After a closer look at the VAR’s July numbers, it seems that “median price†is really not at all indicative of market trends, which seem poor and getting worse with each passing month in this area.Consider, average days on the market of 86 marked an increase of nearly 50% from the same month in 2006 and 10% from June ‘07…. Dumping massive supply into a rapidly declining market doesn’t seem to make much economic sense.And from Luke:As a real estate amateur and an intelligence professional, I know one thing for certain, the Defense Intelligence Agency is moving a sizable portion of its operations to Charlottesville, creating a significant number of high-paying jobs and likely keeping prices inflated as they have been over the past few years, so I have no fear in buying a house right now, in fact I’m building one…. In short, the Dillon rule does indeed hinder our ability to manage growth, but the county is not without tools to address these issues.For that matter, Governor Kane [sic] has mentioned a willingness to work with local governments to give them more tools to address the issue of sprawl…. If we’re going to grow (and we seem to be) we should grow in the right areas, and we should grow in a smart manner – with infrastructure as well as houses.As noted on Brian Wheeler’s site last month:For the SFD permits detailed above (last 12 months), 61.4% were in rural areas and 20.25% were in the Crozet designated growth area …
Browsing Category Politics
A foray into Albemarle politics
The opportunity to participate in the discussion of growth in Albemarle County came about recently, and after a bit of deliberation I decided to take it. Better to exercise my voice and be part of the process.MissionThe Fiscal Impact Advisory Committee (FIAC) is appointed by the Board of Supervisors (BOS) to provide advice to the Board of Supervisors on the development, implementation, and uses of the County’s official tools for measuring the fiscal impact of development. The Committee’s goal is to foster a well-informed, thoughtful, and constructive dialogue on the fiscal impact of development, thereby contributing to rational decision-making. Fiscal impact, in this context, refers to the dollar value of the public costs and revenues associated with development….ResponsibilitiesEnsure that the assumptions behind the County’s official tools of fiscal impact analysis are open to scrutiny and discussion from a cross-section of community interestsEnsure the community of the credibility of the County’s official tools of fiscal impact analysis, by providing oversight and management as the County uses its official tools of fiscal impact analysis to analyze various growth scenarios and development projectsIf anybody has insight or advice, I’m all ears.
Albemarle County BoS Candidate interviews
Charlottesville Tomorrow continues its extraordinary public service with interviews with the candidates for Albemarle County Board of Supervisors. If you’re planning to vote (and you should be, if you live in one of their districts) you would be well advised to listen to these.In the Scottsville District – Lindsay Dorrier, Kevin Fletcher and Denny KingIn the Rivanna District – Ken Boyd and Marcia JosephIn the White Hall District – Ann Mallek and David WyantYou just won’t find this kind of comprehensive coverage of local politics anywhere else. More than anywhere else, local politics are where your vote can make a difference. Growth, land use, transportation, infrastructure, property taxes, property rights – they’re all here.
Transparency in government and real estate
Transparency is a good thing.I’ve noted before how my company’s commissions are broken down. As a buyer and a seller, the expectation is that all money being moved around between the buyer and seller be shown on the HUD-1 form (PDF). Granted, the HUD can be confusing, but at least it’s all there in plain sight. Why are there only three candidates in the presidential campaign who have embraced transparency and accountability in government?
Soccer schedules, local elections and affordability – 08-15-2007
noted that the city’s goal is to have 15 percent of units in a project be reserved at affordable rates, or a commensurate amount of money donated to a nonprofit.C-ville’s “Best Of” mapped out; alas, there was no “Best Realtor” category.Get ready for the surge of election coverage…. A lot of money is being raised and spent.You can’t go back home again, especially apparently to CrozetUVA’s soccer schedules have been released…. Add the Men’s Soccer schedule to your calendar by downloading this and the Women’s Soccer schedule by downloading this. (my first attempt at doing this, so do so at your own peril 🙂 )Homebuyers with good credit find it harder to get a loanTaking your house public (!)
What do we do if the population exceeds optimal levels?
As mentioned in June on Charlottesville Tomorrow’s site in June, and approved by the Board of Supervisors, Advocates for a Sustainable Population (ASAP) have received an additional $11k from the City of Charlottesville (you may have to scroll down) for their study to research what is the “optimal population” for the City and County. As I’ve noted before, and I may be simplifying the matter – how does the government enforce an “optimal population”?… Defining and enforcing this “policy” would be a multi-edged sword – 1) those who currently reside within these areas would probably see their property values rise but1b) there are fewer buyers out there as the mortgage money dries up2) the surrounding counties would see more development as growth is pushed upon them – but just so long as it’s not in Charlottesville/Albemarle, I guess that’s OK (note the sarcasm)We all share resources…. Pitting localities against either other – from a real estate market, from a political and from a social point of view is counter-productive and divisive.
If you want to know about growth issues in Charlottesville/Albemarle
Check out Charlottesville Tomorrow’s 47-page study KEY FINDINGSWith respect to policy issues related to land use, infrastructure, taxation, transportation, and leadership, the survey results indicate: * There is strong public support for policies, like phasing or time based zoning, that would set a schedule for the rate of new development in Albemarle County’s rural areas…. * 81.4% of respondents indicated they support the use of tax dollars to purchase rural development rights if it would permanently protect the land with conservation easements…. When asked about government’s efforts to have developers pay their fair share for infrastructure, 42.2% of respondents were satisfied.Local politics, growth and infrastructure issues impact the real estate market in often dramatic ways – every one of these issues affects buyers’, sellers’ and other residents quality of life.Interesting notes- We need to keep and protect our rural countryside from becoming over developed – 93.9% In order to permanently protect rural land from development I’d be willing to pay a bit more in real estate property taxes – 57.5% Property owners should be able to do what they want with their land, regardless of the impact on neighbors. Decisions about keeping our rural countryside intact should be left entirely to the owners of that property – 33.5% So, we need to protect our countryside, but only a think majority is willing to pay to protect that countryside.