Brick’s Blog

     Many thanks to all for your birthday wishes via Facebook and other means. This is a birthday I would have preferred to skip. Who wants to be 59? It sounds made up. Now if I was 60 than it sounds like I have accomplished something. I am sure with 60 you immediately receive greater deference, since you have walked the planet longer. 59 … yeah, you’re old; but don’t those new agers tell you that 50 is the new 40? Anyway, on to 60 and beyond.  Again, thanks for all your wishes.

I had several correct answers last week. As you should know that was Clark Gable as Rhett Butler in Gone with the Wind. Here’s another classic for this week.

You can’t believe how many price reductions were made this week on existing inventory. It is obvious Asset Managers need to clean up some of this existing inventory before Year’s End. Let’s go find your deal now.

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 am in town this weekend if you want to see anything. 

THIS CLIP IS FAIRLY PROFANE, BUT PERFECTLY EXPLAINS MY FEELINGS ABOUT THE JFK ASSASSINATION.

Unfortunately, JFK’s assasination remains one of my fixations, since I feel I’ll never know the truth about it. When I was in high school I wrote a term paper for my American History class on the Warren Commission. I accepted everything in the Warren Commission as being gospel, since after all it was our government conducting the investigation. About 6 years later, I had one of my friends who was attending law school at the University of Richmond ask me to go to hear a forensics expert speaking on the assassination. This is still a night I vividly remember since it changed so much about how I perceive life and our government. The final sealed documents on the assassination are to be released in 2017. Maybe I’ll finally get my answer.

That is your misfortune! Although I want to encourage all my FLIPPERS to secure their Winter Projects before the end of the year, my pick this week is anything but a flip. It’s another great example of the many opportunities available to Owner Occupants.

I had one correct answer on last week’s contest. It was Nick Nolte as Phil Elliott in North Dallas 40. I have been told by the young woman in my office that I need to use more current films. I’ll see if I can mix it up a bit better from now on, but if you don’t know this week’s answer than you need to learn your CLASSICS!

There are plenty of great buy and hold rentals out there. I have a good list of flips, too. Let’s go write some offers, while these banks aren’t seeing any. Who knows you just might steal something.

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 am in town this weekend if you want to see anything.

New take on an old video!

3 40 3 40 North Hut Hut. I thought we’d take a look of the evolution of a particular product with my pick this week. Ryan Homes has been and will continue to be a major player in the Richmond market for many years. My pick this week is a 1.) perfect downsizing option 2.) in town address for someone with a 2nd home or 3.) a sweet spot for parent that protects their independence but is convenient and close at hand for the caretaker child. And what’s really nice …. this one can be had without breaking the bank.

The correct answer to last week’s contest was Will Smith as Muhammad Ali in Ali. This week’s quiz is more difficult but you should recognize that voice easily. Now all you have to do is figure out the role and movie.

If you know anyone with children at VCU or anyone looking for a great investment property, check out the latest Xtreme Makeover Homes creation in Wallace Manor. I’ll be holding this OPEN on Sunday, 11/14 from 1 – 4 PM. This would be a great time for anyone who might want to pick my brain about the incredible opportunities in Bank Owned Properties. Here’s a link to a Visual Tour, just in case you can’t get by in person.

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.

      October 2010 looks like a repeat of September. October units sold were almost identical to the prior month’s total. I am hoping we really are banging along at the bottom on this market. Last week’s news that CarMax and Cap One were adding jobs was welcome news, since Richmond typically emerges earlier from these downturns than other areas of the country. And as you all know, this downturn has lasted too long.

Here’s the Market Snapshot for October 2010:

For the 6 single family homes sold in
Fan & Museum District of the City of Richmond
(Fox and John B. Cary School Districts)
Average Sales Price in October $ 351,750
Median Sales Price …………..   $ 365,000
Sales Price/List Price Ratio …….. 93 %
Days on Market ………………… 50
Months of Inventory …………..  18.3
Average Size 4 bedrooms 2.5 baths of 2,384 sq ft
Average $ per square foot ……….$ 136.78

For the 13 homes sold in West End of the City of Richmond
(Zips 23221, 23226 and 23230)
Average Sales Price in October $ 366,519
Median Price …………………$ 298,250
Sales Price/List Price Ratio ……. 96 %
Days on Market ………………… 48
Months of Inventory ………….. 8.8
Average Size 3 bedrooms, 2.5 baths of  1,853 sq ft
Average $ per square foot……..   $ 187.96
 
