I guess I’ll have to wait until summer to evaluate the effect of the $8,000 1st Time Home Buyer Tax Credit; since it’s been extended and also enhanced to include “move up” buyers with a $6,500 tax credit incentive, but November sales showed an uncharacteristic [...]
Well, I think I can finally come down from the high ground. Yeah, I am tired of all this rain. Kinda of a disappointing week for the Flash. I looked at over 30 “new” bank owned listings this week and guess what? Not a decent [...]
Sunday, I was in the best mood all day; and it all started at church. No, it wasn’t from some inspirational words imparted in the sermon, although the sermon was good. And it wasn’t some particular hymn that leaves you humming it all week until it is [...]
I am gearing up to stuff myself at Thanksgiving. How about you? My picks this week aren’t STEALS, but they’re good solid buys, which I think can be picked off at a good price. We are entering that historical time (Thanksgiving to the New Year) [...]
My old buddy, Webbie, sure is getting the hang of being a senator who is responsive to his constituents. Whenever I contact our senators, I send them identical e-mails. Ah, the efficiency of cut and paste. Once again Webb’s response was received before any from Warner, [...]
Started that ark yet? As always, I’ve got 2 fabulous picks this week. One is condo out by Innsbrook and the other is an equestrian paradise – that is if you ride Western.
Can you believe it? No one correctly identified last week’s “Hollywood” guest. [...]
Yesterday, I commented on the encouraging news that October marked the first month to month comparison in 2 years where the current October sales exceeded the previous 2 years. In looking at the submarket of the West End, there are also some insights to be [...]
OMG, is there a pattern emerging? While we certainly aren’t doing the dollar volume of past years, October ‘09 marked the first time in 2 years that the month to month comparisons show ‘09 unit sales exceeding both ‘08 and ‘07. October ‘09 clipped [...]
Well, I guess I won’t have to wonder how much sales will fall off once the $8,000 Tax Credit for “First Time” Homebuyers expires until next Spring. In case you haven’t heard, the credit was extended through April 30, 2010. Congress in their typical [...]
I’ve got 2 great picks this week. One is a townhouse on Jahnke Road just down the street from CJW Hospital. The 2nd is a West End property that is getting in the “kill” zone. What I mean by the “kill” zone is a property [...]
Zowser, zowser, zowser …. here’s another epsiode of Foreclosure Friday Flash. These 2 “radar” properties are in good locations and with a little bit of discounting could be great buys. Don’t forget my Hollywood contest – name the actor, role, and movie – and win a Starbucks [...]
One of my favorite movie quotes of all times is from Diner, when Boogie tells Carol. “It was Ripley’s.” Of course, this occurs after the infamous popcorn scene in the movie, when Boog offers the most implausible tale ever that only affirms Modell’s earlier comment [...]
Well, I am back this week with an actual episode of Foreclosure Friday Flash. Two great north of the “rivah” picks. Don’t forget my Hollywood contest – name the actor, role, and movie – and win a Starbucks gift card. Congrats to last week’s winner, [...]
No video this week other than my video apology, but you can still play our name the actor Starbucks contest. The reason for no video this week was the lack of anything exciting that I felt I needed to share with you.
If I see [...]
While the West End market remains bottom driven with over 70 % of the market activity occurring below $400,000, the desirability of the West End remains unchallenged since over 85 % of Richmond’s market activity occurs under the $400,000 barrier. Believe it or not – there [...]
What a difference a year makes! Last year, September marked the onslaught of the financial market meltdown. It sure looks like we bumping along the bottom. Month to month comparisons between September ‘09 and September ‘08 shows ‘09 with an increase in sales over ‘08. [...]
I’ve got just one word …. “consistent” …. that’s the best description of Richmond’s market at present. September marked a few less sales than August. And August marked a few less sales than July, but I’m not yet running around like Chicken Little claiming the [...]
Well, I’ve got 2 great family style homes this week. Click here for Foreclosure Friday Flash.
For you first time buyers I will be having a Home Buyers’ Seminar on Wednesday, October 28. 2009 at 7 p.m. The seminar is being given in conjunction with [...]
Late last week, I ran into one of the local real estate consulting gurus while getting my morning coffee at Ukrop’s. Having known this individual for years, our conversation naturally turned to real estate. I was struck by some of his comments when I asked [...]
Ho hum. Just another episode of Foreclosure Friday Flash. Click here for this week’s video.
Don’t forget our weekly contest. Be the first one to identify our mystery “Hollywood” guest - actor, role, and movie - and win a gift card to Starbucks.
