Charlottesville Real Estate Talk

Charlottesville VA Real Estate Market Report - August 2010

Fri, 03 Sep 2010 22:38:44 -0400

This Charlottesville VA real estate market report will focus on the sales of detached homes in the city of Charlottesville during August 2010.

August 2009 averge list price $348,997.
August 2010 average list price $367,366.

August 2009 average sale price $340,642.
August 2010 average sale price $348,996.

August 2009 median sold price $315,000.
August 2010 median sold price $289,900.

August 2009 %sold/list 97.60%.
August 2010 %sold/list 94.99%.

From 1/1/2009 - 8/31/2009, 211 homes sold on the Charlottesville VA real estate market. During the same time frame this year 186 Charlottesville homes sold.

The city of Charlottesville is one of the few market in our Central Virginia area that has not seen an increase in sales over 2009.

Contact Pam Dent, e-PRO, SRES, NHD, REALTOR®, Real Estate III, Charlottesville, Virginia at 434 960-0161 to buy a property in the following areas in Central Virginia: Charlottesville, Albemarle County, Keswick, Glenmore, Ivy, Crozet, Earlysville, Free Union, Cismont, Scottsville, Fluvanna County, Palmyra, Lake Monticello, Louisa County, Louisa, Mineral, Spring Creek, Orange County, Gordonsville, Orange, Barboursville, Greene County, Ruckersville. Email Pam Dent.

View all of the Charlottesville Virginia homes for sale.

View my website Charlottesville Horse Farms or visit my other blog Charlottesville Horse Farms and Country Homes for more information on Charlottesville Virginia horse farms, homes, events and real estate.

Albemarle County VA Real Estate Market Report - August 2010

Thu, 02 Sep 2010 23:52:43 -0400

This Albemarle County VA real estate market report focuses on the sale of single family detached homes in Albemarle County during August 2010.

August 2009 average list price $511,929.
August 2010 average list price $412,169.

August 2009 average sale price $476,397.
August 2010 average sale price $396,737.

August 2009 median sold price $356,647.
August 2010 median sold price $332,630.

August 2009 %sold/list 93.05%.
August 2010 %sold/list 96.25%.

From 1/1/2009 - 8/31/2009, 450 homes sold on the Albemarle County real estate market. During the same time period in 2010, 489 Albemarle County homes sold.

It is very apparent that the first time home buyers tax credit strongly encouraged buyers to put homes under contract in the spring, hence the large amount of June closings. As a result many buyers who might have waited until summer to buy, purchased in the spring. Therefore although we see an increase in sales for the year to date over 2009, we see a big slow down in July and August. Normally we experience a strong fall real estate market. Hopefully we will see a pick up in activity this year as well although nationally we seem to be seeing a lack of consumer confidence in the economy as a whole.

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Charlottesville VA Real Estate - New construction

Sun, 29 Aug 2010 20:57:08 -0400

I just helped my clients put a contract on a "to be built" home in Sycamore Square. Here is a picture of the lot sign that these buyers got to put their sold sticker on.

After writing the contract we got to do all of the fun things like deciding on cabinets, counters, and flooring. We ended the day driving around the community looking at siding, shutter and door colors. Then we went back to the model and chose the stone type to use on the front.

One of the best parts of my job is to see how excited this young couple is about their new home. It will be a pleasure to watch their home take shape over the next few months.

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Charlottesville Homes For Sale - 1440 Beacon Hill

Tue, 24 Aug 2010 16:21:22 -0400

Contemporary in Signal Hill

Overview
Maps
Photos
Features

$364,900 Single Family Home
For Sale Main Features 3 Bedrooms
2 Bathrooms
1 Partial Bathroom
Interior: 2753 sqft
Lot: 3.43 acre(s)
Location

1440 Beacon Hill
Afton, VA 22920
USA

To get updates on open home dates and other property events, please click the "Like" button below:

Pam Dent

Better Homes and Gardens Real Estate III
(434) 960-0161
pam@JumpintoGreenerPastures.com
http://www.JumpintoGreenerPastures.com

Listed by: Pam Dent - BHG Real Estate III

Our recent listings

Contemporary in Signal Hill
River Rock Farm
Nature Lovers Paradise
Shangri-La
Quartz Run

Subscribe to our listing feed See more Afton, VA real estate for sale

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What is A Day

Sun, 22 Aug 2010 12:20:21 -0400

For those of you who are involved in the business world when a day is refered to it is a "business day", but in real estate transactions this is often not the case.

