There have been quite a few stories recently discussing Baby Boomers, seniors, the Charlottesville area and their housing needs. The question is – where is the housing for those seeking to age in place, plan for the future or semi- (or fully) retire in the Charlottesville area -

In addition to the lack of housing for those seeking to achieve the above goals, location is key – coming back to my “close to stuff” principle – close to groceries, libraries, things to do … but why aren’t builders capitalizing on this demand? I’ve been asking this question for years, and it seems that like much else in the Charlottesville/Albemarle area (and really, the US as a whole) we’ll wait to benefit from hindsight to recognize what we should have done.

2005 – Where is the Senior Housing?

2006 – What happens after the baby boomers?

2007 – What happens after the baby boomers? Take Two.

The short story is – the Charlottesville area really is a wonderful place to live. But we need to plan for the future.

The Daily Progress recently published a good story describing how seniors add to the vitality of the Charlottesville area – Area offers much to seniors; seniors give back*

I’m often asked why so many people choose to stay in Charlottesville or relocate here after careers wind down and children are launched. The better question is: “Why not?” We are a great community, so why wouldn’t a person at 55 or 75 or 95 enjoy living here? Indeed, the greater Char-lottesville area is often cited as a world-class community.

From Charlottesville’s recognition in 2004 as America’s best city in which to live, to the University of Virginia’s consistent ranking as one of the nation’s best public universities, to the John Paul Jones Arena’s award as the nation’s best new concert venue, we take pride in being the best. And we have resources that are particularly inviting for people in the second half of life.

The Jefferson Area Board for Aging is one of America’s most respected and recognized agencies of its kind. The UVa Health System and Martha Jefferson Hospital consistently rank among the best in their fields.

…

We can retire to a great life here in Charlottesville because we have many of the resources necessary for a high quality of life. Studies consistently show that the biggest challenge facing American communities as we age is the need to help seniors maintain their independence. Further research shows the key ingredients for independence are maintaining physical and mental wellness, continuing to have a purpose in life, and maintaining social connections and support. Fortunately, our community has many great opportunities for people to access the resources necessary to add quality to our later years.

To remain physically fit, we have fantastic outdoor recreation options and a wide variety of fitness clubs. To maintain mental fitness, we have excellent and accessible lifelong learning at the Miller Center and the Osher Lifelong Learning Institute (both associated with UVa) and at Piedmont Virginia Community College. There are countless options for staying socially engaged.

From the Consumerist:

Note to Baby Boomers: You might dress, look and behave significantly more youthful than your forebears, but you are still getting older. That inexorably means retirement and declining health. Unfortunately, a ton of the doctors currently practicing will be retiring along with you. The solution? More medical schools to churn out more M.D.s. After two decades in the ’80s and ’90s during which only one new medical school was opened in the U.S., approximately two dozen med schools have either recently opened or are in planning stages.

The HooK:

However, while Charlottesville is often touted as an attractive retirement destination for all those Boomers and offers several assisted living facilities, the Gardners discovered there weren’t many destinations they’d call home, especially in their price range. “It’s slim pickens for seniors out there,” says Lynne. “There are just not many houses in town designed for seniors.” And that would be houses with a master bedroom, kitchen, bathroom, and laundry all on the first floor— plus easy access to the street. Indeed, according to local realtor Jim Duncan, who picked up on this trend in 2005, out of the 1158 homes currently on the market in the Charlottesville/Albemarle area for under $1 million, only 143 have bedroom, kitchen, and laundry on the first floor, never mind a full bathroom.

* Links added by me.

Copyright RealCentralVA.com, LLC. If you like this post, please, visit RealCentralVA.comwhere this was originally posted.

Read the Albemarle County Budget. If you’re pressed for time or attention span, start with the Budget Summary (pdf) – that’s where I found this unfortunate nugget:

Eliminates $190,000 for Homebuyers Down Payment Assistance Program. One-time funding for this program in FY 10/11 could be available and considered for reappropriation if this program does not meet its anticipated demand in FY 09/10

Find the fat, suggest changes (the first public hearing in 3 March at 6pm at the Lane Auditorium at the Albemarle County Office Building).

This is a hard year for localities’ budgets – Charlottesville, Fluvanna, Greene , statewide (and nationwide), and Albemarle County is no different.

- There is a great discussion at cvillenews, with Jeff Uphoff getting his math on in the comments.

- There’s a petition to “fully fund” Albemarle County Schools.

- The Daily Progress details the discussions on how to cut teachers.

Copyright RealCentralVA.com, LLC. If you like this post, please, visit RealCentralVA.comwhere this was originally posted.

How good (or bad) will February home sales be in Charlottesville, Albemarle and the surrounding counties?

We’ve been talking recently about what the effects the various snowpocalypses have had on the Charlottesville real estate market; people were snowed in, buyers couldn’t get out to see houses (yet another argument for high-quality photos and videos in the Charlottesville MLS), sellers couldn’t get their houses ready or activated on the market … the consensus has been that February 2010 was going to be a pretty sorry month for home sales.

But the data seem to indicate something different … February doesn’t look to be so awful relative to February 2009. I suspect that we’ll see another 10-20 contracts written at least this weekend.

This clearly does not account for canceled contracts, contracts that fall apart due to home inspections, financing or appraisal issues …

Homes – single family, attached and condos – that went under Contract in February in the Charlottesville MSA*

Homes – single family, attached and condos – that went under Contract in February in Charlottesville and Albemarle –

12 condos went under contract in February. 8 were foreclosures or short sales. Two were owned by an LLC, and the remainder appeared to be normal, private sales. This really could be the year of the short sale and more foreclosure delays.

As always, the data is after the jump.

For Charlottesville and Albemarle in February 2010 for far:

- 2 8 were new construction attached
- 31 were resale attached
- 0 9 were new construction single family detached
- 64 were resale single family detached
- 12 were condos
- 0 0 were new construction condos

(and yes, I added the above manually and they match the spreadsheet. )

Update 1 March 2010:

Thanks to Greg, I fixed the new construction numbers above.

Charlottesville MSA for these purposes includes Charlottesville, Albemarle, Fluvanna, Greene and Nelson

See all previous Friday Charts at RealCentralVA, Charlottesville’s most widely read real estate blog.

Copyright RealCentralVA.com, LLC. If you like this post, please, visit RealCentralVA.comwhere this was originally posted.

Why do I aggregate my Tweets every week? Simple. I do spend a little bit of time doing these, so I’d like to have my content on my site. Simple.

