The Real Estate Weekly | 4.1.2020

WWW.CAAR.COM

VOL. 29 NO. 13 n APRIL 1 - APRIL 7, 2020

A P U B L I C AT I O N O F T H E C H A R L O T T E S V I L L E A R E A A S S O C I AT I O N O F R E A LT O R S ®

FREE

A PUBLICATION OF THE CHARLOTTESVILLE AREA ASSOCIATION OF REALTORS® Charlottesville, Albemarle, Fluvanna, Greene, Louisa, Madison, Nelson, Orange, Augusta

What’s Happening to

MORTGAGE RATES?

MOUNTAINS OR LAKES

BY CARLA HUCKABEE

APRIL 1 - APRIL 7, 2020 ISSUE 2913

2

The Quality Of A Person’s Life Is In Direct Proportion To Their Commitment To Excellence - Vince Lombardi Roy Wheeler Realty Co. Celebrates The Excellence And Success Of The 2019 Award Winners Outstanding Resedential Associate

Realtor’s Realtor

Kathy Markwood Outstanding Production

Ginny Barefoot

Susan Stewart

Ednam

CAAR REAL ESTATE WEEKLY WWW.CAAR.COM

Dan & Sue Ann

Outstanding Farms & Estates Associate

Steve White

Outstanding Team

Keith and Yonna Smith

Outstanding Production Outstanding Production Outstanding Achievement Outstanding Achievement

Ednam

Zion Crossroads

Outstanding Achievement

Jim McVay

Julie Holbrook

Outstanding Production

Greene

Outstanding Roy Wheeler Associate

Susan Reres

Exemplary Effort

Katelyn Manci-

Exceptional New Addition

New Horizon

Becky Temple-

Alex Tiscornia

Farms & Estates

Jane Fogleman Exemplary Effort

Byrd Abbott New Horizon

Megan Perry

Greene

Zion Crossroads

Matthew Wood-

Maury Atkins

Most Professional

Mike Peters Marketing and Professional Development

Caroline Rever-

Outstanding Achievement

Farms & Estates

Duke and Sharon

Joan Esposito Community Service Award

Katelyn Mancini Marketing and Professional Development

Mike Plecker

Charlottesville: 434-951-5155 | Greene: 434-985-2348 | Zion Crossroads: 434-589-2611 | Western Albemarle: 434-205-4355 | www.roywheeler.com

3

Roy Wheeler Realty Co. Celebrates The Excellence And Success Of The 2019 Award Winners GOLD MEDALLION CLUB

Byrd Abbott

Maury Atkins

Jim Mcvay

Ginny Barefoot

Dan & Sue Ann Conquest

Julie Holbrook

Caroline Revercomb Keith and Yonna Smith

Susan Reres

Susan Stewart

APRIL 1 - APRIL 7, 2020 ISSUE 2913

The Quality Of A Person’s Life Is In Direct Proportion To Their Commitment To Excellence - Vince Lombardi

Katelyn Mancini

Steve White

silver MEDALLION CLUB

Sarah Buczynski

Kathy Markwood

Gavin Sherwood

Jan Shiflett

Duke and Sharon Mer-

Mike Peters

Lee Wyatt

Charlottesville: 434-951-5155 | Greene: 434-985-2348 | Zion Crossroads: 434-589-2611 | Western Albemarle: 434-205-4355 | www.roywheeler.com

CAAR REAL ESTATE WEEKLY WWW.CAAR.COM

Mike Plecker

Jane Fogleman

APRIL 1 - APRIL 7, 2020 ISSUE 2913

4

The Quality Of A Person’s Life Is In Direct Proportion To Their Commitment To Excellence - Vince Lombardi

Roy Wheeler Realty Co. Celebrates The Excellence And Success Of The 2019 Award Winners bronze MEDALLION CLUB

Dave & Simone Alley

Bevin Cetta Boisvert

Kimberly Johnson

CAAR REAL ESTATE WEEKLY WWW.CAAR.COM

Michelle Pike

Joan Esposito

Tom Linkous

Phyllis Novotny

Alex Tiscornia

Virginia Gardner

Megan Perry

Tim Taylor

Lance Hoover

Alex Ix

Lauri Powell

Fiona Tustian

John Updike

Charlottesville: 434-951-5155 | Greene: 434-985-2348 | Zion Crossroads: 434-589-2611 | Western Albemarle: 434-205-4355 | www.roywheeler.com

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VOL. 29 NO. 13 n APRIL 1 - APRIL 7, 2020

A P U B L I C AT I O N O F T H E C H A R L O T T E S V I L L E A R E A A S S O C I AT I O N O F R E A LT O R S ®

FREE

What’s Happening to

MORTGAGE RATES?

