Richmond, VA

From the Richmond Times Dispatch

By Carol Hazard
Published: January 28, 2010

The Richmond area saw a 39.1 percent jump in the number of foreclosure filings in 2009 from the previous year, according to a report released this morning by an online researcher of foreclosed properties.

In all, 7,177 properties -- or 1.41 percent of all households -- received a notice last year, RealtyTrac reported.

Nationally, 2.21 percent of all households received foreclosure filings last year, up 21 percent from 2008, the report showed. Filings are notices of default, auction or foreclosure sales.

"The Richmond area has definitely seen a significant increase in foreclosure activity," said RealtyTrac spokesman Daren Blomquist.

"The bottom line is the rate in the Richmond area is below the national average but foreclosure activity is increasing at a faster pace," he said.

The Richmond area was ranked No. 103 of 203 metropolitan areas. Las Vegas had the highest foreclosure rate, with 12 percent of households having received foreclosure filings last year, more than five times the national average.

"Foreclosure activity in the hardest-hit areas is starting to plateau and increases are slowing, but areas like Richmond -- without extremely high foreclosures rates -- are catching up," Blomquist said.

Foreclosures now are being driven not so much by bad loans and bubble housing markets, but by higher unemployment rates, which is a more widespread problem, he said.

The Virginia Beach-Norfolk-Newport News area, at No. 98, recorded similar foreclosure activity as the Richmond area, with 1.44 percent of households in jeopardy of losing their houses last year.

The Washington-Arlington-Alexandria area was ranked No. 48, with 2.64 percent of households receiving notices.

Cities topping the list were in states with the highest level of foreclosures. Nine of the top 20 metro areas were in California, followed by eight areas in Florida, two in Nevada and one in Arizona.

Burlington-South Burlington, Vt., had the lowest rate, with 0.05 percent of households receiving notices last year.

Contact Carol Hazard at (804) 775-8023 or chazard@timesdispatch.com

I got the opportunity to meet Mike Hogan aka @RVARealtor on twitter today at a last minutes notice.  He met me for coffee in Richmond at a cute little coffee shop @captainbuzzys. 

It was like meeting a friend that I hadn't seen in awhile.  We had chatted many times on facebook and twitter just about life.  Nothing business.  It was great to finally meet him.  He is just as nice in person as he is online. 

When I am out talking to realtors about the importance of blogging in the business I sometimes get alot of resistence. 

So I got to ask Mike :

How has blogging been for your business? Great SEO, Google Page Rank, Building Relationships!

Where does he blog?  ACTIVE RAIN!!!

Tips for realtors getting started :

1. Join Active Rain
2. Share your life - don't spam
3. Don't give up! 

Mike's Blog!