Melissa Savenko's Richmond Real Estate Review

A New Leaf for 2012 - Regular, But Shorter, Posts

I wasn't the most consistent of posters in 2011.  In fact, my last post was in November and it was restaurant recommendations for the Lincoln cast and crew.  My new leaf for this year:  I'm going to do better.  Yeah, yeah, I've said it before.  But this year, I am going to take a page from the play book of some successful bloggers I follow.  Better to post shorter posts, more frequently.  So that's what I want to try to do.

My biggest problem - no shocker to anyone who knows me well - is there are so many things I want to "talk" about,  if I "said" or wrote about everything I wanted to, I wouldn't be doing my "real" job, selling real estate.  I have a hard time editing myself.  So my posts are really long, and when they can't be really long, and to my mind, "thoughtful," well, I fall into the trap of not writing at all.  So I'm going to try the shorter, pithier approach, we'll see how that goes.  Right now, there is a TON going on in the Richmond real estate market.  Here are a few topics I plan to cover in the days and weeks to come:

• My Predictions for 2012
• Review of 2011, Now That There is Some Time/Distance/Perspective
• 2015 World Cycling Championships and What It Means to Richmond
• Green Is Still the "New" Black, But Are Tear-Downs the "NEW, New" Black?
• The Condos Are Coming, The Condos Are Coming!
• My Love/Hate Relationship With VCU as a Real Estate Developer
• Why I Love the Fan, and You Should Too!

And more.  As always, if you have ideas, suggestions, comments, criticisms, bring it on.  I'm happy to address topics you send me.  And I promise, I promise, I PROMISE, I am going to do a better job of writing on a regular basis.  I'm sure y'all are all so happy.  [;)]

 

Richmond's Best - A Suggestion List for the Lincoln Cast and Crew

Dear Stephen Spielberg, Sally Field, James Spader, Tommy Lee Jones, and other members of the cast and crew of "Lincoln":

Welcome to Richmond.  You've been here a bit now, and I really hope y'all are enjoying yourselves.  Hopefully, you have been welcomed graciously, and have been able to move about your business with a minimum of gawking.  I see that many of you have discovered some of the best restaurants, coffee shops, and hang-outs that Richmond has to offer.  I thought I'd share with you some of my suggestions for some places that are off-the-beaten path, often old Richmond traditions, that you otherwise might miss.  Some are old, some are new, and all of them are near and dear to my heart.  So if you've had dinner at Morton's too many times to count, maybe you could give one of these a whirl.

In no particular order, here we go:

1.  Sally Bell's Kitchen.  I just had to put this as No. 1.  I love it so much.  I'm almost afraid to let you in on the secret, what if there is a run on Sally Lunn bread or cream cheese and olive sandwiches?  Just trust me, if you were not let in on this secret, you would never, ever, ever stumble across this treasure.  Tucked away in a non-descript building on Grace Street, surrounded by VCU, Sally Bell's does carryout boxed lunches, the exact same way they have done them since I was a kid, and since my Mom can remember.  Pick your sandwich, pick potato salad or macaroni salad (if you ask nicely, you can get tomato aspic instead, my Mom's favorite), pick your favorite flavor of upside down cupcake (9 choices!).  Each lunch also comes with a deviled egg and a cheddar wafer with a pecan on top.  This bounty of deliciousness is packed in a cardboard box with the black-and-white Sally Bell logo and tied with string.  Everything is made from scratch on-site by some lovely ladies, many of whom have been there since I was a kid.  The food is smack-your-mama good.  Let's put it this way:  Richmonders are a generally genteel, polite bunch, but Sally Bell's imposes a 5 pounds of potato salad/2 dozen rolls/2 pie limit for Thanksgiving Week.  Otherwise, there would be a run on the place and there might be riots.  Call ahead and place your order, then get your Production Assistant to run on down there to pick it up.  Trust me, you will not be sorry.  Sally Bell's Kitchen, 708 W. Grace Street, Richmond, Virginia 23220. (804) 644-2838.

2.  The Dairy Bar.  Another Richmond treasure tucked away in an unexpected location. The Dairy Bar is located in Scotts Addition and was attached to the former Curles Neck Dairy bottling facility.  Well, the Curles Neck dairy is long gone but the Dairy Bar remains.  The "DB" is beloved by locals for the affordable menu of traditional choices, the wonderful homemade soups and stews, and the best milkshake, bar none, in Richmond.  It always feels like stepping back in time to me, with the green vinyl diner booths and the walls covered with crayoned cow pictures.  Kid-friendly and affordable, with the friendliest service you can imagine.  Now I'm craving a milkshake....The Dairy Bar, 1602 Roseneath Road, Richmond, Virginia  23230.  (804) 355-1937.

