That’s the title of Sunday’s “The Wake-up Call with Rick Moore” on WNRN.One of the beauties of writing a real estate blog (or any blog, for that matter) is the ability to react, expand on conversations and provide context – in this case, yesterday’s show on WNRN, Buying and Selling Real Estate in Central Virginia…. Time certainly flies in radio, and the host did a great job of managing the conversation.From CvillePodcast:This week on the Sunday Morning Wake-Up Call with Rick Moore, two guests from the real estate industry talk about tips and myths of the business, and deal with the recent accusations by the NAACP that Charlottesville has a racial bias in lending rates…. If you think that today’s interest rates are high – get some perspective.3) Much more careful analysis is required in today’s market – smart purchases can absolutely be found, but finding those takes more analysis, negotiation and experience.4) On the subprime market and the NAACP’s suit, note this one disclaimer from the NCRC’s study (PDF):The disparities discussed in this report reflect a number of factors including income, wealth, credit rating, and many others…. The disparities in this report do not necessarily reveal levels of discrimination in the marketplace; but they do reveal the presence of ongoing barriers associated with socioeconomic factors.There are problems (as noted when the story first broke), but to attribute them entirely to race is irresponsible.Doing radio is fun, having the opportunity to followup is crucial.Some of the issues we touched on:Excellent story on the NCRC’s/NAACP’s lawsuitPiedmont Housing AllianceCompass Home Loans/Matt HodgesHow to protect your home equity in a falling marketMarket Statistics section of this blogLimits on Fannie/Freddie could be lifted next yearI’m actually a Realtor with Century 21 Manley Associates, not “Jim Duncan realty” :)This article is directed primarily at the anonymous caller:One source of difficulty arises from a basic fact of real estate economics: about half of home purchases are by people moving within a metropolitan area.
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Crozet’s Growth
The DP has a nice summary this morning of last night’s Crozet Community Association meeting.It was an interesting meeting, attended by approximately 300 people, most of whom may fit directly into the”How many people want Crozet to be half the population of Charlottesville?”The County has created this Master Plan, in essence asking for the public’s trust. This is a different situation – it is imperative to coordinate infrastructure and growth. The argument against building the infrastructure – roads/schools/etc. seems to hold less weight and value when the County is currently planning for that growth. The growth is not unexpected; it is in fact targeted for the Crozet area. Why Dennis Rooker played the role of politician extremely well. It is no surprise that he was re-elected last year.
Transportation discussion
Don’t tax you don’t tax me, tax the guy behind the tree.Succinct summary of the discussion regarding transportation woes around the state. We all want something done, but very few are willing to pay for any improvements. We need leaders who are willing to do the right thing, whatever that may be. I like the Road to Ruin, and this discussion is one of the reasons.This is an informative APF link from the above discussion that may have some significance to our region in the near future.Everybody agrees that traffic is no fun, but so long as it’s “not as bad as in Northern VA, Richmond …
Albemarle Redistricting
This part is stunning – However, this report does not include Old Trail Village or Wickham Pond (two developments in Crozet submitted after the committee started its work). It also does not include the proposed development at the Breeden Farm (south of I-64 near Mill Creek and 5th Street). The Breeden Farm alone could be larger than all of the growth projected for Crozet (i.e. there could be housing for more than 12,000 people, the number projected for Crozet)…. People choose homes frequently based solely on school districts and they should have some faith that their kids will have some semblance of stability in their public education.
Villages
This post at Bacon’s Rebellion pointed me to an editorial in the DP (I tend to forget that they have their editorials online).The county not only establishes strangely worded rules to rezone by, it sets up so many hoops for developers and nearby residents to jump through that all the hoop-jumping may disorient residents as much as it improves, or modifies, developers’ proposals.All the hoop-jumping probably has improved the Old Trail Village project about to gobble up land next to Crozet, but the county remains slow to make the necessary improvements to streets and sidewalks that could integrate the new development into the existing community.Whenever I hear the word “village” in this context, I am reminded of this…. A good summary of of APF’s is at the Virginia Conservation Network’s site – What is an adequate public facilities ordinance?An Adequate Public Facilities Ordinance (APFO) is a law adopted by the local government that allows it to defer the approval of developments based upon a finding by the governing body that public facilities would not be not adequate to support the proposed development at build out.What are the components of an effective APF ordinance?
…Anti-Growth Measures Defeated Once AgainVAR faced another year of numerous Adequate Public Facilities (APF) and impact fee proposals that would unreasonably restrict growth and drive up the cost of housing. APF ordinances allow local governments to defer approval of new development based on their finding that the existing infrastructure (such as roads and schools) is “inadequate†to support it.
Kelo Backlash Could Lead to Restoration of Property Rights Lost to Smart Growth and Eminent Domain Abuses
I haven’t read this yet, but will this evening – from the Heritage Foundation.