Posts tagged charlottesville real estate market

Mid-Year Charlottesville and Albemarle Market Report – 2010 (Part 1)

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 .

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Discussing the Charlottesville Real Estate Market on WNRN – 27 June 2010

I’ll be discussing the state of the Charlottesville real estate market this weekend on WNRN . The following are some of the stories I was (re)reading earlier this week to prep for the show.

… Vacant Homes for Sale in Charlottesville and Albemarle – June 2010


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Dealing with Home Buyers’ New Psychology

When we started, we were looking at new construction, and I had to tell them that whatever they wanted changed would have to be done by them, at their expense after closing, as the builders were not going to make any concessions or alterations. … That’s a difference that matters – both to actual sales numbers and perceived sales numbers – to the market’s collective psyche, if you will. See for yourself (PDF). Add to this the fact that the average Days on Market in May 2006 was 69 and the average Days on Market in May 2010 is 106 and the market rightfully feels slower.

…Many Sellers don’t want to “give their homes away” (hint: price your home to sell from Day One ) and many Buyers want to feel like they get a “deal” and many buyers have unreasonable expectations – resale homes are used homes; they are not new construction.

…They also are prepared to walk away if things don’t go their way – there will be another house that suits their needs and wants; five or six years ago, another house would come on the market, but it would probably have been more expensive.

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