Condo, Townhome, or Single Family Detached?

When looking to buy a property you will have the option of buying a condo, an attached townhome, or a single family detached home. Each option has it benefits and can appeal to different buyers.

Condos – the low maintenance option
The ownership structure of a condominium is such that you own your individual unit and have a shared ownership of any common areas such as a lounge or pool. Condos typically have higher Association fees than attached or detached homes but in return lower maintenance costs. In a traditional condo you will not have any yard, roof, or exterior building maintenance for which you are specifically responsible.

Additionally the Association fees will typically cover a few of the utilities such as trash removal and water. This makes condos very appealing to several different categories of buyers. First time homebuyers can find the often lower price point and fewer cost variables appealing. Investors love condos for their easy rentability and lower maintenance.

Those valuing walkability may opt for a condo near downtown or the university. Condos are also very popular among those downsizing. As always it is important to review the Owners’ Association documents carefully to make sure you can use the condo as you wish. Some may not allow pets while others may not allow you to rent the unit.

Townhomes aka Attached homes – the happy medium

Townhomes are traditionally set up where you enter on the ground floor and own all the way up to the roof. They typically offer more square footage than a condo and can accommodate more bedrooms and bathrooms.

These attached homes will always share at least one wall with another unit. It is dependent upon the specific Owners’ Association guidelines how exterior maintenance is handled. Some townhome style properties are actually in a condo ownership structure so review carefully. The higher the Association fees the more that should be covered.

With attached homes it is possible to have a garage and even a small yard to yourself. A bigger bang for your buck and moderate maintenance can make attached homes appealing to first time homebuyers, families, and downsizers alike.

Detached Single-Family Homes – freedom of choice

If you want acreage, a lot of square footage, or a one of a kind of home then a detached house is the way to go.

Within the category of single-family homes there are many different directions you can take. If you appreciate the privacy of a detached home but don’t want the additional maintenance you can choose a subdivision with an Owners’ Association that takes care of all of the yard work.

Alternatively you may want land for horses, gardening, or just the feeling of being away from it all. Those looking to design a truly unique home will also choose detached whether for new construction or rehabbing and adding on to an existing structure.

If you are still unsure which option is right for you, contact me today and we can start looking.

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Sydney Tenhundfeld
REALTOR®
sydney@loringwoodriff.com
www.loringwoodriff.com

Walkability VS Tranquility

When looking at properties you will likely have options in both highly walkable locations and in beautifully tranquil settings but rarely one that offers both. Each buyer has his or her own priorities. Some simply must be able to walk to work while others prefer to get away from it all at the end of the day. We are lucky that in the Charlottesville area you can find ample properties on both ends of the spectrum.

Most areas within Charlottesville’s city limits are walking or biking distance to a delicious restaurant, fun music venue, or lovely park. If you go only ten minutes from downtown though, you can find absolutely breathtaking mountain views and peaceful scenery that would make it hard for anyone to want to leave.

Homes with high walkability often mean high rentability as well. Many first time home buyers I work with like the idea of buying a home that would also appeal to renters. This is a nice safety net for the cautious buyer to know that when they move on to their next home they can have an income producing rental property should they choose not to sell.

If you don’t want to sacrifice the serenity of nature while bringing in that rental income you may want to consider properties in more peaceful settings with the acreage for additional homes on the property. This would give you plenty of options whether you want to rent it out for additional income, provide truly private guest quarters, have family live on the property, or offer lodging as compensation for a part time property manager.

When considering a walkable versus tranquil home, maintenance is an item to consider. Walkable homes typically have smaller fantastically low maintenance yards that can be very attractive to those with busy schedules. On the other hand sometimes you need a bit of land to fit your needs. If you want horses, a swimming pool, or large garden you will likely find the properties a few minutes from town with larger lots more accommodating.

The Charlottesville area has such a diverse array of home offerings that you will most definitely be able to find what you need no matter if your preference is next door to a café or away from it all.

