Very good amendment. The [exercise of any powers granted in this section is hereby declared to be a public purpose and public use. city shall not exercise the power of eminent domain pursuant to any power granted in this section. ] (bolding mine)As to the rest of the bill …
Date Archives January 2006
Free market’s response to Eminent Domain
This is outstanding. Courtesy of Bacon’s Rebellion:… BB&T, the bank with No. 2 market share in Virginia, is taking action on its own. The Winston-Salem, N.C., bank has announced that it “will not lend to commercial developers that plan to build condominiums, shopping malls and other private projects on land taken from private citizens by government entities using eminent domain.”If you can, read the story in its entirety. Now to start recommending BB&T even more to my clients.
Charlottesville’s 2005 market statistics
Read the whole thing with the caveat that the MLS no longer comprises all transactions, but certainly enough to come to accurate conclusions.A few highlights:The median sales price for the entire market area in 2005 was $255,000 which is $30,000 more than the previous year’s figure. …The inventory shortage that has plagued our area for the past few years saw great improvement during 2005. As of Early January, 2006, our database has 1,588 homes actively listed for sale. That is an increase of over 500 more homes on the market than this time last year. We can expect around 300 homes to be purchased in January. That means that there are roughly 5.3 homes available in the entire market area for each buyer. While this higher inventory will cause a minor slow down the pace of price increases, we are still 20-30% down in inventory compared to the mid-1990’s.The last time we were in a buyer’s market (according to my mother, Betty) was 10 years ago. Might we be on track for another one? The 30-year fixed rate mortgage rate in 1990 was 10.13; rate in 1995 was 7.93.
PEC and Homebuilders together?
If only for a one-off.The Piedmont Environmental Council and the Homebuilders of Virginia, teaming up. Thanks to the Richmond Report for the heads-up.Balance between the two sides may be possible after all!
New way to provide affordable housing
I couldn’t resist posting this. I think the concept is amusing, if entirely impractical.Why commute? Adapt. That’s the thinking behind the GMC PAD, which offers an innovative look at an urban loft with mobility. It’s a home ownership concept that enables cultural and geographic freedom for the modern city dweller. Thanks to Inman.
Sign of the times?
Call me crazy, but I don’t think that this offering from Craigslist would have been seen last year.JUST REDUCED!! 42″ FLAT SCREEN INCLUDED!