How To Find Charlottesville, VA Foreclosed Property

How To Find Charlottesville, VA Foreclosed Property
by real estate expert Fulton Gaylord
Sponsored by: Central VA HUD Homes

Are you interested in purchasing some foreclosed property? Do you know where to even find any property that has been foreclosed on? We will discuss three ways that you can find this type of property.

Technique #1 – Go to the county clerk’s office in Charlottesville.

Any property that is foreclosed on in Charlottesville has to be posted at the county clerk’s office. You can go there and read the listings. If you call that office, they will let you know when it will be posted and how often and when the postings will be updated.

Technique #2 – Read the local newspaper

Usually one or two days a week, the local newspaper in Charlottesville will list these foreclosures in a certain part of the paper. A lot of times these notices are listed at the beginning of the classified ad section or in the public notice section. If you are not sure what day that you will find this information, all you have to do is to give your local newspaper a call and they will let you know.

Technique #3 – Contact me and I’ll put you on an auto-notifying system

Call or e-mail me and let me know what your qualifying parameters are, i.e. price, type of property, location, etc. I’ll enter your search and the instant a property comes that matches your parameters, you’ll get notified by e-mail!! Then, if you have any questions about these listings or want to set up a showing, just call or e-mail me.

Also, you’ll get notified of all my bank owned properties before they get publicly listed!

There is a lot of free information available to you about buying, selling or investing in Charlottesville, VA real estate. For complete information about the Charlottesville, VA real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Charlottesville, VA real estate at Central VA HUD Homes. Please feel free to contact me with any of your real estate or mortgage related questions and I’ll be more than glad to answer your questions. Call me on my office phone at 434-220-2228 or email me at Fulton@kw.com

Forest Lakes, Charlottesville VA-Neighborhood Videos

Whether you currently live in the Charlottesville Virginia area or are relocating to Forest Lakes from afar, there is no better way to get “street level” and really up-front-and-personal with our Forest Lakes neighborhoods than to visit  the Forest Lakes Properties website.

At Forest Lakes Properties you’ll be able to see neighborhood videoes like this:

Not real glitzy, I’ll admit.  But a nice, easy way to see our Forest Lakes neighborhoods from the comfort of your computer.

I’d love your feedback and suggestions!

You can contact me via phone or e-mail:

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
434-220-2228

Fulton@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”

Charlottesville Real Estate-Top 10 Home Buys In Charlottesville-2008

I know, I’m a little behind.  Here it is the middle of October and I haven’t given you my Top 10 Home Buys.  I’m sorry! Thank you for writing to remind me!  I’m on it.

Charlottesville real estate sales, while off from last year, still show activity:

July Closed Sales                 212
August Closed Sales             156
September Closed Sales       118

So without further delay, here are my Top 10 Home Buys for October in and around the city of Charlottesville, and Albemarle County, Virginia.

And remember that my 20% Buyer Rebate Offer is still in effect!

GoTo:  http://www.BuyerRebateOffer.com

1. Shepherds Ridge

Sometimes it IS just about the numbers.  And many of these homes are aggressively priced and offer good value if you just take numbers into account.  Most ALL of them have been on the market way too long and need a new family to help them feel like a home again. I’m sure sellers would gladly negotiate.

Take this house.  Gorgeous.  4 bedrooms, 3.5 baths, 5,339 sq ft, 3 fireplaces!, 8 years old, and in coveted Dunlora! At $675,00 and sellers ready to talk–well, TALK!  And with my Buyer Rebate = $4,050 back to you at closing!

2. North Pantops Dr.

3,870 square feet at a cost of $549,900 after sellers instituted a HUGE price drop.  AND, they just installed hardwood floors and granite counter tops!  5 bedrooms, 4 baths, and a finished basement.  Large screened porch and private decks with incredible views.  Seconds to I-64 and downtown.  Buyer Rebate = $3,299

3. Dellwood Rd.

This home gets included because of the pure value–if you can overlook that it’s a Tudor style colonial.  Trust me, it’s worth a look, pictures are NOT always the best thing to rely on.  My wife knows that because she hated our house by looking at the pictures the Realtor posted–she almost didn’t go see it.  She’s very glad she did.

Here’s a home with 3,100 square feet, 4 bedrooms and 3.5 baths on an acre and a quarter. Bridge over a babbling brook, trees, expansive lawn, $469,900.

10 miles out in the country? Nope, in Northfields, a minute from the Fashion Square Mall!  Believe it. Take a look.  Seller says make an offer. Buyer Rebate = $2,820

4. Old Forge Rd.

Location.  This home is in an established neighborhood close to Barracks Rd shopping and UVA.  Brick style home with 3,092 sq ft @ $416,000.  Do the math.  That’s a low $135/sq ft for 4 bedrooms and 3 baths, hardwood floors, fireplaced living room, and a screened porch.  Buyer Rebate = $2,496

5. Huntington Rd.

3,268 square foot house in Northfields with master suite on 1st floor, 3 more bedrooms and bath upstairs, finished basement with full in-law apartment (or to host huge Football parties!), Italian tile counters and maple cabinets, built in 2002.

Nice big 1 acre yard, and complete with a 2 car garage.  THAT’S why it made the list! Buyer Rebate = $2,670

6. King William Dr.

And it came to pass that he exalted his servants and said unto them “Let there be massive kitchens in which people can entertain their friends and nourish their families” so he built THIS kitchen.  Just look at it.  That’s what it’s all about.  Standing around the kitchen picking at a pizza or sharing homemade ice cream sundaes on a hot summers eve.

