I was working with a young couple, new to our area. I was cautious and wary of them. They told me over and over that "they wanted to negotiate" with any potential sellers we got under contract.
Well, I didn't exactly know what that meant. I mean we certainly weren't in a buyers market. On the contrary, it was customary to have multiple offers and have to offer more than asking price--and even that wasn't a guarantee for successfully winning a bid.
So, I thought I would go along and show them some properties. I wouldn't get too involved, maybe show them a few homes and if I felt they were just fooling around wasting my time, I'd refer them out to another agency!
Well, we found a large home under construction. They wanted me to get further info. Which I did. They wanted to go back to the property several more times. I took them.
Then, they decided they wanted to see some more homes. Well, at this point I started to feel it might be time to cut them loose. They weren't serious. And I kept getting back to that "negotiate with the sellers" statement. And, on top of that, they kept telling me upon entering each home, that each was overpriced and they wouldn't pay the money for it.
RED FLAGS!
A couple of weeks pass and I'm still with 'em. O.K., I was a new agent and had already spent the commission. They decide they want to put an offer on that new construction. Really? Great. "I'll meet you at my office, 5:30 tonight and we'll write it up!"
With a kiss to my wife I screeched off to the office, excited to finally get these people under contract!
They came, promptly at 5:30 PM. Very polite. Very professional.
They started answering my line-by-line queries: When do you want to close, what kind of financing, earnest money deposit, price...how much? Guys, you've seen how the market is, you know you stand to lose this property by coming in with an offer that low...
O.K., I put it down. But I'm only gonna' waste my time maybe once or twice more then I'm ditching them, just watch!
Then, the clincher.
"You want me to ask the builder to finish the bonus room over the garage? For FREE??"
"Guys, come on, this is too much. We're wasting our time!"
"Fulton, are you representing us as our Buyer Agent, or not? Please, put it in the contract!"
Alright. I did it. He had me on that 'am I or am I not representing him' thing.
But I knew the builder would never go for any of this.
So I presented the offer. The builder's agent had an even worse reaction than mine. Ouch. But I reminded her that she DID have to present the offer.
She did.
A few days later she called me. We both couldn't believe it. The builder countered only a little higher in price and agreed to split the cost of finishing the bonus room!! Huh??
I relayed to my buyers. They were pleased with the negotiations and, after a little more haggling (which I won't recount, here) , agreed to the contract.
What lessons did I learn?
1. Advise your clients but don't be so rigid just because you think you know what's commonplace for this market.
2. If you don't ask, you don't get (think Mom taught me that one).
3. Lighten up, Francis! It's not about the money. It's about representing your client, your future referral source, and doing what's right.
4. I could never have known what the seller's motivations were. Nor did it matter. He wanted to sell. I had ready and willing buyers--I just mistook their readiness because of my cultural boundaries. I needed to listen to my client's needs and put down what they were comfortable with and negotiate with their best interest in mind.
5. And though they came from a different cultural and geographic area, I shouldn't assume they were naive. It was customary for them to negotiate in ANY market--that was their cultural norm.
I learned a lot during that transaction. Lessons I carried forward, as I represented their friends and peers moving to our town.
I like to take breaks from working on my web inter-connectivity and real estate blogging by going for a run. It's a great way to view neighborhoods and see the inventory! My doctor says he actually thinks running lubes my joints and keeps my arthritis at bay.
Yup, I'm a running Realtor. No, I haven't shown homes clothed in my running sweats and sneaks. I don't think the Charlottesville real estate market's ready for that!
I wanted to share some resources that map and log my runs and get me pumped up.
Check out http://www.favoriterun.com. It's free and like I said, kinda fun. You can check out some of my runs by typing in my user name: bygbyrd (yeah, ha ha, a "friend" gave me that handle!), putting in VA and Charlottesville.
All three of these are simple mapping programs that also give elevation maps. I like to map out new routes at night. It gets me all jazzed up to go out and run the next day.
You already know that you're going to see a lot of other runners out there because Charlottesville is supposedly one of the most active running communities in the country! There are races of various intensities almost every week. And good advice can be found at club events, training runs, and the several local running stores.
I love living in Forest Lakes, I think it's one of the nicest places to live in, and around, Chsrlottesville, Va.
