For including me on their list of “Wired Business people in Charlottesville”

From the story:

CBS19’s Bianca Spinosa profiles a list of three local business leaders who are “wired-in.” They use all the high-tech tools to communicate and keep their businesses prospering.

From cyber space to work space, these three local business people know how to make the most of their passions.

Real estate agent Jim Duncan just moved into his new office this summer. Back in May, it was completely empty. Duncan’s blog, Real Central VA, is an online mecca for locals wanting expert real estate analysis with a personal touch.

“I am more cognizant of my readership now. Frequently I’ll write stories for my readers, whereas in the beginning it was purely for me,” explains Duncan of Nest Realty.

Thousands of people read Duncan’s blog every day

“I’m passionate about real estate, about my clients, and about learning,” says Duncan via a You Tube video on his site.

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I’m sitting on a panel discussing the Future of the MLS at the National Association of Realtors convention in San Diego. After the announcement of RPR last week, the future is bright/cloudy/great/muddled/uncertain.

As with every conference I attend, I go with a couple goals:

1 – What can I learn that will help my clients?

2 – Learn at least two things that will help me better represent my clients in the Charlottesville area?

3 – What can I learn that will position me ahead of my competition?

- Note that my competition consists of more than Charlottesville Realtors – it’s consumers as well. Consumers are far more tuned in and in touch that ever before, and I have to work that much harder to stay ahead of them. Really, if they consistently know more than I, what value do I bring other than an MLS login and a lockbox key?

Here is a preview of my work-in-progress part of the panel:

I love that this panel is the second-most pre-registered event at the convention. It really should have been scheduled for at least 90 minutes rather than 60.

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You might have seen the occasional Zipcar in Charlottesville – usually they’re from the DC Metropolitan area. But now it seems that Charlottesville has their own Zipcars – 6 of ‘em in fact.

It was good of UVA to have sorted out a deal with Zipcar; the Daily Progress article says the minimum age to rent is 18 and Zipcar’s site says it’s 21.

Thanks to the Daily Progress for the heads-up.

Funny; I had hoped for Zipcars in 2005 when I read this Cavalier Daily article<:

Representatives from Zipcar, a rental car service, and officials from the University’s Department of Parking and Transportation currently are communicating on a plan to bring Zipcar to the University.

Lamentably, being a Realtor in Charlottesville does not (yet) allow itself for a Zipcar + bicycle only existence.

But … if you combine a Zipcar + a bicycle + a home in Charlottesville with a relatively high Walkscore …

You might just be onto something.

Photo courtesy.

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You may remember a story a few months ago in which I discussed recycling options in Charlottesville and Albemarle. It used to be that there were no options, then there was one and now there are a few.

Three years ago I ran a poll questioning the market for curbside recycling in Albemarle.

The City of Charlottesville provides recycling for free* and charges to pick up trash:

Individual trash stickers for 13-gallon and 32-gallon trash bags are available in the City Hall Lobby and at many convenience and grocery stores in the Charlottesville area.

If you want proof that there’s a market for recycling in Albemarle, look at this picture. The green trash cans are provided by the firm that provides curbside recycling; blue by the one who doesn’t. 90 days ago, these cans were all blue.

People want to recycle; it just has to be convenient to get the masses to adopt.

Then read about the absurd lawsuit by the local government mob waste authority trying to put the kibosh on the company that provides the destination for curbside, un-sorted recycling.

There’s surely more to the story, but at what point does government realize that they are obsolete?

Either way, it seems that the market is showing that given the choice, people will recycle in Charlottesville and Albemarle.

* free in that people pay taxes.

** I’d think a paid journalist might want to follow up on this story; talk to trash companies and ask what they’ve seen since they’ve started offering curbside recycling and ask the ones that don’t why they don’t follow.

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It’s been pretty boring in real estate for a while. Not anymore.

There was an announcement by the National Association of Realtors, in conjunction with Cyberhomes and RPR, LLC in the real estate world last week, and likely very few Realtors, real estate agents and fewer consumers knew, noticed or cared. But it’s a big development that is likely to impact nearly every facet of selling homes … and it’s not open to the public; it’s a service by and for Realtors. And that’s very good thing.

Make no mistake, the ramifications are deep and wide.

If you’re interested, read the following stories.

Succinctly, we’re talking about the Realtor Property Resource (RPR) and Houselogic.com.

1000 Watt Blog

Agent Genius

The Notorious R.O.B.

Not to mention Houselogic –

One thing I’m thinking of with regards to Houselogic, after playing with it for a while – it seems to me that it’s aiming to be a Mint.com for homeowners … and that’s really interesting. The possibilities are huge.

Update 10 November 2009:

The Wall Street Journal weighs in.

More at Agent Genius

Copyright RealCentralVA.com, LLC. If you are not reading this at RealCentralVA.com the site you see is likely stealing content.

