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Blogging between appointments!

in General Real Estate on March 11, 2005 March 11, 2005

Busy today ... just signed two listings this morning in Crozet, had lunch with my daughter at school, then took pictures of another property we are going to be listing in Crozet and off to a Closing. Having hotspots all over town makes my life so much easier and more efficient!

Bubble or not?

in General Real Estate on March 11, 2005 March 11, 2005

The articles abound on a daily basis - are we in a real estate bubble? Investors have been turning from the stock market to housing for years. First-time homebuyers have been squeezed up and out of the market. Dilapidated houses are selling for extraordinary amounts of money. Hmmm ... On WINA Wednesday morning, there was a discussion about the lack of affordable housing. One gentleman...

Pay attention to your loan documents!

in Buyers on March 11, 2005 March 11, 2005

Prepayment penalties — requiring borrowers who close out a loan in the first few years to fork over some extra cash — have long been common on the so-called subprime mortgages issued to borrowers with blemished credit records…. Most of my buyers are choosing to use ARMS rather than fixed rate mortgages. …But prepayment penalties can sting, particularly when mortgage rates are moving up or…

Staging homes

in General Real Estate on March 10, 2005 March 10, 2005

I just listened to an interview with Barb Schwarz, a staging expert. Call me a real estate geek, but it was fascinating. The gist is that staging homes adds value - it is that simple. By presenting a home in its best light, Sellers can realize literally thousands of dollars; this is why I do this (where applicable and the Sellers are amenable to this)...

More on tax assessments

in Albemarle on March 10, 2005 March 10, 2005

More discussion on the county government's tax increase (from the DP). This quote sums up the argument against the skyrocketing values with no reduction in the mil rate. ?People should not have to sell their homes because they can?t afford their property taxes,? she said. Unless the gov't is prepared to increase the services it provides by a commensurate amount and spend our money more...

Better schools on the horizon in Greene

in Greene on March 10, 2005 March 10, 2005

From the DP this morning - Advocates of Greene County school expansion on Tuesday received the news they?ve waited years to hear, as the county?s supervisors cleared the way for work to begin immediately.This is great news. Taxes may increase slightly, but one of Greene's detractions over the years has been the perception of its schools. Better facilities may lead to better schools, teacher retention...

Statistical data say real estate markets are cyclical

in General Real Estate on March 9, 2005 March 9, 2005

Market cycles typically span about eight to 14 years, based on historical data, Cagan said, with the most recent real estate pricing cycle peaking in about 1990-91. "We are well advanced in the up-phase of the current cycle," he said. No study, though, he said, can predict the future of the real estate market. "We'll have to see what happens. It's clear that for the...