1. Contoured landscape hides the fact that you are in a large development with over 1500 homes! Trees, hills, lakes, and manicured landscaping. Add a hot air balloon flying overhead at least twice a week!
2. Self contained schools with bus transit.
3. Basketball courts, volleyball nets, tennis courts, 2 pools (one with a water slide!), work-out facilities, baseball and soccer fields, and miles of trails for biking/running/walking.
4. Easy access to downtown, shopping, Washington, DC, or east and west on I-64.
5. Hundreds of kids--it seems like we live in a child migration zone with everyday herds of 'em ambling around the neighborhood.
So I wanted to keep you up with the real state trends in this Charlottesville suburb called Forest Lakes.
First, a round-up of Charlottesville real estate sales in the past 3 months (Forest Lakes only):
Lowest Price Highest Price Average Price Avg Price/Sqft
$259,900 $579,500 $368,487 $171
*(This does NOT include condos)*
I've put the MLS notes as descriptors. If you want to see MY take on some of these, or to see if they made my Top 10 Best/Worst Home Buys In Charlottesville, GoTo: Top 10 List
1. 3133 RIDGEFIELD RD $259,900 and you'd get my 20% Buyer Rebate = $1,559 cash at closing.
This wonderful truly affordable home in coveted Forest Lakes North allows you to relax.The house is ready to move into - absolutely great condition.Dramtic beautiful location on cul-de-sac. A one-level home with an open floorplan. Immediate occupancy.
2. 1744 WINTERBERRY CT $279,900 and you'd get my 20% Buyer Rebate = $1,679 cash at closing.
Beautiful home in Forest Lakes North! This home is in immaculate condition. Features include gorgeous hardwood floors, fresh paint throughout and a cozy breakfast nook. This home is on a private lot on a cul-de-sac. The large backyard is fenced and includes a storage shed. A gate leads to miles of walking trails. The home also features a large screened-in back porch that your family will enjoy all Spring, Summer and Fall. Forest Lakes boasts two swimming pools a fitness center & tennis courts.
3. 1166 RUSTIC WILLOW LN $299,900 and you'd get my 20% Buyer Rebate =$1,799 cash at closing.
Open floor plan, 9'ceilngs on 1st floor, 2-story foyer, tray ceilings in DR & MBR. Cheerful, sunny interior. Great Room has FP w/built-in TV cabinet above. Hdwd. floors on most of main level, 1st floor Master BR w/adj. luxury bath-dbl.vanities & garden tub, 3 BRs up, 1 is the bonus room over garage(might also be used as playroom,studio,etc.) Custom window shades, security system. Back yard fenced, has shed.Lawn maintenance provided by HOA. Near new shp.Ctr. & NGIC.
4. 3209 TIMBERWOOD PKWY $324,900 and you'd get my 20% Buyer Rebate = $1,949 cash at closing.
Freshly painted and ready for you to move in you will find this two story Colonial in the north section of Forest Lakes. There are two attics for your storage. There is a wonderful garden spot already started for you. The Sellers are offering $5,000 in closing costs with an acceptable offer. They have found another home and are very motivated to move.
5. 2013 LOCKE LN $329,900 and you'd get my 20% Buyer Rebate = $1,979 cash at closing.
Set on a quiet cul-de-sac in Forest Lakes North. Beautiful, updated 4 br(all on 2nd floor), 2.5 bath home. LR w/bay window, lovely DR, FR w/wood burning f/p, built-in bookcases,eat-in kitchen w/huge deck, fenced yard, plus rec room, office, patio, storage,lovely slate walkway, freshly painted,new carpet upstairs. Extensive landscaping w/mature trees.PLUS: ALL NEW: Fisher/Paykel W/D, HeatPump, paved drive,full light kitchen door,Refrig,light fixtures,& faucets.Walk to pool,tennis, GREAT SCHOOLS!
6. 1969 HEATHER GLEN RD $345,000 and you'd get my 20% Buyer Rebate = $2,070 cash at closing.
Adorable, one owner Cape Cod on a cul-de-sac, with first floor master bedroom. In excellent condition- family room,/dining room combo, 2 fireplaces, large storage area, rec room in lower walk out area, 2 car garage. Improvements include new heat pump, gas furnace (dual fuel high energy saver system) dishwasher & carpet. Excellent value in great neighborhood.
