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 …
Technorati Tags: albemarle, charlalbemarle, charlottesville, growth
Myths about Suburbia and our car-happy culture
Technorati Tags: sprawl
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. This development is representative of the relationship between the City of Charlottesville and County of Albemarle - one of symbiosis. 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 - some 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 homes
Topography - 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. The neighborhood gives those who work at the hospitals easy access.
Here are a three homes in Willoughby that are currently on the market.
Read about all the neighborhoods covered so far in this series here
Technorati Tags: albemarle, charlalbemarle, charlottesville
Homes are selling in Charlottesville!
Believe it or not, houses are selling in the Charlottesville area. 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 contract
**This post was inspired by my clients whom I showed around this weekend. Their question: “How many properties come on the market?” 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. Properties are in fact selling. Believe it or not.
**Source: CAAR
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Green homes = common sense
More and more, people are recognizing the value of common sense. Yesterday brought two articles from national media. Why is this green movement going to last?
The Wall Street Journal (temp permanent 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.
Moving from materials to other aspects of green building, Johnston talked about household energy use. His common-sense rule: Use as little as possible. His common-sense reason: It helps save money and the planet. If you use less energy, you will save on your utility bills. You will save even more as the price of natural gas, fuel oil and electricity inevitably go up.
Green 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. Every step forward is a good one.
I wonder if Mr. “Two Americas” Edwards’ new home is green.
More on what I have written in the “green” category here.
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Home sales are down - and up
New-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.
Technorati Tags: real estate, realtor
Disclosures versus Disclaimers - caveat emptor to a lesser degree
What’s the difference? Why choose one over the other? Soon, this question may be moot, as there is a bill in the General Assembly (HB 2011) that will essentially combine the two forms. For as long as I have been in the business, we have had two forms from which to choose a Disclosure and a Disclaimer. Keep in mind that Virginia is a caveat emptor state.
A Disclaimer is exactly that, it is a form that states:
… that the owner makes no representations or warranties as to the condition of the property, except as otherwise provided in the disclaimer statement or the purchase contract.
As part of the Disclaimer, the owner chooses to:
… sell the property without representations and warranties as to its conditions …
And the Purchaser agrees to accept the property in this condition … subject to negotiations that emanate from the home inspection.
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?) Realtors.
*In my opinion, choosing a Disclosure may open Sellers up to more potential liability (note: I am not an attorney!). In this day and age, whereby very few accept responsibility for their decisions, and litigation (and settlements) are often seen as the shortest point between A and B, a Disclaimer is the safest route. For example, if a Seller were to choose a Disclosure, and on that Disclosure they noted that the HVAC worked, and three days after closing, the HVAC dies … the Buyer may assume that the Seller knew that the HVAC was bad, when in fact, it was working fine and it just happened to die. What do you think the Purchaser would do in that situation?
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. “A disclaimer is not a free ticket,” Ramsey says.
And if realtors have actual knowledge of adverse material defects of a property, they must reveal them. “Realtors shouldn’t stick their heads in the sand regarding the condition of the property,” he says.
If nothing else, ALWAYS do a home inspection. I am proud of the fact that every single one of my buyers have chosen to have a home inspection; it is perhaps the best $300-$500 you will ever spend.
Buyers and Sellers would do well to read this bill.
Technorati Tags: virginia, real estate, realtor
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