• Prepping to show property, then meet some great clients. And *then* dinner with my wife. #
• Picking up cakes for small one’s birthday party. Chandler’s bakery *rocks* – seems great bakeries are in short supply. #
• @jjhutley don’t get stuck! in reply to jjhutley #
• Interesting post on walkability & grocery http://bit.ly/apo4nh cc: @mrlerner #
• Surviving a Power Outage with Sanity Intact? | Bookmark this, stock up and be prepared http://post.ly/NYCN #
• Today has been a day where, if complaining would accomplish anything, I’d be doing a lot of it. #
• Try as I might, I just don’t care about the Olympics. #
• Thanks for the #ff folks! #
• Everyone’s ok. Waiting on the police report. I feel bad for the kid. Luckily as a Realtor I have a flexible schedule. thanks everyone. #
• Even better, he’s uninsured. #
• Just got rear ended #
• I’m at Nest Real Estate Group (126 Garrett St, Suite E, 2nd Street, Charlottesville). http://4sq.com/6aeWJG #
• @mortgagereports Of course Roubini gets challenged. He’s been mostly right & that’s a scary proposition. in reply to mortgagereports #
• @tomperriello Thoughts on this? http://bit.ly/bOaCYu #
• Feds push for tracking cell phones | Politics and Law – CNET News http://post.ly/NMxU #
• If you want to “save” the Crozet Library – http://bit.ly/dv154s #
• I’d like 4 more hours added between 10 and 3 today. #
• @brownautogal Yep. I won. Matched all three. If I didn’t win, it was extraordinarily deceptive advertising. in reply to brownautogal #
• @brownautogal I did. I was inquiring about my having won $25k from Brown’s contest. in reply to brownautogal #
• I know this: when potholes proliferate in the #Cville area this year, we’re going to miss the snow-packed roads #
• Listing Broker Sued for Second Hand Smoke – Part II http://post.ly/NJex #
• Real Estate Broker Sued for secondhand smoke – Part I http://post.ly/NJd4 #
• @tomperriello I’d love your thoughts on this IndyMac “sweatheart deal” by “our” government - http://bit.ly/b6ExfX #
• RT @mrlerner: Even more animations of streets becoming more walkable: http://bit.ly/9HqhnE I just can’t get (cont) http://tl.gd/89moa #
• RT @steinarknutsen: Yet again, NBC’s Olympics strategy is a Web loser http://ff.im/-fK0uG [the Olympics just became far less relevant to me] #
• RT @hanchettjim: New potential budget “catastrophe” threatens Albemarle schools. Parent Council leader speaks out on 19 News Nightcast #
• @TessOrtega I repeat my call for canceling this week, school during Spring Break and the first 3 weeks of June. in reply to TessOrtega #
• @TessOrtega I really wish they’d just admit/decide that schools will be closed Friday , too. in reply to TessOrtega #
• Thank you Josh Davis for closing Albemarle County Schools tomorrow. #
• RT @mattdollinger: Interesting article from WSJ Dev. Blog – FHA Loan Defaults Surpass 9% – Developments – WSJ http://ow.ly/15ZMw #
• RT @zappos: “We think of our future as anticipated memories.” -Daniel Kahneman #TED #
• Please Google, Bring Fiber to Charlottesville | Tell the Albemarle County BoS & City Council http://post.ly/NADC #
• RT @MaggieMcCoy: Yes please! RT @sajego: Dear Charlottesville municipalities – sign up for Google Broadband! http://bit.ly/c0sJJY #
• Finding that w/ each new social network that gains traction, I am more selective in who is my “friend” #
• @cloudbrain I don’t know; done well I think there’s potential. But it’s easily abused. in reply to cloudbrain #
• RT @billlublin: RT @gahlord: Still wondering if FourSquare is important for local business? http://j.mp/bikxdD [good work @e_to_the_m] #
• It’s a freaking wind-storm in Crozet right now. Very hard to see outside from the blowing snow #
• Empty gym. Woo-hoo! (@ anytime fitness crozet) http://4sq.com/73kc7k #
• Seriously, Albemarle County Schools? Do you *really* think we’re going to have school tomorrow? #cville #
• It’s one thing when I choose to waste my time. It’s an entirely different matter when others make that choice for me. Angry. #
• Feeling cheated by no snow today. #
• RT @natfriedman: I wrote a new blog post: http://bit.ly/c4CAnD [Outstanding] #
• RT @ProfessionalOne: 60 Minutes until #RTB on the Radio Begins:: Please call 347.838.8849 to join the conversation!:: http://budurl.com/e8mu #
• Um … @CBS19Weather Where’s the snow??? #
• Showing a cold, vacant, sad foreclosed house. #
• Really, really wish I’d written an article about #RTB radio http://bit.ly/cgat0J for @agentgenius Will do so next week. #
• Price for Single Family vs. Condo Properties in VA-Charlottesville MSA http://post.ly/Mx5g #
• @TeriLussier @agent21 Agreed. But – I’d gladly pay 3x what we’re paying now. #RTB in reply to TeriLussier #
• @tcar 2pm eastern it is. I may be “leadership” but I’m not Leadership. in reply to tcar #
• There’s More to the Real Estate Market than Headlines http://post.ly/MxLu #
• Snow! In Crozet at least. #
• @raelinn_wine main roads in Charlottesville have been fine; unknown what this afternoon is going to bring though. #cville in reply to raelinn_wine #
• RT @BLarsonMpls: Michael Bloomberg: “In God we trust. Everyone else, bring data.” (via NYTimes) #
• @ProfessionalOne I’m thinking we should invite NAR Leadership to today’s #RTB discussion http://bit.ly/cgat0J cc: @tcar #
• I’m proposing the homebuyer tax credit be extended to June; buyers just aren’t looking at houses in this snow. #
• 4-8” of snow today in Charlottesville? Sweet. #
• Early morning of final prepping for tomorrow’s #RTB conversation. http://bit.ly/cgat0J #
• As Seen on Leno – Room to Grow Marijuana http://post.ly/MtAw #
• RT @mrg7175: Power on! [congrats!] #
• @amywebb Kid got a text from someone saying Albemarle County schools are canceled. … in reply to amywebb #
• No drought this year in Charlottesville. #anothergoodthingaboutalltheSnow #
• RT @JonathanK: Nest Realty Announces the Acquisition of Summit Realty! http://bit.ly/b9H1Gr #
• @amywebb Besides, Obama agrees. http://bit.ly/dCdqkL in reply to amywebb #
• @amywebb yeah, God forbid we think about education of our kids first. I’d like to see year-round schooling. /snark in reply to amywebb #
• @amywebb I like my idea of closing this week, canceling Spring Break and having school throughout June in reply to amywebb #
• @TobyBoyce @mortgagereports @PhxREguy No. Leave Goonies alone. in reply to TobyBoyce #
• Getting ready to announce something that will highlight Nest’s ascension in the Charlottesville Realtor community. #
• RT @carolineemerson: RT @CBS19: The @Quadruplicity conference has been rescheduled for March 25. [smart] #
• @CogitoErgoBibo Agreed. I think they should cancel this week, cancel Spring Break & go to the 3rd week of June. in reply to CogitoErgoBibo #
• @rvabusiness @JimDuncan @sashafarmer @KSiddall I’m thinking #cville in reply to rvabusiness #
• What are the chances that Albemarle County schools will be open? #
• @CBS19Weather Woo-hoo! More snow! in reply to CBS19Weather #
• @CBS19Weather Think we’ll get at least 6 inches? (how ‘bout 12?) in reply to CBS19Weather #
• Bodo’s has gift cards!? http://post.ly/Mp0O #
• @okaypaul I’ve written Greenberry’s off because of their poor quality wireless. Otoh, I saw 5 people I knew there in 40 minutes last week in reply to okaypaul #
• I don’t see this “Energy Star” tax credit gaining widespread acceptance in Virginia http://post.ly/Mmi8 #
• If I were in the market for a car, I’d still buy a Toyota over GM. On principle alone. #
• @kvbuckley WP & my blog editor were having a battle. Both lost & so did I. Darn it in reply to kvbuckley #
• Just lost a post I’ve been slaving over for well over a week. Dammit. #
• RT @Robert_Bork_Jr: Audi Green Police ad is too close to reality [no, give it 2 years] #
• RT @mikewhenderson: Usually the govt tries to hide wasteful spending in an obscure earmark. Tonight they wasted (cont) http://tl.gd/7loom #
• RT @doverbEy: Simple and succinct storytelling from Google. Nice. /via @TinaHui #
• RT @DRPnet: Roads in and around Charlottesville are better now than they were 4 days after #snOMG 1. Kudos to #VDOT #
• Showing property in Cville today; there is a remarkable amount of tree damage, trees on power lines, etc. #
• “There are houses we might have bought if they’d had more than 4 pictures. We just discarded them.” ~ my buyer clients #
• Showing a house to clients who contracted to purchase it solely from videos I took for them. Listening to good feedback & learning #
• Roads in Crozet are mostly clear and fine. It’s as if we know that snow is just that- snow. #
• @ProfessionalOne @AndreaRealtor Further, #RPR #039;s market will lower NAR’s push for increased standards. More members=greater revenue. in reply to ProfessionalOne #
• Sweet. on #MTP this morning, Paulson just stated “the recession IS over.” Yeah, thanksforthat. Maybe for his protected echelon #
• RT @AndreaRealtor: @ProfessionalOne Do you think #RPR is ameans for NAR to try and gain relevance to its members? [yep] #
• Eminently pleased that we have not lost power or cell service. Thank you, #VZW & #comcast #crozet #
• @Mike - I disagree; many consumers do a pretty good job of sorting out the bums, but a lot of consumers don’t have… http://post.ly/MV78 #
• @ProfessionalOne Something will come of it when we have infiltrated NAR leadership. & by that time I’m concerned that “we” won’t care in reply to ProfessionalOne #

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I hadn’t. Huge thanks to Waldo for getting the Revenue Sharing Agreement. You can download it at Scribd.

The revenue sharing agreement between Albemarle and Charlottesville is a pointed point of consternation and disagreement and highlights the political (dysfunctional) relationship between the two Governments. This agreement and the relationship between the governments matter. To home buyers, sellers, residents (and Residents) – so many services are separate, but so many are and are perceived to be shared. Schools are clearly separate. (Albemarle – Charlottesville) Everything else is seemingly a matter of branding.

Tons of “ink” have been written recently about this agreement.*

Three of my favorite starting points are:

- Jennifer’s Revenue Sharing Agreement

- CVillePedia

- Revenue Sharing Agreement debated again

But have you actually read the agreement?

Inlookers, Charlottesville is surrounded by Albemarle, and to most people who don’t live in CharlAlbemarle, they are one and the same.

Charlottesville is an independent city in the Commonwealth of Virginia with a population of 40,745^[1]. It is home to the University of Virginia which provides another 9,000 part-time residents. Charlottesville is located on 10.4 square miles of land and is completely surrounded by Albemarle County. Charlottesville is also the County seat, though it is an independent city with a separate government.

The Bureau of Economic Analysis combines the two jurisdictions as one of 363 Metropolitan Statistical Areas (MSAs) in the nation. Its 2005 population of 188,016 ranked 212th in the nation^[2]. The MSA also includes Albemarle, Fluvanna, Greene and Nelson Counties.

* Google News Search by location is pretty nifty. Have a look at their sorta-accurate historical timeline of the revenue sharing agreement .

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First Wednesdays wants to hear from you.

If you are part of an internet company, design / development firm or startup project in Charlottesville, we’d love to hear from you. The goal of First Wednesdays is to grow the internet / startup community in town by highlighting companies and hosting networking events. Help us find you!

The Charlottesville is consistently rated as a great place to live, and is a destination location for buyers and families and people who choose to live in Charlottesville* and work elsewhere – whether in Los Angeles, Denver, New York … and live in Charlottesville.

I’m curious to learn just how many internet and tech firms there are in the Charlottesville area. HighTech Cville, which seems to be a site by OpenSource Connections, lists 405 organizations in Charlottesville.

* Usually Charlottesville/Albemarle.

Copyright RealCentralVA.com, LLC. If you like this post, please, visit RealCentralVA.comwhere this was originally posted.

Edit: Bumped to the top because I really don’t want anyone to miss this analysis.

This is going to be a developing post as I read through Barry Merchant’s presentation from this morning.

Barry Merchant’s VHDA presentation at Charlottesville Area Association of Realtors (PDF)

Here is a podcast of Mr. Merchant’s presentation.

Additionally,

Here is an advance copy of the Nest Report, what we believe to be the best, most “comprehensive and transparent analysis of the residential real estate market in Charlottesville, Albemarle and surrounding counties, prepared quarterly by Nest Realty Group.”

Nest Report – Year End 2009, Predictions for 2010 (PDF)

I’ll jump to the conclusion of the Nest Report for you:

2010 will be about the national market and not just local stories. Unemployment will drive foreclosures and excess supply. Interest rates will control limiting demand. If unemployment and interest rates converge, price drops are not just possible, they are guaranteed. If, however, unemployment can stay stable and interest rates are affected, but only modestly, we could see a continuation of the recovery that we saw in the 3rd and 4th quarter. The weather in January and early February is certainly going to decrease the number of closings, as there have been few days in which buyers have been able to shop without weather being a factor.

All in all, we believe that compared to the rest of the US, the Charlottesville market has fared relatively well. However, prices are down and will continue to fall. Sellers that are attempting to chase the falling market with small listing price adjustments are unlikely to find buyers at prices they are hoping for. For sellers, pricing the home competitively may not be enough. Sellers may need to move to prices that drive multiple offers in order to close in on one.

For buyers, interest rates are going to rise. Now is a good time for those with long time horizons. While prices will continue to fall, the ownership costs may not. Buyers need to consider monthly mortgage payments along with principal reduction though payments as part of their equation. Buyers may find that even if prices fall 7-9% more, that buying today could make better financial sense in the long run.