Build your own family memories in this wonderful kitchen.  The home is priced at $550,000 with 3,823 square feet, 5 bedrooms, 3.5 baths, 2 car garage, full finished basement, in Dunlora.  WOW!  They had me at the kitchen!  Buyer Rebate = $3,300

7. Bedford Hills, Earlysville

Is that a gorgeous backyard or what?  I could just sit and enjoy the coming spring forever.  And a great value per square foot with 3,792 and a price of $575,000 = $152 per sq ft.

Oh yeah, it’s got a pool!  3 bedrooms, 3 baths, 3 car detached garage, home theater, and a beautiful pool.  You have to take this property in.  WOW!  Buyer Rebate = $3,450

8. Ambrose Way

OMG, 6,100 square feet, 6 bedrooms, 4.5 baths, $699,500 built in 2002 ? “Honey!  Remember you said you wanted a large family?  Well, here’s the house…now let’s get crackin’!”

This list is all about value and MORE value!  Value in finding gorgeous homes with good location, low price per square foot, with the amenities you want, all in good condition.  More value by searching out sellers possibly more willing to talk, and even more value with my 20% Rebate Offer!

Gorgeous home. Great value.

9. Belle Vista Dr.

Because I always wanted to be a Mob Boss, and living in this swank, luxurious mountaintop stronghold, would be a great first step.

115 acres with absolutely gorgeous mountain vistas, in-ground pool with cascading waterfalls, a 7,000 square foot absolute stunner. Seller has drastically dropped the price to $3,850,000 and check this out, with my Buyer Rebate you’d get $23,000 back at closing–enough to buy a LOT of cement galoshes!

Sunken 8 person hot tub in the sunroom with views and a full bar.  “Honey!! Pinch me and put the Sopranos DVD in.”

10. Woodlands Rd.  My wife made me put this one on the list.  But actually we both love this house. 60 rooms, 17,000 square feet, 50 acres, pool, tennis court, reflecting pools, and…

dual staircase.  How cool is that? $9,950,000, close to UVA.  Talk about your show stopping dream home?

Oh come on, it’s got fountains?

“Yes President, right this way into our parlour…”

Oh, you’re curious about the Buyer Rebate?  You purchase this home using my services and receive $59,700 rebate at closing !

For more info, comments, questions, or to schedule a showing for any property listed for sale in Central Virginia, and to sign up to receive your 20% Buyer Rebate, call or e-mail me:

Fulton Gaylord–Assoc. Broker
Keller Williams Realty
434-220-2228 (leave a message)
Fulton@kw.com

http://www.CharlottesvilleHomeSellingTeam.com

THANK YOU !

“Licensed to Sell Real Estate in Virginia”

“Each Office Independently Owned and Operated”

The Ruckersville, VA Master Plan? Ugly Is As Ugly Does!

Ugly is as ugly does. Let’s discuss the commercial corridor of Rte 29 in Ruckersville, Greene County, VA, and its inclusion in Greene County’s Master Plan for sustainable growth.  Because somethin’ ain’t workin’.

Drive south down Rte 29 from Madison, and you come to a lighted intersection with Rte 33 east/west.  You just passed an area on your right leveled to make way for Lowe’s and Wal-Mart. On your left is a broken down old shack that, if it’s July, is joined by a carnival style hawking booth where fireworks are sold to unwitting bargain seekers.  Your eye wanders to two more rundown buildings with huge signs describing rare antique finds and books are to be found inside.  Scanning around more, you see a Burger King, a gas station, and an old music store in a little hovel. You consult your map and it pin points you in the middle of Ruckersville, Greene County, Virginia.  And you realize, Ruckersville is ugly.

Ruckersville is Capitalism at its worst.  No regard for community planning.  No greenery or any thought for aesthetics.  Nope, build the cheapest, the fastest, and capitalize on the location right on 29. Ruckersville needs the taxes generated by its commercial base to support a small population.  It delights in allowing a Lowe’s and a Super Wal-Mart to come in and level the area so that we can enjoy convenience at bargain prices. Ugly is as ugly does.

Now the road expansion of Rte 33 up to the mountains and Skyline Drive was done very nicely.  Greene County got THAT right. Of course it’s become a huge source of easy funds for the local coffers as the county and state have seen fit to police this section of road with at least 6 unmarked vehicles of various sizes and colors as well as a slew of state and local troopers.  Wow!  That’s tax dollars hard at work.  Do you think we could possibly cut back on over-policing this high crime corridor and perhaps put some of that money into subsidizing an after school program for kids whose parent perhaps can’t afford it?

How about requiring a higher level of site aesthetics for all new construction here on out, and any sites that either change hands, rebuild, tear down, or improve current buildings–require them all to invest X amount of dollars towards bringing property up to a pre-set, planned expectation, in exchange for a tax credit.

Greene County officials reassure us that they DO have a plan. They could pull out a multi-page line by line plan and show us what tax revenue is generated, what it’s earmarked for, and their vision for the town going forward. But you know what? I can SEE the visible signs of their plan right before my very eyes, and I’m telling you, it’s ugly! The plan needs to be redone.

