Bank Forecloses, Then Resells for 50% Less Than Original Price

A reader sent this foreclosure and resale. Unit 8 of 2651 Barracks Road, aka the "Barracks West Condos," was repo'd at auction, then sold quickly: 50% off what the original owner paid.Condo ownership in many markets is collapsing. Thus there are many "good" prices on condos now, even in this area. (Tighter lending standards, however.) To generalize: many apartments were converted into condos,

Short Film Shoot, Prep & Day 1

It's almost a week already since the first day of filming so I better write something down before the details become general pleasing memories. Pre-production was typically busy. I travel to London from Poole every day, which means early starts (5am) and inevitable long days; sometimes driving, occasionally on the train.

Casting comes together pretty well with Katy, Lee and Jack all confirmed and ready to go. Locations were pretty much in the bag, except for the hospital which was causing us some concern in terms of budget and where the hell we could find somewhere we could afford AND would be suitable. We were also short on a few key personnel. One particularly frustrating afternoon was spent on the phone trying to find the crew we needed but generally not getting anywhere. Luckily, I have The Amazing Mr Ben on the case. He knows everyone in the universe and starts plucking at the stars.

On the day before rehearsal, two days before filming, we do a tech recce, revisiting the locations we had confirmed and checking out a potential hospital that was up for grabs. Bingo, we have our hospital. Locations confirmed. Actors ready but still short a few key crew.

Rehearsals on the Wednesday. I'm a bit nervous about the cast meeting each other for the first time, and also about the fact that I have to lead the rehearsals/meetings with the rest of the crew. Everyone mingles and seems really into it, and Gareth Tandy, 1st AD legend, gives me a briefing on what to expect over the next few days. I don't go home to Poole that night, staying instead with production coordinator extraordinaire Sarah McKee (and roping her fiance in as a runner for the weekend!).

Thursday. 1st day of filming. Sarah and I arrive early on set. Catering rocks up and immediately gets the bacon butties going. The waft of tea, coffee and sizzling bacon soon has the assembling crew on their toes. We're okay for crew for the first two days but still need to chase a few key positions for the weekend. Ben and Sarah get to it. All of a sudden, I'm standing around the camera, Katy and the crew, ready to call action on the first shot. But I don't shout action. I get Gareth to take care of that. I'm the one who shouts cut (for boring technical and practical reasons but it's something I'm grateful for as the shoot progresses).

The day goes well. I don't feel overwhelmed or out of place because I know I can trust the crew to do their job while I can get on with mine, which is to fuss about the shots and the actors. We get a bit behind schedule but we still manage to do 17 set-ups (3 shy of our intended target: a lot!), and the actors remain energetic and upbeat throughout. The day proves to be a steep learning curve for me as I try to balance the producer stuff I need to be aware about (the amount of stock we're using, the cost of things that are NOT on screen) while keeping focused on the all-important on-screen activity: the actors and the story.



I finish the day pretty pleased and there seems to be a good vibe amongst the crew, which is great. The adrenaline keeps away the obvious tiredness but it's back to Sarah's, grab a bite to eat, and time to call it a day, ready for day two...

READ DAY TWO production diary here.

Location, Location, Location. And Foreclosure.

Foreclosures can happen in any neighborhood, at any price point. Both sellers and buyers need to know about foreclosures (public notices found here), as they impact price.The following properties are within "spitting distance" of each other in a neighborhood that is close to UVA grounds. Some were mentioned in Comments after the CMA/recent posts.A. 1810 Winston Road - Scheduled for auction

Post 500

As I recover from the euphoria of shooting the short film over the weekend, I can't help but reflect on the highs and lows of the last few years, from starting this blog in August 2005 (after licking my wounds from the Writers' Academy), going to Cannes the following year, getting rejected by EastEnders, script editing Kings, setting up the Red Planet Prize with the legend that is Tony Jordan, launching Sofia's Diary and successfully getting another crack at EastEnders (my first ever episode will be on Monday, May 18th. Only a few weeks now!).

