Orange

CAAR Year-End Market Report 2010

January 10, 2011 by Sasha C. Farmer, REALTOR ® · 2 Comments 

CAAR is releasing it’s 4th quarter market report tomorrow, so this is fresh off the presses!

Some pieces that I thought were relevant if you’re in the market to buy or sell;

Good news for buyers;

Price Per Square Foot (Finished)—Pockets of Value for Buyers

The current area average of $139 per finished square foot is the lowest number since 2004, indicating true “pockets of value” for buyers. Prices declined for the past four years—a $32 per square foot drop since peaking for buyers in 2006.

And as I’ve been saying for months;

Greg Slater, 2010 CAAR President cautions that, “until the inventory reaches and maintains level we consider historically level, there will continue to be uncertainty in predicting the pace of sales and stability of pricing.”

Take a look for yourself and let me know your thoughts.  I will be running my own numbers next week.

2010 Year-End CAAR Market Report

Local Utility Company Contact Information

July 10, 2010 by Sasha C. Farmer, REALTOR ® · Leave a Comment 

Orange County Homes for Sale

July 7, 2010 by Sasha C. Farmer, REALTOR ® · Leave a Comment 

Showing properties 1 - 50 of 74. See more Orange community real estate.
(all data current as of 2/9/2012)

1. $189,900 : 20035 Tabernacle Rd (orange), GORDONSVILLE (ORANGE)
   
   3 beds, 2 full baths

   Home size: 1,316 sq ft

   Lot size: 21,780 sq ft
2. $255,000 : 6072 Scuffletown Rd (orange), BARBOURSVILLE (ORANGE)
   
   2 beds, 2 full baths

   Home size: 3,198 sq ft

   Lot size: 1.35 ac
3. $149,900 : 17063 Cinder Ln, ORANGE (ORANGE)
   
   4 beds, 3 full baths

   Home size: 2,150 sq ft

   Lot size: 2.00 ac
4. $96,900 : 185 N Madison St (orange), ORANGE (ORANGE)
   
   3 beds, 2 full baths

   Home size: 1,784 sq ft
5. $399,900 : 20171 Lake Ridge Rd (orange), ORANGE (ORANGE)
   
   5 beds, 3 full baths

   Home size: 2,500 sq ft

   Lot size: 1.71 ac
6. $225,000 : 24171 Monrovia Rd (orange), ORANGE (ORANGE)
   
   3 beds, 3 full baths

   Home size: 2,496 sq ft

   Lot size: 4.35 ac
7. $149,898 : 3377 Flat Run (orange), LOCUST GROVE (ORANGE)
   
   4 beds, 3 full baths

   Home size: 2,128 sq ft

   Lot size: 3.35 ac
8. $144,500 : 511 Gentry Dr (orange), GORDONSVILLE (ORANGE)
   
   3 beds, 1 full, 1 part baths

   Home size: 1,740 sq ft

   Lot size: 13,068 sq ft
9. $1,545,000 : 17278 Lovers Ln (orange), GORDONSVILLE (ORANGE)
   
   4 beds, 2 full, 1 part baths

   Home size: 3,670 sq ft

   Lot size: 33.70 ac
10. $159,900 : 4586 Spotswood Trl (orange), BARBOURSVILLE (ORANGE)
    
    3 beds, 2 full baths

    Home size: 1,080 sq ft

    Lot size: 2.00 ac
11. $599,900 : 3 Harvest Ln (orange), BARBOURSVILLE (ORANGE)
    
    4 beds, 3 full baths

    Home size: 3,723 sq ft

    Lot size: 10.57 ac
12. $499,900 : 2 Harvest Ln (orange), BARBOURSVILLE (ORANGE)
    
    4 beds, 3 full baths

    Home size: 3,364 sq ft

    Lot size: 10.57 ac
13. $399,900 : 1 Harvest Ln (orange), BARBOURSVILLE (ORANGE)
    
    5 beds, 3 full baths

    Home size: 2,944 sq ft

    Lot size: 10.57 ac
14. $69,900 : 33286 Parker Rd (orange), LOCUST GROVE (ORANGE)
    