3.  Lamplight Roasting Company. Based on the Lincoln sightings reports, everyone seems to have found a favorite coffee shop.  But if you or the crew wants to hang out with local writers, artists and actors, as well as the super-cool hipster tattooed folks, and the people that ride those crazy tall bicycles, this is where I would send you.  It's a bit off the beaten path, on the backside of the Fan District at the corner of Addison and Parkwood.  The food is homemade and excellent, and there are lots of options for vegetarians and vegans.  It's always fun to people watch, and the coffee is really, really good.  I mean, I just like mine hot and dark, but a friend who roasts his own beans and is a bit of a coffee fanatic - yes, I am talking about you, Charles - begrudgingly gives Lamplighter high marks, although it's "not as good as [his] coffee."  But Lamplighter was voted Richmond's Best Coffee.  Plus they have bicycle delivery of coffee beans - how cool is that!  So if you want great coffee and to hang at a local restaurant where the cool factor is such that the other patrons won't be impressed by you and will therefore leave you alone, Lamplighter's my recommendation.  Lamplighter Roasting Company, 116 S. Addison Street, Richmond, Virginia  23220.

4.  Sidewalk Cafe.  One of the many establishments owned and managed by the powerhouse restaurant couple, Katrina and Johnny Giavos, this oldie-but-goodie on the bar scene has the best. brunch. EVER.  The rest of the menu is awesome too, but I have a particular love affair with the Cajun hash.  Before I became a responsible adult, there were some Saturdays I entered Sidewalk at 11 a.m.-ish, not to emerge until hours upon hours later.  Pitchers of mimosas will do that to you.  And when I say pitchers of mimosas, I mean the good kind, where there is just enough OJ to make them orangish.  When I waited tables, back in the day, this was the first bar the restaurant folks would hit when we got off work late night.  When I was at University of Richmond Law School, this was "our" bar, and there was many a night that I danced on those tables.  You'll note, the disco ball is still up and I'm sure they still flip that sucker on at 1:30ish.  [I'm using "ish" quite a bit here, huh?  Memories of the glory days and late nights can do that to you, I guess].  Known for good food, HUGE portions, and stiff drinks, this is a great casual options for brunch, lunch or dinner.  Make sure you ask for Edwina as your server, she will have you in stitches with her many crazy stories the whole daggone time.  Sidewalk Cafe, 2101 Main Street, Richmond, Virginia  23220.  (804) 358-0645.

5.  Stella's.  And speaking of the Giavos clan, Mama Stella is back, and has re-opened her namesake restaurant.  Praise the Lord!  This will be the third iteration of Stella's, which was originally in the space occupied by Edo Squid, then in the space currently occupied by Rowland's, and now springs forth like the phoenix, to life again, in a completely new space on Lafayette in the Malvern area.  As an aside, it looks like Stella leaves some of her magic fairy dust behind in each former location, because each of those restaurants is absolutely wonderful and would be on my Top Ten Best Restaurants in Richmond list.  I almost cried when I found out Stella's was reopening.  It has been, in each of it's iterations, my favorite restaurant EVER in Richmond.  And that's saying a lot, because there are a lot of really, really wonderful restaurants in Richmond.  At the new place they even have my favorite entree on the menu - filet mignon with lump crabmeat and a sherry cream sauce.  Seriously one of the best things I've ever tasted.  But running a very close second are Stella's Greek green beans.  Oh. My. God.  And then for dessert, please, please, please, PLEASE let there be baklava.  You see, sometimes they run out.  Wonderful food and a professional service staff make this a great dining experience.  And if you want a second opinion, check out Style Weekly's recent restaurant review.   Stella's, 1012 Lafayette Street, Richmond, Virginia  23221.  (804) 358-2011.

I wish I had time today to write more.  There are so many other fabulous places here in the City, could go on and on.  I feel terrible leaving out places like Acacia and Magpie and Mezzanine and Rowland's and Zeus Gallery Cafe....there is such a bounty of great restaurants!  So feel free to ring me up for any recommendations you might need.  But duty calls, so I'm off to the salt mines now.  Have a great day filming on Monument Avenue! 

