Tag Archives: 22911
Belvedere in Charlottesville – Now Growing. Fast
The neighborhood may not be 100% what was originally envisioned, but from my outsider’s point of view, I would argue that it is better – the neighborhood has taken ownership and initiative. … 2 – It’s in a great location; well-positioned to both Downtown Charlottesville and the 29 North (DIA/NGIC) Corridor 3 – The inventory has shifted and adjusted to the market – quite a few townhomes are selling there now. … Walking back down to the heart of the neighborhood, we ran into one of my clients who has lived in Belvedere for nearly a year and she spoke of how much she and her family love living here. … We go into the builder’s model home, talk for a while and upon coming outside, see that the cookie-and-lemonade-sellers have been joined by a girl on a stool in a tie-dye shirt strumming a guitar. Continue reading
400 More Homes on Pantops? What Could Go Wrong?
Start at Albemarle County’s site , this pdf of last night’s agenda , and then spend some time at Charlottesville Tomorrow’s site .
…That a developer would seek a rezoning of this scale that would add thousands of vehicle trips a day without submitting a traffic study is indicative of either ignorance, arrogance or indifference.
… However, Rooker said the proffer language calling for the road could be interpreted in such a way that the county would have to condemn property. … “We don’t want to be in a mode where we’ve approved this and he doesn’t have to build the road because we won’t condemn the property.” Continue reading
Au Revoir, Forest Lakes & Hydraulic Markets?
The beauty of the Markets – gourmet gas stations which really are ” ironically delicious ” – the original one at Bellair , the newest one on 29 at the corner of Greenbrier, the one at Hydraulic and 29, and the ones at Forest Lakes and Mill Creek – is that they are decidedly Charlottesville .
…“We’re trying to make these stores destinations rather than convenience stops,” said Stuart Lowry, marketing director for The Markets of Tiger Fuel, a Virginia convenience chain that offers fresh seafood, a fancy deli and professional chefs.
…While I share some of the writer’s sentiments, I’d rather focus on their current contributions to the economy and to the culture of Charlottesville for the past 20+ years as a resident, customer and Realtor in Charlottesville. … I may sound a bit elitist, but given the choice between a snack or sandwich and a cup of Mudhouse Coffee at a Market or a chili dog and a fountain drink at a 7-11, I’ll choose the former every day of the week. Continue reading
Four Positive Signs about the Charlottesville Real Estate Market
1 – Stabilizing real estate assessments – some are legitimately up, some are legitimately down; while they are irrelevant to market value – they do affect consumer sentiment & perspective . 2 – Unemployment has declined to a two year low . ( more ) 3 – I am hearing this more and more from buyers with whom I am working: “She is in no immediate rush but she is aware that this is probably the bottom of the market so would like to capitalize on that.” … I just returned from FiberLight’s ribbon cutting ceremony at the Omni Hotel in Charlottesville, and I am very excited about what they are doing, what they plan to do and what this may mean for the Charlottesville region. More to come on how this will affect businesses, consumers and most importantly (to me at least), the Charlottesville real estate market. Continue reading
When Evaluating the Charlottesville Real Estate Market, IGNORE National Data
Take your lede : – Home sales up 14% in Charlottesville and Albemarle year over year. – Home sales up 19% in Charlottesville MSA year over year. – Foreclosures continue to climb in Charlottesville and Albemarle. – Questions abound regarding second half of 2010; where will we find the bottom of the market? – If you have questions about or would like more detailed analysis, please contact me.
…Simple (though notsoumuch in reality) What I’m reading: – Harvard’s State of the Nation’s Housing Market (PDF) and listening to an excellent podcast with Nicholas Retsinas , Director, Harvard University’s Joint Center for Housing Studies . (did you know that there was an exhibit at the Smithsonian on McMansions ?) – Core Logic’s Home Price Index Report for April 2010 – Virginia’s Housing Price Index, for single family homes year-over-year, is up 6.5%; for single family homes excluding distressed properties, is up 3.6%. Virginia is one of the five best states for year-over-year price appreciation excluding distressed sales .. but mostly that’s irrelevant in my opinion as the bulk of those sales are most likely comprised of Northern Virginia sales. – The Federal Housing Finance Agency’s House Price Index for First Quarter 2010 The FHFA (formerly OFHEO) say that in the Charlottesville MSA house prices have dropped 6.98% year over year, 1.86& in the 1st Quarter 2010, and have appreciated 12.68% over the past 5 years .