In real estate transactions a day can be either a calendar day or a business day. With the many deadlines that are referenced in the contract and subsequent addendums, it is important to note what the exactly is referenced in each step of the process. Especially if you are involved in the purchase of a foreclosure with costly per diem penalties if deadlines are exceeded.

Under the miscellaneous section of the VAR Contract To Purchase it states that unless otherwise noted "days" shall mean calendar days. One confusing place in our forms is the fact that the home inspection addendum talks about calendar days, but the radon addendum has business days for its response deadlines. Since both inspections are usually being performed during the home inspection period, this can be a point of confusion.

Recently I sent some documents to a purchaser and stated in an email that we had 5 days to get a signed response back to the seller. Day 5 was on a Monday. On Sunday which was day 4, I followed up reminding the purchaser that we had to have these documents signed and back to the seller by 5:00 p.m. on Monday. At which point my buyer said "don't we have til Wednesday, since the weekend was in there". Even though I had been telling them what day I needed the paperwork back, they still assumed that they had 5 business days. Needless to say I had the signed papers back right away and the deadline was met.

Day is such a simple word, but in the process of buying or selling a home it can be one of the most important. This is another place in the real estate transaction that a vigilant Realtor can help keep the parties on track and the process moving forward smoothly.

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Charlottesville VA Real Estate Market Report - July 2010

Tue, 17 Aug 2010 22:40:48 -0400

This Charlottesville VA real estate market report will examine the sale of single family detached homesin the city of Charlottesville during July 2010.

July 2009 average list price $311,819.
July 2010 average list price $363,725.

July 2009 average sale price $296,651.
July 2010 average sale price $336,960.

July 2009 median sold price $270,000.
July 2010 median sold price $275,000.

July 2009 %sold/list is 95.13%.
July 2010 %sold/list is 92.64%.

From 1/1/2009 - 7/31/2009, 186 homes sold on the Charlottesville real estate market. During the same period in 2010, 159 Charlottesville homes sold.

As you can see so far this year fewer homes have sold in the city of Charlottesville that sold last year. This is one of the few areas that has not seen an increase in sales. Like the other areas we have seen a drop in sales during July. This was not a surprise with the end of the First Time Homebuyers Tax Credit.

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Albemarle County VA Real Estate Market Report - July 2010

Mon, 16 Aug 2010 22:58:38 -0400

This Albemarle County VA real estate market report focuses on the sales of single family detached homes during July 2010.

July 2009 average list price $542,954.
July 2010 average list price $496,708.

July 2009 average sale price $493,979.
July 2010 average sale price $473,251.

July 2009 median sold price $353,000.
July 2010 median sold price $359,000.

July 2009 % sold/list 90.98%.
July 2010 % sold/list 95.27%.

From 1/1/2009 - 7/31/2009, 376 homes sold on the Albemarle County real estate market. During the same period in 2010, 439 Albemarle County homes sold.

As we can see from the graph June saw the largest number of homes with contracts that closed. This was probably due to homes closing that were eligible for the $8,000 tax credit. July has seen a drop in real estate activity, but that is also a month when many people are on vacation. We would hope to see increased activity in September.

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Lake Monticello Home Sold

Thu, 12 Aug 2010 23:10:28 -0400

As buyers agent I sold this Lake Monticello home to my first time homebuyer client.

Last week we got this transaction closed. My client was a first time homebuyer and she was able to purchase this foreclosed home at Lake Monticello. As agent for the buyer I would like to thank Marcella Johnson at Wells Fargo and Cameron Marsh at Tucker Griffin and Barnes for their help in meeting the deadlines and dealing with all of the issues that are part of purchasing a bank owned property.

