Browsing Category Albemarle

7 Years of Blogging about the Charlottesville Real Estate Market

in Albemarle Blogging General Real Estate on

It’s been a long time since I started writing about the Charlottesville real estate market. This site has become my pensieve; it is easier to google my site for information than it is to remember what I’m trying to say (and this site has links, too). What started as a little blog on a freeware mac blogging platform has become something somewhat bigger – I’d wager that this site is the most widely-read real estate blog in Charlottesville.

To those of you who have read and continue to read, send me tips and thoughts and to the buyers and sellers whom I have met and worked with over the years, I offer a simple and humble thank you.

While the format of this site has changed many times, the intent has not – to provide clear and transparent analysis about the Charlottesville real estate market devoid of spin, reflecting my thoughts and opinions about the local real estate market, local politics affecting real estate and other such matters. Sometimes I write about my phones. Sometimes about technology that makes marketing real estate better for me and for my clients.

Make no mistake – the number one thing that writing RealCentralVA has done is forced me and allowed me the path to become a better real estate professional. I know more, I read more, I’m aware of more, I’m aware of more that I don’t know, I understand the context of real estate in the local, state and national economies … by reading, writing and practicing real estate every day, I’m better positioned and prepared to do what I love – represent my clients as I guide them through life-altering decisions.

After the jump are a few stories of note; frankly, with over 3700 stories written since 4 January 2005, I briefly looked at the RealCentralVA archives and picked a few that interested me.

If you’re so inclined, please subscribe to updates, either by email or RSS. I sincerely appreciate your time, comments and reading.

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Real Estate Assessments in the Charlottesville area – Still Declining?

in Albemarle Charlottesville General Real Estate Nelson on

Real estate assessments matter to market value insofar as they impact the psychological perception of value.

Do Real Estate Assessments Matter?

What do real estate assessments mean?

From a visitor:

… tidbit of info. – Nelson Co. assesses real estate every 5 years. I just received the assessment of our second home in Wintergreen. In 2006 it assessed at $599K, now $385K — down 36%

2012 is going to prove very interesting in the Charlottesville region.

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Year-End Review of the Charlottesville Real Estate Market

in Albemarle Buyers Charlottesville General Real Estate Market statistics Podcast on

So far* in 2011, more homes have sold this year in Charlottesville and Albemarle than sold last year in the same timeframe. Who knew?

Charlottesville Albemarle area home sales so far for 2011

Charlottesville Albemarle area home sales for the first 11 months of 2010

Listen to the podcast of my discussion with Coy Barefoot as we look back at the 2011 Charlottesville real estate market and a look forward to 2012.

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I’m not saying that the depression is over, but the fact that more homes have sold in Charlottesville and Albemarle, year over year, is a good thing. That the outlying counties’ numbers are down is due to a slew of factors, from foreclosures and short sales to people acting on their desires to be close to stuff. Walkability=Affordability=Profitability=Livability

Attitudes of Young Americans Bode Ill for Housing Recovery (Forbes) – This is something that is going to affect all real estate markets, not just Charlottesville’s, for years (decades?).

The lack of assets isn’t the only encumbrance to housing: Echo Boomers value education, people and leisure more than other American generations.  Of the Echo Boomers I spoke with, 13% were homeowners, yet less than a third reported interest in owning a home someday (with female Echo Boomers wanting homes more than male Echo Boomers).  They preferred graduate degrees, living in social areas (not suburbs) and freedom instead of homeownership.  A few of these Echo Boomers will need a decade to pay off their student loans after which another large loan, like a mortgage, might lack appeal.  And while suburbs seem to offer community and safety, they also add transportation costs with a lack of social diversity.

Goodbye, 0-5 Buyer -OR- Finance a House or an Education? (RealCentralVA)

People are staying in their homes longer – whether by choice or necessity. If selling is not a viable option, you need to fall in love with your house all over again.

Residential Remodeling Index at new high in October (Calculated Risk)

Now in Vogue: Practical Remodeling (Wall Street Journal)

UVA Credit Union’s Power Saver Loan–

These new PowerSaver loans will offer qualified homeowners up to $25,000 to make energy-efficient improvements of their choice, such as replacement doors and windows, metal or asphalt roofs, HVAC systems, water heaters, insulation, duct sealing, solar panels, ground source heat pump systems and more.

Interest Rates are still historically low – and they won’t start to matter until they rise.

Shadow Inventory – What will it’s affect be on the Charlottesville real estate market?

Shadow Inventory graphic from USA Today
(thanks to KCM Blog for pointing this out)

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