As I look back at 2010 and forward to 2011 and beyond with respect to the Charlottesville area real estate market, I’m reading national news and opinions as well so as to buttress my perspective.
There is no perfect gauge of “normal” house prices. Changes in house prices depend on local supply and demand. Heck, there is no perfect measure of house prices!
Housing faces additional uncertainty because the government is set to reconsider how aggressively to support homeownership. Deficit hawks have their sights set on scaling back the mortgage-interest deduction, and the Obama administration later this month will put forth a proposal on how to revamp Fannie Mae and Freddie Mac and the broader mortgage market.
“What goes on in Washington will be of critical importance to housing,” said John Burns, an Irvine, Calif.-based home-building consultant.
You know, wouldn’t we all be better off if the federal government would just stop their meddling?
And perhaps the BIGGEST “I don’t know” of 2011:
There may indeed be serious and significant title issues that could affect millions of properties, millions of buyers, title insurance companies, and lenders for years to come.
Update: See these proposed changed paragraphs in this bill in the General Assembly:
E. If a corporation or other business entity that is named as the trustee of a security trust transfers the property under a trustee’s deed of any kind, the name, telephone number, and full residence or business address, including street address and zip code of the individual executing the deed on behalf of the corporation or business entity shall be printed on the deed.
F. The signature of an individual on any trustee’s deed, whether such individual is acting as the trustee or on behalf of a trustee that is a corporation or other business entity, shall constitute a certification under oath that such individual has determined that the requirements of ?? 55-59, 55-59.1, and 55-59.5 have been met.