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.

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)*”So far” is defined as 1/1/11 – 12/1/11 vs 1/1/10 – 12/1/10.

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The average reassessment increases or decreases, by magisterial district, are:

- Rio: .81 percent
- Jack Jouett: .43 percent
- Rivanna: .57 percent
- Samuel Miller: minus 1.18 percent
- Scottsville: 1.4 percent
- White Hall: minus .79 percent
- Town of Scottsville: minus .46 percent.

The County’s website has not yet been updated, but hopefully will be shortly.

Contrast the above numbers with last year’s assessments -

The average annual increases for specific magisterial districts are as follows (biennial increases are in parenthesis):

- Rio                                          13.57 % (27.14 %)
- Jack Jouett                            11.27 % (22.54 %)
- Rivanna                                  14.98 % (29.96 %)
- Samuel Miller                        15.64 % (31.28 %)
- Scottsville                              15.54 % (31.08 %)
- White Hall                              16.72 % (33.44 %)
- Town of Scottsville                15.93 % (31.87 %)

Get caught up on assessments with this story from last week, this one from two weeks ago (with my offer to homeowners for help contesting assessments). Albemarle’s real estate taxes page has basic information.

Property taxes pay for many, many things, notably schools. Visit Brian’s excellent school board blog for the context of this quote:

So, depending on how you look at it, the school system is 45%, 47%, or 61% (adding debt, capital, self-sustaining) of the County budget and property taxes contribute either 62% or 45%.

I’d argue that we’re all adjusting to the new economy – meaning working with less money. Citizens make decisions, often harsh ones, on whether to spend discretionary and sometimes not-so-discretionary money. Government is neither immune, nor should they be.

We are not alone in dealing with lowered assessments and the accompanying fallout.

Please post your reassessment experience here. Was it up? Down? Flat?

Update 29 January 2008: Lee Catlin emailed me the letter sent from the Assessor’s office and the news release. Notably:

What can I do if I don’t agree with my reassessment?  There is a structured process in place that allows residents to appeal their reassessment.  As a first step, property owners are encouraged to contact the appraiser responsible for the appraisal, and owners have until the last business day of February to appeal their reassessment to the Assessor’s Office. If satisfaction is not achieved, a second option is available to owners through an appeal to the Board of Equalization, which is comprised of Albemarle citizens who have completed instructional training from the Department of Taxation. Board of Equalization appeals can be done until March 17th.  Further appeal can also be made to the Circuit Court at any time. I strongly recommend that you start your appeal with the Assessor’s Office, since issues can frequently be resolved at that point.  Please contact the Assessor’s Office at (434)296-5856 for assistance.

Update #2 – 29 January 2008: My assessment is down 10% – land value stayed the same; the house depreciated. How long until this data is reflected on Zillow?

Technorati Tags: albemarle, assessments, charlalbemarle, politics, zillow

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But the tangle of options also requires any successful marketing plan to take into account the nature of the product, its durability in the public’s mind and the advertising budget needed to make it all work.

Digital real estate roundup – they aren’t viable in the CharlAlbemarle market yet, but they will be. Which ones will survive?

Is podcasting’s slow growth due to a bad name? We have been podcasting our listings for some time now – with marginal results. Are we just ahead of the curve?

The 108-year-old phone tax may yet have life.

Technorati Tags: charlalbemarle, podcast

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Thus, even with both the price increases and the recent the upward creep in interest rates, homes are still more affordable than they were before 1992.

After much debate, Albemarle BoS decides that encouraging 1,000 high-paying jobs to move here is a good thing.

The green home trend continues

Albemarle County BoS progressively adopts podcasting its meetings!

Housing futures?

Bernanke speaks (via Econbrowser)

At this point, the available data on the housing market, together with ongoing support for housing demand from factors such as strong job creation and still-low mortgage rates, suggest that this sector will most likely experience a gradual cooling rather than a sharp slowdown.

With Energy Prices up, Saving at Home is Now Paramount

Technorati Tags: affordable housing, green, podcast, real estate

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Technorati Tags: podcast

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Maybe if they would podcast the shows, more would listen.

Update: I am nominating Mr. Rooker for understatement of the week. Referencing the recent study that said 29 flows well – “The computerized traffic sequencing somewhat breaks down when you get to Hydraulic …”

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Podcast for 360 Minor Ridge Road (requires iTunes)

This one is better integrated with the photos, Google maps, the essay by the owner is great and delivers more insight than I could offer from my objective point of view. Adding the owner’s point of view is beneficial and provides a unique perspective. More information on this property is here.

Please let me know what you think. I think that implementing this technology is a good addition to our real estate marketing services.

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Technorati Tags: podcast, real estate

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Being first is great. Maintaining a competitive edge and implementing emerging technologies effectively is a challenge. I have a feeling that there will be followers.

I said it on my site, but want to say it here:

These podcasts would not be possible without Wordcast Productions and Flying Dog Media. Most “good things” require teamwork and strategic associations. This is one of those “good things.” My thanks and gratitude to them. Early adopters of emerging trends often have an advantage. I trust this to be the case.

Everyone has to start somewhere. What do you think about the podcasts? What could be better? How can we improve these?

Technorati Tags: Central Virginia, charlottesville, podcast, real estate

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You can subscribe to the RSS feed here. I am working on a way to allow downloading of just the audio file.

Technorati Tags: charlottesville, podcast, real estate

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If you have the time and are interested, please check out:

Home on almost 2 acres 15 minutes from Downtown.
Unique home that flows very well in Wintergreen. (this one will be in the MLS today or tomorrow)
Great home on 4 beautiful acres in Afton.

Don’t forget about:

This gorgeous home in Crozet. PODCAST!
Nice private home in NE Albemarle.

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Taking the business opportunities off the page and into the ears, panelist Sean Tubbs of the Charlottesville Podcasting Network told of the podcasts he recently produced for local real estate agent (and blogger) Jim Duncan.

This sort of press can (hopefully) only help to build my business. First in the region to blog, first to podcast, what’s next? The second podcast is in the works, but in the meantime, check this out (if you have iTunes), courtesy of Jim Bain and, of course, Wordcast Productions.

Technorati Tags: podcast, charlottesville

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Podcasting listings is something I have been trying to do for some time. Hopefully, this snowball will keep rolling.

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