This morning I was writing our senators about a defeated amendment proposed in Senate Finance Committee. This particular amendment proposed that the revised Health Reform bill be posted on the internet for 72 hours prior to it being voted on by the Finance Committee. The Finance Committee is chaired by [...]
T.G.I.F. and that’s mean it’s time for another episode of Foreclosure Friday Flash.
Lots of interesting new things to the market this week and some price reductions on outstanding inventory that now means these properties are on “my radar.”
If you’re interested in signing up for Bank [...]
As one of those domestic racist gun totin’ astroturfed Nazi terrorists who was in DC on September 12th, I find the grandeur of our Capitol complex spine tingling. Every American should experience it very few years. The last time I had visited the Capitol prior to [...]
Well, it’s Friday, so that must mean there is another episode of Foreclosure Friday Flash.
Not a particularly exciting week for the Bank Owned Inventory, since I only saw one new property that I could get vaguely excited over. And I didn’t see any price [...]
Here’s where the sales fell in August for the West End. Once again, we are seeing an increasing number of sales above the $ 500,000 plateau, but these numbers pale in comparison to past years. I’ll try to get the 3 year comparison posted in next [...]
Sorry about the delay in getting this information out this month. I’ve been trying to catch up on some projects I’ve got going so I’ve been distracted. August to August comparisons for ‘09 versus ‘08 show the current year lagging last year by only 5 [...]
Yesterday, I attended the 912 Project’s March on Washington. Although I had attended the Richmond Tea Party on April 15th downtown, I went unaffiliated. Obviously, a whole lot of other folks went unaffiliated, too; because the U.S. Capital police, by their own admission, were caught [...]
I’ve got to admit that I find a Chick-fil-a sandwich one tasty item. Chick-fil-a is definitely in my pantheon of fast food suppliers, but not solely because of the food. It’s their business practices that I admire as much as anything. Having their service folk tell [...]
Here’s the latest episode of Foreclosure Friday Flash.
My picks this week are just good solid buys, so if you’re an owner occupant than pay special attention.
And don’t forget to enter our contest. Identify the mystery “Hollywood” guest - actor, role and movie and win [...]
Since getting the sad news of Marshall Coggin’s death on Sunday, my mind has been awhirl in memories of a man who in many ways was my father. You see Marshall Coggin was my godfather; and in all duties Marshall undertook or assumed, there was [...]
Chugging along like the Little Engine Who Could might be the best way to describe the greater Richmond Real Estate market. If all it takes is a positive mental attitude than we might be okay. My real concern is what happens when the $8,000 Tax [...]
Just emailed our 2 Senators about my concerns with all the Czars we have in the O administration. Just seemed like the thing to do on a Labor Day weekend. Gosh, I feel horrible now, because I got an immediate response back from Webbie. Can [...]
Welcome to Episode 4 of Foreclosure Friday Flash. Both of my Best Buys this week are North of the Rivah. One in Twin Hickory and the other in Bellview Gardens. If you’re not familiar with Bellview Gardens, it is located north of Broad Street just passed [...]
I was delighted to see this morning that Old Glory had been returned to her lofty heights at Parham & Broad. It turns out that President O had issued a proclamation that Old Glory was to fly at half mast until August 30th, 2009 at 6 p.m. in honor [...]
One of my favorite sights around town has always been the huge America flag that flew over Capital Lincoln Mercury at Parham and Broad. On breezy days with clear blue skies, Old Glory unfurled in all her majesty warmed my heart. Yesterday, while on my [...]
Here’s Episode 3. And don’t forget to be the first to identify our “Hollywood” guest - actor, role, and movie - and win a Starbucks gift card. Congrats to last week’s winner, Rob Pearsall.
Would you like to receive weekly updates on Bank Owned Properties? If, yes, [...]
It has been a slow week for new Bank Owned Properties, but I am going to attribute that to vacation time in August. I certainly don’t think the number of foreclosures is abating, especially with rising unemployment. I am not all “doom and gloom” either. Anyway, [...]
Here’s a new feature. Every Friday, I’ll give you my Best Buys in the Bank Owned Properties. Check out the video.
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If one was to judge the Richmond marketplace based on July sales numbers for the West End, the picture would be pretty bleak. Whereas the overall Richmond market saw a 12 % decline in unit sales from June, only the Glen Allen sector of the West [...]
Well, Richmond just keeps plowing ahead. Yeah, July sales didn’t exceed the heady number we saw in June, but all in all July was very respectable contributing to a continuing assault against the now astronomical numbers achieved in ‘07. And let’s not even think about drawing comparisons [...]
