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."
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Community

Anthem LemonAid registration opens


Every week, another child is diagnosed with cancer in Central Virginia. Last summer, six-year-old Caroline Morris was one of them.

Diagnosed in June 2015 with acute lymphoblastic leukemia, the most common type of childhood cancer, Morris has been receiving treatment at Children’s Hospital of Richmond at VCU (CHoR) ever since.

“It’s not my hair that makes my beauty,” said Morris, who lost her hair as a chemotherapy side effect, “it’s my heart.” > Read more.

Richmond Solar Co-op sign ups end April 30


The sign up period for the Richmond Community Solar Co-op will close on April 30. Nearly 150 homeowners and businesses have joined the group to save money and make going solar easier. The group has started installations and is working with VA SUN to learn about solar technology and the process of going solar.

“If you’ve ever thought about going solar, this is a great opportunity to do so,” said Sekar Veerappan Co-op member and the group’s first installation. “Working with the group helps members learn about going solar and make an informed decision.” > Read more.
Entertainment

Weekend Top 10


Another great weekend of outdoor activities awaits you in Henrico! Walk MS, an annual charity run for multiple sclerosis, and the third annual Movin’ & Shakin’ 5K, to benefit the VCU Parkinson’s and Movement Disorders Center, both take place in Innsbrook tomorrow. Another charity event, the CASA Superhero Run, will be held at St. Joseph’s Villa. On Sunday, live music can be found at Belmont Recreation Center, featuring the John Winn Quartet, and at Shady Grove United Methodist Church, where pianist Sylvia Cooper will be performing. For all our top picks this weekend, click here! > Read more.






 

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Shady Grove United Methodist Church will present “Simple Gifts,” sacred and secular selections with pianist Sylvia Cooper, at 3 p.m. The afternoon concert and sing-a-long fully benefits The Center for… Full text

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