Drick's Real Estate Blog

For the second week in a row, foreclosures represent a slightly smaller percentage of overall available inventory in Southside Hampton Roads.  Hovering just below 14% of available inventory, the change was driven by a slight increase in NON REO properties combined with a slight decrease in REO co...

Houseflies come from maggots which mature in rotting flesh.  If you see an unexplained incidence of flies in the house, there is a good chance you've got a rotting carcass in the chimney flue.  Birds and squirrels can get caught in the flue and will eventually die.  You may not even notice any od...

If you are considering professional property management, it makes sense to comparison shop, but beware of discount management fees.  If you find someone who charges 2% less than others on the management fee of a $1,200 monthly rental, that's a savings of $24 a month which adds up to a whopping $2...

For the week ending January 9th, there were a few more foreclosed properties in inventory for Southside Hampton Roads, but as a percentage of available properties, there was a slight decline to 13.91%.  Portsmouth had the largest gain with 184 available REO listings. If you are considering buying...

5110 Condor Street Virginia Beach, VA Click For Listing Website Click For Interactive e-Tour This single story townhouse is located just off Witchduck Road near Town Center, Virginia Beach. Convenient to public transportation, Virginia Beach Boulevard, and I-264, you?re only minutes away from wh...

In this, my first foreclosure data post for 2011, we have hit a new level of REO's in our local inventory for Southside Hampton Roads.  14% of the available inventory is now an REO listing and approximately 500 non REO listings expired or were withdrawn during the last week of 2010. For those hom...

The Southside Hampton Roads market has a wonderful selection of REO properties on the market.  In the past week, the number of available REO's rose to 1215, or 13.14% of the overall market which includes 8030 non-REO properties.  Pending sales that have a contract with contingencies removed and a...

REO properties as a percentage of available inventory in Southside Hampton Roads (Virginia Beach, Norfolk, Chesapeake, Suffolk, and Portsmouth) edged up slightly to 11.83%, a 2.6% increase from the prior week.  Norfolk lead the gain with another 10 properties representing a 3.7% increase.  Chesap...

There is some confusion about the new filing requirements for IRS form 1099 as it pertains to landlords.  Hopefully this will clarify some of that.  IRS form 1099 is filled out by the entity MAKING PAYMENTS to another non corporation in excess of $600 in the calendar year.  One copy goes to the I...

As a provision of your lease, the tenant should be held to provisions outlined in a tenant handbook.  This handbook will serve two purposes.  First, it will reiterate and clarify some of the lease provisions such as responsibility to clean gutters, change air filters, or keep lawns tidy.  Outline...