Charlottesville's Real Estate Blog. Buyer &/or Seller Representation, Real Estate News
There are now two ways for a buyer to terminate a Contract with no cause. Since I started in 2001, the buyer has been able to terminate a contract based on the HOA documents – buyers have three days to review the HOA documents.
A few months ago the Virginia Association of Realtors released a new home inspection contingency form.
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.
Great story by Sean Tubbs with Charlottesville Tomorrow
Anderson’s Carriage Food House on Barracks Road and C’Ville Market on Carlton Avenue both closed for the final time on Friday, with managers of each store citing tough competition as one reason for going out of business.
Nice usage of “-monger” in the story, too.
Homogenization is not what makes Charlottesville special; but that’s economics.
June’s monthly note begins (really, it begins a day or two after I publish last month’s note and takes shape around now-ish).
The working outline (for now) is coming together.
I have one or two other ideas to include and will likely pull out one or two included in the outline above. Notably, one of the most popular sections/segments/topics is the blog recap, in which I summarize the better of the previous month’s blog posts, both here and for RealCrozetVA. Either way, I’m looking forward to writing this month’s note.
Interested? Two easy clicks here and I’ll send you June’s note when it’s published. Usually the notes are no more than 1500 words. If you do choose to subscribe, you’ll be in great company; my mom usually likes my notes.
Smart, growing, innovative companies doing cool stuff benefit everyone.
Their new space is in the old Martha Jefferson building, sharing space with CFA Institute, another anchor to Downtown Charlottesville and the greater Charlottesville economy.
29 is changing. What’s that mean?
– Lots of money is going to be spent.
– 29 is going to be more challenging for a number of years.
– Hopefully things will be better and more efficient when they’re finished.
– Page 6 of this PDF shows the roads that will touched by the $203 million – Hillsdale, Berkmar, 29 North, Rio, Hydraulic and the Best Buy ramp. Plus funding for Amtrak to DC (which I think is super-cool).
– The segmentation of Charlottesville – Albemarle will continue (more).
K. Burnell Evans reports that: (read the whole thing)
Albemarle County supervisors decided Tuesday to back a $203-million plan to address congestion and mobility on Albemarle County’s main artery.
Two hundred and three million dollars. To fix 29 North.
If you’re curious to learn more:
– Download the PDF of the final proposed plan.
– Read the thoughts at the Free Enterprise Forum.
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.