… Home Sales are Up 19% year over year in the Charlottesville MSA: 
Homes sales are UP 14% in Charlottesville and Albemarle : 
One point: Charlottesville’s Unemployment is lower than the national average. 
Prime example of the irrelevance of national, aggregate housing data, which is good only for political talking points and respective agendas: Foreclosure starts for the nation and Charlottesville and Albemarle: National foreclosure data, courtesy of the HUD Scorecard, using RealtyTrac data: 
For Charlottesville, using RealtyTrac : 
For Albemarle County, using RealtyTrac: 
What have median home prices done in Charlottesville over the past five years? Continue reading
GoCHO – Charlottesville Airport Getting More Flights?
Namely to these locations: CLE Cleveland-Hopkins International Airport @ Cleveland, OH EWR Newark Liberty International Airport @ Newark, NJ IAH George Bush Intercontinental/Houston Airport @ Houston, TX ORD Chicago O’Hare International Airport @ Chicago, IL Combine more flights with a longer runway , and Charlottesville-Albemarle Airport will expand its runway by 800 feet with initial Phase 1A a $6 million dollar project funded in part by the Virginia Aviation Board and the Airport Authority. The runway extension will allow us to accommodate more fully-booked flights in varying weather conditions, improving service to travelers and the airlins we serve. When the extension is complete, more flights can be fully booked and depart from and land at CHO; this means more options for travel to and from CHO and more seats on flights mean lower fares for those flying from CHO.
…NBC29 has learned that CHO is in negotiations with three air carriers which could provide service to Chicago and Florida; one of the three prospects is being touted as a “low-fare” carrier. Continue reading
NGIC and DIA – What’s the Impact on the Charlottesville Real Estate Market?
Right Now *, There are: – 289 Homes for Sale within five miles of the NGIC/DIA facility on 29 North. – 113 have “NGIC” in the public remarks. (one of these listings is mine, and it’s GREAT .)
…But understand that obtaining a new clearance, probably higher than TS, for most of the professional jobs at NGIC will be a long process (12 to 18 months), and site security policy may not allow personnel into the building until a clearance is finally granted. In that case, two issues apply. #1, even if it takes 2-4 months and several thousand dollars to relocate, a pre-cleared person from DC or straight out of the uniformed services can come on much faster than Sara’s fresh, uncleared UVa graduate. #2, assuming that fresh, uncleared Hoo gets hired, what’s s/he going to do for the next 12-18 months while awaiting clearance?
…Quite a few people have been moving to and buying homes in the Charlottesville area due to the NGIC/DIA relocation, and I suspect there will be more as the move continues its phase-in over the next few years. Continue reading
Charlottesville Short Sales and Buyer Agents’ Responsibilities – Part 2
Fourth – Prepare our buyer clients for what they may run into. (more to come on this) What’s a Charlottesville buyer to do in this market with more and more short sales? – Be patient. – Be aware that there are some things that neither you nor your agent can control . – Be informed . – Be qualified.
…Maintain confidentiality of all personal and financial information received from the client during the brokerage relationship and any other information that the client requests during the brokerage relationship be maintained confidential, unless otherwise provided by law or the seller consents in writing to the release of such information;
…The second section is a protection for the Buyer, should the Seller find out in the course of the transaction that they cannot pay off all indebtedness and need to revert to a Short Sale transaction. Much like how good Charlottesville Buyers’ Agents should be researching a property’s true continuous days on market (quote from a client regarding Days on Market, “The MLS lies” 
) [ Realtors gaming the MLS ] – Buyers’ Agents should be doing extreme due diligence. Continue reading
