Brick’s Blog

Due to the weather I am going to post this a day early. I have already lost power at home and am working from the office at present. Now you have to admit I am dedicated, if a hurricane can stop the publication of Bank Owned Weekly!  Week after week after week, you can receive the most current and accurate  updates available for REOs by simply clicking on and registering at the appropriate link below. And don’t forget to tell your friends about Bank Owned Weekly. 

To receive Bank Owned Weekly for the West End of Richmond, click here.

To receive Bank Owned Weekly for Glen Allen, click here.

To receive Bank Owned Weekly for Western Chesterfield, click here.

Here are the links for Bank Owned Weekly for August 28th:

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 2 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.

Laura and I had our 2nd episode of Turnaround Thursday and have already had some interest in the home. I think we’ll have it under contract by the end of the week. Each week, we’ll feature a property that we believe has super upside potential using Renovation Finance. If you missed Thursday’s episode chick the link to you right to watch.  

One of our many reasons for doing Turnaround Thursdays is to increase our attendance at our monthly Renovation Finance Workshop. We believe if we consistently show you properties that are prime our renovation and have a big reward than you’re sure to sign up for our next workshop, which is on September 21st at 7 p.m. You can register at the link above.

 And also starting in September, we will  reconvene our Real Estate Investing Seminar on Tuesday, September 20th. We have revamped this seminar to emphasis using self-directed IRA money to fund these transactions. If you’d like to attend, please visit the link above. 

And then on Thursday, September 22nd we will have our Home Buyer Seminar. These seminar is geared for the 1st Time Buyer but seasoned Buyers will learn a few things, too. To register, please visit the link above. 

And don’t forget our ever popular, Saturday Morning Tour of Bank Owned Properties. We are in our 3rd Year of doing this event. You can register for the Tour at the link above.  

Call me, 804.301.7598 or Laura, 804.339.6607, if you want to see anything.

 

My pick this week is a move in ready townhome in the West End. This community has a great location off John Rolfe Parkway between Gayton Road and Ridgefield Parkway.  And did I mention it’s an End Unit!

 Yesterday, Laura and I had our 2^nd episode of what we are calling Turnaround Thursdays. Each week we’ll spotlight a property we think has significant upside using renovation finance. We hope this will increase our attendance to our monthly Renovation Finance Workshop. We’d love to get to a point where we’re doing the workshop several times a month.

 Our next monthly Renovation Finance Workshop will be Wednesday, September 21, 2011. We cannot stress enough how ideal this market is for an owner occupant using Renovation Finance and that is why we’ll be doing Turnaround Thursdays each week. You can sign up for this Workshop at the link above and if you like to see our pick for this week click on Turnaround Thursdays above.  

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 Brick, 804.301.7598 or Laura, 804.399.6607, if you want to see anything.

 

Here’s Another Winner. Less technical problems this week; and we PROMISE we’ll get better with this production. Do you remember how bad Foreclosure Friday Flash was some 2 years ago when we first started that?

Each week, we will bring you a property that we feel is a prime candidate for substantial equity using Renovation Financing. Imagine moving into your new home and it’s done exactly to your taste and wishes; and rewards you with big paper profit not the investor or the flipper. It is so attainable when you use Renovation Financing.    

 Our next monthly Renovation Finance Workshop will be Wednesday, September 21, 2011.  The sole purpose of Turnaround Thursdays is to show you weekly the serious money making opportunities that we find on a daily basis. You can sign up for our Workshop at the link above. 

Call Laura, 804.339.6607 or Brick, 804.301.7598, if we can show you any of the turnarounds we are following.

 

Got a great pick this week for someone wanting to have a cash cow investment in the VCU area. When all is said and done, I think you’d have about $160,000 in it with a possible $2,000 @ month rental income. You do the math!

Yesterday, Laura and I debuted what we are calling Turnaround Thursdays. Each week we’ll spotlight a property we think has significant upside using renovation finance. We hope this will increase our attendance to our monthly Renovation Finance Workshop, which by the way had a full house on Wednesday. We’d love to get to a point where we’re doing the workshop several times a
month.

