Capitol, VA Real Estate News

By Lane Midgett
(1776 Real Estate Group Richmond, VA Local Expert )
French tax credit records raise red flags August 12, 2010 by Al Harris  Last week, IRS and FBI agents raided the Shockoe Slip office of developer Justin French, removing computers and boxes of paperwork. Both agencies were tight-lipped about the reason for the raid, but Richmond BizSense has learned that over three years, French received an unusually large amount of tax credits for renovating historic buildings compared with what local developers typically reap on similar projects. From 2007 through 2009, French projects received $18.8 million in state tax credits, according to a review of documents from the state Department of Historic Resources obtained by BizSense. Developers are allowed to sell the state tax credits, and they often do so to large companies looking to reduce their st...
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By Lane Midgett
(1776 Real Estate Group Richmond, VA Local Expert )
  New Chapters Forming Downtown Richmond - Givers Gain BNI, Day: Time: Meeting Location: TBD, Contact: Dawne Brooks Gulla Contact's Phone: 804-690-9220 Email: Assistant Director Contact: Dawne Brooks-Gulla Phone: 804 690-9220 Email: Send Email   This new group will be meeting in the Downtown Richmond area. Contact us today to see if your profession/business category is available in this group. In BNI, only one person is allowed to be a member per professional classification or specialty per Chapter. Once you are accepted as a member into a local Chapter, your competition is not allowed to belong. Lock out your competition today!   BNI is a business and professional referral organization that allows only one person from each profession to join a chapter. Belonging to BNI ...
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By Rick Sale
(Rick Sale Realty)
Homes For Sale in Richmond Virginia Just yesterday I received one of those calls, you real estate professionals know the ones, from a past client ( let's call him Jim) that had gone off on his own to make a purchase with out the help of his trained and experienced Realtor. Needless to say he was now in a quandary and did not know which way to turn. Six months ago he had purchased a property from a FSBO, mistake #1, we all know what FSBO's are, but for those of you who do not, it is simply someone trying to save a commission. Both seller and buyer agreed on the terms and price and made a deal. Now Jim needed some financing to make the purchase so he contacted a local small bank for a mortgage. I'm not sure where he went wrong but he secured an interest only balloon mortgage. Jim understo...
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