7. 1853 STEEPLECHASE RUN $345,000 and you'd get my 20% Buyer Rebate = $2,070 cash at closing.
NEW hardwood floors in foyer and dining room, NEW carpet in family and living rooms. Bright eat-in kitchen opens to family room w/built-in bookcases around fireplace. Basement play room and workshop. FENCED backyard. Great schools. Save gas - WALK to everthing - shopping, pool, tennis, day-care, soccer & playground.
8. 2190 TIMBER MDWS $358,588 and you'd get my 20% Buyer Rebate = $1,434 cash at closing.
Reduced Again!! This elegant home is located in Forest Lakes a short distance from the lakes, pool & tennis club. It boasts an eat-in kitchen with pantry and all new appliances. The kitchen is attached to both the great room & dining room, which is great for entertaining or relaxing with the family. Upstairs you will find a large master bedroom with two closets, new ceiling fan, attached master bathroom with jet soaking tub, separate shower and vanity. The landscaping is perfectly maintained.
9. 1864 AMBERFIELD DR $359,900 and you'd get my 20% Buyer Rebate = $ 2,159 $cash at closing.
Welcome Home to Charlottesville conveniences without the city feel. Completely Updated and ready to move into. This home is located in sought after Forest Lakes you have a community within a community. Forest Lakes has two large swim/tennis clubhouses with all the amenities, lakes, walking/biking paths, etc. 15 Minutes to UVA! Come Home to Vacation! Low HOA dues too! Call for details. Purchaser will receive 8 day 7 night Hawaiian Lodging Accomodation Certificate upon Closing.
10. 2195 TIMBER MEADOWS $359,900 and you'd get my 20% Buyer Rebate = $2,159 cash at closing.
Price Reduction on well maintained Colonial with 3 bedrooms, 2.5 baths on private cul-du-sac lot in Forest Lakes North. Partially finished basement for future expansion. Open, light, Kitchen/Family Room combination for great entertaining flow. Private first floor home office. Substantial usable storage space. You will want to visit toappreciate.
11. 1916 BECKER LN $395,000 and you'd get my 20% Buyer Rebate = $2,370 cash at closing.
5bedrooms with large family room, eat-in kitchen, rear deck, new wood flooring in DR,LR & Family Room, new tile floor in kitchen, breakfast nook, all bathrooms. New carpet upper and lower floors, 2-car garage with workbench area, many appliances to convey.A full range of neighborhood amenities including lakes,trails,tennis & swimming. Convenient location to airport, upscale retail & grocery shopping, excellent choice of restuarants.
12. 2726 JASMINE TERRACE $419,000 and you'd get my 20% Buyer Rebate = $ 2,514 cash at closing.
Wonderful Forest Lakes home that has been very lightly lived in. The generously sized family room with fireplace is open to the kitchen & features abundant windows. The large rear deck extends that living space to the outdoors. The master suite has a vaulted ceiling, walk-in closet, & private bath with whirlpool tub. The basement includes a finished rec room & an oversized 2 car garage. Enjoy the Forest Lakes amenities w/ swimming, tennis, exercise room, ball fields, & extensive walking trails.
13. 1622 PURPLE SAGE CT $429,500 and you'd get my 20% Buyer Rebate = $2,577 cash at closing.
Experience the best of living in this spacious Colonial situated on a quiet cul-de-sac lot! You'll be amazed by the amount of privacy the partially-wooded rear yard allows. Inside you'll find formal and informal areas, beautiful hardwood flooring,Oak built-ins surrounding the Family Room Gas Fireplace,Spacious Kitchen open to the Family Room, Large Living and Dining Rooms, Luxury Master Bedroom Suite, Finished Lower Level with Full Bath and Attached Two-Car Garage.
14. 1440 BIRCHCREST LN $525,000 and you'd get my 20% Buyer Rebate = $3,150 cash at closing.
So many features in this one of a kind home: generous first floor master suite, double height great room with loft, airy eat-in kitchen w/bartop and double pantry, dining room with chair rail, family/sunroom, upgraded ceiling fans, wood slat blinds, rear deck overlooks sunny lawn, dual heat pump, CAT5 wiring, tons of storage in attic and basement, on cul-de-sac, backs up to wooded HOA property. This lovingly maintained home is currently being painted on the interior so you can move right in!
