Median Home Prices in Charlottesville, Albemarle, and the Latest Case Shiller Index

Standard & Poor's widely-watched 20-City Case Shiller Index of Home Prices is released the last Tuesday of each month.It tracks the median sales prices of existing single family homes, as well as (since the bubble burst) the decline in pricing. The index runs about two months behind, so March's release is for January 2009.January 2009, in the 20 metropolitan areas, declined a record 19.0% YoY,

Charlottesville Real Estate: Mortgage Information Spring 2009

A Q&A with Jason Crigler of Crown Mortgage LLC and The Mortgage Buzz BlogIt's the real estate buying and selling season here in the Charlottesville area, as it is nationwide, and mortgage rates are going down due to a recent announcement by the Federal Reserve. So as we have in the past, we turned to an expert to answer questions. For this edition of mortgage Q&A, we asked readers to submit

Census Bureau Releases New Home Sales Numbers for February 2009

The Census Bureau today released the data for single family new home sales during February 2009. January 2009, was the single worst month for home sales since the CB began keeping records in 1963.The "good" news is that (as one might expect) there was a slight rise in sales--4.7%-- from January 09 to February 09. The bad news is that this is a 41.1% decline in February 2009 from February 08.

National Existing Home Sales Fall 4.6% & Prices Down 15.5% YOY in February (With an Aside About Local Numbers)

The National Association of Realtors (NAR), the largest trade association for real estate agents, has just released numbers for existing home sales in February 2009. The title of their Press Release is "Existing Home Sales Rise in February."Which is true, there was a small rise from January 2009 to February 2009. But Barry Ritholtz of The Big Picture points out this year, as he has for the past

Any Day Now

That's what I said, wasn't it? "Any day now". "Possibly sooner", he gushed. A week or so later, nothing. Tumbleweeds have enjoyed better company. I apologise. A decision is imminent, I assure you, but things have been a bit busy of late and it's only a small team that manages the Prize. So, take a deep breath and count to ten. It'll be any day now. He said.

Dow Up 500 Points On Treasury's Toxic Asset Plan

The day ended at 7775.86. The plan is here. Read Treasury Secretary Tim Geithner's WSJ piece "My Plan For Bad Bank Assets." In short, the plan will take over nearly $1 Trillion in bad mortgage securities. Tim Geithner, and the Obama Administration, have some significant critics on this, including recent Nobel winner Paul Krugman in "Financial Policy Despair," and other voices found at The

Commercial Real Estate in Charlottesville: For Sale, For Lease Signs Spring Up Like Daffodils

The DP is reporting on what anybody who has walked the Downtown Mall lately, or taken a drive up 29N, has noticed: "For Lease," "For Sale," and "Available," signs are everywhere.Sunday's story is entitled "Agents Note Bargains as Property Market Slows."What the story doesn't mention is current numbers from the MLS: 155 commercial properties available for sale, from $6.5 Million down, large

Charlotesville Real Estate Open Houses: Sunday, March 22, 2009

Below are just a few of the 44 single-family open houses scheduled for Sunday, March 22, in Charlottesville and Albemarle County. Check mycaar.com for the complete list and to verify times.MLS 449160763 Belvedere BoulevardCharlottesville (Albemarle County) 22901Open house: 1-5pm3 beds, 2.5 baths, 2384 sq. ft., 2007DOM: 405Original Asking: $499KNow Asking: $375K, a "drop" of 25%Belvedere was

332 Minor Ridge Road, Bank Owned: Update

332 Minor Ridge Road, listed at 37% less than what a bank paid for it at foreclosure auction, has gone under contract.

Related Reading:

Mortgage Rates Going Down
Median Home Prices In Cville, Albemarle, 20 Cities
16 Million Homeowners Owe More Than House is Worth in 2009
Comps in a Declining Market
February Sales, March Inventory
January Sales, Feb. Inventory

Charlottesville's Alleged Ponzi Suspect John M. Donnelly Taped By FBI

The DP reports that local alleged Ponzi suspect John M. Donnelly had phone calls recorded by the FBI.Donnelly's wife, Deborah, is the Executive Director for UVa's Curry School of Education Campaign. She has been named as a "relief defendant," but has not been charged with wrongdoing.Donnelly appeared in court on Thursday, March 19, but his lawyer, John E. Davidson, did not ask for a bond hearing

"Making Home Affordable" Website

The Obama Administration announced the "homeowner bailout" last month, with further details rolled out on March 4th. But it's only today that the program's own website has gone live.There are two different kinds of help available in the "Making Home Affordable" program:Home Affordable Refinancing"Many homeowners pay their mortgages on time but are not able to refinance to take advantage of today

Mortgage Rates Going Down

Mortgage rates are going down--and no doubt will stay down for some time to come.The Federal Reserve announced today that it will continue to buy Mortgage-Backed Securities in an effort to force and keep mortgage rates down. Not only will this help some new buyers come into the market--especially those who take 30 yr. conforming loans--it will help mortgageholders to refinance at lower rates.

