Politics, Demographics, What is Life Like in Charlottesville?
I get questions. I received this email this week, and promised an answer. I figured I'd answer on the blog as well; I believe if one person asks a question, then others likely have similar questions. I've edited the question a bit to make it…
Evaluating Climate Risk in 2024 and 2025 in Charlottesville
We're in a new world, and climate change is real. More of my clients are mentioning climate as a reason to move to Charlottesville. The major real estate search portals are showing climate risk, typically from First Street, which calls itself "The Standard for Climate…
The Fed Lowered Rates – Does that Mean Mortgage Rates Drop?
The Headlines say that "rates have dropped," and that tends to elicit hope and reactions from my clients -- "rates dropped, right?" Well, yes, and yes, here's the context that matters. The Fed lowered rates .50 bps. The Fed did not lower mortgage rates. One…
Charlottesville – Albemarle Real Estate Market Update – July/August 2024
We've been in a transitional market since I started practicing real estate in 2001. No market is the same as the preceding year's market. In the past four years, we have seen a massive increase in home prices in Charlottesville and Albemarle, interest rates go…
Decoupling Real Estate Commissions – Finally
I wrote the following in 2007. I've lightly edited it. And now, in 2024, commissions are now divorced/decoupled. There are some who have been talking about this stuff for decades. It took lawsuits to decouple the commissions. One of the key results from the lawsuits…
July 2024 Real Estate Conversation with Jim and Greg
Jim Duncan and Greg Slater with Nest Realty Charlottesville talk about the Charlottesville and Albemarle real estate markets in mid-2024, inventory levels, interest rate lock-in effect on the market, new construction and resale trends, sellers' anchoring on prices. We talk about at what interest rate…
July 2024 Quick Look at Albemarle New Construction Numbers
Numbers mean less when they lack context and insight. Someone asked me about new construction and building permits in Albemarle County, so I ran some numbers. A bit of the analysis is below. # sold att Median price att # sold det Median price det…
Developers Have Long-Term Vision
Developers think and plan long-term. Generally. An example. Many years ago, I represented sellers of a piece up land up 29 North. It was a relatively small piece of land, and we received an offer pretty quickly for asking price. About twenty years later, all…
Talking Through Real Estate Commissions and Lawsuits
There's a good chance that what I write today will be outdated tomorrow. What follows is a general understanding of where we are near the end of June 2024 in the real estate commissions world.What have you heard about the Realtor/NAR/DOJ/commission lawsuits? What questions do…
Comparisons, Feelings, Connections | Jim’s Note – May 2024
Happy May. This month: I’m writing about comparisons, perspectives, and connecting. A bit about the Charlottesville real estate market, too. And I didn’t even get to single agent dual agency; that’s next month. Subscribe to my note at JimsNote.com. Comparison is the thief of joy.…