CVS Pharmacy Coming to Fluvanna (Video Proof)
December 14, 2007 | 4 Comments
There has been a lot of talk recently about the CVS pharmacy that was rumored to be coming to Fluvanna County. I believe that I first heard the rumor about two years ago. As things got closer, there were numerous county meetings, and even a bit of a flap over what Fluvanna is going to do with its very first permanent traffic light.
From the beginning, I was a skeptic. I still remember how long it took for the Food Lion grocery store to be built (newer residents assume it has been here forever). It was talked about for YEARS before it was ever built. Based on that experience, my response to the CVS talk was “I’ll believe it when I see it.” Looks like I’m going to have to start believing.
The video above was taken from the parking lot in front of our Strong Team REALTORS office this morning. The CVS is being built right next door. So there it is, real proof that the CVS is coming. It should be interesting, and I will keep people updated on the progress here, since I know some of you don’t live in the area full time. I wouldn’t want you to travel down here and be surprised by a shiny new pharmacy.
Now, what about that traffic light? THAT is the real story.
Virginia Governor Tim Kaine Makes a Stop in Fluvanna county
December 11, 2007 | Leave a Comment
Governor Tim Kaine visited Palmyra this morning to attend a dedication ceremony for the newly-constructed Pembroke-Pettit bridge across the Rivanna River. The bridge opened in October, and the old bridge has now been completely removed.
The ceremony was well attended by Fluvanna County residents and members of the Fluvanna County Government. There was a definite excitement in the air as everyone awaited the arrival of the Governor. This was a monumental day for Fluvanna County, as visits from the Governor are rare, especially when we aren’t in campaign season.
The Governor spoke at length about the planning and effort that went into the bridge construction project, specifically highlighting the cooperation between the state and the Fluvanna Historical Society, along with the special environmental considerations that went into the design of the bridge. The new Pembroke-Pettit bridge is a centerpiece of the county’s continuing plan to provide scenic and recreational areas to be used by the county’s visitors and residents. Being a long-time resident of Fluvanna, I can say that I am proud of the new bridge and the new era of county history that it ushers in.
Speakers for the ceremony included Fluvanna County Supervisor Marvin Moss and the outgoing Chair of the Board of Supervisors, Cecil Cobb. You can view the video of their remarks here.
The video above is mostly of Governor Kaine. I also edited his remarks just a bit for the sake of time. You can view photos of the event here.
2007 Fluvanna County Toy Lift
December 8, 2007 | Leave a Comment
Today was the day for the 2007 Fluvanna County Toy Lift. The toy lift was coordinated by Dr. Ed and Denise Lauterbach. The Toy Lift took place at the Food Lion shopping center just outside Lake Monticello. The weather may have been chilly, but Ed, Denise and all of the volunteers made sure that the atmosphere was warm.
At the time we stopped by to drop off her toys, I was able to interview Denise (that’s her in the video with her sister) and ask her about the toy lift. All of the toys are given to children in the Charlottesville area. The toys are given to children in Fluvanna first, and then spread throughout the area. Ed and Denise have been coordinating the toy lift for a few years now, and each has been more successful than the last.
The toy lift is a great way that the citizens of Fluvanna County can show their support for the neediest members of the community. While the toy lift for Fluvanna is over in 2007, I encourage all of you to come out next year, or to visit a toy lift in your area and make a donation.
Charlottesville Real Estate September Sales Statistics
October 11, 2007 | Leave a Comment
August was rough, and September wasn’t any better for the Charlottesville real estate market. Below are the charts for the sales in the Charlottesville area in September, and for the entire year-to-date. As always the sales data is compiled from the Charlottesville Area Association of REALTORS MLS.
Let’s take a look:
For the month of September, the Charlottesville area saw a 33% drop in sales compared to September of 2006. Ouch. That is after the 30% year-over-year drop in August. The only area that actually saw an increase in sales was the City of Charlottesville, which had 4 more sales.
Now let’s see how the September numbers affected the year-to-date statistics for the Charlottesville area:
The sales deficit for the year is holding steady at 22% less sales in 2007 compared to 2006. That makes three consecutive months where the deficit has remained 22% (almost four– in June, the deficit was 23%). If there is some good news here, I guess that is it. If this holding trend continues, it may signal that we are in the bottom of the current dip. Right now, it is too early to be able to tell.
