Buying the domain name for houses is becoming more and more common for listings, and the ROI isn’t really a factor, as domain names cost relatively miniscule amounts…. should buyers make part of the Contract to Purchase that the domain name conveys with the property, similar to the rest of the included personal property? “Refrigerator, washer/dryer/444EdnamDrive.com …” One day every property is likely to have its own domain; shouldn’t that domain convey with the property?
Date Archives January 2008
Albemarle County assessments are being mailed Friday
They won’t release the 2008 assessments over the phone (anymore) as they want to notify the homeowners by mail first.The Albemarle County real estate assessor’s site will be updated next week. I predict there will be (and should be) substantial outrage and controversy next week, most likely because while assessments may have decreased or stayed flat, the County budget has already been set – and the mil rate will (my prediction) most likely be raised to compensate.- We’re all dealing with less money – and here’s the quote from that post – Slutzky countered that the tax rate was only dropped last year to counter-balance the effects of large increases in property tax assessments. “Now that we’re not even close to that same scenario, I’m suggesting that a revisiting of the tax rate is going to be inevitable in the spring,†Slutzky said.These are a few relevant posts from the recent past – – Assessments, property taxes and shifting market values in Albemarle County (good clarification posted)- Get ready for real estate assessments in Albemarle County…. For the record – real estate assessments have very little, if any, correlation to market value.Come back on Saturday and Monday and post your assessments; I’ll have an open thread seeking feedback and responses.
From $90k to $400k
Times they are a changin’Foreclosures trigger several reactions – fear, foreboding, worry … and opportunity.The Charlottesville/Central Virginia region is really not that bad, but as Scott commented last week, This, of course, is why the MLS statistics are so lousy anyway – they don’t include foreclosure auctions and other data available in the land records. That is, they don’t really accurately reflect the real market.The MLS shows at least six foreclosures, and I’ve requested that they put a checkbox for “foreclosure – Yes or NO.” If Realtors want to stay experts in the market, we need to adapt to the changing market.
I learned a new term yesterday
A “FROG” is another term for “bonus room.” FROG = Finished Room Over Garage. Who knew?
Showing in Waynesboro
I’ve spent the past few days immersed in the Waynesboro, Virginia real estate market; the differences between it and the Charlottesville market are frequently striking.It’s not an apple-to-apples comparison, but … In Charlottesville/Albemarle, using the Charlottesville MLS, there are currently 1181 residential properties on the market and 295 under contract…. A few observations – – The Realtors and sellers tend to all be very friendly.- There are far fewer vacant houses on the market in Waynesboro than in Charlottesville.- Showings are much easier to set up in Charlottesville – all we typically do is call the owner and leave a message with the time we expect to arrive. Contrast that with the Waynesboro experience – many of the houses seem to request 24-hour notice for showings and almost all properties seem to have “Call the listing office” as the showing instructions.
Never look at it
Thanks, Greg.
Recap of Sunday’s show on Charlottesville real estate and economy
An hour flies by surprisingly fast, and seems to go quicker every time.Topics we ended up covering – – The Charlottesville/Central Virginia real estate market and what about Waynesboro and Augusta growing impact?… (I’m not an economist, but I took my best shot)- UVA’s sustaining impact on the local area and economy, as well as NGIC, State Farm, etc. – The impact the service industry has on the Charlottesville economy.- Vacant houses, REO properties, foreclosures and sellers’ expectations and pricing strategies- Tightening lending standards – Matt referred to Dan’s video that I posted earlier last week.- The agent/lender “bubbles” – as Matt so eloquently stated – “get good, or get out” of the industry.I have no idea how many people listen to the show, as WNRN doesn’t participate in Arbitron ratings, but it’s surprising how many people listen to the show live or on the podcast. This was the third time that Matt and I have done this show together, and I think that we could do this type of show once a quarter. We didn’t talk about everything we wanted to, but my hope is that I sounded honest, somewhat intelligent and competent.I’d love to spend time talking about the benefits of working with an experienced Realtor, why to use a Buyer’s Agent, pricing strategies (don’t overprice it!)