August 17, 2014

Bank Owned Weekly for the Week of August 17, 2014

foreclosure 2Kinda An Off Weekend for RVA, Wasn’t It? Other than VCU move in on Saturday it was a dead weekend. If you live anywhere near VCU this is one of my least favorite events of the year. Takes months for the students to learn how to cross the streets, if they ever do. YOU HAVE BEEN FOREWARNED!!!!

Here are the links for Bank Owned Weekly for August 17th in both Single Family Residences and Condos & Townhouses.

 Group 1 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 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 a Visual Tour of a NEW LISTING I have on Forest Hill near its intersection with Westover Hills Blvd (just across the “nickel” bridge). $119,000 gets you 4 bedrooms, 1 ½ baths, newer HVAC (heat pump), replacement windows, newer roof and more!

 http://www.visualtour.com/showvt.asp?t=3419111&prt=10003.

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

August 12, 2014

Richmond Real Estate Market Snapshot for July ’14

sold snapshot old

We continue to lag the sales of 2013 and July was no exception. Year to date sales are down some 13 % from the year before levels. Overall inventory levels are also down significantly which helps the Days on Market as well as the Months of Inventory percentages. Some areas (West End City and Midlothian) had very robust Julys. The market continues to be listless, while the Assets Managers for the REO properties act as though we’re in the hottest market ever. Although Chairwoman Yellen of the Federal Reserve has promised continued low mortgage rates and more quantitative easing, I can’t see this as a continuing trend. At some point, Wall Street will have a substantial correction and I fear what it will mean for the housing market.  

Here’s the Market Snapshot for July 2014:

For the 28 single family homes sold in
Fan & Museum District of the City of Richmond
(Fox and John B. Cary School Districts)
Average Sales Price in July $ 400,439
Median Sales Price …………..   $ 335,000
Sales Price/List Price Ratio …….. 98.9 %
Days on Market ………………… 27
Months of Inventory …………..  1.90

Average Size 3 bedrooms 2.5 baths of 2,317 sq ft
Average $ per square foot ………. $ 177.41

For the 42 homes sold in West End of the City of Richmond
(Zips 23221, 23226 and 23230)
Average Sales Price in July $ 505,614
Median Price …………………… $ 392,475
Sales Price/List Price Ratio ……. 97.4 %
Days on Market ………………… 41
Months of Inventory ………….. 1.45
Average Size 4 bedrooms, 2.5 baths of 2,360 sq ft
Average $ per square foot……..   $ 203.75

For the 20 homes sold on the Northside of the City of Richmond
(Holton School District)
Average Sales Price in July $ 316,188
Median Price ……………….  $ 272,750
Sales Price/List Price Ratio ……. 98.4 %
Days on Market ………………… 54
Months of Inventory ………….  1.90
Average Size 4 bedrooms, 2.5 baths of 2,357 sq ft
Average $ per square foot……..   $ 132.71

For the 33 homes sold on the Southside of the City of Richmond
(Zip 23225)
Average Sales Price in July $ 212,841
Median Price ……………….. $ 173,000
Sales Price/List Price Ratio ……. 98.4 %
Days on Market ………………… 33
Months of Inventory …………. 4.12
Average Size 3 bedrooms, 2.5 baths of 1,790 sq ft
Average $ per square foot……..   $ 115.44

For the 104 single family homes sold in West End of Henrico County
(Zips 23226, 23229, 23230, 23233, 23238)
Average Sales Price in July $ 375,220

Median Sales Price …………….  $ 314,975
Sales Price/List Price Ratio ……….  98.8 %
Days on Market ……………….    33
Months of Inventory ………….     2.33

Average Size 4 bedrooms 2.5 baths of 2,569 sq ft
Average $ per square foot ………. $ 140.98

For the 110 single family homes sold in Chesterfield
(Zips 23831, 23832, 23834, 23836, and 23838)
Average Sales Price for July $ 236,008
Median Sales Price ………….. $ 219,950
Sales Price/List Price Ratio …….. 98.7 %
Average Days on Market………… 51
Months of Inventory …………….. 4.16
Average Size 4 bedroom, 2.5 baths of 2,422 square ft
Average $ per square foot ………..$ 104.70

For the 79 single family homes sold in Glen Allen
(Zips 23059 and 23060)
Average Sales Price for July $ 372,862
Median Sales Price…………… $ 329,000
Sales Price/List Price Ratio ………  98.5 %
Average Days on Market ………….  47
Months of Inventory ……………  3.48

Average Size 4 bedrooms, 2.5 baths of 2,848 sq ft
Average $ per square foot……… $ 129.66

For the 95 single family homes sold in Mechanicsville
(Zips 23111 and 23116)
Average Sales Price for July $ 233,548
Median Price …………………  $ 220,000
Sales Price/List Price Ratio ……… 98.8 %
Average Days on Market …………. 56
Months of Inventory ……………  3.64
Average Size 4 bedrooms, 2.5 baths 2,032 sq ft
Average $ per square foot ……….. $ 116.92

