Charlottesville, VA

Photo from Daily Progress

see local newspaper : Daily Progress

Things are getting tough for some in Charlottesville and one such example is the above mentioned local builder. With "more than 20 properties worth a total of at least $3.5 million" going into foreclosure.... this is a sign of the times.

It seems that this builder was left holding the bag after the housing boom.

I know for a lot of areas in the country this seems like small potatoes but I can tell you that this builder was one of the local builders who's homes were very desirable.

I wish them and thier subs all the best.

NOTE: Charlottesville Real Estate is still in high demand. Seems the high inventories are hurting builders more than anyone. This helps my buyers as they have so many choices!

UPCOMING EVENT!!!

Martha's Market
Oct 10, 2008 - Oct 12, 2008 Friday Oct 10 10am to 7pm; Saturday, October 11 10am to 6pm; Sunday, Ocotber 12 10am to 4pm

Location: John Paul Jones Arena

Martha's Market, The Women's Committee of Martha Jefferson Hospital's award-winning benefit for women's healthcare, returns to John Paul Jones Arena at the University of Virginia from October 10 through 12, 2008. Sixty-five boutiques from across the country turn the Arena into a unique marketplace.

Friday, October 10 from 10-7;

Saturday October 11 from 10-6;

Sunday, October 12 from 10-4.

Admission $5, children 10 and under free. John Paul Jones Arena is located at 295 Massie Road in Charlottesville. www.johnpauljonesarena.com or www.mjhfoundation.org


Martha Jefferson Hospital Foundation 434-982-8258

I got an interesting question the other day:

"So what does 10+ million buy you in Charlottesville Virginia?"

Since I used to live in the Silicon Valley (in California) I seldom get sticker shock! lol
Our local Charlottesville Real Estate has a very wide range of options.

The above Estate is on 70 acres with 17,100 finished sq ft. listed at 11.95mil.
(note: listed by Frank Hardy Inc. let me know if you want more information?)

This is just an example and for more on what is available click on this link: Estates in Charlottesville

I hope you enjoy seeing these Fine Homes in Charlottesville.

Disclaimer: Copyright ©2004-2008 Charlottesville Area Association of Realtors®. All rights reserved. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes in part from the IDX Program of Charlottesville Area Association of Realtors®. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.

We have been looking at the September figures for the area real estate market over the past week. To tie it all together it is important to look at the larger picture. In this post we will consider how the figures for the year to date compare with the figures for last year during the same time. We will be looking at the figures for homes sold from January 1 through September 30.

In Albemarle County, Virginia 822 homes have sold since the beginning of 2008. Compare this with the figures for 2007 when 1,211 homes had been sold by the end of September. This translates to a decrease in homes sold of 32.1%.

In the city of Charlottesville 477 homes have sold this year to date, however in 2007 525 homes sold in the same time frame. This is a decrease in sales of 9.1%.

The above figures are of all types of residential property, ie. detached, attached, condos and farms.

While we are examining the trends in the Charlottesville/Albemarle real estate market, lets focus on sales specifically of condos and attached homes. In 2008 up to the end of September 450 condos and townhomes in Charlottesville and Albemarle County sold. However in 2007, 688 Charlottesville/Albemarle condos and townhomes sold. This is a decrease of 34.6% from 2007.

As we can see the Charlottesville market over all is holding its own better than the Albemarle County real estate market. However both the detached home market and the condo market present opportunities for buyers. The large inventory translates into a lot of choices as well as a chance to purchase your dream home at a deal of a price. For buyers it could be the chance of a lifetime.

If you are selling in this market, it is crucial that you price your home correctly the first time. Properly priced homes are still selling. In addition, it is important to prepare your home so that it is in the best condition possible in order to ensure that it is the home that buyers will pick over all of the other homes that are on the market. In addition, since 85% of buyers start their home search on line, you need to choose an agent with a strong internet marketing presence.

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

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 website Jump into Greener Pastures or read my blogs Charlottesville Real Estate Talk and Charlottesville Horse Farms and Country Homes.