So, I think Ruckersville (Greene County) should take one year to develop a new Commercial Corridor Master Plan.  This plan would ensure that:

1. sustainable growth could continue well into the future, guaranteeing tax revenue to support a burgeoning community.

2. increase unique visitor stops by tourists as well as repeat visits from locals, thereby increasing business profits.

3. resources are appropriate for the needs of the community and being able to adjust accordingly (e.g. too many costly police monitoring a scenic by-way–is that the best use of our tax income?).

4. This plan would increase community pride—because we WANT to be proud of where we live.

5. empower citizens to dictate terms when negotiating with the Wal-Marts of the world, not the other way around, because their community now becomes the community of choice for businesses. Citizens don’t become slaves and answer to businesses beck and call just because the need for tax revenue to pay teachers, firefighters, and police is so desperate.

6. A plan like this would protect better against wild fluctuations in market values both for commercial AND residential interests

7. slow depreciation and erosion of values by requiring uniform property maintenance and construction standards that are clearly explained in the Master Plan.

8. build businesses with longevity and staying power. Bring in and support businesses that buy into the community’s vision for sustained development and health.

9. a master plan is equivalent to a business plan, and a community that has a plan that is fluid, all-encompassing, and pro-active has a better chance to attract matching state and federal funds as well as high bond ratings in order to raise capital.

–WE DON’T HAVE TO LIVE IN A DISPOSABLE SOCIETY—

We want our businesses to be community partners.  We don’t want them to be of the mind “here today, gone tomorrow”.

Communities too often sell their souls to the Devil just to turn a buck and get much needed tax revenue.  Too often towns and cities turn a blind eye to development regulation and zoning, and, as a result, poison our air and water and bulldoze any possibility for esthetically pleasing construction under the ground.

You see it all across America.  But you also see communities learning from their mistakes, you see communities able to change as the world changes.

So, is it too late for Ruckersville?

Green County doesn’t have the money to go develop a complicated new Master Plan.

And of course you have some who question whether one building is any uglier than the next? They don’t think the intersection area is that ugly.

And besides, many people would question how we can tell a business owner that he’s got to take from his profits to go gussy up his lot just so that he can fit in with some socialist Master Plan.  If a building IS ugly, it won’t attract any one, and it’ll go out of business soon enough–survival of the prettiest, right?

“We are what we are in Ruckersville”, they say. “ We’re at an intersection off Rte 29 in Greene County.  The American dream is all about taking opportunity and running with it.  Too bad for your weak business sense that has to have some government agency always come and make things right and equal for you, the less fortunate-BAH!”

“Keep it down there in Charlottesville with all them crunchy artsy-fartsy liberal wanna-bees.  We need to grow. We DON’T need someone who doesn’t understand business to tell us how to run ours!”

“And if you try, we’ll just go somewhere else.”

O.K. Alright. I understand. We all need to turn a buck. But hear this:

I had a commercial broker tell me the other day that if it gets too bad–or rather, WHEN it gets too built up and gross around here, he’ll just move.  He did it when it got bad down in Atlanta.  And before that, when he was in Jersey, too.

But this is my home.  I don’t WANT to pull up stakes and move.  I don’t want to live in a disposable community.

Can Capitalism and development go hand-in-hand with preservation of the heart and health of our community?

The one constant is the influx of more and more people into our area. More population pressure means eventually, limited space and resources, which causes a town’s infrastructure to suffer, which ultimately degrades our community.

That’s why planning is vital to the long term health of a community.

Planning means:

<!–[if !supportLists]–>· <!–[endif]–>We must first identify citizen’s needs,

<!–[if !supportLists]–>· <!–[endif]–>we qualify and quantify these needs, prioritizing them by popular vote,

<!–[if !supportLists]–>· <!–[endif]–>we raise tax revenue to pay for these needs,

<!–[if !supportLists]–>· <!–[endif]–>we solicit other possible funding sources—i.e. bonds, state and federal assistance,

<!–[if !supportLists]–>· <!–[endif]–>our master vision for the community stretches far into the future, and protects our future generations,

<!–[if !supportLists]–>· <!–[endif]–>and, we must also look to repair what is by developing a retro-active quality standard to help us bring a larger measure of beautification to the intersection of 29 and 33, now.

The intersection of Rte 33 and Rte 29 is horrifically ugly. But you know, we CAN do something about it. And the first thing we can do is develop a Commercial Corridor Master Plan with input from our citizens and broadcast its winning vision across the region. If we don’t?  Then ugly is as ugly does.

 

 

Top 10 Best Home Buys In Charlottesville–July, 2008

As a Realtor I am privy to a lot of proprietary information re: the condition of homes, seller circumstances that can affect value, along with visual inspections of homes I show to clients and customers.  As a result every month I compile and present my Top 10 Best Home Buys In Charlottesville.  Here then is my Top 10 list for the month of July.

Feel free to call or e-mail if you need further information on any of these listings or to schedule a showing.

Fulton Gaylord–Associate Brker
Keller Williams Realty
434-964-7474
Fulton@kw.com

http://www.CharlottesvilleHomeSellingTeam.com

1.)  Priced at $289,900, or $126 per sq ft, this home is a great buy.  It is convenient to everything being right off Rte 29 and near Rio Rd west.  Open Floor plan and chef’s kitchen overlooking deck & full fenced backyard. Hardwood & ceramic tile flrs, large master (2 BRs combined) plus 2nd BR & 2 full tiled BAs on main level, finished lower level is perfect as rec/game/media room AND has grandfathered 3rd BR. Lots of storage inside & out. Lisitnd advertises that purchasers will receive an 8 day 7 night Hawaiian Lodging accommodation upon closing!  Can I come too as your chaperone?

