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Foreclosures, FHA and Tax Credit Timelines and a Look at 2010

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Some of the topics we discussed: – Foreclosures in Charlottesville’s MSA – FHA’s increasing limits/guidelines (story coming later this week) and their impact on the real estate market, specifically first-time homebuyers. – The homebuyer tax credit’s impending expiration – If you’re buying a home, you must have it under contract by 30 April 2010 . – How much time do buyers and sellers have before FHA and homebuyer tax credit hit the market? … I appreciate you waiting while I could do that because I wanted to share that press conference with people because folks haven’t have a chance yet to hear WINA has been playing extended clips but they haven’t had a chance to hear the entire thing from beginning to end and if we have time again today I’m going to play that again and it will be podcast www.wina.com and www.cvillepodcast.com .

…We have the volume of sales in the Charlottesville area are up in some categories dramatically from a percentage wise year over year or actually quarter over quarter, but what we’re seeing is I think that that may be a false indication of what’s going to happen in the next three to five years. … Duncan: One of the things that I think we’re seeing now is that the people who are buying now are doing it now with the intent to be in the community and that’s something that we haven’t seen over the last five to seven years.

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Five Years of Real Estate Blogging

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For my readers and clients (and potential clients) – please contact me anytime with questions about the Charlottesville regional real estate market, story suggestions, tips, I worked hard on last year’s “blog-iversary” post where I looked back at four years of blogging about the Charlottesville real estate market , so I won’t do the same this year. … I and we at Nest will just continue doing what we think is right for our clients; ” Dual Agency is not in the client’s best interest — it’s only in the agent’s best interest “.

…Tools don’t make you good at what you do – in my case, representing clients. – My archives are getting full. – I’m trying to stick with my roots – writing about the Charlottesville real estate market, growth, politics, etc. .

…I serve on the Charlottesville Realtor Association Board of Directors , a committee or workgroup here or there, just finished my fairly fruitless term on the Virginia Association of Realtors’ Public Policy Group, will be beginning service on a VAR Group tasked with evaluating Virginia’s Agency laws (because, since the early ’90’s “much has changed in real estate with the advent of new technologies, business practices and consumer expectations.”) and will continue to serve on National Association of Realtors Groups and Committees whenever I am asked.

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Charlottesville Real Estate Radio – WNRN 27 December

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Firm Walks Away From 5 Properties Short Sales: 11 Short Sale Frequently Asked Questions Short Sale Help – HAFA Foreclosures in Charlottesville: Two properties with $100k price reductions A quick look at some of the foreclosures in the Charlottesville/Albemarle area shows that there are foreclosures ranging from $25,913 to $1,010,000 Biscuit Run may become a park: – Charlottesville Tomorrow – cvillenews – The HooK Tax Credit: Who qualifies for the homebuyer tax credit? … From NAR Tax Credit information on RealCentralVA HR 3458 – For our purposes, known as the “homebuyer tax credit act ” More on Home Sales – nationally Why U.S. Home Sales Are Both Up and Down New-Home Sales Drop 11.3% As Impact of Stimulus Fades Home Sales up as Buyers Respond to Tax Credit – National Association of Realtors (read with the biased grain of salt) More on Home Sales – Charlottesville/Albemarle Predictions and Prognostications: Prepped but Didn’t Get to: U.S. Lifts Limit On Aid To Fannie, Freddie Shadow Inventory The nationalization of America’s mortgage problem Resources for Accidental Landlords As Slump Hits Home, Cities Downsize Their Ambitions Fannie, Freddie and the Struggles of HAMP OFHEO – Rankings by *Metropolitan Statistical Areas and Divisions Percent Change in House Prices with MSA Rankings** Period Ended September 30, 2009 OFHEO says Charlottesville real estate has appreciated over 5 years OFHEO says Charlottesville real estate has appreciated over 5 years

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Radio this Weekend – WNRN Sunday Morning Wakeup

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We’ll be discussing year-end statistics about the Charlottesville region’s real estate market, prognostications for 2010, real estate and technology trends that consumers need to pay attention to and probably quite a bit more. … Maybe a little plug for Nest Realty – Charlottesville’s newest real estate brokerage If you’re going to buy a home in Charlottesville in 2010, when should you start looking? … ) ( now ) (Same if you’re looking to sell a home in Charlottesville ) … … (have you noticed the Meebo bar at the bottom? … I love doing radio for some of the same reasons I love writing this blog – one of the foremost reasons is that live radio forces me to prepare …

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Thanks Albemarle Family Readers

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The readers of Albemarle Family magazine (truly one of the best resources for families in the Charlottesville and Albemarle area) voted recently in all sorts of categories. Their inaugural ” Winning Picks for Family-Friendly Fun and Services ” selections covered virtually every segment of the Charlottesville/Albemarle area and economy. … For Favorite Real Estate Company, Nest Realty Group (the firm in which I am one of three partners ) got the nod as #3 . 1 and 2 were Roy Wheeler and Real Estate III respectively. … At the time of voting, we were a six-person firm ( now 8 ) versus 96 and 221 .* Albemarle Family Magazine readers in Charlottesville/Albemarle votes for Jim Duncan and Nest Realty Group I was further surprised to have been voted the #3 Realtor by their readers.

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Speaking at National Association of Realtors Convention in San Diego

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As with every conference I attend, I go with a couple goals: 1 – What can I learn that will help my clients ? … 3 – What can I learn that will position me ahead of my competition? – Note that my competition consists of more than Charlottesville Realtors – it’s consumers as well. Consumers are far more tuned in and in touch that ever before, and I have to work that much harder to stay ahead of them. … Here is a preview of my work-in-progress part of the panel: Update 14 November : This is the presentation I gave yesterday.

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