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VOL. 30 NO. 20 n MAY 19 - 25, 2021

A P U B L I C AT I O N O F T H E C H A R L O T T E S V I L L E A R E A A S S O C I AT I O N O F R E A LT O R S ®

FREE

A PUBLICATION OF THE CHARLOTTESVILLE AREA ASSOCIATION OF REALTORS®

Hot

Charlottesville Albemarle, Fluvanna, Greene, Louisa, Madison, Nelson, Orange, Augusta

Housing Market

Calls for

Smart Financing BY CARLA HUCKABEE


NOW IS THE TIME TO SELL!

MAY 19 - 25, 2021 ISSUE 3020

2

3 DAYS SOLD IN ASKING E V O AB PRICE!

UNDER T C CONTRA

UNDER T, C CONTRATHER

O BUT AN WAY! HE T N O IS

2122 AVINITY LOOP

3940 GILMERS MILL LANE

316 STARCREST ROAD

Beautifully upgraded home in desirable Avinity. Country living just 20 minutes from CharlottesWonderful home in the sought after Mill Creek Quality & upgrades exceed newer construction ville! The 11+ acres has it all. Enjoy the two South neighborhood. First floor living is showoptions. Your new home welcomes you into the acre stocked pond, walk through the woods, cased with the open concept connecting the foyerthen head down the hall to a large room & use the pasture for your horses, goats, other kitchen,dining area, and living room. Enjoy custom with brick focus wall & attached bath. livestock, or as a large fenced yard. Three stall cooking in your updated kitchen with huge isThis room is a perfect guest suite, rec room, or barn & run-in shed waiting for you. Walk into land. The large master suite has a walk-in closet home office. The garage hasplenty of space for the main floor of the house to find your beautiful and attached bath. The laundry caps off the a car & storage in front. The main level with an kitchen with tons of cabinets & counter space first floor. Head upstairs to find three additional open concept allows natural light & real hardto entertain. On that level, you’ll also find your bedrooms and full bath. Head downstairs to wood floors to flow throughout. Your kitchen is large master suite. Upstairs is a second bedthe finished, walkout basement which is a rare madefor a chef with gas range, upgraded cabroom, full bath, & loft looking down onto the livfind in the neighborhood. The large combinainets, granite countertops, & tile backsplash. ing room. Head to the downstairs to appreciate tion room has plenty of room to create several Pull up a stool to the big island. The living the flexibility of the house. Currently used as a living spaces like a home office, rec room, and room is large with gas fireplace. Don’tmiss separate two bedroom apartment with full kitcheven a guest suite with the full bath. The view the wine bar which is perfect for entertaining. en or you can use the terrace level as an adfrom the back deck is the wonderful fencedSunday 1-3 pm Step outside to your private back patio. Plenty ditional family room, bedroom, & office. There in lawn and a wooded common area to give of room to grill & enjoy the mountain1544 views. are tons ofCt options to enjoy the peace & quiet Loop more privacy than expected in a neighborhood. 2808 Magnolia Dr 2142 Avinity Sawgrass MLS# 616143 $415,000 $475,000 615586 $420,000 Peace & tranquility less than 15 minutes from Beautifully upgraded 4 BR townhouseMLS# w/mountain Complete 1st floor living,MLS# lg MBR 615511 & BA w/laundry.

Price Drop!

Under Contract

Hardwoods on main floor. Gourmet kitchen & loft

434.305.0361 open to LR. Outside patio. $410,000 paulmcartor.montaguemiller.com/575169 pdmcartor@gmail.com

!

2357 Middle River Rd

views! Open floorplan, perfect for entertaining with private patio. $365,000

Downtown! Enjoy this wonderful house on over an acre with beautiful mature trees. $469,900

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434.305.0361

pdmcartor@gmail.com HONORABLE MENTION

e w L is ti n g NBUYERS

& SELLERS CALL ME TODAY!

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Best of Cville Real Estate Agents in 2016 & 2017, and a Finalist in 2018

GE T YO UR HO M E SO LD HE RE !

Best of Cville Real Estate Agents in 2016 & 2017!

Under inventory is low and buyers are in the market. If you have thought about selling, now may be the perfect time. Contact me now to explore your options! Come enjoy the peace and tranquility of your own lake front retreat! Single floor living home includes both MB & laundry on the main floor. $240,000

Buyers & Sellers!

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Open House

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LISTED, UNDER CONTRACT & SOLD! paulmcartor.montaguemiller.com

Emerson

Price Drop! 920 GARDENS BLVD #200 CHARLOTTESVILLE, VA 22901 WWW.AVENUEREALTYGROUP.COM

4161 Presidents Rd

Country living 15 minutes of Downtown & within Albemarle County. This single floor home has beautifully updated kitchen & bathrooms. $260,000

63 Soapstone Ln

Here’s your chance to live in a 1906 farmhouse with all the style and character while enjoying the conveniences of a modern home. $130,000

FOR SALE: 843 Stargazer Lane, Crozet paulmcartor.montaguemiller.com/578197

paulmcartor.montaguemiller.com/572219

COMMONS

CAAR REAL ESTATE WEEKLY WWW.CAAR.COM

Based on the Danish model of cohousing Privately-owned homes | Central green spaces First all-solar community in Virginia

At Emerson Commons in Crozet, we have designed a pedestrian-oriented neighborhood where we cross paths with each other often. We can easily take the time to stop and chat. A beautiful club house allows us to have potlucks and neighborhood events together. Neighbors co-manage the community and meet each other that way. A beautiful pool, walking trails by a creek, and multiple playgrounds give us further excuses to connect with our neighbors.

• • • • • •

Contact us at info@sheeflee.com or 540-250-3261 to arrange a tour.

NEW 5/21 $462K 4BR, 3BA 2417 sq. ft. Solar panels Backyard facing the woods and creek


3

Thinking of selling your house this year, call me.

