October 20, 2014

Bank Owned Weekly for the Week of October 19, 2014

foreclosure 2     Yeah, I Know I’m Late, But I’ve Got a Good Excuse! See last week I finally broke down and got an iPhone. Now before you accuse me of getting an i-6, I want you to know it was a FREE i-5. I even had no problem setting up my email on it either, except I didn’t notice I wasn’t getting all of my emails until Saturday. See Saturday is my day to create the links I send out on Sunday for Bank Owned Weekly. Only problem was the links I was sending to myself I wasn’t receiving. Being a smart guy and now with a SMART phone, I just assumed it was a problem with the email in the Matrix system; and since the Richmond Association of Realtors is closed on weekends, there was nothing I could do until Monday. So I called RAR this morning convinced that the system had a problem. When RAR suggested I check my Spam folder I just guffawed. Oh, no, there’s no way that could be the problem. I have used Outlook for my email for years and it knows exactly what I consider spam. Guess what, somebody didn’t tell Apple, specifically me.

We went to the Forbidden City exhibition on Saturday at VMFA. You should see it. Glad FSU beat the Irish. And how about Peyton!

Here are the links for Bank Owned Weekly for October 19th Single Family Residences and Condos & Townhouses.

Group 1 of Single Family Homes in West End Richmond.

Group 2 of Single Family Homes in West End Richmond.

Group 1 of Townhouses and Condominiums for West End Richmond.

Group 2 of Townhouses and Condominiums for West End Richmond.

Group 1 of Single Family Homes in Glen Allen.

Group 2 of Single Family Homes in Glen Allen.

Group 1 of Townhouses and Condominiums for Glen Allen.

Group 2 of Townhouses and Condominiums for Glen Allen.

Group 1 of Single Family Homes in Western Chesterfield.

Group 2 of Single Family Homes in Western Chesterfield.

Group 1 of Townhouses and Condominiums for Western Chesterfield.

Group 2 of Townhouses and Condominiums for Western Chesterfield.

If you want to see anything, feel free to call either Laura, 804.339.6607, or me, 804.301.7598.

October 12, 2014

Bank Owned Weekly for the Week of October 12, 2014

foreclosure 2     Do Anything Fun This Weekend? My weekend was kind of blah – just like the weather. We did have a couple of invites which were nice affairs, but all and all it was pretty uneventful weekend. College football was of no interest with the Cavalosers, Hokies, and Cocks all having byes, but I think a team with Mississippi in the name will be # 1. Oh, did you see the Heels gave the Irish a real fight? I think ND is ranked way too high!

Here are the links for Bank Owned Weekly for October 12th Single Family Residences and Condos & Townhouses.

Group 1 of Single Family Homes in West End Richmond.

Group 2 of Single Family Homes in West End Richmond.

Group 1 of Townhouses and Condominiums for West End Richmond.

Group 1 of Single Family Homes in Glen Allen.

Group 2 of Single Family Homes in Glen Allen.

Group 1 of Townhouses and Condominiums for Glen Allen.

Group 2 of Townhouses and Condominiums for Glen Allen.

Group 1 of Single Family Homes in Western Chesterfield.

Group 1 of Townhouses and Condominiums for Western Chesterfield.

Group 2 of Townhouses and Condominiums for Western Chesterfield.

And here’s a link to my Metro Richmond Real Estate Market Snapshot for September 2014:

http://blog.bricksmith.com/metro-richmond-real-estate-snapshot-for-september-2014/

If you want to see anything, feel free to call either Laura, 804.339.6607, or me, 804.301.7598.

October 10, 2014

I Love Fall, Don’t You?

sold sign 2      Hope this note finds you well and enjoying the Fall. This time of year is so special. Every weekend is filled with so many things to do. As an example, this Friday kicks off the 3 day Richmond Folk Festival. Held on the Downtown riverfront between 2nd and 7th Streets including Brown’s Island and Tredegar, this shindig offers plenty of music on various stages along with artisans of every description and ethic food beyond compare. For more information, visit  www.RichmondFolkFestival.com.

Of course, you don’t have to stay in RVA to find some fun Fall frolics. Later this month, I am planning a Skyline Drive visit once the leaves change with a stop at Swannonoa on Afton Mountain. If you’re not familiar with Swannonoa, it was built by James Dooley of Maymont fame as a “summer place”. It is open weekends for tours. Of special interest are its Tiffany stained glass windows. And don’t forget, there are many wineries and vineyards surrounding Charlottesville.

