Brick’s Blog

Always Remember This Day!

 I haven’t watched any of the commemorative coverage surrounding 9-11, simply because it still affects me so profoundly. This morning I am headed to church to remember that 1^st Sunday after 9-11 ten years ago. On that date, my church was simply overflowing with people and with a unity of community and country that I wish we could capture again.

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. So 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 September 11^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.

Due to my stupidity, I accidentally deleted Friday’s episode of Foreclosure Friday Flash before publishing it. You don’t know how frustrating this is when you have spent many hours producing it. But you can’t cry over spilled milk, so I’ll try to make up for it with this Friday’s episode. Laura and I did get out an episode of Turnaround Thursday, which if you missed it you can see at the link above.

Our sole purpose for Turnaround Thursday is to increase our attendance at our monthly Renovation Finance Workshop. We  believe the current market offers incredible opportunities for a home buyer to earn significant equity in a property using Renovation Financing, so make sure you sign up for our next Workshop on September 21^st at 7 p.m. You can register at the link above.

 The clock is also ticking for our Real Estate Investing Seminar for Tuesday, September 20^th. We have revamped this Seminar to focus on using self-directed IRAs to fund these transactions. You can register for at the link above.

And later that week on Thursday, September 22^nd we have a Home Buyer Seminar. This is 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.

      August saw a nice pick up in units sold over July, but still not reaching the levels seen in May and June. Units sold in the suburban areas of Henrico and Chesterfield saw nice increases over their July counterparts indicating that the suburban schools are a major moving influence with parents desiring to be settled before the start of the school year. Inventory levels continue to inch downward improving the months of inventory numbers. Foreclosure shadow inventory and past robo-signing problems are beginning to be resolved and more r.e.o.s are coming to the market. 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 August  2011:

For the 15 single family homes sold Fan &

Museum District of the City of Richmond

(Fox and John B. Cary School Districts)

Average Sales Price in August $ 352,506

Median Sales Price ………….. $ 271,000

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

Days on Market ………………… 42

Months of Inventory ………….. 4.6

Average Size 3 bedrooms 2.5 baths of 2,258 sq ft

Average $ per square foot ……….$ 153.90

 

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

(Zips 23221, 23226 and 23230)

Average Sales Price in August $ 409,750

Median Price …………………..$ 315,000

Sales Price/List Price Ratio ……. 95 %

Days on Market ………………… 58

Months of Inventory ………….. 6.3

Average Size 4 bedrooms, 2.5 baths of 2,279 sq ft

Average $ per square foot…….. $ 171.47

 

For the 8 homes sold on the Northside of the City of Richmond

(Holton School District)

Average Sales Price in August $ 185,000

Median Price ………………. $ 181,000

Sales Price/List Price Ratio ……. 99 %

Days on Market ………………… 85

Months of Inventory …………. 7.0

Average Size 3 bedrooms, 2.5 baths of 1,373 sq ft

Average $ per square foot…….. $ 136.86

 

For the 18 homes sold on the Southside of the City of Richmond

(Zip 23225)

Average Sales Price in August $ 138,474

Median Price …………………. $ 103,925

Sales Price/List Price Ratio ……. 92 %

Days on Market ………………… 77

Months of Inventory …………. 10.5

Average Size 3 bedrooms, 2.5 baths of 1,400 sq ft

Average $ per square foot…….. $ 98.36

 

For the 98 single family homes sold in West End of Henrico County

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

Average Sales Price in August $ 328,816

Median Sales Price …………. $ 272,500

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

Days on Market ………………….. 68

Months of Inventory …………. 3.8

Average Size 4 bedrooms 2.5 baths of 2,597 sq ft

Average $ per square foot ………. $ 124.36

 

For the 106 single family homes sold in Chesterfield

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

Average Sales Price for August $ 231,507

Median Sales Price ………….. $ 209,500

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

Average Days on Market………… 76

Months of Inventory …………….. 6.8

Average Size 4 bedroom, 2.5 baths of 2,361 square ft

Average $ per square foot ………..$ 96.71

 

For the 57 single family homes sold in Glen Allen

(Zips 23059 and 23060)

Average Sales Price for August $ 336,698

Median Sales Price…………… $ 321,000

Sales Price/List Price Ratio ……… 96 %

Average Days on Market …………. 61

Months of Inventory …………… 5.0

Average Size 4 bedrooms, 2.5 baths of 2,751 sq ft

Average $ per square foot……… $ 118.87

 

For the 50 single family homes sold in Mechanicsville

(Zips 23111 and 23116)

Average Sales Price for August $ 240,271

Median Price …………………. $ 224,000

Sales Price/List Price Ratio ……… 95 %

Average Days on Market ………… 84

Months of Inventory …………… 8.5

Average Size 4 bedrooms, 2.5 baths 2,317 sq ft

Average $ per square foot ……….. $ 105.25

 

For 122 single family homes sold in Midlothian

(Zips 23112, 23113, 23114, 23120)

Average Sales Price for August $ 318,828

Median Price ………………… $ 266,500

Sales Price List Price Ratio ……. 97 %

Average Days on Market ………… 64

Months of Inventory ……………. 4.9

Average Size 4 bedrooms, 2.5 baths of 2,823 sq ft

Average $ per square foot……….. $ 110.21

 

Sorry, we’re a little late this morning with our pick. You know when we’re late it’s always going to be Laura’s fault.  That’s just how it is around here!

