Pam Dent -Charlottesville, Albemarle,VA's Blog

Foreclosure Opportunities in Charlottesville and Albemarle County

Thu, 20 Nov 2008 15:27:49 -0600

With all of the buzz in the media regarding the increase in foreclosures across the country, I get frequent inquiries from clients about foreclosed properties in Central Virginia. While the Charlottesville area has been fortunate to not have the large number of foreclosures that are being experienced in some parts of the country we have started to see an increased number of forclosed homes in our local market over the last six months.

Below are four examples of the foreclosed homes that are actively listed in the mls at this time. We are getting foreclosed homes on the market in a variety of price ranges in Charlottesville.

The sellers of this Deerwood Village home The sellers of this Maxfield Road home are
are represented by Prudential Charlotte represented by Re/Max Action Real Estate.
Ramsey.

The sellers of this Keith Valley Road home The sellers of this Wickham Pond home are
are represented by Prudential Charlotte Ramsey. represented by Real Estate III.

These are a few of the foreclosures on the market in Central Virginia. If buying a foreclosure sounds like an opportunity for you to purchase the home you want at an affordable price, be sure to hire a REALTOR to guide you through the specialized process of buying a foreclosure and help you decide if this would be an option that would work for you.

For facts expaining the foreclosure process read here.

Contact Pam Dent, e-PRO, SRES, NHD, REALTOR®, Real Estate III, Charlottesville, Virginia at 434 960-0161 , pam@JumpintoGreenerPastures.com, to list your property for sale or 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, Troy, Palmyra, Lake Monticello, Louisa County, Louisa, Mineral, Spring Creek, Orange County, Gordonsville, Orange, Barboursville, Greene County, Ruckersville.

To view all of the Charlottesville, Virginia and Central Virginia Homes for Sale click here and click on the mls search button.

Visit my other blog Charlottesville Horse Farms and Country Homes for more information on Charlottesville homes, horse farms, events and real estate.

Whats HOT in Charlottesville?

Wed, 19 Nov 2008 08:35:35 -0600

Ragged Mountain Farm Has The Hottest Views in Charlottesville!

Not only does Ragged Mountain Farm have beautiful homes like this home built by MacMillan Pace and listed by McLain Faulconer but Ragged Mountain Farm offers some of the most amazing views in Albemarle County.

The views in all directions are breathtaking!

Ragged Mountain Farm is conveniently located in Ivy, Virginia close to I64 and minutes from Charlottesville, Virginia.

See for yourself why Ragged Mountain Farm is HOT! HOT! HOT!

To view all of the Charlottesville, Virginia and Central Virginia Homes for Sale click here and click on the mls search button.

Visit my other blog Charlottesville Horse Farms and Country Homes for more information on Charlottesville homes, horse farms, events and real estate.

A Colonial Thanksgiving in Charlottesville

Mon, 17 Nov 2008 17:40:06 -0600

Come home for the holidays to Thomas Jefferson's Charlottesville. This year's Jeffesonian Thanksgiving Festival will take place on Saturday, November 22. The first event of the day will be Governor Jefferson's Parade which goes from 10:00 am to noon. The route starts at the ice park and ends up at the Pavillion downtown. The participants will be in historical dress and include a pipe and drum corp, musket firing, dancing, music and historical characters..

The Holiday City Market will kick off on Saturday as well and will run every Saturday through December 22. The market will be held from 10:00-5:00 on the east end of the downtown mall. Shop for unique gifts, holiday greenery and holiday goodies from local venders.

You can also enjoy horse-drawn carriage rides from 10:00-4:00 on November 22. There is a fee for the rides which leave from 4th street on the Mall.

In the evening James and Dolly Madison's Thanksgiving Dinner held at the Omni Hotel starting at 7:00. You are encouraged to dress in period costume and will be entertained with a historical performance. After dinner dance to period music at the President's Ball in the hotel ballroom. The cost for dinner and the ball is $30.00/person or attend just the ball for $10.00. To reserve a ticket click here.

If you are looking for something to make this year's Charlottesville Thanksgiving special, take part in the Jeffersonian Thanksgiving Festival

To view all of the Charlottesville, Virginia and Central Virginia Homes for Sale click here and click on the mls search button.

