Posts Published by Jim Duncan

A Charlottesville Realtor who tries to stay on the bleeding/cutting/functional edge of technology and real estate trends. I have been selling real estate for the past 10 years, lived in C'Ville for twenty+ and am married to one of few Charlottesville natives left.
Charlottesville MSA Homes Listed, Sold and Put Under Contract

Charlottesville Real Estate Market Update: Transaction Volume for 2000 – 2011

in Market statistics on

Part Two of … See Part One – Charlottesville MSA – Single Family & Attached Homes Placed Under Contract – First Five Months

Looking at the Charlottesville MSA for transactional volume history … what we need is stability and consistency. Once we can reach a relatively stable number of transactions, I think we’l be able to start to see normalcy, whatever that is … maybe ~ 1000 transactions per year?

For the first five months of the year, what we’re looking at here is everything – single family detached homes, attached homes, new construction, resale, condos …

Read More

What's Selling in Charlottesville/Albemarle? Single Family homes, attached homes, condos?

What’s Selling in Charlottesville? Single Family, Attached homes or Condos?

in Market statistics on

Part Three of …

One of the most common questions I get is – what is selling in Charlottesville and Albemarle? Condos? Attached homes? Single Family? A look at the data gives a look at some answers …

NB:

– I’m keeping this focused on only the City of Charlottesville and the County of Albemarle as that is where the bulk of the attached homes and condos are located.

– Single family homes have come to be more affordable, leading to a decline in transactional volume within the condo and attached home segments of the market.

– 2005 was very good for condo conversions; now the condo conversions have been decimated in value.

– Attached homes can be very attractive – newer ones in good condition price right, especially so.

– Homeowners Associations’ fiscal health is likely to be more and more of an issue as this market correction continues to correct.

Read More

Mortgage Delinquencies by Loan Type - Courtesy of Calculated Risk

QRM, FHA, Loan Type Delinquences

in General Real Estate on

I found the above chart fascinating.

If you’re a consumer/homeowner (and voter) you should pay attention. People who likely understand this stuff less than we do (politicians) and who probably won’t read the relevant bills are likely going to be making incompetent decisions that affect all of us. As always, there is a likely a middle ground between the lobbyists (NAR) and the government (who have no desire to actually fix the problems).

Briefly: sea changes in the lending environment are in the offing. Proposals range from forcing lenders to have skin in the game to requiring many/most buyers to put down 20% downpayments – this would affect buyers, sellers, real estate agents (like me), all the ancillary professions and the entire American economy.

Educate yourselves; I’m trying to do so myself.

Read More