NRVLiving - Real Estate. Simplified.

Crime Statistics In The New River Valley

The Roanoke Times wrote me this morning to tell me of a new service they're providing on their online site.

It's a crime aggregator, basically - they're compiling crime statistics from across the New River Valley and posting them on Roanoke.com.  Right now, it appears that they've got limited statistics, but they tell me that they're adding stats as quickly as they can. 

I'd love to say that there's no crime throughout the Valley, but the unfortunate truth is that's impossible to say anywhere.  Farmers Insurance thinks we're pretty safe, and I do too, but if you're interested in tracking just how safe your area ... or that new neighborhood you've been thinking about ... is, then this just might something you want to bookmark.

Thanks to Preaprez for the image.

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No Hanging Chads Here

The ballots are closed, the results are in, the after parties are over - here's a link to election results throughout the Valley.  Now, will the Council's get to work?  What do you want to see from your new Council? 

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Do You Have Cooties?

Regardless of where you stand on the BURG vs. First & Main debate going on in Blacksburg, I thought a post on a local blog, "Think, Christiansburg!", did a good job of looking at a broader picture - what are we doing to our region when we consider "development". 

Do I agree with every point in the article?  No, but  the point made in the third paragraph hits the nail on the head - empty storefronts add no quality or value to an area.  Regardless, our elected leaders seem to be negligent at helping to find creative ways to combat this blight.  What will it take?  Maybe the name of the blog should be "Think, New River Valley!"

Here's the text in its entirety:

Dialog published in local newspapers in May 2007 about the proposed development on South Main should be reframed beyond SCATs or Cooties because it affects a larger area than just one community in Montgomery County.

This is more than shifting the local portion of state sales tax within this or that town, or business taxes collected in one town instead of another.  If something is diminished within the NRV, there’s no cause for celebration.

This is more than businesses changing addresses from existing buildings and moving into new buildings. Having empty buildings in our community doesn’t add quality or value.

Do you believe any major chain will maintain two stores a few miles apart, whether Wal-Mart or Books-A-Million?  Look where our area’s original “mart” was located, where Goody’s was located before its last move.  A grocer on South Main recently impacted adjacent tenants due to an anticipated expansion.  Those plans were on hold for months, so once could expect yet another address change was considered. 

How many partially occupied shopping centers do we need within Montgomery County?  How many acres of barren, paved parking lots do we want?   How many miles of sidewalks or bike trails do these unused acres of pavement represent? 

How badly do we want any traffic congestion to be a routine part of getting somewhere, or creating new bottlenecks within our community?   Do we really want town governments and county supervisors fighting over the few dollars available for upgrades to local roads and major traffic arteries?  Or would we rather they work together to get many long-talked about yet unfunded improvements completed?

Is this about Smart Growth, or repackaging sprawl while laying the ground-work for future blight?

No matter how many “anchor” (translation:  big box retailers) stores arrive in Blacksburg or depart from Christiansburg, employees working at these businesses will earn service-sector wages.  It may even cost some employees more to get to work, since the locality with public transportation has the highest housing costs.  This may translate into more cars and congestion in Blacksburg, but where’s the value in that?

The South Main concept was introduced as being “pedestrian friendly” yet that element is now absent, so living where you can walk to work or shop is no longer a factor in the discussion.  No higher paying or new jobs, just a shift on where you may earn or spend wages.

No matter which “anchor” stores arrive, individuals won’t automatically have more money to spend. The presence of nationally recognized chain stores doesn’t equate to a rise in personal income, a decrease in real estate taxes or enhanced government services -- they change  shopping destinations or whether a shopping trip is 5 or 15 minutes away (when people can’t or don’t use public transportation).    Folks, we are not talking about South Dakota here with a 50-mile one-way commute for a loaf of bread.

Why not discuss how proposed developments affect county and both towns’ revenues? Where is economic development in this dialog on creating new businesses, or expanding and sustaining existing ones?  Why recruit fickle chain-stores that leave communities littered with vacant buildings?  These points should be worthy of action and passion, too.