2.)  500 Frays Mountain Rd in Earlysvile also comes in @ $289,900 = to only $114 sq ft!   All brick home situated on a lush, elevated, but level, 2 acre lot. Hardwood floors throughout first level. Spacious family room with wet bar and brick hearth fireplace, great for the family and entertaining. Large rear deck and stone patio area. Very private rear back yard – great for kids or pets. 400 and a 200 sq. ft. storage buildings.  Paved drive. Lots of parking. All very well maintained. Priced for quick sale – owner relocating.

3.)  4327 Chris Greene Lake Rd.  $299,999 with a price per sq ft of only $111  Near the entrance to the lovely Chris Greene Lake park, this cute 4 bedroom, 3 bath ranch has an updated kitchen, formal living room w/ woodstove, huge master bedroom suite w/ gas log fireplace, family room w/ stone fireplace, rec. room, workshop, like new hardwood floors, & ceramic tile bathrooms. Possible 5th BR in basement. Over 600 sqft of wrap-around deck overlooking the above ground pool. Complete with home security system.

4.)  2405 Barracks Rd @ $315,000 is a 2990 sq ft home with 6 bedrooms and 3 baths.  It is smack-dab in the middle of all the action.  1/2 mile to the main UVA campus, JPJ arena, Barracks Road shopping, Darden, and the School of Law.  City ameneties with county taxes! Almost 1/2 acre of land at at $105 per sq foot makes this a good deal.

5.)  2445 Redbud Lane.  Coming in @ $425,00 and 3724 sq ft, 4 bedrooms and 3 1/2 baths, this contemporary style home has one of the lowest per sq footage price of $114 ! Custom-built, impeccably-maintained, light-filled, and spacious this home is just minutes from C-ville. Open, flowing family/dining/kitchen area. Vaulted sunroom overlooks private backyard. Master bedroom has cathedral ceiling and large palladium window. Hardwood and ceramic tile floors through-out first level, lovely fireplaces (slate and stone.) Spacious shed. $3000 carpet allowance for basement (w/ acceptable offer.) NEW roof, NEW heatpumps, NEW water heater.

6.)  1072 Ramblewood Pl. $375,000, $113/sq foot !  Priced well below its tax assessment, sellers welcome lease/purchase with a qualified buyer. This choice 4 bd colonial in close-in, desirable Raintree has a host of recent renovations and improvements, including new front porch, hardiplank siding, tilt windows, roof, skylights, Trex deck, heat pump and 3rd bath in finished terrace level. Other highlights are the 1st floor study, vaulted ceilings in family room and master bedroom, wood floors and an elevated, private site with mature trees.

7.)  3027 Colonial Dr. 3760 sq ft for only $410,00 brings the cost per sq ft to only $109.  Solid built Builder’s Home has 5 possble. bedrooms and 4 full baths. Beautiful hardwood floors in the Living room, diningroom, in the Master bedroom and the other three bedrooms. Brick fireplace including fireplace insert in family room is off the huge eat-in kitchen. Kitchen has really nice oak  cabinets and a bay window. A 5th bedroom or other room with full bath is off the kitchen and away from from the other bedrooms. Screened in back porch off the kitchen and familyroom.

8.)  3503 Monacon Dr.  Location, location, location!  House features very large rooms,hardwood floors,built-in shelving,formal living & dining rooms, family room on main level could be additional bedroom, full bath on main level, large eat-in kitchen, rec room, sunroom overlooking private backyard with in-ground pool, large spacious bedrooms upstairs with hardwood floors, 2 zone heat pump recently replaced, roof replaced 8 years ago, house has been very well maintained. Seller offering one year Homebuyers Warranty.

9.)  320 Shepherds Ridge Circle. According to the listing Realtor, this is the BEST value in Dunlora!  5339 sq ft for $700,000 giving it a sq footage cost of only $131 ! Location, condition, price – the perfect combination! Private, yet close to everything!  The spacious two room first floor owner’s retreat opens to the private spa and deck. Lovely sunroom, spacious terrace level, lawn irrigation system, & lovely flowering trees. This “executive home” features exterior lawn maintance provided by the HOA. Immaculate condition inside & out.

10.)  Lake Monticello. Sitting alongside the 15th hole & 16th Tee lies this wonderful home, Bring your Golf bag. 5 Bedroom, 3 bath, large oversized rear deck, Great room w/ Frpl, wood flooring on main level, kitchen & ALL baths have tile, basemnt has carpet, huge kit w/ breakfast nook, master off kitchen, mud room off kitchen, full length deck overlooking backyard (and Golf Course!), oversized 2 Car garage w/ shelving, 2 Zone HVAC, ALL Appliances Convey, basement rec room, 2 storage rooms in basement, storage space galore!