You'll have to forgive the cliche, but it really has been a roller coaster. The blog has provided a good centre to keep everything in perspective, and to help maintain a positive front in the face of some bad times. 2006/2007 was a difficult period, even pushing me towards considering regular employment for the first time since 1999. Thankfully, that didn't happen and I managed to eschew my respectable, but let's face it, lowly script reading status to focus on full-time writing and script editing gigs.

When you're trying to make it as a screenwriter, you have to be determined and bullish to succeed, not letting anyone or any particular rejection break you down. However, in my experience, this idealistic attitude isn't enough. It has to be matched with a proactive desire to do things differently in order to make things happen. It might be tempting to complain about the system or the seemingly passive nature of the industry but we writers can be just as complacent as we over rely on the usual sources to help make our careers happen: agents, screenwriting competitions, the writersroom, the Writers' Academy, etc. Of course, there's nothing wrong with these outlets but because they're the prime focus for the main herd, you gotta do something fresh and different if you're going to get ahead of the game.

Think about your individual profile. Your unique selling point. What makes you stand out? If you're a solid writer, great, but the irony of screenwriting is that sometimes good writing is not easily recognised. You could be a potentially Oscar-winning scribe but still struggle to get your first ten pages past the writersroom or the Red Planet first round. Such is the subjective nature of the format. However, if you manage to hustle, network or create something about yourself that's distinguishable from the multitude of movers and shakers, then you and your scripts may get more favourably received. The industry likes to react to a positive external influence rather than a passive request for support.

Get out there. Think different. Strive to improve. Push yourself out of your comfort zone. Do better. I'm not offering these phrases as condescending advice. I use them as pep-talks for myself. It's this kind of corny inspiration that keeps me going. The last few years have taught me that anything is possible. You just need the will, energy, talent and luck to do something about it. The only person that's going to do you a favour is you. Listen, I've just finished the short film. I've led a professional cast and crew (30 in total) to help me tell a story I wanted to tell. Previously, I wouldn't have dared to do this because of lack of confidence, finance, opportunity, timing, whatever. Excuses. Say it, do it. That's all. See what happens, create the fate. It does make a difference. Go on, what are you waiting for?

Late April Links

Housing PricesWaPoNice Place, But What's It Really Worth? The quandary that arises when recent comps aren't available.ClusterstockFive Reasons Why House Prices May Never Recover - Includes the link to Charles Hugh Smith's longer version.The Housing Chart That's Worth a Thousand Words - Economist Robert Shiller's History of Home Prices.Why a 50% Drop in Housing is Not the Bottom - Charles Hugh

"The Only Way To Know What Your Home Will Sell For"

From the Charlottesville Area Association of Realtor's 2009 First Quarter Market Report:The only way to know what your home will sell for is to have a REALTOR or appraiser prepare a comparative market analysis (CMA) for your property. This market is changing very quickly and to be up-to-date, you need to do a CMA every two weeks. Pricing a property correctly is the best way to sell it!Related

Spence, Goldschmidt, Church Hill Development: More Foreclosures

This isn't the first time these names have appeared in The Hook's Property Auctions column since last October's $3.5M worth of foreclosures. Will this be the last time?April 24 at 3:45pm at the Albemarle CourthouseProperty: Lot 6 Murray Dick Woods RoadDebtor: Church Hill Development Co., James B. Spence III, Joshua A. GoldschmidtAmount owing: $200,000Bidder brings: $20,000 or 10 percent sale

Crozet's Old Trail For Sale: "Not a Cry for Help, But a Marketing Tactic"

Via Dave McNair at The Hook. Recently: Hauser Homes Stonehaus Seeks to Sell Belvedere Stake

Related Reading:
Landmark Hotel Debacle - C-ville Weekly
Waterhouse Project "Scaled Back" - C-ville Weekly
Biscuit Run on Hold - Real C'ville
Church Hill Homes Mass Foreclosures - Real C'ville
Weather Hill Mass Foreclosures - DP
Church Hill Homes Liens - The Hook

1833 Fendall Lane - Charlottesville - $742K

MLS 464447 $742K1833 Fendall4 bedrooms, 3 baths2200 sq. ft., ca. 1952Assessed: $570KPaid $225K in 199710.6% annualized appreciationOwner is RE agent