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Sydney Tenhundfeld
REALTOR®
sydney@loringwoodriff.com
www.loringwoodriff.com

Charlottesville Gift Guide

Finding the right gift for everyone on your list can be exhausting but luckily there are so many fantastic options in Charlottesville you are sure to find a fantastic gift with a local story.

For Mom
Moms can be tricky to buy for but something handmade is always a hit in my experience. Luckily there are a few options for making a gift that not only comes from the heart but is truly beautiful as well.

Blow Your Own Glass Ornament at Sunspots Studios! This fantastic gift option allows you to put your own spin on a truly beautiful piece of artwork that you can enjoy every year when decorating the tree. Ornaments cost $40-45 and children age 5 to adult can participate.

If ornaments aren’t your thing, The Glass Palette has supplies for you to make jewelry, dishes, and artwork.

Another option for crafting your own gift is Wine and Design. Started as a BYOB step-by-step guided painting class it now offers kids classes too. Join one of the prescheduled classes or get a group together and pick what you want to paint. You’ll love the class and leave with a beautiful piece of artwork for mom. If you think she would enjoy the painting herself a gift certificate would be a great option too!

For Dad
Dads can certainly be tough to buy for so I find it is best to stick to the basic pleasures in life.

For starters, food is a generally safe bet. When it comes to food there are few gifts more decadent than A Year of Cheese from Feast!. Each month the recipient goes to Feast! and chats with the cheese monger about this month’s selection. Not only are you giving the gift of fantastic cheese but also an education on how to pair it with other food and drink. If the $200 price tag is above budget consider one of their many other gift boxes.

For the scholarly father, pop into Blue Whale Books on the Downtown Mall. Here you can find special edition books, artwork prints, and beautiful maps. The owner is almost always there and incredibly helpful. I just heard they got a new shipment in of Virginia maps so hurry in before they are all gone.

For the Kids
Check out the local toy shops for the children in your life. Shenanigans at 601 West Main Street is where I bought my niece her first baby doll. Alakazam on the downtown mall always has loads of fun gadgets and gizmos for the creative child. O’Suzannah just off the mall on 4^th street northeast has curated a unique and aesthetically sophisticated collection of children’s books and clothing.

One of my most memorable Christmases was coming down to see a shiny red bicycle with my name on it. If you are looking to give a bike I suggest Blue Ridge Cyclery at 1039 Millmont St.

For Teens & Young Adults
Often the most fickle demographic, teens and young adults can prove difficult to shop for. Fear not though as several local shops can help you find the right gift.

This is a very active age for most people so heading to Ragged Mountain Running Shop is a safe bet to find something they need. They have a wide assortment of athletic clothes and shoes as well as running accessories like belts, water bottles, and gps watches.   If you have a hunter or fisher in your life consider The Albemarle Angler to find the right gift.

For the preppy on your gift list you can’t beat Country Club Prep founded by two UVA alum who decided to put their first brick and mortar store on Elliewood Avenue on the corner. Other fun shops around this area include Duo, Finch, and Southern Proper.

For Out of Town Family
Every year we celebrate not only with my family in Charlottesville but also make a trip to visit family in Louisiana. It has now become a tradition to bring down a basket full of local goodies not available there. We include local candies, jams, granola, sauces, peanuts, honey, you name it! It is a fun way for us to share our daily favorites with them once a year. Just stroll through the local food shops of Main Street Market to fill up your basket at such shops as The Spice Diva, Gearhart’s Chocolate, Albemarle Baking Company, and of course Feast!

Another favorite for our out of town family is local jewelry. Sterling silver dogwood flower earrings from The Virginia Shop were such a hit we got a necklace the next year.

Being UVa alums there is always a stop at Mincer’s to gear up on hats, T shirts, and socks for the family to wear as they root on the Hoos from afar.

Last but not least there are always some new local craft beers and wines to share with the adults as well. Beer Run offers perhaps the most extensive selection in town!

For Your Pets
Sammy Snacks is sure to make any pup in your life very happy this holiday season. Visit them at 1055 Millmont St.

