Charlottesville's Real Estate Blog. Buyer &/or Seller Representation, Real Estate News
I’ve tracked the housing vacancy rate for homes actively on the market in the Charlottesville MSA irregularly over the past several years; it’s an indicator as to the health of the housing market. More occupied…
In January of this year, I looked at the number of vacant homes for sale in Charlottesville and Albemarle . … 2 – Sometimes the sellers are more negotiable, basing their asking prices on what the house is worth rather than what they need to make. As with all homes for sale, there is no rule, consistent percentage to offer under asking price, rhyme nor reason to sellers’ motivations to sell or price.
… Related Posts : Vacant homes in 2007 Vacant Homes (January 2007) Consistently Vacant Homes in Charlottesville (2008) Vacant Homes and Homeowner’s Insurance Raw Data :
2010 Third Quarter 2009 See all Friday Charts here.
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.
As promised last week (and delayed), the following is written by David Jenkins, an insurance agent with Liberty Mutual in Charlottesville* . meant to answer the question raised when I was last on Charlottesville Right-Now with Coy Barefoot . … If the company is not notified, the policy could be cancelled if they find out, and a claim could be denied because of this as well.
For Albemarle, Charlottesville, Fluvanna, Greene, Louisa and Nelson, there are currently 2,012 active residential properties on the market – 36% of these are vacant.In the Waynesboro MLS, there are 1107 properties on the market – 46% of these are vacant.What does this mean? Buyers are in the drivers’ seat, and showing houses is much easier.