If you would like a printed copy, please email or call me and I will be happy to put one in the mail. Or, stop by Nest Realty Group – we’re just off the Downtown Mall in the “Warehouse District.”

Comments, feedback and input welcomed.

Copyright RealCentralVA.com, LLC. If you like this post, please, visit RealCentralVA.comwhere this was originally posted.

We’re growing quality, not necessarily quantity.

CHARLOTTESVILLE, VA (Feb. 8, 2010) – Charlottesville-based Nest Realty Group today announced its acquisition of Summit Realty Company. The move combines two of Charlottesville’s most successful real estate firms and expands the 1-year-old Nest Realty team to 14 full-time real estate professionals. It also paves the way for Nest to expand its services from a primary focus on residential real estate into commercial real estate and leasing.

…

In addition to a strong focus on technology and innovation, Nest Realty agents are held to a higher standard. All agents must have a minimum of three years experience, practice real estate full-time and earn their Broker’s license shortly after joining the firm. With almost $4.7 million in sales per agent and 13.75 transactions per agent, Nest Realty agents more than doubled the production for the average Charlottesville Realtor in 2009.

Copyright RealCentralVA.com, LLC. If you like this post, please, visit RealCentralVA.comwhere this was originally posted.

For anyone interested in a prime example of the City of Charlottesville’s and County of Albemarle’s occasionally dysfunctional relationship, Rachana Dixit and Brandon Shulleeta have great story in today’s Daily Progress.

When explaining the City/County relationship to relocating buyers, I often describe the governments as being akin to estranged husbands and wives who are sharing custody of the kids. Or as brothers and sisters who occasionally poke each other in the eye, just to see what will happen. I know these explanations trivialize the importance of the Charlottesville/Albemarle relationship and doesn’t give credit for the many places in which they do cooperate, but they are still applicable analogies.

The clash over money between Charlottesville and Albemarle County is turning into a political civil war, with warnings that each step from here will undermine collaborations that would cut expenses and instead possibly cost taxpayers big bucks down the road.
…
Historically, revenue-sharing payments have ballooned. The first payment was for $1.29 million, and in the current budget, Charlottesville received more than $18 million, bringing the total payment amount to $160.8 million since the agreement went into effect in 1982.

Many county officials say it’s unfair that a state formula that determines education funding for localities — based largely on localities’ wealth — fails to account for the revenue-sharing agreement. Bell’s amendment proposal would count the money Albemarle pays Charlottesville toward the city’s wealth instead of the county’s wealth — which would increase state education funding for Albemarle in fiscal 2012 by $2.6 million and decrease Charlottesville’s state education funding by that same amount.

…
Albemarle School Board member Brian Wheeler said he thinks it is unlikely Bell’s amendment will pass and that the legislation could instead increase bad blood between the two localities.

How does this affect buyers, sellers, homeowners, renters in the CharlAlbemarle area? Taxes and duplication of services = Money and inefficiencies. There are also cultural and political differences between the two localities that extend far beyond simple monetary conflicts.

For example:

In 2009, The City of Charlottesville voted 74% for Creigh Deeds and the County of Albemarle voted 49% for Mr. Deeds.
In 2008, The City of Charlottesville voted 78% for Barrack Obama and the County of Albemarle voted 58% for Mr. Obama.

If you’re interested in the annexation discussion, start at Charlottesville Tomorrow.

Copyright RealCentralVA.com, LLC. If you like this post, please, visit RealCentralVA.comwhere this was originally posted.

• RT @G2Architecture:first analysis shows a 17% return on investment for #green insulation upgrades at my house-was hoping for 30%,but not bad #
• Night sledding. Woot. (Yeah, I’m still a child) #
• @bob_wilson You mean, there’s more to it than that? in reply to bob_wilson #
• RT @outskirts: we need more snow. local schools may get to open this week. #falsesnowmaggedon #
• I think I’ll wait until about 3 to go sledding. Hopefully things will be a bit more iced-over; then we’ll go *super*-fast! #
• @ProfessionalOne #RTB has to be staged w/ levels – I see the parallel as evidence of futility, rather than specifically against. #
• An argument against #RTB cc: @robhahn @professionalone @mayareguru http://post.ly/MV78 #
• RT @bfinnegan: I heard that if the power goes out, panicking keeps you warm. #
• Showing today delayed until tomorrow. #
• Quite disappointed that we got only ~10 inches of snow. #
• Correction: heavy sleet. @CBS19Weather That we haven’t lost power yet is remarkable. I want snow! #
• Sounds like some real driving sleet out there. @CBS19Weather #
• Power just flickered. #
• Seeking Chainsaw-Wielding Citizens in Charlottesville and Albemarle http://post.ly/MOU2 #
• @jsheehan200 We do; ultimately eliminating single-agent dual agency is the goal. Designated must be an option. in reply to jsheehan200 #
• @mattrathbun I’ve been told – many times – by consumers & clients that they perceive Nest to “get it”. in reply to mattrathbun #
• @rsajja also – http://bit.ly/cuZFi in reply to rsajja #
• @benjaminbach @mattrathbun @PhxREguy Agreed that there can be and are differences, but do consumers recognize this difference? in reply to benjaminbach #
• @rsajja @PhxREguy http://bit.ly/cFDuiV Standards, ideals, goals, focus on clients in reply to rsajja #
• @mattrathbun @PhxREguy @SarahStelmok question is – do consumers recognize differences? in reply to mattrathbun #
• @PhxREguy Agreed. Big brands (so far) have proven homogeneity is the rule. Setting is standards is bold & recognized. in reply to PhxREguy #
• @karenstl @PhxREguy Ha! We’ve given clients our signs. http://bit.ly/9G1RZU in reply to karenstl #
• @PhxREguy @ProfessionalOne I’m starting to disagree; if the brand is *great* consumers care. (we’re seeing this @nestrealty) in reply to PhxREguy #
• I’m thinking we’ll lose power http://post.ly/MNyF #
• @ProfessionalOne @phxreguy agents may, but do consumers care? in reply to ProfessionalOne #
• RT @dougfrancis: @DocuSign what about a t-shirt? [Shameless. (Me too!)] #
• RT @DailyProgress: Getting info from the scanner and reporters that trees are starting to break under the snow load. #
• Off to the gym. #
• And that’s the thing with the #RTB conversation. I’m too busy working with & for clients; carrying forward the #RTB is a full-time job #
• Possible good news. The foreclosure has allegedly been delayed. Persistence pays off. #
• @randomclapper 2 inches so far, expecting (and I’m hoping for) an additional 26! in reply to randomclapper #
• On hold now with what seems to be a useful person interested in helping; unfortunately the hold music is apparently from a 70’s porn #
• Talking with a loan/debt servicer, trying to convince them that letting us close is better for everyone than foreclosing. #
• Roads in Crozet are slushy; driving slowly is recommended. #
• Have some Perspective- Snowmageddon (aka snOMG) is Upon Us at cvillenews.com http://post.ly/MKao #
• For some fun, go to Google and type in “why ” and see what Google suggests … #
• Dropped off two relo packages in the mail, prepping for an #RTB conversation, hoping to show a house at 11:30. #
• RT @MudhouseCrozet: Crozet Hardware just received a shipment of snow shovels… get them while they’re still there! #
• So long as I don’t lose internet during this storm. Or cell service, all will be well. Talking to you, Verizon & Comcast #
• The Harris Teeter feels like the Food Lion at Duck on Saturday afternoon. And all I want is beer. #
• RT @sumidiot: gotta admit, i’m a little confused about declaring an emergency before anything actually happens. #
• You want Charlottesville real estate data? I’ve got Charlottesville real estate data. http://bit.ly/94zsDS #
• @ProfessionalOne @MayaREGuru @JimDuncan @toddwaller Really looking forward to it! in reply to ProfessionalOne #
• @Caartweet How can a “member only” twitter account be unprotected? #
• RT @TobyBoyce: I don’t care if you are fighting with your wife or other real estate agents. http://bit.ly/98TiOV [fixed the "agents"] #
• RT @jmckeever: Congratulations!! RT @chadratliff: Just found out I was accepted to attend TEDxNYED http://bit.ly/aKsx0C [wow!] #
• Want a copy of the Nest Report? DM me. @NestRealty just put the finishing touches on the report. #
• RT @JBern: The drama surrounding NAR and @tcar is getting annoying. That is all. [#matters ] #
• Re: #snowpocalypse in Charlottesville: this is a once-in-a-lifetime winter. Let’s make sure we (and our kids) enjoy it! #
• RT @BradOwens: From the NWS: Total accumulation of 16-24″ 6am Friday till 10PM Saturday !!! http://bit.ly/dkLUUr #Snowmageddon #
• Photos done for one new listing in Crozet, arriving at 2nd new listing now. #
• RT @DailyProgress: Can we stick with the tried and tested #snowpocalypse ? Or do we have to think of some new clever bit? [Snowpocalypse2] #
• Just got some excellent feedback from a friend, for which I am grateful. #
• @CBS19Weather did I hear you say more snow on Tuesday? in reply to CBS19Weather #
• My Verizon blackberry has been on 1xev for the past several hours. No email. Meh. #
• RT @newmediajim: RT @steverubel Go Big, Get Your Employees on the Bus or Go Home http://post.ly/LzrH #
• RT @Rick_Sincere: RT @FoundingLegacy: “If government has no favors to sell, no one will spend money trying to win them.” — John Stossel #
• Learning history of Agency before we may try to change it (@ Virginia Association of REALTORS) http://4sq.com/7NVbtS #
• @stevewhitaker I like rumors, but our region panics enough at prospect of 3 inches, much less 40.I figured asking the source was responsible in reply to stevewhitaker #
• @jcunwired @stevewhitaker @NBC29 re: 40 inches – see statement from VDOT on http:g/realcentralva.com in reply to jcunwired #
• Now, off to Richmond. Will address @stevewhitaker later. #
• @stevewhitaker Callously it’s impossible to serve *everyone*. Sometimes focusing on “vast majority” is called for in reply to stevewhitaker #
• RT @DRPnet: I’m proposing a snow plan for schools-buses only run on main corridors & parents have to get kids to snow bus stops or 2 school. #
• Prepping to go to Richmond for a meeting to discuss Agency. #
• VDOT says “Any story that we are “expecting” 40-50 inches of snow is incorrect.” http://bit.ly/dbGeM9 – But when will we have school again? #
• @sajego @kelkel926 @hull darn seesmic (me, really). My two personalities are overlapping. in reply to sajego #
• Off to the gym. #
• Albemarle County Schools closed tomorrow. I know. You’re shocked. #
• Hey @511northwestva All the rumors I hear of snow coming in excess of 20 inches start with “VDOT says ..” – how much snow are you expecting? #
• RT @DailyProgress: Conflict grows over planned Crozet gas station: … http://bit.ly/dcQ3up #
• Off to see a new, potential listing in Crozet #
• Sirens in Crozet. Apparently there’s already a wreck. Be safe, people. #
• That I actually need milk is unfortunate. At least I’ll be able to witness the snowpanic first-hand. snOMG #cville #
• RT @JimBain1: Who in Charlottesville is selling snow shovels? #crowdsource #
• RT @cvillenewscom: @Smallchic For bonus points, both of you should race down the aisles, riding the carts, screaming like muppets. #
• It’s snowing in Downtown Charlottesville. #
• RT @rprav8r: Ack! It just started snowing in Crozet. Just a teensy bit. #
• RT @rprav8r: Ack! It just started snowing in Crozet. Just a teensy bit. [yay!] #
• RT @CBS19Weather: Coming up in a few minutes: what do the computer models say about this weekend? (tk) [well??] #
• Remarkably frustrated. With things that are out of my control. #
• Sitting in the living room of my newest listing ((Crozet, 22932)) http://post.ly/LoiW #
• RT @tomperriello:We can’t let China win the clean energy market.USA can do it better and we need those jobs here. http://tinyurl.com/yac6pfc #
• 40 inches of snow this weekend in Charlottesville. I heard it on Twitter, so it must be true. http://bit.ly/bDtI2Y cc: @amywebb #
• Speed trap on 250 bypass. Westbound at McIntire Park. #cville #
• RT @johnmijac: Duplicity in mother-of-all mortgage walkaways – Real estate- msnbc.com http://ow.ly/12W2F [but homeowners should stay?!] #
• @k12albemarle: CBS19 on how Albemarle Co. decides whether to close school. Reporter follows road assessment team: http://bit.ly/97IF54 #
• RT @cvilletomorrow: City Council sets goal of getting 15% of Charlottesville’s home as ‘affordable’ by (cont) http://tl.gd/6h28n #
• #atthegym Woot. #
• @CBS19Weather I’m hearing rumours of a foot of snow this weekend. Truth? (‘cuz I say, WOOO-HOOO!) in reply to CBS19Weather #
• Putting in another listing. Think I’ll write a blog post about my 3 newest listings. All have woodstoves. #
• My house’s assessment in Albemarle County went down nearly 10%; what about yours? http://gisweb.albemarle.org/ #
• RT @chadratliff: RT @k12albemarle: All Albemarle County Schools closed Tuesday 2/2/10 due to road conditions. #
• @robhahn You can’t defame people on the internets. They’re just <i>blogs</i> afterall. in reply to robhahn #
• Kid just got a text message; Albemarle County schools are closed tomorrow. #
• Talking to someone about @Diversesolution – telling him how much I love them. #
• Pole hit by Dominion Power http://post.ly/LeI3 #
• Thanks, USPS. You have now lost 3 relocation packages I have sent out. You’ve cost me money. Goodbye. #
• I’m Not Sure what “Speak Up for our Schools” means yet http://post.ly/Ldvk #
• I’ll be shocked if Albemarle have school tomorrow http://post.ly/Ld6R #
• Apparently, plowing mostly stopped at Owensville Road on Garth. #
• An excellent question begging clarification re: proposed Yancey Business Park in Crozet http://ow.ly/1263w #
• On the ethics of “strategic default”… | VARbuzz http://post.ly/LYIY #
• Seriously, what would it take to make USPS deliver only 3 days a week? #
• @bradcoy @bnix Knowing when & how to engage is key. Knowing when to listen is important as well. in reply to bradcoy #
• RT @bradcoy: @bnix re: avoidance not being easy. SO true yet *disengaging* is not talked about as a value. It’s important. #
• RT @tcar: Oh, except it’s awaiting moderation. Here’s a screenshot. http://yfrog.com/3lt2ap #
• Yep. Albemarle County Schools closed tomorrow. Shocking. #
• Dominion Power hit one of their own poles at Park and High in Crozet. #
• What are the chances of Albemarle County schools being open tomorrow? I say 10%. #
• RT @bradcoy: avoiding the suck of the re.net to focus on what’s more meaningful on Sunday. my business. [A MEN.] #
• @robhahn Constructive criticism is key. Public or private. Present solutions rather than merely bitch in reply to robhahn #
• RT @calculatedrisk: TARP Inspector General: Government Programs “risk re-inflating that bubble” http://bit.ly/9vcR3I [who knew?] #

