Foreclosures for 3.9.10

In the past week both Chesterfield and Henrico Counties saw a significant increase in the number of properties going to public auction, while Richmond City saw its numbers drop by more than half. Chesterfield County has 32 new foreclosed properties headed for the courthouse steps, compared to 24 the week before, and Henrico has 19 new properties, nearly twice the amount of its 10 properties last week.

The average loan value for a foreclosed property in Chesterfield rose from $167,306 to $177,021, and in Henrico it dropped from $214,095 to $193,079. The number of new foreclosed properties in Richmond City fell mightily from 22 last week, to 9, but the average loan value is fairly comparable at $120,944 to $122,204, respectively. Hanover County, who only reported one new property headed for public auction, has the highest average loan value at $348,548 from last week’s listing.

Foreclosures for 3.2.10

The last week of February was a busy one for Richmond’s foreclosure market, as each of the surrounding counties saw an increase in foreclosed properties, except for Hanover. In Richmond City the number of properties with a set public auction date doubled from the week before from 11 to 22.  As in most weeks, most of the properties are at the lower end of the market. But there are several properties valued at more than $400,000.

Foreclosures 2.23.10

In the latest round of foreclosures Richmond city and the surrounding counties of Chesterfield and Henrico faired nearly the same. This week’s additions included an increase in premium properties with 11 properties with loans of $300,000 or more, versus 6 properties from last week. Two properties in particular should attract some attention: the home at 4511 W Cary St., which Realty Trac estimates at $379,629, defaulted on its $648,000 loan, and the restaurant space at 814 W Grace, currently Hyperlink Cafe,  defaulted on a $675,000 loan. Bank owned properties Richmond city 5 Poe St., Richmond, VA 23222 -Estimated market value: $147,648 -Recording date: February 2, 2010 -Owner: Bank of America -Single family residence 3209 Woodrow Ave., Richmond, VA 23222 -Estimated market value: $103,559 -Recording date: February 5, 2010 -Owner: Freddie Mac -Single family residence 3115 Woodrow Ave., Richmond, VA 23222 -Estimated market value: $92,161 -For sale list price: $40,000 -Recording date: February 8, 2010 -Owner: HSBC -Single family residence 812 ...

Foreclosures 2.16.10

Foreclosures rose dramatically in the past week, and were once again focused on the city of Richmond more so than the outlying counties. REO properties, however, were down to a mere 11, but the number of public auctions, and properties awaiting public auction dates increased severely. Bank Owned Properties Richmond 3906 Taylor Dr., Richmond, VA 23235 -Estimated market value: $226,293 -For sale list price: $223,000 -Recording date: February 2. 2010 -Owner: Freddie Mac -Quadruplex 3205 ...

Foreclosures for 2.9.10

The number of properties going to pubic auction decreased dramatically since last week, while the number of bank owned properties saw a sharp increase. The vast majority of bank owned properties are located within Richmond City, and owned by a federal lending corporation.

Foreclosures for 2.2.10

This week the foreclosed properties have been arranged by county. Auctions are held on the steps of the respective county court house and are open to all. Auctions typically open at the amount the defaulted loan is for, which may or may not be less than the actual worth of the property. A third of this week’s properties have entered into the foreclosure process, but have not yet been scheduled for auction.

Bank owned 3025 Forest Hill Ave., Richmond, VA 23225 -Estimated Market Value: $174,000 -Recording Date: January 28, 2010 -Owner: N/A -Single Family Residence -Richmond City

3500 Howard Rd., Richmond, VA 23223 -Estimated Market Value: $108,829 -Recording Date: January 29, 2010 -Owner: N/A -Single Family Residence -Richmond City

Foreclosures for 1.26.10

Listings are organized by zip codes in numerical order. The most expensive property this week: 14201 Riverdowns South Dr. in Midlothian.

Bank owned foreclosures:

1315 Claiborne St., Richmond, VA 23220 -Estimated Market Values: $177,548 -Recording Date: December 14, 2009 -Owner: HSBC -Single Family Residence

3702 Westcliffe Ave., Richmond, VA 23222 -Estimated Market Values: $96,692 -Recording Date: January 8, 2010 -Owner: Department of Housing and Urban Development -Single Family Residence

3914 Genacre Ln., Richmond, VA 23222 -Estimated Market Value: $98,000 -Recording Date: January 4, 2010 -Owner: Deutsche Bank National Trust - Single Family Residence

Foreclosures for 1.19.10

BizSense is adding another weekly data section. Starting today, we will run a list of new properties that are in the process of foreclosure. Over time we hope to add more information to the list, such as the size of the loan and a possible sale price.

Please email us what sort of information would be even more helpful, as we hope to improve this regular feature in coming weeks and months.

The 32 bank owned properties reported this week are spread among 14 different banks or lending organizations, and of those 32 properties Virginia Commonwealth Bank owns 13. State or National government organizations own 7 of the properties, and aside from the VCB no private bank owns more than two properties.

Auctions

9306 Telstar Dr, Richmond, Va 23237 -Originally $64,500 on March 26, 2004 -public ...