Brick’s Blog

Hope you like this week’s pick.  

Our Real Estate Investment Seminar has been revamped to focus on using self directed IRAs to fund these transactions. Our first was a huge success and we are quickly filling up for our October 18^th date.  You can register for this seminar here.

 And the next night on Wednesday, October 19^th, we will have our Renovation Finance Workshop. You can sign up here.

Then the next night, Thursday, October 20^th, we will do our Home Buyer Seminar, so register here.

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.

Of course, you can call Brick, 804.301.7598 or Laura, 804.399.6607, to register for these events, too. And if you want to see anything, call!

Lots of changes in September. Units sold dropped 12 % from their August level with September having the lowest units sold since April of this year. Active inventory sank below the 11,000 mark to its lowest point in years. Could this been the sign we have been waiting for that the market has bottomed? Now for the bad news. There is every indication that the infamous “shadow” inventory will begin coming to the market. Bank of America made that announcement several weeks ago and you can be sure the other major players will follow suit. And like last month, 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 September 2011:

For the 12 single family homes sold Fan &

Museum District of the City of Richmond

(Fox and John B. Cary School Districts)

Average Sales Price in September $ 240,750

Median Sales Price …………..   $ 224,500

Sales Price/List Price Ratio …….. 94 %

Days on Market ………………… 73

Months of Inventory …………..  6.1

Average Size 3 bedrooms 2.5 baths of 1,862 sq ft

Average $ per square foot ……….$ 130.47

 

For the 17 homes sold in West End of the City of Richmond

(Zips 23221, 23226 and 23230)

Average Sales Price in September $ 504,305

Median Price …………………..$ 450,000

Sales Price/List Price Ratio ……. 96 %

Days on Market ………………… 58

Months of Inventory ………….. 6.9

Average Size 4 bedrooms, 3.5 baths of  2,688 sq ft

Average $ per square foot……..   $ 179.19

 
For the 9 homes sold on the Northside of the City of Richmond

(Holton School District)

Average Sales Price in September $ 195,261

Median Price ……………….  $ 212,500

Sales Price/List Price Ratio ……. 93 %

Days on Market ………………… 103

Months of Inventory ………….  7.6

Average Size 3 bedrooms, 1.5 baths of 1,608 sq ft

Average $ per square foot……..   $ 121.67 

For the 22 homes sold on the Southside of the City of Richmond

(Zip 23225)

Average Sales Price in September $ 172,555

Median Price …………………. $ 137,450

Sales Price/List Price Ratio ……. 96 %

Days on Market ………………… 42

Months of Inventory ………….  7.8

Average Size 3 bedrooms, 2.5 baths of 1,739 sq ft

Average $ per square foot……..   $ 94.19

 

For the 71 single family homes sold in West End of Henrico County

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

Average Sales Price in September $ 313,944

Median Sales Price ………….  $ 231,000

Sales Price/List Price Ratio ……….  95 %

Days on Market …………………..   83

Months of Inventory ………….     5.5

Average Size 4 bedrooms 2.5 baths of 2,550 sq ft

Average $ per square foot ………. $ 118.14

 
For the 86 single family homes sold in Chesterfield

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

Average Sales Price for September $ 212,627

Median Sales Price ………….. $ 189,000

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

Average Days on Market………… 83

Months of Inventory ……………..  7.8

Average Size 4 bedroom, 2.5 baths of 2,251 square ft

Average $ per square foot ………..$ 93.61

 

For the 62 single family homes sold in Glen Allen

(Zips 23059 and 23060)

Average Sales Price for September $ 316,983

Median Sales Price…………… $ 292,000

Sales Price/List Price Ratio ………  98 %

Average Days on Market …………. 56

Months of Inventory ……………   4.8

Average Size 4 bedrooms, 2.5 baths of 2,660 sq ft

Average $ per square foot……… $ 116.35

 

For the 61 single family homes sold in Mechanicsville

(Zips 23111 and 23116)