I’ll have more to say over the next few days as I digest the July sales numbers more, but July unit sales dipped about 12 % from June’s number. I am not so sure how much significance I would place on this dip, since June’s improvement over May’s already [...]
Well, it’s official. Mary Stuart and I have affiliated with Joyner Fine Properties as of today. We’re very excited about the move, since Joyner offers us not only a solid West End brand name, but commercial and property management divisions, too. We’ll be working from the [...]
As I mentioned earlier this week, my main objective for this week is to get back up to speed on the bank owned inventory. After meeting a client at 9 a.m. yesterday to look at a couple of Midlothian bank owned properties, I spent the remainder of the day [...]
I have a confession; and yes, confession is good for the soul. For the last two weeks, I have been a little slack in looking at new Bank Owned Properties that have come on the market. So today and for the rest of the week, I [...]
My wife, Mary Stuart, has a new listing in Dorset Woods South. Dorset Woods South is off River Road west of Mooreland and east of Gaskins. 404 Walsing Drive is a Colonial over 3 levels with 5,300 + square feet. The home has 5 bedrooms, 4 [...]
Well, I have to admit that our senior senator is starting to catch on to this e-mail stuff. I got another correspondence_reply from Jim yesterday. It was in response to my recent complaint against “cap and trade.” It appears Webbie will be bucking his party, if [...]
You know I have an infinity to e-mail our Senators with my thoughts. Recently, I have corresponded twice about “cap and trade”. Here’s what I THINK is going on. I have gotten no response from Senator Warner. This is unusual. From Day 1, his office has [...]
Sales skyrocketed in June from the improved May numbers. June sales for Zones 20, 22, and 34 showed an aggregate 37 % increase over May levels with Zone 22 being up 44 %. While the number of sales monthly continues to rise, the market remains very [...]
No, you’re not seeing things. June ‘09 sales DID exceed June ‘08 sales. Since monthly unit sales have been dropping versus the prior year’s month since 2006, this is a welcome change. Are we out of the woods? No, but just maybe we can tread water versus the [...]
Last month, I wondered if the Richmond Real Estate Market had turned the corner. Looking at June’s numbers, I am certainly more encouraged. While 2 months are not sufficient to start crooning “Happy Days are Here Again”, it only confirms my everlasting respect for how resilient [...]
I’ve been thinking lately about what NASCAR will be like now that the government owns GM. Since they are racing at Daytona tonight, I was wondering what next year’s 500 might be like. Maybe we’ll have a new “3″ car, even though to any self respectin’ good old boy that [...]
Why is it that every buyer I currently have is only interested in a “short” sale? Has there ever been a bigger real estate misnomer than a “short” sale? Shouldn’t these sales be called “longest sale in history provided I can even get a response to my [...]
I’ve got this great little booklet, which completely explains the $8,000 Tax Credit for Home Buyers. If you’d like a copy, please click on this link and I’ll send you a copy.
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Boy, I’ve been slow to post this final installment. My apologies but I have been under the weather for a few days and just getting back on stride. Here’s the last part of the 3 year history and this applies to Zone 34 or what I [...]
Today we’re going to look at homes sales year to date through May over the last 3 years in the West End of Henrico. This is for Zone 22 which I refer to as “West End of the County”. Zone 22 begins on the east at [...]
What I thought was would be a single post has morphed into an 3 part installment. Earlier this week, I mentioned I would post a 3 year camparison of home sales for the West End. Since “my West End” is composed of three different zones (i.e., [...]
May saw a BIG jump in the number of sales in the West End from their April counterpart. We also started to see some activity at above the $400,000 price point which is encouraging. With the next few days, I should be posting a comparison on [...]
Hooray!!!! Guess what? Well, now 2009 year to date unit sales only trail 2007 sales by 49.6 %. Nice to be under to 50 % bracket. ‘09 year to date unit sales are now lagging ‘08 sales by 23 %. Are you doing a jig yet? May also marked [...]
I have just completed round 1 of my monthly analysis. I’ll pontificate later this week on some of the promising aspects of May sales. Maybe we truly have turned a corner. The rapidly rising mortgage rates might be an indication of that, but I am not convinced yet. I think [...]
I thought there might be some interest in West End Home Sales for the month of April along with year to date numbers. Since I am already compiling these numbers as part of my other posts, I thought I’d start breaking them out for publication. These figures apply to [...]
