I love living in Forest Lakes!

It all started the summer we moved down here from balmy New Hampshire.  We were at the North pool.  It was around 85°.  Large fluffy clouds were mirrored in the small lake below, a gentle breeze wafted the tantalizing scent of French fries from the pool-side café, and all around were the giddy  sounds of children splashing and laughing.  At that moment, I remember turning to my wife and in unison we both said “This is fantastic! It’s like living in Disney World!”

Yes, I know, a place doesn’t make who you are, but we were ready for Charlottesville!  I mean the weather alone was worth the move, but add to it all the cultural influence of a world class university along with services and amenities unheard of back in New Hampshire, and you can see why we’re thankful every day.

We’re thankful for the seemingly endless opportunities available here that we didn’t have in New Hampshire, like pools and swim team, miles of walking trails, easy access to goods and services, and a wonderful sense of community.

In NH we lived on a busy road with no children nearby, no neighbors, no community.  Here, we’re on a cul-de-sac and there are herds of children migrating across my lawn every day.  And our Forest Lakes community bursts at the seams with daily activities and weekend family fun as households empty and we intermingle our lives  and share our experiences, together.

I love living in Forest Lakes, and I’d be happy to talk with you about what I truly believe is one of the nicest, family oriented communities in the Eastern United States!

GoTo: Forest Lakes Properties for pictures, videos, and community happenings.

                             Charlottesville VA Real Estate and the Weekly HUD Foreclosure List For:

                                                               January 27th, 2010

·         No HUD properties within 30 miles of Charlottesville at this time.

·         There are 33 REO/Foreclosed homes for sale in Albemarle county and Charlottesville:

The following are the links to the selected listings.
http://caarmls.com/CAARReports/ListitLib/show_report.aspx?ID=6486605811

·         There are 15 short sales in Albemarle county and City of Charlottesville:

The following are the links to the selected listings.
http://caarmls.com/CAARReports/ListitLib/show_report.aspx?ID=6486605834 Coming Soon To Market: 3 bed, 2 bath detached home in Mill Creek North2 bed, 2 bath 1st floor condo in Glenwood Station

4 bed, 2.5 bath home w/ 4+ acres, hot tub

Call or e-mail me today if you have questions and/or comments regarding these and any other real estate listings.

 

Charlottesville VA Real Estate

 Fulton W. Gaylord–Assoc Broker, SRES, ABR, e-Pro
Authorized HUD Representative, Certified REO Specialist
Keller Williams Realty
1885 Seminole Trail, Suite 100
Charlottesville  VA  22901
434-220-2228Fulton@KW.com                           _
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“Turning Your Home Dreams into Reality”“Licensed to Sell Real Estate in Virginia”“Each Office Independently Owned and Operated” 

O.K., I’m not gonna’ bore you with another Rent Vs Buy article.  I  thought instead I’d tell you how surprised I was getting a load of my weekly postcards to renters returned by the US Mail with “VACANT–return to sender” on ‘em.

I was under the impresion that because of this horrific economic crisis NOBODY was buying, everyone was stayin’ put, renting.  I had visions of people everywhere being driven back in wimpering masses, back to lowly, small, musty hovels owned by slum-lords, never escaping the rental trap, relegated to paying their landlords’ mortgage, forever.

But all these returned postcards undeliverable because units were vacant?  What’s up with that?

So I started researching our local MLS.

Stats show that there is indeed an over-abundance of rental listings–173 ! Ranging from $750 to $20,000 a month.  And there are even more available through the local papers, Craigslist, or posted by flyer around town. Lots of vacancies.
So what do we take from this?

Well, some of these rentals are of properties that weren’t selling and owners need SOME kind of income from them rather than just let them sit empty.

Some of the glut IS due to the slowed economy.

And some of this trend is because many of that group of renters paying between $850-1200 a month in rent came to the realization that they could BUY something, something fairly nice, something they could call home, that fit within that monthly payment they’d been paying to their landlord.

They could buy precisely because of the recent downturn in the market which had provided them with a great buying opportunity:

1. Low, LOW interest rates (remember the last economic meltdown where interest rates were up around 16-20%??)

2. Price corrections-I mean looka t some of these “hot” spots, like Lake Monticello, where some of the prices have dropped nearly in half!

