The development is moving forward off of Rio Road (it’s not done yet; it still needs site plan approval) …



Location of Treesdale Park off Rio Rd, between Towne Lane and Stonehenge Road.
Treesdale Park is an 88-unit multi-family community that will be located on East Rio Road. AHIP plans to construct three multi-story buildings which will contain a mix of both two and three-bedroom apartments. Treesdale Park will also be sustainably constructed and certified through EnergyCraft and EnergyStar to further minimize maintenance burdens for its residents.

As an aside, Bing’s Birds-Eye view is pretty fantastic, but their sharing tools are pathetic.

Whereas Google allows easy embedding:

View Larger Map

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Not sure how I missed this story at Charlottesville Tomorrow discussing “affordable” housing in Charlottesville and Albemarle.

Two initial thoughts -

1 – We need accurate data on commuting patterns into and out of Charlottesville and Albemarle. Using data from 2000 is not helpful, and likely deceptive (and I don’t mean “deceptive” in a negative or malicious connotation). I’d wager that since 2000, the number of people commuting into Charlottesville/Albemarle has doubled.

2 – Proffering affordable units doesn’t seem to be helping – (bolding mine).

Since the Affordable Housing Policy was adopted in 2004, 1,622 affordable units have been proffered. While nine proffered units have been completed, seven are under construction and twenty-five are in the final site plan review stage. When these proffered units are completed, the housing stock in the County that is affordable to families making 80% of the AMI will be dramatically increased.

Since 2004, more than $1.5 Million in cash proffers for affordable housing have been offered to the County and of that about $400,000 has been collected. Presently, several major residential and mixed-use developments include affordable housing proffers in the County:

   * Belvedere – 103 units & $500,000

   * Biscuit Run – 455 units

   * Cascadia – 50 units

   * Hollymead Town Center – 245 units

   * North Pointe – 110 units and $300,000

   * Old Trail Village – 330 units

   * Rivanna Village – 78 units

   * Wickham Pond – 16 units

These proffered units are required to be affordable to residents earning 80% of the AMI and are generally intended for purchase whereas public housing is generally directed at families earning incomes at or below 30% of the AMI.

Promising affordable housing is one thing. Actually building it is an entirely different matter.

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“I would be interested to read about houses in trouble in Charlottesville area. Where can I find info about foreclosures, auctions, houses with late payments and so on. Are there a real estate agents specializing on this? Our agent didn’t show much interest in this kind of properties and I didn’t ask him if it is because there are not many on the market currently or he is just not strong in that area.”

First, thank you for the email, for reading my blog and for giving me a story!

Foreclosures in Charlottesville are difficult to find. There is no one place unfortunately that shows all of the foreclosures that are out there.

These are some great sites out there, but no one comprehensive source of all the foreclosures in the Charlottesville area (or any area that I know of).

For example -

Hotpads shows that there aren’t many foreclosures at all (but zoom out a bit for some perspective!)-

As does Trulia -

This is a story about area foreclosures with great comments from February.

*While this post bears some similarities to Joel’s post about foreclosures, I received the email on Tuesday morning, before I saw his story. And, foreclosures are quite the hot topic.

If you’re looking for the most accurate, up-to-date information on foreclosures in the Charlottesville area, I personally use the HooK’s site; I’ll bet they would get good traffic if they devoted a page to foreclosures and the link stayed the same every week – thehook.com/foreclosures … just an (selfish) idea. For example, here are the foreclosures from this week’s HooK.

For some perspective – realize that it’s really not that bad.

If I’d published this post when I originally wrote it, I would have beaten this post at the WSJ.

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I certainly don’t intend to be partisan. But … government should have to defend adequately how they spend our money. The following editorial is from the local “Albemarle Truth in Taxation Alliance.” * If the people don’t speak out on 2 April at 6pm at the County Office Building, or by contacting your representatives, don’t complain.

“It’s only a “pizza and beer a month,”to paraphrase one member of the Board of Supervisors reaction to last year’s failure to raise taxes to their original proposal of 30% (they were raised “only” 19.5%). The difference equates to $15 per month or $180 per year. Doesn’t sound like much does it? We’ll get back to that later.

