Proffers, impact fees, market update, pricing land and more

WINA - Charlottesville radioYesterday’s show on WINA was a lot of fun, and I’m grateful for the opportunity. Thank you, Coy. There are few better motivators than fear of sounding unprepared and unintelligent – due to the last-minute call from Coy, I am now very up to date on all of the below issues.

– If you’re pricing a property, price it to sell – not to “see what a buyer might bring.” Pay attention to active and competing comparable properties. Solds may matter little, and what the seller paid for the property is irrelevant with regards to market value (as is the assessed value).
– We discussed the current state of the Charlottesville market.
Declining markets and “Jingle Mail” – here is an excellent article on this from a professional appraiser’s point of view.
– Property rights and Ron Paul (briefly)

– Several callers called in and discussed the rural area ordinances that are up for a vote this evening in Albemarle County. This is a passionate debate between property rights advocates, “greater good” opinions, preservationists and more.

We didn’t get around to discussing Senate Bill 768 – which would either destroy or fix the current proffer system, depending on your perspective.  I encourage any and all to learn more about it. The rhetoric on both (PDF) sides is escalating. One note: the proposed Grantor’s Tax increase is no longer part of the proposed bill – this is a very good thing. This is the type of political maneuvering that demonstrates why only those paid to politic have time to read and understand the bills. They’re talking about taxes, but the word “tax” isn’t used until the last page – page 12 if you happen to print it out.

As soon as the podcast is posted, I’ll post it.

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