Where is the dialog about identifying how sales, meals or other use-taxes allowed by Dillon rule could be increased, rather than shifted from one locality to another?   Why should a public entity’s business operations receive an advantage over private business owners?  As one example, why must private restaurateurs collect taxes from customers when a public institution is selling “more than 5 million meals each year”?  What would the meals tax revenues be for Blacksburg if ALL diners were taxed?

A redevelopment of one town’s southern gateway creating new sales or tax collection points should stimulate residents to reflect on impacts “anchors” and “chains” represent.  The rising tide theory (if you build it here, they will come from there) isn’t an assurance of real, sustainable community growth (but it’s a pretty sure bet developers passing through and remote big-box corporations will profit).  Let’s bring these points into the dialog instead of creating disharmony about shared values and common wants.

If another acronym is needed as part of this dialog, how about “Corporate Opportunists Overwhelming Towns, Instead of Economic Sustainment”?   Community members should be looking at development from a panoramic perspective, not through a straw.

Could this specific project bring much needed revenue to Blacksburg?  Yes.  Would existing businesses vacate a current location for a new one? Possibly.  Are living wage jobs being added to the local economy? No.

Remember:  convenience isn’t priceless, many people try to get a tentacle attached to your taxes or wallet, and neighbors watch out for each other.

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Motor Vehicle Decals in Blacksburg

Don't forget that as of last month, the Blacksburg Town Council did away with the Motor Vehicle Decals for any vehicle that's garaged within Town limits.  In its place - you knew they weren't going to just get rid of it and not put something in it's place, did you? - they've implemented the "Local Vehicle License Tax".

So what's it mean? 

Instead of decals, the Town will be sending bills on May 15th, with a bill due date of June 15th.  This year's tax will run from June 15, 2008 through December 31, 2009, and for most vehicles will be $37.50 versus the $25.00 decal rate.

Don't forget to check your bill to verify its' accuracy, and let the Town know if anything needs to be corrected.  You can pay with MasterCard or VISA, online at www.blacksburg.gov, or the Town Cashier at 300 South Main Street.  You can also find out more about the tax on the Town's Vehicle License Tax page.

Clear as mud?

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The Language of Building

I received this in an email from Progress Street Builders this afternoon, and I thought it might be good material for the blog.  The text is entitled "The Language of Building", and focuses on definitions of things that you might hear in construction of your new home.  As someone who just finished building a home with Progress Street Builders, I can tell you that they do a good job of communicating throughout the process, and I thank them for putting this out.

• Cycle time is the number of days between the first day on the job site and a home's completion. We work with our materials suppliers and subcontractors to determine a reliable cycle time so that our clients can move into their new home on time, as promised. Controlling cycle time also enables us to provide accurate estimates and helps us stay within budget.

• Rough-in: The "rough" stage of construction is the behind-the-wall structural and mechanical work, the parts you don't see when the building is complete. That includes work such as framing the walls, pulling the wiring through the studs, and installing pipes and heating ducts. During this point of the construction process, we can "rough-in" a system or product that provides an upgraded or extra service, such as wiring for a high-speed Internet or digital cable network. Installing a system's "backbone" during the rough-in stage of construction costs significantly less than installing it once the house is finished.

• Staging: To help reduce costs, we stage or organize and schedule the delivery of materials as we need them, rather than receiving a huge load all at once. Staging may also refer to the way we place loads of materials on the job site to make them more accessible to various workers. Both practices help us reduce waste and theft, save time, and keep better track of costs -- all of which keeps budget and cycle time on track.

• Lien Waivers: these are issued to us by each of our materials suppliers and subcontractors for the work they perform on a house. Lien Waivers (also called lien releases) prove that we have paid the agreed or negotiated costs of labor and materials in full. Lien releases also protect our clients from any liability if suppliers or subcontractors claim that additional payment is due. This type of claim can prevent the closing of the homeowners' loan, so we have a formal process to collect and verify lien releases before the close of escrow on a property.

