Jump into Greener Pastures
Open House – Sunday December 7, 1:00-4:00 pm
5 Patriot Lane, Lake Monticello, Palmyra, VA
Don't miss the chance to see this well maintained home that offers so much space for the money!
3 bedroom, 3 full bath, 1960 finished sq ft and 728 for you to finish. All for only $220,000
directions from the main gate at Lake Monticello. right on Jefferson. left on Possum, right on Patriot. home on the left.
Many homeowners have opted to remodel their existing home rather than buy up into a new home. However since they may still be planning to sell in the future it is important to them that their remodel brings a good financial return. In addition some homeowners are viewing the remodel as a means to spruce their home up for sale with the hope of getting a better price and making their older home more desirable in today's market. According to NAR studies many exterior remodeling projects such as new siding or adding a deck bring a higher return than a lot of interrior remodels such as a new kitchen. For more details read what Inman News has to say in their recent article about remodeling returns.
In the Charlottesville real estate market you will see many resale homes on the market that have had upgrades and renovations. While these homes will not always bring a higher price than comparable Charlottesville homes on the market, coupled with a good location, they will usually be the one to sell.
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 other blog Charlottesville Real Estate Talk for more information on Charlottesville homes, farms, events and real estate.
Are you looking for an affordable horse property? A Fluvanna County farm or farmette may provide the perfect solution. There are currently 10 horse properties actively listed on the Fluvanna County real estate market for under $500,000. These horse farms range in price from $219,900 to $475,000 and range in size from 5.76 acres up to 39.48 acres. Fluvanna County adjoins Albemarle County, Virginia; however Fluvanna offers lower home and land prices, and lower taxes than Albemarle, while still offering convenience to Charlottesville, Virginia. Fluvanna is a county of scenic Virginia beauty and rolling hills. Come to Fluvanna County and experience the Virginia country life.
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 other blog Charlottesville Real Estate Talk
for more information on Central Virginia homes, events and real estate.
Fannie Mae and Freddie Mac have given overextended borrowers a Thanksgiving present. The mortgage giants have temporarily suspended foreclosures through January of 2009. They have directed their loan servicing organizations and attorneys to suspend foreclosure sales and evictions on occupied single family homes. This has been implemented as support of the modification program which was announced on November 11 and is due to begin on December 15.
Inman News has published an article going into more detail on these new developments. According to the article “Fannie’s streamlined modification program is aimed at the highest risk borrower who has missed three payments or more, owns and occupies the primary residence, and has not filed for bankruptcy. The program creates a fast-track method for getting troubled borrowers into an affordable monthly payment through a mix of reducing the mortgage interest rate, extending the life of the loan or even deferring payments on part of the principal. Servicers have flexibility in the approach, but the objective is to create a more affordable payment for borrowers at risk of foreclosure.”
This new development should offer a chance for many borrowers to keep their homes and avoid foreclosure. According to Inman Freddie Mac expects to approve workouts on 84,000 or an estimated 140,000 who are delinquent on Freddie Mac owned mortgages.
To read the article click here.
As we spend this Thanksgiving with friends and loved ones it is important to consider all of the things that we have to be grateful for. I would like to share with you a bit of good news from Sandy Madison at Sun Trust Mortgage.
The points listed below by Sandy point out that the Charlottesville real estate market may be headed in the right direction.
Nationally mortgage applications fell by 6.2% last week.
Last week our office reported a 50% increase in applications over the previous two weeks.
This week our office took more applications that we took in the two previous weeks combined.
75% of the twenty-seven applications taken over the past three weeks were with purchase contracts.
National home price affordability has reached a 4-year high.
Home price affordability is expected to experience only a modest increase in 2009.
Mortgage insterst rates have continued their downward movement.
The Charlottesville real estate market is gaining momentum.
And more good news from Karen Seiarrino with T.Y. Mortgage. Yesterday interest rates for a 30 year fixed fell to 5.5 with no points and 5.25 with one point.
The combination of low interest rates and lower home prices are making Charlottesville homes affordable again. This is good news!
