Home builder trying to avoid losing it all (Virginian-Pilot) “Builders were going out there in good faith, buying lots to meet demand,” home builder Dave McLaughlin said. “Obviously the banks wouldn’t have given the money if they didn’t think the houses would sell. But then everybody got caught with their pants down.” A piece of… Read more »
Search Results for: foreclosures
That’s worth a champagne toast
A local restaurant bought its independence yesterday and avoided becoming a victim of Justin French’s legal and financial problems. After shedding a few tears of joy, the owners poured champagne for themselves.
‘We have everything to lose’
Justin French’s foreclosure drama leaves new restaurant in the lurch.
“We don’t want the land; We don’t want the houses.”
Two local banks are getting more pro-active to unload the property they have taken in foreclosure – property they don’t really want to own. And they’re willing to offer favorable financing to buyers.
NewsFeeds 7.21.10
Workers’ compensation premiums could be cut (Times-Dispatch) A top headache for many business owners — insurance that pays for lost wages and medical bills when an employee is hurt on the job — could get cheaper next year. Carilion takes big financial hit (Roanoke Times) Despite a $60 million operating loss and a nearly $100… Read more »
BizSense Pro: Be in the know
BizSense Pro puts the information you need to stay competitive at your fingertips. In addition to breaking news about and analysis of the Richmond business scene, you’ll have access to a cache of exclusive data, including: The Deedbook What properties have changed hands in the area. The DeedBook is a biweekly compilation of commercial transactions…. Read more »
NewsFeeds 6.30.10
Foreclosures make up one-fourth of Richmond-area home sales (Times-Dispatch) Foreclosures account for nearly a quarter of all home sales in the Richmond area, while they make up an even greater proportion in Virginia and nationwide. Company’s focus on tiny products yields big idea (Roanoke Times) A fire- and blast-resistant resin developed in Blacksburg may bring… Read more »
NewsFeeds 6.14.10
Short sales way up due to realty woes (Virginia Gazette) While the real estate slump never hit greater Williamsburg as hard as it did elsewhere, it has nonetheless led to an unusual number of foreclosures and a related phenomenon. Reeling in sales: secretive Salem warehouse boosts Netflix’s Roanoke Valley business (Roanoke Times) Netflix’s mail volume… Read more »
NewsFeeds 5.17.10
Whose Hole Is It? (Style Weekly) There is a legal skirmish between two defendants — the city of Richmond and Washington-based developer Douglas Jemal — over who owns a hole in the 200 block of East Grace Street. In his lawsuit, Edinburgh Williams, 28, charges that he was walking down the street late one winter… Read more »
Monday Q&A: ‘We get distressed projects completed’
Two veteran homebuilders/business partners are wearing new hats these days, running a multimillion-dollar fund that works with banks on stalled real estate projects. The key is their finance guy, who figured out how to provide capital to finish the projects.