Jump into Greener Pastures
It continues to be an interesting year, and today’s real estate market is no different. In Central Virginia, we are seeing the spring market in the fall, with strong sales continuing due to pent up demand. At the current purchase rate, there is about a 3 month’s supply of inventory in the Charlottesville area. A 6 months supply is considered a Balanced market and below that number is a Seller’s market. As you can see, we are in a strong seller’s market.
The move to the suburbs is real and in our Charlottesville area the counties of Nelson, Louisa and Buckingham saw an increased number of sales in July of 2020 as compared to July 2019. As a result of the pandemic, we saw a shift of more people moving out of cities across the country. Many people are working from home and even as we recover, many will continue to work from home. This shift also has changed how we live in our homes. New home sizes had been falling for the past 4-5 years, but we are now seeing an increase in home size.
I had the opportunity to listen to Dr Robert Dietz, economist for The National Association of Home Builders, speak last week. According to Dr Dietz, the latest prediction is calling for a 2-year period for economic recovery, and housing is leading this recovery with 16% of GDP.
We are also seeing gains for mortgage purchase applications. However, increased Refinance activity due to the low interest rates helps keep inventory low as more people are staying in their homes and remodeling instead of selling. Due to the low inventory and high demand, we are seeing prices up by about 3%.
Since there is a shortage of resale homes coming onto the market, it will be necessary to have a strong new construction industry. However, there are several headwinds for new construction. Until there is a vaccine or treatment, there is the risk of renewed lockdowns. There continues to be a shortage of skilled construction workers, and although we are seeing an increase in trade schools, training takes time. There has been a 170% increase in lumber prices since April. This adds about $16,000-$20,000 to a new build.
New home prices and the cost of remodeling will gradually go up as builders go through the current stock of lumber. Since we get about 1/3 of our lumber from Canada, we will want to watch what happens with the tariff. Another impact on new construction, is the fact that the global supply chain has been disrupted because of Covid and the natural disasters. For new construction, you can expect higher prices and delays.
As you can see, there is cause for optimism, but one thing that we have learned this year is that things can change quickly.
SOLD
Are you thinking of settling in a country home where you can live in peace and tranquility and enjoy a more relaxed lifestyle?
If you are, this property in Earlysville could be what you are looking for.
Standing on 34.62 acres of lot and surrounded by partly wooded and partly cleared area, this home is the perfect escape from a hectic city life.
With its 5 well-appointed bedrooms, 4.5 spotless bathrooms, 2 car-garage, a magnificent living room, 2 home offices, 3 interior fireplaces, front deck and 1,500 square feet of equipment shed, you have more than enough storage for your things.
All these features and amenities are yours for $550,000.
Call me, Pam Dent, at 434-960-0161 and schedule a viewing to see your country home today.
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| Pam Dent – REALTOR®
Gayle Harvey Real Estate, Inc.
(434) 960-0161 [email protected] http://www.JumpintoGreenerPastures.com       
Listed by: Pam Dent |
Nearby properties for sale |
In case you can not view this video here, please click the link below to view 5639 Markwood Rd Earlysville VA 22936 | Country Home for Sale on my YouTube channel: https://www.youtube.com/watch?v=5UXjx8P-YGw&feature=youtu.be
Are you looking for a country escape? Do you dream of owning a country home where you can live in peace and tranquility and enjoy a more relaxed lifestyle?
If you are, this lovely property in Markwood Rd could be what you are looking for.
Surrounded by partly wooded area and nestled on 34.62 acres of gently sloping lands and mature hardwood trees, this home is like no other.
This Central Virginia property has 5 bedrooms, 4.5 bathrooms and a 2-car attached garage.
This beautiful country home is located in Earlysville, VA, a small town in the county of Albemarle. It is 17 minutes away from Charlottesville.
Do you know that Thomas Jefferson was born and spent most of his life here in Albemarle? He established his country home, Monticello, here in Albemarle.
This country home may sound like it’s located far from public amenities and conveniences, but the truth is it is in a convenient location.
It is only a 10 minute drive to Charlottesville Albemarle Airport.
If you have kids or grandchildren who go to school, Broadus Wood Elementary School is only a five-minute drive away.
For food and shopping options, Route 29 provides plenty of choices, and it is only a 12-minute drive away.
Enjoy the county’s scenic escape as you drive to this wonderful hideaway. The home is set back from the road down a dogwood lined driveway.
From the outside, this brick home presents an understated and classical farmhouse exterior, however, there are plenty of surprises waiting for you inside.
Step inside and be in awe of this home’s breathtaking living room.
With an open floor-plan featuring cathedral ceiling, a soaring stone fireplace, gleaming hardwood floors and exposed beams, it is something you do not see daily.
The elegant stone fireplace is the focal point of the main floor. It is also a great conversation starter.
Your guests will surely love the rustic elegance of this home.
If you love to entertain, space is not a problem in this expansive living room. Here you can fit in a good crowd and still have plenty of space to move.
