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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Richmond Montessori School earns VAIS reaccreditation


Richmond Montessori School, an independent Montessori school for children ages 2 to 14, recently earned reaccreditation from the Virginia Association of Independent Schools. The VAIS accreditation program is one of only a few recognized at the national level through the National Association of Independent School's Commission on Accreditation and is also recognized and approved by the Virginia Board of Education through the Virginia Council for Private Education. > Read more.

Business in brief


Neil Burton, the founder of Strangeways Brewing in Henrico, will serve on the 2017-18 Leadership Council of The Virginia Craft Brewers Guild (VCBG). Burton will share the chairmanship of the Marketing & Tourism Committee with Kevin Erskine of Coelacanth Brewing. Other local brewers in leadership positions include Eric McKay of Hardywood Park Craft Brewery (VCBG chair), Hunter Smith of Champion Brewing Company (co-chair of the Government Affairs Committee) and Kate Lee of Hardywood (co-chair of the Quality Committee). > Read more.

James River Juvenile Detention Center to graduate its largest class

James River Juvenile Detention Center will celebrate its largest class of high school graduates June 27, as 13 residents receive their high school diploma or GED certificate.

The ceremony will be held at 10 a.m. at the detention center, 3650 Beaumont Road in Powhatan County. The graduates will mark their academic milestone by walking across a stage in a cap and gown before an audience of family members. A reception will follow. > Read more.

Henrico School Board selects redistricting Option E


JUNE 23, 10:30 A.M. – The Henrico County School Board Thursday concluded its latest redistricting process by selecting a plan for middle school redistricting that will impact a number of students in the western and northern parts of the county, as well as a few in Eastern Henrico.

The process sought to reduce overcrowding at Hungary Creek Middle School, create room at Wilder Middle School for a gifted academy and address the poverty level disparity among some middle schools. It will impact about 775 students, according to school system officials. > Read more.

‘Senior Cool Care’ program to help older adults in Metro Richmond


For the 27th year, Senior Connections, The Capital Area Agency on Aging is helping older adults combat summer heat through a program now called "Senior Cool Care" (formerly the Fan Care program) that provides fan and air conditioning units for eligible senior citizens.

The program is available to low-income older adults age 60 and older who reside in the City of Richmond and the counties of Charles City, Chesterfield, Goochland, Hanover, Henrico, New Kent and Powhatan. > Read more.

Henrico Business Bulletin Board

June 2017
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Sacred Heart Catholic Church, located at 1400 Perry St. in Richmond’s Manchester neighborhood, will hold its 9th annual Latino Festival from noon to 10 p.m. The street festival celebrates the vibrant Latin culture of many of the parish families from Mexico, Guatemala, Peru, Cuba and other Central and South American countries. Highlights include authentic cuisine, live entertainment, a performance by students of The Latin Ballet, raffle prizes, bounce houses and face painting for children, a mechanical bull ride for adults and the popular Miss Reinita contest for girls aged 6-11. Admission is free but guests are asked to bring a non-perishable food item for the parish food pantry. For details, call 232-8964. Full text

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