Real Estate continues to be challenging, although the market has improved some from its lackadaisical start in 2014. The Dodd Frank Act continues to complicate lending for those seeking financing and is a prime example of the pendulum swinging too far. Here’s a link to my blog and the Metro Richmond Real Estate Snapshot for September:

http://blog.bricksmith.com/metro-richmond-real-estate-snapshot-for-september-2014/

Finally, I could use a little help with this property in Salisbury. I was probably overly optimistic in pricing this initially, since I was met with immediate sales resistance from other agents. This surprised me since I felt if other agents questioned my pricing they would at least take a look at it out of curiosity. After all, I have been in the Real Estate business for over 30 years now and should know how to price something. Unfortunately, this is one of the changes I don’t like about Real Estate at present. The proliferation of Trulia and Zillow make everyone an instant “expert” and analytic skills aren’t used anymore.

Anyway, the property is located at 13330 Olde Stonegate Road in Salisbury. It is a soft contemporary originally built by Mike Dumont. In fact, it was the first property Dumont built in this area when he relocated from Charlottesville; and was his personal residence, too.  It has been modernized and significantly updated by the current owners and is only for sale since I found them their “dream” farmland. The property is listed for $499,000 and is an easy show. Here’s a Visual Tour for the home:

http://www.visualtour.com/show.asp?t=3378098&prt=10003

And now for the sales pitch. If you know of anyone who is looking to buy or sell a home, I would appreciate you introducing me to them. Have a great Fall!

October 9, 2014

Metro Richmond Real Estate Snapshot for September 2014

sold snapshot old     Hooray!!! Two consecutive good months! September ’14 exceeded September ’13 number of sales by some 10 % narrowing 2014 versus 2013 to a deficient of less 9 % in total units sold. We had been lagging 2013 by over 13 % as recent as July. Whether we can make up the difference before the end of the year is doubtful; but let’s not dwell on the negative!  Although overall units for sale increased again in September, the market remains relatively strong. All areas have Months of Inventory of less than 5 months, with the majority of areas having less than 3 months. Discounting (Sales Price/List Price) averaged less than 2 %. Days on Market were less than 49 days. Whenever Days on Market is less than 60 days the Metro Richmond Real Estate Market is very strong. Now, don’t take my hooray as all is great with market. I am still concerned with the shortfall in the number of sales. And yes, I heard Obama reassure John Q. Public the other day that the economy was booming; and it’s just that we’re not feeling it. Well, I am not feeling this Real Estate Boom either that the media says is happening. Maybe it’s because I have been compiling and publishing these stats for many years!!!!

Here’s the Market Snapshot for September  2014:

For the 20 single family homes sold in
Fan & Museum District of the City of Richmond
(Fox and John B. Cary School Districts)
Average Sales Price in September $ 386,492
Median Sales Price …………..   $ 308,000
Sales Price/List Price Ratio …….. 97.4 %
Days on Market ………………… 28
Months of Inventory …………..  2.50
Average Size 4 bedrooms 2.5 baths of 2,276 sq ft
Average $ per square foot ……….$ 165.01

For the 27 homes sold in West End of the City of Richmond
(Zips 23221, 23226 and 23230)
Average Sales Price in September $ 441,939
Median Price …………………… $ 320,000
Sales Price/List Price Ratio ……. 97.3 %
Days on Market ………………… 42
Months of Inventory ………….. 2.48
Average Size 4 bedrooms, 2 ½ baths of 2,303 sq ft
Average $ per square foot……..   $ 184.33

For the 16 homes sold on the Northside of the City of Richmond
(Holton School District)
Average Sales Price in September $ 235,801
Median Price ……………….  $ 222,500
Sales Price/List Price Ratio ……. 98.1 %
Days on Market ………………… 34
Months of Inventory ………….  1.94
Average Size 3 bedrooms, 2.5 baths of 1,910 sq ft
Average $ per square foot……..   $ 127.54

For the 30 homes sold on the Southside of the City of Richmond
(Zip 23225)
Average Sales Price in September $ 193,272
Median Price ……………….. $ 197,000
Sales Price/List Price Ratio ……. 98.0 %
Days on Market ………………… 52
Months of Inventory ………….  4.33
Average Size 3 bedrooms, 2 ½ baths of 1,797 sq ft
Average $ per square foot……..   $ 110.04

For the 89 single family homes sold in West End of Henrico County
(Zips 23226, 23229, 23230, 23233, 23238)
Average Sales Price in September $ 399,131
Median Sales Price …………….  $ 313,500
Sales Price/List Price Ratio ……….  95.7 %
Days on Market ……………….    42
Months of Inventory ………….     2.73

