Selling Charlottesville real estate in Central Virginia since 1927

Market Insights Blog

Leroy Houser’s Tips on Selling your Home

June 30, 2010

Click on this link http://www.youtube.com/watch?v=Zeduygr02Tk  to Watch Leroy Houser explain the four things sellers can do to make their home more saleable.  This presentation was held on 6/23 at Farmington in Charlottesville thanks to the sponsorship of New American Mortgage, Ednam and 1st Dominion Title, and Roy Wheeler Realty Company

The ins and outs of Short Sales with Attorney Chip Royer

June 22, 2010

Check out the podcast of Real Estate Matters with Michael Guthrie.  Attorney Chip Royer and I discussed Short Sales on this past Saturday's show.  Click to listen http://www.wina.com/pages/7050283.php? to what I thought was a very informative 1/2 hour.Listen to what was a very informative show for Realtors, Buyers, and Sellers considering short sales

Modern and Contemporary Design is making a comeback in the Charlottesville Area

June 21, 2010

Thanks to Frank Cava for posting this article.  Modern and Contemporary homes in the Charlottesville area are indeed making a come back especially as folks "think green" in the way they want to live. http://www2.timesdispatch.com/rtd/news/state_regional/article/CVIL17_20100616-222804/351664/

Learn about why having an Energy audit on your home could be beneficial

June 16, 2010

Click on the link http://www.wina.com/Real-Estate-Matters/7050283 to hear the podcast from the 6/12 radio show on WINA and WVAX in Charlottesville.  You might also check out the web site http://www.leap-va.org for more information on how to make your home more energy efficient.

Will Tax Credit Closing Deadline be extended?

June 11, 2010

According to the AP as written in this USA Today article, http://www.usatoday.com/money/economy/housing/2010-06-10-home-tax-credit_N.htm Congress is working on an extension of the June 30th deadline for the Home Buyer Tax Credit.  The date to buy a home ended on April 30, 2010 but a purchaser needs to settle on the home by June 30th.  Due to the lenghthy process of dealing with lenders on short sales, many are concerned they won't be able to complete the transaction by June 30th.  Without Capitol Hill's intervention, many people would miss out on the $8,000 or $6500 tax credit.

Was the Spring Market fueled by the Tax Credit or Low interest rates

June 7, 2010

http://washington.bizjournals.com/washington/stories/2010/06/07/focus1.html?b=1275883200^3442711&ana=e_vert Click on this link to read the perspective of one Realtor in DC as reported by the Washington Business Journal http://washington.bizjournals.com/washington/

Personally, we feel the jury is still out on this assesment.  Let's take another look after June.  the market has not been as active since April 30th despite the interest rates remaining low so that gives credence that the tax credit deadline did create the sense of urgency the housing market needed.  These next 3 weeks are going to be pretty crazy as purchasers struggle to make sure the homes they bought settle prior to the June 30th deadline.  If you are settling on a home this month, you may very well want to settle early if at all possible as the attorneys and closing companies are going to be slammed in that last week of June.

NAR asks Congress for flexibility on the Tax Credit Deadline of 6/30/2010

June 3, 2010

Did you miss it? Near the bottom of today's press release about the NAR Pending Home Sales Index figures for April 2010 was this tasty little nugget:

“However, the recent housing cycle has brought long delays related to the short sales approval process by banks, and from ongoing appraisal issues. There could be a sizable number of homebuyers who responded to tax credit incentives, but may encounter problems meeting the settlement deadline by June 30.” Because of these market challenges, NAR has asked Congress to provide flexibility on the deadline for closing.

FHA Commissioner, David Stevens speaks on the housing and mortgage industry

June 1, 2010

David Stevens took time out of his busy schedule to speak on Michael Guthrie's Real Estate Matters Radio Show.  He is confident that the housing market will improve slowly but steadily.  The good news is interest rates continue to be at all time lows.  Click on the link http://www.wina.com/Real-Estate-Matters/7050283 to listen to the podcast of the May 29th show..