Richmond, VA Real Estate News

By Pat Paca
(Joyner Fine Properties)
Whether you see it on your television set or read it in the newspaper - don't believe everything you are seeing and hearing about the real estate market. The real estate market is in a slump for most of the nation, that you can believe. Richmond is currently experiencing a buyer's market, that you can believe. Now is not the time to sell or buy, that you cannot believe. A good time to buy or sell real estate depends on you and your personal circumstances. Location is always a major factor in real estate. Some locations in the nation are seeing some very depressing statistics but that is not the case in Richmond, Virginia. Interest rates are low, the supply of homes on the market is outstanding, the choice of types of homes is tremendous, some special incentives are being offered to buye...
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By Inside Richmond Real Estate
(Inside Richmond Real Estate)
The University of Richmond is a private, liberal arts university occupying 350 suburban acres on the western edge of the city of Richmond, Virginia. There is a 10 acre lake and the majority of buildings are a traditional Collegiate Gothic style built around open grass areas. The Princeton Review has repeatedly named The University of Richmond as one of the most beautiful campuses in the nation. Ninety percent of students live on campus throughout their time as undergraduates, so the university has a small, intimate feel that can be lacking in larger institutions. 2857 undergraduate students, 697 master's and professional students, and 855 continuing education students are distributed over 5 schools: the School of Arts and Sciences, the Robins School of Business, the Jepson School of Lea...
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By Inside Richmond Real Estate
(Inside Richmond Real Estate)
About an hour's drive to the West of Richmond, along the Rivanna River and in the shadow of the Blue Ridge Mountains, lies the town of Charlottesville, Virginia. Formed in 1762, Charlottesville saw action during the Revolutionary War and the Civil War and can boast that it has been home to three presidents - Thomas Jefferson, James Madison, and James Monroe. The first of these three US Presidents, Thomas Jefferson, is perhaps Charlottesville's most famous son. His estate, Monticello, still stands today and is a popular attraction for both tourists and locals. Tours of the main house and grounds are available year round, and visitors can also explore various gardens and outbuildings. Besides serving as the third president of the United States, authoring the Declaration of Independence, a...
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By Wanda Fears, ABR CRS GRI SFR WCR
(Long and Foster Real Estate, Richmond Virginia)
 Real estate is not a national market it is a regional market, and the Richmond,Virginia regional market is holding its own. Yes we have a higher inventory but over all our prices are up from 263,000 to 277,000 in Nov. and Dec.2007 Our list price to sale price was close to 97% both months. What a great way to end a year when most one of the media kept telling us our markets had tanked. Our local experience is not that the market is bottoming out , it is adjusting to a great 7 year run. Yes the market is slower but the benefits to buyers and..... sellers....  (most of them are going to be buyers too) are excellent.With increased inventory we have more selections, and no price war bidding.The buyer can take their time and get all the inspections they need to feel like they are purchasing ...
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By JD & Lynda Donahue
(Long & Foster, Realtors)
It's the HOLIDAY'S and the whole family is here stay for the week, OH BOY!!!  O.K. fast forward 3 days: You still have to go to work, if for no other reason than to afford the tons of food these locusts, who share your last name, can eat in a 24 hour period. Now it's 5:30 and your heading to Ukrops, Kroger... ______ your favorite here, and you just know that the lines will be 39 people long buying locust food just like you. Somewhere in the back of your mind there's a little you saying, "Let's just go out for dinner"! Great, now the problem becomes not ‘what' but rather ‘where', and WOW are you glad that you printed off this terrific top 5 restaurants list from the web today! Suddenly the sun is shinning, the birds are chirping and... no, not really, it's still the end of December after...
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By Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
(RE/MAX Commonwealth)
Here's some advice for potential investors:* Know your market. Buy in a familiar neighborhood, near where you live, work or go to college. * Research the area thoroughly, identifying potential properties and other business opportunities. * Observe trends, costs, vacancies, and potential appreciation. * Assess your own skills. If you have to hire out maintenance, costs will hit the bottom line. * Start small. A single-family home or a duplex is a good beginning. Plan to hold it for at least three years. * Avoid foreclosed properties. They are complicated to buy and they aren't a guaranteed deal. * Be pre-approved for financing. Most investment property loans require at least 10 percent down. * Remember, dealing with people is key, so hold onto your sense of humor.* Develop an appropriate...