Average Size 4 bedrooms 2.5 baths of 2,699 sq ft
Average $ per square foot ………. $ 141.10

For the 117 single family homes sold in Chesterfield
(Zips 23831, 23832, 23834, 23836, and 23838)
Average Sales Price for September $ 240,051
Median Sales Price ………….. $ 219,000
Sales Price/List Price Ratio …….. 99.0 %
Average Days on Market………… 72
Months of Inventory …………….. 5.21
Average Size 4 bedroom, 2.5 baths of 2,363 sq ft
Average $ per square foot ………..$ 101.17

For the 75 single family homes sold in Glen Allen
(Zips 23059 and 23060)
Average Sales Price for September $ 369,388
Median Sales Price…………… $ 332,000
Sales Price/List Price Ratio ………  99.4 %
Average Days on Market ………….  48
Months of Inventory ……………  3.29

Average Size 4 bedrooms, 3.5 baths of 2,847 sq ft
Average $ per square foot……… $ 131.73

For the 72 single family homes sold in Mechanicsville
(Zips 23111 and 23116)
Average Sales Price for September $ 259,136
Median Price …………………  $ 229,500
Sales Price/List Price Ratio ……… 99.3 %
Average Days on Market ………….  55
Months of Inventory ……………  4.9
Average Size 4 bedrooms, 2.5 baths 2,147sq ft
Average $ per square foot ……….. $ 122.70

For 123 single family homes sold in Midlothian
(Zips 23112, 23113, and 23114)
Average Sales Price for September $ 318,754
Median Price ………………… $ 277,015
Sales Price List Price Ratio …….    98.7 %
Average Days on Market ………… 64
Months of Inventory …………….  3.91

Average Size 4 bedrooms, 2.5 baths of 2,636 sq ft
Average $ per square foot……….. $ 118.60

 

October 5, 2014

Bank Owned Weekly for the Week of October 4, 2014

foreclosure 2     Lazy Weekend For Me, What About You? Well, I might as well keep my laziness going, so this report will be short. Oh, the Cavalosers improved to 4-2 and are 2-0 in the ACC. Miracles never cease. Hokies won big over the Heels. And ‘Bama lost!

Here are the links for Bank Owned Weekly for October 4th Single Family Residences and Condos & Townhouses.

Group 1 of Single Family Homes in West End Richmond.

Group 2 of Single Family Homes in West End Richmond.

Group 1 of Townhouses and Condominiums for West End Richmond.

Group 1 of Single Family Homes in Glen Allen.

Group 2 of Single Family Homes in Glen Allen.

Group 1 of Townhouses and Condominiums for Glen Allen.

Group 2 of Townhouses and Condominiums for Glen Allen.

Group 1 of Single Family Homes in Western Chesterfield.

Group 1 of Townhouses and Condominiums for Western Chesterfield.

Group 2 of Townhouses and Condominiums for Western Chesterfield.

If you want to see anything, feel free to call either Laura, 804.339.6607, or me, 804.301.7598.

September 29, 2014

Bank Owned Weekly for the Week of September 28, 2014

foreclosure 2Busy Weekend, Wasn’t It? Phew! I am beat. So much to do this weekend! Saturday, we spent the afternoon at Tredegar where they had several “living” historians giving presentations that were in competition with all the activity of Pridefest on Brown’s Island. Late in the afternoon, we had a beer at Legends where they were celebrating Oktoberfest complete with the Pipes and Drum Corps. Last night we had dinner at Julep’s, where close by there was the Italian Festival at 17th Street Market winding down. On the way home, Main Street was blocked for another Oktoberfest at Capital Ale House, which had been going since 11:30 in the morning. Oh, and today, we’re going to a matinee of the 75th Anniversary of Gone With the Wind on the big screen at Regal Cinema at Short Pump.

Here are the links for Bank Owned Weekly for September 28th in both Single Family Residences and Condos & Townhouses.

Group 1 of Single Family Homes in West End Richmond.

Group 2 of Single Family Homes in West End Richmond.

Group 1 of Townhouses and Condominiums for West End Richmond.

Group 1 of Single Family Homes in Glen Allen.

Group 2 of Single Family Homes in Glen Allen.

Group 1 of Townhouses and Condominiums for Glen Allen.

Group 2 of Townhouses and Condominiums for Glen Allen.

Group 1 of Single Family Homes in Western Chesterfield.

Group 1 of Townhouses and Condominiums for Western Chesterfield.

