Selling Charlottesville real estate in Central Virginia since 1927

Market Insights Blog

Reverse Mortgages are worth considering if you are 62 or older

September 17, 2010

Most people don't realize that President Reagan was instrumental in creating today's Reverse Mortgage.  While President, he was smart enough to see that Social Security was not going to be the answer for providing seniors the cash they would need to meet their expenses.  The reverse mortgage used prudently and in the right situation can create a very beneficial situation.  The good news it can now be used on home purchases vs just on your existing home.  Here is an January, 2010 Washington Post article that get much more specific. http://www.washingtonpost.com/wp-dyn/content/article/2010/01/21/AR2010012105405.html

 

Is Homeownership a good thing?

September 16, 2010

Last week's Time Magazine cover story http://www.time.com/time/business/article/0,8599,2013684,00.html provided some interesting insights as to why home ownership isn't always right for everyone.  Here is a link to a Wall Street Journal article giving 10 reasons why http://online.wsj.com/article/SB10001424052748703376504575492023471133674.html?mod=WSJ_RealEstate_LeftTopNews folks should consider Home Ownership.  Take the time to read them both and then decide what is right for you.

The Women’s 4 miler for the fight against Breast Cancer was a huge success

September 4, 2010

This morning right on time at 8am thousands of women (young, older, and oldest) left http://foxfieldraces.com for the 18th annual 4 mile trek down and back up Garth Road.  These women have spent the last 12 weeks training http://www.w4mtp.com/index.htm under the enthusiastic tutelage of http://www.roywheeler.com 's Joan Esposito.  It was a perfect morning for a race and from start to finish it epitomizes what makes Charlottesville such a special place to live.  This race takes Hours, Days, Months to pull off and happens because of the illustrious Pink Ladies who take this cause on with a passion.  The generosity of the people who make up the Charlottesville area is shown not only in the hopefully $400,000 raised but also in the volunteer hours of the Pink Ladies and hundreds of other volunteers like the runners' spouses or significant others, area high school track and cross country teams, the Charlottesville Track Club, and the misc others who don't fit into one of those groups.  The comraderie that is established while training is shown as folks finish a race that 12 weeks earlier was a goal they weren't sure they could achieve.  My favorite picture taken away from my time cheering these women on as they sprinted, walked, skipped, held hands, linked arms toward the finish line was the Moms and daughters that were participating together and the women that were clearly doing it for someone battling cancer or who had lost someone from this dreadful disease.  Whether you were a participant, volunteer, or like me showed up to cheer those I knew toward the finish line, you left encouraged, motivated, fulfilled, and happy that you call Charlottesville home.

FHA offers a 1 month window to folks thinking about buying a home

September 1, 2010

 Buyers have been sitting on the fence as to whether to buy now or wait.  Although home prices have stabilized, there are still certain parts of Charlottesville and the surrounding counties where prices are still dropping.  That, along with interest rates remaining at a 50 year low, keep purchasers thinking that it is better to wait and see what happens.  Here is one reason buyers using FHA financing should consider a purchase this month. http://rismedia.com/lowes/8355/9957