MAY 19 - 25, 2021 ISSUE 3020

EAN FAULCONER INC. MCLFarm, Estate and Residential Brokers

BURNLEY STATION ROAD

A serene setting with peace and quiet, yet only 10 minutes to Hollymead Town Center. Set on a knoll in northern Albemarle, this French Country home offers one floor living. Beautiful rear terrace with large boxwoods. A split bedroom plan features a large master bedroom with 2 full baths. Detached garage with room for storage as well as a large attic. $545,000

UNIVERSITY CIRCLE

Unique opportunity in the best University location. Over a half acre lot. Bright clean residence with 3 bedrooms, 2 full baths, hardwood floors, great room, dining room and eat-in kitchen. Property also offers 2, one bedroom apartments on the terrace level. Large deck. Lots of off street parking! $850,000

REDBUD LANE

Unique, contemporary tri-level home. Set on 2 acres with beautiful trees and mature landscaping. Home features; 3 bedrooms, 2 full bathrooms, dining room, 2 decks, paved driveway and a 500 sq. ft. carport. $435,000

CALL SHARON

Over 25 years of Real Estate experience. email: callsharon.today@yahoo.com cell: 434.981.7200 WWW.MCLEANFAULCONER.COM

CAAR REAL ESTATE WEEKLY WWW.CAAR.COM

503 Faulconer Drive Charlottesville ∙ VA ∙ 22903 p: 434.295.1131 f: 434293.7377 e: homes@mcleanfaulconer.com


MAY 19 - 25, 2021 ISSUE 3020

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YOUR PLACE. OUR PURPOSE.

Lovingston Winery | Nelson County

105 Finders Way | Charlottesville

Nestled into 65 acres of rolling hills in central Nelson Co, this successful vineyard has a proven track record of producing award-winning and highly rated wines. With 11 acres of vines, a 4000 square foot production facility, and 3 renovated homes, the property has limitless possibilities.

Occupying an idyllic wooded hillside setting just outside Charlottesville, this 4 BR, 3.5 BA home has a new kitchen and wet bar, new cedar shake roof, updated screened porch, new whole-house generator, and extensive landscaping. Farmington location, western Albemarle schools, minutes to Barracks Rd. $1,095,000 | montaguemiller.com/616588

$2,490,000 | cartermontague.com/607769 Carter Montague | 434.962.3419

838 Village Rd | Charlottesville

lot 11 Langdon Woods Dr | Albemarle

Black Angus Farm | Scottsville

Prime location, just moments from UVA & downtown, this pristine Arts & Crafts style home offers a wonderful balance of location, style, and space. 5 BR, 4.5 BA home w/fenced back yard with plenty of space for play and outdoor living.

Proposed custom home to be built by European Homes of Albemarle on this beautiful lot in northern Albemarle County. Superior quality finishes including gleaming hardwood floor, custom Cabinetry, 9 ft ceiling and much more.

Enjoy total peace and privacy at Black Angus Farm in southern Albemarle overlooking the James River. Located at the end of a quiet country lane, the 66 acres includes elevated pasture and mature forest.4BR, 3.5 BA farmhouse.

$797,000 | montaguemiller.com/616583 Anita Dunbar | 434.981.1421

$850,000 | montaguemiller.com/617300 Anita Dunbar | 434.981.1421

630 Windrift Dr | Earlysville Desirable neighborhood of Windrift in Earlysville. Home sits atop a knoll with mountain views. Large backyard with fenced tennis court, deck & storage shed. 4 BR, 3 BA. Large bedroom and full bath in walk out basement. CAAR REAL ESTATE WEEKLY WWW.CAAR.COM

Carter Montague | 434.962.3419

$364,900 | montaguemiller.com/616129 Douglas Burke | 434.951.7122

$725,000 | montaguemiller.com/612597 Carter Montague | 434.962.3419

3848 Zion Rd | T roy

2389 N Boston Rd | Troy

Calling Investors, Three Houses sold together. 3830 Zion Rd, 3848 Zion Rd & 3864 Zion Rd, Troy VA. All homes are currently tenant occupied. Each home has 2 BRs, 1 BA, kitchen and living room, each on 1.09 acre lot.

One level living on 2 acres with no HOA fees! This charming home offers a cozy sitting room with hardwood floors & large picture window. Updates include new floors in kitchen & new doors to freshly painted deck.

$419,000 | montaguemiller.com/616760 Kyle Olson | 540.649.4131

$229,900 | montaguemiller.com/616095 New Leaf Team | 434.962.4740

Whether you're buying or selling a home, locally or globally, searching for investment opportunities or just have questions, we're here to help. At Montague, Miller & Co., we take pride in our ability to educate and guide our clients to successful outcomes through professionalism and honest counsel. MONTAGUEMILLER.COM | 800.793.5393 | CHARLOTTESVILLE | MADISON | CULPEPER | ORANGE | AMHERST/NELSON

As a three generation family company, we’ve been serving Central Virginia’s real estate needs for over seventy years!


5

Listing Solution

Viewer

List your home with me and receive property photos, a 3D immersive tour and accurate floor plans, using the newest technology.

