About Montgomery County, VA

Coal-fired power plants.

Critics say they're dirty, that it has enormous leave-behinds in the form of ash, pollutants like sulphuric acids, arsenic and loads of carbon dioxide, not to mention the costs - both quantifiable and non-quantifiable - for mining, disposing of leave-behinds, and illnesses in the local communities.

Doesn't sound like a really pleasant thing to be around, does it? Did you know that Virginia Tech has it's own power plant, and that it's fueled by coal, that dirtiest of fossil fuels?

Before you jump up and start making picket signs, check out this article by 16 Blocks Magazine - it might just give you a different perspective on new ways that 800 pound gorilla we call Virginia Tech is discovering to serve an increasing demand while minimizing its' impact. Think it isn't working? The systems installed in the Virginia Tech facility have resulted in "a ninety percent reduction in emissions and a smoke stack that hardly seems to smoke at all. By industry standards, an emissions opacity of ten percent is considered good. VTPP's opacity hovers between two and three percent, a level of smoke invisible even in broad daylight."

THAT's making a difference.

More photos of the plant on Flickr.

Just announced today, Tech's new energy initiatives. It's all part of Sustainability Week here in Blacksburg.

16 Blocks Magazine supplied the photo.

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The Current yesterday ran a "forum" piece regarding the proposed Blacksburg workforce housing project that's been hotly debated; it appears that the forum was a response to this October 5th editorial.

Please tell me this was a joke. Honestly. I'm confused as to the message this sends to community residents.

Quotes include:

• "Residents ... would have the convenience of having elementary, middle and (proposed) high schools; churches; parks; recreation fields; and grocery and other shopping located one mile or less from their neighborhood"
• "Blacksburg Transit service would be extended to the site ..."
• the residents would enjoy "social and environmental benefits of living in an EarthCraft designed and certified community -- the first such proposed project in Virginia"

Why is the Blacksburg Housing and Community Development Advisory Board determining that the best place to put an affordable housing project is outside the Town limits? At least on the Harding Avenue site we were attempting to annex the property so that it'd be within the Town boundaries and it has easier access to downtown, but to say the Merrimac Road location is the best solution is crazy. The whole goal of the project is to find a location where residents can easily interact with things happening within the Town while utilizing current roads, public transportation and walking and biking trails, but as it is now the Merrimac Road location is outside of Town limits, and provides no easy alternative to get in and out of the downtown area other than Price's Fork Road. I haven't driven it - yet - but I'd guess the Merrimac Road location is nearly 5 miles from Main Street and College Avenue, widely regarded as the "center" of downtown. The Harding Avenue location is maybe half that, and for the most part follows established bike paths and suburban streets? Furthermore, to extend Blacksburg Transit just to serve this community smacks of "thank us for our generosity." The Harding Avenue had a bus stop literally yards away, eliminating the need for heavy rerouting of buses and scheduling.

The forum goes on to say that the project will be green and efficient, and will be the first such project proposed in Virginia. If they're referring to affordable housing that may be the case, but I don't think it's the first EarthCraft certified community in the state, nor is it the first in Blacksburg.

I have a hard time understanding why Merrimac Road makes more sense. I think it just reeks of elitism and ulterior motives, and I hope you can work it out with the Montgomery County Board of Supervisors to fix this one.

Dazed and confused.

Last month, I wrote "What Is A Home Inspection?" I fully intended to write more ... but I didn't.

Then Jay Thompson in Phoenix wrote about the home inspection from the Seller's point of view. I think he wrote it better than I could.

The seller should be looking at the inspection in much the same way as the buyer is:

"A home inspection for the purposes of this Contract is RESTRICTED TO DETERMINING ONLY that the plumbing (including well, well pump and septic systems, if any), heating, air conditioning (if any), electrical systems and appliances are in safe working order, there are no structural defects, and the roof is free of leaks. The home inspection and any subsequent inspections shall be at Purchaser's expense."