NEWS & VIEWS

Albemarle Housing Improvement Program (AHIP), Jennifer Jacobs, jjacobs@ahipva.org, 434-989-5282, Managing critical home repair needs during social isolation Boys and Girls Club of Central Virginia, James Pierce, jpierce@bgclubcva. org, 434-242-8052, Shutting doors temporarily to after school care due to crisis

MOUNTAINS OR LAKES

Ready Kids, Jacki Bryant, jbryant@ readykidscville.org, 434-882-1027, Suspending programs and finding new ways to serve kids and their families through the crisis

BY CARLA HUCKABEE

What’s

Inside:

APRIL 1 - APRIL 7, 2020

News & Views ............................... 5

What’s Happening Around Town?

Area Nonprofit Organizations on the Front Lines of the COVID-19 Response Community Call to Action: Our Social Impact Sector is Innovative, Resilient, and Urgently Needs Your Support

Central Virginia’s Vacation Homes: Mountains or Lake ......................9

BY CARLA HUCKABEE

HOME FINANCE

What’s Happening to Mortgage Rates? ........................................17

BY CARLA HUCKABEE

GARDEN CLUB OF VIRGINIA: CONSERVATION & LASTING BEAUTY CALL BETH AT 434.817.9330 TO ADVERTISE

City of Promise, Mary Coleman, mcoleman@cityofpromise.org, 434-228-5153, Cancelling programs indefinitely and working with schools to support students while they are out of school Abundant Life, Nathan Walton, nathan@charlottesvilleabundandlife.org, 434-774-5882, Suspending tutoring and youth mentoring while connecting with kids and their families virtually Big Brothers Big Sisters of the Central Blue Ridge, Athena Gould, agould@blueridgebigs.org, Finding new ways to support children in the program African American Teaching Fellows, Tamara Wilkerson Dias, tamara@aatf. org, 804-869-7337, Supporting fellows during school closures Network2Work, Ridge Schuyler, rschuyler@pvcc.edu, 434-996-6780, Connecting job seekers to skills they need to become valuable employees and helping employers find quality employees they need with more limited access now to resources job seekers need (ex. works skills, life management, health, employment opportunity)

New City Arts, Maureen Brondyke, maureen@newcityarts.org, 434-2025277, Emergency relief fund for artists in partnership with The Bridge Progressive Arts Initiative Live Arts, Anne Hunter, anne@livearts. org, 612-991-7285, Shuttering the theater, risking critical program revenue, and pivoting to serving community online Virginia Humanities, Justin Reid, jreid@virginia.edu, 434-390-6443, Cancelling all live programs in the nearterm and supporting partner agencies across the state in response to COVID-19 Thomas Jefferson Planning District Commission, Chip Boyles, cboyles@ tjpdc.org, 434-242-7686, Government entity w/ nonprofit activities at risk and regional policy advisor relying strongly on partner nonprofits at risk, particularly small quasi-governmental and nonprofit agencies who may not be eligible for federal stimulus relief Jef ferson Area Board for Aging (JABA), Marta Keane, mkeane@ jabacares.org, 4703-615-3213, Temporarily closing community centers and now supporting seniors remotely to keep them safe The Center, Peter Thompson, peter@ thecentercville.org, 434-989-0180, Delayed opening of new Center at Belvedere and temporarily cancelling programs because older adults and those with health complications are more at risk.

Got News?

Send your newsworthy submisssions to editor@caarrew.com

No PDFs please only text files will be considered.

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NEXT WEEK:

Our region’s nonprofit organizations, those dedicated to social impact, are on the front lines of the COVID-19 response: They provide services to the elderly, make sure families have access to food, house and support the homeless, provide care and education to our children, and provide arts and culture that sustains us.

Because social isolation is required to slow the coronavirus infection rate, this critical, community-building work has been deeply disrupted and social impact businesses are at risk. Many have had to cancel fundraising events. Some are experiencing a drop in donations. Still others, who rely on older volunteers, are losing volunteer support. And those that depend on income from programs and services, like for-profit businesses, have seen this revenue stream dry up in the last week. Our arts and culture organizations, many of whom rely on ticket and on-site revenue for survival, have had to close their doors completely.

And yet, social impact organizations, no strangers to adapting to address systemic community challenges, have already demonstrated how resilient and responsive they can be in this crisis: • They are providing services in new, innovative ways to meet the growing & emerging needs of their clients • They are partnering with local government, the private sector and each other to leverage community assets for greater impact.

• They are taking care of their employees and their volunteers while having to restructure their business operations Many social impact organizations have, by necessity, transitioned to remote work, but those community support agen-

cies who provide front line services to our most vulnerable citizens may not have that option. There are agencies still open for business while practicing responsible social distancing at the same time.

Our social impact organizations are a critical part of the web that knits our communities together. They are our social safety net. They provide services that our government can’t and our private sector won’t. They work hard every day to make this a region where all of our community members can thrive. The business challenge is this: demand on social impact agencies actually increases when there is an economic downturn or community disruption, and yet financial support often decreases leaving these organizations less able to provide support for basic needs, to offer critical services to children and the elderly, and to enhance our quality of life when we need it most.

