Charlottesville VA Real Estate, Bob Harris

The Forest Lakes market remains virtually unchanged in the past week. Information from our local CAAR Charlottesville Area Association of Realtors MLS indicates that out of approximately 1,400 homes in the Forest Lakes neighborhood there are just 24 homes for sale, only 3 of which are deemed distressed properties, and just a scant few for rent. In the past month there have been 4 Forest Lakes homes go under contract, while in the past three months there have been 23 homes go under contract. Could it be that there may be only three months of standing inventory? If you are looking for a great place to live that’s beautiful, clean, safe while being convenient to everything, please give Forest Lakes a look. It’s not only a great place to live and raise a family, it’s a great investment.

The Forest Lakes market remains virtually unchanged in the past week. Information from our local CAAR Charlottesville Area Association of Realtors MLS indicates that out of approximately 1,400 homes in the Forest Lakes neighborhood there are just 23 homes for sale, only 3 of which are deemed distressed properties, and just a scant few for rent. In the past month there have been 5 Forest Lakes homes go under contract, while in the past three months there have been 23 homes go under contract. Could it be that there may be only three months of standing inventory? If you are looking for a great place to live that’s beautiful, clean, safe while being convenient to everything, please give Forest Lakes a look. It’s not only a great place to live and raise a family, it’s a great investment.

The Forest Lakes market remains virtually unchanged in the past week. Information from our local CAAR Charlottesville Area Association of Realtors MLS indicates that out of approximately 1,400 homes in the Forest Lakes neighborhood there are just 22 homes for sale, only 2 of which are deemed distressed properties, and just a scant few for rent. In the past month there have been 7 Forest Lakes homes go under contract, while in the past three months there have been 22 homes go under contract. Could it be that there may be only three months of standing inventory? If you are looking for a great place to live that’s beautiful, clean, safe while being convenient to everything, please give Forest Lakes a look. It’s not only a great place to live and raise a family, it’s a great investment.

Information from our local Charlottesville Area Association of Realtors MLS indicates that out of approximately 1,400 homes in the Forest Lakes neighborhood there are just 22 homes for sale, only 2 of which are deemed distressed properties, and just a scant few for rent. In the past month there have been 8 Forest Lakes homes go under contract, while in the past three months there have been 22 homes go under contract. Could it be that there may be only three months of standing inventory? If you are looking for a great place to live that’s beautiful, clean, safe while being convenient to everything, please give Forest Lakes a look. It’s not only a great place to live and raise a family, it’s a great investment.

The question most asked is, "What should I do? Is this the time to buy a home? Is this the time to sell my home?". Well let's take into consideration these facts. Interest rates are dirt cheap. The price of buying money is so low right now that if it were any lower lenders would be paying to have the money taken off their hands. The home price correction has taken place. In some areas the price for homes has started to increase. The on hand inventory or availability is still very high.

Most people are sitting on the sidelines. They have in their minds the home equity they enjoyed just a few years ago and are willing to wait until that price point returns. They are wringing their hands looking for the perfect scenerio, sell their home high and purchase the next home on the cheap. Well there may be a way for some people to do both. Since obtaining a mortgage has become more difficult for many people, who would otherwise purchase, they are being forced to rent. Hence there's now an over all shortage of nice rental properties. One way to take advantage of this unique market is to rent the present home. Let someone else make all the payments. A good part of the rental income can be used as real income when qualifying for the next mortgage. This way a person can enjoy the advantages of these low home prices and mortgage rates by having someone else pay the expenses for the present home.

Most people are soured with the idea of renting out their home. Well to that I say, "It's not your home anymore, it's a rental property, it's someone elses home. Your home is where you will be living.". If the idea of being in the rental business is daunting there are great rental management companies ready to do all the work for you. Their fee is a tax deductable business expense as is every other expense associated the rental.

If after three years the market has bounced back sufficiently to make it advantagious to sell, capital gains tax law require only a residency of two out of the past five years to eliminate the capital gains tax. But also having someone else pay all the expenses until the "rental unit" is paid for in full means a nice steady income for retirement.

This is the time to buy. Figure out a way.