Animal Connection is another great shop to pick up something for your furry friend. They are located at 1701 Allied St behind Cville Coffee.

Hostess Gifts
With the holiday season comes all of the holiday parties and a good guest never shows up empty handed. There are several places in town to pick up the perfect hostess gift.

Again, Beer Run can help you select the perfect wine, beer, or cider for your host.

Gearhart’s Chocolates are an irresistible gift anyone would love to receive. Visit their shop at 416 West Main Street next to Albemarle Baking Company.

Locally roasted coffee from Shenandoah Joes can be a nice gift as well.

For Everyone Else
If you are still looking for ideas here are a few more general suggestions most anyone would like.

Two tickets to a show at The Jefferson would be a great idea. Anyone who can appreciate some funky 80s music and a good time would love tickets to New Year’s Eve with Love Canon. Other shows coming up are Corey Smith and Steep Canyon Rangers.

Gift certificates for an evening out are a great idea. I don’t know anyone who could resist dinner at C&O, Mas, or Fleurie.

An exquisite pen, stationary, or journal can be a lovely gift for anyone. Visit Rock Paper Scissors in their new location on the downtown mall.

A massage, facial, or pedicure from CitySpa is an unexpected treat.

All of these options make shopping local a cinch so get out there and spread some cheer. Happy Holidays!

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Sydney Tenhundfeld
REALTOR®
sydney@loringwoodriff.com
www.loringwoodriff.com

Celebrate the Holidays In Charlottesville

In my mind the holiday season in Charlottesville hits full steam as a hush comes over the town as students take final exams and return home for a well-deserved winter break. Meanwhile magical events are unfolding all over town.

Here are a few ways to celebrate the season this December.

Pick Your Own Tree
For many this is a family tradition. Luckily we have several fantastic options for you to select the perfect tree for your holiday celebration.

You will find Pre Cut and Living Christmas Trees at AM Fog.
9264 Critzer Shop Road, Afton, VA 22920. Phone: (540) 456-7100.

Green Meadows Farm is so idyllic that I actually know someone who proposed here! You’ll enjoy beautiful scenery, hot cocoa, and plenty of Christmas cheer. More info at www.greenemeadowsfarm.com

Enjoy a Christmas Light Tour
The Gingerbread Express Light Show is a great way to see the best neighborhood light displays throughout Charlottesville. Tours are the 12^th, 13^th, 19^th, and 30^th at 6, 7, and 8 p.m.  Guests will meet with Mrs. Claus prior to the tour at the Virginia Discovery Museum and enjoy hot cocoa and cookies.  Tickets are $5 on sale now at the DBAC office located at 108 5th St. NE or by phone at (434) 295-9073. Children 2 and under sitting in the lap of a ticket holder are free. This is too fun!

See a Show!
Black Friars Playhouse is putting on A Christmas Carol. It doesn’t get much more classic than this Charles Dickens tale. More information here.

Charlottesville Ballet is performing The Nutcracker Suite for your enjoyment on the 20^th and 21^st. Get ticket information for this timeless ballet here.

 

Enjoy a Holiday Tour of an Historic Landmark
Montpelier offers many holiday events including a candlelight tour. This event is just filled with Christmasey goodness. The schedule of events for the 13^th includes a visit with Santa Claus, Candlelight tour with James and Dolley Madison, and several performances including harp, a capella, and vocal ensemble. Get your tickets here.

See how Jefferson celebrated the holidays with Monticello’s holiday evening tours. This tour offers a rare glimpse at the historic home after dark and includes a tour of the dome room. Get your tickets before it sells out!

Attend a Holiday Concert
Charlottesville Municipal Band will play December 14^th 3:30-5:00 at Martin Luther King Performing Arts Center. Admission is free with a donation of non perishable food item.

The Virginia Glee Club’s Annual Christmas Concert is the 13^th at First Presbyterian Church. More information here.

