Not that she needs it, but she deserves credit for presenting an accurate, non-threatening/non-emotional picture of the current real estate market in the Charlottesville/Albemarle region…. That’s about 600 more than at the same time in the hot market of 2005.Making the picture even darker for sellers: average days on market in April was 120, up from just 66 days in April 2005, when sales were blazing…. Taking the list date out of the equation, 1088 residential properties have gone under contract so far this year (just in Charlottesville/Albemarle)There is more accumulated inventory in the market right now. Properties are selling, but at a slower rate that we are used to.* NB: for the month of May, I went only to the 30th rather than 31st for consistency’s sake.* NB: all residential properties are included, including condos.** big note: In this PDF showing inventory history, “Current Inventory” is apparently defined as Active and Contingent properties.
Date Archives May 2007
Get involved, darn it
Good article today in the HooK about bicycle commuting in the Charlottesville area. One thing that struck me was this -None of the bicyclists interviewed for this article, for example, are members of The Alliance for Community Choice in Transportation, the Charlottesville Area Bicyclists Association, BikeWalk Virginia, or other groups trying to “think globally and act locally” about how automobile transportation affects national and international issues.Without, therefore, the political muscle of say, the AAA, could muscle-powered transportation be getting short shrift in the political world? Government money for roads and bridges carries a lot of zeroes.To effect change, it’s important to align with the local groups advocating for change. A bunch of individual voices is just that – relatively ineffective individual voices.
When do we call it a disaster?
I got a headache as soon as this question was asked of me the other day when being interviewed for a local real estate market update. One of the reasons that I write this blog is to provide data analysis to help provide a clear and honest picture of the Charlottesville-area real estate market – with no agenda.Media is no longer a vacuum. There is accountability for reporters’ words thanks in large part to the blogs – and this is a good thing. Robert Scoble had a particularly interesting post, and more importantly, discussion, about fact-checking in today’s world.More on the above-mentioned story as soon as it’s online.Side note: I was speaking yesterday to a Realtor from Culpeper, about 45 minutes north of Charlottesville and more closely related to the Northern Virginia market; he said that in one neighborhood there, there are 30 foreclosures.
Staging your home
With Barbara Corcoran. Simple but effective tips in this series this week on the Today Show. There is opportunity in every market. Before, it was how to deal with rapidly rising prices; now it is how to market your home effectively.
Wednesday links 05-30-2007
More on Fortiusone, a combination of maps, data and heat mapsDevelopers, environmentalists and government officials travel from Charlottesville to Chapel HillHow much will a 3,000 unit development cost the school system? (From fbofw.com)Designing for equityPopulation caps in Albemarle County?
Carnival of real estate #44
Is up at the North Fulton County real estate blog.
Century 21’s new ad
Seems to be targeting Redfin.Despite the comment, “to watch your eyes when you walk into a home, and know right away that you are in love with it” … it’s a decent ad. Buying and selling residential real estate is an emotional process, but a good Realtor should focus on removing the emotions from the equation – managing buyers’ emotions is sometimes difficult, and if a buyer “loves” a home, sometimes it is more challenging to manage those emotions.A better campaign would be one that identified the project/transaction management aspects of a real estate transaction and removing the emotional aspects of negotiations. Speaking from personal experience, having a buffer between Buyer and Seller can be extremely valuable – both from an emotional and financial perspective.