Visit my other blog Charlottesville Horse Farms and Country Homes for more information of Charlottesville and Central Virginia homes, farms, events and real estate.

"We Need A Bigger Boat"

Sun, 16 Nov 2008 09:43:21 -0600

This morning as I have been entering listings on my website and writing blog posts as usual the tv has been playing in the background. Mostly I just ignore what is going on but sometimes something catches my ear. This time it was a snippet of dialog from Meet The Press.

Do you remeber the scene in Jaws where they have been chasing the shark and finally come face to face with Jaws. The classic line was "We need a bigger boat". Well we have now come face to face with the economic crisis and right now We Need A Bigger Boat. As we know all too well as all year we have been chasing the economic shark and catching glimpses of it, but now we are face to face with Jaws. As this year has progressed it has gone from being a housing crisis, to a crisis with a couple of lenders, to a mortgage crisis, to a US financial crisis, to what is finally a global economic crisis. To kill this shark we definately need a bigger boat!

Over the past year we have spent a lot of time discussing fairness and trying to figure out who is to blame. Many people have been concerned that we are bailing out the very people who were responsible for creating this mess in the first place. We have discussed whether peoplle who bought more house than they should have qualified for and purchased subprime loans should be responsible for their actions. And we have discussed whether those lenders who made the subprime loans and nodoc loans to obviously unqualified borrowers should be held accountable and allowed to go under.

BUT according to todays discussion on Meet the Press "fairness is not on the table anymore". Some people who deserve it will get bailed out and some people who don't deserve it will get bailed out. Desserving doesn't matter anymore; we just need to look at the big picture and fix the problem...now how to fix it...

To view all of the Charlottesville, Virginia and Central Virginia Homes for Sale click here and click on the mls search button.

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

Central Virginia Land Sales - October and Year to Date

Sat, 15 Nov 2008 19:56:58 -0600

We have looked a lot at sales of Charlottesville homes and home sales in the various Central Virginia counties, but what has been happening with the sales of land. This market report will look at Central Virginia land sales by county, both in the month of October and for the year to date.

First lets look at the sales figures for October 2008.

In October 2008, 4 parcels of land sold in Albemarle County. The average sales price was $144,888, with an average list price of $129,625 and a median of $117,500. The parcels were on the market for an average of 224 days and sold for an average of 89.47% of the list price. There are 758 parcels of land on the Albemarle County real estate market at this time.

2 Fluvanna County parcels of land sold in October 2008. The average sales price was $55,000 and the average list price was $65,950. The homes were on the market for an average of 313 days and sold for 83.40% of the list price. As of today there are 341 active land listings in Fluvanna County.

In Greene County there were no sales of land in October 2008. There are currently 142 land parcels on the market in Greene County.

1 parcel of Louisa County land sold in October 2008. The sales price was $220,000 and the property had been listed at $239,000. It had been on the market for 549 days and sold for 92.05% of the list price. There are 223 properties actively listed at this time.

In October 2008, 2 properties of land sold in Orange County. The average sales price was $58,250 and the average list price was $62,250. The homes were on the market for an average of 131 days and sold for an average of 93.57% of the list price. At the moment there are 116 parcels that are on the market in Orange County.

Let's also look at the sales of land in the Central Virginia for the year to date.

In 2007 from January 1-November 14, 136 pieces of land sold in Albemarle County. Compare that with 48 pieces sold in the same time frame in 2008. This represents a drop of -64.7%

In 2007 from 1/1/2007-11/14/2007, 44 Fluvanna land properties sold compared with 31 land sales in 2008 to date. This is a decline of -29.5%.

In Greene County we see a different story. From January 1, 2007-November 14, 2007, 25 land parcels sold compared with 31 sold in 2008. This is an increase in sales of land of 24.0%.

In Louisa County from 1/1/2007-11/14/2007, 40 parcels of land sold. This can be compared with 16 sales of land in the same time frame in 2008. This is a decline of -60.0%.

Finally let's consider sales of land in Orange County from 1/1/2007-11/14/2008 and we find another bright spot in our report. 24 parcels sold in that time frame compared with 31 land sales in the same period of time in 2008. This is an increase of 29.2%.

