I saw in craigslist today an ad offering a condo for rent in a condo conversion in the City…. Basic mortgage math says that the PITI payment for that would be, assuming 30-year amortization and 5% down, 6.5% interest rate says that the mortgage payment would be just under that $1200 threshold (not including the condo fees)…. when one can purchase a similar unit for about the same price as renting it – is that still a good buy? ** I am not going to link the condo conversion as I don’t want to be accused of raising a ruckus about any particular development; I may sell one of them one day.
Date Archives March 2007
How to get free publicity from bloggers
Just ask. (I am told that my copy is “on its way.”)
Selling your home yourself?
Sites ForSaleByOwner.com and Owners.com, for example, allow a seller to post a listing to gain Internet exposure.In the Charlottesville area, these sites just don’t have the marketing pull yet. A very small segment of the market is going to be searching on these sites; when marketing one’s home, it is important to market to both the niche you are targeting (medical residents, eco-friendly buyers, tech sector folks, NGIC employees, etc.) as well as everybody else. There are better options in the Charlottesville area than these sites.Courtesy of Statsaholic: (with the caveat that Alexa’s data is suspect)Courtesy of Google Trends:And perhaps the most important tip: “When it does come time to deal with a buyer, it’s a good idea to have a written preapproval,” Udelson said. Working with a buyer who is preapproved for a mortgage will remove some potential surprises from the closing process.Nichole said that one of the most common problems that a for sale by owner will run into is getting to closing only to find out that the buyer couldn’t afford the house — “causing them to start the selling process all over again.”
Charlottesville Neighborhoods – Barracks Road
I am partial to this part of Charlottesville for a variety of reasons, first and foremost being that I grew in this general vicinity.The hub of this part of Charlottesville is the Barracks Road Shopping Center, home the only two stores I personally need – Greenberry’s coffee shop and a Barnes and Noble.The Charlottesville Community Design Center defines the area thusly: (again, check out their great maps!)The Barracks Road, Rugby, Greenleaf, Kellytown area is a combination of many neighborhoods located in the north central portion of the city. This 386.44 acre area of the city is bordered by Barracks Road Commercial Corridor to the south and the 250 bypass to the north. This area was annexed into the city during the 1916, 1938 and 1963 annexations. The majority of the neighborhood is owner occupied single family dwellings.My description of the area expands a little bit to the West, just beyond City limits.
Monday links 03-19-2007
One of the best things you could subscribe to a read right now – The Dip by Seth GodinA good story referencing home warranties – I recommend that all of my purchasers get home warranties (some are good, some not so much) – if that $400 saves you $6,000 when the HVAC dies – isn’t that money well spent? Housing and the Stock marketA doom-and-gloom perspective on the housing marketMortgage suitability? (via Volokh) – How much protection from themselves do buyers need?
Top 5 Questions Home buyers ask
.. And why Realtors can’t answer most of them.
Riffing off of the WSJ’s timely article this morning:
1- Are there kids in this neighborhood?
Look for balls, bikes and playground sets. Despite the fact that most families with kids want to live in neighborhoods with other kids, this is (per my training) deemed to be a Fair Housing Law violation.
2- How are the schools?
Greatschools and School Matters are good starting points, but nothing can replace actually visiting the schools and meeting the principals. We are all customers of the public school system.
3 – What type of people live here?
Many folks want to live with like-minded people, be they other families, medical residents, professors, young professionals, fellow retirees … I just won’t answer these questions. You want demographics without walking the neighborhoods and knocking on doors? Check out the Census’ Fact Finder.
4 – Is this area safe?
Click through to read the rest …
Rules for real estate agents
Good post today at the Big Picture.