Charlottesville, Virginia Mid-Year Market Report (From CAAR)

I decided not to paraphrase or try and take any credit for this whatsoever.  Dave Phillips, CEO of our local Charlottesville Area Association of Realtors, does a great job presenting this valuable information (and I’m NOT just saying that, Dave.  You do so much for not only our Board of Realtors, but also helping run our Forest Lakes Swim Team–GO HURRICANES!!–as well as organizing a spectacular! F-I-R-E-W-O-R-K-S display this year at McIntyre Park–Thank You!)
Here, then, is his mid-year graphical and statistical breakdown of the Charlottesville and Albemarle County real estate market.2008 Mid-Year CAAR Market Report

Real Estate Market is as Hot as ANWR

 

By Dave Phillips, CEO

Charlottesville Area Association of REALTORS®

 

Just about everything in life is relative to your perspective. Based on that theory, you could say the real estate market in the Charlottesville area is as hot as ANWR (the Alaskan National Wildlife Reserve). If you are not familiar with ANWR, you only need to know that it is a great example of being “relative” to one’s perspective. Depending on which pundit you ask, ANWR is either the last bastion of American wilderness, or the key to returning to $2.00 per gallon gasoline. The high temperature in ANWR in early July 2008 is in the mid 40’s. Using ANWR as a reference point, the local real estate market is hot.

 

Overview

The real estate market in the Charlottesville area continues to chug along at a moderate pace. If you look at it relative to the hot markets in recent years, you might say “sluggish” is a better word. From a historic perspective, the number of people buying a home in the area is at a fairly normal level, but missing from this market are the speculative investors that overheated the market a few years ago. These investors were buying and selling the same property in the same year and driving up statistics and prices. Today, the market seems to have stabilized, with median prices flat compared to the past two years and the pace of sales steady over the past two quarters. Even the inventory of properties for sale has eased a little, but the over-supply of houses on the market continues to be a major concern.

 

Homes Sold

There were 1452 homes sold between January and June of 2008, which was down 551 (-27.5%) from the first half of 2007. That is the same percentage behind 2007 that we saw in the first quarter report. All local areas (Albemarle -39.4%, Charlottesville -12%, Fluvanna -24.3%, Greene -25.2%, Louisa -15.8%, and Nelson -21.9%) posted lower sales than the same period last year. This is the lowest number of sales reported in the MLS for the first quarter since 2001, but to help keep that in perspective you need to remember that 2001 was a record year for sales.

 

New to the CAAR Market Report this year are numbers from the other side of Afton Mountain.  The Staunton/Waynesboro real estate market, referred to as the Central Valley in the charts below, now overlaps with the Charlottesville area market to such an extent that we need to report separate numbers for that area. These numbers were generated from the Greater Augusta MLS, which has more complete data on the Valley market than the CAAR MLS. Based on the total number of sales, the Valley is the largest market area in the report. Sales were down in the Valley by 16.5% compared to last year.

 

 

 

2008 Mid-Year Home Sales
County	2002	2003	2004	2005	2006	2007	2008
Albemarle	685	716	804	1007	843	781	473
Charlottesville	195	203	277	276	450	326	287
Fluvanna	290	235	333	315	270	226	171
Greene	136	123	146	146	168	115	86
Louisa	67	63	86	123	118	101	85
Nelson	142	166	160	184	125	96	75
*Area Total	1627	1624	1942	2311	2271	2003	1452
**Central Valley						643	537

*includes sales outside the counties listed

**numbers courtesy of the Greater Augusta MLS

 

 

 

 

Median Sales Price

The local market seems to have found the equilibrium for the price of properties that sell. The median price of homes that have sold through the first half of the year has remained steady for the past three years (see chart below). You should not compare a change (or lack of change) in the median price of homes that sold with an actual increase or decrease in home prices. The median prices listed below are the middle of the market of properties that sold. Simply put, this is an indication of what buyers were willing to pay and is not a true reflection of individual home prices. It is probably safe to assume that a steady, year-to-year increase in the median price is a good sign, but it does not necessarily mean prices are up and vice versa if the median price decreases.

 

The only way to know what your home will sell for is to have a REALTOR^® or appraiser prepare a comparative market analysis (CMA) for your property. This market is changing very quickly and to be up-to-date, you need to do a CMA every two weeks. Pricing a property correctly is the best way to sell it!

 

Overall, the median price declined $5,841 (-2.1%).  Some areas were up and some were down, but the only double digit change was in Greene: Albemarle (+3.6%), Charlottesville (-4.7%), Fluvanna (-1.2%), Greene (-14.6%), Louisa (-.2%), and Nelson (+2.2%), and the Valley (-6.4%).  

 

2008 Mid-Year Median Prices
County	2002	2003	2004	2005	2006	2007	2008
Albemarle	$219,500	$241,196	$265,000	$264,900	$325,000	$309,000	$320,200
Charlottesville	$142,800	$172,000	$205,000	$240,500	$238,450	$278,000	$265,000
Fluvanna	$135,000	$155,000	$170,600	$220,000	$241,852	$253,000	$250,000
Greene	$135,500	$156,900	$169,950	$217,250	$272,815	$289,900	$247,450
Louisa	$137,000	$144,300	$164,500	$196,926	$249,900	$249,620	$249,000
Nelson	$154,000	$154,250	$234,500	$270,750	$305,000	$293,500	$300,000
Area Median	$166,900	$186,750	$218,950	$240,000	$271,790	$274,000	$268,159
Central Valley						$217,302	$203,409

*includes sales outside the counties listed

**numbers courtesy of the Greater Augusta MLS (note: these are average prices, not median)

 

 Inventory of Homes for Sale

The best news in this report is that the inventory of homes for sale in the Charlottesville area has declined slightly. There are still too many homes on the market right now, but at least this is a positive sign that the local market may be headed in the right direction. As stated earlier, the excess inventory of homes on the market is the most significant challenge we face. 

