As I look back at 2010 and forward to 2011 and beyond with respect to the Charlottesville area real estate market, I’m reading national news and opinions as well so as to buttress my perspective. … Key to Real-Estate Rebound: Solid Economic Growth – WSJ Housing faces additional uncertainty because the government is set to reconsider how aggressively to support homeownership. Deficit hawks have their sights set on scaling back the mortgage-interest deduction, and the Obama administration later this month will put forth a proposal on how to revamp Fannie Mae and Freddie Mac and the broader mortgage market. … And perhaps the BIGGEST “I don’t know” of 2011 : There may indeed be serious and significant title issues that could affect millions of properties, millions of buyers, title insurance companies, and lenders for years to come.
Good For Him
From the Times Dispatch : A Charlottesville man who stripped down to his underwear at Richmond International Airport to protest security-screening procedures was charged with disorderly conduct Thursday, airport police said. … The incident occurred at 2:17 p.m. at Checkpoint B, the busier of the airport’s two checkpoints, said airport spokesman Troy M. … Bell said police reported that when they arrived at the checkpoint, they found Tobey, “absent of pants and shirt in full public view, exposing language regarding the Fourth Amendment written on his chest and abdomen with marker or crayon.” The message read, “Amendment 4: The right of the people to be secure against unreasonable searches and seizures shall not be violated,” Bell said.
Moving Median Home Price for Charlottesville MSA
Some year-end Charlottesville real estate market data for you: And a ♫♫♫♫♫ a Happ-y New Year ♪♪♪ Context coming on Monday, 3 January … as well as the answer to the question, “Is 2011 the right time to buy a house in Charlottesville?” (Answer: Maybe)
Moving Median Home Price for Charlottesville Metropolitan Statistical Area for the Past Year: 
Moving Median Home Price for Charlottesville Metropolitan Statistical Area for the Past Five Years: 
Condos – Sales and Inventory Report 2006 – 2010 (PDF) Attached Homes – Sales and Inventory Report 2006 – 2010 (PDF) Single Family Homes – Sales and Inventory Report 2006 – 2010 (PDF)
Appraisals and AVMs – Finding and Determining Value is Challenging
A neighbor called me a few months ago inquiring how much his home was worth; I asked if they were moving and he said that no, they weren’t moving, but his bank had frozen his home equity line.
…Morgan Chase & Co. , Wells Fargo & Co. and other big lenders, claiming that banks are misusing automated valuation models in order to cut home-equity lines of credit. … “The main difficulty is that I need two or more sales prices for a property, and if I’m not able to find it, it doesn’t fit into the sample used to calculate the index,” says David Stiff, chief economist at Fiserv , one of the largest providers of automated appraisals using this methodology. … There are so many various forms and methods of valuation: – Appraisals – Assessments (get ready for this discussion in the Charlottesville – Albemarle area – continuing declines of property values will lead to a big conversation about the property tax rates in our localities) – AVMs – Zillow, Cyberhomes, Realtor.com, RPR Determining and defining fair market value is more and more challenging.
Stupid is as Stupid Does. Or, the Decline of Common Sense in Education
Rather than seeking to educate people – kids, teachers, parents – about the potential dangers of inappropriate student/teacher interaction, the Virginia Board of Education is seeking to prevent all non-official digital communication :
…Model policy for electronic communications with students • Teachers and other school board employees must restrict electronic communications with students to accounts, systems and platforms provided by the school division. … • School board policy on electronic communications with students also applies to teachers and other employees of virtual school programs and other vendors providing instructional services to students.
…Given the choice between having my clients feel like they are making good decisions, and having them actually make good decisions based on facts, analysis and common sense, I will choose common sense 8 days a week.
Buy a House in Charlottesville Now – or Else!
If you’re planning to buy a house (in Charlottesville) in 2011, do so after doing your thorough due diligence, hiring the right representation, and ensuring that you are buying for the right reasons.
… ‘(2) EXCEPTION IN CASE OF BINDING CONTRACT – In the case of any taxpayer who enters into a written binding contract before May 1, 2010, to close on the purchase of a principal residence before July 1, 2010, paragraph (1) shall be applied by substituting ‘July 1, 2010’ for ‘May 1, 2010’.’. * Love those asterisks *Federal tax credit up to $8,000 for first-time buyers and $6,500 for move-up buyers available on homes under contract as primary residences by 4/30/2010 and settled by 6/30/2010. $8,000 tax credit is for first-time buyers or those who have not owned a primary residence in 3 years. The $6,500 credit is Available to Move-Up Buyers who have maintained the same principal residence for any 5-consecutive year period during the 8-year period ending on the date of the settlement.
Apparently, an iPad Changes Everything (in Real Estate)
For my (potential) seller clients, being able to have a conversation about the listing process with the iPad as the facilitator will be simple and functional. … Now taking recommendations on best apps and practices. :)” Within a day, I realized that everything had changed: 
Top 5 Observations: 1 – I’ll be able to leave the Macbook at home.
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For those of you interested, these are some of the first apps I have installed: – Google Mobile – Must have – Box.net – Dropbox – Must have – Evernote – Docusign – Must have – if I could mark up Contracts on this, it would be nearly perfect. … I can’t get morning print delivery where I live, so this makes my annual subscription worthwhile. – NYTimes – BBC – Tweetdeck – Twitter – Friendly Plus (for Facebook) – Flud – Flipboard – CNN – CNBC – Angry Birds – Smurfs – Star Walk