Yesterday, I attended the auction of bank owned foreclosures, which was held at the Richmond Convention Center. Approximately, 100 properties were auctioned covering an area from the Peninsula (Norfolk/Virginia Beach/Hampton Roads/Chesapeake) up to Charlottesville. On Saturday, about 250 properties located in Northern Virginia were auctioned at a [...]
As promised, here are the 2009 Year to Date statistics for single family home sales in the greater Richmond area with comparisons for the two preceding years. Not a pretty picture, but we’re certainly not Las Vegas or southern Florida with their doomsday markets. These statistics [...]
After posting the 1st Quarter results for ‘09, ‘08, and ‘07, I thought I’d make the three year comparison a regular post for both month to month and also year to date. After all, I have the data despite the fact it can be depressing. So here [...]
I am just beginning my analysis for April’s results. While the unit sales didn’t pick up much, the pending sales for April were healthy. Look for a substantial jump in unit sales in the months to come. I’ll add further comments later this week.
Here’s the snapshot:
For [...]
My son, Stuart, supposedly has one duty. It’s his daily mission during the school year to deliver his sister to her school, Collegiate. As his sister, Lucy Gordon, has advanced through school, her school commitments have evolved; and with such, her need to be at school [...]
Once again, my apologies. I have had this information compiled since earlier this month. I just haven’t found the time to post. Am I busy? Yes. Am I as productive as I would like? No. Do I need to get busier and more productive? You betcha and the numbers [...]
I have had the snapshot done for a few days; I just haven’t found the time to write my market comments. I have the same predicament this a.m., so I’ll post the results and hopefully I can follow up with some comments later this week.
Here’s the [...]
Bad hair day. How about a bad hair month? Last week, I had a late afternoon appointment in The Fan; and since my barber is located there, I decided that I’d kill 2 birds with one stone on this trip. After all, I am “green” kinda guy; [...]
I will admit one thing. At least our junior senator, Mark Warner, changes his message when a response is sent to a constituent. I got an e-mail this a.m. from this office in response to my recent complaint about the Omnibus Bill. The bad news is [...]
Men who look upon themselves born to reign, and others to obey, soon grow insolent; selected from the rest of mankind their minds are early poisoned by importance; and the world they act in differs so materially from the world at large, that they have but [...]
I e-mailed both of Virginia’s Senators twice with my opposition to the Omnibus package with all its earmarks. I encouraged both to vote with Bayh and Feingold against the package. I reminded them all Americans are attempting to live within their means, so why shouldn’t the government. Of course, both of our [...]
Yeah, so we’re trailing ‘08 by approximately 22 % in units sold. So what! Richmond has lost a couple of big players in its Fortune 500 base, so all things considered we’re doing okay. Now, all we need to do is to convince those dolts in DC [...]
While the shortest month of the year brought us a pretty “short” number of units sold, the big news in February was the “pending” sales, which posted a number that rivaled last September and October pending sales. Dare I think we might actually have a “Spring” [...]
Nothing like reading your own press clippings. I have been telling you about my Saturday Morning Tour of Bank Owned Properties. Why don’t you sign up for our next available slot. Just call 1.877.879.8118 ext 15.
Here’s a link to the article in RichmondBizSense.
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I got 4, yes 4, emails from my pal, Jim Webb, yesterday. All 4 of the emails were sent at the same time and all had different numeric jibberish (Senator Jim Webb’s response to your message.|GUID#IA093a5bc1-4fd1-474c-b8fc-380f457ecd2e) in the subject line. Just for fun, I clicked on the [...]
Let’s see, we already have an Ocrisis in this country; and particularly where housing is concerned. So what do these geniuses in DC propose? Eliminating the mortgage interest deduction for incomes above $250,000. Wow, what a great way to further erode home prices and home values. [...]
In my inbox this morning was an email with the following subject line: Senator Jim Webb’s response to your message.|GUID#IAb54d33f1-59a8-4fd3-b219-4b17a4c58a42. Boy, all that gibberish numbering in the subject line somewhat diminished that “oh, I am so special feeling” one might get when receiving a personal response [...]
Whether you’re an owner occupant seeking a new home, a real estate investor looking to add to your investment portfolio, or a contractor looking for flips and rehabs, my Saturday Morning Tour of Bank Owned Properties is for you. Watch the video above [...]
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 [...]
Sorry I am a little slow in updating some of my statisical information this month, but I have been quite busy although not extremely productive. Hopefully, some of the many folks I have in the pipeline will purchase in the coming months. So how does January [...]
Never have I felt more that our “elected” leaders are not listening to us. First, we had the TARP bailout. Next, we had the stimulus package. With regard to the stimulus package, I wrote (emailed actually) both of Virginia’s senators 4 separate times. Our junior senator, [...]
