Owners hate to leave this like new Wendell Gibson quality built home only minutes to 250 or 64. Situated on 2 acres and at the end of a quiet street, you will love the privacy and manicured lawn. Natural light floods the spacious rooms with features like extensive hardwood floors, huge kitchen with island, stainless appliances and walk in pantry. Upstairs the master suite features a tray ceiling, 3 additional BR + bonus room. The unfinished walk out basement is great for expansion or storage.

Wow, just what you've been waiting for! This beautiful home features a soaring ceiling in the great room which is totally open to the awesome kitchen. Built in bookcases grace the home office, and the first floor master is magnificent with its own sitting room. Upstairs is a teen suite with private bath and sitting room, plus 2 more huge rooms. The terrace level is light filled and features a large family room with wet bar, 5th bedroom, game rooms and storage. Fantastic yard and outdoor space!

Call or email me today   434-466-7130  or judy@savageteam.com

Fact Check.org explains it this way:

The truth is that only a tiny percentage of home sellers will pay the tax. First of all, only those with incomes over $200,000 a year ($250,000 for married couples filing jointly) will be subject to it. And even for those who have such high incomes, the tax still won’t apply to the first $250,000 on profits from the sale of a personal residence — or to the first $500,000 in the case of a married couple selling their home.

Now, I don't know about you but if I make a profit of $500,000 on my home I will gladly pay the government a 3.8% tax on the amount over $500,000.  We should all be so lucky.....With what has happened to the real estate market in the last three years I don't too many of us will be subject to the tax.

As with any of your real estate questions, please give us a call and we'll be happy to discuss it with you.  If we don't know the answer we will find someone who does.

Not all Multiple Listing Services send their listings to Trulia, Zillow or even Realtor.com.  In Charlottesville, our board of directors decided a few years back to only send to Realtor.com because that was the site of the National Association of Realtors. The syndication of listings was delegated to the individual offices.  Our office subscribes to List Hub and service that sends our listings our to sites all over the web.  The feeling being that the more places our listings showed up the better it was for our sellers.  More exposure means more buyers are looking at the home. 

Just this morning I got an inquiry from a buyer about a listing that was not mine and was under contract.  That listing was still showing active in Trulia although it was now under contract.  The aggregators are quick to upload the listings but not to update them.  They seem to like to have lots of property out there regardless of the status.  I emailed her back and told her it was not available and let her know that much of the data she sees on Zillow or Trulia is not up to date and she would be best served having a Realtor sending her information on the criteria she was looking for.  She agreed and sent me her must have list along with her contact information.

Almost everyone starts there search online and who knows where they will look first.  I tell my Seller's these days their first showing is online and if it doesn't look good online they won't get the second showing.  We are at a crossroads, in my humble opinion, of which way to go.  Do we pull our listings from these aggregators and rely on our own websites and MLS sites to satisfy the hunger of the cyber buyer out there, or do we accept that we've opened the barn door and find ways of conducting our business that will be beneficial to our Sellers and yet give Buyers accurate information that will help them in their buying decisions.  It's something to ponder, what do you think?

Here is the video from the President of ARG in San Diego.  Your comments are welcomed.

We all, me included, have been saying it's a good time to buy since 2008.  None of us ever expected that the housing bust would last as long as it has.  I've been in this business for 26 years and never in 1000 years did I ever think we would see 20% of our Charlottesville market be short sales and foreclosures.  It's happen and it's a fact.  Prices have fallen as much as 25% in some areas and even those buyers who did all the right things now find themselves upside down in their home.   But, I do believe prices have stabilized and Sellers have gotten the message.  Prices now are more reflective of the actual market than they were two years ago.  Everyone, Realtors and Sellers, have gotten the message that Buyers won't buy unless the price is right and the condition is perfect.  My Seller clients often hear me say "It's a price war AND a beauty contest, and YOU have to win both."  That's not to say everyone has accepted the realities of this market, there are some properties that are STILL overpriced.  It takes an experienced Realtor to separate the  good from the bad.

As far as prices, they do seemed to have stabilized and I think (I hope) we won't see much further depreciation in 2012.  I don't have a crystal ball, and my thoughts are also hopes.  It seems that when I am pricing a home today using comps that are only 4 or 5 months old that my suggested price to my clients is pretty much on the mark.  My listings in 2011 sold for 98% of what I listed them for.  Pretty good.....if I do say so myself. 

So, if you are thinking of buying a house in 2012 I think this has been the best time in a long time.  Interest rates are SO low!  I can't imagine they will get better, only worse.  If they go 1% higher (and they will) next year, even if prices do drop another 2 or 3%, your payment will still be higher.  You should really look at what happens if interest rates go up another percent.  That in itself will make a difference.  You need to buy now, even if you don't buy from The Savage Team, just do it!

A 15 year mortgage saves you lots of money.  If you can afford the higher payments.  If you keep your job and if you don't have to move for some unforeseen reason.  (Like a better job.)  If you have to move and you can't sell your home, can you rent it at a price that will cover the higher mortgage payment you are making?  If not, the negative cash flow could cripple you financially.  You can keep renting and losing money or you can sell at a loss and lose money.  Your choice.

In this market, with the ultra low interest rates, I believe the best option is a 30 year mortgage.  In fact, if I could lock in a loan for 40 years I would do that.  With inflation on the rise you will be paying back the loan with ever cheaper dollars.  A 30 year loan also gives you the flexibility to make extra principle payments and save thousands in interest that way.  (Be sure your note has a clause expressly allowing this.)  

Since you've read this far, you're probably a serious student of the home buying process.  Keep reading, keep studying, keep watching all the markets.  You'll do well.

1)  Do you own the home you are in?  (If you do and it is not on the market, how are you going to buy another one?)

2)  Do you rent your home?  (If you do and you have lease obligations, how are you going to buy?)

3)  Have you been pre-approved by a lender?  (If not, how do you know you can afford this home?)

4)  Are you working with an agent?  (If you are, you should have your agent show you the home.)

To save yourself time and disappointment, get pre-approved by a lender.  You'll know exactly how much home you can afford.  A good Buyer's Agent can walk you through the process.  ( I go to the lender with my client to explain and interpret "bankerese".  It also alerts the lender that the buyer has someone there familiar with the process so they don't try to sell you on a loan that might not be the best for you.)  When you know that you qualify for a loan you can put in motion the other steps in the process.