Category Archives: Greene
Where to Search for Rentals in Charlottesville
Courtesy of the C-Ville blog citing a newsletter from the Charlottesville Area Association of Realtors – All those home builders banking on selling houses to new National Ground Intelligence Center (NGIC) employees may be in for a rude awakening.
… Posts of enduring interest for buyers This is where I point prospective buyers/renters – the rental market is far more fragmented with the “for sale” market – The HooK’s classifieds C-Ville’s classifieds Daily Progress Blue Ridge Apartment Council Craigslist Charlottesville MLS While I make my living representing buyers and seller clients, often it is in their best interest to rent for at least six months to get a feel of the area, a lay-of-the-land, if you will. Continue reading
Better to Beg Forgiveness Than Ask Permission
With ceilings placed higher than the storage space maximum, the basements become a new floor on the buildings that could be occupied for future offices, thus requiring Wood to build 200 additional parking spaces , or seek a waiver from that standard. … Because we have heard storage is actually laboratory space as well, so we are trying to get a better handle on what the real use of this space is,” said Graham. Continue reading
2nd Quarter Market Update for Charlottesville Region
I’m not saying that we haven’t hit the bottom, but that calling it as such with so many unknowns and new variables in the equation would be the wrong thing to do right now, despite Lawrence Yun’s statement – ” Without Forecasts, we don’t look credible .” The Realtor update (1): 1st half 2005 : 115 had more than ten sides, 296 had more than five sides, 679 had at least one, with about five hundred or so not having a single transaction 1st half 2006 : 107 had more than ten sides, 285 had more than five sides, 740 had at least one, about four hundred fifty not having one. 1st half 2007 : 73 had more than ten sides, 232 had more than five, 687 had at least one, about four hundred with zero 1st half 2008 : 44 had more than ten sides, 169 had more than five, 619 had had least one, leaving about seven hundred with zero transactions so far this year. (out of 1201 sold residential properties) From the DP on Saturday : Many real estate agents may not manage to weather the moribund market before it solidly rebounds, Savage said. Continue reading
One of the differences between Albemarle and Greene Counties
Albemarle County has an Architectural Review Board that micromanages minutiae.Greene County does not.Both Wal-Mart and Lowe’s said they will begin building their new stores there in the spring and fall, respectively. They will serve as anchors for the Gateway Center, a new retail shopping center in Greene County.Unlike other shopping centers, there isn’t an artist’s rendering available for the Gateway Center; the future of the site’s appearance depends on which businesses move in….“There will be space for smaller retail stores to lease, but the exact location and design have yet to be determined,” Hughes said….Officials know the layout of the site, said Steve Catalano, chairman of the Greene County Board of Supervisors. However, the county doesn’t have an architectural control committee….Catalano said the board did request that the site have “a tasteful appearance.”… The closest “big-box” stores are in Culpeper, about 45 minutes north and Charlottesville, about 20-30 minutes south. Continue reading
3rd Quarter Market report for Charlottesville area real estate market
Prices are falling in many markets, which complicates the delinquency equation as many mortgages continue to reset at higher rates and higher monthly payments.The new Charlottesville report seems to have less spin than many of the previous ones, which is beneficial to everybody – buyers and seller, the public, the media and the Realtors (and their credibility).One aspect of the report that needs clarification is this – when looking at non-locality-specific numbers, the numbers they use are for the entire MLS, not just our market area, which I have noted several times before skews the numbers.In the City of Charlottesville, Albemarle, Fluvanna, Greene, Louisa and Nelson Counties, as of 14 October, 2007:There are 2,492 properties actively on the market right now.2,444 properties have sold since the first of the year…. There are 367 homes under $200k on the market (and I don’t have the ability to do the average DOM for that many properties) and there are 170 homes over one million dollars on the market.A few choice quotes from the report, decidedly un-spun:In the early part of the decade, we saw extremely low inventory levels of around 4 or 5 months of supply…. Prices will continue to rise slowly and inventory will continue to be the big story in the market.Take note: the lenders do not consider the Charlottesville area a “declining market,” which is declared after a market has witnessed several consecutive quarterly declines. From an email from one of the lenders with whom I work : Northern Virginia is getting hammered; these counties are listed as being “declining markets” – Fairfax, Arlington, Clarke, Spotsylvania, Stafford, Warren, Fauquier, Prince William, Loudoun, Including the following cities: Alexandria, Fairfax, Falls Church, Fredericksburg, Manassas, Manassas Park – sharing the page with Florida and California.
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Charlottesville area listing inventory numbers
Without a way to determine whether these were changes upwards or down, this is honestly a bit of a shot in the dark; my very educated guess is that these price changes in 2007 were more down than up.Witness this new construction property in Crozet that came on the market last June – it started at one million three hundred forty nine thousand and was just reduced to $899,000!—NB: Contrast what follows with what was released in yesterday’s End of 2006 market report:One factor that affects the DOM statistic is inventory…. Including only our MSA (Albemarle, Charlottesville, Greene, Fluvanna and Nelson), there are as of 10 January 2006, 1672 properties actively on the market…. For example, there are 184 properties on the market in Madison and Orange Counties – at least 35-45 minutes north and north east of Charlottesville. There are 14 on the market in Rockbridge County (home of my alma mater) – at least an hour and fifteen minutes away (realistically 90 minutes).Less inventory is a good thing, at least in this transitional market.* Albemarle, Charlottesville, Greene, Fluvanna, Nelson* This post was inspired by Rob’s continuous tracking of his market.
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Central Virginia development moves on
The traffic study work session next month should be interesting.As always, Cvilletomorrow has much more information as well as a podcast of the planning commission’s meeting.Wal-mart is finally coming to Greene County!… There has been much discussion locally about the merits of Wal-mart, but I do know that my clients in Greene will welcome this addition to their community. Soon they won’t have to go to Culpeper or CharlAlbemarle, Yesterday at an open house for a new development, I was interested to see that their solution, as approved by the County, to the affordable housing situation is to provide affordable “accessory apartments…. More at the County’s website.Fluvanna’s clustering is moving forward and Daniel has his thoughts on the newest Fluvanna development.Housing inventory is up, but development plugs on, and for many, that’s a good thing.
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Housing numbers are down
And inventory is up.
Rates are low.
Home price appreciation is slowing.
Inventory is up. Significantly.
note: as soon as I figure out how to upload an image via coding, rather than depending on my normal program, I will.
Regarding NAR’s press release: They have an obligation to present the facts, and their best opinions. Everybody has opinions and interpretation of data. Assumptions and conclusions may (and usually do) differ.
Take this for example:
Total existing-home sales – including single-family, townhomes, condominiums and co-ops – dipped 1.9 percent to a seasonally adjusted annual rate of 6.18 million units in