For 151 single family homes sold in Midlothian
(Zips 23112, 23113, and 23114)
Average Sales Price for July $ 315,583
Median Price ………………… $ 275,000
Sales Price List Price Ratio …….    99.5 %
Average Days on Market ………… 48
Months of Inventory …………….  3.17

Average Size 4 bedrooms, 2.5 baths of 2,613 sq ft
Average $ per square foot……….. $ 119.37

August 11, 2014

Bank Owned Weekly for the Week of August 10, 2014

foreclosure 2So Who Will It Be? We’re into the back nine at Valhalla with a three way tie – Ricky, Henrik, and Phil. Of course Rory is just a few back and hasn’t done anything all day. So with a bunch of golf left to play, I’m pulling for Rory.

Here are the links for Bank Owned Weekly for August 10th in both Single Family Residences and Condos & Townhouses.

 Group 1 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 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.

I got a contract on the Ranch I had off Azalea, but I have listed a nice Cape on Forest Hill. Details next Sunday, but it is priced at $119,000.

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

August 4, 2014

Bank Owned Weekly for the Week of August 3, 2014

foreclosure 2If You Think Your Weekend Was Dreary, how would you have liked to be Bob and Maureen McConnell? A regular soap opera isn’t it? Well, if jurisprudence isn’t your bag, how about football? Yes, we have the New England Patriots joining the Deadskins in town as of Monday. And for you ladies that means Tom Brady is here. I am just wondering whether Gisele is with him!

Here are the links for Bank Owned Weekly for July 20th in both Single Family Residences and Condos & Townhouses.

 Group 1 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 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.

I still got a fantastic and AFFORDABLE renovation in Henrico. It’s only $109,500 and has 3 bedrooms and 1 bath. New siding, new windows, new kitchen, new bath, new flooring, yada, yada, yada. Here’s a link to a Visual Tour:

http://www.visualtour.com/show.asp?t=3395734&prt=10003

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

July 20, 2014

Bank Owned Weekly for the Week of July 20, 2014

foreclosure 2

The King Lives !!! Last night, I ventured to the Beacon theatre in Downtown Hopewell to see Elvis in concert. That’s right. THE KING. Well, not exactly, it was Doug Church, the “True Voice of Elvis, who supposedly is one of the best impersonator of the Big E.  I have to admit his voice was good, his Elvis mannerisms were on target, but the music although good was way TOO LOUD. By the way, the renovation at the Beacon is great and restores a 1928 “picture palace” to its rightful place.

Here are the links for Bank Owned Weekly for July 20th 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 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.

July 14, 2014

Bank Owned Weekly for the Week of July 13, 2014

foreclosure 2

Have You Ever Been to Hanover’s Tomato Festival ? Well, I have now. Sure was a lot of hoopla for a vegetable, but they do taste great even at the prices they want for them at the event. Last night, there was a free concert at Wilton house museum, which I also took in. Nothing like a little swing music on a mild summer night! Always something to do in RVA during the summer.

Here are the links for Bank Owned Weekly for July 13th 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 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.

Real Estate Market Snapshot for June 2014

sold snapshot old

Once again June ’14 sales lagged June ’13 sales and continues the lackadaisical Real Market for 2014. I do not understand all the hoopla about how great the Real Estate Market is. The market is listless; and with the exception of a few areas (i.e.; both the county and city in the West End, Glen Allen and Midlothian) is hardly keeping its head above water. I contribute this false pretense of market activity to the low inventory number for houses on the market. The months of inventory number is extremely low in all areas, which causes the days on market to also be low as new listings are gobbled up as soon as they hit the market. I ONCE again repeat, “Where’s the Spring Market?”  I still believe there are storm clouds on the horizon, especially if we see upward mortgage rates. While quantitative easing might be good for Wall Street, it holds real danger for Main Street.

Here’s the Market Snapshot for June 2014:

For the 33 single family homes sold in
Fan & Museum District of the City of Richmond
(Fox and John B. Cary School Districts)
Average Sales Price in June $ 396,515
Median Sales Price …………..   $ 349,500
Sales Price/List Price Ratio …….. 98.0 %
Days on Market ………………… 20
Months of Inventory …………..  1.48
Average Size 3 bedrooms 2.5 baths of 2,205 sq ft
Average $ per square foot ………. $ 183.28

For the 44 homes sold in West End of the City of Richmond
(Zips 23221, 23226 and 23230)
Average Sales Price in June $ 453,631
Median Price …………………… $ 382,500
Sales Price/List Price Ratio ……. 98.3 %
Days on Market ………………… 12
Months of Inventory ………….. 1.50
Average Size 4 bedrooms, 2.5 baths of 2,318 sq ft
Average $ per square foot……..   $ 192.41

