Blogging’s effects and impact on my business
This post over at David St. Lawrence’s site compelled me to write this post. (I showed his house the other day, it is beautiful, but just not right for my clients)
He says, in part:
After two full years of continuous blogging, I am more imbued with enthusiasm about life than when I started. I think this is because I am allowed and encouraged to communicate my ideas with more people than ever before.
One of the most important comments he makes is this:
I get almost instantaneous feedback on how valuable or confusing my communication seems to readers. As a result, I am driven to communicate more effectively.
I have been blogging for almost a year, and my blog has evolved from this to what you see today. Before I started blogging, there was a void in my life. I was an editorial writer and editor in college. Expressing my thoughts and opinions is part of who I am. Rather than wearing down my wife on a daily basis, I turned to blogging. I have an outlet. Constant writing and critical and creative thinking forces me to 1) develop my skills as a writer and 2) be and project myself as being, a (the?) local expert in my profession. I live and breathe real estate on a daily basis, and have for most of my life. There is much more than simply buying and selling. Nuances that normally would not be picked up are highlighted through daily reflection. Analyzing this business and industry makes me better at what I do; I am healthier in many ways thanks to this blog. I aim to continue.
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Due Diligence
Do your due diligence prior to closing on any property. Ensure that the data you are provided is accurate. MLS listings say at the bottom of every page, “Information deemed reliable but not guaranteed.” This is an important statement that is often overlooked in the Purchasers’ (and often enough, the Realtors’) zeal to get to Contract and Close. While most do their best to provide the best and most accurate information, mistakes happen.
Verify property lines. Verify that the train “doesn’t run after 11pm” (I have actually heard that one from an unwitting Purchaser - after closing!). Make sure that DSL or Cable actually run to the house. To whom does the liquid propane tank belong? In general, ask those questions … just to make sure.
CharlAlbemarle’s water supply
Charlottesville Tomorrow has an excellent summary and podcast about last night’s Public Outreach meeting held by the RWSA. That they are holding these meetings shows how far they have come since Tom Frederick took the helm.
Bill Emory notes:
RWSA has taken the community input about the water source and they are acting to realize the vision! The vision is one of stewardship, living within the means provided by our watershed. I am cautiously optimistic.
Optimism is a good thing, something that is typically lacking when one references government entities. Charlottesville Tomorrow’s blog is fast becoming almost a one-stop shop regarding local government. In time, I would like to see the local governments podcast much of their Planning Commission meeting, BoS meetings, City Council, etc. The quick progress that Cville Tomorrow is making is an excellent sign.
As always, stay informed. The water debate is a sign of the public actually being heard and making a difference.
My own personal spam.
I received the following this morning … apparently from myself. At least one other person (a lender with whom I work), kindly emailed me declining “my” request. No one yet has send me their particulars, but I continue to wait in anxious anticipation.
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Open House in Crozet this weekend.
I rarely do Public open houses because I think that they are more of an opportunity for the agent to gain buyers rather than actually sell the house. Selling open houses to clients as an efficient way to market their home seems disingenuous.
However, this weekend I will be holding 720 Grayrock Drive open from 1 until 4pm, as the timing works out well for me and for my sellers. I am trying to continue my focus on the Crozet market so please stop by; this house is beautiful inside and out.
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3rd Quarter Housing numbers
CAAR released the 3rd quarter Market Report earlier this week. I posted my own analysis a bit earlier this month. Bear in mind that the MLS does not contain 100% of the properties on the market, but certainly enough to gain significant insight into the market.
A couple of interesting paragraphs that summarize our market follow -
Inventory:
As of mid-October, 2005, our database has 1,681 homes actively listed for sale. That is an increase of 313 more homes on the market than the previous quarter and nearly 500 more than the beginning of the year. We can expect around 300 homes to be purchased in October. That means that there are roughly 5.6 homes available for every buyer in the entire market area. That is the highest number we have seen in several years. While this higher inventory will cause a minor slow down the pace of price increases, we are still 20-30% down in inventory compared to the mid-1990’s. It will take a few more quarters of major increases before we will see a significant effect on the market. (bolding mine)
Transactions:
Third Quarter 2005
Area Total Sales Compared to 2004 % Increase/Decrease
Albemarle 542 -12 -2.2%
Charlottesville 156 +2 +1.3%
Fluvanna 183 -8 -4.2%
Greene 85 -6 -6.6%
Louisa 54 +3 +5.9%
Nelson 106 -19 -15.2%
The market is shifting to a healthier market. A return to a more sustainable market is a good thing.
Update 30 October 2005: The Daily Progress has a front-page article about the affordability crisis our region (and nation) face. There is a good discussion at cvillenews about affordability as well. The front page of the Business section has a article focusing on the slowdown our market is seeing. If they post a link to the article, I will note it (in part because I am quoted a couple of times).
November Forum Watch
The Free Enterprise Forum has released its monthly Forum Watch. This is one of the best ways to stay abreast of local government issues.
Exactly what our region needs - more high end homes.
From today’s DP -
Greene County supervisors on Tuesday opened the door for a new high-end neighborhood in Ruckersville. … The 40 new one- and two-story houses likely will cost between $430,000 and $450,000 - a price range that would cover most county service costs, developer Barry Dofflemyer said. In addition, the company will give the county $2,000 in proffers for each house built.
… As for the proffers, Dofflemyer doubled the amount per home from $1,000 to $2,000. (bolding mine)
Regarding the question of proffers - is $2,000 a number that is deemed to be sufficient for these houses to integrate into the community? That number seems to me to be fairly arbitrary. The cost per student in the County schools is probably at least $5,000 per annum; a one-time proffer of $2,000 is supposed to cover the cost of students? If $2,000 is all that the County will require, that is fine, but selling the proffer as a major concession that will cover most costs - that strikes me as disingenuous. Think of the school costs, water costs, transportation, etc. I would like to see what studies the County and developer are using to come up with the $2,000 number. I love being proven wrong.
Update: from an offline commenter:
I think it is important to note (as the supes did in their meeting) at $450,000 the county generates significant additional revenue beyond the educational cost impacts. The developer provided financial models based on .8, 1.8 and 2 children per home and all were a net positive.
Every county has a break even point for cost of a home and services provided. Greene County does not have a proffer program yet (they are working on the CIP now). This was truly a voluntary proffer.
This was interesting and pertinent regarding the impending Albemarle County BoS elections.
Greene likely will be the home for most of Dofflemyer’s future projects, he said, because Albemarle County has become a difficult place for a small developer to work.
Where do you think these new homeowners will work? The argument for planning for mass transit get stronger.
Technorati Tags: Central Virginia, growth
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