Maybe Charlottesville Real Estate is Hurting more than we think. Jim has a great post on the statistics of our housing market.
News? We have over a full year of inventory of houses on the market. Bring out your cash books in a few months if you have any money right now. This looks pretty nasty.
[Read the full story at RealCentralVA.com]
Related posts:
- Interview with the Villains of Charlottesville’s Real Estate Bubble Blog
- Real Estate Assessments Up. Charlottesville laughs and spits in your face and then throws you in the gutter
- Cville Real Estate Blogging is Self-Promoting LAMENESS
I could have told you all this. The rent in Cville is dropping and housing are just sitting on the market waiting to be sold. The main reason I believe this is making an impact is because locals refuse to admit any sort of “issue” aka real eastate problems could come to the area, so they refuse to drop prices accordingly. It will hurt the area in the long run and is already showing signs of rearing its ugly head.
I WISH rent in Cville was dropping.
We’re looking for a place for August and everything we’re finding so far is either crap, nasty neighborhood, or too expensive for what it is.
i’m looking for a new apt, too and am finding rents to be wildly varied. Some places are really overpriced. Some places are really underpriced. There seems to be a glut of rentals. It’s a tenant’s market…but not everyone seems to realize it. I find myself thinking silently to some landlords “You DO realize that I can get a bigger, newer apt with cable and internet included for less, right?”
It used to be that the good deals came from individual property owners (as opposed to big complexes and groups like MSC). The stereotypical old lady renting out her basement. But now it seems that the big complexes (College Park) are severely undercutting on prices to pull people in.
When you want to rent a place, call em up and offer them a few hundred less per month. They’ll take it, they have to right now.
4: clarence gets it right. The first time a roommate and I counter-offered on a rental price, we were like, “Can we actually do this?” Totally worked, and the landlord came down around $75 in addition to installing a dishwasher (which was listed among the reasons in our counter-offer).
UvaGrape- So, assuming an apartment, two bedroom, is nice, clean, some amenities, and walking-distance location, what do you think is high rent? what do you think is average???
Careful, Grape: ditto’s the landlord.
just wondering…if everyone’s saying the rents are going down, what is down? I always think of a university town staying pretty static..
I think that its a rentors market now simply cause there is a glut …with lots of new structures added recently …
8: Oh, I was just joshing you. Actually, it’s a very good question. I wonder if people would be willing to fess up on what they pay, where, and for what. Could be an interesting series of polls. Or we could do it in comments.
I’ll start! I pay around $300/month for one bedroom in a multi-person house in Belmont. As far as I know, my rent is on the low side for the area.
The rent in Cville has gone down. Compare rent prices in August to now and you will see it has taken a drop.
I guess no one else was willing to post their rental info (how much, where, for what)….?
I pay $1260 for the top floor of a house with Ms. Yum Yum in the Shamrock/Cherry Region. Lots of space with a big backyard on a quiet street. That’s up $60 from last year.
Oh! Yeah, sorry about that! I don’t actually pay rent. I am one of those people who lives in a box with a guitar (you know like over in the Social Security post). However, I have very, very nice computer to write on in my box.
And for the record my box is located in Belmont. I can’t stand to be too far from Crush and Mas.
@ 11 I’ll go you one further, at the risk of being labeled… I am a landlord. I rent an 800 sq ft one bedroom (top floor of a duplex, with a 180 degree view) for 600.00 a month. Its been that much for the last four years, I haven’t raised the rent once, even though that is written into the lease. The current tenant is so ideal, and the last two sooo heinous, that I am afraid she will leave if I do. At that rate I still haven’t recouped the amount I put into it to make it nice (next year I hope!)
Is that high? Am I gouging? Am I screwing myself? I don’t know. I never expected to be in that position. I just looked at the rental listings and struck the low mean for the area. Everything was negotiable.
that sounds like an incredible deal. PUT THE SQUEEZE TO ‘EM!
belmont: that’s a good price for your situation, I think.
$300 though…that’s what I’m talkin bout! That’s cheap rent. Me likey. Where you live at, Stanley?
It seems rents are really negotiable right now (March) because not a lot of people are moving and landlords are desperate. Thanks for the tip to negotiate, clarence.
But keep this in mind everybody: I have found places that are $400-500 that include all utilities, you have your own bathroom, W/D in the apartment, free cable, free internet. So step ya game up, landlords.
also Byo, I could read in the paper someone selling an apt of the same description for $1100 or $500. It really varies.
Where you live at, Stanley?
A house in Belmont. With three other people. Relatively near the B&R Market.
I’ve got a 600 SF 1 bedroom a block and a half off the downtown mall and I pay just under $600.
What would you guys ask for a 2 bedroom 2 bath AC. dishwasher, W/D
really neat house monthly?
oh about a block from the mall.
fenced yard
The rental market is not my thing.
thanks
100 dollars/month..let me rent.
Ernest, old bean, simply tops to see you!
I always just look in the ads, find comparable joints and make a guess.
Darn Belmont yo, can’t a person be lazy?
Also great porch. Can hear you spinning from it, maybe.
Well then I’ll take it and then call the cops every Wednesday and complain that the music from escafe isn’t loud enough
That sounds fun! There is a lot going on down there.
belmont, did you call me an old bean? fitting!
1400 sf
not counting a good basement unfinished
anybody?
ernest:
i just poked around CL for you (the R&R may be lame, but people still advertise things there) at a quick glance, 500-1300.
so, there’s that.
Thanks so much scoriole for you taking the time to look up the going rates. You are right in the ball park with !300, was getting a tad under
that.
I was deciding between renting and selling. Because I am not a fan of rentals, well the work of rentals.
This house is one of mine in town that I really like. Have a couple more that do NOT sing to me.
Again thanks!
i forget if ernest is a landlord or a renter. did you ever say?
Ernest owns mad land. Its an ernest empire! But I have the feeling ernest is good people.
@30: you are most welcome…i hope it works out for you, and your imminent renters…
/still likes the idea they call the cops ’cause they can’t hear the music loud enough.
//need more of them
Ernest is a landlord, that is a strange word. Not landlord just someone with houses that gets paid
, sometime I don’t get paid, that is not what makes Ernest mad.
Ernest wants to be good people but sometimes Ernest get pissed off.
Thanks Belmont Yo. You keep me on my toes laughing! I can not figure how you think of the things you
do and can write them down. That is the diff between my two brain cells and your zillion! Keep Truckin’