Posts tagged 22932

Talking about the Charlottesville Real Estate Market – WNRN Radio 9 January 2011

in General Real Estate Shameless Self Promotion on

If you are interested in – whether from a buyer, seller, voyeur, moving to Charlottesville perspective, I highly encourage you to listen to this hour of radio Matt Hodges and me as we discuss the Charlottesville real estate market, national trends affecting all of us, and what the conversation may mean to you, the real estate consumer. … Some of the stories to come: One of the best parts of doing radio shows is that I always generate new ideas to write about. – Top 10 most popular neighborhoods in the area; I’m finalizing the methodology for how this will be determined, so I won’t promise the publication date. – An expansion on the nomadic class. – The internet’s/telecommuting’s impact on attracting people to the Charlottesville area. … Title issues, conveyance of title, property ownership – I think this is going to be a huge story in 2011. – Mobility – many of today’s potential homeowners are choosing to not buy because they want to have options. – QE2 – DIA and NGIC – their impact on the Charlottesville real estate market; in short, they they provided a stabilizing force. – Loan Level Pricing Adjustments – what does this mean to homebuyers?

…Charlottesville Foreclosure Rate and Foreclosure Activity Information | thanks to RealtyTrac – Foreclosure rate for the Charlottesville MSA – Majority of Virginians oppose gas-tax increase – Town hall to discuss Hollymead development area expansion – Realtors’ response to Mortgage Interest Deduction – Commentary: Mortgage Interest and Real Estate Tax Deduction Facts – Facing Scrutiny, Banks Slow Pace of Foreclosures – Homeownership is not a must .

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Holiday Things to do in Charlottesville

in Charlottesville on

From a client:

Was wondering if you could recommend someplace to cut-your-own Christmas tree farm? Also, where would a cute little 4yr old boy find Santa in C’ville? Lastly, any Christmas activites/events that are a must go to??

I’m wondering, too – where is the best “real” Santa in the Charlottesville area?

There are so many options, too many really, so here are a few of my picks –

(( Update 29 October 2012: I’ll be updating this post in about a month with events for 2012 ))

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Can Crozet have Three Centers?

in Albemarle Growth Politics on

Downtown Crozet needs to do something to combat the challenges put forth by: – The 250 West Corridor – Anytime Fitness, Harris Teeter, medical and dental offices, restaurants, office space … residential housing … – Old Trail Village – ACAC Fitness, Trailside Coffee, restaurants, Augusta Medical facility, Advanced Center for Physical Therapy (awesome place – they helped me rehab my ankle after a soccer injury) … residential housing in Old Trail Village .

…A group that oversees planning in Crozet has endorsed a new concept to redevelop a lumber yard on the Square into a walkable and livable community similar to Charlottesville’s Downtown Mall. 


…“This is a very small scale, a version of that, but what it does create is the ability to have a gathering space and some place where people love to go [in] Crozet.” 
… “From [research and development] business to office space, restaurants, retail [and] some housing,” Roell said, “it will provide a variety of opportunities for people to locate their businesses, live, work, play and entertain each other.”

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When Evaluating the Charlottesville Real Estate Market, IGNORE National Data

in Market statistics on

Take your lede : – Home sales up 14% in Charlottesville and Albemarle year over year. – Home sales up 19% in Charlottesville MSA year over year. – Foreclosures continue to climb in Charlottesville and Albemarle. – Questions abound regarding second half of 2010; where will we find the bottom of the market? – If you have questions about or would like more detailed analysis, please contact me.

…Simple (though notsoumuch in reality) What I’m reading: – Harvard’s State of the Nation’s Housing Market (PDF) and listening to an excellent podcast with Nicholas Retsinas , Director, Harvard University’s Joint Center for Housing Studies . (did you know that there was an exhibit at the Smithsonian on McMansions ?) – Core Logic’s Home Price Index Report for April 2010 – Virginia’s Housing Price Index, for single family homes year-over-year, is up 6.5%; for single family homes excluding distressed properties, is up 3.6%. Virginia is one of the five best states for year-over-year price appreciation excluding distressed sales .. but mostly that’s irrelevant in my opinion as the bulk of those sales are most likely comprised of Northern Virginia sales. – The Federal Housing Finance Agency’s House Price Index for First Quarter 2010 The FHFA (formerly OFHEO) say that in the Charlottesville MSA house prices have dropped 6.98% year over year, 1.86& in the 1st Quarter 2010, and have appreciated 12.68% over the past 5 years .

… Home Sales are Up 19% year over year in the Charlottesville MSA: Sales are up in Charlottesville MSA Year over year.jpg Homes sales are UP 14% in Charlottesville and Albemarle : Home Sales UP in Charlottesville and Albemarle - 2010 versus 2009.jpg One point: Charlottesville’s Unemployment is lower than the national average. Charlottesville's Unemployment is lower than the national average. Prime example of the irrelevance of national, aggregate housing data, which is good only for political talking points and respective agendas: Foreclosure starts for the nation and Charlottesville and Albemarle: National foreclosure data, courtesy of the HUD Scorecard, using RealtyTrac data: National Foreclosure data - Mildly irrelevant For Charlottesville, using RealtyTrac : Charlottesville Foreclosure Rate and Foreclosure Activity Information - may 2010 For Albemarle County, using RealtyTrac: Albemarle County Foreclosure Rate and Foreclosure Activity Information - Trends Albemarle County Foreclosure Rate and Foreclosure Activity Information - May 2010 What have median home prices done in Charlottesville over the past five years?

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Dealing with Home Buyers’ New Psychology

in Buyers Market statistics Sellers on

When we started, we were looking at new construction, and I had to tell them that whatever they wanted changed would have to be done by them, at their expense after closing, as the builders were not going to make any concessions or alterations. … That’s a difference that matters – both to actual sales numbers and perceived sales numbers – to the market’s collective psyche, if you will. See for yourself (PDF). Add to this the fact that the average Days on Market in May 2006 was 69 and the average Days on Market in May 2010 is 106 and the market rightfully feels slower.

…Many Sellers don’t want to “give their homes away” (hint: price your home to sell from Day One ) and many Buyers want to feel like they get a “deal” and many buyers have unreasonable expectations – resale homes are used homes; they are not new construction.

…They also are prepared to walk away if things don’t go their way – there will be another house that suits their needs and wants; five or six years ago, another house would come on the market, but it would probably have been more expensive.

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Old Trail Sales Up Year over Year. Really.

in General Real Estate on

Inspired by this article in the Crozet Gazette , NBC 29 reported yesterday that home sales in Old Trail Village are up significantly this year . It’s not spin , it’s true , backed by data (see below). I have clients who saw the value in Old Trail (and I’d like to have more 🙂 ) I’m through Old Trail nearly every day and I have been tracking the progress made on the townhomes built by Craig Builders … I find new construction – the pace, the timeline, the fact that a bazillion pieces get put together and they happen to result in a house – fascinating.

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