Top 3 Mistakes Home Buyers Make

I’ve seen a lot of mistakes. I’ve made a lot, and I’ve guided a lot of my clients away from making mistakes.

A few common mistakes (there are a lot more than 3!)

  1. Not knowing what your comfortable price range is. Sometimes it’s lower, sometimes it’s higher than you expect, but knowing your comfortable price range is critical.
  2. Not knowing the context of the house you’re considering. There’s way more to a house than the four corners of the property. (what are your triangles?) The house matters, but so does the neighborhood. And the road leading to the neighborhood. And the development that’s possibly coming down the road that will affect the roads leading to your neighborhood and home.
  3. Not reading Charlottesville Tomorrow. See 2.
  4. Not considering resale value. See 2 as well.
  5. Trying to negotiate directly with unrepresented sellers*. Buffers matter. I’ve represented buyers buying homes from unrepresented sellers, and I’ve made the mistake myself of buying a home from an unrepresented seller. Emotions are powerful things, and they cloud judgement.
  6. Not factoring in costs of utilities and committing. (I’m seeing this mistake far less often than I did five years ago)
  7. Working with the wrong agent – not all agents practice equally, and not all agents and buyers are good fits.
  8. Not asking questions. There are a lot of questions that buyers should be asking; I try to help my buyers ask better questions.

Have a question? I’m here. 434-242-7140 or jim@realcentralva.com

Albemarle and Charlottesville are Growing

Charlottesville Tomorrow reports that Albemarle and Charlottesville are growing.

The center estimated Charlottesville had a populationat 47,783 as of July 1, 2014, up from 43,475 in 2010.

Albemarle is estimated to have increased by 4.8 percent with a population of 103,707 as of July 1, 2014.

“Estimates are produced using demographic indicators, such as births, deaths, home construction or fiscally responsible school data, to estimate the current population,” Lombard said.

Anecdotally, anyone paying attention knew this, but it’s useful (and interesting) to see the data.

Let’s hope politicians and the People are paying attention.

7 Sunday Reads

From Thin Mints to the whether consumers are demanding bigger or tinier apartments to whether the suburbs are dying … these are a few interesting stories with relevance to the Charlottesville real estate market.

Is Charlottesville – Albemarle Infrastructure Ready for Population Boom?

Charlottesville Albemarle Population growing

If this map and data are anywhere close to accurate (thanks CityLab for pointing it out), there are going to be a lot more people living in the Charlottesville/Albemarle region in 20 years. What are the localities doing to prepare the infrastructure – roads, bike lanes, power grid – to accommodate these folks? I ask in part […]

Nest’s 2014 Market Report

2014 Annual Report -Charlottesville MSA

Read the report, digest, ask questions. I won’t bore you by pulling out stats here in the post; you’re intelligent. Download it for yourself … generally: the market is stabilizing to improving. Download Nest’s 2014 Charlottesville Market report. Despite my above preface, here are a few quick facts: New Construction: – New construction total # […]