When you are purchasing a foreclosure it is important to have a team of lender, closing attorney and Realtor who are experienced in this particular type of transaction.

If you would like a list of foreclosed properties that are available for sale contact me and I would be happy to provide them to you.

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Charlottesville Virginia Is Wine Country

Mon, 19 Jul 2010 22:14:42 -0400

We hear lots about Napa Valley in California but Charlottesville Virginia is wine country.

Virginia actually ranks fifth in the United States in wine production. Virginia wineries stretch across the state. The Charlottesville area is home to at least 21 wineries producing a variety of excellent wines. An excellent choice for a lazy summer day activity is wine tasting at one of the local wineries. A great place to start sampling local vintages is the Monticello Wine Trail.

There are some other Virginia wine trails:

Northern Neck Wine Trail

Bedford Wine Trail

Shenandoah Valley Wine Country Trail

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Lake Monticello Waterfront Home - 3 Pineknoll Circle

Mon, 09 Aug 2010 23:38:20 -0400

Lake Monticello waterfront home for sale - 3 Pineknoll Circle, Palmyra, VA.

3 bedroom, 2.5 bath, 2916 sq ft, 1989, $419,000.00

Charming lakefront custom home located on a cul de sac on one of the prettiest coves at Lake Monticello. This spacious architecturally designed home offers an open floorplan, large rooms, first floor master suite and a screened prorch and large deck to enjoy the water views.

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Charlottesville Horse Farm - River Rock Farm - 12336 James Madison Hwy

Sun, 08 Aug 2010 22:18:54 -0400

Charlottesville area horse farm for sale - River Rock Farm

12236 James Madison Highway, Palmyra, VA.

47.98 acres, 8 stall center aisle barn, 8 pastures, Rivanna River Frontage, 3 br, 2 ba, 1732 sq ft
priced at $745,000

Pam Dent, e-PRO, SRES, NHD | Better Homes & Gardens Real Estate III | (434) 960-0161

12336 James Madison Highway, Palmyra, VA

River rock Farm

3BR/2BA Single Family House

offered at $745,000

Year Built 1998 Sq Footage 1,552 Bedrooms 3 Bathrooms 2 full, 0 partial Floors 2 Parking Unspecified Lot Size 47 acres HOA/Maint $0 per month

DESCRIPTION

This horse farm is a gem with some of the finest land that you could wish for. 8 Fenced fields, 8 stall center aisle barn, miles of trails, pond. Rivanna River frontage for canoeing or swimming in your private swimming hole. Darling cottage style home with hardwood floors, custom cabinets, master suite with vaulted ceilings and large soaking tub.Southern living front porch. This property is a trail riders paradise. With landowners permission you can cross the river and ride all the way to Kents Store. The Deep Run Hunt hunts on the land across the river. The farm is currently a working horse farm with 13 field boarders and a total of 20 horses on the property. Most of the fields have automatic waters. The 8 stall barn with a 24 ft center aisle, plus a round pen and a riding arena provides all the facilities necessary for your equestrian needs. The charming cottage-style home was constructed with an eye toward quality. There are hardwood floors throughout and the cabinetry is custom. The lightfilled master suite has vaulted ceilings, walkin closet and attached bath with an enormous soaking tub. The large great room has lots of windows, a pellet stove with ductwork to carry the heat to the master, and a door to the welcoming front porch overlooking the pond and pastures. There is a large back deck with views of the garden and fruit trees. The home sports "hardiplank" siding and a 40 year architectural shingle roof which is only 10 years old. All of the appliances convey; the washing machine is older and while it works will be sold as is. The large workshop (32x34ft) contains a full bath and has an upstairs which could be finished as an apartment. The property also has 3 historic barns which will be sold as is. In addition the foundation of the original Palmyra jail from the 1700's is on the property.
see additional photos below