And should you need more space, a sliding door on one side opens out to the rear deck.
This living room maximized the indoor-outdoor feel of this home with the clear glass wall on the other side allowing you unhindered view of the scenic clear blue sky and the vast forest and the sliding door on the other side.
Behind the massive fireplace is a central kitchen appointed with wood cabinets and tile and butcher block counters. Ceramic tiles grace the floors of this charming kitchen.
Because everything is within reach, preparing meals is easy.
Serve your family’s favorite meals and fill the home with the aroma of delicious food.
At the adjacent room is this home’s dining room.
With a wide window overlooking the front of the house, this room is bright and spacious.
Place here your family’s heirloom dining table and fill this room with sounds of laughter and conversation each meal time.
With two large windows that allow light to flood the room, this bedroom is bright and airy. The windows also provide unhindered view to the beautiful countryside.
The master bedroom is sufficiently- spaced for your king size bed and favorite bedside table lamp, while the carpeted floors give this room a touch of warmth and elegance.
Sleep your worries away and wake up to the chirping of birds in this lovely bedroom.
On the other side of the stunning living room you will find stairs leading to a large loft that overlooks the living room.
This loft has plenty of possibilities.
You can turn into another bedroom, or use it as family room.
If you love to entertain, you can turn this loft into a private home theater or an entertainment area.
This Central VA country property home for sale has a terrace level that also features another apartment.
Spacious and elegant, it showcases polished hardwood floors and a wood-burning fireplace.
It also a sliding door that opens to the backyard.
This room is cozy and adding a couple of couches and some decorations can make this room even more inviting, a great place to welcome friends and visitors who are coming over.
The terrace-level apartment also features a large kitchen with new appliances.
Preparing meals can now be more fun when friends or family members can help you out.
It is an eat-in kitchen, which makes it convenient and efficient to serve hot meals.
This apartment also has a well-lighted bedroom with a good space for a large bed and a closet, and another space for home office so you have a space for your books, printer and other office equipment.
Just when you think you have covered all the surprises of this home, think again.
There is another smaller apartment available on the second floor!
Featuring an open floor layout, it has a combined living and dining area. A small alcove at the far end of the room is the designated kitchen.
This second small apartment also offers a bedroom and a full bath.
If you need more space for storage, this home’s garage is answer to your concern.
It is a two car garage as well as a carport with a space for two cars.
For heavy equipment and machines like tractor, you can put them in the 1,500 square feet equipment shed located at the backyard.
This country home for sale in Central VA is surprisingly impressive and it is ONLY $550,000!
Would you like to learn more about this home? Visit my website at http://JumpIntoGreenerPastures.com for more information and photos.
In case you can not view this video here, please click the link below to view 5639 Markwood Rd Earlysville VA 22936 | Country Home for Sale on my YouTube channel: https://www.youtube.com/watch?v=5UXjx8P-YGw&feature=youtu.be
For first time homebuyers involved in their purchase of a Charlottesville Virginia home there is so much to understand about the homebuying process. One of the things that you may ask about is mortgage insurance.
Mortgage insurance is an insurance policy that protects mortgage lenders if a borrower defaults on their home mortgage. It is required in cases where a borrower's downpayment is less than 20% of the purchase price.
Like any other insurance policy mortgage insurance involves the payemnt of a premium and protects the mortage lender against loss. Mortgage insusrance will be included in the monthly mortgage payment. If the borrower defaults on the loan and the lender is forced to foreclose on the property, the lender may file a claim with the mortgage insurer for a portion of the total losses.
If you have questions about the home buying process, contact me. I would be happy to speak with you about what is involved in buying a home. Helping buyers get into the home of their dreams is my favorite thing to do.
Search all of the Charlottesville and Central Virginia homes on the market.
Sunday, September 28 is Family Day at the Foxfield Races. The fall steeplechase meet at the Foxfield Steeplechase course is always focused on families. There is the same exciting steeplechase racing as you find at the spring race, but the spectator activities are focused on families.
In addition to the thrill of watching the beautiful thoroughbred horses race over jumps, there are additional activities of interest to the entire family. These include the Jack Russell Terrier Races, a walk of the race course, pony rides, sky divers, the Albemarle Pipe & Drum Corps, and a parade of the Farmington Beagles. Don't miss the Foxden Children's Activities Tent.
The beneficiary of the Foxfield Fall Races is Kid Pan Alley.
Tickets and parking are only sold in advance. For information or to buy tickets call 434 293-9501 or go to the Foxfield website.
The Foxfield Race Course is located on Garth Road just a few miles west of Charlottesville, Virginia. While you are in town for the races, take the opportunity to tour the scenic Virginia countryside. If you are interested in finding the perfect Albemarle horse farm or Charlottesville country home, I would love to show you what is currently available.
Click here to perform your own search of Central Virginia homes.
Pam Dent
Phone: (434) 960-0161
Email: [email protected]
Gayle Harvey Real Estate Inc.
198 Spotnap Rd, #C-5,
Charlottesville, VA 22911
