NGIC - Where are we now? Charlottesville and NGIC Real Estate

NGIC REAL ESTATE

The estimates were that some 900 new home owners would be relocating to our area near Charlottesville Virginia...

A story in 2008 on www.c-ville.com by Will Goldsmith stated the following:

"All those home builders banking on selling houses to new National Ground Intelligence Center(NGIC) employees may be in for a rude awakening. An estimate from the Charlottesville Area Association of Realtors (CAAR) is that only 30 to 40 percent of employees will relocate, the rest not wishing to unsettle spouses and children."

So are we talking about 30% or 300 jobs? There is also word out there that many will be looking to rent vs own. So of these 300 will half rent? That equates to around 150 possible new buyers. The other piece of information is that they are looking at the middle of 2010... a lot can happen between now and then.

None of this is totally clear but the clear thing is that a lot of builders and relocation companies that were counting on this move will have to re-group.

If there is one thing I have learned in business (I have been self-employed since the early 80's) it is that change is going to happen and you need to be able to adjust.

I hope that the builders and the Real Estate Brokers did not put all their eggs in one basket...