Walker’s Wholesale Houses

Buy Richmond Virginia Foreclosures

Foreclosures in Richmond and Virginia are at an all time high.

In the Richmond market, foreclosed properties dominate the MLS and thousands of pre foreclosures in Richmond VA are in process.

To buy a Richmond Virginia foreclosure, you could spend hours scanning the MLS for REOs, spending thousands of dollars advertising for sellers in pre-foreclosure, or simply outsource it.

That is where we come in.

We find Richmond VA pre-foreclosures and people wanting to avoid foreclosure for you.

Learn of Richmond Virginia Foreclosures

Here is how you learn of Richmond VA Foreclosures

We find the property in pre-foreclosure in Richmond.

We email our wholesale buyers that we have a property in pre-foreclosure available to them.

You receive our email, open it and read about the pre-foreclosure in the Richmond area.

You call us to see the house.

You put down a non-refundable good faith deposit to secure your closing (unless I can’t deliver title).

You buy the property that is the foreclosure process in Virginia.

That is how you do it with a company like this.

Get Richmond VA Pre Foreclosures by Email

To get our emails, simply join our wholesale buyers list.  You can only get word of our deals by joining our list.

We buy and sell pre foreclosure in Richmond, Glen Allen, Louisa, Goochland, Hanover, Chesterfield, Petersburg, Colonial Heights, Chester, Hopewell, Henrico and throughout all of central Virginia.

EMILY C. DOOLEY TIMES-DISPATCH STAFF WRITER

Published: June 9, 2009

The Richmond region has lost more jobs than any other metro area in the state, an economist said yesterday.

From when employment — the number of jobs — peaked in the Richmond area in August 2007 through March 2009, the region lost 26,000 jobs. The job losses included thousands resulting from the bankruptcies of Circuit City Stores Inc., LandAmerica Financial Group Inc., and Qimonda AG.

. . . . .

Virginia also is doing better than the nation. From March 2008 to March 2009, Virginia employment fell by 2.4 percent. During that same period, employment fell by 3.5 percent nationwide, the report said.

. . . . .

Another study could bolster that belief. A June 5 study conducted by the Society for Human Resource Management said more workers are expected to find jobs in June compared with the previous six months.

The study is based on a monthly survey of human resources officials at manufacturing and service-sector companies.

via In Virginia, layoffs hit Richmond area hardest | Richmond Times-Dispatch.

All real estate is local.  Here is a snippet from the May 20, 2009 Richmond Times Dispatch.  News on building permits and what new housing starts are happening.

RICHMOND VA Housing Market

In the Richmond area, there has been an increase in home sales but not much in home construction.

“Inventory levels are getting eaten up a little bit,” said Christopher Corrada, president of the Home Building Association of Richmond and vice president of East West Partners of Virginia Inc., a development firm in Midlothian.

“Even if the market is getting better, the biggest issue builders and developers face is they cannot get loans from banks. Banks are not lending on construction and development,” he said.

In Richmond area, 367 building permits were issued in the first quarter compared with 960 in the year-earlier period, a 62 percent year-over-year decline, according to Integra Realty Resources Richmond, a real estate research firm.

“We are still experiencing a continuing slowdown in the market,” said Tom Tyler, a senior analyst with Integra Realty.

Source: Housing slump could be near bottom | Richmond Times-Dispatch.

Published: April 24, 2009

Home sales in Virginia — including the Richmond area — continue to fall along with housing prices, but signs are emerging that the worst could be over, according to a report released yesterday by the Virginia Association of Realtors.

In Virginia, the median price of a house, with half selling for more and half for less, was $223,221, down 14.1 percent from the year-earlier period, according to the Realtors’ report.

However, the price was up 7.8 percent from the October-to-December period of 2008, indicating that prices could have reached bottom, housing experts said.

Statewide sales in the first quarter dropped 7.1 from the previous quarter and 4.7 percent from a year ago.

In perspective, sales are down 61 percent from their peak in the third quarter of 2005.

In the Richmond area, sales fell 18.2 percent from a year ago. The median sales price dropped 11 percent to $198,702, according to the report.

The central Virginia report shows the average number of days a house spends on the market in the Richmond area fell from 81 in January to 72 in March.

Most houses sold in the Richmond area in the first quarter were in the $100,000 to $199,999 price range. The next popular price range was $200,000 to $299,999. Only six houses sold for $1 million or more.

Elsewhere in Virginia, Prince William County and Manassas — with the most foreclosures in the state in 2008 — recorded the sharpest increase in sales, up 75.9 percent in the first quarter from a year ago. Median sale prices there fell 37.2 percent to $167,452 — the largest percentage drop in the state.

Sales in Northern Virginia rose 17.5 percent from a year ago, and median sales prices fell 19.5 percent to $325,400, the highest price in the state.

via Hints of upturn evident in Va. home sales | Richmond Times-Dispatch.

Published: April 23, 2009

The sale of previously-owned homes in Virginia fell 4.7 percent in the first quarter from the same period a year ago, according to a report released this morning from the Virginia Association of Realtors.

The median sales price, with half the houses selling for more and half for less, was $223,221, down 14.1 percent from the year-earlier period.

