@Marijean asked and people answered. It’s a pretty cool list. #7, “Seeing people you know” is mine; inspired by my seeing someone and saying hello to someone I know while riding my bicycle on Water Street yesterday.
Date Archives February 2011
Is This the Only Fire Escape on the Downtown Mall?
We noticed today while walking to lunch at the Market Street Market * that there seems to be a dearth of fire escapes on Charlottesville’s Downtown Mall. 
Do you know where this is? * Should businesses want to rank for their name ?
What I’m Reading Today – Mortgage Apps Drop, Gas Worries
UH OH: WikiLeaks cables: Saudi Arabia cannot pump enough oil to keep a lid on prices . “US diplomat convinced by Saudi expert that reserves of world’s biggest oil exporter have been overstated by nearly 40%.
…Rates rise & buyers get more pinched. – Web intelligence and the dispersion of public thought – Housing Bubbles Are Few and Far Between It’s not so comforting now, but when we have hindsight … – 27% of Homeowners in the US are Underwater? Of course, if we’re basing things on inaccurate Zestimates ….
HB 1907 – Agency in Virginia, Disclosures and More
The bill has unanimously passed the Committee and the House of Representatives . 
Discussing the perils of single agent dual agency has long been my windmill; while not perfect, this bill clearly is a step towards representation .
…That following the commencement of dual standard agency, the licensee will be unable to advise either party as to the terms, offers or counteroffers; however, under the limited circumstances specified in subsection C, the licensee may have previously discussed such terms with one party prior to the commencement of dual standard agency;
…That the licensee cannot advise a buyer client as to the suitability of the property, its condition (other than to make any disclosures as required by law of any licensee representing a seller), and cannot advise either party as to repairs of the property to make or request; 3. … That the licensee will be acting without knowledge of the client’s needs, client’s experience in the market, or client’s experience in handling real estate transactions unless he has gained that information from earlier contact with the client under the limited circumstances specified in subsection C; and 5.
What do Real Estate Assessments Mean?
It’s the value on which you (and I) pay taxes.
C-Ville interviewed the Bubble Bloggers:
What do the 2011 assessments not show, with regards to local housing? Assessments are not appraisals. They are not completed by people who have actually examined the home. Assessments do not show how many folks are at the brink of foreclosure, struggling to make home payments, unemployed, late on taxes, trying to get a mortgage modification. Assessments don’t show how few sales there are nowadays. Assessments don’t show soaring inventory. In some sectors, it’s 12, 18, 24 months’ worth. At the high end, it’s years’ worth.
How do the assessments relate to the number of days properties spend on the market?‘Days on Market’ means almost nothing because it is manipulated. Houses are relisted and repriced to make them [resemble] ˜fresh’ listings, because listings get the most attention in the first 30 days.
– “Gaming the MLS” to reset the Days on Market is less common now, but it certainly is still done. Any good Buyer’s Agent will provide the true timeline of a property to his or her client.
– My answer to a client this morning asking about the assessments’ relation to market value and pricing their home to sell:
“Assessments are not a reflection of market value. They are a backward-looking assessment of what the market value may have been at the time the assessor looked at the house (most likely online, and not in person). The assessor may or may not know the condition of the property, the condition of the property’s neighbors, may not consider the traffic noise, crime stats, proximity of sexual offenders, level of inventory, smell of the neighborhood, etc. etc. etc. Assessments are why you pay taxes on.”
And from the Bubble Bloggers’ post:
c-ville: What do the assessments mean in relation to the CAAR report, and CAAR-provided stats like the # of days on market, etc?
Almost nothing. Any reputable Realtor will tell you this.
Would you close Rural Post Offices?
Not to mention to say how much money they could save if they closed the Afton, Greenwood, and other small offices they have around the area and concentrated the operations for Western Albemarle at the Crozet office.
The Charlottesville processing facility closed early in 2010 , but as of yet (to my knowledge) none of the small rural post offices have closed.
…I indifferently avoid the post office, and find that my local coffee shops provide the hub that I seek, but I wouldn’t seek to draw conclusions solely from my perspective.
… View Larger Map Driving Directions Related reading : – New Census Figures Mean Rural Areas Lose Clout – Mapping Virginia’s Human Settlement Patterns – Rural town fears US Postal Service cuts * Unrelated note: I wish I could embed the Post Office’s map , but now Bing is
Four Positive Signs about the Charlottesville Real Estate Market
1 – Stabilizing real estate assessments – some are legitimately up, some are legitimately down; while they are irrelevant to market value – they do affect consumer sentiment & perspective . 2 – Unemployment has declined to a two year low . ( more ) 3 – I am hearing this more and more from buyers with whom I am working: “She is in no immediate rush but she is aware that this is probably the bottom of the market so would like to capitalize on that.” … I just returned from FiberLight’s ribbon cutting ceremony at the Omni Hotel in Charlottesville, and I am very excited about what they are doing, what they plan to do and what this may mean for the Charlottesville region. More to come on how this will affect businesses, consumers and most importantly (to me at least), the Charlottesville real estate market.