1920 Red Hill Road - "Unique Opportunity" in Albemarle County

MLS# 464694 - 1920 Red Hill Rd - $1,375,000 6 Beds, 6.5 Baths, 8,000 Sq Ft, built in 2009. Design: "Brick Manor House." No pictures available.Listing: "Unique opportunity to purchase a classic Virginia plantation-style home in the development phase. Spectacular panoramic views of both the Blue Ridge and Ragged Mountain. 21 acre farm with new spring-fed pond, cleared site for barn, 2 wells

Production

That's it. We're ready to go. Short of a natural disaster, and one or two outstanding bits that need to be sorted, we start shooting tomorrow! Blimmin' hell. Rehearsals were today. The cast? Lee Ross, Katy Carmichael and Jack Blumenau, plus Alex Avery and Peter Landi in supporting roles. Lovely.

Somewhat pleasingly, the eve of the shoot coincides with my 499th post so number 500 will be probably be me babbling nonsensically from over-emotion and exhaustion. But I'll try to fill you in on the details as much as I can, and I'll update the video diary soon (current link-page is down so must reboot somewhere else).

Right. Got a camera truck to load at Panavision (poor Kevin! I'll let him fill you in on the details there as he's graciously helping out with production and has been all over London today), then go over shot list/schedule for tomorrow and try to get some sleep. See you next week for post 500, post-filming!

Freddie Mac Official Dead in Apparent Suicide

David Kellerman, 41, was a longtime exec at the giant mortgage loser, and named acting CFO last September after the government seized control of the company. Freddie Mac has had billions in losses. WaPo article.

"For Housing Crisis, The End Probably Isn't Near" - NYT

In this NYT article, David Leonhardt visits foreclosure auctions around the US and concludes, based on the low prices, unsold inventory, and more distressed properties that will come on the market due to Fannie Mae and Freddie Mac foreclosures, that the end is still some time away...nationwide. Leonhardt discusses prices dropping then ends by saying, [T]he great real estate crash is not over....

Goldman Sachs Sues Blogger "GoldmanSachs666.com"

Finance Whiz/ CNBC commentater Barry Ritholtz of the blog The Big Picture (linked in our sidebar) suggests that if you're a blogger, you add GoldmanSachs666.com to your blogroll. Here's why. Another finance website/blog, the Mortgage Lender-Implode-O-Meter has also recently been sued. Add them, too.And of course if you're a local blog, you want to have Waldo Jaquith's cvillenews.com on your

Blast From the Past: 2006 Hook Article, "Bubble Trouble? Real Estate Market Slowing"

Here's a trip down memory lane courtesy of local weekly The Hook. It's dejavu all over again as you read writer Courtney Stewart's article from November, 2006, about the slowing real estate market in the Charlottesville area.In 2006, sales were down 18% from 2005 figures. This must seem like the proverbial walk in the park now, with current First Quarter Sales down:2009 sales -33.9% in the

Crew

It's all steam ahead for the short. This time next week I'll be mid-way through filming, all going well. The Amazing Mr Ben and I have been gathering a great cast and crew (this guy is my 1st AD. I mean: come on!), and we're now in the final stages of prep before it all kicks off on Thursday. We're still short some key personnel so take a butcher's at the details below and spread the word. More news as it happens, stay tuned!

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SOUND RECORDIST & BOOM OP required for short film (expenses only, London area)

Shooting on Super 16mm. 'Origin' is a supernatural drama about a woman trying to keep her family together when her son falls ill after being bitten by a mysterious creature.

The crew assembled so far are experienced professionals all of whom are giving their time for free over the four days of the shoot. We will be paying travel expenses.

Dates are:
Tech Recce - Tuesday 22nd, Shoot days - 23rd, 24th, 25th, 26th April, 0800 - 2000.

