Summary of 2nd quarter Richmond area housing analysis from Richmond Association of Realtors
SUMMARY OF THE CENTRAL VIRGINIA AREA HOUSING MARKET ANALYSIS nd Quarter 2010 The national economy slowed in the second quarter of 2010 as many indicators decelerated from their growth rates in the last half of 2009 and the first quarter of this year. One of the reasons for the slowdown in the economic recovery was a growing concern about the financial stability of Western Europe. This concern caused some negative volatility in the financial markets... [Read More...]
Urban vs. Suburban? Interesting article about the future of the housing market
Click on link below to see an interesting article on urban vs suburban real estate: http://toughmoneylove.com/2008/08/22/disturbia-in-suburbia-a-permanent-decline-in-residential-property-values/ Read More →
Some good news in the local Richmond housing market
Henrico leads way as region home sales surge Credit: TIMES-DISPATCH Henrico County led the Richmond metro area in the boost in home sales. By Carol Hazard | TIMES-DISPATCH STAFF WRITER Published: July 23, 2010 The housing market in the Richmond area has turned upward, with sales outpacing the nation and state, according to reports released yesterday. The number of new and previously owned houses sold in Richmond and in Chesterfield, Hanover... [Read More...]
Six Facts about Virginia’s Real Estate Market
This is a reprint of information sent out to the Realtor membership of the Virginia Association of Realtors to pass on to interested parties regarding the status of the Virginia real estate market. Six Facts about Virginia’s real estate market: Virginia Neighborhoods are in Better Shape. Statewide year-over-year foreclosures are down 2.4% from last year, and that means more stable prices for homes on the market today. Market Activity is Up.... [Read More...]
FHA loans are back in a big way
Since the death of 100% financing loans, FHA loans are back again and in increasing numbers as the the most attractive financing available. FHA or Federal Home Administration loans have been around since 1937 as a way to promote home ownership through a loan guarantee program administered by the U. S. Department of Housing and Urban Development. Basically, the federal government guarantees repayment of loans made by private lenders to qualifying... [Read More...]
First time homebuyer tax credit is expired – what happens now?
Now that the first time home buyers tax credit is expired many are wondering how the Richmond real estate market will respond. Certainly the biggest portion of the first quarter sales were from the first timers leading to a flurry as we got to the last week of the credit. Indications so far are good. Everyone in the office is busy two weeks after the deadline has expired. Personally, I am busy with investor clients that want to take advantage of... [Read More...]
“White flight” from cities in yesteryear turns into “Bright flight” back to cities today
“White flight” out of cities is more like “Bright flight” back in. I found this article while surfing the web which talks about a new trend of people coming back to the cities and a reversal of demographics between Urban and suburban areas in America. I have definitely seen evidence of this in the City of Richmond. We have seen net gains in the population in the City reversing a twenty year trend of shrinking population size. We... [Read More...]
New George Mason Report Sheds Light on the Market
Researchers at George Mason University have prepared a detailed analysis of the Q1 real estate results for both the country and the Richmond VA area. The findings are very interesting. On the economy, the report points to improvement nationally citing: the U.S. Leading Economic Index has increased for eight consecutive months, Gross Domestic Product (GDP) was up 5.6% in the Fourth Quarter of 2009, and retail sales have improved since the first quarter... [Read More...]
Richmond VA Seen On The Mend
Industry magazine Builder includes a study this month by a research firm called Market Intelligence that suggests that the Richmond area is likely to be one of the early beneficiaries of an improving economy. Housing economists have long held that the housing rebound, when it comes, will be uneven. The markets that benefit first will be the ones with the strongest core dynamics; places where house prices never got out of hand, cities where a diverse... [Read More...]
