Brick’s Blog

From the Delta House

Do You Know the Secret Handshake? You know I am just kidding, because you know there is no membership requirement, dues or rules for Foreclosure Friday Flash. The only thing I ask is that when you find something you want to see that you give me a call.

 For you South of the Rivah Fans, I have got a great choice this week for an Owner Occupant. It’s in close in Chesterfield and also within one of the best school district options you can find in Chesterfield.

Don’t forget our Hollywood contest. Just name the actor, the role, and the movie and win a Starbucks card. I’ve already dropped plenty of hints.

 Last week, I was having a HUD home inspected that I had recently sold. While I was there a termite service company for HUD came by. I never miss an opportunity like this to gain some insider info. Anyway, this termite inspector for HUD tells me he’s inspected 48 homes in the Richmond area in the last 3 days. You’ve heard me say it before, but this confirmed it. There’s lots more stuff to come. Hang with me and we’ll find a great one.

 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.

 Have a great weekend! And call me 804.301.7598, if you want to see anything.

I’ve had a busy week. I’ve written several offers. Now let’s get them accepted! With Foreclosure Friday Flash having just 1 property, I have more time to look at and for things for you.

Don’t forget our Hollywood contest. Just name the actor, the role, and the movie and win a Starbucks card. 

And TICK TOCK on the $8,000 and $6,500 Tax Credits. They expire on 4/30, so let’s get cracking.

 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.

     Sorry, I have had this data since last week, but I just hadn’t had a chance to post it yet. Once we get a quarter behind us, I’ll start posting some comparisons for the preceding years of ’09 and ’08. We continue to chug along in the West End.

     If confession is good for the soul; than consider me redeemed. My big announcement this week is Foreclosure Friday Flash from this point forward will have only 1 property each week instead of 2.

     Hey, you want me out there looking at property instead of in an office making a video. And as many of you already know, there are many times I call you with a “specific” great buy that would never be a selection for Foreclosure Friday Flash. The only way I can do this is by constantly previewing property.  

     And don’t forget, I can’t help you if I don’t know you’re out there. Raise your hand and tell me what you want me to find for you.

     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.

     Huh? I must be repressing memories. In February I was as busy as little bee. How come (yeah, I know that should be why) February ’09 sales were so much higher than February ’10?  Have I just accepted the “new reality” of the Richmond real estate market? Is all this activity I see and hear about from other agents actually less than we had a year ago? Am I currently living in Bizarro World? All I know is “I am riding her, ’til she bucks me” and just keeping my nose to the grindstone and pushing on. I am still concerned about what happens after the $8,000 and $6,500 Tax Credits expire in April. Maybe Obama’s push for some short sale regulation will be the new prop for the real estate market?  At this point who knows, but I do know where the sales fell in February and here’s the scoop!

Tomorrow we’ll look at the West End!

     Doing the research for the market snapshot each month is one of my favorite “duties” I perform for my blog. In compiling my numbers and statistics, I get to take a walk down memory lane and see what happened in the various areas. Sometimes I see a sale which I wished I had been aware of when the property came to market, since I know I would have had a buyer for it. Unfortunately, with over 13,000 active listings in our MLS system, I often miss seeing properties because my attention is focused solely on areas where I have current active prospects.  Many times, I’ll spot a sale that I think is data entry error due to the location and the price. Upon investigation, I find that it isn’t an error and want to kick myself for not ferreting out that steal of a deal. See I always want the very best purchase price for my buyers.  Well, enough strolling down memory lane this morning, let’s get to the snapshot:

For the 15 single family homes sold in
Fan & Museum District of the City of Richmond
(Fox and John B. Cary School Districts)
Average Sales Price in February $ 250,800
Median Sales Price …………..   $ 196,500
Sales Price/List Price Ratio …….. 93 %
Days on Market …………………….. 64
Months of Inventory …………..  7.3
Average Size 3 bedrooms 1.5 baths of 1,612 sq ft
Average $ per square foot ……….$ 151.15