 

This is just a small collection of all of the fun happening in Charlottesville this season. Continue to explore other events through local publications such as Charlottesville Family, Cville Weekly, and DBAC.

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Sydney Tenhundfeld
REALTOR®
sydney@loringwoodriff.com
www.loringwoodriff.com

 

 

Online Marketing of Your Home

The National Association of Realtors and Google joined forces in a study that found 90% of homebuyers are searching for homes online.

With the overwhelming majority of buyers using the internet to find their next home it is crucial that you maintain a strong online presence when selling. Here are a few tips to get your home maximum exposure.

Get your home listed in the local MLS by hiring a Real Estate Agent
This is by far the most crucial part of getting your home in front of buyers and their agents. Nearly all of the online search engines buyers are using are being fed data from the local MLS. Without that exposure you are limiting your reach dramatically. You can use the property search on our website or visit http://www.mycaar.com to search local listings in Charlottesville and central Virginia.

Check search results
If you search your address on Google right now Trulia, Zillow, and Realtor.com are most likely to be your top three hits. Make sure all of the information is correct on these sites. You would be surprised how often basic facts like square footage, listing price, and whether or not the home is even for sale are wrong. If you do see something off, tell your real estate agent. An agent can actually claim a listing to request changes to the information and even offer comps to change the zestimate! Every buyer should know not to take listings on these sites at face value but often this is the most convenient app on their phone while they are out looking at homes.

Use social media to stay current
Part of your agent’s job is cultivating relationships to expand their network so you might as well let them use their connections through social media to market your home. There are several ways to keep your home in the forefront of the minds of buyers and their agents. Blog posts like this one can be used to feature your home and already have an established following. We use our Facebook page to highlight a new listing, promote an open house, or advertise a new improvement. Tweeting out open house reminders can double your traffic. Pinterest and Instagram provide platforms for you to showcase the best feature of your home or Youtube can be used to post virtual tours. These are just a start and there is always something new coming.

Whether you use one or all of these tactics it is clear that having an online presence is crucial getting your home sold.

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By Sydney Tenhundfeld, REALTOR ®
sydney@loringwoodriff.com
www.loringwoodriff.com

 

 

The Importance of Staging Your Home For Sale

While you may absolutely love every item in your home from your kids’ artwork on the fridge to your grandmother’s antique bed that dominates the guest bedroom, they may not help you sell your house. This is where effective staging can make all of the difference.

In a study by the Real Estate Staging Association it was found that staging a home reduced the days on market by 72%. The association arrived at this number after evaluating 63 homes that had been on the market for an average of 143 days. These homes were then staged and received offers within 40 days on average.

Compare that to 481 homes that were staged before listing which received offers in 23 days on average. That is huge! Each mortgage payment you don’t have to pay is money in your pocket.

Nearly every buyer views properties online before ever setting foot in a home. Thus the photographs in your listing are crucial in making a great first impression is so vital. Good staging and great photography can take a home from being one a buyer passes over online to a home the buyer has to see now!

The talented home stager Gail Hoerr at Redesign and photographer Abby Inman with VA Home Pics brought this listing to the next level.

Here are some before and after pictures to highlight a few of the main principles of staging and the importance of great photography.

Declutter

While many talk about the three L’s of real estate (Location, location, location!) the three D’s of staging are definitely Declutter, Declutter, Declutter! This strategy is utilized at every step of this staging project.

Brighten

It is important to every room feel spacious, airy, and well lit to allow the potential home buyers to see themselves living in the space. Dark cramped areas are overlooked, forgettable, and viewed as unusable space.

 

Depersonalize

Depersonalization and decluttering go hand in hand. While decreasing the number of items is important so is decreasing the distractions. Buyers are there to view the house and its potential to fulfill their needs. Photos of a family vacation can make a viewer think about how they should take their kids to Paris rather than how this office is a great asset to the family member that works from home.

 

Flow

Part of envisioning your life in a house is thinking of how you go about your day to day activities. The ability to seamlessly go from cooking in the kitchen to eating at the table to reading a book with a cup of tea in your favorite chair before bed should be easily envisioned.