Group 2 of Townhouses and Condominiums for Western Chesterfield.

If you want to see anything, feel free to call either Laura, 804.339.6607, or me, 804.301.7598.

 

September 21, 2014

Bank Owned Weekly for the Week of September 21, 2014

foreclosure 2    What Did You Do for the Last Weekend of Summer? We were kind of lazy and didn’t venture too far from home. Saturday found us riding our bikes down to Capitol Square with a couple of stops at watering holes like Rappahannock and Saison on the way home. Might wander over to Oktoberfest at Benedictine this afternoon. It is still September, isn’t it? Gotta love those Cadets! Oh, and in case you cared, the Cavalosers took it on the chin and the Hokies LOST again at Lane!

Here are the links for Bank Owned Weekly for September 21st in both Single Family Residences and Condos & Townhouses.

Group 1 of Single Family Homes in West End Richmond.

Group 2 of Single Family Homes in West End Richmond.

Group 1 of Townhouses and Condominiums for West End Richmond.

Group 1 of Single Family Homes in Glen Allen.

Group 2 of Single Family Homes in Glen Allen.

Group 1 of Townhouses and Condominiums for Glen Allen.

Group 2 of Townhouses and Condominiums for Glen Allen.

Group 1 of Single Family Homes in Western Chesterfield.

Group 1 of Townhouses and Condominiums for Western Chesterfield.

Group 2 of Townhouses and Condominiums for Western Chesterfield.

If you want to see anything, feel free to call either Laura, 804.339.6607, or me, 804.301.7598.

September 14, 2014

Bank Owned Weekly for the Week of September 14, 2014

foreclosure 2    What? UVA Wins, Tech Loses. How’s That Happen? Thought the Cavalosers were going to choke again yesterday, but London got lucky. And what happened to the Hokies and at home? Makes their match up at Lane in November somewhat interesting. And how about those Gamecocks? What a win over the Dawgs!

Here are the links for Bank Owned Weekly for September 14th in both Single Family Residences and Condos & Townhouses.

Group 1 of Single Family Homes in West End Richmond.

Group 2 of Single Family Homes in West End Richmond.

Group 1 of Townhouses and Condominiums for West End Richmond.

Group 1 of Single Family Homes in Glen Allen.

Group 2 of Single Family Homes in Glen Allen.

Group 1 of Townhouses and Condominiums for Glen Allen.

Group 2 of Townhouses and Condominiums for Glen Allen.

Group 1 of Single Family Homes in Western Chesterfield.

Group 2 of Single Family Homes in Western Chesterfield.

Group 1 of Townhouses and Condominiums for Western Chesterfield.

Group 2 of Townhouses and Condominiums for Western Chesterfield.

My Real Estate Market Snapshot for August is published. Here’s the link:

http://blog.bricksmith.com/greater-richmond-real-estate-market-snapshot-for-august-2014/

If you want to see anything, feel free to call either Laura, 804.339.6607, or me, 804.301.7598.

September 13, 2014

Greater Richmond Real Estate Market Snapshot for August 2014

sold snapshot old      We continued to muddle through the Real Estate Market in Greater Richmond in August. Although there was some improvement over the dismal results of July ’14, August ’14 proved to be almost equal in number of units sold to August ’13. Yet we still lag ’13 total units sold by roughly 1,000 units; and since there are two sides to a transaction, we agents are getting by on far less. This is an 11% drop in sales in 2014 sales from 2013 sales. Who says the Real Estate Market is booming? Sales Price/List Price ratios increased in most submarkets in August indicating greater discounting by sellers. As would be expected, Days on Market also increased generally.  Have no fear, I’ll continue to monitor the market.

Here’s the Market Snapshot for August 2014:

For the 23 single family homes sold in
Fan & Museum District of the City of Richmond
(Fox and John B. Cary School Districts)
Average Sales Price in August $ 392,753
Median Sales Price …………..   $ 318,000
Sales Price/List Price Ratio …….. 97.7 %
Days on Market ………………… 34
Months of Inventory …………..  2.30
Average Size 3 bedrooms 2.5 baths of 2,108 sq ft
Average $ per square foot ……….$ 184.87

For the 34 homes sold in West End of the City of Richmond
(Zips 23221, 23226 and 23230)
Average Sales Price in August $ 433,799
Median Price …………………… $ 385,000
Sales Price/List Price Ratio ……. 96.7 %
Days on Market ………………… 28
Months of Inventory ………….. 1.91
Average Size 4 bedrooms, 2 ½ baths of 2,296 sq ft
Average $ per square foot……..   $ 190.51

