Walker Square, the market and one other thing

Walker Square would be well-advised to address their customer service and management issues. This is the type of publicity that will 1) impact their ability to rent, 2) their ability to sell their condos and 3) the ability of the owners to sell their condos. I have been watching Jeannine’s story with dismay and disgust for months. As the market shifts, customer service must take top priority. They better watch out – once the furor begins, they might have to act.

Update 8 March 2013:Walker Square’s evolution is nearly complete – they’ve long since had new, very responsive management. The developer is no longer in control, and things are looking up.

Read more than the headlines when assessing the housing market news. Might this be a bellweather?

On the other hand, investors in homebuilders aren’t too impressed by Seiders’ “orderly” cooling. They’re continuing to sell the market down. On June 20, Centex (CTX), D.R. Horton (DHI), KB Homes (KBH), Lennar (LEN), and Pulte Homes (PHM) all closed lower than the day before. All of their stocks are down between 35% and 50% from their peaks last year.

Jim Bacon has some interesting take-aways from the recent blogging summit in Charlottesville. This blog occupies a different corner of the blogosphere – that of business blogging. Ethics and trust form part of the foundation of a successful blog, be it a political blog or a business blog.

UVA’s $2 Million Crosswalk – at least it will be built rather than planned, studied, planned, debated and then deferred until the next election cycle.

UVA’s beTech is fast becoming one of my favorite (local) blogs. I have no idea why on VAR Contracts, there is a place for buyers’ and sellers’ SSNs – I tell all of my clients to leave that space blank.

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These are a few of the condos for sale in Walker Square:

[idx-listings tract=”walker square” orderby=”Price” orderdir=”DESC” count=”5″]

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  1. Waldo Jaquith June 21, 2006 at 13:34

    I can’t tell you the first thing about Walker Square. Except what I’ve read on Jeannine’s site. Consequently, if somebody told me they were looking at a place at Walker Square, I’d tell them that they’re nuts.

    For months now I’ve been telling businesses that they’ve got to learn to pay attention to Charlottesville blogs so they can manage problems (or capitalize on opportunities) as they crop up. I don’t know who runs Walker Square, but they’re definitely not doing their job on that front.

  2. Jim Duncan June 21, 2006 at 14:01

    I have shown there numerous times. The fa̤ade is great, the location is fantastic (in my professional opinion) but I have yet to sell anything there. Property values there (and other managed developments) will depend in some part on how it is managed. The owners/managers really need to address this, and the owners need to step up and take ownership of the situation. As more people become homeowners, they have a very real vested interest in the reputation of their development Рit will impact property values.

  3. Jeannine Lalonde June 21, 2006 at 18:49

    Thanks so much for calling attention to the situation at WS again. Until the HOA is formed (something like 75% of units have to sell for that), I feel as though we’re in limbo when it comes to being in charge of management decisions. While calls and emails to management go unanswered, I can always watch the traffic on my blog increase and feel as though someone is paying attentiong to my situation!

  4. UVA08 June 21, 2006 at 22:24

    There are so many new housing options in Charlottesville. It would seem to me that the competition for sellers should be getting tight. I guess Walker Square should realize that if they want to charge 1200+ for rent then the quality should match.

    Just as a heads up and an indicator on how the market may be doing the census bureau has updated its web site. Every single jurisdiction in the Charlottesville metro area grew. Even Charlottesville City. http://www.quickfacts.census.gov