I just finished doing the January sales figures. Want to guess my mood? No, Brick, we don’t. I am sure it would be too depressing. Who wants to start their day with some TennesseeWilliamsean melodrama? I listened to Obama Babble last night and that was depressing enough. [...]
What is the old saying attributed to P.T. Barnum ….. “There’s a sucker born every minute”? If you listen to WRVA 1140, then you have probably heard the Consumer Resource Network’s come-on talking about $10,000 new home foreclosures, which when purchased would only have a monthly payment [...]
Someone asked me yesterday, if I was ready for the Super Bowl. Frankly, no. Since I have been around for the 42 other Super Bowls, this one, like most Super Bowls, won’t matter much to me. I am not sure who is even playing. Maybe I’ll watch [...]
Earlier this week, based on a tip from my Real Estate Guru, Joe Stumpf, I purchased a Flip video camera. I bought it at Wal-Mart. Considering how much I hate shopping at Wal-Mart, no, I don’t think Wal-Mart is evil; I find the stores just too [...]
I need to take a lesson from whoever negotiates on behalf of insurance companies. I bet it’s William Shatner, but whoever it is they delivered a “Crane Kick” to Bon Secours Hospital that would make Ralph Macchio envious. Earlier this week, I got an explanation of [...]
Well, 2008 is over. I’ll let the numbers speak for themselves, but we ended the year with a 29 % decline in units sold. Considering the economic uncertainty across the globe and the bombardment of negative news we received all year, you have to admire the resiliency [...]
So what do December sales figures show? Many things; and I can only hope it’s the start of some positive trends. Inventory levels for November to December are down 10 %. Inventory levels are presently at their lowest level since June ’07. There was a big jump [...]
Since my undergraduate days, I have known about the curriculm of St. John’s College in Annapolis. Their curriculm is based upon the 100 greatest books of Western Civilization, as seen by St. John’s. Over the years, I have promised myself many times that I would attempt [...]
Several weeks before Christmas, I found that Imus in the Morning was being carried locally by WLEE 990. Unfortunately, about the time I rediscovered the I-Man, he became sick with pneumonia was out through the New Year. I like Bernard McGuirk, but he is NO Imus.
I [...]
I am getting ready to cook my Christmas turkey. On Christmas Eve, I had cooked a beef tenderloin and was left with several pounds as leftovers. Since yesterday was spent mooching off others, I still have the tenderloin, but I thought it would be best to [...]
Over the last few days, I have spoken to some of my financial services buddies. Stock jockeys is what I call them. To a man, (sorry, I don’t know any woman stock brokers), they all complained about how beat up they feel - what a rough 2 months it has been [...]
By request, I have added two new areas to the monthly coverage. South of the Rivah in the City (i.e., Zip Code 23225) is now covered; as is the Bellevue area in the Northside of the City (i.e., Zip Code 23227 in Holton School district.) I [...]
Saturday I spent the day in a DIC (i.e., Driver Improvement Clinic) created for the DMV by the DDI (Defensive Driving Institute) not because of a DUI or DWI or even a DWD (i.e, Driving While Drowsy – thought you might need a little help on [...]
I was in the first class at The University (i.e., UVA) that admitted undergraduate women. This was 1970. There were 200 women in that first class. By 1975, half of the admitted class each year were women.
In what had been an all male bastion, you [...]
Tuesday, I received the Thanksgiving edition of the Brooks Brothers catalogue in the mail. I can’t remember when I transitioned from wearing a Gant button down to a Brooks one, but it must have been in the early 70’s when I worked for a brokerage firm [...]
Last Thursday, I probably made my last purchase at Circuit City. I would have made this purchase on Wednesday, but the selection I had chosen under their ready in 24 minutes program wasn’t in the store I had chosen, even though I chose a store outside [...]
Let’s see. About mid September, Treasury Secretary Paulson announces the financial markets need 750 billion for a bailout. It takes until October 3rd to enact a pork laden bill for this rescue. The following week the Dow Jones loses 22 % of its value. Boy, the Richmond real estate [...]
When I started to compile this information for October, I initially had a horrific sinking feeling as each market segment of this report had a significant drop in the number of sales. Now that I begin to compose my thoughts and can reflect back on October, I can only [...]
Tuesday, my son, Stuart, voted in his first presidential election. Since he’s nineteen, I am sure most of you would think that we cancelled each other out at the poll. Not so, his politics are just to the right of Genghis Khan, so much so that his “vanity” license [...]
