Date Archives July 2005

Alternative methods of transportation

It sure seems logical: More space, less congestion.But sometimes things aren’t as simple as they seem, at least to alternative transportation proponents.They are true believers in the “if you build it, they will come” argument. To them, more roads just mean more cars.The Daily Progress has a good story in yesterday’s paper about alternative methods of transportation in our region and some of the challenges we face. Providing clean, efficient, affordable transportation is a challenge for localities that is further complicated in our region by the fact that the City of CVille and the County of Albemarle get along sometimesabout as well as a couple of two year olds.County Board of Supervisors Chairman Dennis S. Rooker said he’d be willing to discuss contributing more money if the county played a greater role in CTS planning and decision making and if the county got credit for federal and state funding secured by the city.“We need to establish a more permanent participation between the city and county,” he said.

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Talking my way out of a sale

Yesterday while on floor duty at my office, I either talked my way out of a potential sale or took a good step towards earning some clients’ trust…. After much discussion about their target rental market (professionals, not undergrads), timeframe for purchasing and other factors, we came to a simple conclusion. Purchasing a nearly $300k, one bedroom condo that could be rented for perhaps $1200-$1400 a month (on a good day) was not a wise financial investment…. Sometimes purchasing a property purely on a speculative basis, especially when so many others are doing the same thing, is not the best decision.

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Shopping for mortgages?

How is a home seeker, particularly the befuddled first-timer, supposed to wade through the current mire of mortgage offerings?”Most likely, your first pitch will come in your realtor’s office where a mortgage representative may be on staff,” Mr. Gumbinger said…. There is nothing wrong with discussing your circumstances with that representative, but it should by no means be the only agent you contact about your mortgage.”This is an interesting concept that has not yet taken hold in the Charlottesville market…. First-time buyers should especially be wary of so-called one-stop shops that offer to take care of everything in the process, from showing you homes to brokering a mortgage to inspecting and appraising the property. “Some companies take advantage of people unfamiliar with the process, steering them to a mortgage at a much higher rate than they could actually qualify for,” Ms. Ludwig said, “or selling a home that any legitimate appraiser would say is worth considerably less than the selling price.”Most importantly – Don’t sign anything you don’t understand or anything with a blank space that the broker or lender could fill in later.

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Outstanding commentary on possible bubble

Unfortunately, it’s not a podcast, but oh well.Some key quotes – “Five years after the boom, anyone waiting for a real estate crash is still waiting.” “I have never seen a family buy a home they knew they couldn’t afford just because they thought the price would go up.””The second thing the bubbleologists don’t understand is land…. (bolding mine)”The truth hated most on the street- invest in a home and even if you are wrong about prices, you get to live in it…. Available land is scarce, and there are more people who want to buy than want (or can afford to) sell.

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Albemarle redistricting moving forward

The constantly-changing nature of school districts is why I rarely if ever definitively answer whether a home will remain in a particular school district – no one really knows.The wheels are in motion to once again realign the Albemarle county school district…. NBC29.The proposal is the second step in the redistricting process, which began with the 16-member redistricting committee turning over its final proposal to Castner in June. The School Board will vote on a final redistricting plan in early fall.Castner proposed moving all 148 students in the Woodbrook district, except the Raintree subdivision, to Jack Jouett Middle instead of Sutherland Middle and then Albemarle High. Eighty-four students from the Willoughby subdivision, Sunset Avenue Extended, Redfields subdivision, Oak Hill subdivision, Sherwood Manor and The Meadows would be moved from Walton Middle to Burley Middle.

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The worst-written ad I have ever seen. Period.

The public remarks – A HANDY MAN SPECIALIF THERE EVER WAS ONE, 200 AMP SERVICE, HEAT PUMP COMPRESSOR AND DYCT WIRK IN PLACE FOR THE BEGINNING OF REHAB, CHECK THE TARPOLIANS ON THE FOOF, SEPTIC FOR 2 BY HOME IN 1959 AND OUT RIGHT FRONT TO REAR OF HOUSE IN WOODS, BOARED WELL? VACENT GO SEE ANYTIME.As Realtors, we have a responsibility to present the best we have to offer each and every day. Examples like this, while rare, are examples of either an illiterate Realtor or a prime example why there should be higher standards of entry to this profession. He misspelled “vacant,” for goodness sakes!

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