Selling Short
To the rest of the financial world, selling short refers to the act of selling shares of stock that one doesn't own, in hopes that the price will drop, and being able to purchase those shares later for less. But, as with most things real estate related, a short sale has a whole different meaning, and its not a good one. However, despite national trends, Charlottesville seems to be have stayed away from Short Sales at least for the time being.New Urbanism Video
I came across this video on a web site of the Congress for New Urbanism. Its pretty well done and I thought I would share it. Open the full posting to view the video.Read all of New Urbanism Video
Not just in Charlottesville
Thanks to one of my readers for sending me this link to a NY Times article from today. What we have been saying for some time about Charlottesville is true everywhere. Living in the country can be beautiful, but it does come with costs.Read all of Not just in Charlottesville
My Tongue is Bleeding
Anyone who knows me, knows that I don't keep my mouth shut about much, and that biting my tongue is not a talent that was bestowed upon me by my maker. Try as I might, I just can't bite my tongue any longer on this one. Today, as with many days, I read a blog posting elsewhere that claimed that the Charlottesville real estate market is doing great. Not just okay, but great. I suppose I find this shocking because by all statistical studies this is not exactly true. There are segments of the market that continue to do well, but the overall market is in need of a real stimulant.Read all of My Tongue is Bleeding
Gas prices up, milage down...
Most people are talking about gas prices skyrocketing. President Bush wants to drill for oil in every known location to try and deal with the sticker shock. Americans are driving less... Right? Gas is up over 100% recently, of course we are driving less. This should be a no brainer.... and yet...Read all of Gas prices up, milage down...
How Low Should you Lowball?
I can't tell you how many buyers ask "so what percentage of asking price should we offer in this market?" Not just now when the market is slow, but always. This is one of those buyer questions that everyone hears all the time. It goes along with "What home is going to have the most appreciation?" Well, to the later, I respond that I don't have a crystal ball, but for the former, "There is no set figure." People like a real answer, not cryptic, so this usually frustrates them. But, here is the formula. The price offered should be directly related to the value of the property, not the asking price.Read all of How Low Should you Lowball?
Bloomberg Agrees with Me
OK, so I doubt that Bloomberg reported on real estate advertising sales just so my last blog posting would have some validation, but I'll certainly reprint what they have to say. Bloomberg reported this week that in the first quarter of 2008, print ads were down 14% across the full spectrum of industries. But amongst real estate, ads were down 35%. Why so much emphasis on real estate? and, where have these ads gone?Read all of Bloomberg Agrees with Me
Really Expensive Advertising for Sale
While agents are forced every day to determine whether to spend money on print advertising or Internet ads, typically, we are looking at $150 - $5,000 purchase decisions. Landmark Communications out of Norfolk is hoping to fetch $1.4 billion for the sale of their advertising division that includes homes.com and many print publications (AutoTrader, TruckTrader, TraderOnLine, etc...). Consumers won't notice the change, and frankly, most Realtors don't know who owns these publications anyway, but it does show a shift that is being recognized by those in power, and profit taking is occurring before there are losses.Read all of Really Expensive Advertising for Sale
Uncle Sam May Help you Buy a Home
Toll Brothers has pushed, and the National Association of Home Builders has supported, and now congress seems to be talking about a bail out in the form of a tax credit. And not a small one either. Current proposals are between $7,000 and $7,500. It still has a long way to go, but it looks like it might impact a lot of buyers.Read all of Uncle Sam May Help you Buy a Home
Depression Therapy Needed
Toll Brothers : The largest luxury home builder in the country. Since July of 2005, Toll Brothers has lost nearly 65% of its value in the stock market. This week, CNN reported that the homebuilder thinks we are in a depression and that we could see two more years of suffering. He could be serious, and he could be signalling to his competition that now is not the time to ramp up on construction; while he turns and does the opposite.Read all of Depression Therapy Needed