CAAR REAL ESTATE WEEKLY

NEWS & VIEWS Habitat for Humanity Celebrates Four New Homeowners on Nassau Street

WTJU 91.1 FM to Receive $20,000 Grant from the National Endowment for the Arts

Habitat for Humanity of greater Charlottesville recently celebrated four families purchasing affordable homes on Nassau Street. The dedication ceremony, at Rives Park, honored these homebuyers who contributed over one thousand hours of sweat equity and completed Habitat’s homebuyer education and financial counseling curriculum to prepare for the purchase of their new Habitat homes. Consisting of both long-time residents of Charlottesville and families who immigrated to Charlottesville, these new neighbors are united in their shared pursuit of something safer and more stable for themselves, and their children. For the six adults and 14 children moving in, their home on Nassau Street is a dream come true. Kizzy Walker, a single mom of three purchasing one of the Nassau Street homes shares, “Charlottesville is my home, this is where I grew up. I want to stay… and the best way to guarantee that is if we have a safe, stable and affordable place to call our own.” Habitat began construction on the Nassau duplexes in the Belmont/Carlton neighborhood of Charlottesville in 2019. Despite construction setbacks amidst the Covid-19 pandemic, the homebuyers, Habitat staff, and volunteers were determined to get the job done. “The commitment and perseverance of these four families is inspiring,” says Dan Rosensweig, President and CEO of Habitat. “Amidst many of the most unforeseen circumstances to date, they remained committed to these homes and, more so, to each other. They truly embodied what it means to be in partnership with Habitat, and with the Habitat families they call their neighbors.”

WTJU 91.1 FM has been approved for a $20,000 Arts Education grant to support the development of an online jazz history curriculum. Adapted from WTJU’s Jazz at 100 radio series, this project will creatively engage students around the unique story and passion of jazz music. WTJU’s project is among the more than 1,100 projects across America totaling nearly $27 million that were selected during this second round of Grants for Arts Projects fiscal year 2021 funding. “As the country and the arts sector begin to imagine returning to a postpandemic world, the National Endowment for the Arts is proud to announce funding that will help arts organizations such as WTJU engage fully with partners and audiences,” said NEA Acting Chairman Ann Eilers. WTJU’s program Jazz at 100, hosted by Rus Perry, has traced the history of recorded jazz through 100 one-hour episodes that have aired on dozens of public and community radio stations. Both this show and its successor program Jazz at 100 Today are available for syndication through the Public Radio Exchange (PRX) and WTJU.net/jazz100. This project will adapt the Jazz at 100 research and audio recordings into a dynamic and engaging online curriculum primarily targeted toward high school and first-year college students. “While many other resources exist for jazz history and online videos of jazz recordings proliferate, there is no freely available, comprehensive, online jazz history course specifically designed to meet the educational needs of America’s schools,” said Nathan Moore, General Manager of WTJU. “We’re going to design this to be far more interesting and creative than a typical textbook with companion recordings.” For more information on the projects included in the Arts Endowment, visit arts.gov/news. WTJU 91.1 FM has been part of the University of Virginia since its first broadcast in 1957. WTJU is a community radio station that enriches the culture of Virginia, extends the educational mission of UVA, and brings people together through excellent music and conversation.

Whether you’re buying or selling a home, locally or globally, searching for investment opportunities or just have questions, I’m here to help.

Peter McFarren REALTOR®

202.341.4422 petermcfarren@gmail.com

PeterMcFarrenRealtor.com

500 Westfield Rd. Charlottesville, VA

Annie Gould Gallery

A unique art gallery located in the heart of historic Gordonsville. 109 S. Main Street, Gordonsville, VA • (540) 832-6352 anniegouldgallery

Got News? Send your newsworthy submisssions to editor@caarrew.com No PDFs please only text files will be considered.

CAAR REAL ESTATE WEEKLY WWW.CAAR.COM

What’s Happening Around Town?

NEWS & VIEWS

Local Real Estate News

MAY 19 - 25, 2021 ISSUE 3020

Your Home will look its Best with the


Hot

MAY 19 - 25, 2021 ISSUE 3020

6

Housing Market Calls for

CAAR REAL ESTATE WEEKLY WWW.CAAR.COM

FEATURE

Smart Financing

A

fish out of water. Up a creek without a paddle. A buyer in a seller’s market. All of these can end badly. But to be successful in a seller’s market, a buyer needs to be prepared, nimble and smart. Anything short of that will lead to angst and frustration. An unpleasant consequence of a seller’s market, at least for the buyer, is that home prices are rising. The numbers in Central Virginia are holding true to the law of supply and demand. According to the Virginia Association of REALTORS® every county in the CAAR footprint experienced price increases from 2020 to 2021. County-wide year-to-date median price increases range from 7.5 percent in Albemarle County to over 45 percent in Nelson County. About the only thing going for buyers in this market is that mortgage rates are staying low. Rates sitting at or below 3.5 percent give buyers leeway to pay higher asking prices. But the downside of lower rates is that nobody wants to miss them. And this draws more buyers into an already overloaded and competitive field.

BY CARLA HUCKABEE

available. “Typically, when demand and prices get this advantageous, sellers will start to come into the market and that helps with lack of inventory. “A couple of things are preventing that from happening this time around. First, a lot of homeowners refinanced within the past year to take advantage of these incredibly low mortgage interest rates. Once they made that investment, if they are comfortable in the home they have, they’re not going to move, even if they can get top dollar by selling. Secondly, unless they already have somewhere to land, sellers are afraid they will have the same trouble buying a house once they sell theirs. It’s too risky to sell.” Given those pressure points, it may take a different dynamic to reset this seller’s market. Or it may be with us for the long term, or until new construc-

tion can make a significant shift in the market. As Michael Guthrie, Broker/CEO with Howard Hanna/Roy Wheeler Realty Company, says, “The one obvious way out of this seller’s market is an economic downturn. And nobody wants that.”

Mortgage Rates Staying Low Anyone who has paid attention to mortgage rates for several decades is ecstatic about today’s situation. But if you’re a Millennial just starting to be aware of mortgage rates in the past 10 years or less, it may be hard not to panic if the rate goes from 3.2 to 3.3 percent. Perhaps a walk down memory lane with someone who’s been through the ups and downs of rates can help. Like a Baby Boomer. They’ll remember 2008 during the housing finance crisis when annual average rates were above 6 percent.