3. More opportunity to “call the shots”–buyers nowadays have more chance of asking for the moon from sellers, and getting it!

Maybe YOU should take a look and see if this economic crisis can provide opportunities for YOU to buy.

It NEVER hurts to ask questions and explore possibilities.

Call or e-mail me.  Let’s take a look at current interest rates, possible seller concessions, local home price corrections, and see if they can help get you into a home of your own!

Every week, on Best Home Buys In Charlottesville, I offer up a selection of homes that I think are great opportunities for today’s Charlottesville home buyer.  You’ll find this list sometimes has Bank Owned, FSBO (for sale by owner), Foreclosures, and Short Sale properties.  Others will represent somewhat distressed properties that were over priced and hence sat on the market for a year or better–which means they would probably welcome your offer!  Others could include homes where I think the sellers are market savvy and have priced their home agressively.

So please visit Charlottesville’s Best Home Buys for the week of January 26th, 2009, and come back every week.

And as always, I welcome your suggestions and comments.

Be sure to check out my 20% Buyer Rebate Offer, as well.  Good on ANY home you purchase through me (except foreclosures and short sales).

Fulton Gaylord–Assoc Broker
Keller Williams Realty
1885 Seminole Trail, Suite 100
Charlottesville  VA  22901

434-220-2228

Fulton@kw.com
Exclusive Real Estate Resource–(private)

I’ve assembled my top picks for the best home buys in Charlottesville for this last week of January.  These are homes I think represent great bargains in this buyer’s market.  Short Sales, Foreclosures, over-priced listings that have been sitting on the market for a year, FSBO’s (For Sale BY Owner), and homes that are agressively priced because seller (and Realtor) are savvy to the market.

Bear with me, please.  The site just went active today and yes, it needs a little work.  But please, take a look.

Weekly List of Best Home Buys in Charlottesville, and surrounding counties of Albemarle, Fluvanna, and Greene.

Fulton Gaylord–Assoc Broker
Keller Williams Realty
1885 Seminole Trail, Suite 100
Charlotesville  VA  22901

434-220-2228 (leave a message for a call back)

Charlottesville Real Estate Resource

Jan

11

Buying a home is very emotional.

I know, the great negotiators tell us to keep it a business transaction, don’t muddle the affair with emotions!

But buying a home, especially your first home, can be emotionally taxing.

I remember one of my first transactions back in 1980 something.  It was a young couple with a new baby girl.  He was an engineer, she was a new stay at home mom, having just left her job working at a downtown law office.  Wonderful people.

They had contacted me through my web site.  We set up an appointment to meet at my office. We met and discussed the different ways I could or couldn’t represent them. We talked about their needs and wants, and began to develop a plan of attack to make their home buying dreams a reality. Everything was going great.

Next, we hit the road armed with listing sheets of several properties that interested them.  We looked at several of these homes until we came upon one they loved and that seemed to be perfect for them.

The house was what they had been dreaming of, a little bungalow in a great location not too far from his work. There was a small park nearby and it was an easy drive to schools and shopping.  And, the price was less than they had anticipated.  Everything was just right.  Yet they were hesitant and I couldn’t tell why?

I thought it would be helpful to draw up a list on paper. Two columns, positives down the left, negatives on the right.  I was sure that once they saw all the positives compared to what, one negative? that common sense and logic would win out, we’d sit and write up the contract, they’d move into the perfect home, and I’d make Junior Sales Leader for the month.

So, right then and there, they sat down and came up with a list some thirty strong on the positive aspects of the property, with only ONE negative.

And they decided not to buy the home.

W-H-A-T ? !

What a lesson on the power a negative can have, especially an EMOTIONAL negative.

Don’t they say that fear of loss is a greater motivator than promise of gain?

Thirty, count them THIRTY pros on why they should buy this house, and only one con.  And they decide not to because there was a large wetland/pond bordering the back part of  the property and she remembered a young kid drowning in just such a pond behind her friend’s house when she was a young girl.