 

Currently, we have 3,761 homes on the market, just a few more than we had at this time last year (see chart below) and considerably less than the 4050 on the market at the end of May 2008. The median price of these homes for sale is $309,900. The average DOM (days on market) of these homes is 151 days. It is a great time for first-time buyers, because there are 744 homes for sale under $200,000 with an average DOM of 134. There are only 256 homes currently on the market priced at a million dollars or more, which is significantly down from the 576 on the market at the end of the first quarter. Since only 16 of these high-dollar homes sold during the second quarter, we can only assume that many sellers decided not to sell after all. The million dollar plus homes have an average DOM of 216.

 

Days on Market (DOM)

DOM for homes that have sold is perhaps the best indicator of the true market condition. In a balanced market, the DOM should be around 90 days. In 2005, the market was a super-heated sellers’ market due to low inventory, and DOM dropped to 43 (see chart below). That was an unhealthy market (although a lot of sellers enjoyed the ride). The 2008 market has a glut of inventory, so the 123 DOM is not a surprise. We continue to be in a fairly strong buyer’s market, so sellers will need to price their properties aggressively to beat the average DOM.

 

 

Mid-Year Average Days on Market (DOM)
County	2002	2003	2004	2005	2006	2007	2008
Albemarle	76	72	79	55	59	91	115
Charlottesville	46	44	66	59	55	69	120
Fluvanna	78	70	70	64	69	86	129
Greene	75	78	90	54	85	95	100
Louisa	94	117	96	98	85	137	124
Nelson	130	98	118	72	82	113	167
*Area Average	80	76	83	64	69	92	123
**Central Valley						130	143

 

*includes sales outside the counties listed

**numbers courtesy of the Greater Augusta MLS

 

 

New Construction

It is important to note that many “new” homes are not included in CAAR MLS statistics. It is very common for a buyer to contact a builder directly to custom build a home. With that said, the historical perspective of the pace of new home sales gives us a reasonably good picture of the market for new construction. New home sales have declined sharply in the past 24 months. 

 

 

Price Per Square Foot (Finished)

Looking at the average price per square foot of finished space in homes that have sold is interesting, but should not be relied on as a scientific number. The averages in this section of the report include the cost of the land, which varies greatly based on location and amenities. A lot at Wintergreen with fantastic views of the Valley costs much more than a lot in other parts of Nelson. With that said, the numbers in this section reflect a general sense of the cost of housing in the areas listed. The new Central Valley area is the lowest price per square foot section of the market. Not surprisingly, Fluvanna, Greene and Louisa are less costly than Charlottesville and Albemarle. Nelson is heavily influenced by Wintergreen building prices and lot costs.

 

 

Mid-Year Price Per Sq. Foot
County	2002	2003	2004	2005	2006	2007	2008
Albemarle	117	127	142	158	176	175	170
Charlottesville	108	126	144	169	205	189	189
Fluvanna	87	97	103	125	143	141	134
Greene	94	101	114	135	155	155	147
Louisa	94	101	109	122	149	147	145
Nelson	114	133	160	192	215	210	193
Area Average	107	119	132	152	173	167	161
Central Valley						130	146

*includes sales outside the counties listed

**based on CAAR MLS data

 

 

Condos and Townhomes

The sale of attached homes is only reported in Charlottesville and Albemarle because very few properties in this category are located in other counties except Nelson. Since the condos in Nelson are primarily in the Wintergreen Resort market, we have decided not to include them in this report. Charlottesville condo sales are still reasonably strong, but Albemarle sales plummeted 53% compared to the first six months of 2007. The chart below shows the attached homes sold in 2008 compared to past years. Inventory levels of attached homes for sale are still high, with 661 listed for sale in Charlottesville and Albemarle. This over-supply is presented in the 159 average DOM for the attached properties currently on the market. The median price of an attached home is $245,500.

 

 

Conclusions and Predictions

The overall condition of the real estate market in the Charlottesville area has not changed much since the first quarter report. That is good news and hopefully indicates a stabilization of the market. As we concluded in the 1^st Quarter Market Report, it is a GREAT time to be a buyer. If you are looking to move or invest and plan to hold the property at least 3 to 5 years, this market offers an extraordinary opportunity if you purchase a property that is priced correctly. Sellers seem to finally be seeing this market from the proper perspective. In this type of market, they need to offer a better combination of location, amenities, and pricing than the 500 other sellers in the same price range with whom they are competing for buyers.

 

Looking ahead, we expect to see similar market conditions for the balance of the year. The key to improvement in the market is a reduction in inventory. The Charlottesville Area Association of REALTORS^® now has live statistics posted on the web at CAAR.com. Watch the inventory of homes on the market and hope that it continues to shrink to a stable level – around 2000 to 2500.  That is where we need to be to have a balanced market where buyers and sellers are on even terms. With any luck, future market reports will be able to look at the Charlottesville real estate market relative to global warming instead of ANWR.

 

For more information on this report or the real estate market, visit www.caar.com or contact Dave Phillips, CEO of the Charlottesville Area Association of REALTORS^®, at (434) 817-2393, or 981-8088, or Dave@caar.com.

 

Top 10 Luxury Home Buys in Charlottesville, Virginia

Is NOW really a good time to buy a luxury home, estate, or farm?

