Posts tagged Albemarle

Local Government Reading this Week – What Matters to Homeowners in Central Virginia

in Albemarle Charlottesville on

– City of Charlottesville School consolidation plan could mean tax hike – Daily Progress The city School Board voted Thursday night to consolidate Walker and Buford, the first large-scale change approved for the city’s public school system since the current configuration went into effect in 1988.

… What role, if any, should government have with respect to ensuring that our schools are high quality and are boons for economic development? – I’m kind of shocked that there are no comments on this piece in the Daily Progress, Will city-county tensions hurt residents of both? … Property taxes provide the bulk of the budget for the respective school systems, and school systems’ quality directly impacts property values . ( as discussed on RealCentralVA a few months ago ) The process of reassessing Nelson County property values for real estate tax purposes has begun again. … The relationship between the City of Charlottesville and the County of Albemarle is akin to that of divorced parents who really kind of hate each other but are able to keep it together justenough to keep the kids fed.

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Charlottesville and Albemarle Need to Stabilize Population?

in Albemarle Charlottesville Growth Politics on

ASAP says their research at this point is still insufficient to identify a specific optimal population for the community. However, faced with a limited supply of natural resources, Marshall said housing is the key piece of community infrastructure that needs to be limited to reduce demand.

I’m sure that Fluvanna, Greene, Nelson, Louisa and the other surrounding counties would love to have Charlottesville/Albemarle place caps on housing starts. … CharlAlbemarle would then have traffic coming into the urban ring without the benefit of property taxes (which don’t cover the cost of housing). – How does one define “optimum population” and what are the consequences for exceeding said optimum population ? – Maybe we could also institute congestion pricing as they have in London (really not a bad idea) instead of a moat. – Would we restrict services to residents if they weren’t in the urban ring and didn’t pay a fire or rescue fee ?

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Bicycle Safety Discussion Next Week

in Transportation on

To continue the momentum created by the Citizen’s Bike Safety Committee established by the City this year, the City of Charlottesville, in partnership with Bike Charlottesville, will hold a community discussion on Wednesday, October 20th beginning at 7pm at CitySpace in the Market Street Parking Garage downtown.

I’d also like to see discussions about bike helmets, like this one at the WSJ .

Wouldn’t it be nice if the County of Albemarle and the University of Virginia participated in the conversation as well? I do particularly like this helmet , though. yakkay -helmet.jpg

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FHA Increases – Buying a Home Is Now More Expensive

in Albemarle Charlottesville General Real Estate on

Effective for FHA loans for which the case number is assigned on or after October 4, 2010, FHA upfront and annual MIP will change as follows:    – Upfront MIP –    1.00% on ALL mortgage terms (from 2.25%)
…    – Annual MIP –      0.85% for LTVs less than or equal to 95% and terms of more than 15yrs (from .50%) * No Change in Annual MIP for <=15yr Terms (No Annual MI) In general, monthly payments are going to INCREASE due to the higher annual MI payment. ** LTV = Loan to Value (the above was sent along by Jason Crigler with Crown Mortgage ) Keep in mind that the FHA loan limits for the Charlottesville MSA are: Single Family/Attached – $437,000 Two family – $559,450 Three Family – $676,200 Four Family – $840,400 For an example of what these increases mean you homebuyers in Charlottesville, I’m going to borrow Rhonda Porter’s math : Using an interest rate of 4.25% and a based loan amount of $400,000; it looks like this: FHA Case Number BEFORE September 7 October 10, 2010:

… $400,000 plus $4,000 = $404,000 amortized for 30 years at 4.25% = principal and interest of $1,987.44 plus the annual mortgage insurance of $300 = $2,287.44.

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Showed Houses in Charlottesville Last Week -or- Why AVMs Suck

in Albemarle Charlottesville General Real Estate Technology on

Zillow hasn’t been in the three townhomes in another neighborhood in Charlottesville , one of which needs to be gutted, one with a moist basement and mold coming on a piece of ceiling hanging from the bathroom and another one that absolutely needs to be taken to the studs.

…The product of an automated valuation technology analysis, public record data, and computer decision logic combined to provide a logical calculated estimate of a probable selling price of a residential property. … An AVM typically includes:   â–ª An indicative market value for many residential properties nationwide.   â–ª The Tax assessor’s indication of value, if available.   â–ª Information on a subject property and recent sales history.   â–ª Comparable Sales analysis of like properties.

…Cyberhomes puts it at $184,842 , the price range is $166,357 – $212,568: Realtor.com – You have to agree to have a Realtor contact you to provide the report.

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