The Journey Home Newsletter - August 2023

Greetings! The whirlwind of August is upon us and the Sunday of summer has us all over the place getting in our last hoorahs of the season. August has a special place in my heart. Aside from birthdays and anniversaries, there are no holidays we typically celebrate yet, it is a time of great excitement for me. The family church back home holds revival starting the second Sunday in August and for the following week, folks from everywhere come to join in the revelries of inspiration and spiritual reawakening. As I reminisce of summers as a child, it was the days leading up to that first day of revival however, that brought the most joy. Cookouts at every house, tubing on the rivers with the cousins, seeing the new baby cousins, and conversations way into the summer night - it was awesome! When I was younger, I didn’t quite put it together the feeling I had during this time of year. I just knew I was extremely happy and didn't want the summer to end. Not much has changed with that. I still love these gatherings.

As I got older, it became more evident to me what revival time is all about. There is love, there is family, there is time for reflection, and remembering your creed - why your family is the family they are. The traditions have changed a little, but the euphoria remains. Sometimes new folks will come to visit and who knows what they may have heard about my family or what they may expect. It doesn’t even matter because there are a few things I know to be inevitable. . .they will leave feeling welcomed, well-fed, and part of the family whether they intended to or not. Hence, the branches of our family tree continues to grow in all sorts of ways. Ah yes! The Sunday of summer, August is, a delightful way to a summer’s end. What a way to celebrate the joy of your creed.

 Average 30-year fixed mortgage rate - 6.81%

 Average 15-year fixed mortgage rate - 6.11%

Source: www.freddiemac.com

 Central Virginia Median Home Price - $411, 000

Source: www.virginiarealtors.org

Market Trends

There are many homebuyers in the market and preparing to purchase real estate, but there is an interesting recent phenomenon taking place in the market. Many buyers are deciding to cancel purchase contracts amid unaffordable home prices paired with rising interest rates. This is another factor indicative of a slowing housing market at a time when transactions typically are at peak. What does this mean for the real estate market? It means that buyers may be able to regain some leverage at the negotiation point of the process. Over the past two years, we observed buyers engaging in bidding wars and foregoing home inspections - the very things we as real estate agents caution buyers to give careful consideration to before offering above asking price or waiving contingencies. These things limit the true affordability of a home in the long run for the buyer. That is, they may have to make costly repairs they could have resolved with an inspection and properly incorporating contingencies, leading to buyer’s remorse. Keeping watch for the rest of 2023.

Real Estate financing

In July, the home inspection was the focus, giving the buyer peace of mind and ensuring the property appraises for the requested loan amount. If the appraisal comes in at or above the contract price, the transaction continues and the loan goes to underwriting. If the property fails to appraise for the requested loan amount, the transaction is interrupted, as the buyer no longer qualifies for the contracted amount to purchase the property. However, barring any challenges with the appraisal, the loan then goes to underwriting. Here, the underwriter looks at the credit, debt-to-income ratio, and any information in the credit profile to measure the risk of the borrower, then makes the determination of whether to approve or reject the loan request. The time it takes to complete this part of the process depends on whether there are any credit issues to resolve. Once the loan is approved, the buyer is ready to close. KimberlyKyle.UnitedRealEstateRVA.com

Homes of the Future

A rotating solar powered house? Yes, that is what you see here. This energy-producing home is called the Heliotrope, an architectural marvel located in Freiburg, Germany. As you can see, it has a crown of solar panels which provide energy for the home however, the real spectacle of this whirling wonder is that it rotates with the sun. There are smaller windows on one side of the house so, in the warm summers, the house turns to the sun keeping the other side of the house cool. The opposite side of the house has larger windows and faces the sun during the winter. During this season, the larger windows allow for more sunlight and heats the house. How amazing is that? With a price tag of $2 million to build, you can change your interior, your landscaping, and your view!

Technology for the

Mirror, mirror on the wall, this smart bath mirror does it all! Imagine getting dressed in the morning and being able to see the weather, listen to music, and fix your face all with a touch or two. With a Smart Mirror (sometimes called a Magic Mirror) it’s like having a cell phone mounted on your wall except all of the apps are in the mirror. It has speakers, too. Connect it to a home network or wi-fi to operate the Windowsbased apps and have it all available at your fingertips. The apps can be programmed to operate in a variety of languages and comes in a wide array of shapes and sizes. It’s a very advanced, contemporary, and a unique addition to a restroom routine. The prices for these sleek Magic Mirrors can range anywhere from about $200 to $3,500 depending on how sophisticate the technology. Loving the look! Awesome!

Photos courtesy of

Photos Courtesy of

August 5

Upcoming events

August 10

Financial Empowerment Series - City of Richmond

Office of Community Wealth Building & Office of the City Treasurer

Saturdays 1:00 - 2:00 pm - Virtual

https://www.rva.gov/community-wealth-building/calendar

Remarkable Women’s Luncheon - Metropolitan Business League

12:00 - 3:00 pm - The Dominion Club - 6000 Dominion Club Dr. in Glen Allen, VA

www.thembl.org

August 12-13

Richmond Jazz Festival - Presented by Altria

12:00 - 9:00 pm - 1710 Hampton St. in Richmond, VA

August 20

The Colors of Music Summer Concert - Agecroft Hall

6:00 - 7:30 pm - Agecroft Hall - 4305 Sulgrave Rd. in Richmond, VA

www.thembl.org

August 26

www.richmondjazzandmusicfestival.com KimberlyKyle.UnitedRealEstateRVA.com

The Crosswind Cup - The Crosswinds Foundation

9:00 am - 2:00 pm - Robius Landing Park - 2800 James River Rd. in Midlothian, VA

https://www.chesterfield.gov/150/Parks-and-Recreation

DIY & Decorating - Mini Fire bowl

Subtle lighting and an insect repellent are two super benefits to making this mini-fire bowl. An easy project, it give a unique touch to a close, intimate space without overpowering the space. To make this nice tabletop decoration, get a round concrete planter, sand, a canister of gel fuel, glass rocks, and chicken wire. First, fill the bottom of the planter with enough sand to ensure the canister is one inch below the top of the planter. Cut enough chicken wire to fit just inside of the rim of the planter. Fold the edges of the wire down to fit the planter. Take the lid off of the canister and place it on tope of the sand in the planter. Place the chicken wire on top allowing some space around the canister. Arrange the glass rocks on top of the wire. Make sure the wick of the canister is visible. Move any rocks if necessary and light the wick of the canister then move them back over the flame after lit. Enjoy the glow!

Easy Edibles - Mocktail Sangria

A delicious sipping experience, the mocktail Sangria is a favorite for all to enjoy!

You will need:

 Fresh lemon slices

 Fresh lime slices

 Fresh orange slices

 Cranberries

 2 cups cranberry juice

 2 cups grape juice

 1 cup orange juice

 1/2 cup lemon juice

 4 cups sparkling mineral water or lemon-lime soda, chilled www.lovebakesgoodcakes.com

1. In a large pitcher, add the lemon slices, lime slices, orange slices, and cranberries.

2. Add cranberry juice, grape juice, orange juice and lemon juice. Stir well.

3. Refrigerate until ready to use.

4. Just before serving, add the sparkling mineral water or lemon-lime soda.

5. Mix well and serve chilled.

6. Enjoy the deliciousness!

© 2023 Kimberly J. Kyle

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