I’m here to tell you yes, this is the right time to buy a luxury home, estate, or farm.  Prices have corrected, sellers are motivated, and interest rates are low.  And of course, with my 20% Buyer Rebate Offer, your savings would be even more substantial. (GoTo: http://www.BuyerRebateOffer.com)

Here are my

Top 10 Luxury Home buys in Albemarle County, central Virginia:

1.  3347 Woodcreek Dr.  This house is really a good deal, not just because its price per square foot is the lowest on this top 10 list, but because of its full range of ameneties: main house boasts 5 bedrooms, 5 baths, long driveway off a quiet cul-de-sac, fenced yard with a heated in-ground pool, and a beautifully appointed guest cottage with recent renovations, all on almost 5 acres backing up to permanently protected conservation land.

2.  3708 Breyerton Ln., Earlysville.  Impeccable condition, beautiful custom interior finishes and an open flowing floorplan describe this large 5+ bedroom, 4 bath home with full finished basement, 2 car garage, 16×14 storage building and finished bonus room on 2+ acres in Earlysville w/pond & mountain views. Add’l features include: built-in flat screen tv, custom millwork & bar w/ heart pine top, antique bronze knobs, tankless water heater, dual fuel system, cherry cabinetry & granite tops.

Homes priced between $1,045,000 and $1,250,000 with an average price/sq ft of $304, these homes stand out:

3.  6518 Woodborne Ln., Crozet.  Beautifully appointed home in Old Trail’s Upper Ballard neighborhood. Top of the line finishes throughout – cherry floors, 10 foot ceilings, 8 foot doors, gourmet kitchen, fabulous master suite, and finished basement with wet bar and theatre room. Wonderful, open floor plan – kitchen opens to sunroom, breakfast nook, and a spacious family room. Elevated back deck with mountain vistas. Must-see master suite features sitting area and spacious master bath. Close to Town Center and golf.

4.  2008 Farringdon Rd., Keswick.  Glenmore, transitional home. 5BR/5 1/2 BA; Cul-de-sac, this property boasts the privacy of over an acre. Classic elegance, a formal sweeping staircase makes a statement from the foyer. Formal dining room and living room provide elegant entertaining space; the gourmet kitchen, w granite counters and stainless steel appliances, is open to the breakfast room, screened porch, and great room all offering exceptional casual living; rear staircase off the kitchen provides easy access to the 2nd level

Homes priced between $1,500,000 and $9,200,000 with an average price/sq ft of $1216, these homes stand out:

5.  Frays Mountain Rd.  Pre-Sale, new construction at Fray’s Grant by Winn Homes: 8000 sq ft @ $1,500,000, classic farmhouse-style home on 2.4 rolling acres w/pastoral views and wooded views. 1st fl br, 4 fp, 3 car garage, stunning master suite, wraparound porch from which to enjoy the countryside, hardiplank, granite, cherry cabinets, gas heat, formal & rear stairs. Winn can build this home or others, on this lot or others at Fray’s Grant, an exceptional rural neighborhd 15-20 mins to C-ville, 10 minutes to groceries, movies, Starbucks, and restaurants.

6.  1382 Garth Rd. $3,499,000 One of Albemarle’s finest properties. Custom built on 9.42 acres, over 7200 well finished sq ft plus an additional 1100 sq ft of storage w/ 6 BR. Entry into the stunning double trayed ceiling foyer only hints at quality throughout. 1st flr Master br w/ trayed 12′ ceiling, built-in entertainment center, huge walk in w/ built-in dressers, gourmet kitchen w/6 burner Viking gas range and custom cabinets (pull outs) and Butler Pantry, formal dining/living rooms, sun room, pool, fountain, landscaping, 3 car garage & more.

7.  2250Buck Mountain Rd., Free Union.  With a price per square foot half of its competition, this exceptional 17,000 sq. ft. Italian villa near Free Union, on a magnificent 95+ acre site, stands tall.  Within 8 miles of Charlottesville and offering dramatic panoramic views of the Blue Ridge Mountains, other mountain ranges and the Virginia countryside, this villa offers authentic details & materials, combining genuine Italian craftmanship with state-of-the-art technology. Formal gardens, traditional limonaia, 14 ac. vinyeyard with four grape varieties, farm buildings, pond,and  rolling country pastures.

8.  741 Woodlands Rd. Close to town and only 9 min to airport. Dramatic entry leads to 60 room brick manor home, Palladian in style, with exceptional finishes throughout. Pool, deck, formal gardens, Pavilion, tennis court, covered bridge, brick walkways, orchard, several ponds, all on 50+ acres and minutes to downtown C’ville..

9.  112 5th St.  Ultra premium condominium on the Downtown Mall offers secure lobby, secure garage parking, and highest quality finishes: gleaming hardwood, granite counters, cherry cabinets, Travertine marble bathrooms, soaring ceilings (10 ft), generous balcony, huge closets, a 2nd, service entrance. Completed in 2006, The Holsinger defines luxurious Downtown Charlottesville living. This unit enjoys excellent views of Brown’s, Monticello Mtns and cityscapes too. Walk to EVERYTHING this vibrant Downtown offers.

10.  538 Mt Pleasant Farm Rd., Scottsville.  Magnificent plantation with 2 historic homes and over 3,000 acres. Spectacular land offering panoramic mountain and pastoral views. This huge land holding has approximately 175 division rights making it an ideal investment property!