I wish all of my readers the best of Thanksgivings. Cherish this time with family and friends. Have a great holiday!
Many people who are in the position of having to sell their current home in order to buy a bigger home or one with more amenities, are focusing on the fact that their current home will not sell for as much in the present market. What they don't realize is that the money that they will save on their new home when buying up will actually more than offset the loss on their current home.
The graphics shown below illustrate this point.
As you can see when you sell and buy up, you are saving more on the purchase of the new home than you have lost on the sale of your old home. In addition when the market does improve, and it will improve since the real estate market is cyclical, the larger home will experience greater appreciation. For example if home values were to rise 10% in future years the new larger home's value would appreciate by $38,000 as opposed to the $19,000 increase of the smaller home.
If you are in the position to sell and buy up, the current market offers an opportunity that will not be available when the maket begins to shift back to a seller's market.
The above graphics and figures are courtesy of Shift and Gary Keller.
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 other blog Charlottesville Real Estate Talk for more information on Charlottesville and Central Virginia homes, events, and real estate.
Even with the constant barage of stories in the media about declining home sales and the resulting drop in prices, many sellers are still in denial about the market value of their homes. They think that all the other homes have dropped in value except for theirs. A recent MSNBC article reported the trouble that Realtors are having getting sellers to realistically price their homes. Read more
Many people are confused right now about the best time to jump back into the real estate market. Everyone wants to buy at the bottom of the market. Are we there yet? Will prices drop more?' The answer is that no one will be able to know when the market has hit bottom until it starts back up again. Of course once we can see the upturn it is too late. You have missed the bottom.
The important factor is to focus on finding the home that you want at the price you would like to pay. When that happens it is time to buy, because that property may not stay around at that good price. Do you want to take the chance of losing it.
There was a very good article published in Inman News written by Gustavo Blachman that speaks about the question of whether to buy now or to wait. They are talking about waterfront properties in Florida, but the discussion applies equally well to Charlottesville horse farms or any other Central Virginia properties.
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 other blog Charlottesville Real Estate Talk for more information on Charlottesville and Central Virginia events, homes and real estate.
We all have heard how hard it is to sell a home in the current real estate market. I have spoken a lot about what sellers need to do in order to ensure that their Charlottesville, Virginia home or a Charlottesville horse farm is the one that buyers will pick over all of the others that are on the market. Sometimes it is just as important to know what not to do when selling your Central Virginia home as it is to know what to do.
My friend Bill Gassett – Metrowest Massachusetts Real Estate just posted an excellent blog on the Top Ten Mistakes To Avoid When Selling Your Massachusetts Home . This post applys equally well to selling a home in Charlottesville, Virginia or any other section of the country for that matter.
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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.
For more information on Charlottesville, Virginia and Central Virginia events and real estate visit my other blog at Charlottesville Real Estate Talk .
When you are building green home or making your existing home more eco-friendly, one of the things to consider is what kind of heating system to use. One system to look into is the geothermal heatpump. This is a very efficient method of heating that has a lower impact on the environment than conventional systems.
The geothermal system uses the earth as a heat source, by extracting heat from the ground via water circulating in a closed pipe. The pipe is located either in a trench or a well. The geothermal heat pump is more efficient that a regular heat pump, because the ground temperature stays constant. Therefore the geothermal pump is pumping the heat through a smaller temperature difference that the regular heat pump which is pumping the heat from the cold air. The GHP ends up using 25-30% less energy. Therefore although they do have a higher installation cost, over time you will save money. By installing a goethermal heat pump, not only will you be conserving energy, but you will also be making a good investment.
Charlottesville has many green built homes and Energy Star homes on the market. There are also several things that you can do with your existing home to make it more environmentally friendly and lower your energy bill at the same time.
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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.
For more information on Central Virginia and the Charlottesville Real Estate Market visit my other blog at Charlottesville Real Estate Talk.
Pam Dent
Phone: (434) 960-0161
Email: Pam@PamDent.com
McLean Faulconer Inc.
503 Faulconer Dr. #5
Charlottesville, VA 22903