Construction Down in Albemarle: "This is considered 'news'? Seriously?"

The title of this post combines both a headline from the 3/16 DP and the only comment that appeared after the article.The facts:Residential construction permits dipped to their lowest levels of the decade in 2008.403 building permits were issued for 418 residential dwelling units in 2008.741 building permits for 831 dwelling units were issued in 2007. That's a YOY decrease of 45% for building

Foreclosure Auction: 4886 Dick Woods Road

One of today's foreclosure auctions, scheduled on the steps of the Albemarle County Courthouse at 3:35 pm, is 4886 Dick Woods Road. This property in Ivy is owned by a Realtor and a general contractor.2004 Purchase - $469K2009 Assessment - $544.4KMortgageholders Owe - $750KIn the comments after C-ville's Weekly's "A Tale of Two Foreclosures," which discussed the travails of local Realtor Doug

Federal Reserve Chair Ben Bernanke on "60 Minutes"

Fed Chairs don't speak on TV. Until now.Why now? AIG. FOMC. Etc.

Quick Update

Getting the short film together at the moment, so not much to blog about specifically, except to say that Red Planet news will be very soon indeed. Am expecting an announcement any day now, possibly sooner! Sorry for the delay. I know many of you have been keen to find out what's happened so you shouldn't have to wait too much longer (I know, I know, but please, bear with us). For random updates on what I'm doing, you can follow me on Twitter, if that's your thang. Yes, it's trivial and distracting, but isn't that the point?

In other news, there are a couple of screenwriting courses coming up at the Lighthouse in Brighton which some of you may be interested in:-

Introduction to Script Development
Saturday 4th April, Saturday 18th April 09 // 10am - 5pm
Venue: Lighthouse, 28 Kensington Street, Brighton BN1 4AJ
Tutor: Julie Everton
Cost: £130 (full) £100 (concessions)
This course is designed for people who are interested in starting or building their careers as script readers or script developers. It is also suitable for writers, producers or directors interested in learning how to best work with a script to maximise its inherent potential.
 
Further Steps in Screenwriting
Dates: 21st April, 28th April, 5th May, 12th May, 26th May, 2nd June, 9th June, 16th June 09 // 6.30pm - 8.30pm
Venue: Lighthouse, 28 Kensington Street, Brighton BN1 4AJ
Tutor: Julie Everton
Cost: £130.00 (full) £100 (concessions)
This course is for writers wanting to build on existing screenwriting skills who are interested in learning how to develop a feature idea.
The course is suitable for those who have completed the Introduction to Screenwriting curriculum.

See the Lighthouse website for full details and how to book.

Right, that's it for now. Next post will no doubt be to announce the winner of the Red Planet Prize. Oooh!

John M. Donnelly Charged With $11 Million Ponzi Scheme; Wife Deborah is "Relief Defendant"

A Charlottesville man, John M. Donnelly, has been arrested and charged with a Ponzi scheme, according to documents released by the Securities and Exchange Commission and local news sources.

Donnelly created limited partnerships to solicit investors' money: Tower Analysis Inc., Nasco Tang Corporation, and Nadia Capital Corporation, which have all been named as Relief Defendants. A relief

Charlottesville Real Estate Market Update - Feb. Sales, March Inventory 2009

This Charlottesville Real Estate Market Update will cover single-family home sales and inventory in Charlottesville and Albemarle County. Condos and townhouses will be displayed in another post. The following info covers January and February sales plus current inventory.To say this is a "buyer's market" is like saying "the sky is blue." And yet, sales remain painfully slow due to the economy

This Is Not What Potential Buyers Want

This is what potential buyers fear. It's very simple. The above graphic. The number of mortgages "underwater," meaning a mortgage for which more is owed than the property is now worth, is expected to rise to 16 million during 2009. According to First American CoreLogic, that's about 20%. If prices fall just 5% more, the figure will rise to 25%.Prospective buyers fear closing on a house that

Screenwriter Recession

It's not good news anywhere you look, is it? The recession is hitting the broadcasters hard, with ITV, Channel 4 and Five all feeling the pinch. And while box office takings might be up, the recession doesn't paint a particular positive picture for the UK film industry either.