PROPERTY FEATURES

- Central A/C - Central heat - High/Vaulted ceiling - Walk-in closet - Hardwood floor - Living room - Dining room - Dishwasher - Refrigerator - Stove/Oven - Microwave - Washer - Dryer - Laundry area - inside - Balcony, Deck, or Patio - Yard

OTHER SPECIAL FEATURES

- Rivanna River frontage - 8 stall stable - 8 fenced fields - hardwood floors - one floor living - custom cabinets - open floorplan

ADDITIONAL PHOTOS

47 acre horse farm

Rivanna River Frontage

8 stall stable

Cottage style home

Large living room

Custom cabinets

Contact info:

Pam Dent, e-PRO, SRES, NHD

Better Homes & Gardens Real Estate III

(434) 960-0161

For sale by agent/broker

Equal Opportunity Housing

Posted: Aug 8, 2010, 5:27pm PDT

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Buying A Charlottesville Home - Don't Schedule The Moving Van For Closing Day

Mon, 02 Aug 2010 22:42:11 -0400

Be prepared for closing delays; don't schedule the moving van for closing day.

There are many last minute glitches that can happen. While most of them don't prevent closing, they can keep closing from happening on time. For that reason it is important to have several days leway before your present lease is up and the moving van arrives. Nothing is worse than to have all of your furniture on the truck and not be able to move into your new home.

One thing that can happen is that by the time all of the closing documents are signed it is too late for the deed to be recorded. That is one reason that we don't like to schedule closings on Fridays, because then it is necessary to wait until Monday to record the deed. Until the deed is recorded the home is not yours.

Often funds do not arrive on time. Sometimes they are being wired from a clients account in another city and they don't arrive the day they are supposed to. Other times the loan money fro mthe lender arrives a day late.

An issue that has to be resolved or negotiated may crop up on the final walkthrough. Many times money can be escrowed to take care of the problem, but an FHA lender may require that the problem be fixed by the seller before closing.

Sometimes title issure can cause the delay. There may be a cloud on the title that takes time to clear. Recently closing was delayed for one of my clients who was purchasing a bank owned property because the sellers side couldn't find the trustees deed.

So if you are closing on a home, be as flexible as you can with your moving day and be prepared for delays. Then if it all happens smoothly and on time you will have a happy surprise.

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Lake Monticello Waterfront Sales

Tue, 27 Jul 2010 22:07:11 -0400

Tonight I have been researching the sales activity of Lake Monticello waterfront homes over the past six months for a client. I thought that some of my readers might be interested in this information as well.

There are currently 20 waterfront homes actively listed on the Lake Monticello real estate market. The prices range from $326,000 to $750,000 and the square footage ranges from 1,232 sq ft to 5,687 sq ft.

There is 1 Lake Monticello waterfront home under contingent contract listed at $510,000.

1 Lake Monticello waterfront home has a contract pending. This home is listed for $455,000.

10 Lake Monticello waterfront homes sold during the last 6 months. The sold prices ranged from $327,500 to $685,000.

There is a large amount of inventory on the market in Lake Monticello and there is a large inventory of waterfront homes as well. Spring and summer are the prime selling seasons for waterfronts. I am concerned that we are not seeing more homes under contingent and pending contracts.

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Speechless Sunday

Sun, 25 Jul 2010 22:50:48 -0400

One of the best things about living the Virginia country life is all of the opportunities to observe nature.

This morning dove picked the flowerbox right outside my kitchen window to raise her family. It was most enjoyable to be able to look out the window and watch the progress of the little family. The interesting thing was how she was almost completely unaware of the nearness of the people on the other side of the glass.

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Another Charlottesville Home Sells

Sun, 25 Jul 2010 22:39:25 -0400

I just sold this lovely Charlottesville home in Key West to my buyer clients.

Key West is located in Albemarle County just to the east of Charlottesville Virginia. The neighborhood has a pool which is the ideal place for the kids to hang out on these hot summer days.

The home has a great yard for the two young children to play in. When I dropped by today I saw that they have already knocked out two walls in the main living area taking this very traditional home and creating an open flowing floor plan. It will be great to see the finished product after they have finished all of the updating.

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