 

RVA Creates and Venture Richmond and Now the "Shockoe Design District" - Really? I Mean REALLY?

I am so sick of these folks just getting it wrong, over and over again.  Apparently, someone told them that the "Creative Class" was the key to urban revitalization.  Per Richard Florida, the leading academic researcher and publisher on the topic, that's exactly right.

But Florida doesn't characterize the "creative class" as only designers, artists, restaurant owners, architects, etc.  In fact these categories of folks are the significant minority of Creative Class members.  However, it appears that Venture Richmond, RVA Creates, and the founders of the Shockoe Design District didn't bother to read "The Rise of the Creative Class," "The Flight of the Creative Class," any of the numerous academic studies and papers Florida has published on the subject, the City of Richmond's own commissioned studies, including "The Young and the Restless," the Crupi Reports I and II....I could go on and on.  In fact, it doesn't appear the folks responsible for these (costly and time-consuming) Richmond initiatives have read ANY of the extensive published materials about what the Creative Class is, what it wants, and how to attract and retain it.

Because if they had, they would have found this definition on Wikipedia:

*****

Florida describes the Creative Class as comprising 40 million workers—30 percent of the U.S. workforce—and breaks the class into two broad sections, derived from Standard Occupational Classification System codes:

• Super-Creative Core: This group comprises about 12 percent of all U.S. jobs. It includes a wide range of occupations (e.g. science, engineering, education, computer programming, research), with arts, design, and media workers forming a small subset. Florida considers those belonging to this group to “fully engage in the creative process” (2002, p. 69). The Super-Creative Core is considered innovative, creating commercial products and consumer goods. The primary job function of its members is to be creative and innovative. “Along with problem solving, their work may entail problem finding” (Florida, 2002, p. 69).
• Creative Professionals: These professionals are the classic knowledge-based workers and include those working in healthcare, business and finance, the legal sector, and education. They “draw on complex bodies of knowledge to solve specific problems” using higher degrees of education to do so (Florida, 2002).

In addition to these two main groups of creative people, the usually much smaller group of Bohemians is also included in the Creative Class.

******

This took me five (5) seconds to find, with a Google search for "Creative Class" and Richard Florida.

Now, people may not believe it, but I appreciate what the Powers That Be are trying to do.  But it bugs the ever-living-you-know-what out of me when it is done poorly and wastes resources that could be better spent on other initiatives that would benefit the entire City, rather than one limited area.  I'll explain later the specifics of why I'm completely annoyed with Venture Richmond, RVA Creates, and now the Shockoe Design District.  Here's the very short version:  Labels and perceptions matter.  You are intentionally or unintentionally excluding a huge number of the Creative Class you want to keep, by focusing only on the "design professionals," restaurant owners, and Bottom-dwelling urbanites.  I sure as heck don't see any resources being flung around to attract and retain the bankers who live in the Munford School District, or the realtors who live in Westover Hills, or the young lawyers who live in Bellevue.

You've got the Creative Class wrong.  And I'm also sick of constantly hearing about Shockoe Bottom.  I've got an idea.  I'll make and sell a T-shirt that says "Richmond.  It's All About the Bottom."  With a big ole' graphic of a hiney on it.  Maybe then I can get my creative punch card stamped.

Meantime, this non-creative, non-young, non-hipster urban dweller and lifelong Richmond resident needs to go make a living.

Squirrels Stadium Controversy - Is It About Baseball or Strategic Development?

Lordy be.  Here we go again.  There are articles, and editorials, and letters to the editor, about whether or not "Richmond," which really means the Richmond Metropolitan Authority ("RMA"), made up of Richmond, Henrico, and Chesterfield, should contribute the money to build a new stadium for the Squirrels AA team.  If they won't commit to building a stadium, there are rumblings that the Squirrels will go away.

Major public reaction seems to be: "Tough noogies. Who cares what the community promised to lure the Squirrels here. Times are tough. That money should be spent on ______ [insert your favorite cause here: education/roads/downtown development]." I should also note that it appears from a very unscientific review and poll that the vast majority of the letter writers and commenters are from the counties. Shocker.

Here's the Letter to the Editor du jour:

I may not be the target audience for the Richmond Squirrels.  I'm just a casual baseball fan who will go out to see the local team a couple of times a year.

