richmond va: Richmond VA REO/Foreclosure Stats Vol 6
- 04/11/09 10:33 AM
Richmond's News headlines have been encouraging and local agents have been reporting upticks in offers, contracts and buyer traffic. This is all great news. I have heard of bidding wars and one broker I know got a full price offer the first day a property hit the market. Priced right, yes-- but also proof of higher buyer confidence. I got 2 houses under contract this week that had not met seller reserve at auctions last month. So, April's volume is off to a good start of over $1.1 mil already with 3 more auctions on the schedule over the next 10 … (0 comments)
richmond va: Richmond VA REO/Foreclosure Stats Vol 4
- 03/15/09 07:27 AM
This week's property transfer records show another decline (2nd week in a row) of about 2%. Transactions involving a bank as buyer or seller are 81 out of 392 total reported transactions for 20.66%, about 3.5% better than the high of 24% on Feb. 28th. This is good news for John and Jane Q. Public private sellers; as the discounted inventory clears out, their house has a better chance of getting an offer. This offer will still be less than they are hoping for, but when the market speaks, they must listen if they really, truly need to sell. Period to date … (0 comments)
richmond va: Brutal Buyers !
- 03/13/09 10:29 AM
Richmond area- example of how rough thing are and how gutsy buyers have gotten: tax assessment of a house is $837,600. Last list price $725,000. Current list price $675,000. Two offerors just engaged in a "competition"... $450,000 went to $510,000 $515,000 went to $535,000 went to $550,000 Sellers countered at $635,000. No deal. The buyers will just keep looking for another property. … (3 comments)
richmond va: Richmond VA REO/Foreclosure Stats 2009 Vol 3
- 03/07/09 07:50 AM
this week's talley of property transfers involving a bank as either buyer OR seller (foreclosure or REO sale) comes to 22.4% of the total, (52 out of 232)-- a slight decline over last week's high of 24%. So, for the 5 weeks that I have been tabulating this, the Richmond area, (including surrounding counties of Henrico, Chesterfield, Hanover, Petersbur. Powhatan, Goochland, Dinwiddie, Colonial Heights, Hopewell, New Kent, Prince George, Charles City, Amelia, Chester, Caroline, Cumberland, King & Queen, King William, Louisa and Sussex) is at 1849 property transfers 2/7-3/7 2009 349 transactions involved a bank on one side 19% If anyone … (0 comments)
richmond va: Richmond VA REO/Foreclosure Stats volume 2 2009
- 02/28/09 12:20 PM
A very interesting trend! The property transfers this week in the Richmond VA metro area/surrounding counties reflects that 24% of all transactions involve a financial institution as either buyer or seller, indicating either a foreclosure sale or REO sale. This is a SIGNIFICANT increase over the past 3 weeks' closings which averaged 15.5%. (see my blog 2/15/09) Out of 400 transactions closed, 96 involved a bank on one side or the other. One quarter of all sales activity! That is HUGE. My feeling is, the more the better because it's clearing out the backlogged discounted inventory and the sooner they are gone … (0 comments)
richmond va: BUYERS showed up to BID despite the ice & snow !!
- 01/28/09 07:41 AM
Well.... I was up at 4:30 a.m. to watch the weather forecast... winter storm warning... sleet/snowy mix forecast beginning at 8 a.m. and my first auction of the day due to start out in the country at 10 a.m. ! Fortunately it wasn't enough to scare off the serious bidders and we had 8 show up to compete for the right to own a 3 bedroom ranch on an acre with detached 2 car garage and swimming pool. There were at least 3 end users in the group but an investor who came over to watch the auction and talk with me … (0 comments)
richmond va: YooHooooo BUYERS ! Come out, come out, wherever you are ! Olly Olly Oxen Free!
- 01/24/09 12:03 AM
Interest has been good so far for Tuesday's auctions around Richmond VA -- first real estate auctions of the year around here and I am full of HOPE! Interest is good and we have a family moving here from Maine who plan to bid on one house... an agent has pre-registered a buyer for another property... all good early indications. Over the years I have always wanted to see at least 10 people download the Property Information Package but these days, with buyers hiding under rocks... I am satisfied with 6 or 8. Anyhow, Tuesday's properties have had up to 30 inquirers … (1 comments)
Richmond's News headlines have been encouraging and local agents have been reporting upticks in offers, contracts and buyer traffic. This is all great news. I have heard of bidding wars and one broker I know got a full price offer the first day a property hit the market. Priced right, yes-- but also proof of higher buyer confidence.
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