When choosing your real estate agent make sure they have the resources for staging and photography in order to garner your home with the most interest possible.

See more from Gail by visiting her website or blog!

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By Sydney Tenhundfeld, REALTOR ®
sydney@loringwoodriff.com
www.loringwoodriff.com

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Thinking About a Renovation? There’s a Loan for That!

Local Mortgage insider Tammy Wilt explains how you can quit putting off that renovation and get started with a loan.

The City of Charlottesville is comprised of eclectic neighborhoods in/near the Downtown Mall. If you want to purchase in this area, you may have noticed that the neighborhoods range from brand new subdivisions to some historic areas. What if you like the neighborhood, however, the home needs updating/repairs/energy efficient upgrades?

If you want to buy one of these homes and don’t have the money to make changes, there are loans that can help. For the majority of buyers the FHA renovation loan works well. This loan allows a down payment of as little as 3.5% of the purchase price + cost of renovation. For example, purchase price is $200,000 and the cost of renovations is $20,000, the down payment would be $220,000 x 3.5% = $7,700.

There are two types of FHA renovation loans (also known as 203K), the streamline and full consultant. The type and cost of renovations will determine which loan 203K product will work best. The drawback with FHA 203K is that it only allows financing for primary residences (either purchase or refinance). If you have more money to put down, or are purchasing a second home or investment property to renovate, you will need to use the HomeStyle program. The HomeStyle renovation program requires as little as 5% down payment for a primary residence purchase.

Since these products are lending on future value, the interest rate is going to be slightly higher than a regular conventional loan. Also, the closing costs will be higher as there may be needs for consultants, updated title work and inspections. Overall these loans will help you make the improvements you want sooner versus later.

Make sure you work with a lender who has experience with these types of loans as there are more nuances to these than traditional purchases.

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Tammy Wilt
434-242-0046
tammy@tammywilt.com
www.homebridge.com/tammywilt
NMLS# 195702

The Neighborhood Series: Locust Grove and Woolen Mills

We return to the neighborhood series this week discussing neighborhoods east of downtown.

Location: Woolen Mills is just east of the downtown mall bordered by Meade Avenue to the west, Belmont to the south, and Locust Grove to the north.

History: In the mid to late 1800’s a community started to develop around the Woolen Mill which employed many of the nearby residents. Though the mill closed in the 1960’s the neighborhood remains, providing homes with a rural feel yet great proximity to downtown. The Locust Grove subdivision was developed in the 1890’s with another wave of homes built between 1940 and 1970.

Elementary School District: Burnley – Moran

Landmarks: The Rivanna River runs throughout this area near the old Woolen Mill and Woolen Mills Chapel which still stand today. East High Street provides commercial establishments such as Riverside Lunch and other old favorites on your way to Pantops.

Parks: McIntire Park is a main gathering place for the people of Charlottesville hosting such events as the Dogwood festival and 4^th of July Fireworks. To stay up to date on how the 250 Bypass construction will be affecting the park and skate park visit http://www.charlottesville.org/index.aspx?page=3089.

Meade Park provides an excellent water park and is often buzzing on hot summer days. The park also hosts a growers-only Farmer’s Market every Wednesday 3:00 to 7:00 pm.

Pen Park is a 280 acre complex consisting of 8 tennis courts, little league baseball diamond, volleyball court, outdoor physical fitness course, trails, and the 18 hole Meadowcreek Golf Course.

Northeast Park also provides a convenient play area in Locust Grove.

Who Lives Here: Locust Grove and Woolen Mills primarily consist of single family detached homes. Both areas are popular with families big and small as they provide good value homes with a diverse group of homeowners and renters, families, young professionals, and original owners. The Woolen Mills even offers a number of new contemporary homes tucked away on wooded lots overlooking the Rivanna River. Locust Grove has many character rich early 20^th century homes as well as 1960-1970s ranches.

