Posts tagged 22901

Engaging with Albemarle County

in Albemarle Growth Politics on

An easy way to learn about and engage with Albemarle County – Engage Albemarle.

Here’s an interesting topic:

The Comprehensive Plan is Albemarle County’s most important document regarding growth, development and change. It establishes government policy to help guide public and private activities as they relate to land use and resource utilization. What general thoughts would you like to share about the Comprehensive Plan as it is being reviewed by the Board of Supervisors this summer and fall?

Better to express your opinion now in the hopes the Comp Plan can be altered than complain about the decisions that have already been made.

What would be helpful would be if the County would identify which specific parts of the Comp Plan are, or are likely to be, up for debate/discussion – in the Housing section, for example (pdf).

Read More

Homes sold through June 30 in Charlottesville and Albemarle

Prepping for Mid-Year 2014 Market Update

in Albemarle on

Looking briefly at the homes that have gone under contract in Albemarle and Charlottesville from 1 January to 30 June (June’s not yet over as of this writing) and if you do the math, you’ll see that this year’s market is (broadly) moving a bit faster than last year’s. I’m looking forward to digging into the numbers.

Halfway through 2014 and the market remains odd. Low inventory in some market segments, high inventory in others, houses hitting the market prior to hitting the MLS more often than I’ve ever seen, new construction prices increasing rapidly, new developments selling like crazy, and I’m starting to look at data to figure out what the market’s been doing.

Here’s a little bit of data looking at some price range statistics for Charlottesville and Albemarle so far this year – June 2014.

Questions, comments about the market? Let me know.

Read More

Monday Reading – 16 June 2014

in Albemarle Charlottesville General Real Estate on

– This should be required reading – 8 Surprise expenses for homeowners. Changing locks, pest control … in something as rare as a purple dinosaur eating a banana in the middle of a soccer stadium talking on a cell phone, many of the comments are useful.

– City of Charlottesville City Council will discuss Belmont Bridge and the Albemarle Planning Commission will discuss downtown Crozet’s possible renovation, among other big meetings.

– This part of the conceptual plan for West Main Street is absurd:

Another change that the street could see is the addition of elevated and protected bicycle lanes on both sides of the road. Providing bike lanes that are protected from on-street parking could help to reduce the number of bicycle accidents that have occurred along the road.

“The bike lanes will probably mostly be used by people who are tootling along, a little slower, maybe have children on bikes, and it’s a safer environment,” said committee member Rachel Lloyd. “People who are really moving can go in the vehicular lanes.”

Instead of elevated bike lanes, why not protected ones?

– There is so much to the pocket listing conversation; it’s fascinating that Colorado’s Real Estate Commission may be entering the fray. I wrote about pocket listings last year and earlier this year in my note.

– Creepy. What data brokers know about you. One day soon, this will (openly) affect lending.

– This is a really interesting conversation on “what businesses should come to Crozet?” I missed the opportunity to better define the question – what anchor industries should come to Crozet? but the discussion was great all the same. Lots and lots of Facebook comments, too.

– With clients yesterday, we debated whether the folks who designed Stonefield were drunk or high. We concluded they were probably both.

Read More

How do I know I’m Getting the Best Deal (on a loan)

in Charlottesville General Real Estate on

Shopping for a loan is hard. Comparing loan terms and offers can be harder. When I recommend a lender, there is an incredible amount of conveyed trust in that recommendation.

A client asked me the other day –

“How do I know who has the best terms?”

So naturally I asked a lender I trust for his answer.

Matt Hodges with Presidential Mortgage wrote:

Well, there’s the following:

1. Rate & points & fees & lock in time frames

2.  Meeting commitment/close dates

3. Breadth of products

4. Uniqueness of products – i.e. closing prior to starting your job, gift for 100% of down payment, 100% LTV deals, etc.

We all should be .125% in rate apart on any given day, but you might see outliers.  For example, I had a rate shopper asking for a conventional 20 year loan and I was able to quote 3.875%, and no one else was better than 4% and some were higher than that.  There are a few exceptions to that pricing point, but in general it’s the value a loan officer brings to the picture to get to the finish line with the least amount of upset and on time.

—–

I’d add to Matt’s last sentence with this: there is tremendous value in a lender (or any professional for that matter) who will:

– Foresee and anticipate problems

– Acknowledge problems

– Communicate problems

– If it’s their mistake, own the mistake and …

– Fix the problems

Also. I like local lenders; as a buyer’s agent, they make me immensely more comfortable. As a listing agent, I value a local lender (whom I know to be good) tremendously – and convey that to my clients.

Read More

What is the value of a Greenway?

in Albemarle Charlottesville Transportation on

Bikes on a deck in Charlottesville

What is the value of a green way to a buyer in today’s market?

Had an interesting conversation this morning in the Crozet Mudhouse with someone who was noting that the attitude shift toward greenways has shifted significantly in the past 10 years or so.

It used to be that real estate agents and developers and even buyers placed little to no value in having access to a means of passage that was not centered around an automobile.

Today, that attitude has shifted 180°.

Access to bike paths or suitable walking trails (for strollers) is an enormous asset. through my admittedly myopic view as seen through the eyes of my buyer clients who are seeking such access and proximity, and through the eyes of my seller clients who are advocating for the benefits of such access, I would say that the world has shifted in this respect.

In the Charlottesville Albemarle area my view is that the City of Charlottesville is fairly well poised to design and build more greenways and bike paths (hint: West Main). The County of Albemarle needs more will and more money. And they both need to work together to have the respective systems work together.

Worth noting is that the departments within the respective localities are filled with remarkable people doing remarkable work.

The market wants these things.

Read More