Tag Archives: Albemarle real estate market
Note from the Trenches (of a seller in Charlottesville)
If memory serves …
I was marketing a house in Albemarle County. We received an offer which my clients accepted, but it was contingent on the sale of that buyer’s house. Another offer came in, and my sellers “kicked out” the first contract to accept the second contract.
We bought a house from some of your clients about 5 years ago, the (removed), at (removed)., Charlottesville, 22902. We have loved the house, but have had to move this summer for work, so it is currently on the market, with no luck as of yet. We did remember that there was a kickout clause on the house when we made our offer.
We were wondering if you would contact the potential buyers with the clause or their agent on the off chance that they might still be interested. The market is not great currently so the price of the house is much lower than they offered way back then, so if they were interested it would be a better deal for them now. Obviously, if they do not have an agent you could be their agent, but if they do, and actually purchase the house, we could figure out some sort of finders fee for you.
I can’t advertise their house as it’s not my listing, but if you’re interested in a nice house under $250k in eastern Albemarle on a couple acres, I know a good one.
Nest Realty’s 1st Half 2011 “Nest Report”
Read it, download it, critique it. I’ll be posting a direct link to the PDF later today.
Nest Realty’s Nest Report is out – a comprehensive look at “where we are” right now in the Charlottesville real estate market.
Click through to download the report.
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
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
Should I take my home in Charlottesville off the market over the holidays?
I keep my promises .
Should I take my home in Charlottesville off the market over the holidays? Maybe. It depends.
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Making Sense of it All – Where Is the Charlottesville Real Estate Market Going?
At the very least, I would venture to say that with housing starts and homebuilders’ stocks failing to reach new lows after hitting bottom well over a year ago, one can say with some degree of confidence that we have seen the worst of the housing recession.
…This trend — increased “outflow” and slightly reduced “inflow” foreclosure activity — means that lenders and loan servicers are 1) giving up on modifying mortgages when the borrower can’t pay, and instead repossessing homes and auctioning them off, but also 2) trying to manage the foreclosure pipeline to minimize the downward pressure on home prices. … For starters, a multiyear tidal wave of foreclosure sales has been inevitable ever since the housing bubble burst: Too many people had mortgages they couldn’t afford to pay, mortgages with a face value higher than the home’s new market price. … And then I’m hearing that: – There are 7 million foreclosures in the pipeline – what might those do to housing prices? – Some banks are seeking to vacate the lending business altogether. (from a conversation, no link) – Banks are delaying short sales in anticipation of Here’s the problem with politics – while I appreciate the necessity to achieve a “balancing act” it’s time to make a decision.
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Should Realtors Disclose if They Haven’t Represented a Short Sale?
The services which REALTORS® provide to their clients and customers shall conform to the standards of practice and competence which are reasonably expected in the specific real estate disciplines in which they engage; specifically, residential real estate brokerage, real property management, commercial and industrial real estate brokerage, land brokerage, real estate appraisal, real estate counseling, real estate syndication, real estate auction, and international real estate.
REALTORS® shall not undertake to provide specialized professional services concerning a type of property or service that is outside their field of competence unless they engage the assistance of one who is competent on such types of property or service, or unless the facts are fully disclosed to the client . … 2 – Customers/potential clients (they’re different things by the way; see Article 1, Standard of Practice 1-2) should be interviewing their potential representation as if they are hiring someone to represent them in the biggest financial transaction of their lives. … 3 – If a Realtor is not doing at least five (and some have argued ten) transactions a year, they are most likely not up to speed on the most recent happenings, changes, relationships that are crucial to client success in this market. Continue reading
Second Quarter Charlottesville Real Estate Market Report
The second quarter real estate market report has just been released by the Charlottesville Area Association of Realtors. Happy reading. 2010 2nd Qtr CAAR Market Report Continue reading
