Date Archives December 2009

Strategic Defaults – Wrap up from last weekend

I think we’re going to see more and more of these so-called strategic defaults in the Charlottesville area. … I hate being a cop-out, but I’ll stick with my standard answer of “we’re not going to know how good or how bad the Charlottesville real estate market is until we have the benefit of hindsight.” Suffice it to say, I suspect we’ll see more of these so-called “strategic defaults” in 2010.

… Part 1- Quick Update on the Charlottesville Real Estate Market Part 2 – Short sales and Foreclosures in Charlottesville Part 3 – Homebuyer tax credit in 2010 – Who’s Eligible?

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Green – It’s about Saving Money

While by no means a comprehensive list, some of the green homes in Charlottesville can be found in the following neighborhoods: – Belvedere – Old Trail – Westhall – Wickham Pond – Avon Park – Poplar Glen – Montgomery Ridge The Code of the Commonwealth of Virginia allows for :

…Energy-efficient buildings, not including the real estate or land on which they are located, are hereby declared to be a separate class of property and shall constitute a classification for local taxation separate from other classifications of real property. The governing body of any county, city, or town may, by ordinance, levy a tax on the value of such buildings at a different rate from that of tax levied on other real property.

…Energy-efficient building certification for purposes of this subsection shall be determined by any qualified architect, professional engineer, or licensed contractor who is not related to the taxpayer and who shall certify to the taxpayer that he or she has qualifications to provide the certification. — Part 1- Quick Update on the Charlottesville Real Estate Market Part 2 – Short sales and Foreclosures in Charlottesville Part 3 – Homebuyer tax credit in 2010 – Who’s Eligible?

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Biscuit Run is Sold to State to Become State Park

Kaine today announced the purchase of approximately 1,200 acres in Albemarle County known as “Biscuit Run” to be held by the state as a site for a future state park. “When developed as a state park, this extraordinary piece of land will benefit the citizens of Albemarle, Charlottesville and the Commonwealth for recreation, natural resource protection and the preservation of open space in a fast growing area,” Governor Kaine said. … “This is a once-in-a-lifetime opportunity for the state to acquire such a valuable property which offers spectacular mountain views, abundant flora and fauna and is in the viewshed of Mr. … Funding for the purchase was provided by a combination of federal grants and existing state bond funds available through the Virginia Public Building Authority and the State Parks and Natural Areas bond, voted on by the public in 2002.

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Benefits of Blogging about your neighborhood

” I live in the city, but the time is maybe, possibly near for a move to a more residential location. When I think about moving, I worry about finding the amazing neighbors I have here and I have to admit that reading your blog has me thinking the community feeling I have in my little neighborhood can be found elsewhere. I’ve been following your story from the start and will continue to do so. … ” I’m curious how many other neighborhood blogs there are in the Charlottesville/Albemarle area.

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Homebuyer Tax Credit in 2010 – Who’s Eligible?

• Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

…If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see: 2009 First-Time Home Buyer Tax Credit . … Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit. … If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see 2009 First-Time Home Buyer Tax Credit . — Part 1- Quick Update on the Charlottesville Real Estate Market Part 2 – Short sales and Foreclosures in Charlottesville Part 3 – Homebuyer tax credit in 2010 – Who’s Eligible?

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Short Sales and Foreclosures in Charlottesville

As of this writing, short sales and foreclosures are not yet considered “the market” when appraisers are doing their analyses, but I as a Realtor representing buyers and sellers am absolutely considering short sales and foreclosures when advising my clients. … When advising sellers who may be considering short sales, we will have a long and in-depth conversation (or two or three) about the considerations, ramifications and things that they and I need to do in order to effectively conclude a short sale transaction.

… • Death –of a borrower • Dying-Sickness of a borrower affecting their ability to earn and pay their debt • Destitute-an involuntary loss of income Divorce- in this case, when one of the occupants leave and it affects the income of the house it can be deemed an acceptable hardship.

… Foreclosures in Charlottesville: Two properties with $100k price reductions A quick look at some of the foreclosures in the Charlottesville/Albemarle area shows that there are foreclosures ranging from $25,913 to $1,010,000. (more trustee sales notices get posted every day) These are some of the foreclosures in Charlottesville and Albemarle that are listed in the Charlottesville MLS: — Part 1- Quick Update on the Charlottesville Real Estate Market Part 2 – Short sales and Foreclosures in Charlottesville Part 3 – Homebuyer tax credit in 2010 – Who’s Eligible?

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Two Bloodhound Posts that Struck Me

Jeff Brown describes how I try to represent my clients …. when I asked a client this year whether hiring me was worth it ? (because that’s all that matters to the client – whether buyer or seller) My client’s response was perfect. He said, “Everything went so smoothly that I didn’t have a chance to really evaluate your negotiation or problem-solving skills.” … I don’t have a Rondo; I have a Honda Pilot – it’s practical, is four-wheel drive for showing land (and getting out in the snow), and has third-row seats for the family.

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