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Au Revoir, Forest Lakes & Hydraulic Markets?

in Albemarle Charlottesville on February 14, 2011 February 15, 2011

The beauty of the Markets – gourmet gas stations which really are ” ironically delicious ” – the original one at Bellair , the newest one on 29 at the corner of Greenbrier, the one at Hydraulic and 29, and the ones at Forest Lakes and Mill Creek – is that they are decidedly Charlottesville .

…â€œWeâ€™re trying to make these stores destinations rather than convenience stops,â€ 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.

…While I share some of the writer’s sentiments, I’d rather focus on their current contributions to the economy and to the culture of Charlottesville for the past 20+ years as a resident, customer and Realtor in Charlottesville. … I may sound a bit elitist, but given the choice between a snack or sandwich and a cup of Mudhouse Coffee at a Market or a chili dog and a fountain drink at a 7-11, I’ll choose the former every day of the week.

Buying a Home to Get More Expensive. Again.

in General Real Estate on February 14, 2011 February 14, 2011

Obama report on Fannie, Freddie plan may boost mortgage rates The Obama administration wants to raise fees for borrowers and require larger down payments for home loans as part of a long-term effort to restructure the nation’s housing market. But it warned that these measures could boost mortgage rates and make it harder for home buyers to secure the 30-year fixed-rate mortgage, a mainstay of American home buying for decades. My first reads/reactions? – Cash buyers will be far better than borrowing buyers – Government’s not going to get out of the mortgage business . – Can’t live with ’em, can’t live without ’em – Calculated Risk likes Option 2 More at the WSJ : “The cost of mortgages is probably going to go up, and homeownership is probably going to go down,” said Daniel Mudd, the former chief executive of Fannie Mae who is now CEO of Fortress Investment Group. … As I tell anyone who asks, the best part of being an informed and active real estate agent is that every day brings new opportunities to learn.

Friday Chart – Where are We Right Now?

in Friday Market statistics on February 11, 2011 February 11, 2011

For your review: The Nest Report for January 2011 (pdf) covering the Charlottesville Extended MSA (EMSA)* * EMSA = Charlottesville, Albemarle, Nelson, Louisa, Greene, Fluvanna

Small Things to Love about Charlottesville – 32 of them in fact

in Charlottesville on February 10, 2011 February 10, 2011

@Marijean asked and people answered. It’s a pretty cool list. #7, “Seeing people you know” is mine; inspired by my seeing someone and saying hello to someone I know while riding my bicycle on Water Street yesterday.

Is This the Only Fire Escape on the Downtown Mall?

in Charlottesville on February 9, 2011 February 9, 2011

We noticed today while walking to lunch at the Market Street Market * that there seems to be a dearth of fire escapes on Charlottesville’s Downtown Mall. Do you know where this is? * Should businesses want to rank for their name ?

What I’m Reading Today – Mortgage Apps Drop, Gas Worries

in General Real Estate on February 9, 2011 February 9, 2011

UH OH: WikiLeaks cables: Saudi Arabia cannot pump enough oil to keep a lid on prices . â€œUS diplomat convinced by Saudi expert that reserves of worldâ€™s biggest oil exporter have been overstated by nearly 40%.

…Rates rise & buyers get more pinched. – Web intelligence and the dispersion of public thought – Housing Bubbles Are Few and Far Between It’s not so comforting now, but when we have hindsight … – 27% of Homeowners in the US are Underwater? Of course, if we’re basing things on inaccurate Zestimates ….

HB 1907 – Agency in Virginia, Disclosures and More

in dual agency Politics on February 9, 2011 February 9, 2011

The bill has unanimously passed the Committee and the House of Representatives . Discussing the perils of single agent dual agency has long been my windmill; while not perfect, this bill clearly is a step towards representation .

…That following the commencement of dual standard agency, the licensee will be unable to advise either party as to the terms, offers or counteroffers; however, under the limited circumstances specified in subsection C, the licensee may have previously discussed such terms with one party prior to the commencement of dual standard agency;

…That the licensee cannot advise a buyer client as to the suitability of the property, its condition (other than to make any disclosures as required by law of any licensee representing a seller), and cannot advise either party as to repairs of the property to make or request; 3. … That the licensee will be acting without knowledge of the client’s needs, client’s experience in the market, or client’s experience in handling real estate transactions unless he has gained that information from earlier contact with the client under the limited circumstances specified in subsection C; and 5.