Charlottesville's Real Estate Blog. Buyer &/or Seller Representation, Real Estate News
I am considering moving to Charlottesville or Crozet, or perhaps somewhere else in the area. I wonder if one of your blog posts addresses the differences in the different areas around Charlottesville?
The Headlines say that “rates have dropped,” and that tends to elicit hope and reactions from my clients — “rates dropped, right?” Well, yes, and yes, here’s the context that matters.
We’ve been in a transitional market since I started practicing real estate in 2001. No market is the same as the preceding year’s market. In the past four years, we have seen a massive increase in home prices in Charlottesville and Albemarle, interest rates go from the 3s to the 7s and now in the 6s.
What is happening *now* in the Charlottesville and Albemarle real estate markets?
Realtors have a lot to learn, and so do real estate consumers. Always. New zoning rules in the City of Charlottesville affect the market, lawsuits and commissions’ decoupling affect the marketplace.
There’s the market, and then there’s the marketplace — one is shifting and one has been upended.
Finally in 2024, real estate commissions are now divorced/decoupled.
Jim Duncan, Nest Realty, monthly note. Charlottesville market, getting older, insights & knowledge gained from traveling. A note about real estate, and other tangential stuff.