Brick’s Blog

     Happy New Year! Here’s the Final Foreclosure Friday Flash for 2010.

     I had multiple correct answers on last week’s Hollywood Guest Contest. Our winner was a Facebook friend in State College, PA who knew it was John Huston as the narrator (also Moses) in The Bible – In The Beginning. Our contest this week is much more secular, but I know I can count on multiple correct answers again.

     Don’t forget I have my inaugural RENOVATION FINANCE WORKSHOP coming up on January 12, 2011. What a great way to learn how to use Renovation Finance to your advantage! You can register at this link below or by calling 1.877.879.8118 extension 8. Can’t make it on 1/12/11? No worry. My lender partner and I will be doing this every month; and if demand is great enough, even more frequently.

    Call me, 804.301.7598, if you want to see anything.

     One of my long time participants in the Hollywood Guest Contest was our winner last week by knowing our guest was Reginald Owen as Ebenezer Scrooge in the 1938 version of the Christmas Carol. Of all the Christmas Carol adaptations, this is my favorite one.

    There have been SO MANY major price reductions on aged inventory, even old Brick is having trouble keeping up with all the BARGAINS out there. Call me with what you’re seeking and I’ll see what works for you.

    Don’t forget I have my RENOVATION FINANCE WORKSHOP coming up on January 12, 2011. What a great way to learn how to use Renovation Finance to your advantage. You can register here.  Can’t make it on 1/12/11? No worry. My lender partner and I will be doing this every month; and if demand is great enough, even more frequently.

    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. 

    Call me, 804.301.7598, if you want to see anything. 

No winner last week on the Hollywood Guest Contest. It was Daniel Stern as Laurence “Shrevie” Schreiber in Diner. If you’ve never seen this classic, it is well worth the rental and has an All Star cast in their breakout roles – Mickey Rourke, Kevin Bacon, Ellen Barkin, Tim Daly, Steve Guttenberg, and Paul Reiser. 

 There is so much good stuff for sale out there; and everyday I find another bargain like the one I emailed to many of my clients yesterday. 2820 Overton Road in Lakeside is an absolute steal. Here’s the Visual Tour for it again.

 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.

And call me, 804.301.7598, if you want to see anything.  

It Was Ripley’s! Got some quick correct answers from my younger subscribers who knew last week’s guest was Mike Myers as Wayne Campbell in Wayne’s World. Let’s see how they do this week. And if they don’t know the answer, they should be required to rent this classic film.

Prices continue to get slashed. Why my FFF from last Friday (1701 Winder) got slashed $25,000 on its $99,900 price in 2 cuts this week. It’s time to make your offers.

I’ll be holding my pick open for inspection on Sunday the 12th from 1- 4 p.m. So come on by!!! Here’s a Visual Tour of 12201 Collinstone Place in case you want more info and directions to the property. Directions are found at Menu>Map>Location.

Hope to see you Sunday.

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.

     November marked a drop in unit sales of about 8 % from October’s number which is historically what we see this time of year as we move into the Holidays. Overall inventory also fell with levels now 10 % below where they stood in August. Again, this is more of an indication of the season than the sales activity. The listing price/sales price ratio was lower this month signaling that buyers got slightly better discounts than in previous months. This is another seasonal indication, since there are fewer buyers in the market this time of year. Hopefully, November’s election will restore some consumer confidence which is what the market needs more than anything.

Here’s the Market Snapshot for November 2010:

For the 10 single family homes sold in
Fan & Museum District of the City of Richmond
(Fox and John B. Cary School Districts)
Average Sales Price in November $ 377,886
Median Sales Price …………..   $ 343,900
Sales Price/List Price Ratio …….. 94 %
Days on Market ………………… 85
Months of Inventory …………..  9.6
Average Size 3 bedrooms 2.5 baths of 2,239 sq ft
Average $ per square foot ……….$ 165.91

For the 19 homes sold in West End of the City of Richmond
(Zips 23221, 23226 and 23230)
Average Sales Price in November $ 447,521
Median Price …………………… $ 399,000
Sales Price/List Price Ratio ……. 95 %
Days on Market ………………… 58
Months of Inventory ………….. 6.1
Average Size 4 bedrooms, 2.5 baths of  2,399 sq ft
Average $ per square foot……..   $ 182.85
 