That’s my Top 10 List of Luxury Home Buys in Charlottesville and Albemarle county, central Virginia. 

On the LOWEST priced property listed here, I offer a $3600 cash back at closing Buyer Rebate.  On the most expensive it could be as high as $210,000.  What other Realtor offers this?  And this rebate is available on ANY property you buy using my Buyer Agent services.

GoTo:  http://www.BuyerRebateOffer.com for details OR

Call me directly:  434-964-7474

Fulton Gaylord–Assoc. Broker
Keller Williams Realty
Fulton@kw.com

Voted Best-of-the-best Charlottesville web site:

http://www.CharlottesvilleHomeSellingTeam.com

 

Top 10 Charlottesville VA Homes for first time home buyers

Local Realtor Shares His

Top 10 Best Buys!

Here are my monthly picks for best buys in Albemarle county and Charlottesville.  And of course, they ALL get a little better when you consider my 20% Buyer Rebate Offer—–> http://www.BuyerRebateOffer.com

1.  3061 Amberfield Trail in Forest Lakes.  3 bedroom 2.5 baths, walking distance to Hollymead elementary and the North pool. The lowest $/sq ft in the entire sub-division–$412000 and 3624 sq ft PLUS 800 finished in basement! A 2 car garage along with a huge deck overlooking a nice backyard all on a cul-de-sac.  Wow!

2.  3225 Malbon Dr. Forest Lakes.  The first time I showed this property my socks went up and down, I was so excited.  Huge home for the money, 2nd in cost per sq ft @ $148.07 with a price of $414900 and 2802 sq ft with an additional 1038 partially finished in basement, which is complete with a 2 car garage and workshop.  But I really, really loved the wrap around deck overlooking the lake!  Gorgeous.  It’s on a cul-de-sac and readily accessible to everything!  Top it off that the sellers recently dropped their price pretty drastically–I’ll take it!

3. Another beauty located on a quiet cul-de-sac is 2013 Locke Ln in Forest Lakes North.  It comes in third in our sq footage calculations @ $149.46, well below the Forest Lakes average currently at $188/sq ft.  Perfect for families with little ones and/or dogs ’cause of the protected fenced backyard.  And you could watch them play while lounging with your summer ade on your gorgeous deck.  There’s a finished basement padded with wall-to-wall for warmth and comfort.  This house seems made for kids.  There’s even a mural painted on one of the childrens rooms.

4.  Another steal in Forest Lakes is 3117 Edgewater Dr.  Located on a gorgeous cul-de-sac with views over the lake with the same name, this 5300 sq ft beauty has 5 bedrooms and 4 1/2 baths and pound for pound offers a great deal @ $154.19/sq ft!

And I’d be re-miss in my duties not to mention that I think Lake Monticello is looking pretty darn good right now–200 properties on the market, many vacant, many listing WAY under assessment, sellers willing to talk–so here are 4 of the best, in my opinion, ready for your family:

5.  635 Jefferson Dr. 2056 sq ft, 3 brs, 2 baths. At $185000 you can’t expect the Taj Mahal, but it looks like a solid house, it’s big enough for a family, and it comes with all the amenities of a small resort.  Not bad.

6.  Number 6 on this months list is also in Lake Monticello @ 5 Stonefield Rd. Completely redone over the years and boasting a low price per sq ft.  3 brs, 2 baths, $189000 and 1713 sq ft.  Close to the main gate and main beach!

7.  166 Jefferson Dr. An unbelievable Golf Course Cottage Home. Newly renovated, new paint, carpet, ceilings, refrigerator, stove/oven and dishwasher. Dressing room with shower, vanity & cabinets are attached to the master bedroom, with light filled windows. Kitchen has plenty of cabinets with ceramic tile floors and 2 breakfast bars. Paved circular driveway with ample parking. This home over looks the 7th Fairway. It is priced to sell at $74,700 below assessed value

8. 18 Forest Dr. 3 bedrooms, 2.5 baths, A Very Sweet Home on Private Level Lot. Close to Beach 2! Spread out in this affordable colonial that is kept neat as a pin on a quiet St. Spacious living room off foyer, breakfast bar in kit. Overlooks family room & dining area. Upstairs vaulted ceilings in master bedroom w/attached bath & huge walkin closet.  Nice sized guest rooms,  full bath & upstairs laundry. Recently replaced windows & sliding door upgraded to insulated,  double hung,  tilt sash & vinyl clad. 1 Yr Home Warranty w/HVAC for New Buyer!

9.  1103 Druid Ave. Charlottesville.  A little bigger than unit 4 doors down, and priced $20,000 less!  Gorgeous, well appointed with 4 floors of living and within walking distance to everything downtown.  Parking’s a little tight and the main road is outside your front door, but for a couple just starting?  Perfect.  This is the same kind of unit me and the Mrs started in years ago, except this one has a finished basement AND a garage!

10.  0 Spring Ct. Charlottesville. 2 units across the hall from each other come in @ $131/sq ft .  Selling both units for $250,000.  Great opp for investors.

Please, feel free to call me @ 434-964-7474 OR e-mail: Fulton@kw.com for more information and to sign up for your 20% Rebate!

Voted Best of the Best Web-site in Charlottesville GoTo:

http://www.CharlottesvilleHomeSellingTeam.com