Monthly Archives: January 2007
How much do realitors make?
It’s Real-tor! Two syllables. Write it down.* Courtesy of a search query this morning for “How much do realitors make?”Answer: more than some, less than others. It depends.
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Where’s the development in Albemarle?
C-Ville has a little Java-based map that will graphically show you. Pretty neat. If only one could drill down beyond the top layer …
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Myths about Suburbia and our car-happy culture
Via Buzz-Tracker.
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Charlottesville Neighborhoods – Willoughby
Willoughby – located in the southern part of the City is the only development that I am immediately aware of that straddles the City of Charlottesville and County of Albemarle. This unique aspect necessitates a decidedly more deliberate verification of school districts, as many families are want for their children to be located in either City or County schools…. Individually, each is a fine product, but combined they are far better and more marketable.Architecture – traditional that one would expect of homes built in the mid-1980s and 1990s, all well-kept three- to four- bedrooms with average to large yards.Garages/Basements – about 20% of the homes here have garages, and/or basements. More have basements than garages.Home prices – generally range from ~$250k-$350k for single-family and $190-$230k for attached homesTopography – gently rolling hills with more trees than one will find in a new development that has been clear-cut and the landscape leveled.Location – for those who are seeking proximity to the Downtown Mall area (~1 mile) or any of the University of Virginia schools – UVA Medical Center, UVA Grounds, etc – (on average ~1-2 miles) this neighborhood offers an exceptional location for those who don’t mind a relatively short bike ride, with very few hills!From a current resident (not Resident as far as I am aware):In the 3-1/2 years we’ve been there, I’ve personally known at least two UVA-affiliated doctors who’ve bought and moved in. We’ve also had our law student move in this past summer.
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Homes are selling in Charlottesville!
It may not feel like it due to the significant amount of inventory currently on the market.Between 1 September 2006 and yesterday, 27 January 2007, 1188 properties were listed in the MLS (*975 of the properties listed in 06/07 were not condos and 958 listed in 05/06 were not condos).In that same time period in 2005-2006, 1260 properties were put on the market. Quite simply, homes are taking longer to sell; well-priced homes (priced well from Day 1) are selling. 340 properties were listed from 1/1/5-1/28/2005 and 193 went under contract.532 properties were listed from 1/1/6-1/28/2006 and 207 went under contract.441 properties were listed from 1/1/7-1/28/2007 and 116 went under contractMy fascination with numbers and data confounds me, as I was an English major and have always had an aversion to math…. translated to “How many properties come on the market in Charlottesville/Albemarle?**Doubly inspired to combat the perception that our market is dead in the water.
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Green homes = common sense
More and more, people are recognizing the value of common sense…. Why is this green movement going to last?The Wall Street Journal (temp free link here)Today, heating and cooling of homes accounts for about 20% of U.S. energy use, according to federal estimates, and the movement towards greener homes is likely to help curb the country’s emission of greenhouse gases, experts say. And a survey last year by McGraw-Hill Construction found that for the first time, a majority of U.S. builders said they planned to use green features in at least 16% of their homes by 2007 — in what NAHB officials call “a tipping point” in builders going green.Washington PostGreen building is fast becoming something that more and more builders are doing, because they are encouraged by the market’s demands. One local builder has recently discovered that most of his homes are in fact, close to Energy Star level and is working to make that extra push.
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Home sales are down – and up
Home sales plummet/tumbleNew-home sales rise to highest since April 2006. Seriously.Is there a turn-around imminent? Methinks we are making too much of too little; we won’t know what the market is doing until we can say with confidence what the market did.Perhaps the best analysis can be found at the Calculated Risk and the Big Picture.
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Disclosures versus Disclaimers – caveat emptor to a lesser degree
sell the property without representations and warranties as to its conditions …In six years, I have seen only one transaction with a Disclosure, and that was a corporate-owned relocation. The reasons for Sellers not electing to use Disclosures are varied – *The market has been so hot that, with Buyers waiving home inspections from time to time, there was no incentive to use Disclosures.*Using a Disclosure would confuse many (most?)… This is a pertinent article from the HooK in 2003, wherein Robert Ramsey, a prominent and well-respected Realtor was quoted:However, “Just because a seller chooses disclaimer doesn’t mean he can go around committing fraud,” warns Ramsey. “It doesn’t protect a seller who knows he has a terribly wet basement, waits until a drought year to sell, and paints the basement and puts in new carpet to hide the damage.”And while fraud is hard to prove, a disclaimer doesn’t mean the seller is immune from prosecution, nor does it prevent the buyer from suing.
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