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ODU's CREED to Host First Residential Real Estate Market Review

For 16 years, Old Dominion University's E.V. Williams Center for Real Estate and Economic Development (CREED) has hosted a Hampton Roads Real Estate Market Review and Forecast.

The event has become a must-attend for leaders in the local real estate community, and has provided newsworthy information and predictions about the dynamic real estate market in Hampton Roads, compiled by ODU researchers.

The market review has traditionally focused on commercial real estate. Now, that expertise is about to be extended to the residential real estate market.

On Wednesday, Nov. 2, at the Ted Constant Convocation Center, CREED will host its first-ever Hampton Roads Residential Real Estate Market Review.

John Lombard, CREED director and chair of the urban studies and public administration department in ODU's College of Business and Public Administration, believes the event will provide a valuable service to the community.

"We are all feeling the effects of the economic decline. Forces impacting housing trends have affected everyone. This event will bring together notable experts to discuss how these economic trends have encroached on the Hampton Roads residential market and the process for recovery," Lombard said.

The list of presenters includes:

  • Michael Seiler, Robert M. Stanton Chair of Real Estate and Economic Development in the CBPA, speaking on the study "Understanding Strategic Default: The Maven's Impact on Recovery Residential Real Estate," on which he collaborated with Andy Collins, a research assistant professor at ODU's Virginia Modeling, Analysis and Simulation Center;
  • Frank J. Santoro, U.S. bankruptcy judge, Eastern District of Virginia, "Strategic Default and Bankruptcy";
  • Vinod Agarwal, professor of economics and director of the ODU Economic Forecasting Project, "An Analysis of Existing Residential Home Prices"; and
  • J. Van Rose Jr., president, Rose and Womble Enterprises, "Where We've Been; Where We Are; Where We're Going."

The goal is to make the Residential Real Estate Market Review an annual fixture for the realty community every fall, as the Market Review and Forecast is every spring.

Sponsors of the event include Pilot Media and The Virginian-Pilot Companies, Rose & Womble Realty Co., Appraisal Institute (Hampton Roads chapter), Dominion Realty Advisors Inc., Judy Boone Realty Inc. and Nancy Chandler Associates.

The E.V. Williams Center for Real Estate and Economic Development is a member-based organization that serves the commercial and residential real estate markets and economic development communities in the Hampton Roads region, the fourth largest MSA in the southeastern United States.

Currently, CREED membership is composed of 98 professional executives who are dedicated to improving the economy and quality of community living in the built environment through planning, funding and development initiatives for the more than 1.6 million residents in Hampton Roads.

For information about the Residential Real Estate Market Review or about CREED, call 683-5352 or email www.odu.edu/creed.

This article was posted on: November 1, 2011

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