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By Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
(RE/MAX Commonwealth)
Since the city started their vacant building registry they've closed more than 600 of them, working block by block to identify the homeowners responsible, forcing them to clean up their properties one way or another.If you know of a vacant building in your neighborhood you can post it on the http://www.vacantrichmond.com web site or you can call the city's citizen's request number at 646-7000. CONTACT ME for assistance with RICHMOND REAL ESTATEMohamed Mekhimar , Realtor®, Accredited Buyers Representative , RE/MAX Commonwealth, mekhimar@remax.net, (804) 243-0605 Cell, (804) 288-5000 Office, (804) 288-8989 Fax, http://www.richmondvahomes4sale.com/, Licensed in the Commonwealth of Virginia By the way...if you know someone who is interested in buying or selling real estate in the Richmond V...
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By Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
(RE/MAX Commonwealth)
158 homes built by 63 builders will be open to the public for viewing. Some are decorated models. One is a remodeled home. The event, sponsored by the Home Building Association of Richmond, features the latest in home designs and construction techniques and materials.The show runs Oct. 7, Oct. 13-14 and Oct. 20-21. The homes will be open from 11 a.m. to 5 p.m. The remodeled home will be open only Oct. 13-14.Admission is free.Home prices range from the high $100,000s to more than $1 million. The houses are in Richmond and Hopewell and in Goochland, Louisa, Henrico, Hanover, King William, New Kent, Dinwiddie and Chesterfield counties. Mohamed Mekhimar , Realtor®, Accredited Buyers Representative , RE/MAX Commonwealth, mekhimar@remax.net, (804) 243-0605 Cell, (804) 288-5000 Office, (804) 2...
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By Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
(RE/MAX Commonwealth)
The Greater Richmond Region is a wonderful place to live, work and play. While we all have our reasons as to why we call the Greater Richmond Region home.The 3RD BEST METRO CENTER FOR BUSINESSDow Jones MarketWatch, September 21, 2007 The 6TH BEST METRO AREA FOR BUSINESS OPPORTUNITY Expansion Management's "Mayor's Challenge" ranking, August 16, 2007RICHMOND LAW FIRMS MAKE WORKING MOMS PROUDHunton & Williams and McGuireWoods listed among Working Mother magazine's 50 Best Law Firms for Women in 2007.inRich.comThe METRO AREA WITH THE LOWEST FORECLOSURE RATE for the first half of 2007RealtyTrak, August 2007Ranked 27TH OF THE NATION'S 361 METROPOLITAN STATISTICAL AREAS for long-term economic strengthPolicom Corporation, 2007The 6TH BEST MEDIUM SIZE MARKET FOR RELOCATING FAMILIES (population o...
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By Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
(RE/MAX Commonwealth)
Buyers come out, wherever you are!! Haven't you heard it's a "Buyer's Market"? In fact, many sellers are desperate to sell their homes. The inventory of available homes has not been this large in more than 6 years. Interest rates are still very good. Prices have gone down significantly. This is the time to buy! The market will come back, will not stay like that forever, the housing market will be back after the next election cycle ends, spring of 2009!!  Mohamed Mekhimar , Realtor®, Accredited Buyers Representative , RE/MAX Commonwealth, mekhimar@remax.net, (804) 243-0605 Cell, (804) 288-5000 Office, (804) 288-8989 Fax, http://www.richmondvahomes4sale.com/, Licensed in the Commonwealth of VirginiaBy the way...if you know someone who is interested in buying or selling real estate in the ...