For the 7 homes sold on the Northside of the City of Richmond
(Holton School District)
Average Sales Price in November $ 210,092
Median Price ……………….  $ 226,500
Sales Price/List Price Ratio ……. 91 %
Days on Market ………………… 57
Months of Inventory ………….  7.1
Average Size 3 bedrooms, 1.5 baths of 1,540 sq ft
Average $ per square foot……..   $ 142.31
 
For the 25 homes sold on the Southside of the City of Richmond
(Zip 23225)
Average Sales Price in November $ 135,664
Median Price ……………….. $ 103,000
Sales Price/List Price Ratio ……. 91 %
Days on Market ………………… 76
Months of Inventory ………….  8.2
Average Size 3 bedrooms, 1.5 baths of 1,562 sq ft
Average $ per square foot……..   $ 86.15

For the 49 single family homes sold in West End of Henrico County
(Zips 23226, 23229, 23230, 23233, 23238)
Average Sales Price in November $ 292,331
Median Sales Price …………….  $ 244,500
Sales Price/List Price Ratio ……….  95 %
Days on Market ……………….    76
Months of Inventory ………….     7
Average Size 4 bedrooms 2.5 baths of 2,283 sq ft
Average $ per square foot ………. $ 124.25
 
For the 74 single family homes sold in Chesterfield
(Zips 23831, 23832, 23834, 23836, and 23838)
Average Sales Price for November $ 247,648
Median Sales Price ………….. $ 210,000
Sales Price/List Price Ratio ……..  96 %
Average Days on Market………… 94
Months of Inventory ……………..  11.8
Average Size 4 bedroom, 2.5 baths of 2,363 square ft
Average $ per square foot ………..$ 103.08

For the 53 single family homes sold in Glen Allen
(Zips 23059 and 23060)
Average Sales Price for November $ 297,707
Median Sales Price…………… $ 285,000
Sales Price/List Price Ratio ………  96 %
Average Days on Market ………….  66
Months of Inventory ……………   6.5
Average Size 4 bedrooms, 2.5 baths of 2,488 sq ft
Average $ per square foot……… $ 119.05
 
For the 33 single family homes sold in Mechanicsville
(Zips 23111 and 23116)
Average Sales Price for November $ 284,626
Median Price …………………  $ 263,000
Sales Price/List Price Ratio ……… 97 %
Average Days on Market ………….  77
Months of Inventory ……………  13.3
Average Size 4 bedrooms, 2.5 baths 2,440 sq ft
Average $ per square foot ……….. $ 116.88
 
For 61 single family homes sold in Midlothian
(Zips 23112, 23113, and 23114)
Average Sales Price for November $ 292,760
Median Price ………………… $ 254,700
Sales Price List Price Ratio …….    97 %
Average Days on Market ………… 62
Months of Inventory …………….  10
Average Size 4 bedrooms, 2.5 baths of 2,577 sq ft
Average $ per square foot……….. $ 111.54

     Took awhile, but I finally got a correct and complete answer on last week’s contest. That was Humphrey Bogart as Rick Blaine in Casablanca. Remember I need the character’s complete name. Here’s something a little more current for this week.

     Prices continue to get slashed. What do I need to do? Come to your office and jump up and down on your desk to get your attention. The deals are out there to be had. Let’s go snap one up 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. Saturday is already booked, but I have some slots on Sunday. Call me, 804.301.7598.

     I have known it for several years, but it really struck me over the Thanksgiving break. My children aren’t children anymore; and if there is one particular attribute they both have that makes my chest swell with pride, it would be their ability and comfort when conversing with adults. Lucy Gordon, fast approaching 18, has always had impeccable manners and the poise that gave her the natural ability to ingratiate herself with adults. To that formidable combination, she has now added a broad range of topics, opinions, worldviews, and mindless minutia to carry a conversation. Stuart, having reached his majority last August, has always had a deep love for trivia and inane facts. He now effortlessly blends his prior passion with classical and historical references that illustrate his mastery of a subject. Who would have “thunk” that someone who glided through high school would now have such a quest for knowledge. And before I claim all the credit for these 2 delightful individuals, I would be amiss if I didn’t mention Mary Stuart’s influence in their development and deportment. Sure looks like all those years of actually conversing with the children has reaped wonderful rewards.