Brick’s Blog

     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.

     You know I’ve been stewing on this since yesterday when I heard our newly elected Governor had declared a “state of emergency” for the approaching snow storm. Can’t we have an emergency before we declare an emergency? Are we that hapless, helpless, and hopeless that we must hyperventilate over every event? Maybe if we changed our phasing it would be better. What if McDonnell has declared a “state of preparedness”? Sure, it doesn’t roll off the tongue as easy, but it at least sounds self confident.  And if the Governor has put a plan into effect for the approaching storm than we are “prepared”. After all, we’re dealing with Mother Nature and only man’s arrogance would think we could change her forces. Haiti – now, that was an emergency. How about we all man up for a change. Thanks for letting me vent!

As much as I would like to have something insightful to add to this, I have nothing to say.  Now, there’s a first!

I think sometimes you think I’m just blowing smoke when I tell you that these Bank Owned Properties are just EVERYWHERE. So instead of giving you my normal ho hum 2 Best Buys, I thought I’d show you one to prove my point about no area no price range being immune from having a foreclosure.   

I don’t think for our Hollywood Contest should present much of the problem this week. Remember I need the actor’s name, role, and movie to win.

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

Sit around and wait. Boy, that’s how I feel about my 2 picks this week. Just nothing special and definitely need some ‘seasoning.’ I was talking with one of my REO listing agent contacts today and I was complaining about the INFLATED prices we’re seeing. Well, she just unloaded and said it’s a problem with too many “rookies” doing the BPO’s for the Banks. A BPO is a Broker Price Opinion. Seems these rookies are giving the Banks retail pricing. I knew it just wasn’t me who felt this way.

Well, it’s another gimme for our Hollywood Contest, so I’ll be stopping at Starbucks on the way to the office. Remember I need the actor’s name, role, and movie to win.

And just in case you don’t know Brickese yet here’s an explanation on “seasoning”. Actually, one of the “seasoning” rules for flippers got relaxed to 90 days. So here’s another Brick’s Buyer Tips for Bank Owned Properties.

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

     One of the things I love about being a real estate agent is stumbling upon those ”little” shrines that dot the landscape of Virginia. One of the closing gifts I have given my clients for years is A Guide to Virginia’s Historical Markers. This book is always given with the admonishment to keep it in your car.  Hey, you just never know when happenstance offers you a little history lesson.

     I think I know my way around eastern Hanover County fairly well, so you could imagine my surprise last fall when I saw the outline of what appeared to be a church on Rural Point Road just off Pole Green Road. I have been on Rural Point Road many many times, but I had never noticed this odd structure with its suspended windows before.  All I can say is that I must of had clients in the car on those past occasions, with me just jabbering away; as is my habit when with clients, not to have noticed Pole Green Church. Boy, was that a mistake.

     I don’t want to spoil this for you, but Pole Green Church, like so many little havens in and around Richmond, is one of those idyllic spots for a picnic lunch. I don’t care if you pick up fast food over on Mechanicsville Pike for your picnic fare, just make time to spend a few minutes at Pole Green. Here’s a little teaser of what you’ll find. The minister for the church was Samuel Davies, a subsequent president of Princeton. The Great Awakening in Virginia has its roots here. Patrick Henry worshipped with Davies and acknowledges Davies taught him “what an orator should be.”  And my personal favorite, the Walk of Religious Freedom. You can learn more about Pole Green Church here.

     With Spring still months away, I think I’ll start a new category for Brick’s Blog. I am going to call it “Perfect Picnic Places.” By Spring maybe I’ll have enough locations for a weekly sojourn for the entire summer. Of course, I’d welcome your submissions, too.

     As Democrats point fingers as to who is responsible for the loss of the Massachusetts senate seat to Republicans, my hat tip is to David Gergen. The arrogance and obvious bias in Gergen’s question in the last senatorial debate was the launching point for Brown’s surge down the backstretch and his runaway victory. Thanks, David. Here’s the moment if you’ve forgotten it.

Oh yeah, and it looks like my old pal, Webbie, is looking for some cover. Last night on CNN, Webbie said all healthcare debate/votes should be suspended until Brown is seated.