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? 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, September 21, 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.

      That’s Jerry Butler, the Iceman. If you went to a Southern prep school in the 60′s or early 70′s, you knew every song ever crooned by the Iceman. Now that I am on a fitness kick and walk every morning for an hour; I have been loading my iPod up with music from my past along with a few present favorites.  I’ve got a pretty good collection of country from Hank Williams (that’s Sr. although Jr. has a couple I like) to Miranda Lambert.  But I digress ….

     When I was at Woodberry I was tagged by one of the seniors my new boy year as being “the Groover.”  Being that naive, over confident kid from backwater Warsaw, I took this as a compliment and was soon believing my own press clippings, so much so that by my senior year I was head of the Hop Committee. Now being head of the Hop Committee was almost like being blessed by the Pope as the coolest guy on campus. The Hop Head obviously knew more about music and chicks than anybody else; or why would you put him in charge of arranging the 3 big dance weekends for the year when the all male population at Woodberry got to invite “their best girls” to the Forest for a weekend.  Yeah, you had to be one hip cat to pull this off, especially when Woodberry was about 50% Carolina happy boys who even then were young shag daddies in the making. 

Anyway, I thought it would be fun to load the old iPod up with some of the music that was so much of my life at Woodberry. So off I go to YouTube where I grab a video and convert it to mp3 format for the iPod. (Yeah, I am still cheap). And while these songs were downloading, I found myself remembering the words to these songs from 40 years ago. But it wasn’t until the next morning when I ventured out for my walk that the full impact of these songs hit me. All of them were about unrequited love or heartbreak. Did I really sit around for most of my teen years mooning over some little hottie  from Chatty Cathy or Saint Margaret’s singing the words to Jerry Butler? I must have because I can still sing along. Sure proves that youth is wasted on the young.

     Just before my son, Stuart, returned to UMW for his 3rd year, he broke up with a girl he had been seeing for about 8 months. I think this was his first serious girlfriend. We had lunch a couple of days after the break up and he was still mooning over her. So what advice did the Groover have for his son? Maybe a c.d. with a few select songs from the Iceman to ease the pain?  On no, the Groover told him to buck up. Get over it. That he was an upperclassman, living a 1/2 block off campus in a great house, was 22 years old and can buy liquor/beer legally, and goes to a school where women make up 60% of the student body. There will be another one.

     One of the things I like most about Virginia Capital Realty is our support staff is loaded with cute 20 somethings. Every Friday around 4:45 p.m., if I am in the office, I circulate through and remind the girls that at 5 p.m. I’d be glad to hold a quick seminar about men before they head out for the weekend. So far, I’ve had no takers, but sooner or later they’ll find out what a valuable resource the Groover is now that he knows the Iceman was all hooey!

     Every week we put out Turnaround Thursday, Foreclosure Friday Flash, do the Saturday Morning Tour of Bank Owned Properties and then start the week all over again with Bank Owned Weekly. Whew … it takes dedication to do this week after week, but it only shows you the commitment you will get when you work with Laura and me. If you want the most current and accurate  updates available for REOs, all you need to be is click on 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 September 4^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.

And speaking about Turnaround Thursdays, did you catch last week’s episode? If no, then here’s the link.

Our sole purpose for Turnaround Thursday is to increase our attendance at our monthly Renovation Finance Workshop. We believe the current market offers incredible opportunities for a home buyer to earn significant equity in a property using Renovation Financing, so make sure you sign up for our next Workshop on September 21^st at 7 p.m. You can register at this link.

In September, we will also reconvene our Real Estate Investing Seminar on Tuesday, September 20^th. We have revamped this Seminar to focus on using self-directed IRAs to fund these transactions. You can register for at the link above.

 Then on Thursday, September 22^nd we have a Home Buyer Seminar. This is 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 Brick, 804.301.7598 or Laura, 804.339.6607, if you want to see anything.

I haven’t done a high end pick in some time, so I hope you enjoy this pick. This is one that I feel has a ton of equity in it, if you’re in this price range.

 If  you missed Turnaround Thursday yesterday, here’s a link to it. This is a modest home with really great upside.

 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.  

Lots of workshops coming up, so stay tuned for details. Call Brick, 804.301.7598 or Laura, 804.339.6607, to see anything.

 

We Really Like This One! Are we getting better? We think we are. We’ll have a revamped look next week, so stay tuned.

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? When it’s all said and done, you have a home done in your taste and to your specifications with 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, September 21, 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.

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.