15. 309 PLEASANT PL 579,500 and you'd get my 20% Buyer Rebate = $3,477 cash at closing.
You need to see this yard & the home shows like a model. Large home on private cul-de-sac on prime lot in desirable Forest Lakes Subdivision; very level, backs to woods & common area. Full walkout basement mostly finished w/ bedroom, full bath, large rec room w/fire place & tons of storage. Finished bonus room upstairs w/closet can be 6th bedroom or multi purpose room. Large Master w/ sitting area, vaulted ceilings whirlpool tub & more. Awesome family community & the amenities are endless!
I welcome comments, critique, and/or questions.
Feel free to call and leave a message, or e-mail me:
Let's discuss the commercial corridor of Rte 29 in Ruckersville, Greene County, VA, and its inclusion in Greene County's Master Plan for sustainable growth. Because somethin' ain't workin'.
Drive south down Rte 29 from Madison, and you come to a lighted intersection with Rte 33 east/west. You just passed an area on your right leveled to make way for Lowe's and Wal-Mart. On your left is a broken down old shack that, if it's July, is joined by a carnival style hawking booth where fireworks are sold to unwitting bargain seekers. Your eye wanders to two more rundown buildings with huge signs describing rare antique finds and books are to be found inside. Scanning around more, you see a Burger King, a gas station, and an old music store in a little hovel. You consult your map and it pin points you in the middle of Ruckersville, Greene County, Virginia. And you realize, Ruckersville is ugly.
Ruckersville is Capitalism at its worst. No regard for community planning. No greenery or any thought for aesthetics. Nope, build the cheapest, the fastest, and capitalize on the location right on 29. Ruckersville needs the taxes generated by its commercial base to support a small population. It delights in allowing a Lowe's and a Super Wal-Mart to come in and level the area so that we can enjoy convenience at bargain prices. Ugly is as ugly does.
Now the road expansion of Rte 33 up to the mountains and Skyline Drive was done very nicely. Greene County got THAT right. Of course it's become a huge source of easy funds for the local coffers as the county and state have seen fit to police this section of road with at least 6 unmarked vehicles of various sizes and colors as well as a slew of state and local troopers. Wow! That's tax dollars hard at work. Do you think we could possibly cut back on over-policing this high crime corridor and perhaps put some of that money into subsidizing an after school program for kids whose parent perhaps can't afford it?
How about requiring a higher level of site aesthetics for all new construction here on out, and any sites that either change hands, rebuild, tear down, or improve current buildings--require them all to invest X amount of dollars towards bringing property up to a pre-set, planned expectation, in exchange for a tax credit.
Greene County officials reassure us that they DO have a plan. They could pull out a multi-page line by line plan and show us what tax revenue is generated, what it’s earmarked for, and their vision for the town going forward. But you know what? I can SEE the visible signs of their plan right before my very eyes, and I’m telling you, it’s ugly!
The plan needs to be redone.
So, I think Ruckersville (Greene County) should take one year to develop a new Commercial Corridor Master Plan. This plan would ensure that:
1. sustainable growth could continue well into the future, guaranteeing tax revenue to support a burgeoning community.
2. increase unique visitor stops by tourists as well as repeat visits from locals, thereby increasing business profits.
3. resources are appropriate for the needs of the community and being able to adjust accordingly (e.g. too many costly police monitoring a scenic by-way--is that the best use of our tax income?).
4. This plan would increase community pride—because we WANT to be proud of where we live.
5. empower citizens to dictate terms when negotiating with the Wal-Marts of the world, not the other way around, because their community now becomes the community of choice for businesses. Citizens don't become slaves and answer to businesses beck and call just because the need for tax revenue to pay teachers, firefighters, and police is so desperate.
6. A plan like this would protect better against wild fluctuations in market values both for commercial AND residential interests
7. slow depreciation and erosion of values by requiring uniform property maintenance and construction standards that are clearly explained in the Master Plan.
8. build businesses with longevity and staying power. Bring in and support businesses that buy into the community's vision for sustained development and health.
9. a master plan is equivalent to a business plan, and a community that has a plan that is fluid, all-encompassing, and pro-active has a better chance to attract matching state and federal funds as well as high bond ratings in order to raise capital.