And at the turn of this century when rates went above 8 percent. A decade earlier, in 1990, they were above 10 percent. Many Boomers bought their first house in the early 1980s when the annual average rate was above 16 percent. Imagine what that rate does to your monthly house payments. The fear and panic to get into a house before rates move up again, when they are less than 3.5 percent, seems rather dramatic to anyone with a long history of financing their home. Especially when all indicators point to the rate staying below 4 percent for quite a while. Domenic reports “After historical lows under 3 percent, the rates started moving up and then trickled back a little bit. I fully expect that there will be rates in the threes for the rest of 2021 and well into 2022.” Anyone expecting a sudden increase in mortgage rates to shift the balance from a seller’s to a buyer’s market will have to be patient. Julia Morris-Roberts, Mortgage Loan Officer with Fulton Mortgage Company, serves all the counties in the CAAR footprint. She is equally optimistic that rates are going to stay low. “I’m not looking for a significant jump in the mortgage interest rate for the next 18 months.”

How Low Can Inventory Go?

Down Payment Assistance

“I’ve seen seller’s markets before, but I’ve never seen it like this.” So says Jay Domenic, Mortgage Loan Officer with Towne Mortgage. Not only are there not many homes to buy, but there are more and more buyers chasing the few that are

Now that you’re feeling confident that your mortgage rate will be friendly for more than the next year, you can focus on the other part of the buying equation—how much money do you need to put down?


verse Mortgages for Senior Citizens Reverse Mortgages for Senior Citizen Reverse Mortgages tact John for John a no pressure meeting.meeting. Contact for a no pressure 7

Contact forcan a increase no pressure meeting. rse Mortgage canJohn significantly your increase quality of A Reverse Mortgage significantly your quality of A Reverse Mortgage can significantly increase your quality of etirement by eliminating debt anddebt providing funds lifeinyears in retirement years by eliminating debt and providing funds life retirement years by eliminating and providing funds A Reverse Mortgage can significantly increase your quality of up with the cost of living. keep up with the of living. totokeep up with the cost cost of living.

MAY 19 - 25, 2021 ISSUE 3020

Reverse Mortgages formeeting. Senior Citizens Contact John for a no pressure

life in retirement years by eliminating debt and providing funds Please feel free to contact mecost tome discuss anytimeanytime or meet schedule meet in my office or in toPlease keep up with the of living. free to contact me tofree discuss anytime or to in my office or meet in thein feel to contact toschedule discuss or to schedule to mytheoffice or in the

privacy your home. All meetings are absolutely no-obligation and confidential. your home. Allofmeetings are absolutely no-obligation and confidential. privacy of your home. All meetings are absolutely no-obligation and confidential. Please feel free to contact me to discuss anytime or schedule to meet in my office or in the privacy of your home. All meetings are absolutely no-obligation and confidential.

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JOHN434-249-2222 O’CONNOR JOHN O’CONNO JOHN O’CONNOR

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joconnor@MonticelloReverseMortgage.com • 434-249-2222 or Toll-Free: 866-201-4897 joconnor@MonticelloReverseMortgage.com • 434-249-2222 or Toll-Free: 866-201-4897 NMLSID\372644 MLO\8039VA • Virginia State Corporation Commission (nmlsconsumeraccess.org) joconnor@MonticelloReverseMortgage.com • 434-249-2222MC-2457 or Toll-Free: 866-201-4897 29 Stoneridge Drive, #207, Waynesboro 29 Stoneridge #207, Waynesboro 29 Stoneridge Drive, #207,Drive, Waynesboro NMLSID\372644 MLO\8039VA • Virginia StateMLO\8039VA Corporation Commission MC-2457 (nmlsconsumeraccess.org) NMLSID\372644 • Virginia State Corporation Commission MC-2457 (nmlsconsumeraccess.org) NMLSID\372644 MLO\8039VA • Virginia State Corporation Commission MC-2457 (nmlsconsumeraccess.org)

FEATURE

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Roof Maxx is a quick, natural and affordable alternative to a complicated, expensive and life-disrupting asphalt roof replacement. We offer free roof assessments and our service saves up to 80% over a roof replacement


“One of my clients put in six solid offers before she was successful. She had to work her way through a learning curve until she felt comfortable making an initial offer over the asking price, with an escalation clause.”

the Mortgage Credit Certificate, which can provide a tax credit over the life of the mortgage. Keys to success with these programs are to use a VHDA-approved lending partner listed on their website at vhda.com. Piedmont Housing Alliance (PHA) and Skyline Community Action Program (Skyline CAP) are two local resources for down payment assistance. PHA serves Charlottesville and the counties of Albemarle, Greene, Fluvanna, Louisa, and Nelson. Skyline CAP serves Greene, Madison, and Orange Counties. These and other local organizations offer down payment assistance and other home buyer resources, counseling, and education. In some cases, you may be able get into a house with as little as 1 percent of the purchase price saved. USDA Rural Housing has similar programs to VHDA and Piedmont Housing but targets more rural areas. Their programs cannot be used in the City of Charlottesville and other urban designated areas. Many of the down payment assistance programs cannot be used for new construction homes. Morris-Roberts says “Construction loans have an inherently higher risk associated with them. Down payment assistance is not quite as common, but it’s always worth checking to see if something is available.”

can have saved. So, it’s critical to get all the information long before you start your house hunt.