In our area of Virginia, if you agree in whole or in part to the repairs requested in the home inspection Amendment, make sure there is a completely ratified (signed and initialed) Amendment. The home inspection contingency is then removed and you can move forward with the Contract. As a seller, you want to make sure there's a specific dollar amount specified for repairs (it varies on what that amount is, sometimes as little as $500, but the Contract should state very clearly what that amount is. If you can't come to an agreement with the buyer regarding which repairs will be completed, then the Contract can be terminated (again, in writing), the buyer can get their earnest money back, and your house can be put back up for sale.

I can't say that we see many deals fall through over home inspections, but sometimes negotiations just don't work out as planned and the house has to go back on the market. Remember - if one buyer didn't like that the roof was falling apart, it's probably that another buyer's not going to like that either. If you can make some of the repairs suggested in the report prior to putting the house back up for sale, it might be a good idea. Another even better idea might be to have the house inspected prior to listing it; then you can provide potential buyers a little more confidence that yours is one they need to seriously consider.

Thanks Jay, for the great write-up.

Bifocals and Anderson.

I mentioned Sustainability Week recently, but there wasn't much information available.

Now, there's a lot more.

• What is Sustainability Week?
  
• What's happening? Short version or long version.

Why is this important? Taking care of our environment is more than a fad, it's the right thing to do. We have a legacy to leave - what will it be?

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August has come and gone, and September has as well. The leaves are changing ... it's one of my favoritest (can I say that? Sure I can) times of the year here in the New River Valley. September has NOT been nice to the stock market, however - there's no secret there, we've passed a bill with economic implications that are really beyond comprehension to try and stabilize it, and oh yea, there's a presidential election going on as well. Wondering how it all effects housing? My best guesses here, here, here and here. As I said last month however:

"a slow, steady and calculated approach to the market is going to be important as we move forward towards 2009."

I believe that, more than ever. If you look at the first half of the year you'll see prices being soft during a time of year that's typically a much stronger market, and then as we've gotten further into the fall that trend has continued. According to figures pulled from the New River Valley MLS, volume across the entire New River Valley (which my absorption rate statistics does not cover in its' entirety) is down about 14% from this time last year, the average sold price is down about 11% from this time last year, but the list to sale ratio is 96.3% (compared to 96.2% last year). That tells me that while prices are down from this time last year, sellers are pushing for lower list prices as well - this is a good strategy. In a market that's soft, don't rely on the price your neighbor got six months ago. Stay ahead of the knife and price it right the first time. One more cautionary tale, and I mentioned it last month ... if you are in an Adjustable Rate Mortgage, and your rate adjusts or expires at anytime in 2009, please contact me immediately. There are serious implications for many homeowners who will find their payments jumping by hundreds of dollars a month, let's find a local lender who can act quickly to help you refinance and keep your payments low.

When it comes to absorption rates, we're looking at how long it would take to sell the existing residential inventory in a particular area, if nothing else came on the market until supply was exhausted. Anything over 5 months is typically a buyers' market, and anything less than 5 months is typically a seller's market.

Area	# of Active Properties	# of Sold Properties	Absorption Rate	Buyer/Seller Market
Blacksburg	206	19	10.84 Months	Buyer
Christiansburg	272	17	16.00 Months	Buyer
Montgomery County	68	8	8.50 Months	Buyer
Floyd County	127	2	63.50 Months	Buyer
Giles County	60	8	7.50 Months	Buyer
Pulaski	101	5	20.20 Months	Buyer
Dublin	116	7	16.57 Months	Buyer
Radford	79	7	11.29 Months	Buyer

A full and complete shift into a buyers' market through September, which again is no surprise, it's part of the cycle. Certainly, news from Wall Street and an election are playing into this, as well as just the typical slow down that happens every year about this time. I was asked on Monday if I was worried about my job. Let me be clear ... NO. People are going to buy and sell during turbulent times. The market will be different, it will be rocky at times, but if I know how to navigate it and put the pieces in place, it all works out in the end. Let me repeat - a slow, steady and calculated approach to the market is going to be important as we move forward towards 2009.

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