For the 18 homes sold on the Northside of the City of Richmond
(Holton School District)
Average Sales Price in June $ 269,111
Median Price ……………….  $ 265,000
Sales Price/List Price Ratio ……. 98.7 %
Days on Market ………………… 21
Months of Inventory ………….  2.66
Average Size 3 bedrooms, 2.5 baths of 1,820 sq ft
Average $ per square foot……..   $ 152.94

For the 63 homes sold on the Southside of the City of Richmond
(Zip 23225)
Average Sales Price in June $ 222,701
Median Price ……………….. $ 196,000
Sales Price/List Price Ratio ……. 97.8 %
Days on Market ………………… 33
Months of Inventory …………. 2.25
Average Size 3 bedrooms, 2.5 baths of 1,793 sq ft
Average $ per square foot……..   $ 119.32

For the 138 single family homes sold in West End of Henrico County
(Zips 23226, 23229, 23230, 23233, 23238)
Average Sales Price in June $ 382,222
Median Sales Price …………….  $ 320,850
Sales Price/List Price Ratio ……….  98.4 %
Days on Market ……………….    29
Months of Inventory ………….     1.88

Average Size 4 bedrooms 2.5 baths of 2,638 sq ft
Average $ per square foot ………. $ 143.13

For the 150 single family homes sold in Chesterfield
(Zips 23831, 23832, 23834, 23836, and 23838)
Average Sales Price for June $ 238,013
Median Sales Price ………….. $ 234,000
Sales Price/List Price Ratio …….. 98.5 %
Average Days on Market………… 60
Months of Inventory …………….. 3.99
Average Size 4 bedroom, 2.5 baths of 2,365 square ft
Average $ per square foot ………..$ 101.00

For the 85 single family homes sold in Glen Allen
(Zips 23059 and 23060)
Average Sales Price for June $ 351,710
Median Sales Price…………… $ 306,680
Sales Price/List Price Ratio ………  98.9 %
Average Days on Market ………….  38
Months of Inventory ……………  3.15

Average Size 4 bedrooms, 2.5 baths of 2,606 sq ft
Average $ per square foot……… $ 130.41

For the 93 single family homes sold in Mechanicsville
(Zips 23111 and 23116)
Average Sales Price for June $ 272,524
Median Price …………………  $ 265,000
Sales Price/List Price Ratio ……… 98.4 %
Average Days on Market …………. 45
Months of Inventory ……………  3.41
Average Size 4 bedrooms, 2.5 baths 2,378 sq ft
Average $ per square foot ……….. $ 115.70

For 130 single family homes sold in Midlothian
(Zips 23112, 23113, and 23114)
Average Sales Price for June $ 309,634
Median Price ………………… $ 271,500
Sales Price List Price Ratio …….    98.5 %
Average Days on Market ………… 40
Months of Inventory …………….  3.60

Average Size 4 bedrooms, 2.5 baths of 2,606 sq ft
Average $ per square foot……….. $ 116.74

 

July 8, 2014

Bank Owned Weekly for the Week of July 6, 2014

foreclosure 2     Did You Have a Good Fourth ? I sure did! First, we went to First Friday at VMFA and heard some Brazilian Jazz while we downed a few adult beverages. From there, we rode our bikes to Dogwood Dell for the patriotic music and fireworks. And the Richmond Howitzers didn’t disappoint with their accompanying cannon fire. I’m still a little deaf from it.

Here are the links for Bank Owned Weekly for July 6th 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 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.

I’ve got another new listing in the Centralia area. This is a 4 bedroom 2.5  bath Colonial with transitional flair is priced at $229,000. It has a 2 Car garage, sits in a cul de sac and has a great back yard. Visual tour at the link below:

http://www.visualtour.com/show.asp?t=3382317&prt=10003

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

June 29, 2014

Bank Owned Weekly for the Week of June 29, 2014

foreclosure 2Almost the Fourth of July ! Typically, the week around the 4th of July is a very slow time for Real Estate. I don’t expect any change for this year either, although I have several new listings which I’ll be highlighting throughout this coming week. So pay attention to your inbox.

Here are the links for Bank Owned Weekly for June 29th 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 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 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.

I’ve got a great new listing in Salisbury which is a total makeover of the first home built by Mike Dumont in this area. In fact, it was his personal residence. See what happens when a Dumont contemporary is updated to today’s luxury standards. Offered at $549,000. Visual tour at the link below:

http://www.visualtour.com/show.asp?T=3378098

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

June 22, 2014

Bank Owned Weekly for the Week of June 22, 2014

foreclosure 2Happy Summer Solstice ! Well, it’s all downhill from here. Yesterday was the longest day of the year. I love the daylight but never pay much attention to the length of the day until the Fall Equinox which propels us towards the Winter Solstice on December 21st which is the shortest day of the year. I truly hate those late November days with their ever increasing earlier sunsets. It seems it takes us forever to get through January and February.

Here are the links for Bank Owned Weekly for June 22nd 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 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 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.

I forgot last week to include my Market Snapshot for May ’14. As I have alluded before, we are experiencing a fairly lackluster real estate year. Here’s the link for May:

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

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

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