The alphabet soup of down payment assistance in Central Virginia can be accessed mainly through VHDA, PHA, and USDA. Virginia Housing Development Authority (VHDA) has a variety of programs to help buyers assemble money for their down payment. Some can only be used with a VHDA mortgage. One of the most popular is the VHDA Loan Combo. This brings together a down payment assistance grant, a low-rate mortgage, and

Each of these programs have slightly different rules regarding buyer eligibility and home price and location. Some require that a buyer’s income is below 80 percent of the Area Median Income. Many are only available for first time homebuyers. Most have maximum purchase prices for the homes. Others, particularly the USDA Rural Housing programs, have geographic limits on where the home can be located. Some even have maximum amounts that you

In a seller’s market, the best chance for success is to submit an attractive offer quickly. The number of days on market for houses is often single digits. If you wait, you lose. The advice of your REALTOR® is key to knowing what that offer should be. And pre-qualification for a loan will put you in position to make the offer. “One of my clients put in six solid offers before she was successful. She had to work her way through a learning curve until she

Use Your Team Matching a buyer’s attributes with every possible program is like solving a Rubik’s cube. “It’s almost impossible to figure this stuff out alone and Google just doesn’t cut it anymore,” says MorrisRoberts. “It’s gotten too complicated. The best thing you can do is give yourself time and make sure you have the right people working with you. “Many buyers don’t understand all the factors that go into qualifying for a mortgage or an assistance program. Your credit score, income, budget, closing costs, specific program requirements all must come together. To make sure not to miss something, you need to build a team of professionals. Find someone you feel comfortable with talking things through and that you trust. The two key people on your team to enlist as early as possible are your REALTOR® and lender.” Once they are in place, you can focus on drawing up a plan to achieve your goals. You can work on specific targets for your credit score, debt, and savings. Then as you reach those target numbers, you can implement the strategy you laid out with your team.

CAAR REAL ESTATE WEEKLY WWW.CAAR.COM

FEATURE

MAY 19 - 25, 2021 ISSUE 3020

8

felt comfortable making an initial offer over the asking price, with an escalation clause,” says Domenic. Getting in that mindset and making sure you have the financial capacity to do so takes time. Another strategy may have you rethinking the kinds of houses and locations you consider. “A client pre-qualified for an FHA/VHDA loan. His was one of 30 offers on the house he wanted. In that scenario, he didn’t have much of a chance. He eventually had success by moving a little further out, buying a house that wasn’t such a hot commodity, putting the initial offer in as soon as the house came on the market at $10,000 over ask with a 24-hour expiration on the offer. “A buyer can still protect herself from overpaying by placing a floor on an acceptable appraisal value. That way, they can make an offer quickly at or above the ask and have options if the house doesn’t appraise high enough.” Alex Tiscornia, REALTOR® with Howard Hanna/Roy Wheeler Realty Company, understands the need to be nimble. “Because everything is so accelerated, a buyer usually only has one chance to get it right. A low mortgage interest rate and zero down isn’t enough. When things are happening fast, you have to rely on your lender and agent. It’s critical to have people you trust.” Sometimes waiting can be the best strategy. Knowing mortgage rates are likely to stay below 4 percent, it might be worth it to see if more houses come on the market. “I’ve actually seen a bit of a slowdown in the past 30 days. I think it’s because some buyers want to wait it out to see if the seller’s market neutralizes a bit. They can use this time to save and get in a better position to come back in the market later this year or next. “In one situation a homeowner decided the seller’s market was too good to pass up. She sold her home and is renting for a year. Then she’ll see if she wants to buy next year. She is willing to take the chance that mortgage interest rates will still be reasonably low when her lease expires.” Buyers shopping for a second home may need some new strategies as well. The Federal Reserve imposed a limit on the percentage of second home mortgages they are willing to buy. This may make it more difficult to qualify for a loan on a second home or investment property. The lender and buyer may be able to increase the down payment to overcome this barrier. “These are great times to buy a house,” Domenic says. “The difficulty is not in the interest rate and the financing. We have that covered. It’s in finding the house.” Morris-Roberts advises buyers not to panic. “Don’t rush into a hasty decision because you’re afraid of missing low interest rates. Work with your team to come up with some creative financing that takes full advantage of low mortgage interest rates and meets your needs. That’s what works in this market.” The smart money says when you’re ready, low interest rates will still be here for you. Carla Huckabee writes about high performing real estate.


9

EAN FAULCONER INC. MCLFarm, Estate and Residential Brokers

We have just the program for them!

Farm, Estate and Residential Brokers 503 Faulconer Drive ∙ Charlottesville ∙ VA ∙ 22903

LACKEY LANE

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MAY 19 - 25, 2021 ISSUE 3020

Do you have a 6 - 14-year old who likes horses & donkeys?

PORTERS ROAD

Charming bungalow in Southern Albemarle. Home offers 2 bedrooms, 1 bathroom, covered front porch and a detached garage. Over an acre of beautiful, flat land with a winding path through the woods. $235,000

CALL SHARON

Over 25 years of Real Estate experience. email: callsharon.today@yahoo.com cell: 434.981.7200 FEATURE

WWW.MCLEANFAULCONER.COM

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MAY 19 - 25, 2021 ISSUE 3020

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EAN FAULCONER INC. MCLFarm, Estate and Residential Brokers RIVANDALE FARM

KESWICK

Enjoy mountain views of the historic Southwest Mountains from this livable 4-bedroom residence on 6 private acres. Convenient and quick to Pantops, Historic Downtown Mall, and UVA. Within steps of all the amenities at Keswick Hall. $989,000 Charlotte Dammann, 434.981.1250

KESWICK ESTATES

Exquisite English Country home on 2.5 acres. Very private with lovely views of the golf course and distant mountains. The architecturally designed, 7,000+ sf. residence offers LR, DR, gourmet kitchen, library, office, media room, and 5 BR. MLS#611738 $1,695,000 Charlotte Dammann, 434.981.1250

WOODLANDS

Beautifully restored 1780s Colonial on 293 acres in Northampton County. This historic home has 4 BR, 3 full & 2 half BA. Property has access to the Machipongo River which flows into the Atlantic. Rare offering. MLS#614051 $1,495,000 Steve McLean, 434.981.1863 WoodlandsFarmVa.com

