Brick’s Blog

     Ready for a trip down Memory Lane? While I don’t think either of my picks this week are particularly attractive at their current list prices, they once again prove the point that these foreclosures are EVERYWHERE!

     I’d make both of these picks “Radar” properties. Forgot or don’t know what I mean by “Radar” Properties? Then watch this refresher lesson.

     And my Hollywood contest couldn’t be any easier this week. Remember I need the actor’s name, role, and movie for you to win the Starbucks gift card.

    I am booked tight all weekend, but if you want to see anything call me (804.301.7598) and I’ll get one of my team members to get you in. Have a great weekend.

     This morning I was watching a movie, A Date with Tad Hamilton, and found it refreshing for Hollywood. No violence, no profanity, no gratuitous sex, just a cute and mindless story. But I was concerned that one of the actors, Topher Grace, appeared to have been typecast as the bumbling lovestruck male who is unable to express his true feelings and hides them from the obvious object of his affection. A role he has been playing since That’s 70’s Show.  Recently, my wife and my daughter had chickflicked me into watching In Good Company with them, which also starred Topher Grace in this recurrent role. 

     Honestly, I thought both of these films were fairly recent releases. I haven’t been to the “movies” in years. I think the last movie I saw in a theater was the final Austin Powers or maybe one of the Pierce Brosnan Bonds. See I hate Hollywood. For someplace which is suppose to be so creative, I think the majority of what comes out of Hollywood is tripe. This country idolizes actors who are only reciting lines someone else wrote for them; and for this, we are suppose to value their personal opinions? Right! And how about the studios …. another Robin Hood. Errol Flynn is fine with me.

     Now you know why when I stand in line at a supermarket I look so perplexed. I am trying to figure out who these people are on the covers of the tabloids and why I should care. See since I am so hopelessly square, I need my weekly dose of Entourage to feel hip and connected to the Hollywood scene. So please HBO, let’s get Vinnie and the boys back on the air.

I apologize. This is definitely not my best effort this week. 

My Hollywood contest is another gimme. Remember I need the actor’s name, role, and movie for you to win the Starbucks gift card.

 And if you want to see anything now that we can see bare ground again, just call me.

If you’re interested in receiving Bank Owned Weekly, then click on the appropriate link – West End, Glen Allen, or Midlothian. When you sign up for Bank Owned Weekly, you will also receive Foreclosure Friday Flash delivered to your inbox every Friday.

     I have often thought that serving in Congress should be like being called for jury duty. You’d get the notice and say “oh, sh**, I have to go to Washington.”  One of my favorite YouTube videos is from the Guy from Boston, who profanely but accurately describes what’s wrong with too many of our elected representatives.

     This morning while pursuing some of my right wing ideological conservative whacko nut job news sources, I, for some unknown reason, decided to read about Patrick Kennedy’s decision to not stand for re-election in 2010. Here are some facts you might not know. Kennedy was elected in 1994 at the ripe old age of 27 after serving 6 years in Rhode Island House. Excuse me? Fresh from college with all that real world experience you have accumulated, you decide your 1st job should be a state representative; and the populace elects you? 6 years later, steeled by the grueling life experiences of your early 20’s, you decide to take your considerable talents to Washington … and again, you’re elected. BTW, the district Kennedy serves for Rhode Island abuts the Massachusetts’ district that is represented by Barney Franks, and has many of the same demographics.

     I, for one, am glad to know that at the age of 43, Patrick can now ride off into the sunset with his full congressional pension. And Washington is going after the Wall Street boys for their golden parachutes? With pardons to John Stossel, gimme a break.

In honor of the Daytona 500 on Sunday, let’s rev it up this week.  As promised I have two picks from South of the River. 

My Hollywood contest is from one of my favorite movies and I get to deliver my favorite line from it. Remember I need the actor’s name, role, and movie for you to win the Starbucks gift card.

 I also thought I’d give you another Buyer’s Tip for Bank Owned Properties, so here’s a quick primer about B.P.O.’s – Broker Price Opinions.

If you’re interested in receiving Bank Owned Weekly, then click on the appropriate link – West End, Glen Allen, or Midlothian. When you sign up for Bank Owned Weekly, you will also receive Foreclosure Friday Flash delivered to your inbox every Friday.

     It’s time this snow goes away. If it doesn’t, I could well end up being one of those folks who grows so large they have to be removed from the home via a forklift. What is it about snow that causes us to empty the shelves of supermarkets? And then to consume everything we just stocked up on. One of my perennial New Year’s Resolution is always to lose weight. As is my pattern, I was dropping weight fairly consistently in January. I was even paring away that extra added layer of blubber I had added in the December snowfall. Then boom, we get hit with these back to back storms and all the weight I had lost is back on.

     I guess the reason I pack it on in weather like this is the same reason I am compelled to venture out when the weather is at its worst. A man over nature type thing. After all, I wouldn’t want be to stuck a home with an insufficient supply of chocolate chip cookies.

     I am stumped! I don’t know why January ‘10 sales fell short of  the January ‘09 number.  December weather, maybe? Did the snow or maybe just how the holidays fell with Christmas and New Year’s Eve both on Fridays impact sales. We’ll just have to see. Pending sales for January were strong indicating a decent February sales number. And despite the weather, showing activity is robust. Too robust for me considering I have some vacant properties for sale that need to be shoveled in order to show.  Anyway, here’s where the sales fell in January on the price scale. 

