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."
Bail Bonds Chesterfield VA

New utility services number for metro area

Richmond city, Henrico, Chesterfield and Hanover county natural gas customers have a new number to call for their utility services.

The City of Richmond Department of Public Utilities has replaced its old number, (804) 646-7000 as well as 311, with it's new number, (804) 646-4646 for all calls relating to utilities. Utilities include natural gas, water, sewer, storm-water and electric street-lighting. > Read more.

Henrico County property transactions, July 10-16


A sample of property transactions during this period appear below:

3714 Pemberton Ave.- $105,000, 720 SF (built in 1957), from William F. Patton Jr. to Jessica Garcia.

510 Besler Ln.- $121,000, 964 SF (built in 1986), from Joseph and Coral P. Bolden to Taneen Marlow.

3502 Westcliffe Ave.- $140,000, 1,564 SF (built in 1947), from Benny H. Wilson Jr. to Benjamin A. Nyannor. > Read more.

FirstComp Insurance Company, Markel Corp. named top insurance carriers


Two Glen Allen-based insurance carriers have been named among the top such companies in the nation.

Markel Corp. and FirstComp Insurance Company (now owned by Markel) are among 38 carriers recognized on the Insurance Business America list of the top insurance carriers in the country. > Read more.

Walmart honors Citizen’s ‘Top Teachers’ during grand opening


The much-anticipated new Walmart Supercenter in Eastern Henrico opened to busy crowds last week, and company officials welcomed a special group of shoppers, too. > Read more.

‘It’s such a blessing’


On Independence Day, a Brazilian-born Henrico resident took the Naturalization Oath of Allegiance on the steps of the Virginia Historical Society and felt peace finally settle around her.

Jeanette Hamlett’s journey to U.S. citizenship is a story of faith and love, which she told with her husband, John Hamlett, by her side. > Read more.

Henrico Business Bulletin Board

July 2017
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The Alzheimer’s Association Greater Richmond Chapter will present “Know the 10 Warning Signs of Alzheimer’s” from 6 p.m. to 8 p.m. at Good Shepherd United Methodist Church, 9155 Hungary Rd. Advance registration is required by calling 967-2580. Full text

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