--WE DON'T HAVE TO LIVE IN A DISPOSABLE SOCIETY--
We want our businesses to be community partners. We don't want them to be of the mind “here today, gone tomorrow”.
Communities too often sell their souls to the Devil just to turn a buck and get much needed tax revenue. Too often towns and cities turn a blind eye to development regulation and zoning, and, as a result, poison our air and water and bulldoze any possibility for esthetically pleasing construction under the ground. You see it all across America. But you also see communities learning from their mistakes, you see communities able to change as the world changes.
So, is it too late for Ruckersville?
Green County doesn’t have the money to go develop a complicated new Master Plan. And of course you have some who question whether one building is any uglier than the next? They don't think the intersection area is that ugly.
And besides, many people would question how we can tell a business owner that he's got to take from his profits to go gussy up his lot just so that he can fit in with some socialist Master Plan.
If a building IS ugly, it won't attract any one, and it'll go out of business soon enough--survival of the prettiest, right?
“We are what we are in Ruckersville”, they say. “ We're at an intersection off Rte 29 in Greene County. The American dream is all about taking opportunity and running with it. Too bad for your weak business sense that has to have some government agency always come and make things right and equal for you, the less fortunate-BAH!”
“Keep it down there in Charlottesville with all them crunchy artsy-fartsy liberal wanna-bees. We need to grow. We DON'T need someone who doesn't understand business to tell us how to run ours!”
“And if you try, we'll just go somewhere else.”
O.K. Alright. I understand. We all need to turn a buck.
But hear this: I had a commercial broker tell me the other day that if it gets too bad--or rather, WHEN it gets too built up and gross around here, he'll just move. He did it when it got bad down in Atlanta. And before that, when he was in Jersey, too.
But this is my home. I don't WANT to pull up stakes and move. I don't want to live in a disposable community.
Can Capitalism and development go hand-in-hand with preservation of the heart and health of our community?
The one constant is the influx of more and more people into our area. More population pressure means eventually, limited space and resources, which causes a town’s infrastructure to suffer, which ultimately degrades our community.
That’s why planning is vital to the long term health of a community.
Planning means:
· We must first identify citizen’s needs,
· we qualify and quantify these needs, prioritizing them by popular vote,
· we raise tax revenue to pay for these needs,
· we solicit other possible funding sources—i.e. bonds, state and federal assistance,
· our master vision for the community stretches far into the future, and protects our future generations,
· and, we must also look to repair what is by developing a retro-active quality standard to help us bring a larger measure of beautification to the intersection of 29 and 33, now.
The intersection of Rte 33 and Rte 29 is horrifically ugly. But you know, we CAN do something about it. And the first thing we can do is develop a Commercial Corridor Master Plan with input from our citizens and broadcast its winning vision across the region.
I'm a Realtor who lives in Virginia but (still) owns his ex-homestead in another state.
I'm a Realtor who had to hire a Realtor to sell my ex-homestead in another state.
I'm a very un-happy Virginia Realtor because I hired the worst Realtor this side of the Mississippi to sell my ex-homestead in another state.
I'm a very un-happy Virginia Realtor because I hired the wrong person to sell my ex-homestead far away in another state. That was my fault. I was a dummy. I know that because my wife reminded me of it daily.
BUT, I'm now a wiser Virginia Realtor because I (re) learned several key things when hiring a Realtor. And I am relaying them to you so that you'll likewise be much the wiser and your wife won't call you a dummy.
First, I learned perspective. Going through the process of interviewing, hiring, and working with several Realtors as a consumer, was illuminating. All I wanted was a weekly call from my Realtor. A simple call. No big woop. Tell me if there were any showings, what the feedback was, and what marketing activity was done to promote my property. Not a long call. If there's nothing to report I'm not gonna' bite your head off. Just call me and let's talk.
But apparently follow-up and follow-thru are one of the most difficult things to do for the Realtors I dealt with.
Next, I learned N E V E R hire a friend, a relative, or someone you feel OBLIGATED to work with. Worst thing you can do. Whomever you hire should earn the job like anyone else. They should PROVE to you that they're the best person for the job. They should have global exposure through their internet presence and professional and social networking channels.
They should be professional marketers who also happen to show homes occasionally.
