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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Kaine, McEachin to host Service Academy Day


Congressman A. Donald McEachin (VA-04) and Senator Tim Kaine (D-VA) will co-host their Service Academy Day to educate high school students about the service academy nominations process, an honor awarded by members of Congress for students interested in attending a service academy after high school.

The event will take place Saturday, Sept. 16, from 10 a.m. to noon, at Matoaca High School, 17700 Longhouse Lane, Chesterfield 23838. It will provide an opportunity for high school students and parents to learn about the nation’s military academies, a career in military service and the nominations process. > Read more.

Red Cross, Sport Clips offer free haircuts to blood donors


The American Red Cross and Sport Clips are partnering to provide free haircuts to anyone who donates blood or platelets to the Red Cross during September.

Blood donors of all blood types, especially type O negative and O positive, are urgently needed to replenish the blood supply following a critical summer blood shortage. > Read more.

Back to work


Above, Mills Godwin football player John Dudley cools down with a splash of water during a break from practice earlier this month. High school football teams throughout the county and region are continuing their summer practices in anticipation of the start of their seasons later this month. > Read more.

McEachin to host Henrico town hall meeting


U.S. Congressman Donald McEachin (VA-4th District) will host a town hall meeting Aug. 29 at the Eastern Government Center, 3820 Nine Mile Road in Henrico. The event will run from 6 p.m. to 7:30 p.m. and is open to the public. McEachin will address issues raised by attendees and provide details about services available through his office. > Read more.

Nonprofit awards $38k in book scholarships


The KLM Scholarship Foundation awarded more than $38,000 in book scholarships to 36 students during its 2017 Book Scholarship Awards Ceremony at Linwood Holton Elementary School in Richmond Aug. 5. The students will attend 14 Virginia colleges in the fall. Each has excelled academically, maintaining a 3.0 GPA or better, while demonstrating strong community leadership qualities.

WWBT/NBC12 Raycom Media Vice President and General Manager Kym Grinnage was the guest speaker. > Read more.

Henrico Business Bulletin Board

August 2017
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The 34th annual Virginia Outdoor Sportsman Show will be held from 1 p.m. to 8 p.m. Aug. 11, 10 a.m. to 7 p.m. Aug. 12 and from 10 a.m. to 5 p.m. Aug. 13 at the Richmond Raceway Complex. The show features more than 150 exhibitors and vendors. See the latest products, speak with guides, participate in seminars and demos and meet celebrity outdoor sportsmen. There will also be a trophy deer competition, the Virginia State Turkey Calling Contest, food, an archery range, trout pound, decoy painting and BB gun range. Admission is $5 to $10; ages 16 and under are free. For details, call 748-7469 or visit http://www.sportsmanshow.com. Full text

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