Archives of my subscription-only monthly notes. The blog is more searchable. Interested in not waiting a few months to read it? Learn more here. For these posts, I don’t do much formatting/changing as I’m more concerned about simply having the content here forever (because I own the blog, and I don’t own Tinyletter)
July’s note hasn’t quite made it beyond the outline stage. In almost four years of writing this Note, this will be my first missed note. Rather than put together a substandard product, I’ll share a few short thoughts, and aim to knock August’s note out of the park. To the new subscribers, I promise next month will be meatier; to the stalwarts – same promise. Questions? Call me.
The Charlottesville area market is humming along … some parts are buyers’ markets, some are sellers’ markets, and some are balanced. New construction continues to crush. And I’m seeing some stronger signs of a bubble (even though I’m not seeing anyone other than Jesse Columbuo writing about a bubble.
I’m already starting to talk to seller clients about Spring 2018 … this year is moving, fast.
There is Only One Transaction – Staying Focused
This transaction is likely the single greatest thing going on in my client’s lives right now. I try to never, ever forget that.
I might have two transactions, or three, or four, or five, or … and three home inspections in a week. For my clients, this may be the only home inspection (and negotiation) they have ever done, or the first in 10 years. For me, it’s an inspection. For them, it is the inspection.
Seeking Additional Representation
I received a phone call early this morning from someone who was investigating new construction in the Charlottesville area. She was calling specifically about the builder I represent, Southern Classic, but her intent was more broad. She wanted to know how much does it cost to build a home in Charlottesville.
Her real question was masked between the lines, and it was something like this (paraphrased to be more direct): “I’m working with a realtor now, but am looking for guidance evaluating local builders, and for guidance through the new construction process. I’d like to keep the existing realtor relationship, but recognize that I need better guidance advice.”
My short answer was, “I absolutely understand what you’re looking for, I appreciate that you’re doing the work and due diligence, and yes, I could help you, but … I can’t, as you have that existing relationship.”
New construction guidance is different than resale, and often, buyers start looking at resales, and move to new when they can’t find what they’re looking for.
Identifying the “where” is step one. The “what” comes next.
Crozet’s Quarterly Video
What I’m Reading
- NGIC seeking federal dollars for expansion of Rivanna Station
- Why Washington can’t fix the new housing crisis; this was sent to me by a client, and I’m working on a blog post tying this to the Charlottesville market.
- The Daily Progress. Their website is atrocious, but their local reporting has really picked up, and their local reporters are doing great work.
- Cults are bad.
- The Impact of Redfin Post-IPO: Part 2 — MLS & Associations
- All deals are handshake deals
- NAR: “Existing-Home Sales Retreat 1.8 Percent in June”
- Lawfare blog
- Lyft Wants To End Car Ownership — This Is How They Want To Do It
In August’s note
- Unrepresented buyers.
- Texts after 7pm
- New Construction
- Bubble signs
Thanks for reading.
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Jim Duncan, Nest Realty, 126 Garrett Street Suite D, Charlottesville, VA 22902. Licensed real estate agent in Commonwealth of VA.