Charlottesville Home Owners are Joining Virginia Homeowners Alliance http://www.vahomeownersalliance.com/
Background
A 2007 public opinion survey found that homeowners in Virginia were eager to join an organization that could look after and represent their best interests. In response to that need, the Virginia Association of REALTORS® and local associations of REALTORS® around Virginia have started the Virginia Homeowners Alliance.
Our Mission
The Virginia Homeowners Alliance (VHA) is an exciting new service provided by REALTORS® to help homeowners protect their most treasured investment, their home. It’s not an organization with boring meetings and a bunch of bureaucracy. It’s an organization residing on this website to provide homeowners with a free online one-stop-shop for improving the value of your home and keeping up with local government decisions that affect your home, your community and your quality of life.
Why you should join
By joining VHA, you can stay informed of all the latest news relating to real estate taxes, property assessments, new residential and commercial developments, transportation, school construction and a host of other issues affecting your home, family and neighborhood. Through the Alliance Web site, you can easily contact local government bodies including your City Council, Board of Supervisors, School Board, Planning Commission and Housing Authority to name a few. Your free membership will also provide you access to a variety of valuable resources ranging from tips on lawn care to report cards on your local schools. There’s even a “Kids’ Room” where children and parents can access practice SOL tests and learn more about the Commonwealth of Virginia.
Help protect your home by joining the Virginia Homeowners Alliance today!
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Need a Charlottesville Realtor?
Call Alice Nye Fitch
(434) 981-4562
Montague Miller & Company
Wednesday, February 25, 2009
Tuesday, February 24, 2009
How Many of Me - Census Search Results
How Many of Me - Census Search Results
____________________________________
Need a Charlottesville Realtor?
Call Alice Nye Fitch
(434) 981-4562
Montague Miller & Company
____________________________________
Need a Charlottesville Realtor?
Call Alice Nye Fitch
(434) 981-4562
Montague Miller & Company
Price Reduction Not Always A Red Flag
Here's a new perspective as reported by Virginia Association of Realtors:
"Several years ago, a home listed for sale developed a stigma if it didn't sell within a month or two. Today, many sellers have homes listed that have been on the market for six months or longer. In fact, it's so commonplace for it to take a significant time to sell a house that it is no longer a disgrace if a listing doesn't sell right away. It's an irony of the current market that with all the homes offered for sale, many serious buyers can't find a home to buy. There are often certain types of homes, in certain areas, that just aren't on the market. These are usually prime properties in excellent condition that have broad-based appeal. When these listings come on the market, they are usually snapped up quickly, despite the otherwise slow housing market. Many buyers are sitting on the fence at this point, watching the market and waiting for a better time to buy. It's impossible to time the housing market, so you won't know precisely when the market will next correct until that correction has already occurred. A market correction can be verified only through hindsight. Although most buyers feel more comfortable buying in a hot market -- even though it may mean paying more -- there are some buyers who see a slow market as a good buying opportunity. If you are one of these buyers and you're having difficulty finding a home to buy, consider the following options.
HOUSE HUNTING TIP: Get to know the inventory of homes available in your target area. Some of these listings will never work for you, either because they aren't large enough or because they have defects you might not be able to live with, like a lot of stairs to the front door. You can drop these listings from your radar. Contact this Charlottesville Realtor who specializes locally and who will keep you well informed on local market conditions. Ask Alice Nye Fitch to sign you up for a listing alert program that will send you information directly from the multiple listing service when new listings come on the market or when the status of a listing changes.Of particular interest are listings that are back on the market, and ones that have had a price reduction. If a house that's back on the market is one you were interested in, find out why the deal fell apart. In the past, it was commonly assumed that if a transaction failed it was due to inspection-related issues, not financing. Today, we're seeing more transactions fall apart because the buyers were unable to secure financing. A seller who just lost a deal because the buyer couldn't perform could be receptive to a reasonable offer from a better-qualified buyer.Don't assume there's something wrong with the house if it's back on the market, or if it has been unsold and on the market for a long time. In a changing market, it's often difficult to select a list price that will bring about a speedy sale. Keep an open mind about listings that have had price reductions. These could have been mispriced to begin with. If the sellers are motivated, they will reduce the price until it is in line with the market
____________________________________
Looking for a Top Charlottesville Realtor?