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By Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
(RE/MAX Commonwealth)
The Appomattox River Water Authority is asking people and businesses to cut back their use of water, since the Lake Chesdin reservoir is low.The authority serves residents and businesses in Chesterfield County, Colonial Heights, Dinwiddie County, Petersburg and Prince George County.The authority suggests not watering lawns or washing cars, and trying to run full instead of partial loads of laundry as ways to help make the region's water supplies stretch farther.Voluntary restrictions are still in place in Richmond and the counties of Chesterfield, Goochland, Hanover and Henrico.(Source: InRich.com)  Full Story .... Mohamed Mekhimar, Realtor®, Accredited Buyers Representative - ABR , RE/MAX Commonwealth, mmekhimar@remax.net , (804) 243-0605 Cell, http://www.richmondvahomes4sale.com/  Lic...
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By Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
(RE/MAX Commonwealth)
The real estate market is always changing. It helps to understand how market conditions can affect your position as a Buyer. Buyer's Market:The supply of homes on the market exceeds demand. High inventory of homes with fewer buyers. Homes sit on the market longer while prices tend to drop. You'll have more time to look for a home and more negotiating leverage. Seller's Market:The number of Buyers wanting homes exceeds the supply of homes on the market. A smaller inventory of homes. Homes sell quickly. Prices usually increase. You'll need to make decisions quickly. Conditional offers may be rejected. Balanced Market:The number of homes on the market is equal to the demand or number of buyers. Demand equals supply. Sellers accept reasonable offers. Homes or condos sell within an acceptabl...
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By Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
(RE/MAX Commonwealth)
Style Weekly annual ranking of who runs Richmond VA.Key to Symbols: Movement up in ranking.Movement down in ranking. Same rank as last year.New to this list. 1. Eugene Trani Yes, it's frozen down there. Solid. But don't say we didn't warn you. Our annual ranking of power isn't a popularity contest. It's a measure of resources and who controls them. Of a person's ability, capacity and will to foster change locally.Success at generating headlines is one way to gauge power in this town, which, if you haven't caught on, has been the sole property lately of one Eugene P. Trani.Well, someone else is good at generating press, too - Mayor L. Douglas Wilder, who held our No. 1 spot for two years running. But he's just not making sense anymore. There are too many aimless fights and ridiculous pro...
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For those of you wondering a little more about The Keller Williams Family Reunion... Visit http://familyreunion.kw.com/ for more information! Here is the itinerary:Schedule of EventsSessions and times are subject to change without notice.     Saturday February 912:00 PM-7:00 PMRegistration and InformationSunday February 107:00 AM-8:00 PMRegistration and Information9:00 AM-11:00 AMMastermind Sessions (Agent and Leadership)11:30 AM-12:30 PMFirst Time Attendees Session11:00 AM-6:30 PMExhibit Hall Open1:00 PM-4:00 PMKWU Workshops1:00 PM-2:30 PMMega General Sessions (Agent, Leadership, and MCA)3:15 PM-4:30 PMMega Breakout Sessions (Agent, Leadership, and MCA)7:00 PM-10:00 PMThe Red Bash - Welcome PartyMonday February 117:00 AM-9:00 PMRegistration and Information9:00 AM-11:00 AMOpening Sessio...
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By Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
(RE/MAX Commonwealth)
Jimmie Johnson swept the 2007 NASCAR races at Richmond International raceway. With a commanding 3.132 second victory, Johnson takes a 20 point lead into the 2007 Chase for the NEXTEL Cup. The driver of the #48 Lowe's Chevrolet beat out Tony Stewart (#20 Home Depot Chevrolet), rookie David Ragan (#6 AAA Ford), Jeff Gordon and Johnny Sauter (#70 Radioactive Energy Drink / Yellow Chevrolet) to claim one of the finest trophies offered at any race track. Johnson joins Rusty Wallace (1989), Dale Earnhardt, Sr. (1987), Bobby Allison (1983), Richard Petty (1967, 1971, 1972, 1973) and David Pearson (1966) as drivers who swept both of Richmond's NASCAR races in one season.(Source: Richmond International raceway)  Full Story ....  Mohamed Mekhimar, Realtor®, Accredited Buyers Representative - ABR ...