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• @BSpinosa is on fox news right now. Nifty. #
• One person – One! Led to the ban on Diary of Anne Frank in Culpeper, Virginia http://post.ly/LPR3 #
• I know this – the plowing folks in Crozet are very talented at making all the roads deliciously solid ice. Very fun driving. #
• 240 and Tabor in Crozet http://post.ly/LM3T #
• @PhxREguy Bwhah-hahahahah. in reply to PhxREguy #
• @PhxREguy After comment #5 I stopped. I couldn’t take it anymore. in reply to PhxREguy #
• This is why I don’t read Active Rain. See the comments here http://bit.ly/9MZFvo & here - http://bit.ly/b8tyAj See the difference? #
• Is @mudhousecrozet open today? I saw that @trailsidecoffee is open. #
• @FloridaSunSales Wordpress. in reply to FloridaSunSales #
• I’m always surprised when a scheduled post publishes itself. #
• Charlottesville’s housing market summed up nicely http://post.ly/LKVq #
• RT @bradcorner: Our friends at @cbs19 have dubbed this one “Saturday Slap”! last one was “Holiday Punch”. Funny. #
• Went to the gym, and now working on some market analyses. Yay Friday night. #
• The more I think about this, the more I’m offended by the Obama administration … http://post.ly/LGoV #
• RT @toddwaller: Automation: revealing your commitment to customer service even quicker. #facepalm #
• @JonathanK it would appear the Obama administration has some serious ADD in reply to JonathanK #
• RT @JonathanK: Dear Mr. President: Please stay focused. I think the economy is a little more important than the BCS. http://bit.ly/97llkV #
• @TobyBoyce @andrearealtor I’m embarrassed for Va. We freak out about a tiny bit of snow. in reply to TobyBoyce #
• RT @TobyBoyce: @AndreaRealtor What’s a little snow? Jeez, show Va folks [VA is under a State of Emergency. Anticipating 3-6 inches] #
• Had showings set for tomorrow; impending snow pushed them to Sunday. #
• Last night’s Daily Show was a home run. http://bit.ly/9NibCe From the opening to the interview with Doris Kearns Goodwin #
• Bundoran Farm on the Radio http://post.ly/LEm7 #
• RT @bradramsey: tune in. @cbs19 reporter Bianca Spinosa will be a guest on the Geraldo show tomorrow night on FOX News Channel from 10-11pm #
• Crozet gets a Blockbuster. http://bit.ly/aNC3tA #
• Search Underway for Missing Man in Shenandoah National Park http://post.ly/LCUe #
• I fear my Blackberry curve may be on its way out. Three random reboots, 1 battery pull and a 15 minute reboot this morning. #
• A Blockbuster kiosk in Crozet http://post.ly/LASL #
• Crozet meeting. http://post.ly/L7Es #
• JimDuncan Looking for studies/data that show correlation b/t school districts & property values. Anybody? ^^ #
• Looking for studies/data that show correlation b/t school districts & property values. Anybody? #
• Summary of the Q & A before I left Crozet mtg:”we don’t like undefined change and we don’t trust government, so what are we supposed to do”? #
• It would have been helpful if they had distributed this presentation for digestion *before* the meeting. It’s a lot to take in #
• This meeting reminds me of the fable of the frog being slowly boiled. We’re going to wake up one day & everything’s going to be different #
• A large crowd at tonight’s Crozet Master Plan meeting http://post.ly/L4vC #
• *Packed* house at Crozet’s Field School for the discussion on the Yancey Mill light industrial project. #
• @CBS19Weather what’s the difference b/t “warning” & “watch”? – “bread & milk” or “bread, milk, sterno & panic room”? in reply to CBS19Weather #
• Podcast of yesterday’s radio appearance cc: @TomRoyce http://bit.ly/dx1ChC #
• RT @CrozetGazette: Crozet Master Plan mtg on rezoning for proposed Yancey Mills Business Park tonight 7pm, Field School http://bit.ly/bYzvjm #
• RT @CrozetGazette: newcomer’s curious a/b the meaning behind this blue flag with 3 red rosettes she sees around Crozet- http://bit.ly/bmqqAy #
• Who wants more snow in Charlottesville this weekend? http://post.ly/L0zO #
• It’s funny how my clients cluster. I have two & hopefully 3 new listings coming on in the next three days – all under $200k. One well under. #
• It’s easy to forget that these views are so close to downtown Charlottesville http://post.ly/L0BT #
• Photos done for one listing in southern Albemarle. Taking pics for one in Western Albemarle this afternoon. #
• Do What you Do, and Do it Well. http://post.ly/Kybw #
• @BLarsonMpls I’m waiting to hear what they say before I pass judgment, but they really should be out in front of this … the… http://post #
• Up too early; working on a couple listing agreements. #
• It’s a Shame that #RPR Team is not leading this conversation. http://post.ly/KvKn #
• RT @BLarsonMpls: MLSTesseract: I’m baffled by #RPR MLS data license agreement http://bit.ly/a4HrAL Plz RT #
• Anyone else get a mailer from Brown Automotive “winning” $25k today? #cville I’m thinking it’s a scam. http://bit.ly/axW9n8 #
• RT @NationalBLS: Didn’t Google say they were NOT going into real estate? http://bit.ly/8YhSbX #ICNY #
• RT @NeilSWilliamson: Best new transportation modeling acronym PEV Pedestrian Environmental Variable #
• Super-fast radio appearance. Now off to the north to see about a listing & then show a house. #
• I’ll have about 5 minutes to sum up the local real estate market. #
• Technical difficulties in the WINA studio. #
• At C’Ville Coffee prepping for the radio. Less than 20 minutes to cover 3 hours of material. Tune in to WINA today at 4:10. #
• Why all the traffic at Kroger’s gas station? http://post.ly/KrX6 #
• @JBern @lostangel I’m finding that those who have time & $ to move real estate industry have little incentive to do so. in reply to JBern #
• RT @JBern: Quote of the year (so far) from @lostangel: “Moving the RE industry is… hard.” #
• Fighting foreclosure & debt collector timelines. This was not on the real estate exam. #
• I’m at Nest Real Estate Group (126 Garrett St, Suite E, 2nd Street, Charlottesville). http://4sq.com/6aeWJG #
• RT @softRealtyDude: Another brilliant article from @robhahn – http://bit.ly/cuR3tq – Anyone concerned about branding should read this. #
• Conservation Easements bad for Farming? http://post.ly/KpT3 #
• @jeffvogelsang To follow Apple today, I’d follow Tablet, Apple, Jobs, OMG, OMFG, OMFGIR (OMG, It’s Real!) in reply to jeffvogelsang #
• RT @gregrobertson: Frantic Steve Jobs Stays Up All Night Designing Apple Tablet http://onion.com/9eSVOg (via @TheOnion) #
• I’ll be on WINA Radio this afternoon http://post.ly/KoEh #
• @NationalBLS Got some stats to support first time homebuyer demographics? (I agree, but love charts & graphs) in reply to NationalBLS #
• Crozet Library could receive USDA funding? http://bit.ly/9sVZOr Not sure I see the connection, but Crozet will take any $$ they find! #
• Looking for a job at NGIC/DIA – any advice/guidance? #cville http://ow.ly/10I1n #
• @mattdollinger How could you *not* take that as a compliment? Compliments like that don’t come about every day! in reply to mattdollinger #
• RT @BLarsonMpls: Is there an #RPR license agreement available now? Inquiring minds want to know #
• I’m surprised it took Crozet Hardware this long to erect this sign http://post.ly/KjNM #
• Met with a new buyer client at Crozet Mudhouse tonight Patrons were tolerant of my companion – the one running around picking up balloons #
• Multi-tasked at the crozet mudhouse meeting a buyer client. #
• @CBS19weather I’m all for snow this weekend. Lots of snow. #
• @mokukai 1) yes, so long as we seek to define professional. Griping a/b others is not helpful. 2) Pareto is right. in reply to mokukai #
• Finding that thedelicate balance b/t harassing prospective clients and not contacting them enough is a finer line than I’ve ever seen #
• RT @pheadrick: The best grammar lesson you’ll see this week; most people need it — http://is.gd/76oL3 #
• Price per square foot analysis for one home in Charlottesville. It’s not a trend. http://post.ly/KgF8 #
• @cvillenewscom His NGIC article is one of the best I’ve read. http://bit.ly/9ekC4N in reply to cvillenewscom #
• @tcar @JimDuncan We need to define what #RTB means. Until then it’s all theoretical. in reply to tcar #
• @kvbuckley I wish it were that easy; that attitude hasn’t done much for the profession so far, though #RTB in reply to kvbuckley #
• @kvbuckley It’s not a matter of how professional other agents are; it’s a matter of making *everyone* more professional #RTB in reply to kvbuckley #
• @tcar @DaniloB I have seen a much more vocal support of #RTB than opposed. I suspect opposition is done in hallways & via complacency in reply to tcar #
• Footer on NAR blog says “copyright 2008”. http://bit.ly/59fcuC #
• @tcar I asked a question, but am stuck in moderation. http://bit.ly/6gHZSI #RTB in reply to tcar #
• Tell Us how you really Feel, Mr. Krugman. http://post.ly/Kexg #
• @seanshanks Wow. I’d love to talk to you about that! in reply to seanshanks #
• @seanshanks Not that I’m aware of. Going to put up one of these? http://bit.ly/53XpVO in reply to seanshanks #
• Putting real estate information in context – filtering & deciphering for clients http://post.ly/Kdeo #
• @ProfessionalOne @toddwaller @MayaREGuru MLS can mandate MLS training; good market data is crucial. Assoc. can’t mandate contract training in reply to ProfessionalOne #
• RT @CBS19Weather: Not going to lie: storm affecting us late Fri. / Sat. has me concerned. Similarities with 12/19/ (cont) http://tl.gd/5d8e0 #
• @mayaREguru @toddwaller um yeah, some agents do need to be taught how to use MLS. ‘Course, some need to be taught how to write contracts too in reply to mayaREguru #
• Realized while talking to seller clients tonight that time is really of the essence. Homebuyer credit expiring + FHA premiums increasing #
• Just saw a great new listing in Western Albemarle; perfect for 1st-time homebuyers. #
• Only foursquare would think I’m the mayor of my house. Life is so much different. But at least I have 4square. #
• @DRPnet Fun, schmun. It’s required, no? in reply to DRPnet #
• Just emailed two legislators about bills in the General Assembly; have you contacted your elected representatives? About anything? #
• RT @InmanNews: The RPR debate Marty Frame & Dale Ross debate this hot topic-see the FREE video! #icny http://ow.ly/ZbnL [not really”debate”] #
• Looks like spring on the Downtown Mall http://post.ly/KTP7 #
• RT @ProfessionalOne: New at P1Fran.com: #RTB on the Radio (http://cli.gs/RBN2r) #
• RT @robhahn: Ahh, happy birthday @AndyKaufman and @morganb #
• RT @Tom_Sweatman: RT @thisisjohnny how do you measure leadership? http://is.gd/6ZM6k #
• That’s not usually a pond http://post.ly/KSTe #
• Would you use Open Space in Crozet? http://bit.ly/5DZbBO I’d only come to C’Ville to show houses. #
• RT @stevewhitaker: It’s 62 degrees in Charlottesville. Clearly, the End Times are here. [ http://bit.ly/4Stq9v ] #
• Realtor Alphabet Soup – Valuable? | RealCentralVA.com http://post.ly/KRVI #
• Albemarle County Schools Closed – 25 January 2010 http://post.ly/KR6p #
• Albemarle County schools closed??? How much rain did we get!? #
• Wouldn’t it make sense for banks to just lock all current ARMs at their current levels? And remove some FUD from the markets? #
• RT @doverbey @DeanOuellette I say take the high road in private but if she refuses, then you take public. [but print-screen *everything*] #
• @drewmeyers Must-have mac programs – http://bit.ly/6O70CA #
• You’ve heard about Bacon Salt. But have you heard about … http://post.ly/KMY6 #
• RT @tfjtolson: @stevebragaw Why closing #Crozet Library branch is a possibility , see this Facebook discussion http://tinyurl.com/yj7pc9o #
• Help the Toy Lift http://post.ly/KJmt #
• Just sent someone w/ a real estate question to @gingerw via @vark #
• Showings over. Time to get some other work done. And I’ve heard rumors I have a “family”. Maybe I should say hi to them. #
• RT @robhahn: So much for “settled science” http://bit.ly/7gcPhb [why is trustworthy info/analysis so hard to find?] #
• Off to show a house. #

