Stan's Market Report \ April 2, 2008
Dear friends,
Spring has arrived everywhere but the mountain and with it my usual allergies. Were it not for the cold and wind on the mountain I fear they might be worse. That is part of the joy of Wintergreen. By the time you get rid of the allergies in the valley, the plants and pollen arrive on the mountain. I have now established a link for the Nature Foundation on my web site and one for Nelson County, to make it easier to check activities and to plan your visits.
The market is still is recovery, but there has been improved sales on the mountain in the last month. Money is more difficult to obtain and we are searching and getting commitments on new sources of funds so we can make the whole process seamless. I wanted to get a feel for what it would be like to buy in a location far from Virginia. A Hemingway fan, naturally I choose Key West. I have to admit that even as a Realtor, the terms, land use, building requirements and locations were all confusing and extremely difficult. I will make sure that no one has the same issues at Wintergreen.
I have always been a huge fan of honesty. I know it is the right thing, but it sure has had a negative effect on my sales. I guess my comment would be that a "happy face" doesn't change reality. It just puts a smile on it. I remain cautious, careful, and always seeking value, and slower than the buy today or you will lose it Realtor.
I am a lot, perhaps too much, like my mother, except without her "bumble bee" energy. Even with a walker, she can't slow down, so much so that she used her emergency alert and was found by the Sheriff's Department in her laundry basket.
In Real Estate, there are several prices, the purchase price, the assessed value, and the market price. The only one that truly matters in any market is the market price. Purchase prices and assessed values are often time centered and reflect prices as they were not as they are. And real estate, like stocks, has become cyclical moving more up and down than it has in recent years. So whether listing or buying, one needs to concentrate on what is and what could be as opposed to what was.
Now for a few ads (just bear with me): One can now buy a lot in Stone Orchard with 360 degree views of the surrounding area and mountains and then choose your our builder. The views are really second to none in Stoney Creek and a great place to be if seeking a community with smaller lot sizes and no lawn maintenance, and easy access to golf, swimming, and Nellysford.
Next, I have an outstanding builder on the mountain who has multiple plans he will build as custom homes on his sites for below $400,000. Finally, I have just listed a wonderful home in Stoney Creek with a large lot, open space behind, 3 car garage, and in perfect condition with over 2700 square feet and mountain views from the sun room for $549,000 and with the right offer some concessions may be made if you take the Premier Membership. It is one you don't want to miss. It is a good value, all on one level, and one of my all time favorites in Stoney Creek. Better than new and built in 2000.
We have too in our company the best builders in the area-so if you want to build please contact me as you can often do so for less than the price of a condo with condo fees. And this as most of you know has been my specialty in recent years. Now, with lot prices lower it has never been a better time to consider this option.
I moved my office on the mountain to help, so if you need anything at all to make Wintergreen more enjoyable just call me, and I will do everything I can to try to help.
PS: The Blue Ridge Parkway is an excellent way to get to the mountain resort from I-64 at this time a year.
- Stan
