There is no doubt that the Charlottesville/Albemarle real estate market is fragile and will travel a long road to recovery. There is some signs of life though which can be seen by reading this article www.tinyurl.com/ylk8y43
Excess inventory of homes is still the #1 problem in the Central Virginia area. We still have twice as many resale homes on the market as necessary but the new home inventory has shrunk considerably. Sellers are much more realistic with their pirce than they were even a year ago and banks while still needing to improve, are finally making the short sale process a little less frustrating. Couple these facts with low interest rates (which everyone says have to go up) and the Home Buyer tax credit of $8,000 for new buyers or $6,500 for move up buyers, and you have legitimate reasons to consider buying sometime soon. One tip for those of you who are considering buying a home. Make sure your mortgage payment is equal to what payment you could expect if you rented the property. That way if you had to move or wanted to keep the property as a long term investment, you would not be negatively effected financially.
Biscuit Run has officially been transferred to the state of Virginia to become a State Park.
The previously planned residential development is a large piece of property in Albemarle County near Old Lynchburg Road and Route 20.
After much debate, the Albemarle County Board of Supervisors approved plans a few years ago for a 3,000-home development on the property. However, the developers recently changed those plans and decided Wednesday they would rather give the land to Virginia to create a State Park. Making it park land sounds really nice but this property is in the County's future growth area. Now that its use has changed, the Charlottesville area real estate market will change as well given this land will no longer be used for future housing. It will be interesting to watch how this will effect new home development in the future.
The Governor's Office is expected to provide additional details on this story Wednesday evening.
Source:
http://www.newsplex.com/home/headlines/80368542.html
This letter was published in Charlottesville's Daily Progress this morning. http://www2.dailyprogress.com/cdp/news/opinion/letters_to_the_editor/article/community_really_came_together/49937/
Rick DeLuca's Technology Tips for December 10, 2009
More Convenient Then Remembering: Sometimes, we find articles and sites we want
to revisit. Remembering addresses or bookmarking isn't always convenient. Futz.me is a
handy little site. Start by setting up your Futz.me account. When there's something you
want to read later, use your address bar. Enter "futz.me/username" (minus quotes) before
the Web address. Futz.me will e-mail you a link to the page. Futz.me can do more than
that. You can send yourself a reminder via the address bar. You can also send pages and
reminders to your phone http://futz.me/site
Get Auto Repair Estimates: It is difficult to find a mechanic for your car because it is a
challenge to comparison shop. When it comes to repairs, getting the right estimate can be
messy. That's where RepairPal can help. It will provide you with estimates for car
maintenance and repairs. Of course, there's more to RepairPal than estimates. It will also
help you locate mechanics that specialize on your make of car. You can also post your car
questions. Or, visit the Encyclopedia to learn more about cars. http://repairpal.com
Exercising Your Brain Too: Head over to Games for the Brain. You'll find plenty of
games to help you keep your mind in shape. There are fun word games. You can also
play Mahjongg, Sudoku and Chess. There are also some games that you can put on your
Web site or blog. These games are great to give your brain a quick little tune up. But, be
careful! It would be too easy to play for hours! http://www.gamesforthebrain.com
Add Custom Frames To Photos: Not only for Christmas and other holidays. How
about those photos you send to prospective clients? Why not create your own photo
cards? It is much easier than you think. In fact, you don't need to know anything about
photo editing. HP has a variety of photo frames and borders you can use. And they're
free! Start by picking the design you'd like. Then, upload your photos. You can upload
from your computer. Or, choose a photo hosted on Snapfish. Simply drag your photo
onto the photo frame or border. When you're done, print your card!
http://www.hp.com/hho/hp_create/photo_frames_borders.html
Compare Estimated With Actual Gas Mileage: New car estimated gas mileage is
usually optimistic to actual. So, you may wonder how the actual mileage stacks up. After
all, your driving style and other factors play a role in mileage.That's where Fuelly can help.
This site is useful for anyone who is car shopping. You can see owners' actual mileage.
You'll see just how optimistic the estimated mileage is.You can also use it to see how
your driving habits affect your mileage. Or, it can help you determine when to get your
car serviced! http://www.fuelly.com
Sharing Ideas That Make A Difference...
We at Roy Wheeler Realty Company are pleased to have been selected by the Albemarle Family Living Magazine readers as their #1 choice when it comes to real estate. Roy Wheeler's Denise Ramey was also recognized by the readers as their #1 choice when it comes to individual Realtors. This award ,along with our greater than 99% client satisfaction rating, shows that our commitment to quality service in a professional way is not just a slogan but the way we do business with everyone with whom we have the privilege to serve.
Charlottesville / Albemarle County New Home sales up for the 3rd consecutive month. New Home sales in October higher than 2007 and 2006 and the NAR released stats showing that existing home sales nationwide went up 10.6%
see attached article for specific details
http://money.cnn.com/2009/11/23/real_estate/existing_home_sales/index.htm
the Senate passed 98-0 the Unemployed Insurance bill which included the homebuyer tax credit. the House passed it by a vote of 412-12. It extends the first time homebuyer $8K credit through 4/30, '10, & a $6500 credit through 4/30, '10 for homebuyers selling properties in which they’ve lived for the last 5 consecutiv...e years (closings must occur by 6/30, '10), and income limits of $125K single or $225K married.
There is reason to believe the Senate will approve an expansion and extension of the Home Buyer Tax Credit. This is by no means a done deal but things seem to be moving in that direction. It is encouraging to see a move up buyer element to the plan but the minimal amount being discussed may not be enough to motivate someone to go through the process of selling their home and moving to something else. http://www.cnbc.com/id/33520633