The Realtor you hire should be accountable for the results they do or don't produce.
The Realtor you hire should have a strong grasp of the local market, and armed with this knowledge, should be able to support very accurately the price opinion they determine is best for the sale of your home within the time frame you indicated would be ideal.
Your Realtor should be excited to be a Realtor and excited about the prospect of selling your home.
The Realtor you choose should be a full-time agent who derives their livelihood solely from the sale of real estate. No part-timers. Markets change and there's too much to keep up with now-a-days for part-timers to be truly effective and provide the best service to you with the least liability.
Your Realtor shouldn't always be yapping. They should be able to hear YOU when you talk.
Your Realtor should look professional. What's with Realtors wearing jeans and a t-shirt?
Now, one clarification.
Am I saying all Realtors are moronic, poorly dressed, deaf, unknowledgeable goons somehow related to you? No. But it IS too easy to get into real estate, and it's too easy to get out. That's why in our Charlottesville market alone there are over 1100 people who hold real estate licenses. Out of those 1100 less than 200 of them did more than 7 transactions last year. I don't think the other 900 or so can really say they're successful, professional, full-time, market sensitive Realtors on a mission to sell your home.
Anyway, that's just my two cents worth. I love the art of selling real estate. I'm proud to make my living as a Realtor. And I'm grateful to have the tables turned so that I could see through the eyes of a consumer, giving me a special gift-the gift of perspective.
I'm a Realtor in Virginia who had to hire a Realtor.
I'm a Realtor in Virginia who had to hire a Realtor-and that opportunity, and the lessons I learned from it, will help me understand the needs of my clients better, and that, I hope, will make me a better, more successful Realtor.
Here's another twist for this months' entry: we're going to talk about the Top 10 Charlottesville Homes that SOLD between July 1st and August 8th of 2008, and why.
We also want to compare the current market against the same time period last year. So much is being made of this sluggish housing market, with the media constantly filling us with their crys of doom and gloom. Is it really that bad? Should we be scared, worried sick, and possibly suicidal?
Well, here in Charlottesville and Albemarle County, Central Virginia, 101 detached homes (no condos or attached homes considered here) sold between July 1st and August 8th this year. Let's take a closer look and compare the numbers:
July 1st, 2007-August 8th, 2007 $ 534,605 $ 190.26 90
With home prices between $128,000 and $4,600,000
Avg difference between listed $ and sold price was -2.7%
July 1st, 2008-August 8th, 2008 $ 497,804 $ 176.96 124
With home prices between $150,000 and $2,160,000
Avg difference between listed $ and sold price was -4.5%__________________________________________________________________________________________________________________________________________________________________________
Let's take a look at some of the biggest movers and shakers and talk about why they sold, while others still sit on the market.
The 10 homes represented here ranged in price between $167,000 and $372,000, our bread and butter market--meaning this price range represents the largest segment of homes changing hands at any given time. Avg difference between listed $ and sold price was -4.1% and average price per square foot was $160.
1. 139 BUCKINGHAM CIR. Cute house, complete with glass sun room, mature gardens, a detached studio, all very close to everything UVA. The Realtor, Gracie Haines, did a fantastic job writing descriptive copy for each picture. She obviously checked spelling, too. Thank you, Gracie. House was a high $208 per sq ft. But with only 34 days on the market, location, condition, the extra studio, glass sun-room, and gardens offered the buyer what they wanted at the price they wanted to pay.
2. 392 Bayberry Way. It took a $27,000 price cut to come to terms, but it was priced agressively considering others in neighborhod with average list price of $400,624 and DOM of 113. Most recent solds in same development have run between $221,500 and $389,500 DOM 110 (since August of last year). This was 2nd most expensive home that has sold in Deerwood in almost a year.
3. Only 6 days on the market. Did Angela Dodson under price her listing? No, just because she was able to do something few Realtors have been able to do as of late, does NOT mean it was under priced. On the contrary, she had a very clean property, close to UVA, good pictures with well written descriptions, and a price below $300,000. Good work Angela! I bet the sellers aren't complaining!
