A look at the 2010 Northside real estate assessments

Update

“Channel 6 is running a bit of an explanation”:http://www.wtvr.com/news/wtvr-richmond-real-estate-assessments,0,275337.story on why part of Highland Park saw such a drop:

bq. Hester says investors came in, renovated those properties, and bailed when the market tanked.

Original story

By now you should have received your 2010 assessments. I took a minute and pulled the numbers for some different Northside neighborhoods — I’ve made the data available as “a public google spreadsheet”:http://spreadsheets.google.com/ccc?key=0Anu9s2MuEJ2vdGx3ZW16bHU5WWh1QThXQVY4SVJyUEE&hl=en. You can, of course, pull any of the data yourself using “the City’s much improved parcel finder”:http://map.richmondgov.com/parcel/.

In general assessments across the five Northside neighborhoods I pulled ( Southern Barton Heights, Bellevue, Brookland Park, Ginter Park, and Rosedale) showed almost no change. Overall the averages changes in value between 2009 and 2010:

* **Land value:** +0.73%
* **Improvement value:** -2.50%
* **Total value:** -1.76%

Interestingly, the data is skewed quite a bit by Southern Barton Heights. Without the five random properties I pulled from Southern Barton Heights the numbers are:

* **Land value:** +0.46%
* **Improvement value:** +0.21%
* **Total value:** +0.22%

Property heights in Southern Barton Heights (the five I randomly sampled) have dropped **9.67%** since last year.