Year End Market Report for Central Virginia

The Charlottesville Area Association of REALTORs has just released its year end report for 2013 and as expected, the numbers were encouraging.  The number of home sales in the area increased by 10% and median sales price was 6.1% higher than 2012.

CAAR YEAR End market Report

Year End Highlights

Montague Miller & Company is ideally positioned to serve all of the local markets in Central Virginia.  With offices in Culpeper, Madison, Orange,  in Charlottesville, and in Amherst ,our agents can and do specialize in their market area.  Our Montague Miller and Company web site features monthly reports on Fluvanna, Louisa, Culpeper, Orange, Albemarle, Charlottesville, Greene, and  Nelson Counties. You may depend on us for information which is updated the 10th of each month.

Regional Market Reports

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Why a Tenant Background Check Is So Important.

Great article this morning in Realty Times. A good property manager is always looking for a “good tenant” and different landlords are looking for different criteria but what are the main attributes of a good tenant?  Our Rental Division at Montague Miller & Company serves many different landlord-clients, all of whom are looking for tenants who have the ability to pay the rent and pay it on time, and tenants who use the property “gently”.

A full tenant background check including a credit check and a criminal background check is a must.  Read the full story.

Realty Times Article. 1/6/2014

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What will Home Prices Look Like in 5 Years?

Steve Harney, author of Keeping Current Matters, often shares interesting reports in his monthly newsletter. In the November edition he poses the question, “What will home prices be like in 5 years?”  Pulsenomics reports on home prices every quarter in their expectation survey.  The survey asks over 100 economists , investors, and real estate professionals what prices will look like in 5 years.  Take a look at the charts below.  The Boom to Bust to NORMAL chart is what I expect to be our local trend.  We expect Central Virginia to return to a rate of appreciation between 3-5% a year.

Boom to Bust to NORMAL

Pulsenomics predictors

Interst Rates are a Big Factor

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And The Farmer’s Almanac Says….?

With our first winter weather on the way I turned to the tried and true weather source, The Old Farmer’s Almanac, for a prediction of the weather for winter 2013-2014. After all, it is North America’s oldest continuously published periodical-so they must be right,  The almanac was first published in 1792 and it is said their reports are 80% accurate.  I am not sure how that number is calculated, nor am I sure how they make their predictions-but I always like to hear what they have to say.  (Maybe because my father is an “Old Farmer”)

The Almanac says:  Get ready for colder than usual and more precipitation.  We shall see.  If you don’t believe in the Farmer’ Almanac then wait because Groundhog Day is coming.

The Old Farmer's Almanac

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Ghost Houses? Fact or Fiction?

Halloween is upon us once again and as they say, “I don’t believe in Ghosts but I sure am afraid of them.”  Believe it or not, Virginia does not permit its real estate licensees to discuss whether a house is haunted.  Word that a house is haunted could stigmatize it and reduce the value.  Or maybe it would increase the value? In a Continuing Education class I met a broker whose client insisted the house was haunted and instructed him to have Open house from Midnight to 3am! Happy Halloween.  Want to enjoy more REALTOR Ghost Stories?  Keep Reading.

REALTOR Ghost Stories

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Charlottesville Real Estate Market Report for 3rd Quarter

Charlottesville Real Estate Market Report for 3rd Quarter

Charlottesville Real Estate Market Report for 3rd Quarter

Overall sales in the Greater Charlottesville area were up over 25% over the same quarter last year and represented the highest 3rd quarter sales total since 2007.

Median sales price of $267,612 in the 3rd quarter was up 11.6% from third quarter 2013, the highest yr over yr price gain of any quarter since 2007.

Half of homes sold in third quarter 2013 were on the market 46 days or fewer, a 24 day improvement over the median day on market, down from 70 days in Q3 last year.

Click here for the full report: http://www.caar.com/docs/market-report/caar-3q2013memberexpandededition.pdf

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Consider a Career in Real Estate

The market continues to improve and as it does we begin to hear from men and women who are considering real estate as their career. Many of the best agents came to real estate as a second career.  Consider this-The National Association of REALTORs reports that the average age of Brokers is 59.  It is obvious that the leadership of the industry is “greying”. With that in mind, why not consider real estate as your primary career.  There is room at the top and this seems to be a good time to begin.

What is important about beginning in real estate?  I am prejudiced, naturally, but think you need to affiliate with a great teaching firm.  A mentor and coach with experience in all markets will make a big difference to you.

What sort of candidates do well in our business?  Are you good at working with people, have good communication skills?  Are you able to work independently, are you motivated to do well?

Would you like to learn more?  Call me.

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Montague Miller & Co Fall Portfolio of Homes



Montague Miller & Co presents our 2013 Fall Portfolio of homes for sale in Charlottesville VA Homes, farms and estates, in Albemarle, Charlottesville, Greene, Orange, Amherst, Madison, Culpeper, Louisa, Nelson and Augusta featuring some of the finest homes for sale in our area.

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What Draws a Family to Buy a Home?

In an article posted on the Keeping Current Matters Blog site, September9,2013 the KCM Crew writes Why American Families Buy a Home. We all have our own reasons for wanting to own a home. Some of us enjoy the “control” piece of owning your own space and being able to do as you will.  Many of us have enjoyed the “investment/appreciation” factor of home ownership. Granted, some have not done well financially, but the majority of long term homeowners will do well.

What do you suppose is the number one draw for a family to buy a home?  According to the Keeping Current Matters crew, the top reason for home ownership is to own the place where they raise their family.

Read more:

Top Reasons Why American Families Buy Homes

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4-H Cattle Shows, a Wonderful Part of Summer

August makes me think about summers which rolled by all too fast; summers spent getting ready for the county fair or the state fair.  When I say getting ready- I mean competing in the 4-H cattle shows, or perhaps in shows sponsored by the Virginia Angus Association.  I grew up on a cattle farm where pure bred Angus cattle were bred,raised, and sometimes taken out on the show circuit.

As an 8 year old I had my first 4-H steer project.  We had a project book to keep which kept track of costs of care for the animal and schedules for working with the steer to break him to halter and so forth.  The record keeping was pretty detailed and I have often thought that what I learned in 4-H has been important to me all my life.  We were taught public speaking, how to make presentations, and certainly learned a lot about being responsible.

My first steer was named “Bonanza” and after months of  work we were ready for the county fair.  We did pretty well until my steer decided to lie down and roll in the saw dust.  I could see my Dad waving his arms to “GET HIM UP”.  I did, and with big ole tears still streaming down my face, I got him up.  Bonanza won the blue ribbon that day.

The kids working now with their summer projects will learn a great deal, too. The Albemarle County 4-H helps children and their families with all sorts of livestock projects.  You can raise lambs, pigs, chicken-just about any farm animal.  It is a wonderful part of growing up in the country.

http://1.bp.blogspot.com/-_LAfyQMlj20/Uf-fD0trs2I/AAAAAAAAHi4/2EEtGr49dlg/s640/2013+Indy+State+Fair+-+Xbred+Steer+Class+2+Winner.jpg

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