This year, I went near the end of the season, when the club was trying to make it into the playoffs. The stands were not full.  I also went to the first home playoff game, and again the stands weren't full.  I fail to see how a new ballpark will increase attendance after the novelty wears off.

I had an enjoyable time at the game, and it didn't matter that the Diamond isn't state-of-the-art.  But I will object strongly to subsidizing a new building just for the sake of keeping this or any other team.

I think people are missing the point.  It's not about the Squirrels per se.  It's about committing to strategic development in a specific part of the City that has the greatest possible likelihood to leverage additional private investment in the City.  A successful City of Richmond is the rising tide that will raise all boats.  Even though Henrico and Chesterfield will never believe that.

And by the way, my recollection is the Shockoe Bottom Stadium proposal was about exactly that, driving private investment in the area and how the cumulative effects of a new baseball stadium would benefit the City. So people who wanted a Shockoe Bottom Stadium can't talk out of both sides of their mouths, and claim in their priposal a new stadium would be an economic driver, but a few years later and in a different location, a new stadium would be an economic suck.

I'm sure this debate is going to continue.  I think next I am going to lay out the reasons a stadium on the Boulevard is the right strategic investment.  And if you want more background on why I felt then the Boulevard was the right place, or more accurately that the Bottom was the wrong place, there are a bunch of old posts on the topic.  Go wild.

 

How Generous Is Richmond? VERY Generous!

The Amazing Raise is off and running, and in only 9+ hours, Richmonders have donated over $223,000!  The entire objective of the Amazing Raise is to raise as much money as possible by encouraging online donations of $50 or more during a specified 36 hour period, which began this morning at 6 A.M.  The Community Foundation is offering at least $100,000 in matching grants, possibly more.  There are also various contests that allow the nonprofits participating to win additional grant money, for things like most donations during a time period, etc.

Everyone has their own charity of choice.  Sometimes folks have multiple.  I am on the Board of the Byrd Theatre Foundation, so that's the organization I'm giving to.  After all, we were just named one of the "Top Ten Places to Watch a Movie in Splendor" in USA Today only five days ago!  [As an aside, I'm personally hoping Stephen Spielberg and Daniel Day-Lewis saw that article and plan to slip into the Byrd incognito sometime real soon].

 I hope you will consider giving to the Byrd Theatre Foundation during the Amazing Raise.  Here is the link directly to the online donation page for the Byrd Theatre Foundation.  Even if the Byrd is not your charity of choice, I hope you will each consider giving a donation of at least $50 to some worthy local nonprofit organization.  Each and every one of these groups does great things, often on a shoestring budget.  So, I know times are tough.  But consider that $50 donation.  You'll feel good about yourself for the rest of the day!

Richmond, pat yourself on the back.  You are very generous.  That's yet another thing for us to be proud of!

Ready, Set, GIVE! The Amazing Raise Is Off!

Starting at 6 a.m. TODAY, in just fifteen minutes, 36 hours of the Amazing Raise - Richmond's online fund raising challenge - begin.  Here is all the information about the Amazing Raise.  Please consider donating $50 - or $100, or $500 - to the Byrd Theatre Foundation.  Heck, donate a dollar, donate $5, donate $10!  Only online donations of $50 or more are credited towards our standings in the competition for up to $10,000 in grant money from the Community Foundation.  But we would be ever-so-grateful for ANY financial support. 

So Richmond, are you generous?  I think you are.  Do you LOVE the Byrd?  I think you do.  Ready, set, GIVE!

Byrd Theatre Foundation - How You Can Help

1.  Donate money starting TOMORROW, Wednesday, October 5, 2011 at 6 a.m.  The Amazing Raise, a fund raising event that lets local nonprofits "compete" to win volume and dollar amount contests, will result in at least $100,000 in matching grants being awarded to those local nonprofits by the Community Foundation.  Every $50 donation you make online is counted towards the Byrd Theatre Foundation's total.  Help us get those matching grants! Click here to learn more about the Amazing Raise and how you can participate. 

2.  "Like" us on Facebook and follow us on Twitter.  Our Facebook page is The Byrd Theatre & Foundation.  Twitter, @thebyrdrva, is here.

