Category Archives: Buyers
Deciding to NOT Move To Charlottesville – How Much is That Worth?
How much would a customer/buyer be willing to pay for the advice to *not* move to Charlottesville?
A few weeks ago, I spent a full day with prospective Charlottesville residents, wonderful people who were evaluating whether Charlottesville is right for them. Ultimately, with my help, guidance, expert advice and insight, they decided that Charlottesville is not the right place for them. (that’s ok, Charlottesville’s a great place to live, but we can’t be everything to everyone!)
Thank you so much for spending the day with us in Charlottesville. You should be hired by the Chamber of Commerce, you are absolutely a great cheerleader for your town.
My question is – what is coming to that decision worth?
Year-End Review of the Charlottesville Real Estate Market
So far* in 2011, more homes have sold this year in Charlottesville and Albemarle than sold last year in the same timeframe. Who knew?
Listen to the podcast of my discussion with Coy Barefoot as we look back at the 2011 Charlottesville real estate market and a look forward to 2012.
Year End Review of the Charlottesville Real Estate Market [ 17:42 ] Play Now | Play in Popup | DownloadI’m not saying that the depression is over, but the fact that more homes have sold in Charlottesville and Albemarle, year over year, is a good thing. That the outlying counties’ numbers are down is due to a slew of factors, from foreclosures and short sales to people acting on their desires to be close to stuff. Walkability=Affordability=Profitability=Livability
Attitudes of Young Americans Bode Ill for Housing Recovery (Forbes) – This is something that is going to affect all real estate markets, not just Charlottesville’s, for years (decades?).
The lack of assets isn’t the only encumbrance to housing: Echo Boomers value education, people and leisure more than other American generations. Of the Echo Boomers I spoke with, 13% were homeowners, yet less than a third reported interest in owning a home someday (with female Echo Boomers wanting homes more than male Echo Boomers). They preferred graduate degrees, living in social areas (not suburbs) and freedom instead of homeownership. A few of these Echo Boomers will need a decade to pay off their student loans after which another large loan, like a mortgage, might lack appeal. And while suburbs seem to offer community and safety, they also add transportation costs with a lack of social diversity.
Goodbye, 0-5 Buyer -OR- Finance a House or an Education? (RealCentralVA)
People are staying in their homes longer – whether by choice or necessity. If selling is not a viable option, you need to fall in love with your house all over again.
Residential Remodeling Index at new high in October (Calculated Risk)
Now in Vogue: Practical Remodeling (Wall Street Journal)
UVA Credit Union’s Power Saver Loan-
These new PowerSaver loans will offer qualified homeowners up to $25,000 to make energy-efficient improvements of their choice, such as replacement doors and windows, metal or asphalt roofs, HVAC systems, water heaters, insulation, duct sealing, solar panels, ground source heat pump systems and more.
Interest Rates are still historically low – and they won’t start to matter until they rise.
Shadow Inventory – What will it’s affect be on the Charlottesville real estate market?
(thanks to KCM Blog for pointing this out) Continue reading
Thinking about Buying or Selling in the Spring?
If you’re thinking about buying a home or selling a home in the Charlottesville area in the spring, these are three stories of interest:
1 – When do homes come on the market in Charlottesville? Short answer: Spring. Longer answer: look at the data.
2 – Preparing to Sell a House in Charlottesville – Step one: start the process now. (get the right representation)
3 – Preparing to buy a home in Charlottesville – Step one: ask questions. Step two. Get representation.
There is sooo much more to write, (I’m approaching the 7 year anniversary of this little blog) but … Continue reading…
Showing property in my office
This is how I showed houses last week – from the comfort of my office. Technology is fun. When it works.
This phase of the process was all about eliminating geographical areas of Charlottesville-Albemarle. Once we accomplished that phase, we were able to have a much more productive time in the car.
FHA and Condos in Charlottesville – Are they Eligible?
Guest post from Matt Hodges with Presidential Mortgage*:
Condominiums are a challenge to finance through FHA. Condominiums had a brief period when lenders overlooked eligibility and approved every loan, as long as the borrower was qualified – that period ended some four years ago.
Today, condominiums are one of the most difficult forms of residential real estate to finance, perhaps with manufactured housing more difficult. Using a search of “Charlottesville” condominiums in the FHA search tool, 19 condominium complexes appear. Hey, good news, right? Not so quick. Eight of those complexes have expired and four more will … Continue reading…
Uncertainty Sucks.
Dear Congress: You kinda suck. And you’re negatively affecting the economy, just by being there.
From a client:
All of this debt ceiling nonsense has me a little freaked out that no matter what those fools in Washington wind up doing, the interest rates on mortgages are going to climb and I fear they will climb a lot by next spring…
I know I’m not alone in having unsettled clients thanks to Congress’ incompetence. Continue reading