Contact Alice Nye Fitch
Alice@AliceNyeFitch.com
(434) 981-4562
Montague Miller & Company
"Several years ago, a home listed for sale developed a stigma if it didn't sell within a month or two. Today, many sellers have homes listed that have been on the market for six months or longer. In fact, it's so commonplace for it to take a significant time to sell a house that it is no longer a disgrace if a listing doesn't sell right away. It's an irony of the current market that with all the homes offered for sale, many serious buyers can't find a home to buy. There are often certain types of homes, in certain areas, that just aren't on the market. These are usually prime properties in excellent condition that have broad-based appeal. When these listings come on the market, they are usually snapped up quickly, despite the otherwise slow housing market. Many buyers are sitting on the fence at this point, watching the market and waiting for a better time to buy. It's impossible to time the housing market, so you won't know precisely when the market will next correct until that correction has already occurred. A market correction can be verified only through hindsight. Although most buyers feel more comfortable buying in a hot market -- even though it may mean paying more -- there are some buyers who see a slow market as a good buying opportunity. If you are one of these buyers and you're having difficulty finding a home to buy, consider the following options.
HOUSE HUNTING TIP: Get to know the inventory of homes available in your target area. Some of these listings will never work for you, either because they aren't large enough or because they have defects you might not be able to live with, like a lot of stairs to the front door. You can drop these listings from your radar. Contact this Charlottesville Realtor who specializes locally and who will keep you well informed on local market conditions. Ask Alice Nye Fitch to sign you up for a listing alert program that will send you information directly from the multiple listing service when new listings come on the market or when the status of a listing changes.Of particular interest are listings that are back on the market, and ones that have had a price reduction. If a house that's back on the market is one you were interested in, find out why the deal fell apart. In the past, it was commonly assumed that if a transaction failed it was due to inspection-related issues, not financing. Today, we're seeing more transactions fall apart because the buyers were unable to secure financing. A seller who just lost a deal because the buyer couldn't perform could be receptive to a reasonable offer from a better-qualified buyer.Don't assume there's something wrong with the house if it's back on the market, or if it has been unsold and on the market for a long time. In a changing market, it's often difficult to select a list price that will bring about a speedy sale. Keep an open mind about listings that have had price reductions. These could have been mispriced to begin with. If the sellers are motivated, they will reduce the price until it is in line with the market
____________________________________
Looking for a Top Charlottesville Realtor?
Contact Alice Nye Fitch
Alice@AliceNyeFitch.com
(434) 981-4562
Montague Miller & Company
National Real Estate Talk Show Just Launched!
The Charlottesville Association of Realtors reminds us of the new radio show just introduced by The National Association of Realtors. Put this in your calendar as a must-listen-to every weekend. This program is a fabulous source of information for potential real estate buyers, sellers and investors. I know Charlottesville Realtors will be paying close attention too. Please keep in mind that just as the weather is not the same in all parts of the country, real estate market conditions vary regionally as well, and there are mini markets within regions.
Google Reader (300): "Estate"
____________________________________
Need a Charlottesville Realtor?
Call Alice Nye Fitch
(434) 981-4562
Montague Miller & Company
Google Reader (300): "Estate"
____________________________________
Need a Charlottesville Realtor?
Call Alice Nye Fitch
(434) 981-4562
Montague Miller & Company
Monday, February 23, 2009
Sales Show Strong Gain, Inventories Drop
News like this is what keeps Charlottesville Realtors thinking positively!
CAAR Blog » Sales Show Strong Gain, Inventories Drop: "As mentioned in CAAR’s Year-End Market Report, there was a small surge in sales in December 08 and it seems that was the national trend as well. Nationally, December existing-home sales rose unexpectedly while inventory declined, led by a surge of sales in the West, NAR says. Sales jumped 6.5 percent to a seasonally adjusted annual rate of 4.74 million units from a downwardly revised pace of 4.45 million units in November. Sales remain 3.5 percent below the 4.91 million-unit pace in December 2007. For all of 2008 there were 4,912,000 existing-home sales, 13.1 percent below the 5,652,000 transactions recorded in 2007. This is the lowest volume since 1997 when there were 4,371,000 sales. Total housing inventory at the end of December fell 11.7 percent to 3.68 million existing homes available for sale, which represents a 9.3-month supply at the current sales pace, down from a 11.2-month supply in November. “The higher monthly sales gain and falling inventory are steps in the right direction, but the market is still far from normal balanced conditions,” says NAR Chief Economist Lawrence Yun. Highlights from Yun’s press conference are on REALTOR® TV."