For the 4 homes sold on the Northside of the City of Richmond
(Holton School District)
Average Sales Price in October $ 243,875
Median Price ……………….  $ 239,000
Sales Price/List Price Ratio ……. 97 %
Days on Market ………………… 41
Months of Inventory ………….  13.0
Average Size 3 bedrooms, 2.5 baths of 1,620 sq ft
Average $ per square foot……..   $ 150.75
 
For the 14 homes sold on the Southside of the City of Richmond
(Zip 23225)
Average Sales Price in October r $ 211,761
Median Price ……………….. $ 194,950
Sales Price/List Price Ratio ……. 94 %
Days on Market ………………… 66
Months of Inventory ………….  14.4
Average Size 3 bedrooms, 2.5 baths of 1,817 sq ft
Average $ per square foot……..   $ 120.07

For the 46 single family homes sold in West End of Henrico County
(Zips 23226, 23229, 23230, 23233, 23238)
Average Sales Price in October $ 285,668
Median Sales Price …………  $ 232,650
Sales Price/List Price Ratio ……….  96 %
Days on Market ……………….    64
Months of Inventory ………….     9.3
Average Size 4 bedrooms 2.5 baths of 2,240 sq ft
Average $ per square foot ………. $ 126.59
 
For the 78 single family homes sold in Chesterfield
(Zips 23831, 23832, 23834, 23836, and 23838)
Average Sales Price for October $ 214,961
Median Sales Price ………….. $ 206,450
Sales Price/List Price Ratio ……..  96 %
Average Days on Market………… 81
Months of Inventory ……………..  11.6
Average Size 4 bedroom, 2.5 baths of 2,221 square ft
Average $ per square foot ………..$ 97.37

For the 47 single family homes sold in Glen Allen
(Zips 23059 and 23060)
Average Sales Price for October $ 315,558
Median Sales Price…………… $ 295,000
Sales Price/List Price Ratio ………  95 %
Average Days on Market ………….  60
Months of Inventory ……………   7.0
Average Size 4 bedrooms, 2.5 baths of 2,711 sq ft
Average $ per square foot……… $ 112.75
 
For the 48 single family homes sold in Mechanicsville
(Zips 23111 and 23116)
Average Sales Price for October $ 254,334
Median Price …………………  $ 237,500
Sales Price/List Price Ratio ……… 96 %
Average Days on Market ………….  72
Months of Inventory ……………  10.4
Average Size 4 bedrooms, 2.5 baths 2,240 sq ft
Average $ per square foot ……….. $ 113.65
 
For 68 single family homes sold in Midlothian
(Zips 23112, 23113, and 23114)
Average Sales Price for October $ 289,472
Median Price ………………… $ 240,000
Sales Price List Price Ratio …….    96 %
Average Days on Market ………… 66
Months of Inventory …………….  10.1
Average Size 4 bedrooms, 2.5 baths of 2,535 sq ft
Average $ per square foot……….. $ 111.09 

I am in Balmer for a conference so I will tell you now that the Hollywood Guest Contest has nothing to do with a Barry Levinson film, although Diner is one of my favorites. I’ve got a delightful West End pick this week that should appeal to all sorts of buyers.

I had numerous correct answers on last week’s contest. It was Ed Harris as John Glenn in The Right Stuff. This week’s quiz is pretty easy, too, so let’s see how quickly we can get a correct answer.

If you know anyone with children at VCU or looking for a great investment property, check out the latest Xtreme Makeover Homes creation in Wallace Manor. Wallace Manor is just over the bridge at Harrison Street just blocks from the Monroe Campus at VCU.

Here’s a link to a Visual Tour:

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 am in town this weekend if you want to see anything.

There was a time I loved baseball. Every morning began with the box scores. Strikes, players refusing to autograph items that they were not under contract to, and steriods, just to name a few, has slowly killed my love of the game. Well, Major League Baseball (MLB) has done it again. Last night, George W. Bush threw out the 1st pitch for Game 4 of the World Series. MLB has blocked the video of this as been copyright protected. Bad call, MLB. Bush throwing out the first pitch for 2001 World Series just weeks after 911, did more to reveal the resolve of this country than anything else. W, I didn’t always agree with you, but I do miss you.