Entry into the real estate profession is too easy; entrance standards are too low to ensure high quality Realtors.The number of real-estate agents has grown even faster than total commissions. Membership in the National Association of Realtors, the dominant trade group, totals about 1.25 million, up 63% since 2000.2. Relying on gimmicks for success cheapens the profession and those who rely on reputation, ethics and successful representation of their clients. In the closing weeks of 2005, Chang-Tai Hsieh received nearly a dozen calendars and refrigerator magnets from real-estate agents eager to represent him the next time he buys or sells a home…. Good agents provide valuable service, advice and representation…. Two real-estate professors — Abdullah Yavas of Pennsylvania State University and Ronald Rutherford of the University of Texas at San Antonio — sifted through home-sales data from several Texas counties between 2002 and 2004. They found that homes listed by discount brokers were 12% less likely to sell than those listed with traditional firms but that there was little apparent effect on the prices obtained for homes that sold. The discount listings that did sell took 5% longer to do so.Would you choose the cheapest doctor, attorney, mechanic, for what could be the single greatest transaction you will ever make?
Date Archives February 2006
Morning reading
Spread of the “Urban Village” conceptTransfer of Development rightsPolitics in a nutshell:”What I’m saying is, don’t be bellyaching about ‘we’ve got all this new money and we want to cut rates to reduce the amount of money,’ and then not talk about services,” he said. “We all do it, and I’m saying I don’t have to worry about it this year, so I’m going to raise hell about it.”Translated: Now that I’m not running for re-election, I can do what I think is right. Sometimes politics/politicians make me sick. Why not do what’s right to start?
Stay ’til you have a solution!
The Washington Post reports this morning that Gov. Tim Kaine … will force the issue by calling a special session or extending the current one, which is scheduled to end March 11.”I’m not going to walk away without a deal,” Kaine said. “If something doesn’t get done, I’m going to stay until it does.” I admire his conviction. Transportation woes have long been talked about, teeth have been gnashed, and talked about some more.
If you need one of these loans …
You need to reevaluate your options. Be aware that the URL has a bad word. Option ARMs – not so good.If these are not a recipe for disaster for the borrowers, the lenders and investors …
February’s Newsletter is out
I have just finished my February Newsletter. Please email me if you would like a copy, either as a PDF or snail mail.
Will Albemarle Place ever happen?
Charlottesville Tomorrow has an excellent update on the status of the proposed/pending/possible Albemarle Place development. The impact that this development will have on its immediate surroundings is not insignificant. Adding thousands of vehicle trips every day to this area, with no substantial infrastructure improvements will be a “bad thing.” This project has been in development for an unreasonable and unfair amount of time – unfair and unreasonable to all involved – the developer, the residents, possible tenants … On the question of a long-term grade-separated interchange for US 29 and Hydraulic (i.e. Hydraulic road traffic would pass over US 29), Frank Cox says he has come to an agreement with VDOT and the County to fund the preliminary engineering for a design. This interchange design would then become part of the “official map†and thus a clearly defined transportation project. That, however, does not guarantee any funding or a specific timeline for construction. An interchange plan would allow Mr. Cox to move ahead with development of Albemarle Place as the right-of-way line would be designated allowing him to finalize building locations.
February Forum watch is posted
This month’s Free Enterprise Forum watch is now online. This is an excellent resource for information on the region’s more pressing issues regarding growth, development and more. You can check it out at their website. The issues facing our region are not isolated to one particular locality, be it Charlottesville, Albemarle, Fluvanna, et. al. – they are regional issues; the FEF does a great job of consolidating this information.