HUD’s analysis of Charlottesville’s real estate market – go here to read the PDF. I will be analyzing this later.
Browsing Category Regional
Bubble discussion
From the HousingBubble – What are your thoughts as to whether there is a “bubble” in Central VA? Is our market different? How? How not?
We’re Number 90!
According to Money Magazine, we are the number 90 place to live in the nation. I think that we used to be at least in Money’s top 10 a couple of years ago, but I could be wrong. Number 90 doesn’t have the same ring to it as Number One.
Charlottesville’s airport continues to grow
The airport’s master plan was updated late last year, and the update calls for the construction of additional parking and hangers, and a deicing facility…. Dean describes the extension to the runway, which she says can currently accommodate 737s and does so for charter flights, as a measure to meet FAA safety standards…. The extension required a modest northward enlargement of Albemarle County’s “Airport Impact Area,†a large keyhole-shaped district that currently includes much of Charlottesville and the surrounding areas and restricts the height of structures within its boundaries for the sake of air traffic safety.
The July Forum Watch is out
It is somewhat ironic that reports released last month by Albemarle County , the total number of new dwelling units approved in 2004 is at its lowest point since 1995. The total number of new single family homes built in 2004 (484) is the second lowest number of such units since 2000.In the region labeled “America ’s #1 Community†one would anticipate this number increasing not decreasing. Albemarle County ’s Community Development department, at the direction of the Planning Commission and ultimately the Board of Supervisors, is restricting the supply of housing by keeping major rezoning in process for several years rather than months.
TGIFridays is coming
They must be getting closer to opening … saw this on Emmet Street today.
Builders’ incentives illegal?
From today’s WP – If you have shopped for a newly built house in recent years, you have probably run into this: The builder offers you a substantial incentive — a finished patio, extra square footage or lush landscaping — if you agree to obtain your mortgage, and maybe your title and settlement services, through an affiliate of the builder….”What they’re doing here is discouraging buyers from shopping in the open market,” Savitt said. “They’re trying to steer people to the lenders they’ve got deals with, and they try to make your head spin with big incentives” that may be more illusory than real.In many cases, the Buyer does fare much better by using the builder’s affiliates…. It is hard to turn down this type of incentive – sometimes a $20k incentive to use their lender.