That statement ignores that a property valued at $300,000 in 2007 already paid an increased tax bill of $332 / year from the supervisors ‘ 19.5% tax increase. So let’s be clear, there was no tax cut. Further, because state law requires that the rate be lowered to produce an equal amount of tax revenues (plus 1%), there was no “rate cut” either.

To suggest there was a rate cut is to ignore state law.

Had this additional “pizza and beer” increase gone through, that property owner would have received a  $512 per year increase! This is more than chump change. Do you really think that if that additional $180 increase had gone through in 2007, there would have be en no request for increased funding in FY ‘08/’09? Unlikely-we’d see the same  hand-wringing about the budget.

Back to “pizza and a beer.”

One man’s pizza and beer is another family’s six (or more) doctor visit co-pays. (ed. note: bolding mine)

Or another person’s two dental check ups, because some folks don’t have dental insurance. Or it might be a couple of grocery bills for a family of four, who don’t generally get a chance to go out for pizza very often. Or for many retirees it’s two months of Part B Medicare payments. $15 per month may not be much, but to some it pinches.

Demeaning the tax increase by suggesting it’s merely a”pizza and beer” per month is like TV commercials that hawk elder life insurance policies by suggesting that it only costs 50 cents a day! That’s still $180 per year! Whenever a marketer uses “per month” or “per day” cost, watch out; there is something you should be paying attention to, most likely your wallet.

Paying taxes is a citizen’s duty and responsibility. No right-thinking pers on can argue otherwise. However, it is also the county’s duty and responsibility to spend our tax dollars as effectively and efficiently as possible. We need to focus first on how we are spending current revenue before considering any increase in taxes, “pizza and beer” increases included.”"

I’d like to link to a Daily Progress article from the last time assessments were done in Albemarle County, but apparently they’ve never written about David Slutzky (but they’re working on it).

* the “Alliance” is an arm/derivative of the local Republican Party; while I don’t subscribe to strict partisan efforts, I think that in this case, they have a point worth sharing.

More on Albemarle County assessments at a previous post.

Technorati Tags: albemarle, taxes

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They are setting a lofty goal and vision that should set the standard for new developments in the Charlottesville region. Yesterday I had attended a presentation given by the developers of the new Belvedere development and the builders – Hauser Homes and Church Hill Homes.

The approval is for up to 775 units. They have the vision – “Enhance lives by creating great places to live and work.” They are using the right buzzwords – “stewardship” “LEED” “sustainable.” They will have an organic farm run by a local organic farmer (and current candidate for Albemarle’s BoS). They’re saying the right things – “green space within 250 feet of every front door.”  Healthy skepticism and cynicism dictates that judgement be reserved for a couple of years … but they are certainly on the right track (in spite of the recent negative press).

A few notes and thoughts on yesterday’s presentation for Realtors:

- None of the floorplans (not yet online) are more than 3,000 square feet. This is a huge accomplishment for the developers – recognizing that buyers want smaller, smarter and high quality space is surprisingly innovative for such a large development.
- Realtors who are representing buyers will have to be more educated on this development than they would have to be on other developments – there is just more “to it.” As such, Agency disclosures will be even more crucial. And … the process seems to be so integrated that finding room for buyer representation will be challenging. My fear is that buyers will think that they don’t need buyer representation. For an example of a “worst-case scenario” – read this (and no, I am not implying that this will be the case here).
- There will be a soccer facility there – immediately bringing in the “beating heart” of the community.

Chris Schooley’s comment in May seems to be a reality. They will be building 800-1200 square foot cottages in the development.

While the current data don’t clearly demonstrate this trend locally:

In 2004, 52% of homes sold in Charlottesville/Albemarle were less than 2000 square feet finished and in 2007, the percentage was 56%.
In 2004, 27% of homes sold in Charlottesville/Albemarle were more than 2500 square feet, compared with 25% in 2007.

The trend is there and will grow.

