Category Archives: Nelson
Real Estate Assessments in the Charlottesville area – Still Declining?
Real estate assessments matter to market value insofar as they impact the psychological perception of value.
Do Real Estate Assessments Matter?
What do real estate assessments mean?
From a visitor:
… tidbit of info. – Nelson Co. assesses real estate every 5 years. I just received the assessment of our second home in Wintergreen. In 2006 it assessed at $599K, now $385K — down 36%
2012 is going to prove very interesting in the Charlottesville region.
Case Shiller’s Perspective on the Charlottesville Real Estate Market
Case Shiller doesn’t track the Charlottesville real estate market. Nor Albemarle, Greene, Fluvanna, Nelson, Waynesboro, Augusta … Case Schiller doesn’t track Charlottesville.
I wrote in early 2008 that The Charlottesville/Central Virginia/Shenandoah Valley markets are not covered by the Case-Shiller index. Real estate is local; while trends may be drawn from this type of research, and while the proverbial turned-corner may still be just over the horizon, it’s important to put his study in the appropriate context.
Crap. That “horizon” to which I referred is still a ways off. But … what I said remains true. Case Schiller doesn’t track our market.
But.
Blue Mountain Brewery is Growing
Blue Mountain Barrel House and Organic Brewery is a 10,000 square foot production-only facility for the 10 lines of Blue Mountain beer that will be kegged or bottled in 750ml corked bottles and undergo 100% natural refermentation. … The advantages of the Colleen Business Park, water quality, as well as the opportunity to expand in the same locality are the reasons that Blue Mountain chose Nelson County for the site of its production facilities. … Although the two breweries will be production-oriented and not include a restaurant area such as the Blue Mountain Brewery pub in Afton, there will be a tasting area at both facilities, as well as a beer garden patio shared by both breweries for public tours and tastings. … “The CVEC Board of Directors was enthusiastic in authorizing the sale of land to Blue Mountain Brewery because these two production and bottling operations fulfill the purpose of developing the Colleen Business Park in partnership with Nelson County and the Service Authority.” Continue reading
Higher Loan Limits for the Charlottesville MSA
The national loan limits for Freddie and Fannie remain at $417,000, but because we are in a “high cost” area, our limits have been expanded to $437,000. … Now, the very good news is that FHA has raised their limits to $417,000 nationwide and $437,000 locally ( Charlottesville, Albemarle, Greene, Fluvanna, Nelson (excel file). Continue reading
Charlottesville market report coming Monday
While I had planned to release the market report for the Charlottesville market today, I have noticed that even properties that closed ten days ago have not yet been closed in the MLS. In an attempt to provide the most accurate data, I’m going to wait until Sunday afternoon to write the report. (and I still need to find the best report to present the median price) Thanks for your patience. Continue reading
Fiber in Nelson County?
This would expand the market for people looking to live in an area as remarkably beautiful as Nelson, but be able to to telecommute.
Continue reading
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.
Continue reading
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
