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Feature
RE/MAX
Cornerstone Realty
Outstanding Agents. Outstanding Results.
Nestled on a large country plot in desirable Somerset, VA where you can escape the noise, hustle & bustle of everyday life. Privacy & seclusion are yours–a tar & chip driveway is approximately 1.5 miles long-on this 96+ acres that is in conservation easement w/a 4 Bedroom 3.5 Bath Georgian Colonial with approximately 4500 finished square feet. Built on highest point of acreage offering 360 degree winter mountain views & with some additional clearing, could offer spectacular mountain views from the front of the home. Approximately 30 acres are fenced with 12-15 acres of pasture. A 5-car garage, approximately 70’x30’, features an unfinished apartment on upper level – framed, rough electrical & plumbing with bath, kitchen, living room and bedroom – with completion, this would make a great studio, home office or caretaker’s apartment. Additional 1-car garage with workshop that has electric, water & woodstove. Other amenities include a barn, fencing & automatic watering system for livestock. Within 30 minutes to Charlottesville MLS # 491633. $719,000
what is required to be a good landlord before you jump in. Richards said it is not uncommon for investors to be empty nesters with disposable income looking to diversify their portfolios. These are the folks who can get loans for investment properties because over the years they have established the kind of credit scores and acquired the depth of assets needed to qualify. The main question we want to answer when qualifying a borrower, he said, is “can they handle the bumps in the road? A solid set of assets and an excellent credit score are not things you acquire over night,� he explained. When a borrower has these in place, they are more likely to be considered a good risk.
the higher than average foreclosure rate means there are a whole class of people who are unable to purchase a home and are forced to rent. At the same time, the condo market is complicated by tighter Fannie Mae, Freddie Mac rules which make loans for these units a lot harder to obtain than they once were. This means people who may have purchased a condo in the past may be more inclined to rent today.
Charlottesville’s Rental Market
money owning rental property, but it can be a real headache.� A big part of this headache is learning how to choose good tenants. Ramsey expressed similar sentiments when he said that he advises about 50 percent of the people who express interest in purchasing rental property to give serious thought to putting their money elsewhere. The reason is “not everyone can be a landlord.� It takes someone who is willing to research rental prospects carefully and recognize who is and isn’t a good
Property Management Before you decide to start acquiring rental property, consider whether you are cut out to be a property manager. “After 30+ years in the real estate business,� said McVay, “I always tell clients that you can make good
Shannon G. Hudson
Virginia Licensed Associate Broker
ABRŽ, ASPŽ, CDPEŠ, SFRŽ, Registered HUD Agent
CAAR Real Estate Weekly | celebrating 20 years 1992-2012
540.661.2083 Direct • 540.972.1777 Office shudson.remax.com
Early “Tee� Time Proves Valuable for Developers! Heart of Louisa County on Tanyard Golf Course! MLS# 492770
16+/- Acres
High Density Division Rights • Water & Sewer already on Site • 2 Road Access Points • Centrally Located between Richmond & Charlottesville • Various Available Tax Credits
People choosing to purchase investment property should be confident in the stability of the rental market. According to Ramsey, today Charlottesville’s market is what he calls “pocketed.� However, “in general, rents have remained strong through the recession,� he added. A number of factors contribute to the strength of our local rental market. In addition to the demand for properties around the University,
Excellent Opportunity to Develop: SR Living Community; Duplex’s; Town Homes; Single Family Homes with Larger Lots; Apartments High Density Living; OR SUP Commercial mixed with Residential!
$1,200,000
Candice van der Linde 434-981-8730
candice.vanderlinde@gmail.com
161 AVON ROAd • AFTON !UTHENTIC 6! FARM HOUSE WITH LARGE RENOVATED BUILDING FOR BUSINESS OR STUDIO COULD EASILY BECOME A ND HOME ,ARGE OLD UNRENOVATED BARN FORMERLY A BAR REL STAVE FACTORY &RONTS ON TWO ROADS INCLUDING TO 7INTERGREEN ,OVELY SETTING WITH MOUNTAIN VIEWS CONVENIENT TO SHOPPING MEDICAL SERVIC ES -,3
603 ALTAVISTA AVENuE • bELmONT GREAT CHANCE TO LIVE IN "ELMONT IN THE MAIN HOUSE WHILE ENJOYING THE INCOME FROM A SEPARATE APT AND A DETACHED COTTAGE )N THE HOUSE AND COT TAGE WERE FULLY RENOVATED BY #LASS ! CONTRAC TOR INCLUDING TOTAL REDO OF KITCHENS BATHS PLUMBING (6!# "ACK YARD HAS PRIVACY FENCE -,3
Yates Nobles
Associate Broker,
GRI, ABR, SRS, e-Pro, GREEN
434.996.0888 cell
yates@yatesnobles.com w www.yatesnobles.com