DIA Growing More?

Charlottesville Tomorrow has the story:

Hinting at potentially more growth of the local intelligence community, the man who is overseeing the relocation of more than 800 Defense Intelligence Agency employees to Albemarle County said he expects the transition to be completed by March.

“The largest single group of DIA people outside of the Washington metropolitan area will soon be in Charlottesville,” said Phil Roberts, chief of field support for Rivanna Station and a 29-year agency veteran.

I’d wager that about half of those moving here for DIA purchased homes. I’d love to know the real percentage.

Related:

NGIC and DIA – What’s the Impact on the Charlottesville Real Estate Market? – May 2010

NGIC and DIA coming to Charlottesville – October 2009

NGIC and DIA – Who’s Moving Here? – November 2010

Some Homes for sale near the NGIC and DIA facilities

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4 Comments

  1. Todd Hawkins November 19, 2010 at 14:12

    Hope you’re right but I’ve heard the opposite, that many are renting to see if they like the area. Others are commuting from western NOVA because they can’t sell their home OR spouse makes more money elsewhere.

    Reply
    1. Jim Duncan November 19, 2010 at 17:22

      Todd –

      Heck, I’ve written that myself. 🙂 The number of those purchasing is probably a bit closer to 1/3.

      I still think it’s be good to know the true percentage.

      Reply
  2. foxhats November 26, 2010 at 21:44

    Hope you’re right but I’ve heard the opposite, that many are renting to see if they like the area.

    Reply
    1. Jim Duncan November 27, 2010 at 08:15

      I’ve heard and seen that as well. I think there are at least four classifications of incoming DIA folks –

      – Renting because they will be here for a relatively short term
      – Renting because they can’t sell their houses wherever they’re coming from.
      – Buying outright.
      – Renting to see if they like it, but moving here permanently. I advise all of my incoming buyer clients that, if they have the luxury of time, to rent first before buying. Better to figure out your patterns, where you’re going to like and dislike, as a renter rather than as a homeowner. I’ve told this to my buyer clients for years; Jay in Phoenix answers the “rent before buying” question well:

      The benefits of renting first:
      You get familiar with an area before making the home purchase plunge.
      If you don’t like where you end up renting, you can rent somewhere else. Or at least drive around different areas at different times, watch listen and observe the local area and news – basically get a long term, in-depth feel of different areas.
      Less initial cash outlay. Moving is expensive, even if you have corporate relo assistance.
      Home prices are still dropping. Sort of.
      It is much easier to work out timing issues between leaving your existing home and relocating to your new one. Closings are delayed all the time.
      Reduced stress. Maybe.

      Reply

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