There's a reason why Charlottesville, Virginia attracts such a diversity of homebuyers, including famous authors and politicians, say local Realtors.

"Charlottesville has many secrets as to why it's the 'Best Place to Live in America,'" says Realtor Marina E. Ringstrom, "but let's not forget the History....... Jefferson's Monticello, Madison's Montpelier, and Monroe's Ashlawn Highland-that's three of the nation's first five presidents within a 30-mile radius. Just so we're on the same page ...John Grisham, Rita Mae Brown, and John Casey are just a few of our local authors. Charlottesville ranks third in the nation for per-capita book sales, and our love affair with the written word is never more evident than in early spring when we host 'The Virginia Festival of the Book.' This entertaining, educational celebration is the only one of its kind in the mid-Atlantic.

"May we offer this toast?," Ringstrom continues. "Charlottesville wineries are earning increased attention on a national scale. Oakencroft Vineyards features daily tours and tastings and hosts numerous festivals and celebrations throughout the year. Their wines have been presented to foreign dignitaries and have graced the White House dining table. Jefferson Vineyards offers outstanding mountain views along with nationally recognized wines from European varieties. You're encouraged to pack a picnic lunch, enjoy a bottle of their best, and relax amidst the beauty of a Blue Ridge backdrop."

She concludes, "Charlottesville is a diverse city with something for nearly everyone. Locals plan their calendars around various "hip" events including: Fridays After Five - a community musical favorite on the historic downtown mall; Foxfield Races-a steeplechase event with an elaborate "tailgating" venue; and the Dogwood Festival-fireworks, blues festivals, symphonies, parades, and celebrity visits ..this annual favorite lasts more than a week."

Says Realtor John Stack, "Northside of the city of Charlottesville and just east of airport, Forest Lakes is the largest and most convenient community in the area. It was started in 1989, and completed in 2004. It contains approximately 1400 dwellings--both houses and townhouses. Amenities include two club facilities, walking trails, etc."

About the market, Stack advises, "This is now a tight market. There is lots of new construction underway or planned, but will it be ready when you are? Availability will vary by price category. Plan ahead of the season-- don't delay, lock in what you want now, if possible. Charlottesville area has enjoyed increased sales for more than 20 years. Same for renters - availability is going down and prices are going up. Clients need to be aware that prices have increased dramatically in recent years and experts predict that this can't continue. Any " softening " is expected in largest US cities first. For the 6th consecutive year, home sales have increased in this market, and the number of homes sold rose 15 percent in 2004 VS. the prior year. " Affordable " housing is becoming a political issue."

He suggests, "Forest Lakes is among the most desirable neighborhoods in this area, and new developments---commercial and residential-- all around it just makes these properties more valuable. Prices have increased 10-15 percent in the last 18-24 months and future increases should only slow if mortgage rates move up. In the 4th quarter of 2004, median prices for homes sold declined about 10 percent to $222,000, while days on market increased to 57. This is based only upon the price for properties that were for sale at that time, so the decline in price may mean very little. On the other hand, perhaps this signals the beginning of a softening in demand and swing to more of a buyer's market."

"The University of Virginia is located here," adds Realtor Tom Bibb. "It's a very clean city with equal fall, winter, spring and summer seasons. The market for the Charlottesville area is still going strong . January was excellent for buying and selling. Activity and prices continue to increase in Charlottesville as we head in to February. The time to buy is now and if you are thinking of selling, the time is also now."

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Published: February 4, 2005

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