Bacon’s Rebellion has a post today about Belvedere as well as a more in-depth story that points out a major hole in the development:

The project will not include a grocery store. That hole in the retail offering will generate thousands of off-site trips every month, adding to congestion, gasoline consumption and pollution.

So close to perfect …

The vision is admirable and was lamentably lacking in the past five to seven years. Lauding a visionary goal is one thing; lauding implementation of said vision will come later. If they can pull it off, they will provide the best model (yet) for new developments in the region.

(larger image here)

Tonight I am attending an “Exclusive Information Session” for interested buyers on behalf of out-of-town clients. Whether there is any difference between their message to Realtors and their message to the public remains to be seen.  More tomorrow.

Update 18 October 2007: The presentation was the same, but the questions from the audience were new.

- There is a persistent them that the development will be “family friendly.”
- Concerns about the soccer facility came to light – there will be traffic to and from the fields and this likely will be a concern for some, although the benefits far outweigh the negatives.
- Streets will be narrow to encourage slower traffic and more walking – “activating the street” as they say.
- The buzz around this facility is unique. At no time did anybody speak of agency or representation. Who they select to market the development will be interesting, for many reasons. More on this in a later post.

Technorati Tags: albemarle, belvedere, charlalbemarle, charlottesville, green, real estate

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The DP, Charlottesville’s biggest daily newspaper, has quite the real estate focus today:

Prices put dream of homeownership out of reach
Flight from high prices costs in road woes
High housing prices hit city in rankings
Housing boom benefits but wages still lag
(All stories on one page)

A point of clarification and expansion referencing this (I don’t know why I am taking on the ombudsman role today):

In response to the affordable housing issue, Phillips said, the real estate industry has built more moderately priced condominiums and town-houses. There are 633 active listings for attached homes, which is higher than usual, he said.

In the entire MLS, there are 638 condos or attached properties actively on the market. Albemarle, Charlottesville, Fluvanna and Greene, there are 476 condos or attached properties active on the market, 329 of which are priced under $300k, 151 are under $200k and 38 are under $150k.

Breaking the numbers down a step further to what I believe is a reasonable requirement for many, if not most:

Of all attached/condo properties on the market, with at least three bedrooms:

Under $150k: 0
Under $200k: 1
Under $250k: 2
Under $300k: 6

Another clarification:

The region’s homes-for-sale inventory is also increasing, giving buyers more choices and slightly lower prices. There are currently 3,443 active listings in the region, representing a three-fold increase over three years ago.

In Charlottesville, Albemarle, Fluvanna, Greene and Nelson, there are actually 2,581 properties on the market. I noted inventory levels two days ago, as well as on 31 May.

*Source of data: CAAR (the data was a bit iffy today for some reason)

Technorati Tags: affordable housing, albemarle, charlalbemarle, charlottesville, real estate

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“Being No. 1 is not all it’s cracked up to be. Charlottesville, Va., hit the top spot in the 2004 rankings, but slipped to No. 17 this year. Why? The median house price jumped from $177,000 to $345,000, and the cost of living more than doubled, to the highest in the state, the book says.

What does Charlottesville think of the drop?

“Good!” said Kathy Uriss, the director of information services for the Charlottesville Regional Chamber of Commerce.

Of course, she appreciated all the people who mentioned the No. 1 ranking when they called for relocation packages — especially those looking for places to retire. The president of the chamber was so proud, Ms. Uriss said, that she had bumper stickers made up that proclaimed, “We’re the No. 1 City in America.”

“We were proud and honored, but maybe things will come back to the ground,” Ms. Uriss said. “As housing prices have gotten out of hand, we’ve certainly seen a curtailing in the number of calls we’re getting.””

For better or worse, the Central Virginia region is a destination for many people and as many reasons – retirement, job relocation, school, grad school, med school … because they have read online about what a great place Charlottesville is to live … The Charlottesville area is a great place to live. Just do your due diligence first. (you can start here)

Courtesy of the NYTimes.