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From a press release from the County this morning … much more to come later … bolding mine.

Albemarle County is sending reassessment notices to taxpayers this week reflecting changes in property values resulting from the County’s recently completed annual reassessment. The 2010 reassessments show changes in residential and commercial property values resulting from a continued weakening of the economy being experienced locally as well as nationwide. Overall assessed values, excluding new construction, declined 3.18%.

This figure compares to a decrease of 2.59% for the previous reassessment period. Residents should be aware that the 3.18% decrease is the average for all types of property, and that the results for different property types may vary significantly from that number.

The reassessment showed a slight decline in the value of commercial property, which showed an average decrease of .64%. The average decrease for all residential property types was 3.96%.

The reassessment figure reflects the values of existing properties and does not include the value of new construction. New construction is valued at $129,565,800 for the reassessment period.

Virginia, unlike some other states, by Statute requires localities to assess property at 100% of fair market value, based on an objective analysis of the property’s fair market value,

independent of any influence on the part of the County or the County Board of Supervisors. Albemarle County continues to consistently rank among the most accurate jurisdictions in statewide Assessment/Sales Ratio studies conducted by the Virginia Department of Taxation.

The average annual reassessment changes for the magisterial districts are as follows:

Rio -2.25%

Jack Jouett -4.30%

Rivanna -2.12%

Samuel Miller -3.65 %

Scottsville -4.13 %

White Hall -3.19 %

Town of Scottsville -1.89 %

The new assessments will be reflected in the real estate bills which will be mailed in late April, 2010. County officials recommend that anyone who would like more information or who wishes to appeal their assessment to contact the Office of the Assessor in the Finance Department at (434) 296-5856. A list of Frequently Asked Questions is being sent to all property owners and will be available on the County website at www.albemarle.org beginning Monday, February 2.

There is a process in place to appeal disputed reassessments. As a first step, taxpayers are encouraged to contact the appraiser responsible for the valuation to insure the correctness of County records and to receive an explanation of the basis upon which the valuation was made. The deadline for requesting a review with the Assessor’s Office is February 27, 2010, and the Assessor’s Office recommends that citizens make an appointment. If a property owner does not receive satisfaction with this step, further appeal may be directed to the Board of Equalization, which is comprised of Albemarle County citizens who have completed training by the Virginia Department of Taxation and who meet on a regular basis.

Lee Catlin

Community Relations Director

Albemarle County, Virginia

(434)296-5841, ext. 3425 (office)

(434)531-8092 (cell)

Copyright RealCentralVA.com, LLC. If you like this post, please, visit RealCentralVA.comwhere this was originally posted.

One of the reasons people choose to relocate to (and stay within) Albemarle County is that our school systems are generally regarded as being quite good. Now that the Albemarle County Schools’ Budget/Funding request has been released, we need to do our part and see how we may help.

