Talking about the Charlottesville Real Estate Market – WNRN Radio 9 January 2011

An hour of talking about the Charlottesville real estate market – not nearly enough time to cover all that we wanted to or could do. Live radio is a furthering of why I chose to write this Charlottesville-focused real estate blog six years ago – it forces me to study, analyze, prepare and think about the local real estate market, the factors – internal and external – affecting it. If you are interested in – whether from a buyer, seller, voyeur, moving to Charlottesville perspective, I highly encourage you to listen to this hour of radio Matt Hodges and me as we discuss the Charlottesville real estate market, national trends affecting all of us, and what the conversation may mean to you, the real estate consumer.

Listen to or download the show at CvillePodcast.

Some of the stories to come: One of the best parts of doing radio shows is that I always generate new ideas to write about.

– Top 10 most popular neighborhoods in the area; I’m finalizing the methodology for how this will be determined, so I won’t promise the publication date.

– An expansion on the nomadic class.

– The internet’s/telecommuting’s impact on attracting people to the Charlottesville area.

Some of the stories and issues we discussed:

Charlottesville MSA unemployment rate

Charlottesville area employment numbers – better than most, but not nearly where they need to be.

– – Where are we now? Real Estate Inventory for Charlottesville MSA (.pdf) and  Inventory 2005-2009 (.pdf)

The Brighter Outlook – Calculated Risk

Banks lose key foreclosure ruling in top Massachusetts court

This is the Ibanez case. At the Big Picture.

– – Foreclosuregate and title issues. Title issues, conveyance of title, property ownership – I think this is going to be a huge story in 2011.

– Mobility – many of today’s potential homeowners are choosing to not buy because they want to have options.

– QE2

– DIA and NGIC – their impact on the Charlottesville real estate market; in short, they they provided a stabilizing force.

Loan Level Pricing Adjustments – what does this mean to homebuyers? Matt explained it really well. A friend, Dan Green, offers this explanation:

If you’ve ever wondered why you can’t get the best “advertised rate”, it’s not because of some elaborate bait-and-switch scheme or something worse. Most likely, your rates have been altered by Loan-Level Pricing Adjustments. And, starting April 1, 2011, LLPAs are going up.

– Today’s buyers – are buying for better sociological reasons, putting down roots, intending to stay for a long time, and this qualifies as a very good thing. I think we will see in 10 years the benefit of this recession.

– I ranted a little bit about Charlottesville/Albemarle infrastructure/transportation/political issues.

Some of the real estate stories and issues I prepped for but we didn’t discuss:

Charlottesville Foreclosure Rate and Foreclosure Activity Information | thanks to RealtyTrac

– Foreclosure rate for the Charlottesville MSA

Majority of Virginians oppose gas-tax increase

Town hall to discuss Hollymead development area expansion

Realtors’ response to Mortgage Interest Deduction

Commentary: Mortgage Interest and Real Estate Tax Deduction Facts

Facing Scrutiny, Banks Slow Pace of Foreclosures

Homeownership is not a must. Really.

FairTax versus the Mortgage Interest Deduction

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  2. Simmon Campbell January 10, 2011 at 17:30

    I did see a news piece about a $1 billion fund going up for self-storage facilities. One reason could be because these are expected to benefit from more and more individuals moving around to chase jobs. How do you think that ties into – or doesn’t tie into – the real estate trends you’ve observed?

  3. Houses for Sale MN January 11, 2011 at 04:28

    Hi Jim! Wish I could tune into your radio show, but I call Minneapolis home. =) I have family in Charlottseville and was actually down there for Christmas, leaving the day that the snow storm just missed town! In any event, my real estate team has a weekly radio show up here in Minneapolis and sounds very similar to yours. 60 minutes of radio discussion certainly drums up many blog topics, and you have compiled a nice list of topics above. Keep up the great work. I know how much time it takes to write a consistent, quality blog. Much appreciation…

  4. Pingback: Tune Into WNRN This Sunday – 29 May 2011 |

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