• First thought on Houselogic.com – It's trying to be a Mint.com for homeowners. #
• In Staunton for kid's soccer game. Nice downtown. #
• Love the Crozet Mudhouse. Riding my bike to meet buyer clients. #
• Coaching soccer this morning in Crozet. Love it. #
• Love that it's 30 degrees in Crozet this morning. #
• @robhahn I think the term "game-changer" is an understatement. Too many in the RE bus feel they are "too big to fail" #notsomuch in reply to robhahn #
• RT @robhahn: New Notorious: http://tr.im/EoS0 The Coming Civil War in Real Estate – my take on RPR [Damn, you write voluminously] #
• @EricStegemann I'm going to be doing the same. Today was a big day, but my thoughts are still swirling about the ramifications in reply to EricStegemann #
• Reading: http://bit.ly/OqttT #RPR #
• The more I think about it, I'm pretty excited for NAR in San Diego next week. #
• @PhxREguy @toddwaller how much will that $11B cost in 2035 dollars? Short-sighted pandering ignorance sucks in reply to PhxREguy #
• Just showed a house in Belmont that, 4 months ago felt $50k overpriced. Now it's $75k less and still feels $50k overpriced #
• RT @ARDELLd: to be clear…I'm moving people to lists vs follow in some cases. Then i can see them when I want to see that "topic"[gr8 idea] #
• @hthrflynn I forgot I left that in. And now I'm away from my mac. Ah well … I yam what I yam. in reply to hthrflynn #
• @ktgeek How are "RPR users" defined? #
• @ARDELLd It absolutely has. I'm working on a series of posts now on the costs of homeownership #
• Gratifying to see something I worked on four years ago coming to fruition #
• @ARDELLd Buyer. in reply to ARDELLd #
• Funny. Client told me today that owning a house is "a money pit" #
• H.R. 3548: Worker, Homeownership, and Business Assistance Act of 2009 http://bit.ly/10tTQs #
• RT @hilarymarsh: Great news — President Obama has just signed the home buyer tax credit bill (amendment to the unemployent bill)! #
• RT @SusanGoulding: Interesting…. Move Inc. revenue declining http://bit.ly/4CQRV9 #
• Amtrak in Charlottesville – One Person’s Experience http://post.ly/BrRZ #
• Nice job @DailyProgress – You do local news well http://post.ly/BqiX #
• @RyanSAdams Or, use a straw. in reply to RyanSAdams #
• @TomRoyce Being able to work at the home inspection – priceless. in reply to TomRoyce #
• Local Realtor politics are offensive. #
• Home inspection has wireless. Life is good. #
• Looking forward to the #Droid reviews & impressions. How will it mesh w/ how good Realtors need it? -v- Blackberry. #
• Home inspection this morning. Then an exciting afternoon. #
• RT @drewmeyers: version 2 of local market explorer is live in the WP plugin directory http://bit.ly/4oQCev feedback welcome!! #
• @hull_j and a special place in heaven if reports aretrue a/b the civ. police officer who killed the alleged shooter in reply to hull_j #
• @troyrech thanks for the reminder. I meant to add that. in reply to troyrech #
• Time to be the parental taxi. #
• Want a preview of my 5 min part of the NAR Future of the MLS panel in San Diego this week? It's a work in progress: http://bit.ly/1AznsV #
• RT @PhxREguy: BREAKING: Home Buyer Tax Credit Passes Both House & Senate. New on TPREG: http://bit.ly/3IgwHs [meh] #
• I've gotta say it, the VA Assoc of Realtors have awesome staff. #
• @mrlerner I wish Charlottesville was available on Walkscore/Google. And that we had viable public transit in reply to mrlerner #
• RT @PhxREguy: House is now voting on the bill that includes amendment to extend / expand home buyer tax credit. #
• Commercial real estate practitioners are such a vastly different breed than residential ones. #
• RT @rvabusiness: Great to see @bkmcae & @jimduncan at the VAR public policy meeting (now)! Thks to @jovanh for dropping in earlier, too! #
• @mattcase ah. I'm seeing some tweeting spam (IMHO) that drives them higher in SERPs. I don't do them in reply to mattcase #
• RT @Emarieg: This is such bullshit.My high risk kids have to wait at universities while Wall Street folks gets theirs. http://bit.ly/3F7mLP #
• Missing the Charlottesville Realtors' meeting this morning for a VAR meeting in Richmond. #
• @mattcase @unmarketing maybe, but they seem to work. While not pure, their ROI in SEO often is quite good in reply to mattcase #
• Heading to the gym in a few. Need it. #
• @GregCooper @PhxREguy It's not like it's our money anyway. We'll just borrow more. And use 1 credit card to pay off the others. in reply to GregCooper #
• Schoolhouse Rock- How a Bill Becomes a Law –Thanks @phxreguy http://post.ly/Bdx1 #
• RT @rerockstar: @JimDuncan Wanted you to know I quoted you in this: http://bit.ly/2xkGV1 [Thanks. Just commented http://bit.ly/w12lQ ] #
• @mattdollinger @IanWatt I can only assume that realtor has been in the business less than 12 months. Or am I too cynical? in reply to mattdollinger #
• RT @EricStegemann: OH @jimmarks "people don't give a rats butt about your featured listings, they want all listings" yup fail in industry #
• @1000wattmarc Call? People still do that? I'll ring you tomorrow in reply to 1000wattmarc #
• @thefoodgeek #FirstWednesdays is at X-lounge tonight. I'm not though in reply to thefoodgeek #
• @1000wattmarc Will you dm me your best email address? Want to share an IDX experience with you in reply to 1000wattmarc #
• Looking at the Homebuyer Tax Credit —S.Amdt. 2722 to H.R. 3548 http://post.ly/BdId #
• Just for fun, I searched for "tax credit" on Open Congress – http://bit.ly/4o0SlI – wish gov't would stop interfering #
• RT @gregrobertson: From 1000watt Blog: Is something big about to happen in online real estate? http://bit.ly/2mEpF8 (via @1000wattbrian) #
• Evidence of Pent-Up Demand in the Housing Market? http://post.ly/BbhB #
• @RT @coldwellbnkr: According to Google 54 percent consider the internet the most important resource for shopping for a home #thinkRE #
• RT @johnchapin: is trying to be patient, but where exactly is #firstwednesdays today? [Usually @cloudbrain is on it] #
• RT @realcrozetva ACAC – please remove your spammy signs in Crozet http://bit.ly/2LeHRJ #
• @billlublin be yourself. It's permanent. Private is often public. SM won't make you better at what you do; it's just a tool #top10sm in reply to billlublin #
• @morganb sadly, too few *want* to think for themselves in reply to morganb #
• RT @morganb: RT @copyblogger: "To find yourself, think for yourself." ~Socrates #
• @Steinarknutsen I have First Wednesdays on my calendar for tomorrow. @cloudbrain? #
• @billrisser All of the above, It's been 25 minutes & I'm getting there in reply to billrisser #
• @gingerw I'm getting the hang of it. I think. Works with what I'm trying to say & how I think in reply to gingerw #
• Frustrated with Prezi. #
• RT @DailyProgress: The Daily Progress is predicting that David Slutzky has lost the Rio District election. [WOW] #
• RT @RealEstateZebra: @TheCV that's a big deal. [Huge deal. Wow] #
• Wow. The Slutzky-Thomas race is a *race*! Looks like only about 100 votes separate them. #
• @mattrathbun the difference is that you 1) recognize the need to write well & 2) *try* to write well. So many do neither in reply to mattrathbun #
• Grateful that the weather was beautiful today. Rode my bike to parent-teacher conference. Sweet. #
• So far, Charlottesville City voter turnout pretty much sucks. http://bit.ly/12SpLz Albemarle's not much better. 18 & 25%? #
• RT @cvilletomorrow: At 1PM Albemarle Co. is at 25.9% voter turnout & City of Charlottesville reports 18.6% #
• Sheriff just told Slutzky to remove signs from medians. #
• At the polls at CATEC; second lunch rush starting. #vote #election #
• Debating a new rule: if you don't vote, I won't talk politics with you. #
• @ARDELLd the term "fair" is too arbitrary. How about "equal"? in reply to ARDELLd #
• RT @cvcvo: RT @GetOpenSpace: Come check out @getopenspace during our NEW weekend hours: Sat & Sun noon-6pm!Afterparty! #cvillerollingtweetup #
• RT @BobWoods: Very funny Redskins cartoon at Fredericksburg.com http://bit.ly/yUIBv #fb (via @londonink) #
• Hand Sanitizers vs. Soap and Water http://post.ly/BR7p #
• @TomRoyce But the preparation now will be good for later. in reply to TomRoyce #
• Must find time to play with/learn Google Wave. #
• RT @lovisatalk: RT @webtechman: RT @drnatalie: "the sociology is more important than the technology" per @TonyByrne #e2conf Brilliant! #
• Just voted. Please educate yourself & vote. #vote #
• RT @chrisbrogan: Anyone you know looking for a job? Here's a free ebook to help – http://bit.ly/2le6qB [@nikkihaffey] #
• RT @skydiver: “Bad politicians are sent to Washington by good people who don't vote.” -W.E Simon – Don't forget to vote 2day! #
• @gregslateragent http://pic.gd/02a19a don't let that person vote. Thet failed the test. in reply to gregslateragent #
• Vote tomorrow, dammit http://post.ly/BODp #
• @tboard @1000wattmarc the rules are set by & for the LCD. "Fair" is far too arbitrary. #
• Secretly Y'all … Sometimes I love Charlottesville http://post.ly/BO4j #
• RT @jsheehan200: RT @JimDuncan: Wave. [ Did you get it? ] [[I'm waving]] #
• Wave. #
• RT @BLarsonMpls: @robhahn @BeeRealty NARDiego interbroker comp/dual agency tweetup, 11/13 5:00 p.m., Marriott lobby – all welcome #
• Think we need a list of the best list. Categorized by location. And profession. And niceness. #
• In Waynesboro having video shot for a new listing. #
• @BLarsonMpls @BeeRealty @robhahn meetup at NARDiego? This is definitely a conversation that needs beer in reply to BLarsonMpls #
• RT @DailyProgress: ATN Bloggers: Read this http://bit.ly/IaVSz Skip to the subhead "A Deal on Sources". This could keep you out of jail. #
• A nice Albemarle countryside http://post.ly/BLW7 #
• @Marijean I have two invites out *there* but they're not making it *here* in reply to Marijean #
• @WicksPicks Nope. Now I'm frustrated. Not enough to lose sleep, but pretty much. in reply to WicksPicks #
• @BLarsonMpls @BeeRealty @robhahn But what if there were no dual agency? in reply to BLarsonMpls #
• Seriously, WTF? Where is my Wave? #googlewave #
• RT @nikkihaffey: looking for a new opportunity in C'ville…whatcha got? #
• @drewlawrence I'm more concerned with her judgement of eating at a Taco Bell in reply to drewlawrence #
• @acummings and what exactly differentiates them from truzillhomes? The others earn it. in reply to acummings #
• Re: short sales, lenders & market value – defining market value takes competence & prescience. #
• @robhahn @BLarsonMpls @BeeRealty unless lenders finance the commission, it may never work. I agree though; we need a change in reply to robhahn #
• @1000wattmarc imagine the low bar set by the Code of Ethics didn't exist. Agents knocking on listed homes' doors inducing change of agent in reply to 1000wattmarc #
• @1000wattmarc I actually heard of a market w/ 50% Realtors/ 50% agents. Big, negative impact in reply to 1000wattmarc #
• Some lenders won't report a short sale to the credit agencies. #lemmarshall #
• @robhahn @BeeRealty it would be bad for those buyer's agents not condident, sellers & lenders. Need more than 140 characters in reply to robhahn #
• @ProfessionalOne our industry's collective myopia is frustrating. There are beacons of hope, but getting them to take hold is challenging in reply to ProfessionalOne #
• @robhahn @BeeRealty I feel a post germinating. On buyer agency, buyer brokerage, mutual obligations & commissions in reply to robhahn #
• RT @stevewhitaker: @JimDuncan should we donate to you, or the team? [Either, but I think for me is better] #
• Charlottesville Twitter-ers -feel like donating a few bucks to fight prostate cancer? http://ow.ly/yz7B @jmckeever @stevewhitaker @BSpinosa #
• @ProfessionalOne it's why a lot of realtors don't put the price or address on ads. Remarkably short-sighted. in reply to ProfessionalOne #
• @robhahn @BeeRealty most buyers are neither willing nor able to pay commissions directly. But I agree they "should" in reply to robhahn #
• RT @robhahn: @BeeRealty I'm rather more for arguing the opposite; buyers should pay buyer agents directly, period. No sharing of commissions #
• Lem Marshall: "Lenders are desperate for short sales" #
• RT @JovanH: FYI @PatJensen is awake, @jimduncan is not-Let's see if Lem can help [prove it ] #
• In a class learning about short sales. Yay education #
• RT @erickelley: #cville #tweetup, #art show, #music Friday @paracoffee. 6-9. Be here. [are the students gone yet? ] #
• @nikiblack ugh. Hope she's better. I've been there. no fun. in reply to nikiblack #
• RT @nikiblack: Ridiculous amount of hacked accts and DM spam-don't click, folks:) [no kidding] #
• Shouldn't this be Section 1 of Health Care bill? http://post.ly/BIVf #
• Growing a ‘Stache To Raise Money to Fight Men’s Cancer http://post.ly/BFxF #
• Showing a 10k square foot place tomorrow. "House" seems inadequate http://bit.ly/2qFBCz #
• RT @PhxREguy: *Excellent*…. RT @doverbey: @PhxREguy @jsheehan200 There will be hair under my nose! #movember [I'm in] #
• RT @sjagger: RT @ubertor Video Syndication on Ubertor http://bit.ly/2Gp0aA – try it free, let us know what you think #
• @ProfessionalOne more schools aren't the answer. Better schools w/ better & more accountable parents are. in reply to ProfessionalOne #
• But. The Recession's Over. http://bit.ly/1UdfOt Right? #
• RT @deedstreet: RT @myeastbayagent: Wilbur Ross Sees Huge Commercial Real Estate Crash – Bloomberg http://bit.ly/59s0a ^CRE #
• Albemarle County schools don't have classes tomorrow. The mad scramble for child care begins anew #
• Blocked bunch of new Twitter followers, upgraded one blog to Thesis 1.6, soon to the gym. A nice cloudy day #
• RT @DRPnet: Keep CAAR members Earl and James Burton in your thoughts after a devastating house fire. Fortunately, no one was hurt. #
• Little one said this morning on our way back from the coffee shop: "another Halloween. Gone." #
• RT @gregslateragent: 10 second offer for help via twitter. Faster than motor club! Tow complete with ride to tiptop. Packed. #
• @TomRoyce @JimDuncan @ProfessionalOne Also, check out this Droid review. Seems a can't-lose option http://bit.ly/2ai04s in reply to TomRoyce #
• @ProfessionalOne @TomRoyce I have a feeling I'll be going Droid very soon. in reply to ProfessionalOne #
• @jmckeever a 10 am Sunday birthday party is insane. in reply to jmckeever #
• Morning at the Crozet Mudhouse http://post.ly/BCJV #

