Morgan Quitno survey recently reports Richmond is the 14th most dangerous city in the US. In a seemingly absurd moment, we are spinning this as a good thing: City ranks as safer in crime survey (we suck but don’t suck as much). To be fair, Chief Monroe seems to be good police (much better than that Andre 3000), and the survey methodology sucks. They need to perform this survey by MSA not city/county. If you include the white flight suburbs of Henrico, Chesterfield, and Hanover as part of an overall Richmond MSA, I bet we become like the 40th most dangerous.
October 31, 2006
Real Estate Article Dump
Business 2.0 has a special real estate issue on the newstands. Lots of useful articles for real estate investors.   (Launch page):
- New rules of real estate: Demand is high in college towns– I am real bullish of the VCU area (including Carver and Jackson Ward) right about now. The expansion east of Belvidere is the key. A growing VCU will be the catalyst that finally turns downtown around.
- New rules of real estate: Buy cheap from ailing companiesÂ
- New rules of real estate: Buy cheap homes to rent–This particular article is of interest. It highlights the investing philosophy of Redbrick Partners. Their formula for rental property evaluation is : (RENT÷2)/PRICE = YIELD. It is a prudent method (ie, dividing rent by 2) as “small landlords often overestimate rental income because they underestimate costs like maintenance, management and vacancies.”
Here are a couple of recent bubble articles for your reading enjoyment:
- Times Dispatch: Va. home sales fall 27%, September figures show largest drop in a year Apparently, this is the largest percentage drop this year. This kind of article is starting to get pretty familiar. Actually, the VAR has been reporting 13 straight months of declines.
- NY Times: Developers Slash Prices to Increase Home Sales When there is blood on the streets, buy property.
October 30, 2006
The Future Fate of the Center of the Universe
Reprinted….
As most of you know, Hanover County is currently revising the Comprehensive Plan. It is so imoprtant to get involved now. The Comp Plan revisions to possibly allow the proposed Yowell Road development were made in 1987.
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THIS IS A MEETING WHERE WE NEED LOTS AND LOTS OF ATTENDEES. Though the county has held 4 recent workshops on the Comp Plan, many citizens have been concerned that these sessions were more like a county infomercial than they were a chance to get citizen input. Our panel discussion will give you the chance to ask your questions and make your voice heard. A packed room will send a very strong message to the Planning Commission and the Board of Supervisors.
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When:Â Â Â Â Â Â Wednesday, November 1st
Where:Â Â Â Â Â Ashland Public Library, on the tracks, 7:00 p.m.
Theme:    How will Hanover’s Comprehensive Plan Update Affect Ashland?
Format:Â Â Â Panel Discussion to include:
David Maloney, Deputy Planning Director, Hanover County
Howard Padgett, Chair, Hanover County Planning Commission
Neil Holthouser, Director, Planning & Community Development for Ashland
Steve Trivett, Chair, Ashland Planning Commission
Bucky Stanley, Supervisor, Hanover County, Beaverdam District
Tim Ernst, Supervisor, Hanover County, Ashland District
Faye Prichard, Mayor, Town of Ashland
Joann Hunter, Member, Ashland Planning Commission
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Moderator:Â Â Bill Roberts of WHAN
Sponsor:Â Ashland/Hanover Citizens For Responsible Growth
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Citizen input will be a highly valued part of the evening.Â
Questions / comments? Carolyn Richman Peart 798-9131
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Thanks so much,
Carolyn Peart, President
Ashland-Hanover Citizens for Responsible Growth
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October 29, 2006
Large Mouth Development
Anyone who has seen the impact of the Bass Pro Shop on the Mercury Blvd area in Newport News can anticipate similar patterns in Atlee-Ashland (186.5-acre development southwest quadrant of Interstate 95 and Lewistown Road). It’d sure be nice to own property on Lewistown Rd right about now.
On more important matters, I am concerned of the fate of Greentop Sports (a local institution). Let’s hope this new snakehead chain doesn’t destroy our homegrown species!
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October 22, 2006
Holy Investment! … The mother of all mortgage fraud!
This AOL/ABC Nightline article (Real Estate Dreams Dashed, Debts Mount) is very sad. It highlights a recent real estate scam in Martinsville, VA, one of the largest in history. It is an example of what I believe is an alarming trend, mixing religion with making money. I guess we can blame the Republican party for this marriage (just kidding, sort of). Seriously, since when did Jesus ever preach about investment opportunities? I realize this is an exceptional example, but please beware of scams dressed in lamb clothing, especially the lamb of God.
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