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By Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
(RE/MAX Commonwealth)
Fifty years ago, Ruth Erb was a young violinist in the fledgling Richmond Symphony.  "It was very exciting at the time because it was new," she said.  "It was fun.  We earned just enough to pay the baby sitter."Musicians earned $5 for rehearsals and a bit more for performances. The first season consisted of three concerts.That scale is grander today. The group performs more than 200 times annually. An estimated 250,000 listeners enjoy its music via concerts and weekly broadcasts.(Source: InRich.com) Full Story . . .
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By Inside Richmond Real Estate
(Inside Richmond Real Estate)
There is a lot of debate going on at the moment about the best way to revitalize the areas surrounding Downtown Richmond. The major gripe people have seems to be that certain areas, such as portions of Broad, Hull, and Marshall Streets, are cut off from the rest of the city and are marred by unsightly scenery such as vacant lots, chain link fences, overhead utility lines, damaged sidewalks, and so on. If you search the internet or attend a community workshop, such as the one that will be held on Thursday September 27 2007 at The Renaissance Conference Center, you will be presented with plans for eradicating these eyesores that include: new sidewalks with no cracks, buried utility lines, street trees, special lighting, bold crosswalks, new buildings with large windows, stoops, and awning...
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By Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
(RE/MAX Commonwealth)
The 69th National Folk Festival presents the final list of performing groups for the large, FREE, three-day event, Oct 12-14, 2007, on downtown Richmond's riverfront. These artists include: Junk Yard Band - Go-go, Big Country Bluegrass - bluegrass, Cindy Cashdollar, Elana James, and the Hot Club of Cowtown - Western Swing, Bryan Bowers - Autoharp player and singer, Karan Casey - Irish Song and Music, Dovie Thomason Sickles - Native American Story Teller, Moges Seyoum & The Yared Choir - Ethiopian Christian Liturgical Music, Manoocheher Sadeghi - Persian Santur, Palabuniyan Kulintang Ensemble - Philipino Gong Orchestra, Wild Style 25th Anniversary - Hip-hop Innovator, Marimba Linda Xelajú - Guatemalan Marimba, The Jerry Grcevich Tamburitza Orchestra - Tamburitza Musician and Composer, Me...
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By Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
(RE/MAX Commonwealth)
By Les Christie, CNNMoney.com staff writer The lowest foreclosure rate recorded by RealtyTrac among the 100 metro areas surveyed was in Richmond, Virginia. It had just one for every 2,319 households, about the same as a year ago and a rate barely more than 1 percent of Stockton's.Foreclosure rates for top 100 metro areas. Rate RankMSAForeclosure Filings1 filing for every #HH%Δ from First Half 20061STOCKTON, CA8,169272562DETROIT/LIVONIA/DEARBORN, MI28,70529993LAS VEGAS/PARADISE, NV22,928311424RIVERSIDE/SAN BERNARDINO, CA41,351331985SACRAMENTO, CA20,516362416DENVER/AURORA, CO23,84242117MIAMI, FL20,27546748BAKERSFIELD, CA5,365472229MEMPHIS, TN10,800491710CLEVELAND/LORAIN/ELYRIA/MENTOR, OH18,8445010611FORT LAUDERDALE, FL15,720507212ATLANTA/SANDY SPRINGS/MARIETTA, GA36,502541713FORT WORTH/AR...
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By Mohamed Mekhimar - Accredited Buyers Rep , E-Pro - Richmond Virginia Real Estate
(RE/MAX Commonwealth)
A big merger will cost Richmond area about 2,000 jobs. Wachovia has announced it will either eliminate or move about 2,000 positions that are in the Richmond area.It's part of the Wachovia Securities merger with the brokerage firm A.G. Edwards, and brokerage headquarters move to St. Louis. Wachovia Corp. is buying A.G. Edwards in a $6.8 billion deal.Wachovia Securities has employees in its downtown riverfront office and in Innsbrook. When it does move to St. Louis, it will leave some unoccupied lots office space.About the residential housing market, more houses to sell, The good thing is they will not be leaving at the same time. Most houses are expected to sell in 4 to 6 months, Buyer's market!!
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