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From yesterday’s Daily Progress regarding the worsening Albemarle County budget (bolding mine):

The proposed 77.2-cent tax rate would mean the average homeowner would pay the same real-estate taxes as this year for the next two years, officials say. Assuming real-estate values begin to pick up, there would be a slight increase in tax bills in the third and fourth years, maxing out at a 3 percent increase in real-estate taxes five years from now, officials project.

Which officials are hopefully assuming that real estate values will pick up? And when?

Naturally, Charlottesville Tomorrow has a related story – Supervisors provide direction on balancing five-year financial plan.

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And this is a good thing, I think. Courtesy of Charlottesville Tomorrow:

Southern Development is donating an acre and a half of land to increase the size of Forest Hills Park in Charlottesville. The land, which is appraised at $90,000, is located between Forest Ridge Road and Antoinette Avenue. The donation, if approved at tonight’s City Council meeting, will increase the park’s size by 20%.

The 1.5 acres is adjacent to a new condominium complex currently under construction off of Rock Creek Road. The land is not visible from Forest Ridge Road, but it is adjacent to a trail which connects the park to the Johnson Village neighborhood.

When I heard Mayor Dave Norris say on the Corner radio station the other day that this is the largest increase in City park land since 1987, my ears perked up.

People want to live near “stuff” – and parks are part of this. One of the three homes for sale in Johnson Village has a Walk Score of 52 – pretty walkable (and much more bikeable).

Sure, Southern Development probably isn’t giving the land purely out of generosity, but why wouldn’t the City accept this donation of park land?

* Link to Johnson Village added by me

There are quite a few homes for sale around the Forest Hills Park:

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From friends at Blue Mountain Brewery:

Today is the release of our tasty Lights Out Holiday Ale. Available on draft & in six-packs here at the brewery. Today is also the first Thursday of the month which means it is Steal the Glass day, all day long. Buy a beer for $5 and you keep the logo glass it comes in, no limit on glass purchases.