Albemarle is still the only area that has seen a drop in the median sale price at -2%. For the entire Charlottesville area, the median has risen 4.5% so far this year. While that number isn’t exactly spectacular, it is healthy and sustainable, which is a very good thing.
I was hoping that would able to post some Days on Market stats, as the rules have changed around here, but that will have to wait at least another month as the MLS sorts things out.
As we move into the final quarter of the year, the stats are bound to get more and more intriguing as we begin to get a complete picture of the 2007 Year in Real Estate. Stay tuned for more stats.
If you are reading this and have questions about the stats in specific neighborhoods or other areas not covered here, just let me know, I am happy to provide what I can.
[tags] real estate, realtor, charlottesville, albemarle, fluvanna, greene, nelson, market statistics, housing statistics, median home price, home sales statistics [/tags]
The Charlottesville Area is More than Charlottesville and Albemarle
September 17, 2007 | Leave a Comment
This is me in the latest edition of Abode in the C-Ville Weekly. The purpose of the article was to expose people to the idea of looking at real estate in the more rural areas that surround Charlottesville and Albemarle as potentially better long-term investments.
Most of the attention in our area has always been focused on Charlottesville and Albemarle (heck, my personal site is titled “Charlottesville Area Real Estate”). Truth be told, however, the outlying counties (Fluvanna, Albemarle, Louisa, et. al.) have always provided a very attractive alternative to living in Charlottesville and Albemarle. They have been attractive because of their relative affordability.
The contrast in price between Charlottesville/Albemarle and its surrounds was quite stark a few years ago. The first buyer client that I ever worked with came to me looking for a home in Albemarle. For the home he was seeking at the price he could afford, Albemarle had 4 homes listed in the MLS. Fluvanna, on the other hand, offered 30 homes. Where do you think he bought a house?
That gap is now lessening, however. As the market became hotter and hotter, prices rose dramatically in the more rural counties. While those rural counties still tend to be more affordable, for a number of reasons, the gap has shrunk to the point that now people have a real choice to make when they come to the area. The spillover from Charlottesville and Albemarle has lead to economic growth in Fluvanna, Louisa, and Greene especially. This growth has made these areas more attractive to people who previously would only have considered living in very close proximity to Charlottesville. Growth on the west end of Richmond has also made Fluvanna and Louisa attractive to people who may work in Richmond, a market that didn’t really exist 3-5 years ago.
Is one area a better long-term investment than another? That question is much more difficult to answer, since there are vast differences within the counties themselves in addition to those differences in relation to each other. The real estate boom that the Charlottesville area has experienced recently has certainly changed the dynamics of the market. That C-Ville Weekly would even do feature story on real estate in the rural counties is just confirmation of that fact.
[tags] real estate, realtor, charlottesville, virginia, fluvanna, louisa, greene, albemarle [/tags]
August Sales Put a Big Dent in the Charlottesville Real Estate Market
September 14, 2007 | 3 Comments
Time to take a look at the sales stats for August in the Charlottesville Area. As I previously posted, the Charlottesville Association of REALTORS did a bit of foreshadowing for us, but now we have a chance to really see what the situation is. New this month, I am going to a graphic display of the data. It has been my experience that looking at the graphs is a much easier and more meaningful way for people to take in the data, rather than just the raw numbers charts I was posting before. Let me know how you like it.
First up, the month of August:
As you can plainly see from the graph, every area was behind the August pace of 2006. No surprise there. The Charlottesville area as a whole was a whopping 30% off of the sales pace set in August 2006. That is quite a big difference for one month. Fluvanna, Charlottesville, and Albemarle all saw sales dip more than 20% for August. Albemarle had the unfortunate distinction of being the biggest loser of the bunch, down 37% compared to last year.
With August being such a rough month, let’s take a look at how it affected the year-to-date totals for the Charlottesville area:
The year-to-date losses in every area have been significant, with the overall effect being a 22% drop in sales for the Charlottesville area in 2007 compared to 2006. No matter how you look at it, that is a lot less sales from one year to another. The median home price is still up 5% for this year in the Charlottesville area. The only one of the areas that has seen a drop in the median price is Albemarle, where the median is down just a hair over 2% in 2007.
It is a very different real estate market here than what has been experienced in the past. The fundamentals remain the same, however. Accurately priced, well prepared homes will sell. The key for sellers is to realize that accurately pricing a home and preparing it to sell are now absolute must-do items.