As you can see Greene and Orange Counties are two bright spots in this picture. However there is still a lot of inventory for sale in those two areas.

The above figures are from the local mls and while considered accurate are not guaranteed.

To view all of the Charlottesville, Virginia and Central Virginia Homes for Sale click here and click on the mls search button.

Visit my other blog Charlottesville Horse Farms and Country Homes for more information on Charlottesville and Central Virginia homes, horse farms, events and real estate.

Orange County Virginia - October Market Report

Sat, 15 Nov 2008 17:41:27 -0600

Due to a reader's request I am adding Orange County to my local market reports. This report will cover the sales of single family detached homes in Orange County Virginia during October 2008.

In October 2008, 4 Orange County homes had contingent contracts. Their average list price was $298,663 and the median was $182,825 with an average days on market of 245.

6 homes in Orange County had contracts pending. The average list price was $256,283, the median was $182,000 and they were on the market for an average of 326 days.

IN the month of October 5 homes sold in Orange County, Virginia. They sold for an average price of $244,100 and had been listed at an average price of $263,918. The median was $215,000 and the average days on market was 247. The homes sold for an average of 92.49% of the list price.

As of November 14, 2008 there are 138 homes actively listed on the market in Orange County. The average list price is $417,622 and the median is $269,450. The homes have been on the market for an average of 181 days.

For comparison let's look at the figures from September of 2008.

In September of this year 1 home had a contingent contract. The home had been listed for $450,000 and was on the market for 526 days.

2 homes had contracts pending. They were listed for an average price of $309,995 and had been on the market for an average of 305 days.

In September of 2008, 4 Orange County homes sold. The average sales price was $176,500 and the average list price was $179,200. The median was $178,500 and the average days on market was 99. The homes sold for an average of 98.49% of the list price.

Let's also look at the sales figures from October of 2007.

In October 2007, 12 Orange County homes sold for an average sales price of $294,053. The homes had an average list price of $289,170 and a median of $332,250. They were on the market for an average of 100 days and sold for an average of 101.69% of the list price.

Lets also compare the year to date figures for 2007 and 2008. From January 1, 2007-Novemver 14, 2007 105 homes sold in Orange County. During the same period this year only 68 homes went under closed contracts. This is a decline in home sales of -35.2%.

As you can see home sales are way down from last year. Also homes are selling for less. In addition inventory is high and homes are staying on the market for a long time. If you are considering selling your home it means that your home must be the one that buyers will notice. Buyers are looking for a deal and your home must be priced aggressively or buyers will not tour it to see all of the special features that it offers. Once your home is priced properly, make sure that it is in the best condition possible. Your Realtor will be able to give you tips on what you can do to prepare your home for sale. It is also important that you hire an agent who has an internet presence since over 58% of the buyers are starting their home search on the web.

If you are buying, it is the perfect time to find your dream home at a great price. Homes are still good investments if you are planning to live in them for at least five years.

Figures are from the mls and while are deemed correct are not guaranteed.

To view all of the Charlottesville, Virginia and Central Virginia Homes for Sale click here and click on the mls search button.

Visit my wother blog Charlottesville Horse Farms and Country Homes for more information on Charlottesville and Central Virginia homes, horse farms, events and real estate.

Homebuying tips - How Do I Decide How Much To Offer?

Thu, 13 Nov 2008 19:48:16 -0600

You have been househunting and have found the perfect home that you would like to make an offer on. But how do you determine what that initial offer should be?

First, you will hopefully have a Realtor who has been working as your buyer's agent. In addition, by now you should also have a mortgage lender who has preapproved you for a loan. As a result of the preapproval process you will know how much you are able to spend on a home and have decided on a home that you can afford. Remember that you buyer's agent is working for you and that they will hold your financial information in confidentiality.

In addition to how much you can afford, there are other factors that should be taken into consideration before you arrive at an amount to offer. You should look at how long the home has been on the market and how many price reductions there have been within that time. If the home has been on the market for a long time without any price reductions, then perhaps the seller is not in a hurry to sell and will not be very negotiable. Also if the home is vacant, and the sellers have already moved maybe they are now carrying two mortgages.