Sweet. I’m not a fan of the crass, blatant, wasteful and repulsive commercialism that comes with the holiday season. I do love my family and spending time with them and friends.

Blue Mountain Brewery’s Lights Out is becoming my favorite way of welcoming in the holiday season.

Cross-posted at RealCrozetVA.

Copyright RealCentralVA.com, LLC. If you are not reading this at RealCentralVA.com the site you see is likely stealing content.

Update 7 November:

And it’s a Law.

Update 6 November 2009:

Charlottesville’s Representative Tom Perriello voted for the bill, which passed 403-12 with 18 abstensions.

Update 5 November 2009:

That was fast. The Senate, then the House, and now apparently Obama will sign the bill to extend unemployment benefits and the homebuyer tax credit Friday. As in, tomorrow.

More at CNBC.

Track the Bill at GovTrack.

The bill may now proceed to a conference committee of senators and representatives to work out differences in the versions of the bill each chamber approved. The bill then goes to the President before becoming law.

So, the Senate has spoken. It’s amazing how unanimous they can be when spending taxpayer money.

It’s no wonder our tax code is so remarkably complex and misunderstood; we are now talking about three different tax credits this year targeting homebuyers. From CNN:

The extension will cost $10.8 billion over 10 years, according to the Joint Committee on Taxation.

Through mid-September, 1.4 million tax returns had qualified for the credit, according to the IRS. Some portion of those returns, which the IRS couldn’t specify, represents buyers who took advantage of an earlier version of the tax credit, which was only worth $7,500 and has to be repaid over time.

The vote was 98 to 0.

The Extension: From December 1 2009 to May 1 2010.

Must close by: It appears to be 1 May 2010, but there is an exception that says “In the case of any taxpayer who enters into a written binding contract before May 1, 2010, to close on the purchase of a principal residence before July 1, 2010, paragraph (1) shall be applied by substituting `July 1, 2010′ for `May 1, 2010′.”.

“Move up” buyers: Instead of $8,000, the credit is $6,500.

“(6) EXCEPTION FOR LONG-TIME RESIDENTS OF SAME PRINCIPAL RESIDENCE.–In the case of an individual (and, if married, such individual’s spouse) who has owned and used the same residence as such individual’s principal residence for any 5-consecutive-year period during the 8-year period ending on the date of the purchase of a subsequent principal residence, such individual shall be treated as a first-time homebuyer for purposes of this section with respect to the purchase of such subsequent residence.”.

“(3) LIMITATION BASED ON PURCHASE PRICE.–No credit shall be allowed under subsection (a) for the purchase of any residence if the purchase price of such residence exceeds $800,000.”.

This Amendment does not apply to the current tax credit:

(2) EXTENSIONS.–The amendments made by subsections (a), (f), and (i) shall apply to residences purchased after November 30, 2009.

At least they had the decency to state that TARP recipients are not eligible.

(f) Exception for TARP Recipients.–The amendments made by this section shall not apply to–

(1) any taxpayer if–

(A) the Federal Government acquired before the date of the enactment of this Act an equity interest in the taxpayer pursuant to the Emergency Economic Stabilization Act of 2008,

(B) the Federal Government acquired before such date of enactment any warrant (or other right) to acquire any equity interest with respect to the taxpayer pursuant to the Emergency Economic Stabilization Act of 2008, or

Full text of the Amendment after the “fold”:

And at GovTrak and OpenCongress.

Via Twitter > Yahoo > Govtrak > Here.

SEC. 11. EXTENSION AND MODIFICATION OF FIRST-TIME HOMEBUYER TAX CREDIT.

(a) Extension of Application Period.–

(1) IN GENERAL.–Subsection (h) of section 36 of the Internal Revenue Code of 1986 is amended–

(A) by striking “December 1, 2009” and inserting “May 1, 2010”,

(B) by striking “Section.–This section” and inserting “Section.–

“(1) IN GENERAL.–This section”, and

(C) by adding at the end the following new paragraph:

“(2) EXCEPTION IN CASE OF BINDING CONTRACT.–In the case of any taxpayer who enters into a written binding contract before May 1, 2010, to close on the purchase of a principal residence before July 1, 2010, paragraph (1) shall be applied by substituting `July 1, 2010′ for `May 1, 2010′.”.

(2) WAIVER OF RECAPTURE.–

(A) IN GENERAL.–Subparagraph (D) of section 36(f)(4) of such Code is amended by striking “, and before December 1, 2009”.

(B) CONFORMING AMENDMENT.–The heading of such subparagraph (D) is amended by inserting “AND 2010” after “2009”.

(3) ELECTION TO TREAT PURCHASE IN PRIOR YEAR.–Subsection (g) of section 36 of such Code is amended to read as follows:

“(g) Election to Treat Purchase in Prior Year.–In the case of a purchase of a principal residence after December 31, 2008, a taxpayer may elect to treat such purchase as made on December 31 of the calendar year preceding such purchase for purposes of this section (other than subsections (c), (f)(4)(D), and (h)).”.

(b) Special Rule for Long-Time Residents of Same Principal Residence.–Subsection (c) of section 36 of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:

“(6) EXCEPTION FOR LONG-TIME RESIDENTS OF SAME PRINCIPAL RESIDENCE.–In the case of an individual (and, if married, such individual’s spouse) who has owned and used the same residence as such individual’s principal residence for any 5-consecutive-year period during the 8-year period ending on the date of the purchase of a subsequent principal residence, such individual shall be treated as a first-time homebuyer for purposes of this section with respect to the purchase of such subsequent

residence.”.

(c) Modification of Dollar and Income Limitations.–

(1) DOLLAR LIMITATION.–Subsection (b)(1) of section 36 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:

“(D) SPECIAL RULE FOR LONG-TIME RESIDENTS OF SAME PRINCIPAL RESIDENCE.–In the case of a taxpayer to whom a credit under subsection (a) is allowed by reason of subsection (c)(6), subparagraphs (A), (B), and (C) shall be applied by substituting `$6,500′ for `$8,000′ and `$3,250′ for `$4,000′.”.

(2) INCOME LIMITATION.–Subsection (b)(2)(A)(i)(II) of section 36 of such Code is amended by striking “$75,000 ($150,000” and inserting “$125,000 ($225,000”.

(d) Limitation on Purchase Price of Residence.–Subsection (b) of section 36 of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:

“(3) LIMITATION BASED ON PURCHASE PRICE.–No credit shall be allowed under subsection (a) for the purchase of any residence if the purchase price of such residence exceeds $800,000.”.

(e) Waiver of Recapture of First-Time Homebuyer Credit for Individuals on Qualified Official Extended Duty.–Paragraph (4) of section 36(f) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:

“(E) SPECIAL RULE FOR MEMBERS OF THE ARMED FORCES, ETC.–

“(i) IN GENERAL.–In the case of the disposition of a principal residence by an individual (or a cessation referred to in paragraph (2)) after December 31, 2008, in connection with Government orders received by such individual, or such individual’s spouse, for qualified official extended duty service–

“(I) paragraph (2) and subsection (d)(2) shall not apply to such disposition (or cessation), and

“(II) if such residence was acquired before January 1, 2009, paragraph (1) shall not apply to the taxable year in which such disposition (or cessation) occurs or any subsequent taxable year.