3.  Attend the Cameron Carpenter gala this FRIDAY, October 7, 8:00 p.m. at the theatre.  Cameron Carpenter is an award-winning musician who is smashing the conventional wisdom of what organ music is.  Tickets are still available, and this may be a once-in-a-lifetime opportunity to see a musical virtuoso play our very own Wurlitzer organ.  It promises to be an AMAZING event.  Click here to learn more about Cameron Carpenter.  Click here to go directly to the ticket link.

4.  Put the RVA Zombie Festival on your calendar, October 29, coinciding with the day of the Carytown Zombie Walk, and "like" it on Facebook.  Great zombie movies, like Dawn of the Dead, Shaun of the Dead, and 28 Days Later, and all the proceeds benefit the Byrd Theatre Foundation!

5.  Get involved with the Byrd Theatre Foundation.  Offer to volunteer.  Participate on a special committee.  Just come to the movies, and talk about this Richmond treasure to all of your friends.  After all, we were just named one of the Top 10 Places in the USA to See a Movie in Splendor only four days ago!

Thanks to everyone for their support!

Almost 20% of Richmond Mortgages Underwater - OUCH! What Are Some Options?

So according to CoreLogic, a real estate analysis company, 19.5% of the mortgages in the Greater Richmond area, a total of 44,307 properties, are under water.  That means the owners owe the bank more than the property is currently worth.  Another 6.5% of home owners, or an additional 14,131 properties, have less than 5% equity in their homes.

What does this mean?  Nothing good, especially with real estate values flat-lined.  If you are one of those home owners with negative equity in the home, what are your options?

1.  Short Sale:  Sell the property for less than it is worth, with the permission of the bank.  That's the kicker - you have to be eligible for a short sale, meaning you have suffered some "hardship," AND the bank has to be willing to accept mortgage amount minus $X.  AND you still have to sell your house on the open market.

2.  Mortgage Modification:  Even harder than the short sale.  Means you have to get the bank to change the terms of your loan - amortizing it over a longer period, decreasing your interest rate, or forgiving principal - so you can remain in the house with a reduced payment. 

If you think a short sale is hard, you haven't tried a mortgage modification.  I had one client that tried unsuccessfully for 15 months.  A lawyer friend of mine did get a modification, but it took 10 months and effort every single day.  You never talk to the same people.  The banks lose paperwork.  The Loss Mitigation and Collections Departments don't talk to each other, so one group is telling you you are eligible for modification, the application just needs to be reviewed by the right person, and the other group is sending foreclosure notices.  Welcome to "Alice-in-Wonderland-through-the-looking-glass" land.

3.  Stay Put:  Probably the best option.  But sometimes people have to move, even if it is a terrible market.  Think job relocation, divorce, illness, death in the family. 

4.  Rent:  See if you can find a tenant that will cover all or at least most of the mortgage.  Move into something more modest, likely a rental, since most people can't buy without selling.  And pray the market improves.

None of these is a good option.  But welcome to the new normal.  The only thing that is going to fix the real estate market is time.  And the federal government not doing more stuff to screw it up - but that is a totally different discussion.

More Issues with the City Jail - A Possible $30M Mistake

Turns out the City of Richmond Jail proposal requires review by the Virginia Department of Corrections before it will have all the required regulatory approvals.  Oops.  Somehow, it seems the City Administration missed that little requirement.  The situation is described here in the Richmond Times-Dispatch article from this morning's front page.

Now, I really don't care about the tit-for-tat on who said what and who shot John.  There is a recorded trasncript, just release the audio and transcribed recording, and that will be that.  I suspect the truth will be somewhere in the middle between each side's claims.

So, I'm not suggesting that there was any intentional malfeasance here, in the jail design/build contract award.  And I don't think anyone would suggest that the City of Richmond is not in desperate need of a new jail facility to replace the current overcrowded - and frankly inhumane - facility.  BUT, it does appear that the City could qualify for a 25% contribution towards the construction budget from the Commonwealth of Virginia, if certain criteria are met.  A 25% contribution amounts to almost $30M on the current jail development contract.  Possibly leaving $30M on the table is a pretty d*mn big "oops!" in my opinion, and doesn't make the Administration look particularly competent.

Here's hoping the City will be eligible for that state contribution money.  We could do a lot with $30M. 

