Charlottesville's Real Estate Blog. Buyer &/or Seller Representation, Real Estate News
If you haven’t noticed, the search for homes tool here has just been upgraded. Check it out.
My three favorite additions:
– A new “Full Screen†mode (button is above the map/details tab on the top-right
– Print favorites/noted listings
– Re-added save-search editing
Lockbox openings = buyer activity.
Fewer showings will lead to fewer contracts will lead to fewer sales. But … one component that cannot be factored in is that often, when a buyer sees a home for the “first” time in person, it’s actually the second time they’re seeing the home. (insert shameless example of a home in Charlottesville that I’m marketing now)
Thanks to LEAP, my house will be getting an energy makeover. I’ve written about green homes and energy efficiency for years, and now I’ll be benefitting from it first hand.
And I’m a bit excited.
I expect I’ll be writing about this quite a bit over the next few weeks and months, but here’s one thing I’ll note now:
I don’t think I’ll publicly disclose the builder of my home. It’s easy to find out, and I’ll tell you in person, and if you’re a client, I’ll give you the full run-down.
The reason we bought where we did was not for the house; it was for the location. We walk and ride bikes to the park, the pool, the soccer field, coffee shop(s), the library, and ride bikes to all of the above including my daughter’s elementary school.
Now, if we can save money through energy efficiency and I will learn more to help my clients, that’s a win all the way around.
Press release is after the jump.
Foreclosures in the Charlottesville/Albemarle market are going to be with for a while. I’m thinking for the next three to five years. Minimum.
The Vicious Cycle of Foreclosures
– a useful infographic
– It’s more than finances. “A paper released last month by the National Bureau of Economic Research found that people living in high-foreclosure areas in New Jersey, Arizona, California and Florida were significantly more likely than those in less hard-hit neighborhoods to be hospitalized for conditions like diabetes, high blood pressure and heart failure.”
Secret Docs Show Foreclosure Watchdog Doesn’t Bark or Bite (if you’re going to read one story, make it this one)
– This is exceptionally troubling. Excellent comments as well on this ProPublica story.
There’s danger in putting much faith in large-scale housing analysts and analysis, but I’ll take Builder online noting Charlottesville as being relatively healthy as a good thing.
Reason #1 that I’ll give the analysis a bit of credibility: They explicitly recognize “Charlottesville” as “Charlottesville metropolitan area”. Most lists about “Charlottesville” do not seem to recognize that “Charlottesville.”
Really, we’re less bad than many, many other markets.
From Builder magazine: (better context for building permits’ history at the bottom of this post)
6: Charlottesville, Va.
– Health Index: 81.0
– 2010 Population Forecast: 201,599
– 2011 Total Building Permit Forecast: 634
– 2012 Total Building Permit Forecast: 798Charlottesville isn’t a very big housing market, but it’s a pretty strong one. Home to the University of Virginia, the region has benefited from some strong household growth in recent years. It continues to attract second-home buyers from Washington, D.C.
Bargains are tough to come by in Charlottesville, where the median home price in August stood just below $300,000, according to local real estate agent reports. Though prices are down so far this year, Moody’s expects them to rise 1% next year.
The region has had some strong household growth in recent years, a trend expected to continue through 2012. It will also benefit from strong growth in median income–3.7%.
You know what? I’ll take good news/analysis. We need it.
It’s coming. I mentioned in May the coming Coal Tower/City Walk project.