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 law paves way for delivery robots

Having your groceries delivered by a robot sounds like something out of The Jetsons, but that prospect is not as futuristic as you may think.

For the second year in a row, the Virginia General Assembly has passed a law to legalize the operation of autonomous vehicles. Beginning July 1, “electric personal delivery devices” will be allowed to operate on sidewalks and other shared-use paths throughout Virginia.

> Read more.

Virginia schools must soon test for lead in water

With the water crisis in Flint, Michigan, safe drinking water is a high priority nationwide, especially for children. Beginning July 1, schools in Virginia will be required to test their potable water for lead.

Senate Bill 1359, which Gov. Terry McAuliffe signed into law on March 20, seeks to ensure that local school boards test the drinking water in schools and that it meets federal guidelines. The Food and Drug Administration recommends that the level of lead not exceed 15 parts per billion. > Read more.

Business in brief


The Virginia Society of Certified Public Accountants (VSCPA) has announced its officers and Board of Directors for the 2017–18 fiscal year. At-large Board members include: Anne B. Hagen, CPA, of Masonic Home of Virginia in Henrico. The officers and directors were sworn in at the VSCPA’s annual business meeting on May 16 in Williamsburg. > Read more.

Free weekly 5k coming to Henrico

The Richmond metro area is no stranger to 5k races and events. To participate in most 5k events, runners must register and pay a fee. But the Parkrun organization will be providing Henrico County with a free 5k every Saturday at Deep Run Park starting June 3.

Parkrun began in England in 2004 and eventually found its way to the U.S.

The Deep Run Parkrun program will be the 10th one in the U.S., said Darrell Stanaford, the country manager for Parkrun USA. > Read more.

State Police urge motorists to #MoveOver during Memorial Day weekend

Memorial Day signifies the official start of summer, and Virginia State Police officials are urging motorists to "do what’s right when they see lights" and move over.

The “Move Over” law is a lifesaving law intended to protect public safety professionals and highway workers who help to maintain the safety of the Commonwealth’s roads. State Police are using the #MoveOver hashtag on social media to promote the law. > Read more.

Henrico Business Bulletin Board

May 2017
S M T W T F S
·
1
·
·
·

Calendar page

Classifieds

Place an Ad | More Classifieds

Calendar

The Short Pump Rotary Group meets every Tuesday from 11:45 a.m. to 1 p.m. at Keagan’s Irish Pub and Restaurant in West Broad Village. Full text

Your weather just got better.

Henricopedia

Henrico's Top Teachers

The Plate