For buyers, the market has most assuredly swung in their favor. With all of the inventory on the market, buyers must be as prepared as ever to recognize the best deals available, as there are certainly a few to be had.
September will be an interesting month, in that it marks the end of what is usually considered the “selling season” and it will tell is if August was just a bump in the road or a sign of things to come. . .
[tags] real estate, realtor, charlottesville, virginia, albemarle, fluvanna, greene, nelson, sales statistics, housing [/tags]
Zion Crossroads Providing Much Needed Commercial Development
July 18, 2007 | Leave a Comment
Anyone who lives east of the Charlottesville/Albemarle area, knows all too well the drive into Charlottesville. For decades, residents of Fluvanna and Louisa especially, have made the drive into Charlottesville for dining, shopping, recreation, etc. That may soon be changing.
Zion X Roads (the area where Rt. 250, Rt. 15 and I-64 intersect) is quickly developing into the next major regional commercial location. There have recently been a few news articles regarding the planned development, which I will be covering in a few upcoming posts. On the horizon for Zion X Roads is a new Best Western Hotel (opening August 1), a Super Wal-Mart, a Lowe’s Home Improvement Center, an upscale outlet mall, and plenty of other retail and office space. Combine all of this with what already exists in that area, including the growing community at Spring Creek, and Zion X Roads is sure to offer area residents a viable alternative to traveling into Charlottesville. It may also attract people out of Albemarle and away from the south side of Richmond, now wouldn’t that be a feat!
Time will tell how the development at Zion X Roads will affect the Charlottesville area, but one thing is for sure– it is an area whose time is long overdue.
[tags] Charlottesville, Fluvanna, Louisa, Virginia, Realtor, commercial development, Zion Crossroads, [/tags]
Charlottesville Real Estate Market Takes Big Hit in June
July 9, 2007 | Leave a Comment
It is time to take a look at the June sales statistics for the Charlottesville area real estate market. Overall, the stats did not look good. The drop in June sales compared to last year was significant in every geographical area, and the year-to-date stats reflect the drag that June created. Let’s take a look:
June 2007
June 2006
Breakdown:
June was a tough month for Charlottesville area real estate. Every geographic area posted major losses compared to June of 2006. Area sales were down 41% overall. Charlottesville was the big loser (-57%), Fluvanna and Nelson each saw a 43% drop in sales, and Albemarle and Greene each saw a 33% drop in sales.
News on the median home price was mixed for June. The area was way up (20%), but the median in Fluvanna and Greene Counties lagged behind that of a year ago.
YTD 2007
YTD 2006
Breakdown:
June was not a good month, and the year-to-date statistics reflect that. The Charlottesville area is now 23% behind the sales pace set in 2006. The hardest hit areas are Charlottesville and Greene, down 35% and 36% respectively. Fluvanna is down 19%, Nelson down 25%, and the lone bright spot (if you can call it that) is Albemarle County, which is down a relatively low 14%
While Albemarle might be leading the way in sales, it is falling behind in median home price. The median home price in Albemarle is down 5% compared to last year. Nelson County is the only other area where the median has fallen (-4%). The median in Charlottesville has risen 15%, probably due to the lack of low-price condo sales, which is the same reason for massive sales losses in the City. Fluvanna and Greene Counties have each posted modest gains in median home price of 5% and 6%, respectively.
I took a look back at the June stats that I posted one year ago, and June was a rough month in 2006 as well. If you are wondering why those stats are a bit different than the June 2006 stats I posted today, it is because not all of the closings had been entered into the MLS at the time of the publishing. That is why I now wait a week or two before posting the stats.
It appears that the downturn in the real estate market shows little sign of easing any time soon. Sales continue to fall, and inventory continues to rise. Hopefully, July will be able to provide a bit of a comeback after a June that was difficult to stomach by any standards.
Charlottesville Area Stats for May– Sales Lag, so Does Median Home Price
June 19, 2007 | 1 Comment
It is time to take a look at the sales statistics for the Charlottesville area for the month of May. Unfortunately, Wordpress is giving me problems with picture uploads, so I will do my best to convey the information without the use of fancy graphics. Hopefully I can have the issue resolved in time for the June stats.
May 2007
Overall, the Charlottesville area was down 21% in May compared to last year (308 sales v. 390 sales).