• Tape and Texture: To create a finished wall, our drywall contractor applies tape and texture to hide nail or screw heads and conceal the joints between panels of drywall or gypsum wallboard. The contractor uses a mud-like compound to fill and cover the nail heads and secure a fibrous tape that bridges the joints between adjacent drywall panels. The mud is allowed to dry and is then sanded smooth before applying paint, wallpaper, or other finishes. A quality tape and texture job ensures that cracks or nail heads won't show through finished surfaces.

They say they're putting more terms out in a later newsletter - I'll be sure to post them here next time.

Drive By's In Woodbine

I bet the homeowners in Woodbine are excited about this ...

From the Blacksburg Alert system:

"Beginning Tuesday, May 6 until Friday, May 9 and again on Monday, May 12, Mt. Tabor Road will be closed to through traffic from 9:00 a.m. to 3:00 p.m. from the intersection of North Main Street to the intersection with Lombardi Drive.

Traffic will be detoured through the Woodbine Subdivision per the detour plan. Emergency vehicles will be required to use the detour plan.

The road is closed so that sanitary sewer and storm drain work can be performed in the street for the Mt. Tabor Village Subdivision project."

If you've got a home in Woodbine and would like to maximize it's sale potential, call me and let's get it on the market! :)  With as much traffic that Mount Tabor handles, this is going to be an inconvenience - but what great exposure for your home!  Seriously - I feel for you while this project clogs up Mt. Tabor. 

Have You Noticed?

The Town of Blacksburg's got a new website, and it's not too shabby.   Pretty easy to navigate, full of much more comprehensive information ... the search feature is still a little rough, but far better than where it was.  Check it out.

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The State Of The Market - April 2008

Continuing the theme from last month, movement in individual segments of the market but really no change in the market overall - despite MAJOR slowdowns in Dublin and Radford.  March moved 133 properties to closing, while April increased that number to 141 properties that closed, yet overall the market stayed almost dead even with the previous month - 11.61 months of inventory, very much a buyer's market right now.  The numbers bear out what we are feeling on the street right now ... increases in market time has led to numbers of homes for sale increasing, with very little improvement overall across the entire sector.  Something to keep an eye on.  Again, we're looking at how long it would take to sell the existing residential inventory in a particular area, if nothing else came on the market until supply was exhausted.  Anything over 5 months is typically a buyers' market, and anything less than 5 months is typically a seller's market.

Area	Active	Sold	Absorption Rate	Buyer/Seller Market
Blacksburg	247	26	9.5 Months	Buyer
Christiansburg	314	40	7.85 Months	Buyer
Montgomery County	79	8	9.8 Months	Buyer
Floyd County	86	10	8.6 Months	Buyer
Giles County	56	11	5.09 Months	Balanced
Pulaski	114	15	7.6 Months	Buyer
Dublin	120	7	17.14 Months	Buyer
Radford	109	4	27.25 Months	Buyer

This month, I wanted to dig into the story a little bit more and see how the market was doing versus last year at this time, so I've compared home sales and average sales prices in April 2007 and April 2008, as well as home sales and average sales prices YTD in 2007 and 2008.  The results were surprising ...

	Apr 08 Sales	April 07 Sales	Change	2008 YTD	2007 YTD	Change
Home Sales	141	176	- 20%	514	560	- 8%
Average Sales Price	$193042	$187450	+ 3%	$185215	$188664	- 2%

While interest rates are still very low, values in the New River Valley have fallen slightly since last year at this time, while they ROSE in April.  I was expecting that they would have risen by 2% or so for the year, not fallen by 2%.  Still, I'm confident that there's not a slippery slope in the market here, although I'm no economist by any means. 

This doesn't mean that there's a bubble waiting to burst here in the New River Valley.  I think the larger picture here is that the New River Valley is seeing those pockets - Blacksburg condos, Christiansburg townhomes, for instance - starting to adjust to normal levels.  Once the market has balanced out, we'll see positive growth again ... and I think we'll see that sooner than later!

 

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Sit Your Hiney Down And Have A Royal Flush

I love the descriptions of each picture.  When times are tough, the tough get silly.

From Jay Thompson and Agent Genius ...