Please send CV with contact details to sarah.mckee @ mac.com

No End Yet For Downturn in Housing: New Data

Sales in the Charlottesville Area (City, Albemarle, surrounding counties) for the First Quarter were down 33.9% from the same time last year. In the City sales were down 40%; in some of the Counties, down 50+%.Still, it being Spring and "the season," people are looking. And there are anecdotal/data reports of properties around the $240K and "under $300K" price points that are selling right now

The DP on CAAR's Q1 2009 Market Report

The Daily Progress' McGregor McCance has an article on CAAR's First Quarter Market Report. Realtors Michael Guthrie and Greg Slater, who have recently added comments and data here and here, are quoted. The article gives the hard numbers but no spin; just the hope expressed that first-timers will take advantage of low interest rates and the $8K tax credit.

CAAR First Quarter Market Report 2009

Q1 YoY sales are  down 33.9%. Putting the word 'only' in quotes was what CAAR CEO Dave Phillips did as he good-naturedly corrected our numbers. (Welcome back, Dave, long time no blog.)
The Charlottesville Area Association of Realtors First Quarter Market Report will appear on the CAAR blog on Monday. However, it's already available on the internet.

NUMBER SOLD - Includes single family homes,

Casting

On Thursday, I was auditioning teenagers for the role of Freddy, the central character in my short film (note: he's not the protagonist but he is the heart of the story). It's a particularly tricky but exciting part because Freddy doesn't have any dialogue but he expresses everything by NOT speaking, and reveals more emotionally with what he's trying to hide.

It was the first time I led a casting session. Initially, I was unsure how to audition the actors, and what to get them to do. I decided to improvise a scene within the context of the story but is not actually in the film. That way, I could get the actor to use whatever dialogue he thought relevant (in a Freddy fashion) and then I could direct them for the second take to remove all dialogue, and keep the responses to shrugs, glances, pauses, silences, avoiding eye contact etc. It turned out to be a good approach, and the actors seemed to dig it. I saw about a dozen teenagers, all with varying acting abilities and performances.

Fascinating stuff, and hugely enjoyable. There were a couple who didn't quite perform but would look good as Freddy, while there were a couple who were excellent but may be a little too old, or tall, for the part. Hmm, decisions, decisions.

I do have one actor lined up for the role of Jimmy, Freddy's father (for those of you who are familiar with the script). I won't say his name just yet but he's a terrific actor, he's on TV all the time (clue: he's been in Robin Hood recently) and I've been a fan for years. In fact, I always imagined him for the role when I was writing the script, so for him to say 'Yes' is just amazing. I'll wait until I have Claire, the mother, cast before I reveal who the actors are but that should come together next week. I start shooting on Thursday 26th, after all.

Ben, my amazing line-producer, has managed to set up a production office in the heart of Soho (wahey!) so I'll be there for most of next week as meetings, locations, crew, cast are all finalised. Then, squeeze in a day of rehearsal, and, um, start filming. Whee!

Charlottesville Albemarle Area Real Estate Sales Down 50%, First Quarter 2009

The other day we looked at the YoY decline in sales of single family homes. Today, we look at combined sales.The following chart gives sales numbers for single family homes, townhouses, and condos combined for Q1 2002 to 2008.First Quarter Sales 2009, for the entire area = 278Q1 Sales Down: -50%.Lowest of the Century. Lowest in 10+ years.We arrived at this number by combining CAAR's 'live'

Short Film Update

"You've picked a very good time to make a short film". That seems to be the general consensus at the moment. "You've picked a bad time to make a short film" also seems to be a popular remark. So, which is it? Probably a bit of both. It's a very good time to make a short because, apart from the big budget films, there's not a lot of work out there and crew are twiddling their thumbs. It's a bad time to make a short because everyone is preoccupied with trying to get work, so unpaid gigs aren't overly appealing.

Luckily, people prefer to keep busy rather than sit around, and the notion of 'it's a very good time to make a short film' is definitely tipped in my favour. So, I've been running around getting the production together, and it's shaping up nicely. I've got an amazing crew on board that includes Ben Greenacre (line-producer), David Raedeker (DOP), Stuart Conran (SFX make-up) and Jeremy Zimmermann (casting). The actors are yet to be confirmed but I hope to have some exciting news on that front, soon.