From the Albemarle County Public School Parents Council site:

The Superintendent’s Funding Request calls for $5.3 million in reductions, including:

• No salary increases of any kind for any employees; the projected 8 percent increase in health care costs and increased Virginia Retirement System expenses are covered by the request so employees will not receive a direct reduction in compensation for 2010-11;
• Increases in class size by one student in grades 4 through 12, a net loss of ~17 full-time equivalent teaching positions, many of which will be absorbed by attrition;
• Ten percent cuts in eligible operational budgets across the board for all schools and departments;
• Places hold on technology replacement and improvements;
• Reduces Learning Resources (textbooks, online resources, consumable materials) by $500,000;
• Reduces the transportation department by nearly $400,000, as efficiencies in routing, compensation, and program delivery are implemented. There will be fewer bus routes, longer bus ride times, expanded walk zones, and fewer bus drivers.
• Reduces professional development reimbursement funds by 50 percent.
• Introduces for the first time a student activities fee for athletic programs and reduces the programs we offer:
• A student activity fee of $75 per student, per sport, with a cap of $425 per family will be enacted.
• Freshmen athletic teams at Monticello High and Western Albemarle High will be eliminated.
• Junior Varsity coaching assistants will be eliminated at all high schools.
• Cuts instructional support funds for intervention and enrichment, CATEC, elementary and middle school summer school;
• Makes, for the third consecutive year, additional position cuts in at the central office, and in support services, including leadership reductions.

The Superintendent’s Funding Request is not balanced to current projected revenue. An additional $1 million in increased funds or further reductions must be made to meet current available revenue. The School Board will hold a series of budget work sessions in January, a Public Hearing on February 2, and another Telephone Town Hall on February 3 to hear feedback and concerns from the community. The Board may decide to revise the funding request before submitting it to the Albemarle County Board of Supervisors.

Please get involved.

Copyright RealCentralVA.com, LLC. If you like this post, please, visit RealCentralVA.comwhere this was originally posted.

• Saturday night #atthegym. I know, you’re jealous. #
• RT @mattdollinger: Calling all geeks – 15 Han Solo Lines to use in daily conversation http://bit.ly/7LUtS4 (God I love being me…) #
• Getting ready to see Peter & The Wolf with the kids (@ Martin luther king jr Performing Arts Center) http://4sq.com/8VWii2 #
• Just got a carwash at the “new” carwash on Ivy. 150% of profits go to a friend’s orphanage in Haiti. http://Fordhatianorphanage.org #
• RT @stevewhitaker: Speaking of pie. Ahem. http://www.virginiapiefest.com/ #
• RT @amywebb: Buy raffle tickets tomorrow:win 3 tkts to Taylor Swift in Charlottesville 3/20.For Murray Elementary http://tinyurl.com/yzm6lqx #
• Prepping to meet new buyer clients; discussing new construction. #
• Aargh. Posterous is down. http://bit.ly/8FmsEs #
• Edited for clarification and expansion of my thoughts. http://bit.ly/4N3sGO Specifically the use of “Herein” #
• @JohnDMcClung short sales & foreclosures aside, vernacular is that the Seller is the Seller, not the lender. #darnpoliticians in reply to JohnDMcClung #
• @JohnDMcClung I know; it’s the sort of political wording that leads to confusion amongst practitioners & politicians. in reply to JohnDMcClung #
• Maybe I’m missing something. When exactly does the Seller select the appraiser? http://post.ly/K8of #
• Great caller on @CSPAN just now “throw them all the hell out and start a *real* third party” response “…and we’ll leave it right there” #
• Up early, coffee and prepping for buyer meeting. #
• RT @amywebb: Buy raffle tickets tmrw: win 3 tkts to Taylor Swift in Charlottesville 3/20. Benefits Murray Elementary… #
• @jolenta Long day of showing ahead tomorrow; I’ll get it done tonight w/ @docusign’s help and be done. in reply to jolenta #
• Writing an offer … #
• RT @mrlerner: Animations of streets transforming from unwalkable to walkable: http://bit.ly/3Gx6uL via Urban Advantage [very cool] #
• RT @techhie: “Never again will the American taxpayer be held hostage by a bank that is ‘too big to fail.’” [I wish this were true] #
• Richmond Sunlight » HB1334: Littering; cigarette butts – Now *this* is a good idea http://post.ly/K2OA #
• Brownsville Elementary students holding a bake sale tomorrow for #Haiti – http://bit.ly/7kcG8j #
• RT @dcagle: HA! Check out Will Durst’s 2010 State of the Union Drinking Game! http://bit.ly/4RVDUv #tcot #p2 #
• Doing a market analysis for a buyer in ^Charlottesville; 3 out of 6 sold comps are foreclosures. I assume I don’t ignore those, right? #
• You know what would be helpful? If #RPR offered cell phone & highspeed internet overlays. @ReggieRPR or @MartyFrame ? #
• I’m not sure there’s anything better than wireless at a home inspection. #
• Irony or Oxymoron? http://post.ly/K1MX #
• RT @jjhutley: Thanks @JimDuncan for giving me a glimpse of what home buying will be like! [You're quite welcome!] #
• None of the real challenges are in the textbooks. None of ‘em. #
• Buyers and a home inspection today. Crucial busywork to be intermixed. #
• RT @jbouie: BREAKING: House Democrats divided on which brand of toilet paper they should buy! #uselessdems #
• Great meeting at @trailsidecoffee this morning. Little one had her own “play meeting”. Grateful Crozet has such a place #
• RT @chadratliff: RT @maurybrown: All Albemarle Schools will open 2 hours late today, Friday 1/22/10. http://bit.ly/4ptVYS #
• Hurry up and get home before they drop the salt & chemicals. It’s awfully rainy out here! #
• Time to catch up. Productive afternoon spent with buyers. #
• I have never been able to get on Mudhouse’s 29 North wireless. Today is not an exception. Dammit. #
• RT @superninjarobot: RT @orderTopia: Free lunch at Eppie’s from @orderTopia for lucky (retweeter) #7. RT to win. http://bit.ly/7pKUD6 #
• I just became the mayor of CAAR – Charlottesville Area Association of Realtors on @foursquare! http://4sq.com/6Q6v8N #
• RT @TomRoyce: @JimDuncan #RPR is still a worthy project, and ground breaking, if managed wisely. [Amen. Countering the past is a challenge] #
• Distrust of #RPR is pervasive. Shocking. Where is the outreach, promises to stay true to Realtor-only, non-public? #
• @PhxREguy 1) yet another reason not to write at AR 2) the author misspelled the 4th word in. Good Lord. #rtb in reply to PhxREguy #
• Crozet Library to Close? — RealCrozetVA http://post.ly/JmVg #
• Realtor Board meeting, meeting w/ a possible new listing, buyer meeting, radio, buyers. Tired & invigorated at the same time #
• @gubilla IMHO, Verizon offers the best coverage in Charlottesville area – including surrounding counties where I’m often showing houses in reply to gubilla #
• Verizon + Apple? http://bit.ly/8mwWJS I might finally be able to get an iPhone. #
• RT @ GuyKawasaki Poll: 81% support medical marijuana legalization [Virginia has a bill for this http://om.ly/eNqW http://ow.ly/YBtV ] #
• Good discussion at #smccville. Now to do a real estate blogging presentation/conversation. #
• Getting ready to learn about/discuss traditional & social media. I say it’s a symbiotic. #smccville #
• #SMCCVille’s Event today – Traditional Media and Social Media – If you can’t make it, ask questions using #SMCCVille http://post.ly/JcSM #
• RT @socialmediaclub: SMC Charlottesville hosts “Traditional Media and Social Media” today at 11:30am http://bit.ly/4qrp1D #
• Off to see a potential new listing in Crozet. #
• Losing Massachusetts to the Republicans. I guess that’s change someone believes in. #
• RT @shelisrael: AP calls it for Scott Brow to take Ted Kennedy seat. http://bit.ly/6f7liX [wow. post-match commentary should be interesting] #
• RT @johnchapin: is tired of getting snail mail. Info should be electronic, I shouldn’t need to own a shedder [Mail only M/W/F would work] #
• Great first meeting w/ new buyer clients tonight. Listening is so important; everytime I learn something new #
• RT @LaniAR: my feed reader says that Athol Kay is alive!!! http://is.gd/6CUH2 [hooray! I've missed him] #
• Stopped train Downtown is preventing me from getting my coffee fix before my 6:30. Awfully tempted to climb under the train #
• What is @TheHaven_TJACH: http://bit.ly/7EWXgQ #
• Crozet Library might close? http://bit.ly/7iYSxx #
• It’s not just me & my blackberry. I feel better now. http://post.ly/JSgx #
• RT @hanchettjim: New Alb. county report: massive Acme bldg in Crozet only 4 yrs into 10 yr enviro clean-up…more on CBS19 at 5. #
• Something’s changed; I’ve had to do 3+ battery pulls a day for the past 3 days on my BlackBerry Curve. #
• RT @DRPnet: RT @NeilSWilliamson: Albemarle ARB is weighing in on what level of tint is appropriate for a new church(good grief Charley Brown #
• One of the most common questions – when does the Charlottesville real estate market “heat up”? http://bit.ly/5YTCJ2 #
• RT @tgonser: @JimDuncan Dying to know the answer to “I love DocuSign but…” The blog image shows a red x.[try this http://bit.ly/4SCPdU ] #
• @chadratliff I firmly believe that we should go to year-round schooling. Of course, I suspect that teachers & students would oppose it in reply to chadratliff #
• Ah, Tuesday. Must be nice to be a kid in Albemarle County schools & have a 4-day weekend. #everydayisaworkday #
• RT @jmckeever: RT @HowardKurtz: Let Conan keep his characters. What would NBC do with a used masturbating bear? // no one wants to know #
• Residential Utility Monitoring « latitude38llc.com http://post.ly/JKgn #
• @paulmobley Both; a response to a trend in my own observations & conversations. Primarily coming from my clients’ respective integrations in reply to paulmobley #
• @mayaREguru @JBern @FrancesFlynnTho I also think that keeping the wave public may keep potential anti-trust tangents in check in reply to mayaREguru #
• RT @ReggieRPR: @martyframe @BLarsonMpls @MWurzer @JimDuncan talk #RPR and MLS fears at #ICNY http://bit.ly/5IZN3R #
• @jsheehan200 the wave isn’t giving me the “remove”option on the public bot. in reply to jsheehan200 #
• Client meeting over; time to go home. #
• RT @mayaREguru: @JBern @FrancesFlynnTho should be a private wave. @JimDuncan can you lock the wave back down?[can't figure out how to, yet] #
• RT @chris_stover: I don’t understand how/why 5th St. SW is one street over from 1st St. SE. Oh, Charlottesville roads [Cville's wonders ] #
• Seriously, I love our signs http://post.ly/JIqd #
• @ReggieRPR Think you could make my head less shiny in that video? Some virtual powder or something? in reply to ReggieRPR #
• RT @ReggieRPR: @FPO @jimreppond Sorry had some troubles…but it’s up now. http://bit.ly/5IZN3R #
• Big milestone achieved today. 4 of last 5 stories on RealCrozetVA.com written/submitted by readers. #
• At lunch,listening to a teacher interviewing another. Interviewer says “nobody never gets 100%” on the test. I wonder why. #
• @paulmobley I’m working on a video response; in reply to paulmobley #
• Showing a house; missing the #rtb conversation. #
• A real theme developing amongst my relocating clients is connecting and connectivity. Can #RPR help facilitate? #
• RT @amywebb Bank of A alone sitting on 750000 foreclosed homes #shadowinventory [so, if they have 750k, what % of the total is that?] #
• Thank you @nrvliving http://varbuzz.com/vote-for-convention-keynoters/ #
• Crozet efforts for Haiti – http://bit.ly/4A6d8x #
• @mayaREguru I’m going to try, but I’m showing houses at noon. One of the conundrums of what we do. in reply to mayaREguru #
• @MIrealestate @mayaREguru Has “professional” been defined yet? Where would the bar be set? #RTB in reply to MIrealestate #
• @jburslem if I remember that quote, he said “2 to 3 companies” not “real estate companies” – is there video? in reply to jburslem #
• @jolenta Where? on the Docusign tweet? It’s a video. in reply to jolenta #
• I love @Docusign … but … http://post.ly/J9FW #
• Long but productive day of showing houses over. Great clients made the day almost effortless. I learned a bit about Redfin’s downsides too. #
• @pkitano – thought you’d be interested in this discussion about Charlottesville & all local media – http://ow.ly/XofY #
• Sellers, you really should fix this sort of thing before you put your house on the market http://post.ly/J85J #
• C-Ville: Real Estate – NEW! January 2010: Real Estate http://post.ly/J6r0 #
• @Ines I’d keep the heels. They’re likely to have less surface area than my shoes as well as have more mitigating appeal. Definitely keep ‘em in reply to Ines #
• Getting ready to show a few houses in the rain; wearing slip-off shoes so as to be respectful to the sellers #
• I’d like to be able to search the MLS with a “has sidewalks” filter. #

