In the interest of full disclosure, I will state that I am a marketing professional with several clients involved in the real estate industry here in Central Virginia. However, these are my individual comments, not theirs.

Yes, the market is different than a couple of years ago. Yes, our market is complicated and difficult to analyze. Yes, some people are not seeing the hefty profit margins on “flips” that they might have in 2004-2005. Yes, there is a decline in our market. However, it is one that I believe to be healthy, and given the right education of the consumer and real estate professional, Central Virginia will weather this small storm and continue with our ever-increasing property values and attractive living.

My conversations with real estate professionals on all sides of real estate transactions indicate that the market here is not experiencing a “bust” nor is everyone going out of the business. In fact, several agents I know are really busy and are closing business at nearly the same rate as they were last year.

I believe it to be somewhat irresponsible and unhelpful of the national groups to release reports of doom and gloom that do not apply to every market and are detrimental to their members’ business.

Concerning real estate here in Central VA, I urge people to talk with qualified experts in OUR area – don’t just rely upon national press to assess our market.

Desktop Underwriter®(DU®) Q9. What is the new DU message for properties located in declining markets? The text of the DU message is as follows: “The subject property has been identified as being located in either an area of declining home prices or in an area where it may be difficult to assess home values.”

To be fair to the caller, to the marketplace and its consumers, it may appear to be declining, but further analysis is always required. Condo conversions and a glut of new construction (among other factors) affect the median price reported.

Regarding the last place finish in the Charlottesville MSA in disparity of percentage of high cost loans between African American and white mortgage borrowers, the issue is complicated. One statistic that did not receive attention is that four areas in Virginia fell in the top 30. As I indicated on the program, the Commonwealth could and should enact laws that provide protection for the home buyer/owner, including loan officer licensure, bricks and mortar requirement and tougher enforcement of violations. This will limit abuses by out of state predatory lenders. No doubt, there is some racism in these numbers that our community will have to address also.