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Va. housing market broke records in 2021
Last year Virginia’s housing market was one for the record books, according to a new report released Jan. 21 by Virginia Realtors. In 2021, there were 154,340 home sales statewide, a 10.2% increase over 2020, according to the industry association. The median sales price was $350,000, a $30,000 jump, or 9.4% increase, from the previous […]
NoVa’s 2021 home sales surpassed 2020 total
In Northern Virginia, nearly 27,000 homes were sold in 2021, an increase of 17% over 2020’s total and the highest number of sales since 2005, the Northern Virginia Association of Realtors reported this week. “For the year, the NVAR footprint total sales volume was up by more than 23%, reaching almost $19 billion. This is […]
Hampton Roads home sales steady at end of 2021
The number of listings in the Hampton Roads real estate market dropped significantly, sales increased, and inventory dropped to a new low in December 2021, Real Estate Information Network Inc. reported. Last month, there were 2,821 active listings, down 26% year-over-year when compared to active listings in December 2020. But the number of properties that […]
Breeden Co. names new president and CEO
More than 60 years after Ramon W. Breeden Jr. founded his Virginia Beach-based real estate development company, The Breeden Co. has new leadership. Chief Operating Officer Timothy Faulkner has been promoted as the company’s next president and CEO, after more than 20 years with the Virginia Beach-based company, and Breeden, who founded the company in […]
Need for speed
Geoff Poston likens the current market for building, buying and leasing warehouses and distribution centers to the mid-1800s California Gold Rush: Everybody wants in. Poston, vice president of Cushman & Wakefield | Thalhimer’s Hampton Roads industrial group, says demand has never been greater for industrial real estate, creating a tight market with low vacancy. “The […]
Long-term care
Just over a year after becoming CEO of VCU Health System and senior vice president for health sciences at Virginia Commonwealth University, Dr. Arthur Kellermann says the institution’s commitment to providing high-quality medical care while also addressing issues of health equity was a big part of what drew him to take the job. “Most medical […]
2021 REAL ESTATE/LAND USE LAW Q&A
Cartwright R. “Cart” Reilly Williams Mullen, Virginia Beach Title: Partner Other legal specialties: Banking and financial services Education: Bachelor’s degree, University of North Carolina at Chapel Hill; law degree, The Columbus School of Law at The Catholic University of America Spouse: Craig Reilly Children: Three sons: Simmons, 7; Barton, 6; and Ward, 1 First job […]
Henrico expands development incentive program, amends tax credits
Henrico County announced this week it is creating a redevelopment incentive program for parts of the county that are in need of renovation. Henrico Investment Program was unanimously approved by the county board Tuesday, and the program is expected to launch in January. Incentives for development and reinvestment will be available for projects along parts […]
‘Frenzied’ housing market is normalizing
The residential real estate market frenzy in Virginia may be slowing to more normal conditions, the chief economist with Virginia Realtors said in a new report out this week. For the first time in more than a year, sales activity slowed in September, compared with a year ago. Last month, there were 13,079 home sales […]
Developer breaks ground on 20-story apartment building in Arlington
Greystar broke ground Wednesday on The Commodore, a 20-story building with 423 apartments in Arlington. Located at 2025 15th St. N. in the Courthouse neighborhood, the building has an expected completion of fall 2023. The ground level will have almost 18,000 square feet of retail space, and the development will have varying apartment sizes, from […]
Chesterfield hires director of real estate assessments
Chesterfield County has hired Melvin Bloomfield to be its director of real estate assessments. Bloomfield has been Richmond’s deputy director of real estate assessments for the past seven years. He begins his new role Oct. 4. “We are ecstatic to have Mel joining the Chesterfield family. He brings a wealth of expertise and experience that […]
U.Va. adds real estate minor in commerce school
The University of Virginia will start offering a real estate minor for the first time this spring. The 15-credit interdisciplinary minor, housed within the McIntire School of Commerce, will be taught by faculty across multiple areas, including the College of Arts & Sciences, the School of Architecture, the School of Engineering and Applied Science, and […]