Average Sales Price for September $ 242,309

Median Price ………………….  $ 220,000

Sales Price/List Price Ratio ……… 96 %

Average Days on Market …………. 83

Months of Inventory …………… 6.3

Average Size 4 bedrooms, 2.5 baths 2,199 sq ft

Average $ per square foot ……….. $ 111.06
For 87 single family homes sold in Midlothian

(Zips 23112, 23113, 23114, 23120)

Average Sales Price for September $ 283,724

Median Price ………………… $ 247,000

Sales Price List Price Ratio …….    97 %

Average Days on Market ………… 76

Months of Inventory …………….  6.5

Average Size 4 bedrooms, 2.5 baths of 2,703 sq ft

Average $ per square foot……….. $ 103.32

      Just in time for Christmas, we have the answer to the oh so so passé Snuggly. It is the Forever Lazy. If you actually have no ambition, care to spend your life in front of the tube noshing, and don’t want to be worried about any sense of fashion, than the Forever Lazy is for you. The Snuggly was bad enough, but with ever increasing energy cost, it might have some redemptive value. The Forever Lazy, well, this is a different story. This is something they encourage you to leave your home in; but before you rush out to buy one, let’s think this thing through.

     First, it’s the name. Do you really want to be caught in public in your Forever Lazy? And if you were in public, probably at the Food Court at your local mall or wandering the aisles at Costco/BJ’s sampling the freebies, what would you say if you meet an acquaintance? Would you claim you had just run out to do some errands? If so, than that means you were lounging around home in this thing, since the alternate means you selected the Forever Lazy to wear out.

     Probably my favorite feature promoted in their ad is the handy evacuation system. The front zipper is a two way starting at the crotch. And while around back, you find the ample drop seat hatch. This thing comes with a built-in hood and you can also order the “booties”. And if I were to get one of these, I have to have the “booties”. See you could sew floppy ears on the hood, slip on the “booties”, and with its ample shape, especially in the gray color, you could wear this thing as bunny rabbit outfit. The pink one would work as well, too. Good anytime in public around Easter and Halloween; and other times, you could just claim you’re on your way to a costume party. Supplies are limited. So don’t delay!

You know it was downright cold when I went for my walk this a.m. This year sure has been one of weather extremes, but one thing you know isn’t extreme is Bank Owned Weekly. Just week after week after week, you get the latest and most accurate lists for REOs! So if any of your friends want to receive this valuable information, encourage them to sign up at the appropriate link below.

 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 October 2nd: 

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. 

 Our revamped Real Estate Investment Seminar is simply fantastic. We have built this this seminar around using self-directed IRA money to fund your transactions. All you had to do was to experience the  turbulence of the Dow Jones over the last few weeks with its several hundred point drops to understand how timely this seminar is. So don’t miss our next one, which will be Tuesday, October 18^th.  You can register for it at link above. 

Laura and I believe the current market offers incredible opportunities for a home buyer to earn significant equity using Renovation Financing, we highly encourage you to sign up for our next Renovation Finance Workshop on October 19^th. You can register 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 the link above.

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

 

Here’s A Winner! Laura and I really like this one up on the Hill. Great for an owner occupant or an investor.  

 Our Real Estate Investment Seminar has been revamped to focus on using self directed IRAs to fund these transactions. Our first one last week was a huge success and we are quickly filling up for our October 18^th date.  You can register for this seminar 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.

 Of course, you can call Brick, 804.301.7598 or Laura, 804.399.6607, to register for this event or any of our other seminars. And if you want to see anything, call!

 

Oops, this didn’t get posted on Thursday so I know it must have been Laura’s fault. Our pick this week is in Bretton Woods, which was one of the earliest “new” subdivisions off Staples Mill Road just inside the I-295 loop. It is serviced by the great schools of Glen Allen Elementary, Hungary Creek Middle, and the new Glen Allen High School. Laura and I think this one has excellent upside.

