This month<\/strong>: clarity, using maps, insurance, downsizing, sucking, and evolving concessions.<\/p>\n Resale inventory remains low, prices are stable to up a bit, days on market are trending upwards, and my first weekend theory holds \u2014 good properties well priced, well presented, are moving quickly, often with multiple offers.<\/p>\n In Charlottesville + Albemarle:<\/strong><\/p>\n 2024<\/strong> \u2013 In the first 46 days, 197 resale homes were listed and 152 resale homes went under contract. Median Days on Market was 5. 87 (57%) of those that went under contract went under contract in 7 days or less.<\/p>\n 2025<\/strong> \u2013 In the first 46 days, 184 resale homes were listed and 122 resale homes went under contract. Median Days on Market was 7. 65 (53%) of those that went under contract went under contract in 7 days or less.<\/p>\n The real estate process is opaque to so many, in part because most people buy or sell homes only a few times in their lifetimes. My role is to provide and show the path to clarity. I tell all of my clients, \u201cI want you to ask me your questions. I know you\u2019re going to ask your parents, peers, search engine, and maybe ChatGPT, but please ask me so I can give you the best answer relevant to you<\/em> and our market<\/em>.<\/p>\n I find it moderately amusing that my opening is about clarity and my second segment is about chaos.<\/p>\n Something about the things we can control, and the wisdom to know the difference\u2026<\/p>\n The market \u2014 any market<\/em> \u2014 dislikes uncertainty, and right now, we have an awful lot of uncertainty. One of my roles is to help distill the meaningful from the superfluous, and the data can help. Feelings absolutely matter, and they must, and the data analysis is what can drive what my work with my clients.<\/p>\n The Federal Government is pulling people back to the office. The Charlottesville market is not going to be unscathed <\/strong>and it is too soon to know anything, really, about the chaos underway, so I\u2019ll put three thoughts out there:<\/p>\n Related, a client recently said this to me in the context of wanting a home, and not being house poor, \u201cI don\u2019t want to miss life in order to have a home.\u201d<\/strong> I\u2019ll be using this for a long time.<\/p>\n<\/div>\n \u00a0<\/p>\n This is how I learned my hometown. While I\u2019d lived in Charlottesville for most of my life, I didn\u2019t know it. My Realtor mom would give me some far-flung (or not so far-flung) address, and my own ADC map book, and tell me to go do it. Frustrated, confounded, and occasionally lost, I found my way. Cell phone coverage was less ubiquitous when I started in 2001, so I needed to find my way. I\u2019d map and frequently drive my tomorrow showings so I could confidently show the property. Practice matters.<\/p>\n And I learned, although I still get confused as to where Elliott and Monticello come out on Avon Street.<\/p>\n Knowing where to go is a crucial part of knowing my real estate market. I\u2019d like to think that buyers trusted me more when we\u2019d get in the car together and I knew where to go without GPS. If we both need to use GPS, I\u2019m no better informed than they are.<\/p>\n If you\u2019ve worked with me, I\u2019ve likely said a variation of this to you: \u201cI love technology, and like to think I use it appropriately. And part of knowing tech is knowing when analog is more valuable.\u201d<\/p>\n Explaining to a new client where things are is just easier on a physical, tangible, take-it-with-you map. Pointing, drawing, and identifying the misspellings. (Have you heard about \u201ctrap streets?\u201d Now you have<\/a>.)<\/p>\n Here are some tips for navigating without a cell phone<\/a>. When my wife and I travel and I have to use GPS, I put one AirPod in, and listen to the guidance from my phone so that I am able to look around. Sounds simple, and it is, and it\u2019s better than staring at a phone in a new foreign city.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n I have successfully presented and used, since the end of 2024, the Homeowners Insurance Addendum<\/a>. I\u2019ve written about homeowners insurance often, including this one in late 2024<\/a>.<\/p>\n Finally, other agents are coming around and understanding that homeowners insurance is a potentially volatile part of the real estate transaction. It\u2019s only taken about 19 years.<\/p>\n One reason for the reluctance of other agents to use this form? The market has been so hot for so long that adding another contingency was not desirable \u2014 I have used this form as a nudge for my clients rather than actually presenting it \u2014 and the insurance market was not what it is now. Hint: climate disasters are making the insurance market more volatile.<\/p>\n Another reason for the reluctance: ignorance and complacency. Not until you touch you\u2019ve had a client burned by a shockingly high insurance rate, or had a transaction fall apart unexpectedly due to insurance do you understand, and feel the risk and pain. This is one reason fewer agents have as yet understood and thus, hard for them to explain and add context to their clients.<\/p>\n![\"\"](\"https:\/\/substackcdn.com\/image\/fetch\/w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa09d16bd-35f4-4f39-91ab-13029006e46b_4032x3024.jpeg)
<\/picture>\n<\/div>\n<\/figure>\n<\/div>\nQuick Market Thought<\/strong><\/h4>\n
Clarity<\/strong><\/h3>\n
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<\/picture>\n<\/div>\n<\/figure>\n<\/div>\nMaps are Good.<\/strong><\/h3>\n
A client gave me some old real estate maps. I\u2019m a real estate dork, and was excited. Look how small Crozet was!<\/h5>\n
Maps are good; these are some I\u2019ve used with buyers<\/strong><\/h3>\n
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<\/picture>\n<\/div>\n<\/figure>\n<\/div>\nHomeowners insurance<\/strong> Addendum<\/h3>\n