Yeah, yeah, yeah…I know I am slow this month in supplying you with Brick’s Stats, but I have been busy with lots of projects like my Saturday Morning Tour of Bank Owned Homes. Want the skinny on that, then call 1.877.879.8118 Ext 15. Working on a couple of other seminar like events, too, so stay tuned.

     Now let me give you a couple of quick takes on the table below. Richmond continues to have homes sales. Yes, we’re in a more bottom driven market, but what a great time to move up if you have job security and equity in your existing home. Mortgage rates are incredible, selection is great, and sellers are hungry. You would not believe some of the financing packages some of my recent buyers have gotten. If you don’t believe the market is bottom driven look at the percentage jump in home sales under $100,000 below. The top end of the market (above 400K) saw a 75 % decrease in units sold for January ’09 vs. ‘08.  One month does not a year make, but my initial indication on February activity has been good. Hopefully, now that mobland native, Obama, has listened to his consigliere, Bill Clinton, his negative comments on the economy will wane – that should be good for country, the financial markets, and ultimately, the housing market.  

January  2009 2008
Price Range  # of Sales % of Ttl Sales # of Sales % of Ttl Sales % Chg in Units
0 – 99,999 59 14.32% 28 5.61% 110.71%
100,000 – 199,999 138 33.49% 150 30.06% -8.00%
200,000 – 299,999 130 31.55% 171 34.27% -23.98%
300,000 – 399,999 49 11.89% 65 13.03% -24.62%
400,000 – 499,999 13 3.15% 36 7.21% -63.89%
500,000 – 599,999 5 1.21% 23 4.61% -78.26%
600,000 – 699,999 9 2.18% 12 2.40% -25.00%
700,000 – 799,999 3 0.72% 5 1.00% -40.00%
800,000 – 899,999 3 0.72% 3 60.00% 0.00%
900,000 – 999,999 2 0.48% 0 0.00% 200.00%
1 Million plus 1 0.24% 6 1.20% -83.33%
Total Sales/Pct. 412 100.00% 499 100.00% -17.43%