What does this mean for screenwriters? For most us, it means we're screwed. Screenwriting is a difficult profession at the best of times, so for everyone who's still trying to break in, nab a commission, option a script or get a film made, the current economic climate is certainly not going to do you any favours.

Let's not wallow in the misery, though. Let's look at this in a positive, practical way. What are the best opportunities out there at the moment for a budding screenwriter? Who are the people/production companies that are constantly busy, and may need writers? Where are the writing gigs?

First, television. Although there are significant cutbacks in drama reported in the press, TV is still the best way for a writer to get their break or continue earning their living. For the new writer, however, this means focusing on the new entry schemes and opportunities that are available.

The BBC Writers' Academy will be open for applications next month. Full details about the scheme are available at the BBC writersroom. If the Academy is beyond your reach but the individual BBC shows have some appeal, then you may want to consider approaching the shows directly to see if you can do a trial script.

Who do you ask? Well, try emailing a script editor. Keep an eye on the closing credits, scribble down key names like the script editor, story producer or producer. It's not difficult to figure out their email addresses. Be polite, introduce yourself, ask them to check out your writing sample(s) and to consider you for their show. You might get lucky. Holby and Casualty generally won't consider anyone until they have some experience but I think EastEnders run two shadow schemes a year (I did one last February/March). Your agent should be hustling them to get you in the door, and if you don't have an agent, then try the direct email approach and see how you get on.

It's also not difficult to figure out who the key production companies are in television, for comedy and drama. Talkback Thames, Shed, Hat Trick, Company Pictures, Objective Productions, to name but a few. Start networking. Email. Phone. Get your script(s) read. Get ahead.

Film. Well, the UK Film Council always has its development doors open, so that's a plus. Check out their website for the full submission guidelines. Don't send in a script that has good potential but needs work. Send in the best you've got. That's the only way you'll make an impression if you have no filmography whatsoever or they don't know who you are. Getting a spec script optioned, developed and produced is always tricky but it's not impossible.

You may have seen me mention my 'Get Your Movie Made' booklet where I've listed 22 leading film companies in the UK (that actually make and distribute films). This was available for £10 as part of my short film fund initiative (where you also receive a 'thanks' credit on my film, and a copy of my short script). However, I'm giving away the booklet for £5 (no 'thanks' credit or script) so if you want some of that action, then drop me an email or use the donate button on the right (underneath the 'About Me' section) to get your copy. The BBC writersroom reads unsolicited material on behalf of BBC Films, so that's another way of getting your work read.

There are opportunities for online drama/series, too, but it's difficult to pin down the exact movers and shakers in this area, unless you're talking about the big boys like Bebo, Hammer, RTE etc. Still, keep your ear to the ground, check out the blogs/websites, see what's happening and make your move. Better still, do it yourself.

DIY. Make a short film. Or a sketch. Or the pilot for your online idea. If the prospects for this year are anything to go by, the only thing certain is that you have to take charge as much as possible. Get busy doing things, be proactive and stay focused. It's the only way to get noticed and to get ahead. And keep writing.

There. 2009's not looking so bad now, is it?

332 Minor Ridge Road: Bank Paid $291,305. Now Listed For $182,900.

332 Minor Ridge Road is close to everything in the City, but technically in Albemarle County.

MLS #462842 - New Listing
4 Bedrooms.
2.5 Baths.
1,980 sq. ft.
Garage.
Partially finished basement.
$92 per square foot.

This place is on the Western side of 29N, very close to shopping centers and restaurants in "Wynridge." Schools: Agnor-Hurt Elem., Burley Middle, Albemarle HS. It's a high-density

Dow Ends 6,594: Second-Worst Bear in 100 Years

Chart courtesy of dshort.com. The Dow dropped nearly 300 points on bad retail reports and concerns that GM faces bankruptcy.In other bad news:MORTGAGE DELINQUENCIES AND FORECLOSURES5.4 million American homeowners with a mortgage (~12%) were either behind in their payments or already in foreclosure at the end of 2008, according to the Mortgage Bankers Association.That’s about one in eight

First Lien Filed on Landmark Hotel

The Tyvek Tower and the beleagured Halsey Minor have had the first mechanics lien filed against them, The Hook's Lindsey Barnes reports. And the hotel's former developer, Lee Danielson, expects more: "I know people on this project who are owed everything from $3,000 to more than $300,000.”

