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Charlottesville Real EstateAgain our top three for an affordable Charlottesville home we pick Pen Park, Forest Lakes & Lake Monticello. The Good: December Charlottesville homes sales jumped in mid-may 2011 by 12.3%. The increase put annual Charlottesville homes sales at 52, the highest level since June 2010 when the home tax buyer credit expired. The sales rate was much higher than expected, as experts had forecasted an annualized sales rate of 48 Charlottesville homes. Also, the inventory of Charlottesville homes for sale fell to 356, a 4.2% decrease. That represents an 8.1 month supply of inventory, down from the 9.5 month supply in November.
The Bad: One million home starts in a year is often considered the benchmark for a good
economy. Housing starts fell significantly short of that number in early 2011 with a total of 587,000 starts.
It was the second worse year since they started tracking the stat in 1959. Only 2009′s total of 554,000 was
worse. According to the National Association of Home Builders, each housing start “creates, on average, the
equivalent of three jobs for a year and generates about $90,000 in taxes.”
The Astonishing: Buying a Charlottesville home is a big decision and some just aren’t ready
to make that leap. Count Facebook’s founder Mark Zuckerberg among those. Zuckerberg recently rented a 3,800
square foot home in Palo Alto, CA. With an estimated net worth of around $14 billion, I think it’s safe to say
he’s a renter by choice. I wonder if the homes owner ran a background check.
The Astonishing II: Remember in 2007 when we were
checking out the values of our Charlottesville homes on Zillow on a pretty regular occasion? Good times.
Well, it never occurred to me that you could Zillow the White House. Demonstrating that nothing is immune
to the current downturn, the White House’s current value of around $250 million is down nearly 25% from
it’s peak value of $330 million at the top of the housing market.
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Kurt Vogelsang - Virginia Estates
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