Amy’s Yard
Life in Charlottesville, Virginia: community, events, real estate, lifestyle, the choices we make and more than a few random observations!
Cvillian, 40-something, mother of 2; full-time Realtor, quasi-vegetarian & local foods devotee, rapidweaver, quilter; trying to find more hours in the day, like you.
Charlottesville Area Association of Realtors 3rd Qtr 2009 Market Report
Hot off the presses.....and it is too late at night for me to share my insightful analysis, but I thought I would get it out there for the data geeks and real estate hobbyists!
The Shadow Market
Interesting series on the Foreclosure Crisis and the "Shadow Market" from the WSJ. ( thanks Phoenix Real Estate Guy ). For those interested in this ongoing weight on our recovery, it makes good reading.
No matter how you slice it, one thing is clear: this is far from over. The bottom line for many of the hardest hits part of this country (thankfully I do not put Charlottesville in that category):
“The distressed real estate market has become the real estate market in many locations, and that isn’t going to change for years.”
I found part 2 of the article, about banks now avoiding acquiring foreclosed homes, particularly fascinating.
Take away: the Housing Recovery is fragile at best.
Live where you bike...
Great little story about a Portland, Oregon Realtor targeting the "biker" crowd.
My Nest Colleague, Jim Duncan, has taken to biking around Charlottesville and/or Crozet, to listings, showings etc, when he can, thanks to his residence in a "walkable" neighborhood in Crozet and our office being right downtown off the mall....though it would be nice if Charlottesville were far more interconnected and bike-friendly.
Where I live out in Ivy, I take my life in my hands if I try to ease my bike on to Dry Bridge Road, a cut through from 250 to Dick Woods....I love the country, but oh, for a bike path!
Will the Credit be Extended?
The current $8000.00 First Time Homebuyers Tax Credit is set to expire on November 30th and as anticipated, the conversation has started to turn to the question of an extension, or even permanent codification of this credit:
There are two sides to this coin:
Needless to say, many (not all) Realtors, Builders, Home Buyers and Politicians see extending the program as essential. It certainly has stimulated economic activity in a way which materially impacts the lives of the individuals involved in these transactions and personally, I'd rather see the government subsidize home ownership rather than overproduction of genetically modified corn...
...but on the other hand, home buying is already subsidized by the mortgage interest deduction, this credit will never reach the bottom tier of the economic ladder where housing issues are most immediate, and this approach to stimulus does not help rebuild our infrastructure, build a new green energy economy or improve education.
What's your opinion?
The Look of Autumn - Real Estate in NY
via nytimes.com
I love keeping an eye on the Manhattan real estate market. Market trends and activity tends to parallel our own, somewhat, some principals are universal, and of course, we do get a surprising number of folks who relocate from NYC to Cville, so I am glad to see some resurgence in NYC activity. But mostly I just get a kick out of the insane prices for small spaces and the well dressed, willowy real estate brokers.
Real Estate in High Gear? Is it just me...
...or has local real estate activity kicked into high gear in the last two weeks?
I have shown property to four different clients this week, am writing an offer tonight and have another client to tour all day tomorrow.
The pending expiration of the first time home buyer tax credit may account for some of this, but only 1 of my 5 clients this week qualifies for that benefit anyway.
Charlottesville Realtors: what's your take?
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