Is it that “experts†will tell you to hold the stock in hopes of it going up in value and then explain that those with homes worth less than their mortgages shouldn’t feel bad about breaking their mortgages and defaulting ? … … But – start here – Assessments, property taxes and shifting market values in Albemarle County The new bailout/foreclosure prevention bill – start here to educate yourselves – Calculated Risk This is intended to help “thousands” (a drop in the bucket unless it is several hundred thousand), and seems to encourage homeowners to stop making payments until they are 90 days late. and Rain City Guide This is the beginning of massive government intervention to try and slow foreclosures.
Browsing Category Market statistics
Consistently Vacant Homes in Charlottesville Homes for Sale
CNBC noted last week that vacant homes are having a national impact on the market, but this post is about the local market – Some of the consequences of vacant houses – potential identity theft , homeowner’s insurance rates going up (or being canceled) , snowball effect on neighborhoods , … localities’ budgets will likely be impacted by all the vacancies … If you’re a buyer looking at a vacant house, you may want to (get permission) and come in before the home inspection and spend some time flushing toilets, running water, running the dishwasher, washer/dryer, etc. – the snapshot provided by a short (although thorough) home inspection may not provide all the insight you need.
“Official” Market Report Released
Home buyers will be required to repay the credit to the government, without interest, over 15 years or when they sell the house, if there is sufficient capital gain from the sale…if the tax credit is claimed on the 2008 tax return, a $500 payment is not due until the 2010 tax return is filed.†… I wrote a story at AgentGenius the other day describing the breakdown we’ve seen in our economic system, and this picture says at least one thousand words – 
Updated Market Report for Charlottesville Region
In anticipation of the soon-to-be-released “official” market report, here is some localization: When searching the entire MLS, there are currently* – 3,521 active residential properties – 557 under contract – 2,423 sold since 1 January 2008 For the purposes of this post, the charts and graphs show Albemarle, Charlottesville, Fluvanna, Greene and Nelson Counties. – 2,236 active residential properties – 347 properties under contract – 1821 properties have sold since 1 January 2008 – Nearly 15 months of inventory . … 
Inventory/Absorption Rate 
Year to Date Average: 
Realtor Update : Selfishly, I’d like to see a dramatic reduction in the Realtor ranks – it would help professionalism, competence and public perception.
Waynesboro and August Brief Market Report
They say that pictures say what words cannot – Listing volumes for Waynesboro and Augusta List to Sell for Waynesboro and Augusta Days on market : 2005 – 104 2006 – 105 2007 – 126 2008 – 144 Contact me if you would like more detailed information, market statistics or other market data for Waynesboro and Augusta. This market is not immune to the current market volatility.
30% “Discounts” on Condos in Charlottesville
Aside from the fact that this will screw up/skew the Days on Market data, click on the image below for a real shock. 
I think this may be an ongoing trend in the condo conversion developments such as Hessian Hills, Barracks West, 1800 JPA … as such, if you’re looking at an investment, now may be a very, very good time to pick up a condo or three. … Charlottesville is a fairly dense locale and it’s only going to get more dense and more densely populated … these locations are very good and will still be good in three, five, ten years and beyond.
Download the Charlottesville Market Report
Get it here .