April 30 Newsletter: Cash is king in home sales
Weather: The rest of this week in Richmond will feel more like early June. Afternoons through Friday will average in the 80s and the nights will stay above 60. Read the full forecast from Sean Sublette here.
On this date in 1948, Piedmont Airlines announces new daily flights from Richmond to Norfolk, Lynchburg, Roanoke and Cincinnati.
All-cash home sales rise as sellers retain the upper hand in Richmond market
The number of homes bought in an all-cash transaction is continuing to rise in Richmond.
- In the Near West End, 47% of homes were purchased with cash in 2024.
- One Realtor said many of those homebuyers ultimately obtained mortgages, but used their cash to jump to the front of the line.
With prices expected to rise, and cash-flush buyers arriving from New York and D.C., don't expect the trend to change anytime soon. Read more here.
Counties express frustration after Richmond fails to communicate water error
An error at the city's water plant resulted in excess fluoride entering the system, though levels remained below maximum allowable levels set by the EPA.
But that didn't keep Henrico and Hanover from voicing their frustration that they didn't find out until four days after the incident.
“I’m disappointed with our failure to communicate," Mayor Danny Avula said. "This incident damages the work we’re doing to rebuild trust — not only with the residents of Richmond, but our communities, and our regional partners, including Henrico, Chesterfield, and Hanover. We must do better.” Read more here.
More headlines from The Richmonder:
- City revenue director resigns after more problems with tax rebate checks
- Judge urges attorneys in FOIA whistleblower case to resolve disputes; The city has spent more than $134,000 on attorneys so far.
- Council rejects proposal for locked addiction rehab facility in North Side
- City Council backs raises for all city employees, makes minimal budget changes
In other news
- The Capital Collective is accepting funding applications for businesses that bring in up to $2 million annually (Capital Collective)
- Youngkin defends bid to oust LG candidate John Reid over claims of racy photos (Washington Post)
- Teen weed vaping spikes in Virginia schools (Axios)
The editor's desk
Another first for The Richmonder: We had our name on a marquee. Thanks to everybody who came out to Monday night's movie screening. We heard loud and clear you want us to plan more community outings. We're on it.
Michael Phillips, founding editor
mphillips@richmonder.org
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