    3 beds, 2 full baths

    Home size: 1,568 sq ft

    Lot size: 43,560 sq ft
15. $269,900 : 18292 Justice Dr (orange), GORDONSVILLE (ORANGE)
    
    3 beds, 2 full, 1 part baths

    Home size: 2,038 sq ft

    Lot size: 2.00 ac
16. $190,000 : 105 Butler Cir, LOCUST GROVE (ORANGE)
    
    4 beds, 3 full, 1 part baths

    Home size: 1,654 sq ft

    Lot size: 14,766 sq ft
17. $799,000 : 11254 Tower Rd (orange), UNIONVILLE
    
    4 beds, 2 full, 1 part baths

    Home size: 5,200 sq ft

    Lot size: 64.24 ac
18. $169,990 : 189 W Main St (orange), ORANGE (ORANGE)
    
    4 beds, 2 full baths

    Home size: 2,700 sq ft

    Lot size: 10,890 sq ft
19. $298,500 : 19346 Briar Patch Dr, GORDONSVILLE (ORANGE)
    
    4 beds, 2 full, 1 part baths

    Home size: 2,724 sq ft

    Lot size: 1.55 ac
20. $850,000 : MLS # 493830 in UNIONVILLE
    
    3 beds, 2 full, 1 part baths

    Home size: 2,300 sq ft

    Lot size: 101.10 ac
21. $224,900 : 7174 Rapidan Rd (orange), RAPIDAN (ORANGE)
    
    4 beds, 2 full baths

    Home size: 2,517 sq ft

    Lot size: 3.00 ac
22. $349,900 : 15406 Hardwick Mountain Dr, GORDONSVILLE (ORANGE)
    
    4 beds, 3 full, 1 part baths

    Home size: 3,868 sq ft

    Lot size: 3.00 ac
23. $299,900 : 8391 Old Somerset Rd, SOMERSET(ORANGE)
    
    5 beds, 3 full, 1 part baths

    Home size: 4,400 sq ft

    Lot size: 43,560 sq ft
24. $170,000 : 512 Cadmus Dr (orange), GORDONSVILLE (ORANGE)
    
    3 beds, 2 full baths

    Home size: 1,380 sq ft

    Lot size: 14,287 sq ft
25. $195,000 : 105 Lee Ln (orange), GORDONSVILLE (ORANGE)
    
    3 beds, 2 full baths

    Home size: 1,550 sq ft

    Lot size: 10,890 sq ft
26. $224,900 : 9254 Constitution Hwy (orange), RHOADESVILLE
    
    4 beds, 2 full, 1 part baths

    Home size: 2,594 sq ft

    Lot size: 2.01 ac
27. $399,900 : 207 Red Hill Rd (orange), ORANGE (ORANGE)
    
    5 beds, 3 full, 1 part baths

    Home size: 4,165 sq ft

    Lot size: 2.20 ac
28. $174,777 : 27769 Old Office Rd, CULPEPER (ORANGE)
    
    3 beds, 2 full baths

    Home size: 1,884 sq ft

    Lot size: 2.49 ac
29. $175,000 : 223 Belleview Ave (orange), ORANGE (ORANGE)
    
    3 beds, 1 full bath

    Home size: 1,734 sq ft
30. $119,900 : 14321 Morningside Dr (orange), ORANGE (ORANGE)
    
    3 beds, 1 full bath

    Home size: 912 sq ft
31. $274,000 : 104 N Almond St, ORANGE (ORANGE)
    
    5 beds, 5 full, 1 part baths

    Home size: 3,352 sq ft
32. $279,000 : 317 N Main St (orange), GORDONSVILLE (ORANGE)
    
    3 beds, 2 full baths

    Home size: 2,089 sq ft

    Lot size: 6,969 sq ft
33. $379,900 : 16667 Mountain Track Rd, ORANGE (ORANGE)
    
    4 beds, 3 full baths

    Home size: 3,200 sq ft

    Lot size: 10.00 ac
34. $105,000 : 11183 Jacksontown Rd (orange), SOMERSET(ORANGE)
    