“(ii) QUALIFIED OFFICIAL EXTENDED DUTY SERVICE.–For purposes of this section, the term `qualified official extended duty service’ means service on qualified official extended duty as–

“(I) a member of the uniformed services,

“(II) a member of the Foreign Service of the United States, or

“(III) an employee of the intelligence community.

“(iii) DEFINITIONS.–Any term used in this subparagraph which is also used in paragraph (9) of section 121(d) shall have the same meaning as when used in such paragraph.”.

(f) Extension of First-Time Homebuyer Credit for Individuals on Qualified Official Extended Duty Outside the United States.–

(1) IN GENERAL.–Subsection (h) of section 36 of the Internal Revenue Code of 1986, as amended by subsection (a), is amended by adding at the end the following:

“(3) SPECIAL RULE FOR INDIVIDUALS ON QUALIFIED OFFICIAL EXTENDED DUTY OUTSIDE THE UNITED STATES.–In the case of any individual who serves on qualified official extended duty service (as defined in section 121(d)(9)(C)(i)) outside the United States for at least 90 days during the period beginning after December 31, 2008, and ending before May 1, 2010, and, if married, such individual’s spouse–

“(A) paragraphs (1) and (2) shall each be applied by substituting `May 1, 2011′ for `May 1, 2010′, and

“(B) paragraph (2) shall be applied by substituting `July 1, 2011′ for `July 1, 2010′.”.

(g) Dependents Ineligible for Credit.–Subsection (d) of section 36 of the Internal Revenue Code of 1986 is amended by striking “or” at the end of paragraph (1), by striking the period at the end of paragraph (2) and inserting “, or”, and by adding at the end the following new paragraph:

“(3) a deduction under section 151 with respect to such taxpayer is allowable to another taxpayer for such taxable year.”.

(h) IRS Mathematical Error Authority.–Paragraph (2) of section 6213(g) of the Internal Revenue Code of 1986 is amended–

(1) by striking “and” at the end of subparagraph (M),

(2) by striking the period at the end of subparagraph (N) and inserting “, and”, and

(3) by inserting after subparagraph (N) the following new subparagraph:

“(O) an omission of any increase required under section 36(f) with respect to the recapture of a credit allowed under section 36.”.

(i) Coordination With First-Time Homebuyer Credit for District of Columbia.–Paragraph (4) of section 1400C(e) of the Internal Revenue Code of 1986 is amended by striking “and before December 1, 2009,”.

(j) Effective Dates.–

(1) IN GENERAL.–The amendments made by subsections (b), (c), (d), and (g) shall apply to residences purchased after the date of the enactment of this Act.

(2) EXTENSIONS.–The amendments made by subsections (a), (f), and (i) shall apply to residences purchased after November 30, 2009.

(3) WAIVER OF RECAPTURE.–The amendment made by subsection (e) shall apply to dispositions and cessations after December 31, 2008.

(4) MATHEMATICAL ERROR AUTHORITY.–The amendments made by subsection (h) shall apply to returns for taxable years ending on or after April 9, 2008.

SEC. 12. PROVISIONS TO ENHANCE THE ADMINISTRATION OF THE FIRST-TIME HOMEBUYER TAX CREDIT.

(a) Age Limitation.–

(1) IN GENERAL.–Subsection (b) of section 36 of the Internal Revenue Code of 1986, as amended by this Act, is amended by adding at the end the following new paragraph:

“(4) AGE LIMITATION.–No credit shall be allowed under subsection (a) with respect to the purchase of any residence unless the taxpayer has attained age 18 as of the date of such purchase. In the case of any taxpayer who is married (within the meaning of section 7703), the taxpayer shall be treated as meeting the age requirement of the preceding sentence if the taxpayer or the taxpayer’s spouse meets such age requirement.”.

(2) CONFORMING AMENDMENT.–Subsection (g) of section 36 of such Code, as amended by this Act, is amended by inserting “(b)(4),” before “(c)”.

(b) Documentation Requirement.–Subsection (d) of section 36 of the Internal Revenue Code of 1986, as amended by this Act, is amended by striking “or” at the end of paragraph (2), by striking the period at the end of paragraph (3) and inserting “, or”, and by adding at the end the following new paragraph:

“(4) the taxpayer fails to attach to the return of tax for such taxable year a properly executed copy of the settlement statement used to complete such purchase.”.

(c) Restriction on Married Individual Acquiring Residence From Family of Spouse.–Clause (i) of section 36(c)(3)(A) of the Internal Revenue Code of 1986 is amended by inserting “(or, if married, such individual’s spouse)” after “person acquiring such property”.

(d) Certain Errors With Respect to the First-Time Homebuyer Tax Credit Treated as Mathematical or Clerical Errors.–Paragraph (2) of section 6213(g) the Internal Revenue Code of 1986, as amended by this Act, is amended by striking “and” at the end of subparagraph (N), by striking the period at the end of subparagraph (O) and inserting “, and”, and by inserting after subparagraph (O) the following new subparagraph:

“(P) an entry on a return claiming the credit under section 36 if–

“(i) the Secretary obtains information from the person issuing the TIN of the taxpayer that indicates that the taxpayer does not meet the age requirement of section 36(b)(4),

“(ii) information provided to the Secretary by the taxpayer on an income tax return for at least one of the 2 preceding taxable years is inconsistent with eligibility for such credit, or

“(iii) the taxpayer fails to attach to the return the form described in section 36(d)(4).”.

(e) Effective Date.–

(1) IN GENERAL.–Except as otherwise provided in this subsection, the amendments made by this section shall apply to purchases after the date of the enactment of this Act.

(2) DOCUMENTATION REQUIREMENT.–The amendments made by subsection (b) shall apply to returns for taxable years ending after the date of the enactment of this Act.

(3) TREATMENT AS MATHEMATICAL AND CLERICAL ERRORS.–The amendments made by subsection (d) shall apply to returns for taxable years ending on or after April 9, 2008.

SEC. 13. 5-YEAR CARRYBACK OF OPERATING LOSSES.

(a) In General.–Subparagraph (H) of section 172(b)(1) of the Internal Revenue Code of 1986 is amended to read as follows:

“(H) CARRYBACK FOR 2008 OR 2009 NET OPERATING LOSSES.–

“(i) IN GENERAL.–In the case of an applicable net operating loss with respect to which the taxpayer has elected the application of this subparagraph–

“(I) subparagraph (A)(i) shall be applied by substituting any whole number elected by the taxpayer which is more than 2 and less than 6 for `2′,

“(II) subparagraph (E)(ii) shall be applied by substituting the whole number which is one less than the whole number substituted under subclause (I) for `2′, and

“(III) subparagraph (F) shall not apply.

“(ii) APPLICABLE NET OPERATING LOSS.–For purposes of this subparagraph, the term `applicable net operating loss’ means the taxpayer’s net operating loss for a taxable year ending after December 31, 2007, and beginning before January 1, 2010.

“(iii) ELECTION.–

“(I) IN GENERAL.–Any election under this subparagraph may be made only with respect to 1 taxable year.

“(II) PROCEDURE.–Any election under this subparagraph shall be made in such manner as may be prescribed by the Secretary, and shall be made by the due date (including extension of time) for filing the return for the taxpayer’s last taxable year beginning in 2009. Any such election, once made, shall be irrevocable.

“(iv) LIMITATION ON AMOUNT OF LOSS CARRYBACK TO 5TH PRECEDING TAXABLE YEAR.–

“(I) IN GENERAL.–The amount of any net operating loss which may be carried back to the 5th taxable year preceding the taxable year of such loss under clause (i) shall not exceed 50 percent of the taxpayer’s taxable income (computed without regard to the net operating loss for the loss year or any taxable year thereafter) for such preceding taxable year.