4. 1050 Old Fox Trail Lane. It seems anything in Crozet is still gold! 4 bedroom, 2.5 bath well maintained home in Western Ridge. Ooodles of well taken pictures that really showcase the property well. In the past year there have been 9 homes sold in Western Ridge, this one was the lowest priced, but it was the highest per square foot @ $173 ! Average days on market in the development was 130 days. This property was only on the market 13 days! The average differnce between list price and sold price was -2%. This property only -.6%. Well done. Well done.
5. 1249 Timberbranch Ct. This home sold for a little more than its list price. Interesting that a larger (vacant) home down the street listed for more but sold for the same price yet in a longer time.
6. A three bedroom, 1 bath ranch in Crozet for $167,000? I'll take it! Sold "As-is" but didn't seem to turn off buyers who gave it only 14 days on the market! These listings always move quickly.
7. A nice little home in the heart of Hollymead. Another $30K whack at the closing table, but still...it sold in 74 days being vacant. However, it was the lowest selling home since last January in the Hollymead development. AND, it took the highest cut from list to sales price, -5% where Hollymead on average during the same period saw only a -3.4% correction overall. Price started too high and it's never easy to sell when you're posting pictures of empty rooms.
8. 2703 Westmoreland Rd. In the Westmoreland sub-division. Another vacant home that took 64 days to sell and a $32 thousand dollar cut from asking price. But look closer. 7 homes sold in this sub-division since January 1st of 2007. This was the cheapest. However, the average cut from list to sale was -5%. But on this home -11.2% ! Only 3 pictures, 2 outside showing basically the same thing, and 1 interior. You should also look what a difference using a small real estate agency with little national exposure can mean when trying to sell your home for the most money in the shortest amount of time.
9. I know you've been reading this and asking yourself "I thought this was Top 10 Homes Sold..." and here I've given several that certainly don't get any prizes for getting top dollar. But sometimes, like this example near Crozet at 3070 Morewood in the Rockbridge sub-division, it's about getting the job done in a down market. Since last August only 4 homes have sold, this one being the least expensive. In comparison, this home didn't have as much in the way of baths, etc. But I applaud the realistic seller that adjusted their price. A -6% cut from list to sales price, compared to -3% overall in sub-division. But price per square foot was highest at $158 compared to a $150 average.
10. And finally, congratulations to Tommy Brannock for pricing this Forest Lakes home to sell. Tommy put this house in the right spot where the buyers were buying--right at the $161 per sq ft average--a vacant home, but the way the pictures were taken, hard to tell! Agressively priced, properly priced. A Realtor who accomplished their client's goals.
Thanks for reading. I'm open to comments and/or suggestions.
I'm also taking new clients, so feel free to contact me by phone: 434-220-2228 and leave a message OR, by e-mail: Fulton@kw.com.
The government's newly enacted legislation offers home buyers a $7500 tax credit. This credit is available for first-time home buyers only. (Haven't bought a new home in the past 3 years).
* The maximum credit amount is $7,500.
* The credit is available for homes purchased on or after April 9, 2008 and before July 1, 2009.
* Single taxpayers with incomes up to $75,000
* Married couples with incomes up to $150,000 qualify for the full tax credit.
I had the pleasure of meeting with Paul Pence, yesterday. What a great guy! Paul and his dad are owners of Colonial Structures, Inc., out of Winston-Salem, NC. They're building cedar log homes in Charlottesville, VA!
Have you seen these homes? W-O-W !
I didn't know:
1. Cedar log homes can save you as much as 45% on your heating bills and
2. 24% on cooling when compared to a conventional home (according to a recent study by the Bureau of Standards, Wshington, DC.).
With the cost of energy going through the roof, those two claims alone would make you wanna' take a look (if the pictures didn't get you already!)
3. Cedar--Northern White Cedar is a remarkable wood. Only cork can equal its insulating quality. Northern White Cedar has both the highest R-factor and greatest thermal mass of all woods. It would take a concrete wall 7 1/2 feet thick, or a brick wall 3 1/2 feet thick to equal the insulating efficiency of just 6 inches of Northern White Cedar. And unlike most other woods, Northern White Cedar is not saturated with sap and naturally resists decay and insects.
4. Colonial Stuctures, Inc. offers a limited Lifetime Warranty because of their strong belief in the durability of cedar and in the quality construction of their homes. I like their motto: "If you can dream it...we can build it!"
5. Post and Beam construction--This unique method of construction provides the ultimate in structural strength. This also makes cedar homes more adaptable to natural surroundings.