     My numbers, like Months of Inventory and List Price/Sales Price Ratio, are a little skewed this month due to fewer sales. January typically is less representative how the year will shape up than later months simply because the statistical sample is smaller.  I’ll have more comments on the market with subsequent posts this week. The good news is we’re still seeing sales and the sales price average is creeping up. I’ll take that as growing consumer confidence in the Richmond area. 

Here’s the snapshot:

For the 3 single family homes sold in
Fan & Museum District of the City of Richmond
(Fox and John B. Cary School Districts)
Average Sales Price in January $ 513,333
Median Sales Price …………..   $ 595,000
Sales Price/List Price Ratio …….. 88 %
Days on Market …………………….. 87
Months of Inventory …………..  34
Average Size 4 bedrooms 2.5 baths of 3,471 sq ft
Average $ per square foot ……….$ 162.49

For the 3 homes sold in West End of the City of Richmond
(Zips 23221, 23226 and 23230)
Average Sales Price in January $ 1,066,333
Median Price ………………………  $ 1,400,000
Sales Price/List Price Ratio ……. 91 %
Days on Market ……………………. 40
Months of Inventory ………….. 22.7
Average Size 4 bedrooms, 4.5 baths of 3,910 sq ft
Average $ per square foot……..   $ 235.21
 
For the 5 homes sold on the Northside of the City of Richmond
(Zip 23227 Holton School District)
Average Sales Price in January $ 226,540
Median Price ………………………  $ 209,000
Sales Price/List Price Ratio ……. 95 %
Days on Market ……………………. 103
Months of Inventory ………….  10
Average Size 3 bedrooms, 2.5 baths of 1,639 sq ft
Average $ per square foot……..   $ 140.99
 
For the 19 homes sold on the Southside of the City of Richmond
(Zip 23225)
Average Sales Price in January $ 208,660
Median Price ………………………  $ 210,000
Sales Price/List Price Ratio ……. 95 %
Days on Market ……………………. 61
Months of Inventory ………….  9.4
Average Size 3 bedrooms, 2.5 baths of 1,653 sq ft
Average $ per square foot……..   $ 127.66
 
For the 18 single family homes sold in West End of Henrico County
(Zips 23226, 23229, 23230, 23233, 23238)
Average Sales Price in January $ 307,122
Median Sales Price ……………    $ 244,250
Sales Price/List Price Ratio ……….  92 %
Days on Market …………………….    64
Months of Inventory ………….     21.5
Average Size 4 bedrooms 2.5 baths of 2,455 sq ft
Average $ per square foot ………. $ 124.29

For the 47 single family homes sold in Chesterfield
(Zips 23831, 23832, 23834, 23836, and 23838)
Average Sales Price for January $ 214,827
Median Sales Price …………… $ 201,000
Sales Price/List Price Ratio ……..  96 %
Average Days on Market……………. 78
Months of Inventory ……………..  21.5
Average Size 4 bedroom, 2.5 baths of 2,288 square ft
Average $ per square foot ………..$ 95.57
 
For the 29 single family homes sold in Glen Allen
(Zips 23059 and 23060)
Average Sales Price for January $ 367,264
Median Sales Price………………   $ 320,000
Sales Price/List Price Ratio ………  96 %
Average Days on Market ………….  79
Months of Inventory ……………   12.9
Average Size 4 bedrooms, 3.5 baths of 2,954 sq ft
Average $ per square foot……… $ 124.31

For the 27 single family homes sold in Mechanicsville
(Zips 23111 and 23116)
Average Sales Price for January $ 273,361
Median Price ……………………     $ 269,000
Sales Price/List Price Ratio ……… 96 %
Average Days on Market ………….. 73
Months of Inventory ……………  15.6
Average Size 4 bedrooms, 2.5 baths 2,257 sq ft
Average $ per square foot ……….. $ 127.75
 
For 49 single family homes sold in Midlothian
(Zips 23112, 23113, and 23114)
Average Sales Price for January $ 298,103
Median Price ……………………..   $ 262,500
Sales Price List Price Ratio …….    97 %
Average Days on Market …………..  103
Months of Inventory …………….  14.6
Average Size 4 bedrooms, 2.5 baths of 2,618 sq ft
Average $ per square foot……….. $ 110.78

      Happy Birthday, Ronald Wilson Reagan. It would be your 99th. We sure could use you now. It would be wonderful to have a President whose every word and action had not been poll tested.

     Here’s a delightful insight into our 40th President. Recently, and I think it was during the State of the Union address, Obama claimed that he reads letters from the American people before retiring for bed. Reagan, too, used to read letters the White House had received from the people. Reagan liked to read these letters when he was at Camp David.  After reading these letters, Reagan would hand sealed handwritten responses to certain letters to his staffers. Drove his staffers nuts, but Reagan always considered his responses to be private and personal communication.

     Happy Birthday, Gipper. It’s your humility, humor and honor that I miss so much.

     I hate Groundhog Day. Can you believe it? 6 more weeks of winter. Sure looks like it today. I am so sick of this snow. I apologize for my delay in getting the Flash out this Friday. Just been that kind of week where everything took more timethan I thought it would.  

    Don’t answer too quickly on this week’s Hollywood Contest. It’s a trick question. Remember I need the actor’s name, role, and movie to win.  And don’t overexert yourself with shoveling snow. It’s wet and extra heavy.

If you’re interested in receiving Bank Owned Weekly, then click on the appropriate link – West End, Glen Allen, or Midlothian.