In addition, you should consider the condition of the home, what the home assessed for, what comparable homes in the same area have sold for recently and what similar homes in the neighborhood are listing for.

Your Realtor will help you determine a price to offer, but it is your decision. Remember the homeowner will probably counter your offer. Consider this as the first step in a dialog that you hope will result in a meeting of the minds.

To view all of the Charlottesville, Virginia and Central Virginia Homes for Sale click here and click on the mls search button.

Visit my other blog Charlottesville Horse Farms and Country Homes for more information on Charlottesville homes, farms, events and real estate.

Do You Want More Value For Less $$$? Consider A Home In Louisa County

Thu, 13 Nov 2008 18:59:53 -0600

When I was touring homes in Louisa County, Virginia today, one of the first thoughts that came to my mind was how much home you can get for the money. Louisa County is located in Central Virginia within commuting distace of both Charlottesville and Richmond. It is an area of rolling hills and rural beauty.

I will share with you a selection of the homes that I toured in varing price ranges.

This starter home on Piedmont Avenue in Mineral is cute, cute, cute. 825 sq ft, with 2 bedrooms and 1 bath. It is available for only $219,900.

This home under construction on Hidden Creek offers affordable, one level living with many upgrades. 3 bedrooms, 2 baths, 1585 sq ft on 3 acres. Hardiplank siding, hardwood floors, whirlpool tub, tile shower and more. Priced at $219,900

If you are looking for more space, consider this home on Grace Johnson Road. 2,223 sq ft , 4 bedrooms and 2 baths, set on 5 acres. This beautiful home has 2 tray ceilings, crown molding and hardwood floors. all for $309,900

These are just a few of the many well priced homes on the market in beautiful Louisa County.

To view all of the Charlottesville, Virginia and Central Virginia Homes for Sale click here and click on the mls search button.

Visit my other blog Charlottesville Horse Farms and Country Homes for more information on Central Virginia homes, farms, events and real estate.

Where Do The Locals Go In Charlottesville? Lunch At Bodos

Tue, 11 Nov 2008 21:02:09 -0600

After a long morning of looking at Charlottesville Virginia homes, it was time to find a kid friendly place for lunch. The perfect choice was Bodos on Emmet Street. At lunch time the restaurant is always packed with a mixture of moms and children, professionals and UVA students. Bodos, which is locally owned has three locations to choose from.

The restaurant specializes in bagels, which they make on premises. You can get almost any kind of sandwhich that you can think of on a bagel, as well as a variety of cream cheeses. The children had sesame bagels with plain cream cheese which was the favorite of miy children growing up. The adults enjoyed avocado on whole wheat, and ham and cheese on an everything bagel. Of course you have to try the caesar salad which just may be the best caesar that you have ever tasted.

With full stomachs and happy childern we were off for a successful afternoon of house hunting.

To view all of the Charlottesville, Virginia and Central Virginia Homes for Sale click here and click on the mls search button.

Visit my other blog Charlottesville Horse Farms and Country Homes..

268 Hidden Creek Road - One Level Living in Louisa

Tue, 11 Nov 2008 05:55:58 -0600

268 Hidden Creek Road, Louisa, Virginia

3 bedroom, 2 bath, 1584 sq. ft., new construction, $219,900.00

This affordable new home on a private 3 acre lot offers one level living in Louisa County convenient to Charlottesville and Richmond, Virginia. You will not believe all of the amenities that you get for the money: hardiplank siding, 30 year architectural shingle roof, hardwood floors with ceramic tile in the baths and carpet in the two additional bedrooms. The master bedroom sports an attached bath with double vanities, whirlpool tub, and a tile shower. The kitchen will have stainless appliances, a breadfast bar and recessed lighting. You will enjoy the privacy of the 3 acre lot with mature hardwoods from the rear deck. And don't forget the convenience of the attached two car garage leading into the mudroom. If you buy now, there is still time to choose your own paint colors.

This home is a must see!

To view all of the Charlottesville, Virginia and Central Virginia Homes for Sale click here and click on the mls search button.

Visit my other blog Charlottesville Horse Farms and Country Homes for more information on Charlottesville and Central Virginia events, homes and real estate.