Posts tagged market update

2nd Quarter Market Update for Charlottesville Region

I’m not saying that we haven’t hit the bottom, but that calling it as such with so many unknowns and new variables in the equation would be the wrong thing to do right now, despite Lawrence Yun’s statement – ” Without Forecasts, we don’t look credible .” The Realtor update (1): 1st half 2005 : 115 had more than ten sides, 296 had more than five sides, 679 had at least one, with about five hundred or so not having a single transaction 1st half 2006 : 107 had more than ten sides, 285 had more than five sides, 740 had at least one, about four hundred fifty not having one. 1st half 2007 : 73 had more than ten sides, 232 had more than five, 687 had at least one, about four hundred with zero 1st half 2008 : 44 had more than ten sides, 169 had more than five, 619 had had least one, leaving about seven hundred with zero transactions so far this year. (out of 1201 sold residential properties) From the DP on Saturday : Many real estate agents may not manage to weather the moribund market before it solidly rebounds, Savage said.

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Coming up this week

Tuesday – Why I cannot tell you with accuracy how often CSX’s trains run Thursday – One way to encourage walking/biking Friday – Market update for the Central Virginia region. I’ve found that posting market updates at the immediate turn of the month is imprudent and not the most accurate of practices, so I tend to give Realtors a few days to update the Charlottesville MLS before I post my analysis.

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Proffers, impact fees, market update, pricing land and more

There are few better motivators than fear of sounding unprepared and unintelligent – due to the last-minute call from Coy, I am now very up to date on all of the below issues.- If you’re pricing a property, price it to sell….  Solds may matter little, and what the seller paid for the property is irrelevant with regards to market value (as is the assessed value).- We discussed the current state of the Charlottesville market.- Declining markets and “Jingle Mail” – here is an excellent article on this from a professional appraiser’s point of view.- Property rights and Ron Paul (briefly)- Several callers called in and discussed the rural area ordinances that are up for a vote this evening in Albemarle County.  This is a passionate debate between property rights advocates, “greater good” opinions, preservationists and more.We didn’t get around to discussing Senate Bill 768 – which would either destroy or fix the current proffer system, depending on you perspective , but I encourage any and all to learn more about it….  They’re talking about taxes, but the word “tax” isn’t used until the last page – page 12 if you happen to print it out.As soon as the podcast is posted, I’ll post it.

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