Realtor Drick's Real Estate Blog

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Real Estate Agent - NEPTUNE REALTY - 0225-075558
Drick Ward's blog about all things real estate. Call Drick Ward, Broker Associate at Neptune Realty at 757-575-5156 for all of your real estate needs. Serving all 7 cities of Hampton Roads from Virginia Beach.
RECENT BLOG POSTS
This week, there was little change from the prior week in foreclosures as a component of overall inventory.  This could be the bottom since the number has steadily fell since the beginning of the year.  If that is the case, the banks might start releasing the shadow inventory so many people have ...
05/29/2011
Although there are rumors of shadow inventory, it hasn't seemed to hit the market yet.  For the week ending May 22, foreclosures represent 8.44% of the available inventory for Southside Hampton Roads.  Overall, distressed sales represent about 21% of available inventory or one in five houses curr...
05/27/2011
When is it ok to pay full price for a house?  If you listen to the national news, you might think it's NEVER a good idea to pay full price for a house, after all, they say it's a buyer's market--the buyer is in control.  However, real estate is local, so just because the national news may be all ...
05/24/2011
Absolutely. If you are talking about a TV or home appliance.  However if you mean a house, that's a very expensive and not so satisfying route to homeownership. The obvious question is WHY? If your credit is bad, who would want you in their rental, you're a bad risk because you've demonstrated an...
05/22/2011
With so many social media outlets and avenues today, real estate agents are bombarded with self proclaimed guru's ready to spread the gospel of social media and the amazing untold riches your participation will bring.  Problem is, some of those plans are well thought out and for those of us who D...
05/20/2011
I was amazed at a story a high profile REO listing agent recently told.  Most of us know that many banks will offer cash-for-keys to occupants (tenant or foreclosed homeowner) who depart voluntarily from a foreclosed property and leave the property in CLEAN AND EMPTY condition.  Because this save...
05/17/2011
This week, distressed properties as a percentage of overall market inventory for Southside Hampton Roads continued the decline started the first week of January.  Of overall inventory, 8.56% is REO and an additional 12.84% is SHORT SALE totaling 21.40% distressed properties. So for Southside Hamp...
05/16/2011
It is somewhat understandable why homeowners sometimes want to attempt selling their home themselves, they think that if they sell their own house, they will save the real estate commissions normally paid to the professionals.  The truth is that in most instances, they still need to pay the buyer...
05/09/2011
Foreclosure inventory continues to fall causing some to question if the time to buy is drawing to a close.  Of course, ANYTIME is a good time to buy a house if you have the right agent looking out for you, but when REO properties are plentiful, there are more bargains to be found. Many industry i...
05/08/2011
At least, it's that way in Hampton Roads, Virginia.  Several lenders I've spoken with lately have shared that in April, they processed more applications than the prior 3 months combined.  We are also witnessing a decrease in REO inventory and all distressed sales represent only about 25% of avail...
05/07/2011
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Drick Ward PropertyManagement / Broker Assoc

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