It's all very energising and inspiring. No wonder people get obsessed or addicted by filmmaking. It's time consuming, sure, but also great fun, and the collaborative process provides a neat rush of creativity and adrenalin, especially for a writer who's been stuck indoors by himself for too long. It's all going well, and I'm bursting with excitement about the upcoming shoot and what the story can achieve.

The film is called ORIGIN. It's a supernatural drama about a woman who tries to keep her family together when her son falls ill after he's bitten by a mysterious creature.


FUND THE FILM!

As I get the key stages of the production organised, I'm doing one final shout-out for funding. You can be a part of the film by donating whatever you can afford, and in return, I'm offering various incentives and goodies. They break down like this:-

* Associate Producer
For £50, I will give you an Associate Producer credit, plus access to a video diary I'm making of the production process (which I've already started, up to video 4 at the moment). You also get an invite to the cast and crew premier, a DVD of the film, a copy of the script AND a booklet called 'Get Your Movie Made' which lists the contact details of 22 of the leading film companies in the UK.

* Special Thanks
£25 buys you a Special Thanks credit, the video diary, the DVD, the booklet and the script.

* Thanks
£10 gets you a Thanks credit, the booklet and the script.

Once you choose your level of donation, simply click the Donate button on the right (underneath the About Me section) and PayPal offers a variety of payment options, from credit card, bank account or PayPal direct. If you'd prefer to pay by cheque or cash, no problem, get in touch.

Thank you to EVERYONE who's donated already. You've all been so wonderfully generous and supportive, and your contribution has made a significant difference to the whole scale and ambition of the short film. I need to push it further now, to get the most out of my script, cast and crew, so if you haven't donated already but were always planning to, then now would be the ideal time. Naturally, I'll be blogging about my experience as I go but the video diary will provide an exclusive inside-track on how everything is shaping up.

3 weeks to filming! Better crack on...

THANKS!

Charlottesville Real Estate Market Update: Q1 2009 Single Family Home Sales Significantly Down

The most comprehensive March numbers and Q1 2009 report will come from CAAR and from realtor/blogger Jim at RealCentralVA.

But the preliminary numbers indicate that for single family homes:

CHARLOTTESVILLE:
Q1 2009: 37 houses sold
Q1 2008: 70 houses sold
YoY Decline -47%

ALBEMARLE:
Q1 2009: 82 houses sold
Q1 2008: 126 houses sold
YoY Decline -34%

These numbers do not include pending

Red Planet Prize 2008: Winner!

Well, here it is. The news that you've been waiting for. The winner of this year's Red Planet Prize. Check it out.

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We’re delighted to announce that Mark Wilkinson, a VT Operator, is the 2008 winner of The Red Planet Prize. His script, The Ropes, is a piece inspired by the time Mark was left housebound by a broken leg for four months.

Wilkinson commented: “I'm extremely proud to have won the Red Planet Prize. It’s absolutely unique; there really is nothing else out there like it. I can't wait to start working with Tony and the Red Planet team.’’

Tony Jordan, commented today "I’m thrilled not only for Mark and his rather wonderful script, but also at the standard of writing of the entries this year.”

Details of the 2009 Red Planet Prize will be announced shortly.

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HURRAY! Well done, Mark! Great stuff.

See a nice photo, and stuff, at the revamped Red Planet website.

Charlottesville Albemarle Real Estate: Many Generation Y Priced Out of This Market...Ditto Gen X

According to the Virginia Housing Development Authority (VHDA), the Charlottesville Metropolitan Statistical Area remains one of the top three most expensive areas in the Commonwealth. The other two are Richmond and Hampton Roads. No surprise, right?In a recent presentation before the Charlottesville Area Association of Realtors, as part of their "Economic Summit," the VHDA defined the

Charlottesville Albemarle Economic Data: Unemployment Doubles and UVA Endowment Continues Losing

UnemploymentThe DP reports: The Charlottesville Metropolitan Statistical Area had a seasonally unadjusted unemployment rate of 5.6 percent in February, up from 2.8 percent in February 2008, according to a Virginia Employment Commission report released Wednesday.YoY doubling. (Hmmm...doubling of "bad numbers" sounds familiar around here....)Read: Area's Jobless Rate Doubles in One YearUVA