Update 05/07/2007: From the Daily Progress (demonstrating how much one should trust these rankings)

“Cville is tops no longer, although it didn’t fall far from its perch,” the authors wrote. “Aside from the negatives, we still see an attractive, intellectually stimulating, and prosperous city with a handle on its growth issues (which have driven up prices as supply has lagged demand).”

Technorati Tags: albemarle, charlalbemarle, charlottesville, real estate

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Biscuit Run, the proposed development to the south of the City has been revised downwards from a proposed 5,000 homes to 3,500 homes. The traffic study work session next month should be interesting.

As always, Cvilletomorrow has much more information as well as a podcast of the planning commission’s meeting.

Wal-mart is finally coming to Greene County! If only NBC29 will stop with the bringing “green” to Greene lines. Hardy-har-har. So clever. There has been much discussion locally about the merits of Wal-mart, but I do know that my clients in Greene will welcome this addition to their community. Soon they won’t have to go to Culpeper or CharlAlbemarle,

Yesterday at an open house for a new development, I was interested to see that their solution, as approved by the County, to the affordable housing situation is to provide affordable “accessory apartments. (pdf)” At least it’s something. More at the County’s website.

Fluvanna’s clustering is moving forward and Daniel has his thoughts on the newest Fluvanna development.

Piedmont Environmental Council’s new report says that we have enough housing in the pipeline. (pdf)

I’ve said it before and I’ll say it again – studies that consider only Charlottesvile/Albemarle or Fluvanna or Greene are too myopic for today’s settlement and travel patterns. We need to look at development and its benefits and impacts from at least a regional point of view.

Housing inventory is up, but development plugs on, and for many, that’s a good thing. The various development industries add so much to our local economy that many don’t realize. Managed appropriately, growth can be good. Might as well attempt manage it, because it seems it’s going to happen anyway.

Tracking all of these things is almost a full-time job!

Technorati Tags: albemarle, charlalbemarle, crozet, fluvanna, greene, real estate

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1) Less pressure on buyers.
2) Buyers have time to consider spending a quarter of a million dollars. (and more and less)
3) Less greed.
4) Patience can be rewarded.
5) The madness has subsided.

Technorati Tags: real estate, realtor

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I thought about this when I read it, but Mayor Brown puts it most succinctly:

And the irony that this luncheon was held in Glenmore – an affluent, gated community – must have been obvious to everyone present.

From the DP:

“Lots of poor kids are smart and need enrichment opportunities,” Ralston told the chamber’s annual Community Government Luncheon at Glenmore Country Club. Parents living in poverty “want the best for their kids but they don’t have the resources and they don’t have the opportunities,” she said.

WINA and WCAV report as well. Hat tip to Waldo.

Might as well lead from the top.

Technorati Tags: affordable housing

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… will lead to heartbreak.

How is this surprising to anyone? Ten Percent (10%!) of the subprime ARM loans written in Virginia were 30 days or more past due in 2nd quarter 2006.

Things are about to get immensely more complicated, now that the Senate is holding hearings assessing non-traditional mortgage products. Why are people/Americans so reactionary and so adverse to planning conservatively?

I was told the other day that there are only two local lenders who have not written any Option-ARM mortgages. I am pleased to consistently work with one of them.

–The biggest payment is on a 15-year payoff schedule.
–The next-biggest payment is on a 30-year payoff schedule.
–Then there is an interest-only payment based on a 30-year payoff schedule.
–The smallest payment doesn’t necessarily cover all the interest accrued during the month. In this “negative amortization” option, the borrower owes more at the end of the month than at the beginning, even after making a payment. (Via Bankrate)

The next 12 to 18 months are going to be very interesting, and very full of opportunity for some and sadness/desperation for many.

Quoth Jonathan Miller:

I have come to belive all news is presented in the most negative light possible, especially news about the economy. I have also come to believe that most people who post comments to blogs or news stories want the sky to be falling (I don’t know why – but it appears to be the case).

And thanks again to Mr. Miller, we have the story below the fold with some truly frightening data. Typically, I might bold one or two of the more poignant points. For this data, I would have to bold it all.

And finally, if you want to see the laughing hyenas taking pleasure in all of this, spend some time at the housing bubble thread. Taking such glee in others’ pain is sad.

