Real Estate Information Archive

Information below from:  www.VirginiaDOT.org

Project Purpose

Rehabilitation of the structurally deficient and functionally obsolete Route 250 bridge over the Buckingham Branch Railroad at Shadwell, east of Charlottesville.

The existing concrete bridge, which was built in 1939, is significantly deteriorated. The maximum weight limit for vehicles using the bridge was reduced to 15 tons in March 2011 due to its poor condition. The center turn lane has also been closed because the deck is deteriorated in that area. Most fire equipment and large commercial vehicles are not able to cross the bridge because of the weight restriction.

The bridge now carries approximately 15,000 vehicles per day. 

Road Closure and Detour

Route 250 will be closed to through traffic on both sides of the bridge while the superstructure and deck are replaced. This work is scheduled for a 10-week period beginning May 1. 

Access to all commercial and private entrances near the bridge will be maintained during the closure. Route 22 (Louisa Road) and Route 729 (North Milton Road) will also remain open during the bridge closure.

During the closure traffic that normally uses Route 250 in the Shadwell area will be detoured off Route 250 using Interstate 64 between Exit 124, Route 250 (Richmond Road) at Pantops Mountain and Exit 129, Route 616 (Black Cat Road).

​Full Article HERE

Two articles caught my attention this morning including one from Mr. Steve Harney's "Keeping Current Matters" Blog and an article by well respected Yale economics professor, Mr. Robert Shiller of the Case-Shiller Index.  Mr. Harney's post was entitled, "Further Proof the Real Estate Market is Coming Back" and can be read HERE.  Mr. Shiller's comments were reported in the Chicago Tribune on April 24th and can be read HERE.

The KCM Blog reports, "​Last week, the National Association of Realtors (NAR)  released their Pending Sales Report which showed that contracted sales were 12.8% higher than the same month last year and higher than any time since sales were impacted by the Homebuyers' Credit back in April of 2010.  The index stood at 101.4 which represents a level that is historically healthy."  

The Pending Sales Report is welcomed news.  However, before we get excited that indications are showing coming appreciation Mr. Shiller predicts that the housing market "is likely to remain weak and may take a generation or more to rebound."  His reasoning consists of "a weak labor market, high gas prices and a general sense of unease among consumers was out weighing low mortgage rates and would likely keep a lid on prices for the foreseeable future."  

There are more and more headlines reporting on the housing market showing signs of improvement and stabilization.  As things stand at the present I can't help but to think Mr. Shiller is spot on in predicting stabilization but no great deal of appreciation for the foreseeable future.  Perhaps this means Americans will return to purchasing homes as a place to raise a family, host family and friends, to personally enjoy, etc. verses purchasing a home to be a cash cow.  

It's that time of year again!  A Charlottesville favorite that we look forward to all year is back...
Fridays After Five at the nTelos Wireless Pavilion on the Downtown Mall.  Work hard all week and look forward to hanging out with your favorite people all while enjoying good music at a fantastic venue.

HERE is this year's first half schedule of bands.

See You There!!

At our weekly team meeting this morning we watched and then discussed this month's edition of Steve Harney's "Keeping Current Matters."  Mr. Harney does an impressive job of researching the national headlines pertaining to the housing market every month and then compiling them into one very detailed presentation.  In this month's report it is apparent that more and more economist, analysts, etc. are using words such as rebound and stabilization for the national housing market (note:  these include professionals not associated with the National Association of Realtors).  Below are three slides that caught my attention.  The widely respected Case-Shiller Pricing Index shows we have returned to 2003 prices.  However, many are predicting that starting next year we will begin to see slight appreciation in housing prices.  The unknown remains what degree of impact will distressed properties (foreclosure/short-sales) have on this year's market and will that inventory carry over into next year?  Naturally, our national market can't have a rebound until we cycle through those properties.  Thankfully, here in Charlottesville we have not been impacted by distressed listings like other localities.  Recognizing we are not out of the water just yet I am optimistic based on CAAR's 1st Quarter Market Report and what I am reading in the national headlines that we are heading in the right direction.            

The Charlottesville Area Association of REALTORS (CAAR) released today the 2012 1st Quarter Market Report.  Click HERE for the comprehensive report.  Highlights include:

• Median sales price for Greater Charlottesville is down 2.7% from Q1-2011 to $230,000
• Overall sales in the region are up 9.2% over the first quarter last year.
• Homes sold eight days faster on average compared to Q1-2011, down to 167 days on market (DOM) from 175.
• Top three areas for sales in Q1-2012 were Albemarle, Charlottesville and Fluvanna counties.

We are seeing signs of market stabilization and improvement; however, I am holding my breath as we will continue to have to closely monitor the conditions of the overall economy and consumer confidence along with how we fare locally this year with distressed (foreclosure/short-sale) properties.  

Sellers, realistic pricing and proper staging are the key elements needed in this market to successfully sell a property.  Buyers, market conditions continue to favor you in a very big way!  If you are thinking of buying...don't let what I feel is a historical purchasing opportunity pass you by!   

Looking for a great system to find homes in Charlottesville and its surrounding Counties?  
HERE you go!  

Also, don't forget to set up an automated search that will send you new listings that match your search criteria 24 hours after they are posted to the MLS.

​Questions about any of the properties?  Need contacts for financing?  Want to discuss stepping up your home search?  Contact me and let's get started! 

Had fun showing some property out in Western Albemarle this morning and was reminded driving by Beaver Creek Park what a great area we have to call home...fortunate to be able to enjoy so many awesome parks and beautiful views!

Looking for some fun things to do around Charlottesville this weekend?  HERE is a list of some scheduled events.  We are looking forward to taking our daughter to the "Curious George:  Follow the Monkey!" event on the downtown mall complete with a parade and moving screening at the Paramount.  

Make it a great weekend everyone!

Sean Tubbs with Charlottesville Tomorrow reports:

"The Redfields Development Corp. has filed a lawsuit against the Albemarle County Board of Supervisors for denying a request to expand the neighborhood. 

Map from the developer depicting the many phases of Redfields. The area requested for rezoning is in the southwest

corner

Developer Gaylon Beights had sought to build 126 homes on a portion of the land.

Congratulations to Mike and Ghizlaine Taft on the opening of their new Carribean inspired restaurant Calypso.  Located at 1709 Emmett Street, Calypso offers casual Caribbean dining at an affordable price.  PLUS a drive-thru for coffee and goodies from the bakery!  Join them for a traditional Jamaican and Salvadoran meal accented with music, smiles and fun.  Calypso has daily Happy Hour specials, karaoke on Thursday nights as well as their U Street Jazz Series on Friday and Saturday nights.  To-go orders and reservations are available by calling 434-977-CAFE.

The Tafts completely transformed what was a bank building for years and most recently a local real estate office into a lovely, warm and inviting dining area.  They have a reputation for being very successful in their business ventures and I feel confident Calyspo will prove no different.  

Congratulations and best wishes Mike and Ghizlaine!!