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 knows who NVR Inc or Hewitt Assoc -- they have been very busy, buying and selling!
Interesting note: Weichert Relocation Resources took a 20% hit on a property they bought back in. Paid their relocated seller $482,500 and sold it for $400,000.
Stands on a par with my evaluation that Richmond area properties have sustained an 18-20% hit, regardless of what anyone may say to the contrary.
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