Henrico County VA

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

The Rink to open at WBV Nov. 14

The grand opening of The Rink outdoor ice skating rink at West Broad Village will be held Saturday, Nov. 14, beginning at 11 a.m. with skating and family activities. At 4 p.m., grand opening festivities – featuring exhibitions of ice sculpting, ice skating and cheering, as well as fire pits, costumed characters, and food vendors – will begin. Skating costs are $8 for children and $10 for adults, with $4 skate rentals available. Parking is free. The Rink is located at 3939 Duckling Drive, Glen Allen. For details, visit http://www.Facebook.com/TheRinkWBV > Read more.

Virginia Christmas tree guide now available

Looking for a Virginia-grown Christmas tree this year? You can find a list of all locations that offer trees in the 2015 Virginia Grown Christmas Tree Guide, published by the Virginia Department of Agriculture and Consumer Services (VDACS) in cooperation with the Virginia Christmas Tree Growers Association. The guide is designed as a resource for finding choose-and-cut, fresh-cut and live Christmas trees across the state. Complimentary copies are available through tourist information centers, libraries and Virginia Cooperative Extension offices.

“Most choose-and-cut tree farms and retail lots open the Friday after Thanksgiving,” said VDACS Commissioner Sandra J. Adams. > Read more.

Restaurant watch

Find out how your favorite dining establishments fared during their most recent inspections by the Virginia Department of Health. > Read more.


Reader Survey | Advertising | Email updates


DONATE YOUR CAR, TRUCK OR BOAT TO HERITAGE FOR THE BLIND. Free 3 Day Vacation, Tax Deductible, Free Towing, All Paperwork Taken Care Of. 888-617-1682
Full text

Place an Ad | More Classifieds


CAT Theatre and 5th Wall Theatre will co-produce “Unexpected Tenderness” Jan. 22 through Feb. 13 at CAT Theatre, 319 N. Wilkinson Rd. Written by Israel Horovitz, “Unexpected Tenderness” is the… Full text

Your weather just got better.


Henrico's Top Teachers

The Plate