common knowledge that Richmond Real Estate is healthy and growing.  While the market for renovations is still strong, competition is growing along with prices and that means shrinking returns for investors.  So unless you have max buying power, it’s getting harder and harder to find those diamonds in the rough. As the market saturates in Richmond, investors are looking beyond the Greater Richmond area to up-and-coming Petersburg, Virginia!

Homefields' sold listing in the heart of Folly Castle Historic District
This home, built between 1790-1820, has most of its original features

Like Richmond, Petersburg shares a rich history that you can experience first hand.  In fact, many homes you can find in the historical Walnut Hill district pre-date homes in Richmond many of which were destroyed in the fire of 1865.  At the turn of the century, Petersburg was the richest city on the east coast and many of the architects that built some of the most notable homes in RVA (think Windsor Farms and River Road) also designed many homes in the affluent streets of Petersburg in its heyday.

Homefields' recently sold listing on W. Washington St. in Petersburg, VA

Gina Harrison's sold listing on S. Crater Rd. in Petersburg, VA

“It’s a beautiful town with a huge amount of potential,” says Gina Harrison, a recent client of Homefields’ who listed and sold her gorgeous 3.5-acre historical renovation.  “The homes are spectacular and Richmonders are taking advantage of great prices,” she continues.  This is not just true for the residential market, either.  Many small businesses are blossoming in historical downtown Petersburg, taking advantage of cheap rent and an unsaturated market.  Lots of local eateries, breweries, and other small businesses have steadily gained recognition and foot traffic.

Butterworth building, Trapezium Brewery, and King's Famous BBQ
which has been around since 1946

The renovation of former Butterworth Furniture Building into the Ward Center for Contemporary Arts, using historical tax credits, was the beginning of Petersburg’s cultural renaissance in 2014, according to Style Weekly. "Now that more affordable living and working space has become available, artists are renting or buying and renovating older spaces for homes, galleries or studios. More restaurants are popping up, including ones with Richmond roots such as Croaker's Spot,” Style reports.








Historical Tax Credits aren’t just limited to enterprise.  Individuals can apply for these tax incentives on their own home purchase!

Petersburg is swiftly becoming the new hotspot to be in Virginia.  If you're looking to invest, look no further than the historic streets of Petersburg, where you can find not only beautiful homes but a great place to live!

Traylor Estates Riverfront Community

We had a great time sharing food and fun at the Traylor Estates' riverfront park this past Saturday!  It is such a great community and was so great to welcome new neighbors!

Traylor Estates is a gorgeous, tree-lined community with approximately 150 homes on private wooded lots.  It's civic and homeowner associations are self-managed, which truly encourages its residents to become involved within the community.

The true gem of this neighborhood is the gated, 2.53 acre riverfront property that is shared by all the members of the community.  With a charcoal grill, picnic areas, and a boat landing, this park is a great place for family and friend gatherings throughout the seasons!

There are currently two listings available in this neighborhood, so if you love being surrounded by nature, with the convenience of nearby shopping and dining, give us a call to see Traylor Estates!

A Gem in Historical Petersburg!

We have an amazing property just listed in Historical Petersburg!  This home is truly unique and is just waiting for the right owner to restore it to its full glory!  The price is right, not to mention all the amazing tax breaks that come along with buying a home like this in the up and coming Petersburg area!  Call to make an appointment today! 

Welcome to the Homefields Advantage!

Welcome to the Spring Real Estate Market!  We have been seeing so much exciting growth in Richmond these past few years.  Named the fourth hottest Real Estate market by Zillow last year, 2017 is already shaping up to break some records of its own!  With low inventory, new construction and home prices are on the rise.  However, mortgage rates remain low while credit availability is increasing. That means now is a great time all around to find your next dream home!  

If you’re thinking about entering the market, Homefields, a Virginia Properties division will gladly offer a Comparative Market Analysis (CMA) on your current property.  Even if now isn’t the right time to sell, a CMA can help any homeowner make the right decision on improvements to enjoy now while increasing the value of your home!

We would like to thank all of those who have helped Homefields grow for their support and referrals!  We pride ourselves in treating every one of our customers like family and invite you to experience the Homefields Advantage!

Visit our new and improved website at Homefields.net

and Like us on Facebook! Facebook.com/HomefieldsAdvantage  

Smart Home Benefits

With just a few "Smart" upgrades, you can increase your home's value, safety, and energy efficiency! What homeowner doesn't want that?!

How To Buy A Duplex: The Ultimate Guide

Have you ever thought of buying a duplex?  Finding a good deal on a duplex can be a great way to springboard your way into the world or real estate investment.  It isn't as easy as it may seem and finding the right deal is crucial to a return on your investment.  Here is a great article by BiggerPockets.com that goes over the basics of buying a duplex.

How To Buy A Duplex The Ultimate Step By Step Guide

Richmond Is the Nation's 4th Hottest Housing Market

Richmond is the Nations 4th Hottest Housing Market 

These houses at 616 N. 31st St. and 618 N. 31st St. in Church Hill are each on the market for $414,950. Church Hill was among the hottest neighborhoods in Richmond, according to a Zillow prediction, with a forecast of 6.7 percent in home value growth in 2016.
Richmond scored as the nation’s fourth-hottest housing market in 2016 in a prediction released Tuesday by Zillow, a real estate and rental data firm.

By CAROL HAZARD Richmond Times-Dispatch  

Denver, Seattle and Dallas-Fort Worth top the list, based on home value appreciation, current unemployment rates and recent income growth. All are major tech towns, ideal for job growth, according to the prediction.

Richmond scored lower in the forecast for home value appreciation — 2.2 percent this year — than the 10 hottest markets but strongest in income growth at 1.2 percent and lower than three other cities with an unemployment rate of 4.4 percent.

A strong and diverse economy is the driving force behind Richmond’s high-income growth, with government, finance, education and manufacturing strong and expected to continue in 2016, according to the report.

The hottest neighborhoods here, according to the prediction, are all in the city: Church Hill, with a forecast of 6.7 percent in home value growth; followed by Carytown with a 5.3 percent home value growth; the Fan District at a 4.8 percent growth; northern Barton Heights with a 4.7 percent growth; and Forest Hill Terrace at 4.6 percent.

“Trendy tech centers like San Francisco, Seattle and Denver hogged the spotlight in 2015. But this year, the markets that shine brightest will be those that manage to strike a good balance between strong income growth, low unemployment and solid home value appreciation,” said Zillow’s chief economist, Svenja Gudell.


“As the job market continues to hum and opportunity becomes more widespread, the best housing markets are no longer limited to the coasts or one-industry tech towns. This year’s hottest markets have something for everyone, whether they’re looking for somewhere to raise a family or start their career.”

Rounding out the top 10 housing markets by Zillow for 2016 are Boise, Idaho; Ogden, Utah; Salt Lake City; Omaha, Neb.; Sacramento, Calif., and Portland, Ore.

Omaha has the lowest unemployment rate of the 10 hottest markets, at 2.9 percent. Denver saw home values rise 16 percent in 2015, and Zillow is forecasting them to rise an additional 5 percent in 2016.

Boise, Ogden, Salt Lake City and Sacramento all have high home value appreciation forecasts, with values expected to appreciate an average of about 5 percent this year.

Check out the original article