For the 12 homes sold in West End of the City of Richmond
(Zips 23221, 23226 and 23230)
Average Sales Price in February $ 710,504
Median Price ………………………  $ 315,000
Sales Price/List Price Ratio ……. 96 %
Days on Market ……………………. 55
Months of Inventory ………….. 9.8
Average Size 4 bedrooms, 3.5 baths of 3,219 sq ft
Average $ per square foot……..   $ 187.75

For the 4 homes sold on the Northside of the City of Richmond
(Zip 23227 Holton School District)
Average Sales Price in February $ 275,850
Median Price ………………………  $ 285,000
Sales Price/List Price Ratio ……. 92 %
Days on Market ……………………. 163
Months of Inventory ………….  16
Average Size 3 bedrooms, 2.5 baths of 1,737 sq ft
Average $ per square foot……..   $ 155.82

For the 16 homes sold on the Southside of the City of Richmond
(Zip 23225)
Average Sales Price in February $ 164,596
Median Price ………………………  $ 171,825
Sales Price/List Price Ratio ……. 95 %
Days on Market ……………………. 82
Months of Inventory ………….  12.5
Average Size 3 bedrooms, 2.5 baths of 1,697 sq ft
Average $ per square foot……..   $ 98.17

For the 39 single family homes sold in West End of Henrico County
(Zips 23226, 23229, 23230, 23233, 23238)
Average Sales Price in February $ 293,592
Median Sales Price ……………    $ 239,500
Sales Price/List Price Ratio ……….  95 %
Days on Market …………………….    72
Months of Inventory ………….     11.1
Average Size 4 bedrooms 2.5 baths of 2,098 sq ft
Average $ per square foot ………. $ 126.38
 
For the 69 single family homes sold in Chesterfield
(Zips 23831, 23832, 23834, 23836, and 23838)
Average Sales Price for February $ 232,390
Median Sales Price …………… $ 194,000
Sales Price/List Price Ratio ……..  97 %
Average Days on Market……………. 85
Months of Inventory ……………..  15.2
Average Size 4 bedroom, 2.5 baths of 2,207 square ft
Average $ per square foot ………..$ 105.84

For the 28 single family homes sold in Glen Allen
(Zips 23059 and 23060)
Average Sales Price for February $ 300,031
Median Sales Price………………   $ 253,500
Sales Price/List Price Ratio ………  95 %
Average Days on Market ………….  71
Months of Inventory ……………   15
Average Size 4 bedrooms, 3.5 baths of 2,503 sq ft
Average $ per square foot……… $ 123.41
 
For the 23 single family homes sold in Mechanicsville
(Zips 23111 and 23116)
Average Sales Price for February $ 268,122
Median Price ……………………     $ 225,000
Sales Price/List Price Ratio ……… 96 %
Average Days on Market ………….. 109
Months of Inventory ……………  19.4
Average Size 4 bedrooms, 2.5 baths 2,234 sq ft
Average $ per square foot ……….. $ 121.45
 
For 49 single family homes sold in Midlothian
(Zips 23112, 23113, and 23114)
Average Sales Price for February $ 302,950
Median Price ……………………..   $ 249,500
Sales Price List Price Ratio …….    96 %
Average Days on Market …………..  107
Months of Inventory …………….  13.4
Average Size 4 bedrooms, 2.5 baths of 2,627 sq ft
Average $ per square foot……….. $ 113.59

Attention Bargain Shoppers!!!!! What a difference a week makes! I really really like my 2 picks this week.

And my Hollywood contest after several weeks of being “gimmies” will take some effort, but as always I’ve given you plenty of clues. Remember I need the actor’s name, role, and movie for you to win the Starbucks gift card.

My schedule is fairly open this weekend, so call me, 804.301.7598, if you want to see anything. Have a great weekend.   

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.