Comments on: 30% “Discounts” on Condos in Charlottesville

By: Updated Market Report for Charlottesville Region | Real Central VA

Updated Market Report for Charlottesville Region | Real Central VA — Thu, 09 Oct 2008 11:02:06 +0000

[...] See this post for an example of why the data cannot necessarily be trusted, but that it does provide a fairly [...]

By: (edited) Anonymous

(edited) Anonymous — Mon, 06 Oct 2008 01:36:24 +0000

Dave,
You did such a good job in last week’s Daily Progress. Glad to see you’re still up for some impressive public speakin’.

By: Jim Duncan

Jim Duncan — Fri, 03 Oct 2008 14:20:27 +0000

RvR –

Sorry for the delay in responding.

I see this as meaning at least a couple of things –

1 – Solid buyers are recognizing the blood in the water as opportunity.
2 – Those who purchased these condos in the past 12 months likely have just seen their properties “lose” value.
3 – Take a look at the recent solds there –
3b – For example – what if you were one of the people who bought a 535 square foot condo for $135k and you just saw one sell for $101k?

By: RvR

RvR — Wed, 01 Oct 2008 18:17:10 +0000

I’m dense (and not a real estate professional). What’s the trend? The discount off listing prices, the mysteries of the MLS . . .

By: Pavel

Pavel — Wed, 01 Oct 2008 00:47:30 +0000

Cash is king for condos. Many are getting very hard to purchase without a substantial down payment. 1800 JPA’s location is prime – so close to the new SouthLawn Project.

By: Dave Phillips

Dave Phillips — Tue, 30 Sep 2008 21:46:03 +0000

Who you callin dense? I resemble that remark.

By: Charleston real estate blog

Charleston real estate blog — Tue, 30 Sep 2008 20:18:37 +0000

Jim, that’s why information is deemed reliable but not guaranteed (even when you know the information is not accurate, it’s deemed reliable). But why wouldn’t they enter and close the listings on the same day and price the listings at the sold price. Of course, that would also skew the data as full price sales. Oh well.

By the way, I love the new look.