Of Blogging Inconsistency, The Byrd Theatre Foundation, and Summer Breaks

I cannot believe it has been over two months since I wrote a blog post.  Clearly, my adoring fans have not been berating me for this lapse.  [:)]  But I do feel like there are TONS of real-estate-related developments in both national and local arenas that I'd love to comment on, such as:

• The mad rush to build ever-more apartments Downtown, in Shockoe Slip, Shockoe Bottom, Manchester, Carver, and the Fan.  Is this the next real estate bubble?  Some of my colleagues seem to think so.  I agree.
• The wisdom of building apartments north of Interstates 64/95, on the eastern corner of Chamberlayne.
• MORE apartments announced yesterday in Manchester - two different projects!
• The City Jail project - the debate rages on.
• The LACK of a City Stadium project.  I've written on the City Stadium topic before, but the City announced yesterday that it is effectively "too busy" to get its act together and submit a Request for Proposals requesting an analysis of the highest and best use of that parcel;
• The fate of the Diamond.
• What will happen to the old bus barn property?  I've asked this question before also, but there still is no guidance from the City on their development intentions.
• Is condominium development in Richmond dead?
• The impact of the Federal Reserve's announcement of its intent to hold interest rates low until 2013.
• How is the Richmond real estate market different from the national real estate market?
• Justin French, One Year Later - The Fallout.

And much, much more.  BUT, I've been caught up in trying to claw out a living in a less-than-ideal market - my new slogan is "Melissa Savenko, Realtor: Making a Living One $1,000 Commission at a Time!" - and digging out from an oh-too-brief vacation.

Another major time commitment, but a true labor of love, has been my work for the past year on the Board of the Byrd Theatre Foundation (the "BTF" or the "Foundation").  I want to write more and details in a separate post SOON, but the short version about the Foundation is this: 

The Foundation is a nonprofit organization, the mission of which is to restore and preserve the Byrd Theatre building.  The BTF owns the actual building, subject to a sizable mortgage.  What most people do not understand is the movie operations are a separate, for-profit company which provide only a de minimus lease payment to the Foundation. The Foundation's sole other source of income is donations from individuals, corporations, and foundations. 

Short version: The Byrd Theatre Foundation needs to raise $1.5M to complete the purchase of the building, develop design drawings for a full restoration, and fund a capacity building position.  Successful completion of this phase will ensure that the building remains forever a unique historic asset for the benefit of the Richmond community. 

Fun facts: 

• If every individual that purchased a movie ticket in 2010 donated $1, the operating expenses for the entire year would be covered;
• If every individual that purchased a movie ticket in 2010 donated $10, the note on the building could be retired in TWO (2) years; and
• If every individual that purchased a movie ticket in 2010 donated $100, the building would be owned free and clear by the Foundation, the complete restoration would be funded, AND the Foundation could establish a sizable endowment.

So, Richmond, I think you love the Byrd.  Am I right?  Donate just a dollar, $10, $100 to preserve and restore the Byrd Theatre, Richmond's premiere movie palace!  Donate online at Paypal (no Paypal account needed, just a credit card!) or contact us at fundraising@byrdtheatre.com to learn how you can contribute.

Feed the Byrd, Richmond!

Richmond Is #8! - For Real Estate Investing, That Is

Well, many of you may have already seen this report, from Inman News, which names little ole Richmond, Virginia as one of the Top 10 Markets in the country for real estate investing.  The folks at Inman are predicting a 47.8% increase in values over the next ten (10) years, with a 164.3% return on investment ("ROI").  Yup, you read that right.  164.3% ROI.  Show me a stock or other investment vehicle that's going to top that.

So, I'm feeling a bit vindicated in my long-standing recommendation in this down market, which is that folks with surplus cash should be buying investment real estate N-O-W NOW.  Don't know the first thing about real estate investing?  Give me a call.  I'd be happy to help.  I work with a lot of very successful investors, and there are plenty of deals out there.  And many more to come, as the rest of the distress sale inventory that's filling up the pipeline gets worked out.

Stop reading now if you want to avoid the shameless personal plug:  Here are my qualifications as a real estate agent working with investors.  I am a corporate lawyer with 7+ years of practice under my belt, most of it at a Top 20 Law Firm.  About 50% of my current business is with investors.  I really enjoy working with investors, and have developed broad experience in rehabbing historic homes, the Richmond tax abatement program, and various state and federal tax incentives.  I am a Richmond native, lived almost my whole life here, so I know the City like the back of my hand.  I can be reached at (804) 986-3993 or melissasavenko@gmail.com.  Don't miss the chance to get on this train.  In a year, this perfect storm of low interest rates, huge inventory, and falling prices may well be gone.