Housing market shows positive signs

The housing market in Central Virginia showed signs of improvement during the third quarter of the year, according to the Richmond Association of Realtors.

Home sales in the region rose 23 percent from the same period in 2010, and pending sales (a strong indicator of final sales) were up 11 percent as compared to the third quarter of 2010.

“The fact that the housing market in 2011 has outperformed the 2010 housing market through the first nine months of the year is amazing, considering that buyers had the inducement of a tax credit to spur their decision making last year and no such inducement exists this year,” said Cheryl Hamm, president of the Richmond Association of Realtors and Central Virginia Regional MLS. “Of course, sales prices continue to lag, but we've known all along that sale price would be the last indicator to turn around."

The main factors dampening the resurgence of home prices are the foreclosure inventory and the economic uncertainty of buyers and sellers, Hamm said.

“The continued presence of foreclosures in the market makes it difficult for sale prices to rebound when the region is viewed as a whole,” she said. “We are seeing some modest price increases in certain neighborhoods; we've even seen some multiple offer situations. In many instances, whether a home is selling and for what price is dependent upon the factors that have always been most important – location, the condition of the home, and the sale price.”

As major banks have resumed with processing foreclosures, an initial foreclosure uptick may be in store, but in the long run this will help promote the movement of foreclosure inventory.

"If positive economic indicators continue to show promise, consumer confidence should also improve, Hamm said.

“Can I predict what the fourth quarter will look like or how 2012 will shake out? No. The fourth quarter is typically seasonally slow, so I would not be surprised if that held true for this year as well," she said. "As for 2012, there are just too many variables abroad and here in the U.S. for me to make a prediction."
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Rock on!


The painted rocks craze is thriving in Henrico, as a walk around the grounds of local libraries and parks will demonstrate. This rock was spotted near Libbie Mill Library, and there's a slideshow of many more uniquely-painted stones on the RVA Rocks Facebook page (https://facebook.com/groups/RVARocks/).

Painting and hiding rocks is a family activity appropriate for all ages, and parents especially like the way it fosters creativity and gets kids outdoors. > Read more.

Goochland man arrested at RIC with gun


A Goochland County man was arrested at Richmond International Airport July 19 after Transportation Security Administration officers found a loaded semi-automatic handgun in the traveler’s carry-on bag.

A TSA officer detected the 9 mm caliber handgun inside the man’s carry-on bag as it entered the security checkpoint X-ray machine. The handgun was loaded with 12 bullets. > Read more.

Kansas man struck, killed while crossing West Broad Street

A 54-year-old Kansas man was struck and killed by a car while attempting to cross West Broad Street near Bethlehem Road in the Near West End at about 10:30 p.m., July 19.

Julius A. McBride of Overland Park, Kansas, was struck by a car traveling east on West Broad Street. > Read more.

Henrico Police warn citizens to ‘Take it, Lock it or Lose it’


Eastern parts of Henrico County have witnessed a recent increase in larceny from automobiles, so Henrico Police officials are spreading the word to encourage citizens to lock their vehicles.

Police are handing out and posting fliers and putting message boards in neighborhoods to educate residents.

There usually is a rise of larceny from automobiles during Christmas, spring and summer break, said Henrico Police Officer James Bupp. > Read more.

Glover to be inducted posthumously into Babe Ruth Hall of Fame


Late Brookland District Supervisor Dick Glover will be inducted into the Babe Ruth Southeast Region Hall of Fame during a ceremony Aug. 14 at RF&P Park at approximately 6:30 p.m., prior to a 14-and-under Babe Ruth World Series game. The Glen Allen Youth Athletic Association, which is hosting the World Series, made the announcement July 18. > Read more.

Henrico Business Bulletin Board

July 2017
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The Henrico Teen Theatre Company will present “Simply Cinderella” at 10 a.m. and 2 p.m. Aug. 2-5 at The Cultural Arts Center at Glen Allen. Overworked Cinderella swings her broom at the Fairy Godmother, thinking she’s a giant moth. Meanwhile, the Queen wants the Prince to choose a suitable bride, but he would rather play video games than dance with a girl. Admission is free. To reserve a seat, call 501-5859. Full text

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