January Pending Home Sales: National, Regional, Charlottesville/Albemarle

The National Association of Realtors (NAR) released their index of January Pending Home Sales on Tuesday, March 3.This monthly index is a "forward-looking indicator based on contracts signed in January," according to their press release. The index is at its lowest level since tracking began in 2001.Calculated Risk points out that the Pending Home Sales index leads existing home sales by about 45

Charlottesville Has Another Bubble Blog!

We're just kidding. But you might get the feeling you're here on Real C'ville when reading the latest posts over at RealCentralVA. Actually, it's the comments that are literally "bubbling over" with prospective buyers' perceptions of the market in general, including slow/low level of sales and inflated pricing. There's also discussion of particular properties by prospective buyers and realtor/

Virginia is a Blue State. And We Don't Mean Obama Democrat "Blue."

USA Today has a story and map graphic about loans made that were 4x (or more) a borrower's income. This kind of mortgage lending rarely happened before the bubble.Mortgages written in Virginia, as elsewhere, changed significantly between 2000 and 2007. Massive loans with adjusting monthly payments account not only for inflated home prices that are keeping would-be sellers trapped in their homes

Coming Up 2009

Press release info:

"APPLICATIONS ARE NOW OPEN FOR COMING UP 2009

COMING UP is the only talent scheme currently in the UK where emerging film-makers have the opportunity to make an authored drama with a guaranteed network broadcast. Now in its ninth year, Channel4 and Touchpaper TV, part of the RDF Media Group continue their commitment to innovation, experimentation and new voices.

We will make up to 8 eye-catching innovative, challenging films which kick down the door of mainstream television drama, from the best fresh talent in the UK. Each film will be for a half-hour C4 slot and we are looking for:

Bold original and surprising ideas with strong voices - unafraid of ambition, wit, urgency and fearless entertainment.

Films that can be shot in 4 days on a limited budget.

WRITERS: This scheme is open to all writers who have NOT had an ORIGINAL single, series or serial broadcast on UK television; writers who have contributed episodes to series or serials (e.g. a long-running soap) are now eligible to apply.

DIRECTORS: The scheme is open to directors without a primetime TV drama credit.

WRITER / DIRECTORS: We will accept submissions from Writer / Directors above, but excellence in BOTH disciplines must be shown to be considered in this category.

The closing date for receipt of applications is:
FRIDAY 17th APRIL 2009

ALL applications are by post ONLY:
COMING UP 2009, The Gloucester Building, Kensington Village, Avonmore Rd, London W14 8RF
Full guidelines are available on the Touchpaper, RDF, or Channel4 websites or email specific queries to ComingUp @ touchpapertv.com "

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And, on a different note, why not click on over to Babelgum to vote for Tim Clague's video, God Versus the Advertising Standard Authority. It's a film Tim made on Boxing Day (even when he's taking time off, he's still putting himself out there!) and it's proven to be a big success and is now up for consideration in the Babelgum Video Awards. Sweet! Go on, vote for the Timster, you know you want to.

Dow: 6,763. Lowest Since 1997.

The Dow has lost more than 22% just in 2009. But it's not just the Dow that tumbled; markets around the world were lower on weakening economies and the AIG debacle. AIG received $30 Billion more in bailout money (#4 bailout) even while reporting the $61.6 Billion largest quarterly loss ever. NYT writer Joe Nocera explains in layman's terms why Treasury won't allow AIG to fail.It's bad.The US

Deadline For City Property Tax Assessment Appeals: Tuesday, March 3

If you want to appeal the assessor's appraisal of your home, you need to visit or call the City Assessor's Office by Tuesday, March 3 to get the process going. The number is 434-970-3136.As the FAQ on the City's website says, "The assessment/appraisal buisiness is not an exact science. The assessor does not get the opportunity to go in every home...[M]ost assessments are based on exterior

Short Sale: When You Can't Qualify for Mortgage Relief Through HASP

The Hook has an article by Lindsey Barnes about a recent foreclosure-short sale seminar sponsored by a local lender and a RE company. A "short sale" is the term used to describe what happens when a lender agrees to let a house be sold for less than what a mortgage holder owes, in order to settle the debt. This is done in lieu of foreclosure. For the debtor, short sales have the advantage of