Charlottesville's Real Estate Blog. Buyer &/or Seller Representation, Real Estate News
When Greene County gets its 500+ townhomes, it will increase the number of attached housing in that county by many orders of magnitude. Townhomes in Northern Albemarle – Hollymead, Forest Lakes, Abington Place, Riverwood will be impacted by the entrance – and prospective entrance – of these homes to the real estate market.
For context, a quick look at the Charlottesville Area MLS shows that:
Over the past 21 years (in the MLS which is “accurate enough” for these purposes:
I found the above chart fascinating.
If you’re a consumer/homeowner (and voter) you should pay attention. People who likely understand this stuff less than we do (politicians) and who probably won’t read the relevant bills are likely going to be making incompetent decisions that affect all of us. As always, there is a likely a middle ground between the lobbyists (NAR) and the government (who have no desire to actually fix the problems).
Briefly: sea changes in the lending environment are in the offing. Proposals range from forcing lenders to have skin in the game to requiring many/most buyers to put down 20% downpayments – this would affect buyers, sellers, real estate agents (like me), all the ancillary professions and the entire American economy.
Educate yourselves; I’m trying to do so myself.