I am working on the local numbers for the Charlottesville/Albemarle area …

Technorati Tags: real-estate

From Comstock Partners’ commentary:

Ø      32.6% of new mortgages and home equity loans in 2005 were interest only, up from 0.6% in 2000
Ø      43% of first-time home buyers in 2005 put no money down.
Ø      15.2% of 2005 home buyers owe at least 10% more than their home is worth.
Ø      10% of all home owners have no equity in their homes
Ø      $2.7 trillion in loans will adjust to higher rates in 2006 and 2007.
Ø      70% of borrowers who took out pay-option ARMS in the past year have loan balances larger than their initial loan.
Ø      Homeowners face higher payments as mortgages are reset.  Generally, monthly payments rise between $200 and $500 depending on the size of the mortgage.
Ø      According to Reality Trac, August foreclosures were up 23% over July and 53% over a year ago.
Ø      The number of homes for sale is at record highs, and inventories are 59% higher than a year earlier.
Ø      New home sales are down 22% and existing home sales down 11%.
Ø      The NASB housing market index has recorded an all-time decline.
Ø      The housing affordability index is at a 15-year low.
Ø      The house price-to-income (rents) ratio is off the charts. According to HSBC, in 18 states accounting for over 40% of national home values, the price-to-income ratio is 3.6 standard deviations above the mean.
Ø      The OFHEO index of house prices deflated by the consumption price deflator has soared to a record high of 350 from 250 in 2001.  From 1976 to 1996 it never was above 220.
Ø      According to the NAR the year-to year prices of existing homes are now flat.  A short time ago they were rising at a yearly rate of 16%.
Ø      Nationally, home prices have not declined on a year-to-year basis since 1933.  Recently, however, prices have been dropping in the North East, West and Mid-West.
Ø      Sales incentives are now estimated at 3% to 7% of selling prices.

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I had a neat little post all ready to go referencing these two articles -

Housing’s rate of appreciation slows.
Home prices’ rise slows – this is not a “bad thing.” (Free link)

- and then the NYTimes comes out with their spin on the data – Home Prices Fall in Nearly One-Fourth of Metropolitan Regions. It’s all about perspective.

The Office of Federal Housing Enterprise Oversight (OFHEO)’s quarterly report (PDF) was released the other day and has been the talk of the town.

As a region,

The South Atlantic Census Division including Florida, Delaware, the District of Columbia, Virginia and Maryland experienced its most significant price deceleration since at least the early 1980s.  Its four-quarter appreciation rate fell from 17.43 percent to 13.74 percent.   

Even more specifically, are we really in a position to masticate and gnash our teeth over this?

Charlottesville’s MSA*
National Ranking – 64
1-Year Appreciation – 14.52%
Quarter Appreciation – 4.11%
5 Year Appreciation – 79.93%

*MSA = Charlottesville, Albemarle, Greene, Fluvanna, Nelson

National statistics are a good guide to what is happening to the local market. Whether the County of Albemarle enforces its proffers will impact our market far more than what happens in Peoria (which has had a 22% increase in price over five years).

Importantly, the agent bubble continues to lose ground – only about 30% of all area Realtors have had five or more transactions!

The housing market continues to combat the culture of fear being propagated by the media. The best defense to this fear-mongering? Patience, careful and unemotional data analysis and diligent review and movement.

What does it mean when the Government is using bubble visuals to depict the housing market? (It’s actually a pretty cool picture)

Even more interesting and somewhat intimidating is this chart that has been making the rounds in the past several days -

(larger version here)

The WP has a good article as well.

Technorati Tags: charlalbemarle, ofheo, real-estate

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Following up on Liesel Nowack’s story this morning in the DP, fast on the heels of the Virginia Association of Realtors’ release of home sale data:

Regarding low interest rates’ impact on the boom – did they have an influence? Yes and no. For a (per usual) far more in-depth review, read Samuel Miller’s post entitled “Low Rates Did/Did Not Fuel the Housing Boom.”

