Inman Real Estate News – Time to cash out or dive further into real estate?: (Link requires paid subscription) “Real estate is the perfect capital market scenario,†he said when I posed the “what’s going on here†question to him…. Houses that are ‘tear downs’ or in need of major TLC are now being priced with the finished profit in mind – in other words, they incorporate the ability for upside in their pricing – so there’s no unknown. The only unknown is whether there will be a terrorist event or an earthquake sometime in the future that will rock the basic foundation of people’s faith in the economy as a whole, not real estate in particular.“… There are still a few bargains out there but they are few and far between…and your neighbors might still have bars on their windows.â€
Browsing Category Regional
Gourmet Gas Stations
New York Post Online Edition: : While it’s an unlikely culinary revolution, Slim Jims are making way for sushi as gas station convenience stores transform themselves with upscale eats and shed their image as junk food pit stops. It’s an attempt by the industry to discourage the gas-up-and-go mentality and bolster the bottom line with artisanal cheeses, freshly baked breads and high-end meals that entice consumers to linger and eat — and to do it often. “We’re trying to make these stores destinations rather than convenience stops,†said Stuart Lowry, marketing director for The Markets of Tiger Fuel, a Virginia convenience chain that offers fresh seafood, a fancy deli and professional chefs…. Roast beef, fantastic sandwiches, wine, microbrews, coffee kiosks …
May Newsletter
I have just published my May Newsletter. Please email me if you would like a PDF copy.
Subdivisions Impose Social Divide
Subdivisions Impose Social Divide: It was not simply that thousands of houses came; it was how they came — in such self-contained communities as Brambleton and Forest Manor, Forest Run and Belle Terra, all with their backs turned to the rambler. And Ivan, once the insider in a sense, became an outsider — a resident of nowhere…. We are becoming more segmented, however – Crozet, 29 North, Lake Monticello, Pantops, et al. According to the Community Associations Institute in Alexandria, four out of five U.S. homes built since 2000 have been in homeowner association-governed subdivisions, where residents pay dues to support such amenities as clubhouses and pools that usually exclude those outside.
Great post about Big Builders
From an E-Pro listserv – If I were you in Columbus, GA (great area) I would get to know the big builders, their product, their policies and welcome them to the area. They don’t buy in a market unless they know who will buy their product, where they work, how much money they make, how long they’ve been married and what they drive…. Although they won’t share all of this with you, just watch what they do and market to the same person in your move-up market. Move up buyers buy 60 to 65% more than they sell with today’s interest rates when purchasing resale and 65 to 75% when they buy NEW.
Home Depot in Waynesboro
For those of us who live in or near Crozet, the opening of the Home Depot in Waynesboro is a great thing. One, it’s better than Lowe’s and two, it’s a lot closer (and less aggravating) than driving to 29 North!
Buying a new home?
New-Home Incentives: Who Benefits More — Buyer or Builder’s Affiliate?: 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. Ryan Homes is building a couple of developments in Louisa and Fluvanna Counties and is offering exactly what is described. It seems to benefit my clients, so I will fight to ensure that they get what is being offered. To the extent that lenders pass along discounted fees or offer preferred rates to builder partners, builder financing incentives to buyers may in fact represent true savings.