Selling Charlottesville real estate in Central Virginia since 1927
On Saturday 10/16/2010, CAAR President-elect Barbara McMurry and CAAR Treasurer, Brad Conner joined Michael Guthrie on his Real Estate Matters Show on WINA 1070AM. They discussed the recently released CAAR 3rd Quarter Market Report. Click on the link to listen to what they had to say. http://www.wina.com/play_window.php?audioType=Episode&audioId=4966396
If you follow this blog, you will know that the numbers shown in the Charlottesville Area Association of Realtors' 3rd Quarter report do not come as a surprise to this writer. We will be discussing the states this morning on the http://www.facebook.com/realestatematters radio show and the podcast of that show will be posted on http://www.wina.com sometime on Tuesday the 19th. I will also be adding my own comments here later as to what this http://share.caar.com/Market%20Reports/2010%203rd%20Qtr%20CAAR%20Market%20Report%20-Member.pdf shows about the current housing market and what we can expect in the future.
Take a look at all 29 entries and a list of this year's winners by going to http://www.brhba.org/
All of these homes will be open from 12-5 Friday, Saturday, and Sunday
My last post was a link to why Reverse mortgages should be considered if you are 62 or older. Here is a link to my radio http://www.facebook.com/realestatematters show where we discussed the "ins and outs" of this mortgage product. http://www.wina.com/play_window.php?audioType=Episode&audioId=4937071
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
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.
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.
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
Click on this link http://realestate.yahoo.com/promo/5-great-cities-for-retirees.html to read about why Charlottesville is such a great place for retirees. Home prices have come down and interest rates are at a 50 year low. For those of us over 62 (which many retirees are), there is also a a reverse mortgage product that is not for everyone but for those who meet the requirements, it is definitley something to look at when buying or even refinancing a home.