Did rates fuel the housing boom? Maybe. Rates impacted the psychology of buyers (and sellers, who usually purchased after they sold) by offering nearly “free money,” from an historical point of view. Low rates allowed builders and speculators to enter the market at a tremendous rate, but low rates are not necessarily the contributing factor to the recent spike in inventory.

More specifically, the mortgage market contributed to the boom. The free market is a fluid, ever-changing, some would say evolving, beast. (from Inman, subscription required:) The study, “The Great turn-of-the-century housing boom,” is here)

“That the increase in home ownership cuts across so many different categorizations suggests that the overall home-ownership rate is not merely reflecting changes in the distribution of the population among the categories. Something fundamental about the home-ownership process has changed,” the study theorized.

What’s changed, the economists say, is mortgages. In the last 10 to 15 years, a slew of new mortgage products aimed at first-time home buyers have been introduced. The secondary mortgage market has grown, allowing many different kinds of mortgages to be sold as securities. At the same time, technological advances have reduced the cost of approving mortgages and given lenders more precise measurements of a borrower’s credit risk. Specialized firms have sprung up to capture different segments of the market, such as origination, servicing and securitization, the authors say.

Freddie Mac has some excellent historical data on interest rates.
Mortgage Rates Decline, to 6.48%
Mortage rates dip for fifth straight week (USA Today)

Year over year, pending sales are down in the CharlAlbemarle region* by 22%. What does that mean? 22% fewer homes are under contract now than at this time last year. Inventory is up, but demand is still strong. Rates are still low. Buyers are buying, but they are buying with more patience and diligence. The housing world is not coming to an end.
Houses are not normal, liquid commodities; they are serious investments that require careful analysis of many, many factors prior to purchasing. The market moved away from this state of due diligence and we seem to be in the midst of a return to normalcy. That is a “good thing.”

Further reading:
OFHEO Housing Price Index for Charlottesville

*The Association of Realtors includes Louisa County in their statistics, despite its omission as part of the Charlottesville MSA.

Technorati Tags: charlalbemarle, real-estate

Graphs courtesy of The Rude Reckoning.

Interest rates for the past 14 years

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The Human Car

Home for Sale, by Anxious Owner – my analysis of local incentives is coming soon.

Macro market roundup

Keep your friends close and your enemies closer (Microsoft and Firefox collaborate)

A great idea marginalized by its affiliation with the UN

It took some time, but I finally found what may be my favorite commercial today – the one for Barclay’s i-Shares, titled “Strike Anywhere.” I’m not sure I’ll buy i-Shares, but this commercial does speak to me.

Technorati Tags: green, real-estate, technology

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To:

Area Firefighters
Area Law Enforcement Officers
Area Teachers

In appreciation for the work you do for the people of the Charlottesville/Central Virginia area, I am now offering an incentive for you to help you with the sale of your home and/or the purchase of your new home.

I will discount my normal commission for you on the house you are selling to help you save on the sale of your home. Whether you’re selling a home or buying your first home, I will offer you a rebate on my commission I earn on the purchase of your home and apply it toward your closing costs to help you at closing.

There are no strings attached. While I have never been in the public service, I have friends and family who have benefited from your service and expertise.  I appreciate the hard work you put into your careers and know civil servants don’t always make the highest salaries for the work they do.

Please call or email me with any questions – 434-242-7140.

CAAR’s Workforce Housing Fund is one aspect of the community’s recognition of this crisis. Hopefully my little drop in the bucket will help.

From the “Credit where Credit is Due” department: I was inspired by Marty Martin’s post.

Update 8/1/6: Article in today’s DP about local affordability issues/regulations.

Technorati Tags: affordable housing, charlalbemarle, real-estate, realtor, workforce-housing

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Platitude-free punditry about rail

Changes in the Housing Market are reshaping cities.

Where are the bike routes in the Charlottesville?

D.C.’s affordability rule gets shot down.

The rule would require developers to make up to 10 percent of their units affordable to households with incomes of no more than 80 percent of the region’s $90,300 median for a family of four. The rule would apply to projects with 10 or more living units.