For the 15 homes sold on the Northside of the City of Richmond
(Holton School District)
Average Sales Price in August $ 226,337
Median Price ……………….  $ 221,000
Sales Price/List Price Ratio ……. 97.0 %
Days on Market ………………… 48
Months of Inventory ………….  2.26
Average Size 4 bedrooms, 2.5 baths of 1,935 sq ft
Average $ per square foot……..   $ 117.80

For the 49 homes sold on the Southside of the City of Richmond
(Zip 23225)
Average Sales Price in August $ 193,088
Median Price ……………….. $ 160,000
Sales Price/List Price Ratio ……. 98.1 %
Days on Market ………………… 55
Months of Inventory ………….  2.77
Average Size 3 bedrooms, 2 ½ baths of 1,762 sq ft
Average $ per square foot……..   $ 108.01

For the 95 single family homes sold in West End of Henrico County
(Zips 23226, 23229, 23230, 23233, 23238)
Average Sales Price in August $ 392,708
Median Sales Price …………….  $ 287,500
Sales Price/List Price Ratio ……….  97.3 %
Days on Market ……………….    34
Months of Inventory ………….     2.55

Average Size 4 bedrooms 2.5 baths of 2,582 sq ft
Average $ per square foot ………. $ 148.36

For the 118 single family homes sold in Chesterfield
(Zips 23831, 23832, 23834, 23836, and 23838)
Average Sales Price for August $ 238,177
Median Sales Price ………….. $ 224,500
Sales Price/List Price Ratio …….. 98.4 %
Average Days on Market………… 69
Months of Inventory …………….. 5.22
Average Size 4 bedroom, 2.5 baths of 2,357 sq ft
Average $ per square foot ………..$ 101.40

For the 92 single family homes sold in Glen Allen
(Zips 23059 and 23060)
Average Sales Price for August $ 379,544
Median Sales Price…………… $ 380,500
Sales Price/List Price Ratio ………  99.7 %
Average Days on Market ………….  41
Months of Inventory ……………  2.75

Average Size 4 bedrooms, 3.5 baths of 2,723 sq ft
Average $ per square foot……… $ 136.05

For the 89 single family homes sold in Mechanicsville
(Zips 23111 and 23116)
Average Sales Price for August $ 256,504
Median Price …………………  $ 237,500
Sales Price/List Price Ratio ……… 98.25 %
Average Days on Market ………….  55
Months of Inventory ……………  3.56
Average Size 4 bedrooms, 2.5 baths 2,155 sq ft
Average $ per square foot ……….. $ 122.32

For 135 single family homes sold in Midlothian
(Zips 23112, 23113, and 23114)
Average Sales Price for April $ 310,574
Median Price ………………… $ 269,950
Sales Price List Price Ratio …….    99 %
Average Days on Market ………… 52
Months of Inventory …………….  3.49

Average Size 4 bedrooms, 2.5 baths of 2,598 sq ft
Average $ per square foot……….. $ 117.89

September 7, 2014

Bank Owned Weekly for the Week of September 7, 2014

foreclosure 2   Kinda A Dead Weekend Except for Tech! All week I was bemoaning that it was sorta a dead weekend in old RVA, except for the race out at RIR. Which BTW, was won by Brad Keselowski.Who? Yeah, I said it was a dead weekend. At least he was driving the Miller Lite # 2 car. But what about Tech beating Ohio State at the Big House? Beamer does it again!

Here are the links for Bank Owned Weekly for September 7th in both Single Family Residences and Condos & Townhouses.

Group 1 of Single Family Homes in West End Richmond.

 Group 2 of Single Family Homes in West End Richmond.

Group 1 of Townhouses and Condominiums for West End Richmond.

 Group 1 of Single Family Homes in Glen Allen.

 Group 2 of Single Family Homes in Glen Allen.

 Group 1 of Townhouses and Condominiums for Glen Allen.

 Group 2 of Townhouses and Condominiums for Glen Allen.

 Group 1 of Single Family Homes in Western Chesterfield.

 Group 2 of Single Family Homes in Western Chesterfield.

 Group 1 of Townhouses and Condominiums for Western Chesterfield.

 Group 2 of Townhouses and Condominiums for Western Chesterfield.

Here’s something I wrote about NASCAR & RIR some years ago.

http://blog.bricksmith.com/rubbin-is-racin/

If you want to see anything, feel free to call either Laura, 804.339.6607, or me, 804.301.7598.

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