Stay Engaged: Check out the Woolen Mills blog here www.historicwoolenmills.org/fabric.html.

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By Sydney Tenhundfeld, REALTOR ®
sydney@loringwoodriff.com
www.loringwoodriff.com

Getting a Mortgage? What to Expect in Today’s Environment

This week we are featuring a guest post by local mortgage insider, Philip Mahone.

You’’ve been pre-approved by a lender, put a contract in on a home and had it accepted. Exciting! Now it’s time to go forward with the mortgage application and get the lender all the necessary documents the lender requires. Below is a list of items to help you get a head start;

1. Copy of your driver’s license and social security card.
2. Copy of the ratified contract.
3. Last 2 years full tax returns with all schedules including w2’s and 1099’s if applicable.
4. Last 2 months full bank statements to all asset accounts (all pages) including retirement accounts. The statements must have your name, the bank name, and the account number.
5. Last 2 pay stubs.
6. You will need to list at least your last 2 years full employment history and address history.
7. Copy of diploma if you have graduated high school, college, or graduate school within the last 2 years.
8. Copy of divorce degree and separation agreement if applicable. If you are using alimony or child support income then you will need proof of last 6 months receipt. This can be either cancelled checks or bank statements showing monthly receipts.

Here are a few tips to help expedite the process.

1. On your bank statements, if you have a deposit that is more than 50% of your monthly income then you will need to source the deposit.
2. Don’t open up any new credit accounts during the mortgage application and use your credit cards as little as possible.
3. If you go out of town during the application make sure the lender can get in touch with you.

Getting a mortgage can be stressful but if you are prepared and know what to expect the stress will be reduced. You may feel that the lender is being too picky and asking for everything under the sun. But when hundreds of thousands of dollars are at stake you can see why the lender might get picky. So be prepared and patient and things should be smooth.

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Philip Mahone
Mahone Mortgage, LLC
(434) 293-5200
http://www.mahonemortgage.com

 

The Neighborhood Series: Belmont

Location: Within walking distance of Downtown, Belmont reaches one block west of Avon Street, extends north to Water Street wrapping around Carlton Avenue, and runs along Moore’s Creek to the south. Many sight-seers experience the rolling hills of Belmont for the first time when driving from Monticello to Downtown. The topography of this area means many homes have fantastic views not often found within Charlottesville city limits.

Elementary School District: Clark and Jackson-Via

History: Belmont is actually a combination of what were once two separate neighborhoods of Belmont and Carlton. Belmont got its name from a farm estate by the same title owned by a contemporary of Thomas Jefferson. The Old Belmont Bridge was built in 1905 and replaced in 1961 with the New Belmont Bridge allowing for growth in the area. New plans may be on the horizon as city council weighs the benefits of maintaining the current structure or creating a new pedestrian underpass.

These passionate Belmont residents made a short film rallying for the underpass.

Landmarks: In addition to the close proximity to the Downtown Mall, Belmont has its own very popular downtown with some of the area’s best restaurants. Favorites include Mas, Tavola, The Local, La Taza, and Belmont BBQ.

Parks: Belmont Park is centrally located and has been recently updated to include a Spray Ground to cool off during hot summer days. Surrounded by Stonehenge Avenue, Rialto Street, and Druid Avenue means there is always plenty of action on a sunny day. Rives Park is currently under construction with hopes for improvement to the fields and basketball court. Nearby Quarry Park on the southern edge of town offers baseball and T ball fields.

Who Lives Here: The universal appeal of being able to walk downtown without the downtown price tag puts Belmont on many buyers’ shortlists. Those looking for character rich details seek out Belmont where you can find beautifully renovated original homes as well as those ready for refreshing at a great price. A majority of Belmont is single family homes but you can find newer townhomes and rentals as well. With each unique home offering something different than its neighbor there is something to appeal to everyone from the first time home buyer to a family looking for mountain views.

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By Sydney Tenhundfeld, REALTOR ®
sydney@loringwoodriff.com
www.loringwoodriff.com