“(II) CARRYBACKS AND CARRYOVERS TO OTHER TAXABLE YEARS.–Appropriate adjustments in the application of the second sentence of paragraph (2) shall be made to take into account the limitation of subclause (I).

“(III) EXCEPTION FOR 2008 ELECTIONS BY SMALL BUSINESSES.–Subclause (I) shall not apply to any loss of an eligible small business with respect to any election made under this subparagraph as in effect on the day before the date of the enactment of the Worker, Homeownership, and Business Assistance Act of 2009.

“(v) SPECIAL RULES FOR SMALL BUSINESS.–

“(I) IN GENERAL.–In the case of an eligible small business which made or makes an election under this subparagraph as in effect on the day before the date of the enactment of the Worker, Homeownership, and Business Assistance Act of 2009, clause (iii)(I) shall be applied by substituting `2 taxable years’ for `1 taxable year’.

“(II) ELIGIBLE SMALL BUSINESS.–For purposes of this subparagraph, the term `eligible small business’ has the meaning given such term by subparagraph (F)(iii), except that in applying such subparagraph, section 448(c) shall be applied by substituting `$15,000,000′ for `$5,000,000′ each place it appears.”.

(b) Alternative Tax Net Operating Loss Deduction.–Subclause (I) of section 56(d)(1)(A)(ii) of the Internal Revenue Code of 1986 is amended to read as follows:

“(I) the amount of such deduction attributable to an applicable net operating loss with respect to which an election is made under section 172(b)(1)(H), or”.

(c) Loss From Operations of Life Insurance Companies.–Subsection (b) of section 810 of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:

“(4) CARRYBACK FOR 2008 OR 2009 LOSSES.–

“(A) IN GENERAL.–In the case of an applicable loss from operations with respect to which the taxpayer has elected the application of this paragraph, paragraph (1)(A) shall be applied by substituting any whole number elected by the taxpayer which is more than 3 and less than 6 for `3′.

“(B) APPLICABLE LOSS FROM OPERATIONS.–For purposes of this paragraph, the term `applicable loss from operations’ means the taxpayer’s loss from operations for a taxable year ending after December 31, 2007, and beginning before January 1, 2010.

“(C) ELECTION.–

“(i) IN GENERAL.–Any election under this paragraph may be made only with respect to 1 taxable year.

“(ii) PROCEDURE.–Any election under this paragraph shall be made in such manner as may be prescribed by the Secretary, and shall be made by the due date (including extension of time) for filing the return for the taxpayer’s last taxable year beginning in 2009. Any such election, once made, shall be irrevocable.

“(D) LIMITATION ON AMOUNT OF LOSS CARRYBACK TO 5TH PRECEDING TAXABLE YEAR.–

“(i) IN GENERAL.–The amount of any loss from operations which may be carried back to the 5th taxable year preceding the taxable year of such loss under subparagraph (A) shall not exceed 50 percent of the taxpayer’s taxable income (computed without regard to the loss from operations for the loss year or any taxable year thereafter) for such preceding taxable year.

“(ii) CARRYBACKS AND CARRYOVERS TO OTHER TAXABLE YEARS.–Appropriate adjustments in the application of the second sentence of paragraph (2) shall be made to take into account the limitation of clause (i).”.

(d) Anti-Abuse Rules.–The Secretary of the Treasury or the Secretary’s designee shall prescribe such rules as are necessary to prevent the abuse of the purposes of the amendments made by this section, including anti-stuffing rules, anti-churning rules (including rules relating to sale-leasebacks), and rules similar to the rules under section 1091 of the Internal Revenue Code of 1986 relating to losses from wash sales.

(e) Effective Dates.–

(1) IN GENERAL.–Except as otherwise provided in this subsection, the amendments made by this section shall apply to net operating losses arising in taxable years ending after December 31, 2007.

(2) ALTERNATIVE TAX NET OPERATING LOSS DEDUCTION.–The amendment made by subsection (b) shall apply to taxable years ending after December 31, 2002.

(3) LOSS FROM OPERATIONS OF LIFE INSURANCE COMPANIES.–The amendment made by subsection (d) shall apply to losses from operations arising in taxable years ending after December 31, 2007.

(4) TRANSITIONAL RULE.–In the case of any net operating loss (or, in the case of a life insurance company, any loss from operations) for a taxable year ending before the date of the enactment of this Act–

(A) any election made under section 172(b)(3) or 810(b)(3) of the Internal Revenue Code of 1986 with respect to such loss may (notwithstanding such section) be revoked before the due date (including extension of time) for filing the return for the taxpayer’s last taxable year beginning in 2009, and

(B) any application under section 6411(a) of such Code with respect to such loss shall be treated as timely filed if filed before such due date.

(f) Exception for TARP Recipients.–The amendments made by this section shall not apply to–

(1) any taxpayer if–

(A) the Federal Government acquired before the date of the enactment of this Act an equity interest in the taxpayer pursuant to the Emergency Economic Stabilization Act of 2008,

(B) the Federal Government acquired before such date of enactment any warrant (or other right) to acquire any equity interest with respect to the taxpayer pursuant to the Emergency Economic Stabilization Act of 2008, or

(C) such taxpayer receives after such date of enactment funds from the Federal Government in exchange for an interest described in subparagraph (A) or (B) pursuant to a program established under title I of division A of the Emergency Economic Stabilization Act of 2008 (unless such taxpayer is a financial institution (as defined in section 3 of such Act) and the funds are received pursuant to a program established by the Secretary of the Treasury for the stated purpose of increasing the availability

of credit to small businesses using funding made available under such Act), or

(2) the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation, and

(3) any taxpayer which at any time in 2008 or 2009 was or is a member of the same affiliated group (as defined in section 1504 of the Internal Revenue Code of 1986, determined without regard to subsection (b) thereof) as a taxpayer described in paragraph (1)

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Three things:

1 – David Slutzky losing is huge.

2 – If you think your vote doesn’t count, think again.

3 – Local elections matter.

Lots of discussion in the Charlottesville news:

- Daily Progress
- cvillenews

- The HooK
- C-ville
- VPAP (via Twitter:

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If you’re wondering where to vote in Charlottesville or Albemarle (or anywhere in Virginia, really:

This is Charlottesville Tomorrow’s Voter Guide for Charlottesville and Albemarle elections. It’s never too late to become an educated voter!

—-
Photo Courtesy of.

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There’s never been a better time or reason to grow one.

I’ve never had a mustache before, and really, if I can’t have a little bit of fun with my facial hair and hopefully raise a bit of money to fight men’s cancer, what good is waking up everyday? Life’s to short to take oneself too seriously.

WCAV noted earlier this month that “Over one in ten men in Charlottesville who get a prostate screening at Martha Jefferson Hospital have abnormal results.”

I may even run in The Charlottesville Men’s Four Miler Training Program and Fun Run December 5, 2009 in Free Union (but my bum ankle may prevent this).

If you feel so inclined, please donate here.

The beneficiaries of the donation are the Livestrong Foundation and the Prostate Cancer Foundation.

As many of my clients and friends know, I tend to grow a beard every Fall-Winter, for no reason other than I’m still able to grow hair on my face. This year, inspired by my friend Jay, I’ve decided to shave off my beard for the month of November.