The biggest percentage drop was in Greene County. Greene county’s may sales were 73% lower than last year’s monthly total (13 v. 35).
The City of Charlottesville took the prize for biggest actual drop. The city saw a dip in sales of 37 closed transactions which was 37% lower than last year. My guess is that the lack of condo sales is largely responsible for the drop.
Every other area dipped as well, but the percentages were lower– Albemarle -6%, Fluvanna -10%, Nelson -40%. While Nelson County’s percentage drop was large, this number only represented 7 fewer closed transactions.
Year-to-Date 2007
So far this year, sales in the Charlottesville area are 17% lower than the pace set in 2006. Every individual area is lower as well– Albemarle -8%, Charlottesville -37%, Fluvanna -12%, Greene -37%, Nelson -21%
The most interesting thing to me is not the drop in sales, but the change in the median home price. The median home price for the entire area is down 1%.
The area median is being held down by Albemarle and Nelson Counties. The median home price in Albemarle has dropped 10% so far this year ($301,545 v. $336,718). The median in Nelson has dropped 15% ($260,000 v. $307,500). No matter how you look at it, that is significant. Albemarle has historically been a stellar performer in the area.
It is especially significant in light of the fact that the median for the year has increased in every other area– Charlottesville +11%, Fluvanna +10%, Greene +7%.
It will be interesting to monitor the median price as the year goes on. I fully expected overall sales to be lower this year, but if the median price drops, that would most certainly be headline-grabbing news.
[tags] real estate, realtor, charlottesville, virginia, home sales, housing statistics [/tags]
April Stats for Charlottesville Area Real Estate
May 16, 2007 | 1 Comment
It’s about that time once again. Time to check out the monthly real estate sales statistics for the Charlottesville area. Below are the monthly statistics for April and the year-to-date stats compared to 2006. Let us see what we can see:
April 2007
April 2006
YTD 2007
YTD 2006
Breakdown:
The more things change, the more they stay the same. Our market is continuing to change, but it is also continuing the pattern of declining sales that was established months ago. For the month of April, every area fell short of the marks set for monthly sales in 2006. The final tally: Albemarle -11%, Charlottesville -43%, Fluvanna -15%, Greene -8%, and Nelson -11%. Overall, the area saw 26% less sales in April 2007 compared to April 2006. As expected, the overall Days on Market (DOM) was up, although Fluvanna actually saw a drop in DOM for April.
For the year-to-date, the news is more of the same. Every area has seen a decrease in sales (Albemarle -14%, Charlottesville -26%, Fluvanna -14%, Greene -29%, Nelson -16%) and the Charlottesville area as a whole is 18% behind the pace set in 2006.
What I find even more intriguing than the sales numbers is the median home price. The median is down in all but two of the areas: Albemarle -10%, Charlottesville -6%, Fluvanna +9%, Greene +16%, and Nelson -33%. Overall, the area median home price has dropped by 4% so far this year. Obviously the year isn’t over, but there are going to have to be significant gains in order to see the area median come out ahead. The most surprising drop is in Albemarle, which is typically the strongest performer out of the bunch. A 10% drop in the median in Albemarle is significant.
A drop in the median is good for buyers. If, however, you bought a home a year ago and are unlucky enough to be forced to sell now, you may end up losing money. Even if you bought a home two years ago, you may be very lucky to break even. This is a reality that many are going to be very unwilling to face.
I’m not sure how many times I can say this, but it bears repeating: THE MARKET OF 2000-2005 IS NOT COMING BACK. To think that we are suddenly going to return to multiple offers and yearly appreciation of 15% is ridiculous. That does not mean, however, that the sky is falling. It simply means that it is time to face the realities of our current market, and act according to what is happening now– not what we wish would happen.
[tags] real estate, realtor, charlottesville, virginia, statistics, housings sales, fluvanna, albemarle, greene, nelson [/tags]
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Disclaimer
My name is Daniel Rothamel. I am a licensed real estate agent in the Commonwealth of Virginia and a member of the National Association of REALTORS. As such, I adhere to a strict code of ethics and all laws with regard to equal housing, which is reflected in the content of this blog. My broker is Strong Team REALTORS, 86 Joshua Lane, Palmyra, VA 22963; (434) 589-5800. My VA Real Estate License number is 0225 077325. All of the opinions in this blog are mine, unless otherwise noted.