But the price was up 7.8 percent from the last quarter of 2008, indicating that prices may have reached bottom and are rising.

The number of unsold homes on the market at the end of March nationally fell 1.6 percent from a month earlier to 3.7 million. But due to the slumping sales pace, it would still take almost 10 months to rid the market of all of those properties.

via Reports cite Va., U.S. home sales declines | Richmond Times-Dispatch.

Va. foreclosure filings slow in February | Richmond Times-Dispatch.

Foreclosure filings in Virginia in February rose 15 percent from the same month a year ago — the smallest year-to-year percentage increase in two years, indicating that the flood of foreclosures may be slowing, according to a RealtyTrac report released yesterday.

What’s more, the number of filings — which includes default notices, auction sale notices and bank repossessions — fell 10 percent from January to February, according to the online research firm.

Virginia has experienced mostly triple-digit percentage increases in foreclosure filings during past two years, except for August and December of last year, in which filings rose 39 percent and 84 percent respectively.

Spotsylvania tops state in February foreclosures | Richmond Times-Dispatch.

Data from RealtyTrac.com shows that Spotsylvania County had the highest foreclosure rate in Virginia in February.

According to the data, statewide, one in 679 housing units received a foreclosure filing in last month. That includes notices of default or auction sale, and bank repossessions. The national rate was one in 440, up from one in 466 in January.

In Spotsylvania, the rate was one in 199 housing units.

The top of the list of Virginia’s 134 localities also included Stafford County, Manassas, Prince William County, Orange, Caroline, Culpeper, Fauquier, Fredericksburg and Louisa.

Va. unemployment jumps to 6.4% in January | Richmond Times-Dispatch.

State unemployment rate jumps to 6.4% January reading up sharply but below U.S. figure; all 10 metro areas report increase

Virginia’s unemployment rate spiked to 6.4 percent in January, a rate not seen here since June 1992.

The increase amounts to more than 115,000 additional people forced out of work over a dozen months.

“I’d say maybe half of it is the seasonal decline and the other half of it the slow business condition,” said William F. Mezger, the commission’s chief economist. January typically has high unemployment, but extended manufacturing furloughs and the recession added to the pain, he said.

While high, Virginia’s jobless rate was below the January national average, not seasonally adjusted, of 8.5 percent.

. . . . . .

The city of Petersburg had the highest unemployment rate in the area and the fifthhighest in the commonwealth.

Unemployment rose to 13.5 percent in January, more than double the rate of a year ago, when Petersburg had 6.8 percent unemployment.

The number of people seeking job advice at the Goodwill of Central Virginia’s community employment center in Petersburg has been increasing.

Virginia foreclosures in January fell 30 percent from December, but were 82 percent higher a year earlier, according to monthly data released this morning by RealtyTrac.

While good news, the month-to-month decline is likely attributable to a foreclosure moratorium by some lenders.

One in every 610 households in Virginia, or a total 5,366, received a foreclosure filing in January. Filings include notices of default, auction and foreclosure sales.

…

Virginia had the 15th highest rate.

According to a Richmond Times-Dispatch analysis of court records, there were 2,452 foreclosures in central Virginia in 2008, up 100.8 percent from 2007.

via Va. foreclosure rate reveals uncertainty | Richmond Times-Dispatch.

Published: January 27, 2009

Fewer homes were sold in the Richmond area last year than any year in the past decade, according to a report released yesterday by the Virginia Association of Realtors.

In all, 9,287 houses were sold in this area, lower than the 9,526 for all of 1998.

Sales here tumbled 22.8 percent in 2008 from the previous year, according to the housing report.

The average price fell 14.3 percent in the fourth quarter to $250,181 from the same period a year ago — below where it was in 2005.

The Richmond area is defined as the city, the counties of Hanover, Henrico, Goochland and Powhatan and portions of the counties of Chesterfield, Charles City, King William and New Kent.

The Central Virginia Regional Multiple Listing Service, which covers a larger area of 16 localities, reported that the number of homes sold dropped 23 percent and that the average price for the year was $264,467, down 3 percent.

Virginia

Sales of homes in Virginia fell 13.6 percent last year from 2007 to the lowest total in more than a decade.

The statewide median price, with half the houses selling for more and half for less, was $244,493, down 1.2 percent.

Nationally, sales of previously owned homes fell more than 13 percent in 2008 from a year earlier, the lowest total since 1997, according to a report released yesterday from the National Association of Realtors.

The nationwide median sales price was $175,400, down 15.3 percent from $207,000 a year earlier.

Although unemployment claims nationwide are rising and consumer confidence is bad, Virginia, unlike the nation, continues to add jobs, McClain said.

These factors help keep housing more afloat than in other states, he said.

The state added a net 13,100 jobs in 2008, based on data through November, he said. Also, unemployment in Virginia was nearly 2 percentage points below the national average in November, he said.

Virginia has not escaped the rising wave of foreclosures. But the state fared better than the nation, with 1.5 percent of all homes in Virginia facing foreclosure last year, compared with 1.8 percent nationwide, according to the housing report.

The greatest concentration of foreclosures — 80 percent — was in Northern Virginia, McClain said.

via Richmond-area home sales at 10-year low | Richmond Times-Dispatch.