An oasis of tranquility and fine country living within 20 miles of Charlottesville. MAGNIFICENT 177 acres privately situated in Somerset Estate Region, featuring c.1901 classic Virginia farmhouse, completely remodeled and updated to create a comfortable & elegant, 4-BR & 4.5-BA home. Covered & screened porches, open terraces, large gunite pool, and expertly landscaped gardens. Improvements include 12-stall stable, 2 detached garages, barn & sheds, all land fenced and 3 ponds. MLS#609244 $3,795,000 Jim Faulconer,434.981.0076 www.rivandaleva.com

KESWICK COUNTRY CLUB

Bordering (Full Cry)Pete Dye golf course and lake, within grounds of Keswick Hall, 5-star luxury resort, is this magnificent 5-bedroom residence constructed of the finest materials with attention to every detail. MLS#603398 $4,200,000 Jim Faulconer, 434.981.0076 www.FairwayDriveAtKeswick.com

SUNNYSIDE

Remarkably large parcel located convenient to Charlottesville and UVA. Exceptional Blue Ridge views, charming farm house (in need of restoration). Under VOF easement but with divisions into already predetermined parcels. MLS#585228 $4,400,000 Steve McLean, 434.981.1863

FAIRVIEW

Circa 1880, 4-bedroom, 2.5-bath, home on 2.34 acres, surrounded by a 288-acre farm protected with a conservation easement. Located near several vineyards and breweries in the Western Albemarle School District only 15 miles to Charlottesville. MLS#616135 $978,000 Jim Faulconer, 434.981.0076

TOTIER HILLS FARM

Exquisite brick mansion, superb quality construction and features in over 9,000 finished square feet. On 98 gently rolling acres with total privacy, a stream, and pond. Only 5 minutes to shops, 15 miles to UVA. MLS#600284 $2,700,000 Jim Faulconer, 434.981.0076 www.TotierHillsFarm.com

CAAR REAL ESTATE WEEKLY WWW.CAAR.COM

FARMINGTON

Exceptional 1954 Milton Grigg 8-BR residence carefully sited on over 2.5 manicured acres. Beautifully maintained, the original brick home has been enlarged, creating an elegant yet livable floor plan with open living and entertaining spaces, kitchen, and master suite on the main level. Pool, 2-story pool house, and 3-bay garage with fully equipped 1-BR apartment above. Fronting the 17th fairway in Farmington, gorgeous setting, and prime location only minutes to UVA and Downtown. MLS#606911 $4,950,000 Steve McLean, 434.981.1863 www.320FarmingtonDrive.com

MERIDIEN

Private, peaceful, and perfect—a sophisticated country estate offering stunning Blue Ridge views from just over 40 rolling acres, 9 miles NW of Charlottesville. C.1840, modernized home, 5 BR & 3.5 BA. Under conservation easement. MLS#613521 $3,685,000 Steve McLean, 434.981.1863 www.MeridienFarmVa.com

503 Faulconer Drive| Charlottesville | VA 22903 | office: 434.295.1131 | email: homes@mcleanfaulconer.com

WWW.MCLEANFAULCONER.COM


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GLENDOWER ROAD

PRICED UNDER COUNTY ASSESSED VALUE! Classic, well-built 4-bedroom home, privately situated on 5 private acres only 15 miles south of Charlottesville and UVA, and only 5 miles from historic Scottsville. MLS#604475 $599,000 Will Faulconer, 434.987.9455

BELLAIR

Rare opportunity to purchase a building lot of just under 1 acre in sought-after Bellair. Lush, mature landscaping, partly wooded, stream/creek. Minutes from UVA, shopping, dining, and entertainment. Murray/Henley/Western Albemarle school district. MLS#614627 $375,000 Steve McLean, 434.981.1863

WESLEY CHAPEL ROAD

Nice, mostly wooded residential building lot in Meriwether Lewis School District! Great privacy, 1.72± acres, beautiful rural setting in an area of large farm and estate properties. Located approximately 15 miles NW of Charlottesville. MLS#613685 $125,000 Steve McLean, 434.981.1863

NORTH DOWNTOWN

Colonial Revival style circa 1913 residence restored to perfection. Flexible and updated floor plan with 2,970 finished square feet. Coveted private backyard and off-street parking. Walk to the amenities of the Historic Downtown Mall and UVA. MLS#608794 $1,449,000 Charlotte Dammann, 434.981.1250

RUSTLING OAKS

Attractive, well-built residence on 4.09+/- mostly wooded acres, end of cul-de-sac location, 3 BR, 3.5 BA, high ceilings, beautiful hardwood flooring, large well-proportioned rooms, fin. bonus room above 2-car garage, full unfin. walk-out basement. MLS #614704 $1,385,000 Steve McLean, 434.981.1863

BUFFALO RIVER ROAD

Elevated 21-acre tract, mostly mature hardwood forest and road frontage in northwest Albemarle. Elevated homesite offers potential panoramic Blue Ridge Mountain views with some clearing. Adjacent 21 acres also for sale. MLS#614424 $227,000 Jim Faulconer, 434.981.0076

VERULAM FARM

Landmark estate just west of University of Virginia on 500 acres. Classic home of the highest standards with elegant spaces, 5 bedroom suites, formal gardens, pool, cottage, event barn, and bold mountain views creating a one-of-a-kind offering. MLS#597954 Andrew Middleditch, 434.981.1410

OLD VIRGINIA

Beautiful, mostly open rolling Albemarle County parcel offering 51.8 acres, sweeping panoramic mountain views, bold stream, pond, & old unrestored log cabin. Has division rights & potential for conservation easement. 16.2 miles west of Charlottesville. MLS#615504 $780,000 Tim Michel, 434.960.1124

LONESOME MOUNTAIN ROAD

5-acre lot with road frontage only 4 miles from Charlottesville. This country but close-to-town location is conveniently located with quick access to Historic Downtown Mall, Martha Jefferson Hospital, UVA, NGIC, airport, and North Fork Business Park. MLS#593160 $250,000 C. Dammann, 434.981.1250

