Realtor Drick's Real Estate Blog

Real Estate Agent - NEPTUNE REALTY - 0225-075558
Drick Ward's blog about all things real estate. Call Drick Ward, Broker Associate at Neptune Realty at 757-575-5156 for all of your real estate needs. Serving all 7 cities of Hampton Roads from Virginia Beach.



The banks halting foreclosures for about a week had little, if any, effect on the Hampton Roads market.  In the past week, there was a slight increase in REO inventory as a percentage of overall market inventory with Suffolk gaining a surprising 9.5% (but that's only an increase from 95 to 104 RE...
Though all parts of the country may not get as cold as it does in CO, these winterizing reminders are useful for people in any part of the country.  I'm glad she shared them and want to re-blog to get the word out there...It seems like we've had an extended summer with all the wonderful, warm fal...
Last week, someone asked an interesting question.  How many of the pending sales are NON REO properties.  So I added a data element and have begun tracking that metric also.  This week Norfolk (+4%) and Chesapeake (+2%) were the only cities to have a measurable increase in REO inventory.  REO pro...
If the rental has carpet, the lease should require tenants have it professionally steam cleaned at least yearly and at the end of their lease.  They should also be required to provide the receipt from a professional carpet cleaning when they vacate the property.  You don't want a tenant to rent o...
Transfer fees are common in some parts of the country, unheard of in other areas. Commonly, a percentage of sales price, private transfer fees give the developer a payday each time a residence in the development is sold or re-sold. In some areas community associations charge these fees (nicknamed...
Tenants should be required in the lease to report any damage observed in the property.  For instance, if sheet vinyl flooring becomes wet from the underside, it generally turns gray.  That gray floor is a sign of water damage that could become much worse if left unattended during the course of th...
This is great news for anyone who is planning to buy a Fannie Mae owned foreclosure property.  Your agent can help you identify the properties best suited to your needs and point out incentives like this which may tip the scale for what's best for YOUR SITUATION.  If you're considering a purchase...
Agents often give a price range when telling a seller or landlord what to expect for their property.  Owners have a natural tendency to want to reach toward the upper limit of that range.  With a sale, an overpriced listing MIGHT still get an offer at a lower price, but with a rental, applicants ...
Yet again, Southside Hampton Roads foreclosures edged up slightly but still only represent 10.16% of the overall market inventory.  Portsmouth and Suffolk had the greatest percentage increase from their prior week counts with 7% and 6% respectively.  Virginia Beach and Norfolk dropped 2% and 1% r...
When a buyer closes on their purchase, they agree to pay their mortgage.  There are provisions in place whereby a trustee can step in and the home can be foreclosed on if the buyer doesn't make the payments they agreed to make.  Now, because of some administrative errors some banks are halting fo...

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