Our purpose each week is to show you a property which we feel offers instant and substantial equity using Renovation Financing. And the best part for you? When it’s all said and done, you have a home done to your taste and with your specifications that has just 1 mortgage payment. Why not reward yourself with a big profit and not the investor or the flipper? It is so attainable when
you use Renovation Financing.

Our next monthly Renovation Finance Workshop will be Wednesday, October 19, 2011. You can sign up for our Workshop at the link above.

And why not start watching for your DREAM HOUSE by registering for Bank Owned Weekly at one of the following links:

For the West End, click here.   

For Glen Allen, click here.  

For western Chesterfield, click here.  

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

 

No ticket no Laundry, but my pick this week is “the ticket”.

Our Real Estate Investment Seminar was a huge success on last Tuesday; and when you have 300 point swings in the Dow Jones
like Thursday, it should make you rethink your investment goals. We have revamped this seminar to focus on using self directed IRAs to fund these transactions. You can register for this seminar 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.

Of course, you can call Brick, 804.301.7598 or Laura, 804.339.6607, to register for this event or any of our other seminars. And if you want
to see anything, call!

Cha’ching cha’ching. You know it’s about time we mentioned historic tax credits when talking about Renovation Finance, so let this week’s pick be our introduction to the subject. And the nice thing about Richmond – there are historic districts every way you turn.

 Our purpose each week is to show you a property which we feel offers instant and substantial equity using Renovation Financing. And the best part for you? When it’s all said and done, you have a home done to your taste and with your specifications that has just 1 mortgage payment. Why not reward yourself with a big profit and not the investor or the flipper? It is so attainable when you use Renovation Financing.  Our next monthly Renovation Finance Workshop will be Wednesday, October 19, 2011.  You can sign up for our Workshop at the link above.

 And why not start watching for your DREAM HOUSE by registering for Bank Owned Weekly at one of the following links:  

For the West End, for Glen Allen, and for western Chesterfield.  

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

Not sure I am ready for this dose of cooler weather. This year sure has been one of weather extremes, but one thing you know isn’t extreme is Bank Owned Weekly. Just week after week after week, you get the latest and most accurate lists for area reos! So if any of your friends want to receive this valuable information, encourage them to sign up at the appropriate link below.

 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 September 18^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 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.

This week is our Seminar/Workshop Week. On Tuesday, September 20, it’s our Real Estate Investing Seminar. We have revamped this Seminar to focus on using self-directed IRAs to fund these transactions. You can register at the link above.

Since we believe the current market offers incredible opportunities for a home buyer to earn significant equity in a property using Renovation Financing, we highly encourage you to sign up for our next Renovation Finance Workshop on September 21^st at 7 p.m. You can register at the link above.

And capping off the week, on Thursday, September 22^nd we will have our Home Buyer Seminar. This seminar is ideal for the 1^st  Time Home Buyer as well as the seasoned veteran, particularly with the changes in this new Real Estate market. You can register for this seminar 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’d be a Sooner on this one!  

Got a busy week coming up. A slew of workshops and seminars for you to attend and learn ways to overcome the challenges of this NEW real estate market.

 First, on Tuesday, September 20^th, we’ll have our Investment Seminar. We have revamped this seminar to focus on using self directed IRAs to fund these transactions. You can register for this seminar at the link above.

Next, on Wednesday, September 21^st, we’ll have our Renovation Finance Workshop. One reason Laura and I have started to do Turnaround Thursday is to promote this seminar and to remind you of all the money making opportunities out there using renovation financing. You can sign up for this Workshop at the link above.

And last but certainly not least is our Home Buyer Seminar on Thursday, September 22^nd. If you’re a first time buyer and just Beginning to explore home ownership, this is the seminar for you. You can register at the link above.  

Of course you can call Brick, 804.301.7598 or Laura, 804.399.6607, to register for these events. And if you want to see anything, call!