Our next monthly Renovation Finance Workshop will be Wednesday, September 21, 2011. We cannot stress enough how ideal this market is for an owner occupant using Renovation Finance and that is why we’ll be doing Turnaround Thursdays each week. You can sign up for this Workshop at the link above.

Call Brick, 804.301.7598 or Laura, 804.399.6607, if you want to see anything.

 

Have We Got a Deal for You! We had hoped to get this out sooner today, but due to technical difficulties (read Laura there) we’re running late. Here’s the debut of Turnaround Thursdays.

Each week, we will bring you a property that we feel is a prime candidate for substantial equity using Renovation Financing. Imagine moving into your new home and it’s done exactly to your taste and wishes; and rewards you with big paper profit not the investor or the flipper. It is so attainable when you use Renovation Financing.    

 Our next monthly Renovation Finance Workshop will be Wednesday, September 21, 2011.  The sole purpose of Turnaround Thursdays is to show you weekly the serious money making opportunities that we find on a daily basis. You can sign up for our Workshop at the link above.

 Call Laura, 804.339.6607 or Brick, 804.301.7598, if we can show you any of the turnarounds we are following.

Hard to believe we’re at the midpoint of August. School starts in just a few weeks. Frankly, I am ready for the structure that Falls brings. And Bank Owned Weekly has structure, too. Week after week after week, you can receive the most current and accurate  updates available for REOs by simply clicking on and registering at the appropriate link below. And don’t forget to tell your friends about Bank Owned Weekly. 

To receive Bank Owned Weekly for the West End of Richmond, click here.

To receive Bank Owned Weekly for Glen Allen, click here.

To receive Bank Owned Weekly for Western Chesterfield, click here.

Here are the links for Bank Owned Weekly for August 14^th: 

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.

Beginning in the 3^rd Week of September we will begin a monthly program of 3 consecutive nights of seminars. This will continue monthly for the remainder of 2011. Depending on our interest we may expand this program to include the 1^st week of the month, too. The schedule for September will be as follows:

 Tuesday, September 20 – Real Estate Investing Seminar.

Wednesday, September 21 – Renovation Finance Workshop

Thursday, September 22 – Home Buyer Seminar

I hope to start a special feature this week which Laura will host that highlights a property we feel is an excellent candidate for renovation finance. We are convinced some of the greatest opportunity for young first time home buyers exist utilizing renovation finance. 

 Don’t forget my monthly Renovation Finance Workshop is this Wednesday, August 17, 2011. We start promptly at 7 p.m. so don’t be late. You can still register for this workshop at the link above.

And don’t forget our ever popular, Saturday Morning Tour of Bank Owned Properties. We are in our 3^rd Year of doing this event. You can register for the Tour at the link above.

Call me, 804.301.7598 or Laura, 804.339.6607, if you want to see anything.

 

I couldn’t resist my pick this week, since they’re playing the PGA Championship in Hotlanta. 

Our website has just been revamped. We will soon have a section dedicated to our on-going seminars and workshops. Visit our site and find out what’s coming soon.     

My monthly Renovation Finance Workshop will be this Wednesday, August 17, 2011.  I cannot stress enough how ideal this market is for an owner occupant using Renovation Finance.  You can still register by visiting the link above.  

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.

      July saw a drop in total units sold from both May and June numbers. Inventory levels continue to inch downward improving the months of inventory numbers. Pending sales for July were also down, so my hoped for Spring market has been disappointed by unimpressive July numbers and lower than anticipated August numbers. Foreclosure shadow inventory and robo-signing problems could well be attributing to the lower inventory numbers. Dollar per square foot cost and relatively short days on market are positive indications that we’re in a stable yet unimpressive market.