    3 beds, 1 full bath

    Home size: 1,128 sq ft

    Lot size: 40,075 sq ft
35. $260,000 : 15228 Burnley Rd (orange), BARBOURSVILLE (ORANGE)
    
    3 beds, 3 full baths

    Home size: 2,085 sq ft

    Lot size: 3.50 ac
36. $330,000 : 18102 Granch Dr, GORDONSVILLE (ORANGE)
    
    4 beds, 4 full baths

    Home size: 3,740 sq ft

    Lot size: 3.00 ac
37. $155,000 : 102 Cedar Ct (orange), GORDONSVILLE (ORANGE)
    
    3 beds, 2 full baths

    Home size: 1,290 sq ft

    Lot size: 8,712 sq ft
38. $995,000 : 9089 Liberty Mills Rd, SOMERSET(ORANGE)
    
    4 beds, 3 full baths

    Home size: 2,952 sq ft

    Lot size: 4.50 ac
39. $1,050,000 : 5674 Scuffletown Rd (orange), BARBOURSVILLE (ORANGE)
    
    5 beds, 4 full baths

    Home size: 3,429 sq ft

    Lot size: 71.65 ac
40. $229,900 : 4431 Burr Hill Rd, UNIONVILLE
    
    3 beds, 2 full baths

    Home size: 1,720 sq ft

    Lot size: 1.33 ac
41. $499,000 : 4465 Constitution Hwy (orange), BARBOURSVILLE (ORANGE)
    
    3 beds, 2 full baths

    Home size: 1,792 sq ft

    Lot size: 19.32 ac
42. $759,900 : 6094 Blue Run Rd (orange), SOMERSET(ORANGE)
    
    4 beds, 3 full, 1 part baths

    Home size: 4,371 sq ft

    Lot size: 96.74 ac
43. $374,900 : 15616 Burnley Rd (orange), BARBOURSVILLE (ORANGE)
    
    4 beds, 3 full baths

    Home size: 3,982 sq ft

    Lot size: 6.65 ac
44. $135,000 : 314 Harper Dr (orange), ORANGE (ORANGE)
    
    3 beds, 3 full, 1 part baths

    Home size: 1,894 sq ft

    Lot size: 2,221 sq ft
45. $218,000 : 12320 Mayhurst Ln, ORANGE (ORANGE)
    
    3 beds, 2 full, 1 part baths

    Home size: 2,159 sq ft

    Lot size: 1.26 ac
46. $99,000 : 14589 Harvey Rd (orange), BARBOURSVILLE (ORANGE)
    
    3 beds, 2 full baths

    Home size: 1,064 sq ft

    Lot size: 5.00 ac
47. $69,900 : 17473 Four Gate Ln, ORANGE (ORANGE)
    
    5 beds, 3 full baths

    Lot size: 5.39 ac
48. $455,000 : 19408 Lovers Ln (orange), GORDONSVILLE (ORANGE)
    
    4 beds, 3 full baths

    Home size: 4,536 sq ft

    Lot size: 3.39 ac
49. $29,900 : 320 Belleview Ave (orange), ORANGE (ORANGE)
    
    2 beds, 1 full bath
50. $185,000 : 198 Landon Ln (orange), ORANGE (ORANGE)
    
    3 beds, 1 full, 1 part baths

    Home size: 1,900 sq ft

    Lot size: 12,153 sq ft

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Just Released: The CAAR First Quarter Market Report!

April 12, 2010 by Sasha C. Farmer, REALTOR ® · Leave a Comment 

This was just released, so I wanted to give people the opportunity to check it out. I will be reading it over and making some comments soon!

2010 1st Qtr CAAR Market Report – members.pdf

Just Released! The Charlottesville Area Association of Realtors' Year-End Market Report

January 14, 2010 by Sasha C. Farmer, REALTOR ® · Leave a Comment 

The Charlottesville Area Association of Realtors has just released it’s Year End Market Report this morning, and it includes some very valuable information that home buyers and sellers should really be aware of.

