Posts tagged charlottesville real estate blog

How Much is the Buyer Broker Fee?

That question is one of the many reasons that I choose to use Buyer Broker agreements with my buyer clients . (and why ending cooperative compensation would be a boon to the real estate world ). 1 – The Seller and the Sellers’ Realtor are going to do whatever they can (legally and ethically) to induce a buyer to look at the house … and hopefully buy it.

…(this argument becomes much harder when the seller has no or negative equity) – “It’s none of the Buyer’s business how much I’m being paid!” (as argued by the Buyer’s Agent who ostensibly is seeking to “represent” said buyer) Look, I’m not begrudging Realtors earning livings what I do encourage is for buyers to be aware of what may be going on behind the scenes.

Read More

Friday Chart – Charlottesville MSA’s New Single Family Home Listings in April 2010

April 2010 has felt like more listings have been coming on the market and more have been staying on the market than in previous years. But, feelings don’t necessarily matter so I’d rather look at the data. Looking purely at the data , a greater percentage of active listings in the Charlottesville MLS have gone under contract this year versus 2009. … Should you rush out and buy a home today because the tax credit is ending?

Read More

FHA Changes – What they mean for the Charlottesville real estate market

Guest post by Matt Hodges with Compass Home Loans : FHA has picked up much loan volume that the sub-prime world vacated – so much so that for every ten new purchases, FHA insures three.

…For all new case numbers (FHA’s mechanism to keep track of loans they insure) assigned on April 5, 2010 or later, the UFMIP will increase from 1.75% to 2.25%. … It might be at a $200,000 loan, but at $100,000, most borrowers will expend at least $3000 in closing costs, pre-paid items and points. … If HUD removes the ability to get seller concessions at the lower loan amounts, they will be directly affecting the housing recovery and effectively be discriminating against poorer borrowers, who can only afford lower priced homes.

Read More

An Interesting Question – Schools and Housing Values

Seth Godin asks in the “Ubiquity of Competition” : There are twenty towns you can choose for your family’s new home. One invests in its schools, has a focus on inquiry, AP courses and community, while the others are muddling through, arguing about their future. … One of them is represented by a broker who is a pillar of the community, a friend of many and a role model for the industry. … Whenever buyer clients ask me about the quality of Charlottesville and Albemarle County schools, I answer with a market-based response.

Read More

Twitter Week in Review – Some Real Estate Conversations, Some Off-Topic

Great caller on @ CSPAN just now “throw them all the hell out and start a *real* third party” response “…and we’ll leave it right there” 🙂 #

… @ jolenta Long day of showing ahead tomorrow; I’ll get it done tonight w/ @docusign’s help and be done. in reply to jolenta #

… #SMCCVille’s Event today – Traditional Media and Social Media – If you can’t make it, ask questions using # SMCCVille http://post.ly/JcSM #

… RT @tgonser: @ JimDuncan Dying to know the answer to “I love DocuSign but…” The blog image shows a red x.[try this http://bit.ly/4SCPdU ] #

Read More