Realtor Drick's Real Estate Blog

The foreclosure inventory for the week ended August 7th increased slightly in both REO and non-REO properties.  The REO properties continue to represent a fraction of the overall inventory (about 8%), but there are many good deals available. There are still ample opportunities to get a great deal...

For the week ending July 31, there was a decline in inventory of both market value and distressed properties.  Part of this change might be that it is the last day of a month and listings taken for long periods of time might end on the last day of a month.

Yet again, available inventory edged up slightly while REO listings shrunk continuing the trend that has been consistent in the Hampton Roads market throughout all of 2011.  Although some of the REO properties may be selling faster than other properties, but all-in-all, the REO's still represent ...

The city of Norfolk has pumped money into their parks department and one of those parks is Shoop Park. The park has a fitness trail with exercise stations throughout, a large covered picnic shelter, and traditional park recreational equipment for kids. Priced to move, this two bedroom bungalow ha...

The past two and a half months have been fairly constant with approximately 21% of available inventory consists of distressed sales.  Distressed sales include short sales and foreclosure properties.  These sales are generally below appropriate market value for the neighborhood and sometimes for o...

Foreclosures in Hampton Roads returned to the trend of the first half of 2011, edging downards to a new low of only 8.01% of available market inventory.  If you are considering a foreclosed property in your home search, be sure your broker is familiar with the REO market.

REO Inventory remains in the same general vicinity with an increase of 4 one hundredths of a percent.  This is the first increase in 2011 and brings REO inventory to 8.07% of available inventory on the market in Southside Hampton Roads. If you are considering buying a house in Hampton Roads and h...

713 Mount Holly Muse Virginia Beach, VA Click For Listing Website Click For Interactive e-Tour This is the most popular floor plan in the neighborhood. Two master suites each with a bath and double walk-through closets PLUS a loft overlooking the great room below and suitable as third bedroom, g...

It's been two weeks since my last update, but the numbers haven't changed dramatically over that time.  REO properties continue to represent around 8% of overall available inventory, Short Sale listings remained virtually unchanged, so distressed properties still represent only 21% of available i...

239 Maryland Ave Portsmouth, VA Click For Listing Website Click For Interactive e-Tour This 3 bedroom 2 bath home is ready for tenants in July. Offering old world charm with modern conveniences. Wrap around porch, updated kitchen with stainless steel appliances, large deck overlooking fenced bac...