From the Movember site:

This Movember, the money raised in the U.S. will be split between the Prostate Cancer Foundation and the Lance Armstrong Foundation.

The Prostate Cancer Foundation will use the money raised by Movember to fund research to find better treatments and a cure for prostate cancer.

The Lance Armstrong Foundation will use the money raised by Movember to fund:
• the LIVESTRONG Young Adult Alliance program which has the goal of improving survival rates and quality of life for young adults with cancer between the ages of 15 and 40.
• research initiatives to further understand the biology of adolescent and young adult cancers.

To date, Movember has raised $47 million globally making it the world’s largest charity event for men. Significantly, awareness of men’s health issues has improved with Movember helping to spread important health messages directly to millions of Mo Bros & Sistas around the world.

We challenge you to join us in changing the face of men’s health.

For further information, visit The Movember Foundation.

Before

After

If you can, please consider giving a few bucks.

There’s also a Prostate Cancer Support Group in Charlottesville

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• What I learned today: cut white onions when painting & they will absorb the paint smell. #
• Heading off to meet a buyer; it's a beautiful day so I'm riding my bike. #
• Fixed, I think. #
• @twitter – help, please. People are getting DMs from me that I'm not sending. #
• @WeronikaJanczuk @lauramartone – I changed my password to a crazy long one about two hours ago #
• RT @BLarsonMpls: From Fernando on FB: "Light travels faster than sound. That's why some people appear bright until you hear them speak" #
• Google Shrinks Another Market With Free Turn-By-Turn Navigation http://post.ly/AhkJ #
• @jimsissy Darn it. Just changed my password. in reply to jimsissy #
• @Swanepoel Nat'l MLS in 8 years. Or 22. Realtor/staff politics are interminable & often impenetrable. in reply to Swanepoel #
• RT @Audreyforshey: $950 FHA appraisal fee? Now that's watching out for the consumer, thanks a lot HVCC #Fail #
• RT @CZ: RT @JNels: Droid from Verizon Wireless . . .When, when, when? [Will GPS be unlocked?] #
• RT @hchorey: Dear Ryan Homes: I know I looked at a model home once last year, but the fact that you sent me 5 mailings y'day is crazy. Stop. #
• Happy birthday @respres #
• @TomRoyce @blockrealestate w/o the classrooms, there wouldn't be the impetus to move to the hallways. what's this say about classes? in reply to TomRoyce #
• Home. I always miss the bat at barcamps. Learned a bit at #rebcdc today. Thank goodness for the hallways. #
• Bad wreck at 29 & Rio #
• RT @DaniloB: RT @PhxREguy: Best article I've seen on why NOT to extend homebuyer tax credit (Wash Post): http://bit.ly/Gr4di ^^ #
• @mortgagereports I want the truth. in reply to mortgagereports #
• @mortgagereports it seems that all Congress can do is speculate. I just want clarity one way or the other in reply to mortgagereports #
• Senator says Senate will extend, reduce home-buyer credit (via @mortgagereports) http://post.ly/AYEx #
• @digitalpure seo #
• RT @DRPnet: Extension of homebuying tax credit proposed to 4/30/09 with 60 day extension if contract is ratified by 4/30. [by whom?] #
• Negotiating an offer & a home inspection whilst at #rebcdc #
• @globedope to deactivate the google forward, just click de-activate the voice mail & type in the code it prompts in reply to globedope #
• @Tiaraisawonder Check out 106.1 – The Corner – and 1070 am in reply to Tiaraisawonder #
• 1st impressions on Google Voice voice mail – takes >30 rings to pick up, transcriptions are wonky. #
• @NRVLiving Voice mail > Settings > "Activate google voice mail" … But – Verizon won't let me type an * – dammit in reply to NRVLiving #
• @TomRoyce so give 'em all $100k. in reply to TomRoyce #
• @MaureenFrancis got a link for the step-by-step? in reply to MaureenFrancis #
• @dcrealtorgirl What I'm aiming to learn today is going to be a hallway conversation in reply to dcrealtorgirl #
• Learning some good stuff today at #rebcdc – that will be – importantly – applicable for my clients. #
• I have *one* thing I need help with/need to learn at #rebcdc. Hoping it can be answered in one of the advanced sessions #
• Hoping there's a coffee shop near #rebcdc. #
• Google Voice Can Now Take Control Of Your Mobile Voicemail http://post.ly/ASgX #
• Up way too early – heading to DC #rebcdc #
• It seems that the last time I flipped by the Jay Leno show, he was doing Headlines. Does he do them every night? #
• @drewlawrence Join me. I'm now a #JETS fan. Until the Redskins have a new owner. in reply to drewlawrence #
• @mattrathbun Nope. I too am against it. Long-term versus short-term thinking, I guess. in reply to mattrathbun #
• @NRVLiving Awesome. And … I'll see your heater – http://bit.ly/1mvNT8 http://post.ly/AP2h #
• @mattrathbun I'm curious how many Realtors are opposed to the homebuyer tax credit. #
• @cvcvo Will you please follow me? Then I'll respond. #
• CVillan site is so much less relevant to me now. Is it just me? #
• Being prompted to show my I'd for *cough syrup* – priceless (I didn't). #
• Home inspection over. Still lots to do tomorrow. Looking forward to #rebcdc tomorrow. Not looking forward to leaving at 0500. #
• RT @vpapupdates: 90 minutes until VPAP posts the 10/26 campaign finance reports: http://www.vpap.org/updates/show/402 [follow the money!] #
• At a home inspection in Charlottesville http://post.ly/AMnZ #
• Google came through Crozet this summer – can you find yourself? http://bit.ly/2s9uCy #
• @mikesimonsen I'll be there tomorrow. Home inspection this afternoon, negotiating 2 offers. Have some great stuff to share w/ you #rebcdc in reply to mikesimonsen #
• Irony: an email asking if an association sends too much email. #
• @TomRoyce are you making that up? A red bandana to signify saying no to drugs? in reply to TomRoyce #
• Some Perspective With your Morning Coffee http://post.ly/AJkl #
• Yep, comcast is down again. Frustrated. Frustrated also that I lost the phone # of the contact who tried to help me. #
• Been on hold w/ Comcast for 15 minutes; trying out my neighbor's DSL. At least his is up. #
• @DaveInTucson flood cars::REO/foreclosures does not equate. Flood cars are damaged. REOs have damaged value, not physical in reply to DaveInTucson #
• Appraisers: should appraisers try to avoid using foreclosures/REOs? (I say no) ^^ #
• Negotiating an offer. Yay Sunday morning. #
• Watching Meet the Press. For some reason, referring to "Leader Reid" troubles/bothers/a little bit frightens me #

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Have a look at Patricia Kluge’s estate in Southern Albemarle County.

From the Wall Street Journal:

Virginia winemaker and philanthropist Patricia Kluge is offering her 300-acre English country estate in Charlottesville, Va., for $100 million, one of the most expensive listings in the U.S.
…
The property includes a pool, pool house, log cabin, a greenhouse and several staff cottages. There are three stocked ponds, gardens, and a croquet lawn. The front grounds can be converted to an 18-hole golf course, for which designs by Arnold Palmer exist. Ms. Kluge also runs a Virginia winery that bears her name.

C-Ville notes: But not the vineyard.

Why oh, why is the property not listed in the Charlottesville MLS?