____________________________________
Need a Charlottesville Realtor?
Call Alice Nye Fitch
(434) 981-4562
Montague Miller & Company
CAAR Blog » Sales Show Strong Gain, Inventories Drop: "As mentioned in CAAR’s Year-End Market Report, there was a small surge in sales in December 08 and it seems that was the national trend as well. Nationally, December existing-home sales rose unexpectedly while inventory declined, led by a surge of sales in the West, NAR says. Sales jumped 6.5 percent to a seasonally adjusted annual rate of 4.74 million units from a downwardly revised pace of 4.45 million units in November. Sales remain 3.5 percent below the 4.91 million-unit pace in December 2007. For all of 2008 there were 4,912,000 existing-home sales, 13.1 percent below the 5,652,000 transactions recorded in 2007. This is the lowest volume since 1997 when there were 4,371,000 sales. Total housing inventory at the end of December fell 11.7 percent to 3.68 million existing homes available for sale, which represents a 9.3-month supply at the current sales pace, down from a 11.2-month supply in November. “The higher monthly sales gain and falling inventory are steps in the right direction, but the market is still far from normal balanced conditions,” says NAR Chief Economist Lawrence Yun. Highlights from Yun’s press conference are on REALTOR® TV."
____________________________________
Need a Charlottesville Realtor?
Call Alice Nye Fitch
(434) 981-4562
Montague Miller & Company
CAAR Blog » Housing Details in the Approved Stimulus Bill
Interesting developments that will impact Charlottesville Realtors ...
CAAR Blog » Housing Details in the Approved Stimulus Bill: "H.R. 1, the “American Recovery and Reinvestment Act of 2009″ (AARA), passed the House on February 13, 2009, by a vote of 246 - 184. On the same day, the Senate passed the bill by a vote of 60 - 39. The President signed the bill on Tuesday, February 17, 2009. The bill is a $780 billion package, with roughly 35% of the package devoted to tax cuts (mostly for 2009) and the rest to spending intended to occur in 2009 and 2010."
____________________________________
Need a Charlottesville Realtor?
Call Alice Nye Fitch
(434) 981-4562
CAAR Blog » Housing Details in the Approved Stimulus Bill: "H.R. 1, the “American Recovery and Reinvestment Act of 2009″ (AARA), passed the House on February 13, 2009, by a vote of 246 - 184. On the same day, the Senate passed the bill by a vote of 60 - 39. The President signed the bill on Tuesday, February 17, 2009. The bill is a $780 billion package, with roughly 35% of the package devoted to tax cuts (mostly for 2009) and the rest to spending intended to occur in 2009 and 2010."
____________________________________
Need a Charlottesville Realtor?
Call Alice Nye Fitch
(434) 981-4562
Homeowner Affordability and Stability Plan
Some details of the recent Homeowner Affordability and Stability Plan. Will be interesting to see the impact both short and long term, particularly for the Charlottesville Real Estate market.
____________________________________
Need a Charlottesville Realtor?
Call Alice Nye Fitch
(434) 981-4562
CAAR Blog » Homeowner Affordability and Stability Plan: "On February 18, 2009, President Obama announced his Homeowner Affordability and Stability Plan designed to help 7 to 9 million families avoid foreclosure by refinancing or modifying their mortgages. The plan also strengthens the federal commitment to Fannie Mae and Freddie Mac (the government sponsored enterprises, or GSEs).
Here are the key elements of the Obama plan:
1. Refinancing by the GSEs of loans that they own or guarantee. The GSEs will work with their loan servicers to develop a streamlined refinancing program for borrowers with loan-to-value ratios (LTVs) above 80 percent but not more than 105 percent who now face difficulty refinancing.
2. A $75 billion Homeowner Stability Initiative–with lender, servicer, investor, and borrower incentives to make it work. The program is limited to loans at or below the GSE conforming loan limits.
3. More support for the GSEs, including doubling of potential Treasury investment from $100 billion to $200 billion for each GSE, to maintain their positive net worth. The plan also raises the cap on mortgages that the GSEs may hold in their portfolios by $50 billion to $900 billion."
____________________________________
Need a Charlottesville Realtor?
Call Alice Nye Fitch
(434) 981-4562
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