6. Tongue and Groove Logs--Uniformly milled logs prevent air filtration. They are warm in the winter and cool in the summer.
7. Buy as a kit--Yup, you can get complete buildable kits delivered to your site in 30 days. They start at about $40,000, looks like. So if you've always wanted to build your own home, but didn't know where and how to start? Right here!
8. Or They'll Build On Your Lot--prices are remarkably reasonable. Paul showed me a gorgeous home they built on Smith Mountain Lake--only $450,000--ON THE LAKE!!! So I imagine the lot alone was that much. And this home was big and beautiful!
I didn't really want this to come off as just an ad for Colonial Structures, Inc. Rather, I wanted you to know that these cedar homes are now being built in Charlottesville and Albemarle by this company, and I know a little about them.
If you want more information, feel free to call, or e-mail me:
I hate to be a naysayer, but they say fear is a bigger motivator than any hope for gain. And I really feel someone should tell you to get movin' and buy a home, now! No, I know, no one can time a market, and we're all aware the housing market stinks right now. It's all fear and loathing and doom and gloom in Charlottesville and the rest of the country, right?
Well, I'm going on the record right now--this is THE time to buy. Is it the "best" time? Probably not. But if you have a housing need, whether it be to live in, or to invest, now, rather than later, is THE time. I'll try not to say "I told you so" next year at this time.
Why?
Have we bottomed out? I don't know. I can only talk intelligently about today, yesterday, and back into antiquity--backed with a voluminous amount of statistical data. We know the real estate market is cyclical. We know it has appreciated over time showing it to be a great investment and truly part of the American Dream.
But the idea of waiting for a better deal is fool-hardy, and this is why:
1. PRICE CORRECTIONS:Prices have corrected, and yes may still continue to go down, but they've corrected to the point where we've seen substantial price drops on a majority of homes--especially in the outlying areas from Charlottesville.
2. MEDIAN SALES PRICE UNCHANGED: BUT, median sales prices have remained relatively unchanged. For more on the "Official Word" on the state of our real estate market, read: CAAR Market Analysis 2008
3. REDUCED INVENTORY: Inventory is starting to reduce from the large surplus we have been carrying, but there are lots of homes to choose from, and more chances of finding a perfect match for you and your family in the area you want to live.
4. SELLER INCENTIVES: in a "Buyer's Market" means "having it your way" is more than just a slogan for a burger joint! Concession:Something given up or agreed to in negotiating the sale of a house. For example, the sellers may agree to help pay for closing costs. GoTo: Real Estate Glossary.
5. LIMITED FINANCE OPTIONS: Availability of finance avenues is constricting. Last week IndyMac closed. Fannie Mae and Freddie Mac are looking for government help to artificially prop them up. Countrywide sold to Bank of America, and CTX just announced they are closing as of September. Currently, to get any loan better than 20% down you have to have almost perfect credit scores. Read July 23rd, 2008 New York Times : Woes Afflicting Mortgage Giants Raise Loan Rates
So waiting might cost you the ability to find funding sources, making it impossible to buy the house you need, the house you dream about.
6. RENTALS: Rental prices are increasing, and vacancies are low. As often happens in this market atmosphere, rentals are getting increasingly hard to find and more expensive. Landlords are able to be much more picky about who they rent too, the amenities they offer, and the activities they allow as a provision of leasing--e.g. allowing pets or smoking.
7. BUYER REBATE OFFER: Here's another motivator--I'm the only Realtor to offer a 20% cash back incentive on any home you purchase using me as your buyer agent! W-O-W !! To calculate how many thousands of dollars this means in your pocket, GoTo: Buyer Rebate Offer.
To re-cap:
Renting affords you no pride of ownership. Add to that increasing rental rates, fewer vacancies, and no tax breaks, make owning a home still the most important part of acheiving the American Dream for most US Citizens! Buying now is a good choice, too, due to the possibility of extremely reduced finance options by this time next year.And finally, with more homes to chose from, market corrected prices, a higher possibility for seller concessions, and my 20% buyer rebate offer this truly is a great time to buy a home in Charlottesville and Albemarle County, Virginia!For more information call: Fulton Gaylord--Associate Broker Keller Williams Realty 434-220-2228 OR
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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