GILBERT STATION ROAD

Wonderfully private, 67-acre tract of land approximately 11 miles north of Charlottesville in Barboursville. Mostly wooded with a creek and road frontage. Tremendous views. MLS#552156 $565,000 Steve McLean, 434.981.1863

503 Faulconer Drive| Charlottesville | VA 22903 | office: 434.295.1131 | email: homes@mcleanfaulconer.com

WWW.MCLEANFAULCONER.COM

CAAR REAL ESTATE WEEKLY WWW.CAAR.COM

EDNAM FOREST

Wonderfully large 1.5+ acre building lot in Ednam Forest. Build your dream home on this elevated, wooded lot located in a single family community, minutes from the University of Virginia and within walking distance to Boar’s Head Resort.MLS#598537 $289,500 Steve McLean, 434.981.1863

FRAYS MILL

4.15 acre lot offers privacy, great location in small subdivision, state maintained road, high speed internet available, just 3.5 miles to Rivanna Station, NGIC, 6 miles to Hollymead Center and the CHO Airport. (Owner/Agent) MLS#608508 $189,000 Jim Faulconer, 434.981.0076

MAY 19 - 25, 2021 ISSUE 3020

EAN FAULCONER INC. MCLFarm, Estate and Residential Brokers


12

CAAR REAL ESTATE WEEKLY WWW.CAAR.COM

MAY 19 - 25, 2021 ISSUE 3020

RECENT SOLDS

• Free Union • 131 Acres • $2,375,000 • Sold before coming on market

• Keswick, Va • 31.64 Acres • $319,500

• 5445 Hilltop St • Parkside Village • $384,000 • Under contract in 6 days

• 2162 Saranac Ct • Pavillions at Pantops • $365,000 • Under contract in 2 days

• Cnoc Tirim • 25.35 Acres • $1,185,000 • Sold $65,000 above list price

• Sweet Hollow Ln • Close to 64 • $105,000

• Somerset • 15 Acre Estate Parcel • $279,000

• 2866 Valentine Mill Rd • $669,500 • Under Contract in 71 days

• Dick Woods Rd • 6.4 Acres • $188,000

• Sunny Banks 1888 • 50 Acres with South Anna River Frontage • $749,500

• Dickwoods Rd • 73.94 dividable Acres • $1,115,000 • Under Contract in 34 days

• Somerset • 20 Acre Elevated Parcel $245,000

Steve White (434) 242-8355 info@stevewhiterealtor.com

stevewhiterealtor.com 28 Years of Specializing in Buyer & Seller Representation for Residential, Farms & Estates

1100 Dryden Lane Charlottesville


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MAY 19 - 25, 2021 ISSUE 3020

SPRING LISTINGS

BROOK HOLLOW

HOMESTEAD FARM RD

• Private setting with English Cottage main home • 38 acres, 3 separate parcels • Spectacular westward mountain views and sunsets • Charming guest cottage • MLS #614593 • $1,795,000

• Custom built elegance • 10’ ceilings • Main floor master suite • Lovely mature landscaping • MLS# 611677 • $1,475,000

WINDSOR FARM

LAKE ANNA • 82.91 acres • 3500 linear feet on Lake Anna • Rolling pasture and hardwoods • MLS #610245 • $2,499,000

SOUTH RIVER MEADOWS • 40.70 dividable acres • South River frontage • Blue Ridge Mountain views • MLS #600761 • $595,000

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• 88 acres in Free Union • Stunning Blue Ridge Mountain views • 5 BR/3 BA residence with 2996 fin.sq.ft. • MLS #616104 • $2,350,000

SCOTTSVILLE

• Private setting with mature hardwoods • Elevated building site • Situated on a cul-de-sac • MLS #615730 • $294,500

Steve White (434) 242-8355 info@stevewhiterealtor.com

stevewhiterealtor.com 28 Years of Specializing in Buyer & Seller Representation for Residential, Farms & Estates

1100 Dryden Lane Charlottesville

CAAR REAL ESTATE WEEKLY WWW.CAAR.COM

• Renovated Cape Cod • 4 BR/3 BA, 2795 fin.sq.ft. • Basement apartment (private entrance) • MLS #608408 • $395,000

KESWICK ESTATE


MAY 19 - 25, 2021 ISSUE 3020

14

Live It Up

HOME SALES STATS ENDING THE WEEK OF MAY 16, 2021

THERE WERE 128 SALES IN THE 11 COUNTY AND CITY AREAS n 42 were in Albemarle with an average price of $670,121 n 14 were in Charlottesville with an average price of $539,850 n 6 were in Fluvanna with an average price of $394,622 n 8 were in Greene with an average price of $372,250 n 17 were in Louisa with an average price of $389,746 n 3 were in Madison with an average price of $1,009,834 n 12 were in Nelson with an average price of $389,892 n 17 were in Orange with an average price of $547,087 n 5 were in Staunton with an average price of $298,120 n 4 were in Waynesboro with an average price of $249,982

HOMES SOLD

Fine Properties VOLUME 27, ISSUE 1

A Publication of The Charlottesville Area Association of REALTORS®

www.caar.com

The Residences at 218 The RESIDENCES at 218 define luxury in Downtown Charlottesville. These lavish condos are offered both meticulously designed or finished to your particular taste. This premium location boasts the best in dining, shopping, and entertainment. Featuring awe-inspiring views of Charlottesville and the surrounding mountainscape, with floor to ceiling windows and expansive outdoor terraces.

