The solution to many of real estate’s problems
Can possibly be found in this working paper just released by the AEI-Brookings Join Center. In my opinion there are many flaws in the study, primarily that it seems they are describing the real estate environment of a couple of years ago. The bolding that…
Quick CharlAlbemarle numbers
There are currently 1591 properties actively on the market in Charlottesville, Albemarle and Fluvanna (203 of which are condos).* 438 of these 1591 properties are marked as New Construction - 28% of properties on the market now in the above localities are new construction. How…
Required reading for sellers
This article from today's Wall Street Journal (paid link) is direct, cogent and simple; simple in a good way. Finding an article in the big media about today's changing market that provides good information that is not written from a fear-mongering frame of mind is…
Riddle me this
How can a property be a "wonderful home priced below market value?" Market value: The fair market value is the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to…
Baby Steps
What does a good Realtor do for his or her clients? Yesterday I was walking my two and a half year old down the stairs. For the first set, she went alone, step by step by step. (there are seven, we counted) She went slowly…
Valuation in a Vacuum
Appraisals and market analyses can be two very different values. Appraisals look backwards and market analyses look present and forward. An appraisal should be a relatively scientific valuation based on square footage, features, amenities, quality of construction. A valuation provided by a Realtor typically takes…
Dual Agency – Who benefits?
The Realtor. One of the primary values a Realtor brings to a transaction is representation - representation of his client's best interests. How can a Realtor advocate for the best interests of both parties and still maintain the perception of fairness and full representation? In…
Tips to sell your house
Thanks to Seth Weinstein, guest on CNBC this morning: 1. Price your home correctly 2. Curb appeal 3. Simplify the interior 4. Freshen up the interior 5. Good "mechanical" order KISS: Keep it Simple, Stupid. Note: I love CNBC, but their website and blog are…