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Homes placed under Contract in Charlottesville and Albemarle in the month of October:

These numbers do not reflect much new construction or properties that will not proceed to closing for any number of reasons, such as home inspection negotiations not coming to terms, financing issues, etc.

As I mentioned last week, we may be seeing a blip of hope.

(in light of the anticipated wave of foreclosures and short sales, combined with Charlottesville area unemployment numbers, take this blip with a grain of salt. But it’s a glimmer nonetheless.)

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Re-purposing a post from my posterous:

If Google announcing their GPS did this to Garmin’s and Tom Tom’s stocks,

What’s this going to do to Realtors’?

Google announced a big real estate move about two hours ago: listings can now be viewed on any Google Map by clicking on the “More” button, a position heretofore reserved for photos, transit information and other overlays.

As I wrote in 2006:

Being able to successfully represent clients will define the future of this profession. There is much online competition for the real estate industry – Zillow, Trulia, Redfin, Google -  that will fragment real estate search. Picking up the pieces by representing clients and their best interests will define the successful Realtor. No amount of online data will replace a walking into a basement and immediately knowing whether there has been water infiltration recently, or whether the wood floors are real 3/4 inch wood or a laminate-type product.

Google changes everything.

Those Realtors who depend on the MLS as their sole (or primary) value-add need to find new careers.

A good (or great!) Realtor offers at least the following:

- Context
- Information

- Local knowledge
- Data Interpretation
- Negotiating
- Counseling, psychology, philosophy, market predictions, market interpretation
- And a whole lot more.

One of the benefits of writing a real estate blog in Charlottesville for nearly five years is the archives.

Looking back at what I wrote in 2005, it looks like Google has improved a little bit:

Limitations (to the former Google Base):
- simply too much information
- mapping aspects of Google are limited; identifying specific property addresses is not accurate. I have had to identify the properties with the town or the zip code rather than the actual property address.

- the search aspect is not yet refined. How can someone search for a three bedroom, two bath home with at least 1800 square feet on at least .3 acres in the Henley Middle School district?

- there is not yet a consistent search criteria used by all posters

- The search results (at least for now) seem to be too easily manipulated by bulk submitters.

More of what I’ve written over the years about Google and real estate.

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It looks like the homebuyer tax credit will (likely) be extended. Maybe.

Via Calculated Risk and Bloomberg:

- Income eligibility for home buyers increases to $125,000 for individuals and $225,000 for couples.

- The tax credit for first-time home buyers (anyone who has not owned in the last 3 years) will be the lesser of $8,000 or 10% of the purchase price.

- For move-up buyers – “who have lived in their current home for at least five years” – the credit would be limited to $6,500.

- The credit runs from Dec. 1, 2009 to April 30, 2010, with an additional 60 day period to close escrow. (So end of April to sign contract, end of June to close escrow)

At least they are addressing move-up moving homebuyers, but will $6,500 be enough to incentivevize someone to sell their house and buy another?

Remember, kids, the Senate is only one branch of the people we have elected to spend our money.

I’m not in favor of artificially supporting any market, but at the very least we may be on the path to some clarity … one of the worst things the government can do is confuse the public – they need to put these questions to rest:

- Should we wait for the credit?
- Should we buy now to get the $8,000 tax credit?
- Should we wait to see if the credit will be $15,000?

Get rid of the shoulds and let the market work.

The Charlottesville real estate market is not protected – from the economy, from national trends, from unemployment – from anything really. We need to move on. Let’s hope they vote on this quickly so homebuyers in Charlottesville and everywhere else can find clarity (at least regarding the tax credit).

I wonder if we can get some assurance from the politicians that this time, they really mean it – the tax credit will expire.

Updated 29 October 2009:

Expanded Home Buyer Tax Credit to Cost $10.8 Billion

*The credit is available for homes that go under contract by April 30, 2010 and close within 60 days after that.

*It will be attached to a bill to extend unemployment benefits, but it’s unclear when that bill will be voted on.

Related reading:

Senate Nears Deal on Keeping Tax Credit for Home Buyers

If you want to do what you can to kill this pestilential home-buyers’ tax credit…

Home Buyer Tax Credit Could Soon Be Extended, Expanded

For the life of me, I can’t find the bill on GovTrack.

Apparently, there’s a reason for that.

Photo courtesy.

Copyright RealCentralVA.com, LLC. If you are not reading this at RealCentralVA.com the site you see is likely stealing content.

In 2006, I was a few years early in my prediction.

There’s a place for print media, and advertising homes for sale in Charlottesville ain’t it.

Branding a brand – or brokerage – consistently in print gives readers the impression (and illusion as the case may be) that a brokerage is viable and successful.

“Have you heard of Google? Search “Gourmet”! There’s a ton of sh*t.

For those unfamiliar with Gary Vaynerchuk:

But in less than three years, Vaynerchuk has built an audience of 80,000 for his daily podcasts on wines good, bad and mediocre. That’s enough people watching to fill the Meadowlands every day.

With Wine Library TV, Vaynerchuk has taken what was an ordinary, family liquor store in Springfield, N.J., and turned it into a multimillion-dollar wine Mecca (Vaynerchuk’s father, Sasha, is president and CEO of the business). He’s done it by making himself the online voice of a large, passionate and loud community of wine drinkers united in demanding more honesty and less marketing about what’s inside the bottle.

Have a look at Nest Realty Group’s print ads:

Nest Realty Group Print Ad

Nest Realty Group Print Ad

Copyright RealCentralVA.com, LLC. If you are not reading this at RealCentralVA.com the site you see is likely stealing content.

There’s more to the Charlottesville real estate market than data – it’s crucial to look beyond the numbers.

Transcription:

Jim Duncan from RealCentralVA.com here. It’s Monday morning and I’m nursing a sore throat.

But I wanted to talk about how the Charlottesville and Albemarle real estate markets are full of anomalies and anecdotes that can clarify and confuse.

Here are two examples that are not reflected when you look at any of the market data out there, even the in-depth analysis provided my reports and by the next reports. There a house that’s been on the market in Albemarle on and off for about a year and half to two years; purchased in, I believe, June or September of 2006 for $326,000, and is on the market now for $279,000.

How does that factor in when you’re looking at things? Clearly, the person is in, probably, dire straits and needs to sell; but how badly can he or she need to sell if they’re not willing and able to put their house on the market at a price that’s going to cause it to be under contract and sold?

And the other side of the spectrum is a house that came onto the market in the City of Charlottesville Friday night/Saturday morning and was under contract in less than a day. How does that one figure in?

Clearly, they might be an outliers, but it’s not uncommon, as with the one that is the person who is $50,000/$60,000 in the hole when you look at the top level numbers.

When you’re look at our real estate market, you have to use the national and statewide trends as guides, but grant them only so much credibility because they don’t apply to the Charlottesville/Albemarle/Greene real estate markets.

They just don’t. So, when you’re looking at properties you may or may not be willing to purchase, look at the data, look at the hard numbers that are relative to specific to that property.

The stuff that’s in the city is not a comparison to stuff that’s in the county, and Albemarle County is not comparable to stuff that’s in another county, or even within five square miles of each other.

So, what I’m saying is, Yes, there are outliers, there are anecdotes and there are anomalies, but when you’re looking at the numbers, you have to do diligence, hard numbers, hard analysis.

If you have any questions, Jim Duncan, RealCentralVA.com. Have a good day.

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