August 31, 2014

Bank Owned Weekly for the Week of August 31, 2014

foreclosure 2Ah, Labor Day Weekend! Yesterday, I ventured to Charlottesville. No, not to take in the Game, but to take in some wineries. Started out at Jefferson Vineyard, which is down the road from Monticello and somewhat connected to TJ’s early dabbling in vino production in colonial Virginia. Since I was close by Michie Tavern, lunch was had there and didn’t disappoint. Next, it was on the Trump Winery; and like anything with the Trump’s name on it, it was larger than life. Probably the best tasting room and adjacent patio of anything I’ve encountered in Ole Virginny. After a quick stop for a beer at the Downtown Mall, it was home to Richmond. Amazing the Mall had quite a few UCLA’s fans on it. Go Bruins!

Here are the links for Bank Owned Weekly for August 31st 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.

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

August 27, 2014

Happy Labor Day … Where has Summer Gone?

cocky 2   I can’t believe how fast Summer has gone by. Here we are with Labor Day looming and I haven’t done half of what I wanted to accomplish this Summer. Yeah, I’ve heard lots of music in varying venues, discovered too many ”craft” beers along the way, had some historic jaunts that all centered on Patrick Henry, and invariably discovered what a great place to live is old RVA. With children back in schools next week, we’ll soon sink into that normalcy which is Fall.

And what could be more normal than college football? I am sure the Cavalosers will subject me another season of mediocrity, but with a daughter who is a rising junior at USC I can always root for the Gamecocks. Not to slight my son, Stuart, who finished UMW with a triple major just over a year ago, he finds himself working part time at VFMA and happy for the employment. He is considering law school. For him, and myself, I long for a better economy.

Which brings me to Real Estate. Despite what you hear or read, the Real Estate market is somewhat lackluster. Number of sales are down approximately 15% from 2013 levels. While there are pockets in the market which are performing quite well, any of this positive activity can be contributed to a shrinking inventory of homes for sale. I believe that many potential sellers are still underwater on their mortgages; and coupled with a still fragile economy, I don’t see the situation improving soon. I really fear what a mortgage rate increase might mean for the market. But enough of the gloom and doom!

I do want to make you aware of a fabulous listing I have in Salisbury. This home was the first house built by renowned local builder, Mike Dumont, when he relocated from Charlottesville to the Richmond area. A classic Dumont contemporary, it had become dated and in need of severe remodeling and modernization. Along came Kevin and Sandra Pratt who I have represented on several other makeovers. Kevin is the “brick and mortar” guy, while Sandra is “pizazz” provider. Voilá – a masterpiece! Home is sited opposite 3 golf course lots on the Huguenot nine of Salisbury GC. One of the lots has a transitional home of 4,600 square feet built in 2007, while the other two vacant lots were sold this year for $215,000 and $190,000 suggesting a built out value of million dollars each. Here’s a Visual Tour of the home which doesn’t do it justice, but will give you some perspective. Of course, I’d recommend seeing it live and up-close.

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

Hope this note finds you well and enjoying life. As always, I welcome your referrals.

August 26, 2014

Bank Owned Weekly for the Week of August 24, 2014

foreclosure 2Sure Doesn’t Feel Like August, Does It? Somewhat of a dreary weekend, but you can always find something to do in old RVA. Saturday, I wandered up to historic Hanover Courthouse for presentation of Patrick Henry’s “Parson’s Cause” case in 1763. Just like Henry’s “give me Liberty, or give me Death” speech presented at St. John’s Church, it was a wonderful presentation. It had many of the same players, too.

Here are the links for Bank Owned Weekly for August 24th 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 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

 

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