Here’s the Market Snapshot for July 2011:

For the 19 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 $ 356,736

Median Sales Price …………..   $ 335,000

Sales Price/List Price Ratio …….. 96 %

Days on Market ………………… 46

Months of Inventory …………..  3.9

Average Size 3 bedrooms 2.5 baths of 2,075 sq ft

Average $ per square foot ……….$ 168.85

 

 For the 43 homes sold in West End of the City of Richmond

(Zips 23221, 23226 and 23230)

Average Sales Price in July $ 486,193

Median Price …………………..$ 377,725

Sales Price/List Price Ratio ……. 96 %

Days on Market ………………… 84

Months of Inventory ………….. 3.6

Average Size 4 bedrooms, 2.5 baths of  2,739 sq ft

Average $ per square foot……..   $ 176.57

 

 For the 14 homes sold on the Northside of the City of Richmond

(Holton School District)

Average Sales Price in July $ 216,618

Median Price ……………….  $ 208,950

Sales Price/List Price Ratio ……. 97 %

Days on Market ………………… 68

Months of Inventory ………….  5.3

Average Size 3 bedrooms, 1.5 baths of 1,530 sq ft

Average $ per square foot……..   $ 141.23 

 

For the 26 homes sold on the Southside of the City of Richmond

(Zip 23225)

Average Sales Price in July $ 217,553

Median Price …………………. $ 186,750

Sales Price/List Price Ratio ……. 95 %

Days on Market ………………… 66

Months of Inventory ………….  7.8

Average Size 3 bedrooms, 2.5 baths of 1,931 sq ft

Average $ per square foot……..   $ 102.76

 

For the 64 single family homes sold in West End of Henrico County

(Zips 23226, 23229, 23230, 23233, 23238, 23294)

Average Sales Price in July $ 346,015

Median Sales Price ………….  $ 280,475

Sales Price/List Price Ratio ……….  97 %

Days on Market …………………..   57

Months of Inventory ………….     6.4

Average Size 4 bedrooms 2.5 baths of 2,623 sq ft

Average $ per square foot ………. $ 124.87

 

For the 83 single family homes sold in Chesterfield

(Zips 23831, 23832, 23834, 23836, and 23838)

Average Sales Price for July $ 225,419

Median Sales Price ………….. $ 205,500

Sales Price/List Price Ratio ……..  97 %

Average Days on Market………… 62

Months of Inventory ……………..  8.9

Average Size 4 bedroom, 2.5 baths of 2,354 square ft

Average $ per square foot ………..$ 93.41

 

 For the 62 single family homes sold in Glen Allen

(Zips 23059 and 23060)

Average Sales Price for July $ 314,186

Median Sales Price…………… $ 305,000

Sales Price/List Price Ratio ………  97 %

Average Days on Market ………….  48

Months of Inventory ……………   4.8

Average Size 4 bedrooms, 2.5 baths of 2,658 sq ft

Average $ per square foot……… $ 117.09

 

 For the 53 single family homes sold in Mechanicsville

(Zips 23111 and 23116)

Average Sales Price for July $ 239,550

Median Price ………………….  $ 230,000

Sales Price/List Price Ratio ……… 94 %

Average Days on Market ………….  87

Months of Inventory ……………  8.2

Average Size 4 bedrooms, 2.5 baths 2,274 sq ft

Average $ per square foot ……….. $ 107.65

 

For 125 single family homes sold in Midlothian

(Zips 23112, 23113, 23114, 23120)

Average Sales Price for July $ 314,572

Median Price ………………… $ 300,000

Sales Price List Price Ratio …….    97 %

Average Days on Market ………… 68

Months of Inventory …………….  4.8

Average Size 4 bedrooms, 2.5 baths of 2,809 sq ft

Average $ per square foot……….. $ 109.20

I went on a quick 2 day road trip with my daughter this week to look at 2 colleges. We were in Raleigh and then my favorite place in the South, Charleston. I forget how hot it can get there. It was 85 when I went for my 5 a.m. walk.

Before I left on Wednesday, I found my pick for this week and I hope you agree it’s a great one. 

We’re back to our Weekly Contest and I made it so easy.  Remember I need the actor, the roles, and the movie to win the Starbucks gift certificate.

Check out our website, which has been revamped. We will soon have a section dedicated solely to Workshops and Seminars.    

 My next monthly Renovation Finance Workshop will be Wednesday, August 17, 2011.  I cannot stress enough how ideal this market is for an owner occupant using Renovation Finance.  You can sign up for this Workshop at the link above.

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.