Question to ask your Realtor
When interviewing your Buyer’s Agent, ask him/her whether he/she will accompany you for the home inspection. I had a “Buyer’s Agent” tell me today that he had left the home inspection because he had “better things to do” than stick around for a home inspection and that they were a “pain in the a**.” How does one represent a buyer when one has no idea what is being referenced in the home inspection report? Sadly, this was a “seasoned” agent rather than a newbie.
Update: The hardest negotiation I have ever done is with this “Realtor” who simply doesn’t care. How does one negotiate with apathy and disinterest?
Technorati Tags: buyers, real estate
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A thought on the Blogger’s Summit
Not real estate-related.
Correct me if I’m wrong, but the Sorensen Institute for Political Leadership is a moderately respected institution. They have put together a pretty impressive lineup of speakers. They are holding it at one of the premier facilities in the Commonwealth. They are charging only 50 bucks. And inviting everybody.
There has been an awful lot of discussion about who was consulted and who wasn’t. There’s more out there; just click around a bit.
What does one gain by choosing not to participate? One reason that people blog is to express voices and opinions. This second Summit is an opportunity to expand that voice, to expand and develop credibility and influence - to contribute. This is an opportunity to demonstrate that bloggers can rise above the typical partisan flaming that has created so much division and distrust in today’s political environment. To those who are going to stay away, I’m sorry. I’ll bet you would have been interesting in person.
For what it’s worth, my two favorite musings on the “situation” are Craig’s and Charles’.
Technorati Tags: blog summit, charlalbemarle, politics
Morning Links 30 May 2006
Energy Star @ Home (Treehugger) - With rising fuel costs, every penny saved counts!
The June Free Enterprise Forum Watch is out
Google is no longer my primary search
Excellent soccer observations - 9 days until the World Cup!
Is the Realtor bubble over?
Sent in by an alert reader who was visiting New York City.
My guess is that as the market slows, there will be reduction in the ranks of Realtors and real estate licensees. There is great comfort is receiving a salary.
Technorati Tags: real estate, realtor
What will it take?
An education. Talking to one of my clients last evening, discussing why his property has not yet sold, we discussed how I, despite having been in the business for almost five years (a grizzled veteran based on the number of new agents out there), have seen only the “boom” in the market. I have lived through the slower times, as both of my parents are Realtors, but have not experienced it first hand. During the last lull, the internet was not what it is today - what will the new market look like?
The farther backward you can look, the farther forward you are likely to see.
Winston Churchill (source)
Incentives are being offered that have not been seen before. Buyers’ agents commissions, incentives to pay buyers’ closing costs …
I now get several spams a week with incentives. This - from a national builder in the area (missing an apostrophe) -
From a local Realtor -
My sellers … are offering $3000 bonus to buyer’s agent. They will also pay $2000 toward buyer’s closing cost (w/ acceptable offer.)
This home is the BEST QUALITY HOME IN THIS PRICE RANGE (this was also 24 pt. font for emphasis)
Another national builder, not in this area,
… is offering a 4% broker/agent referral fee for the first customer, 5% for the second customer and 6% for the third, fourth, fifth …
One local seller is offering with their house … “A brand new (almost) CAR!”
Is red really an inviting color with positive connotations?
Technorati Tags: real estate, buyers, charlalbemarle
Friday links
How can house prices be going up when population is going down?
Buyer-Agent bonuses - As the market shifts, I predict we are going to see much more incentives, both for buyers and agents.
And you were wondering about Fannie Mae?
Roundabout in Ivy
Following up on the Hook’s report in March, WINA notes today that:
(Supervisor Sally Thomas) believes a roundabout might work at the intersection of Owensville Road, Morgantown Road, and 250 West. Thomas contends a roundabout is a good idea when roads at an interchange, such as those three, don’t align themselves precisely.
The data from VDOT (please excuse my lack of possible correct data interpretation) shows that Ivy Road has 46,000 vehicle trips a day. Unfortunately, I could not find specific data showing how many vehicle trips the roundabout at the airport manages (which Sup. Thomas cites as the successful reference), but I cannot believe that it is anywhere near 46,000. If Crozet does end up growing to 12,000 (or 24,000) people and the speed limit through Ivy is (if I recall correctly) 35 MPH, how big would this roundabout have to be?
Below is a picture of “The greatest roundabout ever built in the US. It carries up to 58,000 vehicles per day and 8,000 pedestrians per day.” That looks a little bit bigger than Ivy.
Bacon’s Rebellion loves roundabouts.
Disclaimer: I am not a traffic engineer, nor do I play one on TV. I do drive Ivy Road at least twice a day (four times today).
Note: How does this impact real estate, the primary function for this blog? It impacts quality of life and the desirability of an area - thus, property values.
Technorati Tags: charlalbemarle, transportation
What happens after the Baby Boomers?
What happens after the Baby Boomers? There is an awful lot of discussion about the impending retirement of the Baby Boomer generation and the impact that they are and will continue to have on the real estate market. I noted it here a little while ago. The CharlAlbemarle area has very little housing that is suitable (mostly single-level living, Universal Design, (and here) conveniently located near efficient public transport) for the 55+ crowd. One of the only single-family developments (condos excluded) designed for retiring baby boomers is at least 20 minutes north of the City - with no public transportation at all.
All housing has a life-cycle. Look at the older, tree-lined streets in the City and the urban ring. Many of these neighborhoods are experiencing turnover for the first time in at least thirty years. While the houses may not suit today’s lifestyles - open floorplans and kitchens, master suites, at least 2300 finished square feet - they have that other major criterion - Location.
What will the landscape look like in thirty or forty years when these now new developments (I am reluctant to call some of these new incarnations “neighborhoods” just yet) start to experience their own turnover? Who will buy these houses?
The current trend for Gens X and Y is toward smaller, smarter spaces rather than large, sprawling McMansions plopped into a field somewhere. This seems to me to be two incompatible trends poised to collide at some point.
Three out of five (baby boomers) say their idea of the perfect location to retire is in a rural area or small town, with only 12 percent saying an urban or city setting, and nearly half would consider living in an age-restricted community; 38 percent want to be close to family.
If money were no object, access to quality health care is important to more Boomers than being on a golf course (38 percent vs. 4 percent). Ideally, they would like to live in a rural area with access to quality health care. “One question is how many areas actually offer those kinds of amenities in that kind of environment,” Stevens said.
CharlAlbemarle has the health care, the quality environment, the dynamic lifestyle … and golf courses. For how long?
Note: this post was partially inspired by an excellent post at Matrix.
Technorati Tags: real estate, Gen X, Gen Y, baby boomers, trends
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