Well, I learned my lesson.  No, I don’t just mean I never used the pro and con sheet again.  No, I learned that buying a home is an emotional deal.  It’s the single largest purchase we make.  It is part of our American Dream.  It is a benchmark of our achievement.  It is our family’s security.  Home is where the heart is.  Our home is where generations of memories begin, and

we’re not going to buy into any property that hits an emotional
no-no button and threatens our dreams.

They say Realtors should move every 2-4 years just so they’re reminded of what a chore and emotional rollercoaster selling, buying, and moving is–so Realtors can better feel with their clients the truly emotional nature of buying a home, and realize it’s not just a business transaction.  It’s not just about the numbers. It’s not just a house.  It’s a home.

So what are emotional cues?

Usually they are things we react to in a property that we must accept because there is no way to change them, for example, a wetland on the back of the property or a train track close by. True, a bright baby blue house will have its emotional impact upon first viewing, but it can be overlooked if the property is right, because it can be re-painted.

And usually, they are things that appraisers and Realtors try and put a discount value on when evaluating a property—but find it difficult because each of us weighs these emotionally charged negatives differently. How much do you discount a nearby train or pond or a school yard across the street?

How do you feel about a house with a sump pump in the basement?  Even if it looks dryer than a bone and never used?  I’ve had buyers shy away from a house because of that.

Or a home where after inspection it’s determined there are elevated radon levels?  A problem that can be fixed easily, and inexpensively.  Yet I’ve had buyers back out of a home even though the seller was willing to pay the $900 to remediate the radon problem before closing.

What are your emotional cues?

It’s important to know because your emotions steer your buying, and buying a home is an emotionally charged and emotionally taxing, life changing event.

Fulton Gaylord
Keller Williams Realty
Charlottesville  VA

424-220-2228
Fulton@kw.com

Provided by The Charlottesville Home Selling Team.

Mike Platt, my Senior Loan Specialist with MetroCities, recently sent me the following information pertinent to the Charlottesville Virginia Real Estate Market:

“I keep hearing on the news that in order to purchase a house it now requires 20% down”.

For single family primary residences this is simply not the case, and it is important to let your buyers know the facts.

Right now in the Charlottesville area, the 3 main types of low down payment loans being used are,

* VA loans w/100% financing,

* FHA loans w/96.5% financing, or

* Conventional loans w/95% financing.

Regarding the conventional loans (5% down) the Mortgage Insurance (MI) companies are for the most part setting the criteria and currently it requires a 620 credit score for this option. Many areas of the country are in “declining markets”, and because of that the Loan To Value (LTV) is lower than the 95% LTV option we have here, so we are very fortunate to have all these options available for our clients.

Remember these options combined with historic low interest rates 5% on a 30 yr fixed loan, will allow more of your clients to purchase a home.

It is up to us to let them know the good news.”

Geat advice Mike!  Thanks for the input.

Fulton Gaylord–Associate Broker

Keller Williams Realty

Charlottesville  VA  22902

434-220-2228

Fulton@kw.com

Ask me about my 20% Buyer Rebate Offer, good on ANY home you buy through me!

O.K., so Charlottesville is about 2 1/2 hours from the Chesapeake, does that mean boating is a non-sport for us, here?  This came up because I just met a yacht broker based out of–yup, you guessed it, Charlottesville!  So, when a client recently asked me about boating, kayaking, canoeing, etc., I thought I would delve into the matter and see what I came up with.  Here goes!

Let’s explore Boating In Charlottesville!

1.  Kayaking and Canoeing: A list of suitable major lakes and rivers follows. I did not get into smal ponds.

2.  Sailing Clubs:

Member Sailing Organizations in Virginia

Sailing Clubs on the Chesapeake

3.  Marinas:

Anna Point Marina

High Point Marina

Deltaville Marinas (on the Chesapeake, where I have my 28′ Formula)

4.  Local Large Lakes

A.  Sugar Hollow Reservoir
B.  Beaver Creek Lake
C.  Lake Albemarle
D.  Lake Anna
E.  Smith Mountain Lake
F.  Lake Monticello
G. Lake Hollymead-in the Forest Lakes sub-division, Charlottesville
H. Ruritan Lake-Fluvanna
I.  Totier Creek Reservoir
J.  Charlottesville Reservoir a.k.a.Ragged Mountain Reservoirs
K. Smith Mountain Lake
L.  Mint Springs
M. Lake Monocan-Wintergreen Resort
List of All Fishing Holes In Charlottesville and Albemarle County With USGS Contour Maps:

Albemarle Fishing Waters

5.  Rivers

A.  The Rivanna
B.  The James
C.  Moormans River
D.  Mechums River

List of Virginia Scenic Rivers

6.  Parks/Recreation Areas (with navigable waters)

A.  Chris Green Lake: no gas powered engines allowed
B.  Walnut Creek
C.  Mint Springs
D.  Darden Towe-with access to the Rivanna River

7.  Tubing !

8. Canoe Livery

9. Rivanna Rowing Club

List of Outfitters:

1.  Mountain River Outdoors

2.  Blue Ridge Mountain Sports

3.  Blue Hole Canoe Company-Gordonsville

4.  Extreme Sports

5. Dick’s Sporting Goods

I love the water, I’m a Pisces afterall!

So I’ll see you out there on the river lake, or ocean. Remember, be responsible DON’T drink and boat.

Feel free to contact me:

Fulton@kw.com

434-220-2228

Check out my web site: Fulton’s Site

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):

July Sold Property Analysis

Address                        List Price         Sold Price             DOM               % Chg              SP/Sqft

3136 RIDGEFIELD RD     $339,000         $321,000               7                    5.3%            $160.66
2668 KENDALWOOD LN  $484,500         $438,000             467                  9.6%            $122.65

Total Averages              $411,750         $379,500             237                  7.5%            $141.66

August Sold Property Analysis

Address                        List Price         Sold Price              DOM               % Chg              SP/Sqft

2030 LEYLAND DR          $349,900         $330,000              18                   5.7%            $149.46
2628 FERNLEAF RD        $399,000         $385,000              70                   3.5%            $233.47
1979 SHADYBROOK TRL $459,000         $440,000             121                  4.1%             $163.45
2565 KENDALWOOD LN  $490,000         $480,000               9                    2.0%            $88.89

Total Averages              $424,475         $408,750              54                   3.8%             $158.82

September Sold Property Analysis

Address                        List Price          Sold Price              DOM                % Chg             SP/Sqft

3061 AMBERFIELD TRL   $409,900          $410,000             110                 -0.0%            $170.8
33374 TURNBERRY CIR  $574,950          $617,391               63                 -7.4%           $181.43
3117 EDGEWATER DR     $765,000          $725,000             212                  5.2%            $146.02

Total Averages              $583,283          $584,130             128                  4.2%            $166.09

Currently 16 properties for sale in Forest Lakes.

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.

3133 RIDGEFIELD RD

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.

1744 WINTERBERRY CT

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.

1166 RUSTIC WILLOW LN

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.

3209 TIMBERWOOD PKWY

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.

2013 Locke Ln

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.

1969 Heather Glen

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.

1853 STEEPLECHASE RUN

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.

2190 TIMBER MDWS

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.

1864 AMBERFIELD DR

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.

2195 TIMBER MDWS

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.

1916 BECKER LN

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.

2726 JASMINE TER

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.

1622 PURPLE SAGE CT

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.

1440 BIRCHCREST LN

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.

309 PLEASANT PL

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:

434-220-2228

Fulton@kw.com

A thousand and one thanks for reading!

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:

Market Comparison

DATE RANGE                                       Average Sale Price      Price/Sq Ft                   DOM

_____________________________________________________________________________________

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.

139 Buckingham Circle

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.

392 Bayberry Way

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!

831 Harris Rd

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.

1050 Old Fox Trail Ln
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.

1249 Timberbranch Ct
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.

1270 Peach Tree Ln

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.

1770 Sourwood Pl

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.

2703 Westmreland Rd
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.

3070 Morewood Ln
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.

 3136 Ridgefield

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.

And check out my 20% Home Buyer Rebate Offer: http://www.BuyerRebateOffer.com

Voted #1 Real Estate web site:  http://www.CharlottesvilleHomeSellingTeam.com

Fulton Gaylord
Keller Williams Realty
300 Preston Ave., Suite 500
Charlottesville,  VA  22902

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