Looking at the real estate market data for the Charlottesville market – or any market in the US – is skewed by the homebuyer tax credit, which has been demonstrably proven to have pulled demand forward to the first quarter of 2010. … Now for some Second-Quarter context : First, the obvious – when looking at the historical market data for Charlottesville and Albemarle, as single family homes’ prices increased, buyers looked to attached homes and condos. … One way to look at the numbers above is to say that, last year we didn’t have the homebuyer tax credit; without it this year, the number of contracts written in Charlottesville and Albemarle would have been much lower. … Another way to look at it is that the buyers this year were going to buy anyway, and that the homebuyer tax credit was simply a bonus .
Charlottesville’s LEAP
Via press release: Charlottesville and Albemarle residents will have the chance to win $10,000 in energy efficiency improvements to their homes in a Home Energy Makeover Contest to be announced this Wednesday, July 7th. The contest is one of several upcoming opportunities for local homeowners to make their homes more safe and comfortable and save money on energy bills – including a major announcement about a suite of incentives and rebates to be made at the press conference. What : Launch of the Charlottesville Home Energy Makeover Contest and announcement of new energy efficiency incentives and rebates for the community. When : Wednesday, July 7th – 1:30 pm Where : Charlottesville Community Design Center, Downtown Mall Who : – Charlottesville Mayor Dave Norris and Cynthia Adams, Executive Director of the Local Energy Alliance Program (LEAP) – Local contractors who will perform home retrofits as part of the contest – Local homeowners who have recently been involved in pilot energy efficiency assessments and retrofits Local Energy Alliance Program – Charlottesville (PDF)
Twitter Week in Review
Fascinating question on CSPAN this morning – "Is America exceptional?" # I'd like to take the day off to watch the #worldcup but I'd rather try and earn some new business. # The folks here are Awesome. They fix my glasses at least 3 times a year. (@ Visionworks) http://4sq.com/9Rj4U4 # Second set of new listing photos of the day. I'm really just in the…
HR 5623 – Homebuyer Assistance and Improvement Act of 2010
Pass ed . To amend the Internal Revenue Code of 1986 to extend the homebuyer tax credit for the purchase of a principal residence before October 1, 2010, in the case of a written binding contract entered into with respect to such principal residence before May 1, 2010, and for other purposes. Woo .
In Which I Call the Bottom of the Charlottesville Real Estate Market
I wonder if I’m going to be right. … I think we’re going to see a bottom of the market in or by 4th Quarter 2010. If we can achieve mere stagnation by then, I will be pleased. We’re not going to know the bottom until we have the benefit of 18 months of hindsight.
Now This is Interesting – Altos’ Market Mapper
Get Charlottesville real estate market reports delivered to you based on where you are interested … var partnerId = ‘52708950’; var chartServer = ‘charts.altosresearch.com’; var regServer = ‘www.altosresearch.com’; Very interesting. So if you’re looking for market data in Scottsville, click there and sign up (spam free as always), in the City of Charlottesville, click. I’d like to be able to re-center and save the map, because very few of my readers and clients are interested in Richmond and there seems to be One note: ignore the data prior to September 2009; there was a glitch in pulling the data. I’ve added this as a page to RealCentralVA as well .
Show Notes from Sunday’s Radio Show Discussing Charlottesville’s Real Estate Market
Assessments are a starting point when looking at market value. – Pricing a home to sell in Charlottesville – price it right from Day One, regardless of what you need or want to make. – What are some of the steps to take in preparation/anticipation of selling a home? … Less about staging and de-cluttering and more about the psychological steps taken to prepare for selling. – Selling vacant homes in Charlottesville – – This is the story about vacant homes and homeowner’s insurance – Getting rid of the house. – ” Accidental landlords ” – Accidental Landlords and the Shadow Inventory – What if – you can’t sell your home for more than you paid for it? … Businesses are held to different standards than homeowners – right, wrong ? – Fannie Mae Cracking Down on Walkaways – Fannie Mae’s Announcement – “Fannie Mae will also take legal action to recoup the outstanding mortgage debt from borrowers who strategically default on their loans in jurisdictions that allow for deficiency judgments” – Lenders Chase Borrowers for Money Lost in Foreclosures – “In many states — such as Florida, Illinois, New York, Texas, and Virginia, to name a few — lenders have the legal right, known as a deficiency judgment , to go after borrowers who owe money on their foreclosed home. … Is the Charlottesville area housing market accessible to to seniors? – What is the Charlottesville real estate market doing right now ? – — Ignore the national real estate data — Charlottesville and Albemarle foreclosures are increasing — Detroit’s bulldozing homes ; Charlottesville’s not that bad. — One of the reasons that the Culpeper market has been hurt so badly – It’s the exurbs .