John E. Neal (434) 906-3141 jneal@gemc.com

www.RESIDENCESat218.com

Homes of Distinction in Central Virginia Look for our latest issue where you pick up C-VILLE Weekly

THE 3564 RICHMOND ROAD ROYAL ACRES

119 PORTER AVENUE OAKLAWN

67 MISTLAND TRAIL RUCKERSVILLE

Staff:

EDITORIAL COORDINATOR

Celeste Smucker • editor@caarrew.com

MARKETING SERVICES Beth Wood beth@caarrew.com • 434.817.9330

154 LABOR LANE GORDONSVILLE

10396 LIBERTY MILLS RD MONTPELIER STATION

CAAR REAL ESTATE WEEKLY WWW.CAAR.COM

LOCAL GOVERNMENT (Note: Real estate tax information gathered from local government Web sites and is believed but not guaranteed to be accurate as of publication date. Towns may assess real estate taxes in addition to those charged by each county.)

CITY OF CHARLOTTESVILLE

GREENE COUNTY

CITY OF STAUNTON

LOUISA COUNTY

www.charlottesville.org Real estate tax rate: $.95 per $100 www.staunton.va.us Real estate tax rate: $.95 per $100

CITY OF WAYNESBORO

www.waynesboro.va.us Real estate tax rate: $.90 per $100

ALBEMARLE COUNTY

www.albemarle.org Real estate tax rate: $.854 per $100

FLUVANNA COUNTY

www.co.fluvanna.va.us Real estate tax rate: $.925 per $100

Faith Gibson ads@c-ville.com • 434.817.2749 xt. 25

1310 N AUGUSTA STREET STAUNTON

www.gcva.us Real estate tax rate: $.775 per $100 www.louisacounty.com Real estate tax rate: $.72 per $100

MADISON COUNTY

www.madisonco.virginia.gov Real estate tax rate: $.68 per $100

NELSON COUNTY

www.nelsoncounty.com Real estate tax rate: $.72 per $100

ORANGE COUNTY

www.nelsoncounty.com Real estate tax rate: $.61 per $100

DESIGNER

CAAR

Tracy Federico designer@c-ville.com

The REAL ESTATE WEEKLY is published weekly by the CAAR Real Estate Weekly, Inc., a wholly owned subsidiary of the Charlottesville Area Association of RealtoRs®, Inc. Copyright All rights reserved. Reproduction in whole or in part without permission of the publisher is strictly prohibited. All advertising published in the REAL ESTATE WEEKLY is believed to be truthful and accurate. No advertising will be published in the Real Estate Weekly if it is known to be inaccurate or untruthful, but this publication does not warrant, nor is it liable for, the accuracy or truthfulness of the advertising placed within this publication. Neither the CAAR Real Estate Weekly, Inc., nor its corporate parent, the Charlottesville Area Association of RealtoRs®, Inc., assume any responsibility and shall have no liability whatsoever for errors, including without limitation, typographical errors or omissions in the REAL ESTATE WEEKLY. Any reference made to the CAAR Real Estate Weekly, Inc. or the Charlottesville Area Association of RealtoRs®, Inc. is not to be construed as making any representation, warranty, or guarantee by the corporations concerning the information on properties advertised in the REAL ESTATE WEEKLY. The content of all ads contained herein are solely the responsibility of the advertiser. The opinions and statements contained in advertising or elsewhere in this publication are those of the authors of such opinions and are not necessarily those of the CAAR Real Estate Weekly, Inc., or the Charlottesville Area Association of RealtoRs®. the CAAR Real Estate Weekly, Inc. reserves the right to edit or refuse any advertising it deems inappropriate or misleading. No advertising will be published in the Real Estate Weekly if it is known to be inaccurate or untruthful. Every effort has been made to assure accuracy, but this publication does not warrant, nor is it liable for the advertising placed within this publication. This publication will not accept advertising that refers to or attempts to establish fees or rates of commissions charged for services rendered. Information on advertising placement may be obtained by calling 434-817-9330. All real estate advertised herein is subject to the Federal Fair Housing Act, which makes it illegal to advertise “any preference, limitation, or discrimination because of race, color, religion, sex, handicap, familial status, or national origin, or intention to make any such preference, limitation, or discrimination.” Virginia Fair Housing Law also makes it illegal to discriminate because of elderliness (age 55 and over). We will not knowingly accept any advertising for real estate which is in violation of the law. All persons are hereby informed that all dwellings advertised are available on an equal opportunity basis. CAAR Real Estate Weekly Is printed on 100% recycled paper

308 E. East Main Street • Charlottesville, VA 22902 Tel.: 434-817-9330 • e-mail: ads@caar.com Send your news and/or press releases to editorREW@gmail.com


15 MAY 19 - 25, 2021 ISSUE 3020

When it comes to housing, little things shouldn’t make a difference. If you have children or are pregnant and a landlord refuses to rent to you, requires a higher security deposit, limits the use of facilities, or says you can only live in certain areas of a housing complex ... that could be discrimination. And housing discrimination because of familial status is against the law. If you believe you may be a victim of housing discrimination, contact HUD or your local Fair Housing Center:

Your Choice. Your Right. Your Home. A public service message from the U.S. Department of Housing and Urban Development in partnership with the National Fair Housing Alliance. The federal Fair Housing Act prohibits discrimination because of race, color, religion, national origin, sex, familial status or disability. For more information, visit www.hud.gov/fairhousing.

CAAR REAL ESTATE WEEKLY WWW.CAAR.COM

Visit www.hud.gov/fairhousing or call the HUD Hotline 1-800-669-9777 (voice) 1-800-927-9275 (TTY)


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Keller Williams Realty 3510 Remson Ct # 301 Charlottesville VA 22901, 434-220-2200. If you have a relationship with another Realtor, this is not considered a solicitation. Fair Housing Compliant. Licensed to sell real estate in Commonwealth of VA. Each office independently owned & operated.

MLS : 616939

Profile for The Real Estate Weekly

The Real Estate Weekly | 5.18.2021  

Hot Housing Market

The Real Estate Weekly | 5.18.2021  

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