Albemarle’s Affordable Housing Report and more on Albemarle’s similar affordable housing calculations

Geographical perspective on the Mid East

The power of real estate blogging – the Long Tail perspective

Hence: My IM addresses:

MSN – jd22901
AIM – jd22901
Yahoo: jd22901

Email is Old School. No, not Old School.

Fascinating podcast with Bob Gibson. Regarding newspapers: “You’re looking at a dinosaur.” And you wonder why I tend not to advertise in print media so much.

Technorati Tags: charlalbemarle, politics, real-estate, technology, transportation

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One of the most constant points of discussion in our (and other) region is infrastructure. We need it, but no one is willing or able to pay for it.

From the WP:

“I think we’re finally coming to a place where growth is sustaining growth,” Fitch said, explaining that housing developers seem increasingly willing to pitch in to compensate for the stress on infrastructure caused by new residents. Centex’s contribution would amount to nearly $74,000 per unit, more than double what Fauquier County usually receives from a developer.

But development specialists say the unusually large promise of cash highlights a disturbing trend in Virginia’s booming housing market. Developers eager to plant new homes in exurban locales are building roads, establishing parks and offering money — all in an effort to appease increasingly resistant communities. The result, the specialists say, is more expensive homes.

Regarding the Annadale development in Orange:

Recently, Silver dropped the density to 290 units and raised the proffers to $25,000 per home to make the project more favorable to the supervisors. It worked.

Albemarle’s proffers have traditionally been far less.

The Greene County Board of Supervisors last week determined that the base amount for all future proffers (policy to be reviewed every year) that, going forward,  will be $5,562 per home.

One of the most insightful remarks from the WP article was this, by the representative from the Urban Land Institute:

And in the end, it will be the homeowners who pay the price, said McIlwain, who added that it is these kinds of agreements that drive home prices skyward and suburban sprawl farther and farther into rural Virginia.

Bottom line: somebody has to pay for the infrastructure improvements. The argument continues to be, “so long as it’s not me.” That has to stop.

More more on how this ties into the over-reaching transportation policy, I direct you to this post and discussion at Bacon’s Rebellion.

Might the fact that we are plodding our way towards gridlock be a reason that we are no longer in the Top 100?

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I have been negligent in not writing about this event, starting today in Charlottesville. I make a general rule not to post press releases and such (and have written about Builders’ Blitzes a few times), but this is an exception, due to Habitat for Humanity’s outstanding mission and the real need for both affordable housing and homeowners who take investment and responsibility in their homes.

Home Builders Blitz 2006 will take place this summer, June 3rd – 10th. The formula is simple. Builder/Architect teams have been matched with house sites and qualified Habitat partner families in our program completing their “sweat equity” hours. In that week the builders will complete six simple, attractive and sustainable homes and the families will move in soon after to take up an affordable mortgage as homeowners. The homes are located in the Fifeville neighborhood of Charlottesville, an area consisting of 70% rental units.

Building six houses in seven days – priceless.

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All I have to say this morning is – read what Rick wrote. Thankfully we live in a free country and this person is free to think and say what she pleases; I am free to think and say that her mindset is appalling and I am ashamed that our taxes pay her rent.

After further reflection, if public housing is not “the system,” what is?

Technorati Tags: affordable housing, charlalbemarle, charlottesville

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One of the better assets to our community is the Habitat Store – a place for builders, remodelers and do-it-your-selfers alike. This week they celebrate their move from the staid 4,500 square foot quarters to their brand-spankin’ new 20,000 square foot home on Harris Street – across from Gaston and Wyatt and Intrastate Pest Control.

A client of mine who is works there wrote to say this –

It serves the community in multiple ways; a place to shop for great home improvement materials at a discount, a place to donate leftover or replaced items that are in good shape and might otherwise be discarded, and all monies raised directly benefits the Charlottesville area by building Habitat homes for those in our community who are unable to compete in our market. 

Stay tuned for updates on Charlottesville’s Builders’ Blitz, June 3rd throughout the 10th.

Technorati Tags: affordable housing, habitat for humanity

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