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Left as a message via the message box on the right last night:

I’m looking for a house, but can’t find what I’m looking for east of town in the right price range. When do you think the “season” will begin and we will see more of a variety of listings on the market?

Generally the market starts to see more listing activity in the February/March timeframe. These are just the new listings in Charlottesville and Albemarle over the past four years. What this doesn’t show is what percentage of these listings sold or what their prices were … that’s a story for another day.

If you’re interested in more detailed market reports about the Charlottesville regional real estate market, you may be interested in these reports:

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Our MLS, Solid Earth, has just released some new statistical reports. They’re pretty darn great. Unfortunately, they are for the entire MLS – not just Charlottesville, Albemarle, Fluvanna, Greene, Lousia and Nelson.

As far as I can tell – this is the Moving Median Price for the past five years for the entire MLS … which incorporates way more than just the Charlottesville MSA.

And this is the the Moving Average for the past five years:

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Update 31 December 2009:
Charlottesville Tomorrow reports that the purchase price was $9.8 million dollars. If nothing else, this transaction proves that government does have the ability to move expediently and efficiently. Read the whole story.

In short,

The reporting on this story is a prime example of why we need a press that has the time and resources to track a story. Thanks, Daily Progress and Charlottesville Tomorrow.

There will be much more to come on this story in the coming days and weeks.

More at the Charlottesville Bubble Blog and cvillenews.

Asked about the financial impact on investors who paid a reported $46.2 million for the land in 2005, Payne said “the investors will not come out whole and no one is getting a windfall.”

According to the deed records, Craig intends to pursue Virginia Land Preservation Tax Credits and federal charitable deductions. The state credits are an incentive for property owners to permanently protect undeveloped land and are available for 40 percent of the appraised value of the property. The property is currently assessed by Albemarle County at almost $44 million.

‘Bargain sale’

“This is what is known legally as a ‘bargain sale,’ when there is a reduced cash payment and the seller applies for tax credits,” said Bryant in an interview. “We have determined that this project is eligible for land preservation tax credits. The seller will have to apply in the 2010 calendar year and it will be up to the state Department of Taxation to act on their application.”

The amount of those tax credits has not yet been determined, according to Bryant, and will be a matter for Craig to resolve with the department of taxation.

Since this story was first reported by The Daily Progress and Charlottesville Tomorrow earlier this month, Albemarle County officials have also expressed concerns about the loss of a quality neighborhood project and the loss of proffers that would help build community infrastructure.

The 800 developable acres, and 400 acres originally proposed for a county park, are between Route 20 and Old Lynchburg Road south of Charlottesville, in one of the county’s designated growth areas. Urban development is only permitted in about 5 percent of the county’s land.

“The county has not been involved in the recent Biscuit Run transaction and did not have any authority or ability to influence the decision one way or another,” said County Executive Robert W. Tucker Jr. “We will work cooperatively with state officials to create the most positive possible outcome for the community and to realize the maximum benefits of the park, which include protected land for our residents and a boost to our tourism industry.”

With no mention of the purchase price …

From Governor Kaine’s office:

RICHMOND – Governor Timothy M. 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 property is a real jewel and I am very pleased to add it to the long list of properties preserved during my Administration.”

This purchase will add to the goal of 400,000 acres of open space preserved during Governor Kaine’s Administration.

“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. Jefferson’s Monticello estate and farms,” said Secretary of Natural Resources L. Preston Bryant, Jr.

“The need for a state park in this region has been identified for more than 20 years in Virginia’s official Outdoors Plan,” said Joseph H. Maroon, director of the Department of Conservation and Recreation, which operates 35 Virginia State Parks, none in the immediate Charlottesville area. “This purchase brings us closer to meeting the recreation and conservation needs of the region and the Commonwealth and will bring additional tourism and outdoor recreation dollars to the area.”

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. The ability to apply for state land preservation tax credits allowed the sellers to offer the property to the state at a greatly reduced price.

The Daily Progress and Charlottesville Tomorrow have been carrying the freight on this story of late.

9 December – Biscuit Run may become a state park – Charlottesville Tomorrow

28 December – Windfall for Biscuit Run developer? Tax credits could become cash – Daily Progress

30 December – Biscuit Run is Almost a State Park – Daily Progress

The Charlottesville Bubble Blog perhaps said it best:

The Breeden Family made $46.2 Million selling the parcel in 2005 to Hunter Craig. This was at the peak of the bubble–the smartest real estate transaction ever completed in this area, and one which allowed other land and home sellers to maintain champagne dreams for years.

Let’s see … they sold it for $46.2 million and it’s not going to be developed? Well played.

Update 31 December: Neil Williamson with the Free Enterprise Forum raises some important and valid points. We may be setting ourselves up for future failure by further restricting the growth areas in Albemarle County.

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Biscuit Run is Sold to State to Become State Park

]]> http://www.realcentralva.com/2009/12/30/biscuit-run-is-almost-a-state-park/feed/ 3 http://www.realcentralva.com/2009/12/30/homebuyer-tax-credit-in-2010-whos-eligible/ http://www.realcentralva.com/2009/12/30/homebuyer-tax-credit-in-2010-whos-eligible/#comments Wed, 30 Dec 2009 13:15:06 +0000 Jim Duncan http://www.realcentralva.com/2009/12/28/homebuyer-tax-credit-in-2010-whos-eligible/

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Homebuyer Tax Credit in 2010 – Who’s Eligible?

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Part 3 of – see bottom for links to each post in the series.

I’ve made no secret about my opinion that there should not be a tax credit for purchasing homes – or cars or any other cherry-picked segment of the American economy. But … I called and emailed my Congressman and Senators and they voted for the credit. What I think no longer matters. What matters is how buyers in the Charlottesville area can takes advantage of the homebuyer tax credit.

Tax Credit: Who qualifies for the homebuyer tax credit?

First time homebuyers – those who have not owned a home for the previous three years.

“Move-up” homebuyers. Those who have owned a home and are selling their primary residence. Rather than refer to this segment as “move-up” buyers, I’m deeming them “lateral” or “trading down” buyers. I foresee that those taking advantage of the $6,500 tax credit will be those selling larger houses and trading down to more appropriate sizes for them.

What will be the impact on the Charlottesville real estate market? Unknown. Last year we saw a slight surge in activity based on the first time homebuyer tax credit. I suspect we’ll see some more of that in 2010.

But … if the primary reason you’re buying a home in Charlottesville is to take advantage of the tax credit – maybe you should ask yourself some more questions about your buying motivation.

Calculate Risk – Government Housing Support Update – this story is a must read to get a basic foundation on some of the government programs out there designed to prop up the housing market.

From NAR

Tax Credit information on RealCentralVA

HR 3458 – For our purposes, known as the “homebuyer tax credit act“

From the National Association of Realtors:

Who Qualifies for the Extended Credit?

• First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.

• 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.

To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

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.

Which Properties Are Eligible?

The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Is Available?

The maximum allowable credit for first-time home buyers is $8,000.
The maximum allowable credit for current homeowners is $6,500.

How is a Buyer’s Credit Amount Determined?

Each home buyer’s tax credit is determined by two additional factors:
1. The price of the home.
2. The buyer’s income.

Price

Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.

Buyer Income

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.
These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits. 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.

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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?
Part 4 – Strategic Defaults in Charlottesville – What will 2010 look like?
Part 5 – Green building trends in Charlottesville

Podcast of the full hour show and transcript.

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Homebuyer Tax Credit in 2010 – Who’s Eligible?