Click here to download and read the full report. 2009 CAAR Year-End Market Report

I will be doing a more thorough analysis this weekend, but until then, some of the salient points…

Some people have suggested that the first time home buyer credit hasn’t been effective, but I have completely disagreed with that, and while this data isn’t a clear indicator that the credit is working, it would suggest that more first time buyers (in the below $300,000 price range) have been in our market in Q4 2009, than we are typically used to.

As reported for the past two quarterly reports, significantly lower home prices (down 20% or more) are driving the pick-up in sales. In addition, the $8,000 tax credit for first time buyers supercharged the sale of starter homes (below $300,000) in 2009. 67.5% of home sales for the year were in this starter home category, which is approximately a 10% increase in this category.

- CAAR Year End Market Report.

One thing to be aware of is the average price per square foot we’re seeing across the different counties. This is one of the more profound ways to see that our pricing has returned to that of 2005 levels (at least), if not gone lower. My personal belief is that our prices are actually closer to what they were in 2004. Take a look at the $/SF analysis below to see how your county has fared.

Price Per Square Foot (Finished)

Another indicator that allows us to see the decline in home prices is a major drop in the price per square foot numbers. The average price per square foot of finished space in homes is not a scientific number, but a downward trend over the years clearly indicates a decrease in prices (and vice versa). According to the chart below, prices peaked in 2006 and have declined for the past three years. There has been a $28 per square foot drop since the peak in 2006. The current $143 per square foot is the lowest number since 2004.

- CAAR Year End Market Report.

According to the CAAR Year End market Report, our inventory of homes is slowly declining. Of course this was the main aim of the First TIme Home Buyer tax credit, and we are all anxious to see what will happen to inventory once it expires.

Inventory of Homes for Sale

“The inventory of homes for sale in the Charlottesville has continued to decline very slowly. As we have reported for the past several quarters, the excess of inventory is causing many of the problems with our local housing market. The decline in inventory is very encouraging, but we will still have too many homes on the market for the current demand. This could change very quickly going into the busy spring market.”

- CAAR Year End Market Report.

Average Days on Market

One piece of information that I always want future sellers to be acutely aware of is the average days on market. The days on market is a measure of homes SOLD BY AN AGENT THROUGH THE MLS, and how long they’re taken on the market being actively marketed before they have sold. This number does not include some very high days on market numbers for all of the homes that never sell, it only calculated DOM for solds, so it is artificially lower than days on market of ALL HOMES. If you are thinking of selling your home in the near future, you need to be acutely aware of the average days on market for your county and be sure to give your real estate agent a reasonable amount of time to accomplish your goals.

Will be elaborating more on this report later, but would love some questions from all of you!

New Tax Credit for Current Home Owner's Making a Home Purchase and the Extended First Time Buyer Credit

November 7, 2009 by Sasha C. Farmer, REALTOR ® · Leave a Comment 

Today, President Obama signed off on the Extended Home Buyer Tax Credit, now to include a credit for current Home Owners.

This new initiative will continue the current $8,000 first time home buyer credit to eligible participants until 2010- July 1, 2010 to be exact, which is when all closings must have occurred. In order to be eligible for this credit, you must have the property under contract no later than April 30, 2010.

It has also expanded the credit to current home owners. Anyone who has used their residence as a primary residence consecutively for 5 our of the last 8 years are also eligible for a tax credit when making their next home purchase. This is a $6,500 credit and the same deadlines still apply; April 30, 2010 for homes to be under contract, and July 1, 2010 for the sale to have closed.

Many of the details are explained in the following PDF document- please contact me with any specific questions!

Click here to download the November 7, 2010 Extended and Expanded Tax Credit.

CAAR Releases it's Third Quarter Market Report

October 18, 2009 by Sasha C. Farmer, REALTOR ® · Leave a Comment 

The Charlottesville Association of Realtors’ Third Quarter Market Report has just been released and it definitely contains some interesting data.  As we all know, we still have much more inventory than we can absorb with the current number of Purchasers in the market.

Check out the market report here;

CAAR Third Quarter Market Report