Looking at the market numbers since July of this year to date, the market shows clear signs of shifting towards a buyers’ market. There are no indicators of a “bursting” of the market, but the market is telling us that the “froth” may be blowing away.Data description -Using only Charlottesville and Albemarle for the market sample and data from the MLS, which includes by my estimation between 90%-93% of the market, and data from 1 July to 1 October 2004 versus 2005.Simply put, there are more homes on the market and staying on the market longer than this time last year. Prices have increased significantly, and while inclusive only of the CharlAlbemarle market, is representative of the entire Central Virginia region.
Browsing Category Charlottesville
Another sign of a slowing market
This from a property that just came on the market…. McIntire interior unit with garage, brand new, available early November. High efficiency heat pump; hardwood floors, ceramic tile, maple cabinets, GE appliances, and more…. Instant equity!I wonder when was the last time that C’Ville saw this type of advertisement for a new construction flip.
Condo bubble?
If this condo in the Belmont Lofts sells for or near its asking price, there may not yet be a shrinking condo bubble in the Charlottesville market…. Purchased for: $194,000 in August of 2004. These are nice units, and the location is great, with respect to the Downtown area. But $310k for one bedroom?
Places29 planning continues
From yesterday’s DP article by Jessica Kitchin – A look at old maps of the U.S. 29 corridor north of Charlottesville underscores the amount of development it has undergone in recent years. What was secluded in the 1980s has become a bustling assortment of stoplights, strip malls and parking lots.That urbanization and an intensive effort to better plan the developing areas of the county have led local officials to focus on the often-derided highway.Better late than never. The Places29 project continues in the same vein as the Crozet Master Plan and the equally belated Pantops Master Plan. From the same article – “The Places29 study is really a flagship model for a comprehensive approach that incorporates transportation and land-use issues,†said Harrison Rue, executive director of the Thomas Jefferson Planning District Commission.
Local Politics and CAAR’s endorsements
I happen to be the Chair of our Government Affairs committee and was impressed with the candidates and our process.This election is an opportunity for our organization (~1200 strong) to speak with one voice that we want our County to grow wisely and efficiently…. Three candidates running for election to the House of Delegates (Robert Bell and Steve Koleszar from the 58th district, David Toscano representing the 57th District) and five candidates for the Board of Supervisors (Christian Shoenewald and Dennis Rooker running in the Jack Jouett District and David Slutsky, Gary Grant and Tom Jakubowski running in the Rio District) were present and answered questions generated by the public…. He believes development should be directed into the growth areas and that the county needs to provide more specific instruction to developers regarding the Neighborhood Model…. Schoenewald: The community is not served by expansion of the designated growth areas at this time, need to create side corridors, would favor a western bypass, especially now since there is so much development in Crozet.
Roundabouts and the Meadowcreek Parkway
The merits of roundabouts seem to be gaining traction in the Charlottesville area, thanks in part to efforts of groups such as the Free Enterprise Forum, and a few in Loudoun County. On the other side, however, is a Supervisor in Loudoun County – from a Leesburg Today article by Dusty Smith – Snow seeks to defund the project, asking supervisors to send letters to the county’s congressional delegation and to the state, suggesting that the federal money be redirected to hurricane relief in the Gulf states and that any state funds earmarked for the projest be shifted to improve Rt…. “Other people have needs.â€Efficient transportation is not a mere convenience, but one of the primary responsibilities of government…. The Free Enterprise Forum’s Review of Reasonableness states that Our brief assessment suggests that the 2/3-lane hybrid roundabout concept is the preferred grade concept: it can accommodate future traffic volumes, likely can be built within existing right-of-way, and is compatible with the 2-lane Meadowcreek/McIntire and 4-lane U.S. Route 250 roadway configuration.Again from the Leesburg Today article – “analysis indicates that at locations where single lane roundabouts have been installed there has been a 68 percent decrease in the total accident rate/million vehicles entering the intersection, 100 percent decrease in the fatal accident rate/million vehicles, an 86 percent reduction in the injury accident rate/million vehicles and a 41 percent reduction in the property damage†as a result of accidents.How does one argue with these results?
October Forum Watch
IN THIS ISSUE: Important Dates Zoning Issues Master PlanningWater Supply Transportation Policy Other Land Use Editorial Important Dates October 3rd – Greene County Board of Supervisors Candidate Forum – 7:00 pm William Monroe Middle SchoolOctober 8th – Charlottesville Neighborhood Design Day 9:00 – 3:00 pm Various locations see article in Master PlanningOctober 10th – TJPDC MPO Transportation Improvement Program Public Hearing – 5:00 pm 401 E. Water StreetOctober 10th – Albemarle County Jack Jouett Supervisor Candidate Forum – 7:00 pm Jack Jouett Middle SchoolOctober 17th – Albemarle County Rio District Supervisor Candidate Forum – 7:00 pm Woodbrook Elementary SchoolOctober 27th – Rivanna Water and Sewer Authority Water Supply Community Outreach meeting – 6:30 Monticello HSOctober 31st – HalloweenOctober 31 – November 4 Places 29 Charrette #2 details to follow soon ACOBACOB – Albemarle County Office Building CCH- Charlottesville City HallGCAB – Greene County Administration BuildingFCGC – Fluvanna County Government Center Return to Top Transportation Policy Meadowcreek Parkway – The Free Enterprise Forum released a report indicating the Meadowcreek Parkway Project could be completed prior to the separate federally funded US 250/McIntire Meadowcreek Parkway interchange project…. Details and locations of the meeting can be found at http://www.charlottesville.org/content/files/2CCD2AF7-2578-49B6-9DA3-C82AB79DD19E.pdf Fluvanna County In what may be one of the most overreaching decisions to date, the Free Enterprise Forum has learned that Fluvanna County is requiring Army Corps of Engineers and Virginia Department of Environmental Quality approvals on yield plans (A yield plan is a fictitious development that indicates how many units could be built on a particular parcel by right) submitted to determine density of their required cluster subdivision…. A map of the study area can be found here http://www.albemarle.org/upload/images/Forms_Center/Departments/Board_of_Supervisors/Forms/Agenda/2005Files/20050504/Northerndevelopmentattachb.pdfReturn to Top Other Land Use Albemarle County Mountain Overlay Committee – This committee is now idle waiting for staff to draft proposed language for a Mountain Overlay District (MOD) Ordinance.