]]> http://www.realcentralva.com/2009/12/30/homebuyer-tax-credit-in-2010-whos-eligible/feed/ 0 http://www.realcentralva.com/2009/12/28/quick-charlottesville-real-estate-market-update-end-of-2009/ http://www.realcentralva.com/2009/12/28/quick-charlottesville-real-estate-market-update-end-of-2009/#comments Mon, 28 Dec 2009 19:38:09 +0000 Jim Duncan http://www.realcentralva.com/2009/12/28/quick-charlottesville-real-estate-market-update-end-of-2009/ Predictions and Prognostications: The "bottom" of the Charlottesville real estate housing market may come in the third or fourth quarter of 2010. ... I have no idea, and if I told you, I'd be lying. 2010 is likely to bring more moderated prices, with increased transactional volume. 2010 will see higher interest rates, that will still be remarkably low. ... Please let me know if you would like to see any specific information or data) More on Home Sales - Charlottesville/Albemarle 2006 2007 2008 2009 More on Home Sales - nationally New-Home Sales Drop 11.3% As Impact of Stimulus Fades Home Sales up as Buyers Respond to Tax Credit - National Association of Realtors (read with the biased grain of salt) Why U.S. ...For the new-home sales, the decisions were made in November, when there was no such scramble to qualify for the tax credit.

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Quick Charlottesville real estate market update – End of 2009

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Part of a series derived from the Wake-up Call on WNRN on 27 December.

The more I analyze the Charlottesville regional real estate market, the more I am concluding that 2004-2008 are nearly irrelevant to the 2010 real estate market. Everything is different today.

Just for residential real estate in the City of Charlottesville and the County of Albemarle -

Update 30 December 2009: I’m thinking there should be a ? after “Statistical Anomaly” above. I can’t explain it, but that doesn’t necessarily mean it’s an “anomaly.”

Predictions and Prognostications:

The “bottom” of the Charlottesville real estate housing market may come in the third or fourth quarter of 2010. I may be wrong, and reserve the right to alter this prediction until I have the benefit of hindsight. We’re not going to know when the bottom is or was until we are able to have historical relevance.

If you’re buying a home and your not an investor, focus on buying a home. A place to live, to love, to come home to, to enjoy.

2010 is going to bring more foreclosures and short sales in the Charlottesville market. How many? I have no idea, and if I told you, I’d be lying.

2010 is likely to bring more moderated prices, with increased transactional volume.

2010 will see higher interest rates, that will still be remarkably low.

(Full, deep analysis of 2009 Charlottesville area real estate market coming in the second week of January. Please let me know if you would like to see any specific information or data)

More on Home Sales – Charlottesville/Albemarle

2006

2007

2008

2009

More on Home Sales – nationally

New-Home Sales Drop 11.3% As Impact of Stimulus Fades

Home Sales up as Buyers Respond to Tax Credit – National Association of Realtors (read with the biased grain of salt)

Why U.S. Home Sales Are Both Up and Down – excellent article from the Wall Street Journal.

We can’t blame you for being confused about housing. Tuesday, the market cheered a surge in existing-home sales. Then comes today’s news that new-home sales slid 11.3% in November, falling to the lowest level since April.
Up, down. Up, down. What gives?

Though the two reports both concern home sales in November, they aren’t really in synch and so aren’t comparable. The National Association of Realtors records existing-home sale data when the home closes, while the government records new-home deals when contracts are inked.

For home resales, there is typically a lag of a month to six weeks between the signing of contracts and the closing. So most of the November sales reported by the Realtors are based on decisions buyers made in September or October. At that point, lots of people were scrambling to buy homes in time to qualify for a tax credit that was due to expire Nov. 30. (It was later extended through April 2010.)

For the new-home sales, the decisions were made in November, when there was no such scramble to qualify for the tax credit.

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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?
Part 4 – Strategic Defaults in Charlottesville – What will 2010 look like?

Podcast of the full hour show and transcript.

Update 30 December 2009: Responding to a comment on the Bubble Blog – My reasoning for marking that as a statistical anomaly (and maybe should have had a ? after it) was due to the spike from 18 to 25 months of inventory from October to November 2009. And then 19 to 32 months … I just can’t explain the spikes, and that is my reason for questioning them. (Further, I don’t trust the MLS data 100% – probably closer to 75% due to user error and manipulations with new construction and such.)
You don’t have to agree with me, or even like me, but I’m not hiding anything and welcome discussion and conversation – it’s how I (and we) learn.

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Quick Charlottesville real estate market update – End of 2009

]]> http://www.realcentralva.com/2009/12/28/quick-charlottesville-real-estate-market-update-end-of-2009/feed/ 0 http://www.realcentralva.com/2009/12/27/charlottesville-real-estate-radio-wnrn-27-december/ http://www.realcentralva.com/2009/12/27/charlottesville-real-estate-radio-wnrn-27-december/#comments Sun, 27 Dec 2009 23:25:23 +0000 Jim Duncan http://www.realcentralva.com/2009/12/27/charlottesville-real-estate-radio-wnrn-27-december/

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Charlottesville Real Estate Radio – WNRN 27 December

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Listen to the podcast at Charlottesville Podcasting Network.

Once again, an hour wasn’t enough. It never is. Thanks to Rick Moore and WNRN for the opportunity and Charlottesville Podcasting Network for the podcast.

I read more so you don’t have to.

If you’re thinking about buying a home in the Charlottesville area in 2010, when should you begin looking?

Answer: now.

Prepping to sell a house in Charlottesville.

Prepping to buy a home in Charlottesville.

I’m doing something differently this time. I’m posting the links to most of the subjects we discussed, but will be elaborating and expanding on them for throughout the course of the week. While we may have discussed each issue for only a few minutes, I think that each one warrants a separate blog post so as not to be missed.

So, skim these links or wait until the posts come out. I’m also going to post the transcription when it’s done.

Strategic Defaults:

Strategic Defaults: Naughty or Nice?

Walking Away From The House She Can Afford

If Morgan Stanley Walks Away, Why Shouldn’t You? Firm Walks Away From 5 Properties

Short Sales:

11 Short Sale Frequently Asked Questions

Short Sale Help – HAFA

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

Biscuit Run may become a park:

Update 28 December 2009: Windfall for Biscuit Run developer? Tax credits could become cash (at the Daily Progress. h/t Charlottesville Bubble Blog)

- Charlottesville Tomorrow

- cvillenews

- The HooK

Tax Credit: Who qualifies for the homebuyer tax credit?

First time homebuyers

“Move-up” homebuyers.

From NAR

Tax Credit information on RealCentralVA

HR 3458 – For our purposes, known as the “homebuyer tax credit act“

More on Home Sales – nationally

Why U.S. Home Sales Are Both Up and Down

New-Home Sales Drop 11.3% As Impact of Stimulus Fades

Home Sales up as Buyers Respond to Tax Credit – National Association of Realtors (read with the biased grain of salt)

More on Home Sales – Charlottesville/Albemarle

Predictions and Prognostications:

Prepped but Didn’t Get to:

U.S. Lifts Limit On Aid To Fannie, Freddie

Shadow Inventory

The nationalization of America’s mortgage problem

Resources for Accidental Landlords

As Slump Hits Home, Cities Downsize Their Ambitions
Fannie, Freddie and the Struggles of HAMP

OFHEO – Rankings by *Metropolitan Statistical Areas and Divisions Percent Change in House Prices with MSA Rankings** Period Ended September 30, 2009

OFHEO says Charlottesville real estate has appreciated over 5 years

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Charlottesville Real Estate Radio – WNRN 27 December

]]> http://www.realcentralva.com/2009/12/27/charlottesville-real-estate-radio-wnrn-27-december/feed/ 2 00:01:01 Listen to the podcast at Charlottesville Podcasting Network. Once again, an hour wasn't enough. It never is. Thanks to Rick Moore and WNRN for the opportunity ... Listen to the podcast at Charlottesville Podcasting Network. Once again, an hour wasn't enough. It never is. Thanks to Rick Moore and WNRN for the opportunity and Charlottesville Podcasting Network for the podcast. I read more so you don't have to. :) If you're thinking about buying a home in the Charlottesville area in 2010, when should you begin looking? Answer: now. Prepping to sell a house in Charlottesville. Prepping to buy a home in Charlottesville. I'm doing something differently this time. I'm posting the links to most of the subjects we discussed, but will be elaborating and expanding on them for throughout the course of the week. While we may have discussed each issue for only a few minutes, I think that each one warrants a separate blog post so as not to be missed. So, skim these links or wait until the posts come out. I'm also going to post the transcription when it's done. Strategic Defaults: Strategic Defaults: Naughty or Nice? Walking Away From The House She Can Afford If Morgan Stanley Walks Away, Why Shouldn't You? Firm Walks Away From 5 Properties Short Sales: 11 Short Sale Frequently Asked Questions Short Sale Help - HAFA 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 Biscuit Run may become a park: Update 28 December 2009: Windfall for Biscuit Run developer? Tax credits could become cash (at the Daily Progress. h/t Charlottesville Bubble Blog) - Charlottesville Tomorrow - cvillenews - The HooK Tax Credit: Who qualifies for the homebuyer tax credit? First time homebuyers "Move-up" homebuyers.From NAR Tax Credit information on RealCentralVA HR 3458 - For our purposes, known as the "homebuyer tax credit act" More on Home Sales - nationally Why U.S. Home Sales Are Both Up and Down New-Home Sales Drop 11.3% As Impact of Stimulus Fades Home Sales up as Buyers Respond to Tax Credit - National Association of Realtors (read with the biased grain of salt) More on Home Sales - Charlottesville/Albemarle Predictions and Prognostications: Prepped but Didn't Get to: U.S. Lifts Limit On Aid To Fannie, Freddie Shadow Inventory The nationalization of Americarsquo;s mortgage problem Resources for Accidental LandlordsAs Slump Hits Home, Cities Downsize Their Ambitions Fannie, Freddie and the Struggles of HAMP OFHEO - Rankings by *Metropolitan Statistical Areas and Divisions Percent Change in House Prices with MSA Rankings** Period Ended September 30, 2009 OFHEO says Charlottesville real estate has appreciated over 5 years Albemarle,,Charlottesville,,General,Real,Estate,,Shameless,Self,Promotion jim@realcentralva.com no No