I moved this to its own story, from today’s “Links” post, because they represent the second builder (Ryan was first) to announce major changes.Â Interestingly, while local builders have seemingly made some significant changes to their pricing and development strategies, it is the national builders who seem most affected.Â Perhaps the smaller builders are more nimble and able to alter their course?…Â Hovnavian’s only development (of which I am aware) in the Central Virginia region.Â Ryan is everywhere in Central Virginia.Read the memo here.These new market conditions have affected us in many ways and will continue to affect us in the months ahead.Â In the area of land acquisition we have been re-evaluating our current land positions and the contracts for new land in the light of these new conditions.Â Many of those contracts no longer make good financial sense when you factor in lower prices and a slower sales pace.Â Time will tell …Inman has the story as well.
I believe that they don’t put all of their properties into the MLS, so there is no accurate method by which to determine their specific market segment is doing. Buyers and employees have to be concerned in light of this news . (read the comments , too) Related reading: Not used to Northern Virginia traffic are you?
It just feels more honest and transparent.The selection of incentives from the builders are below the fold, as the list is so long. Needless to say, with all of the negotiating going on right now, it really and truly is a very good time to buy – so long as you buy smart.From K Hovnavian, who are building a “55 or better” development north of Charlottesville, sent this email out this week:You’re Invited!Khov4Realtors Open House DayAlmost 30 Realtors have already earned $3,000 and are on their way to more trips and prizes!Join them today!August 14, 2007 â€¢ 11:30 am – 2:30pmYou’re invited to an exclusive Realtor Open House Day at any of the over 80 K.Â Hovnanian Homes communities in the Greater Metropolitan area.â€¢Learn all about our Realtor Rewards Programâ€¢Find out how you can earn 2 trips, $13,000 and be entered to win a one-year lease on a Mercedes Benz!â€¢Make your job easier and more profitableâ€¢Enjoy light fare and refreshmentsâ€¢Visit 3 of our communities and earn 300 points towards rewards!*Barry Meade is offering rate buy-downs (in my opinion, perhaps one of the best offerings out there):4.75% First Year5.75% Second Year6.75% Third-Thirtieth YearsBarry Meade Homes and Union Mortgage have extended their exceptional finance package through the month of August!…Â These rates allow your client to qualify for more house up front!This promotion applies to contracts received by August 31, with closing to take place on or before September 30, 2007.Ryan Homes are offering (from June);Save Up To $100,000 – One Day Only!*Saturday, June 9 11am-5pmIncentives & Promotions Will Be Announced At 11am On The 9th!Quantities Are VERY Limited!Immediate Deliveries Are Available!Brokers Warmly Welcomed!>Ryan Homes is Offering These Once-In-A-Lifetime Incentives at theFollowing Greater Charlottesville Area Communities: …Hauser is offering:Enjoy $5,000 Broker Bonus PLUS your 3% Co-op on Fontanaâ€™s Last Available Homesite.Â Now Through August 31, 2007!Gaffney Homes:Gaffney Homes is offering a Grand Opening Special of 10% off our Glenwood Station condominiums for contracts written by August 15, 2007 and closed by September 30, 2007.Current list prices range from $322k to $473k, which means a savings of up to $47,000!!!.
Housing Starts up (national news)K Hovnavian sees high cancellations (national with a local impact)Design by fire truckSuburbs versus fiber rolloutEcoMod gets some good press (local)PMI will be tax deductible next year!
The only ones who currently have local presences are K Hovnavian who are building Four Seasons in Greene County and Ryan Homes who are building everywhere.The national trends are far too macro-oriented to directly apply locally, but they may offer insight into what direction our local market might go. For example, national builders building in Northern Virginia were offering incentives such as plasma televisions, new cars and mortgage buy-downs long (~3-6 months) before those types of incentives appeared in the Charlottesville market.In short, the large builders are a bellweather for what may happen…. Politically and economically the Central Virginia region tracks NoVa to a certain degree, if only because we are experiencing growth…. When I was working Earlysville for Tim Kaine, many of the new residents were from liberal areas of the country.
If you’re going to insult somebody, do it with class and style.Where are all the good, green products?Urbanization is the “next” big thing.Â It’s been the next big thing for some time, but it appears that we are now beginning to realize the impact of the human race’s growth and growth patterns.Â How will this impact K Hovnavian’s “Four Seasons Charlottesville” senior/active adult development (that is actually located in Greene County)?Â And finally, Marlow Harris says exactly what I think:However, all (agents/Realtors) have the obligation to stay up on market conditions and their local economy and current affairs that effect their market area.Â They should have both a micro and a macro approach to real estate, so they can best advise their clients, be they investment buyers or just those searching for their dream home.Which communities will be included in Charlottesville/Central Virginia’s search for a brand?Â What should it be?Â I have to say that my first thought when I read this.
Local builder -vs- national builders in the Charlottesville areaMold -vs- asbestos -vs- radonNational real estate websitesBlog -vs- RSS -vs- PodcastCharlottesville -vs- AlbemarleMLS -vs- FSBO – interestingly, all of the top cities are from Canada.Â In essence, Google Trends gives another means by which to present one’s argument with one’s own manipulation of statistics.