Below are examples of organizations finding innovative ways to help our most vulnerable neighbors through this pandemic while managing major business disruption.

Piedmont Housing Alliance, Sunshine Mathon, smathon@piedmonthousing.org, 512-217-0429, Keeping residents housed through the crisis while anticipating significant reduction in rental income creating financial risk for agency

NEWS & VIEWS

FEATURE

5 APRIL 1 - APRIL 7, 2020 ISSUE 2913

CAAR REAL ESTATE WEEKLY

A PUBLICATION OF THE CHARLOTTESVILLE AREA ASSOCIATION OF REALTORS® Charlottesville, Albemarle, Fluvanna, Greene, Louisa, Madison, Nelson, Orange, Augusta

Blue Ridge Area Food Bank, Michael McKee, mmckee@brafb.org, 434-9606519, Emergency food assistance across 25 counties in Central and Western VA with critical reduction in volunteer support

A Virginia Tradition Since 1927 Charlottesville: 434-951-5155

Greene: 434-985-2348

Zion Crossroads: 434-589-2611

Western Albemarle: 434-205-4355

YOUR PLACE. OUR PURPOSE.

Ednam Hall • Dryden Lane • Charlottesville, VA 22903

®

®

Homes@RoyWheeler.com • www.RoyWheeler.com A TRUE A Virginia EUROPEAN Tradition Since 1927

LI N ST EW IN G

APRIL 1 - APRIL 7, 2020 ISSUE 2913

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TOWNHOME

Charlottesville: that 434-951-5155

Zion Crossroads: Western Albemarle: has Greene: been 434-985-2348 434-589-2611 434-205-4355 lovingly redone by seller Ednam Hall •like Dryden Lane • Charlottesville, VA 22903 and shows a “piece of Homes@RoyWheeler.com • www.RoyWheeler.com art”. Located 2401 Southside Dr | North Garden 3425 Loch Brae Ln | Charlottesville 760 Golf View Crozet only Dr 10 |min. from UVA Country home on 7 acres with mountain views. Great Room South Fork Farms 15 minutes south on Rt 29. Large Incredible value in Old Trail. Light filled, energy efficient ENJOY PEACEFUL DAYS on the covered ENJOY SUNSETS from the 2nd level of this DON’T MISS this spacious custom home and 5 min. with vaulted ceilings, first floor master, reclaimed heart pine Colonial on 4.32 acres. 4 BR, 2.5 BA. Hardwood floors Peak Construction home w/mountain views. Charm and porch in this like new 3BR/2BA 1-level home 4BR/3.5BA home in sought after Cascadia with split floor plan, fully floored attic, huge from “Shops throughout the first floor, large kitchen w/breakfast nook, floors, new country kitchen and 2 fireplaces. Additional quality finishes throughoutshiplap, extensive trimwork, in sought-after Western Albemarle school dis- built in 2017. Shows like a model located only walkout basement with full bath but remainfamily room with fireplace, dining room & formal LR. at quartz, Stonefield”.

Open conceptMaster on first level marble and granite! suite & finished basement. carport will house your RV and boat. Private setting. trict sited on a half-acre near Lake Albemarle. 2 miles from the Downtown Mall. WALK to der unfin., multiple double doors and winextending to a private peaceful oasis-patio. Home improvements include: entire exterior the pool, clubhouse, nearby GRIT coffee and dows, screened porch opens to large deck, $650,000 | montaguemiller.com/mls=597845 $575,000 | montaguemiller.com/mls=587366 $411,950 | montaguemiller.com/mls=598376 Two generous sized bedrooms on the second gray.

ALL | 434.981.1421 restaurants. Upgrades include granite counterDoug hardwood gas fireplace, real fieldstone, Laurel Smith | 808.280.6431 of home painted a craftsman-style Anita Dunbar Burke floors, | 434.951.7122 level each with its own bath. HOA covers NEW: heating & air conditioning, plumbing, tops, stainless appliances, under cabinet light- perfectly maintained. The whole house has just everything including a small gated pool and hot water heater, deck, windows, sliding doors, ing and hardwood flooring. Master suite with been painted. Property backs to open farmbeautifully kept grounds. $249,000. Joan pellet stove, carpet, bamboo flooring, deck, tray ceilings and 2 closets. 3 additional BR, full land. $385.900. Fiona Tustian, 540-661-9089.

Esposito “Your Running Realtor”, 434-760- septic system. $255,000. Simone Kerber Alley, basement w/full bath. $485,000. Simone Ker- FionaTustian1@gmail.com (599703) 434-760-0076. (601138) ber Alley, 434-760-0076. (601471) 1028. (601505) ®

®

OK 2072 Timber Pointe Rd | Charlottesville

84 Birch Way | Barboursville

Charming home in Forest Lakes community! This home

Renovated 4 BR home in spatial Preddy Creek. No HOA

222 Old Lynchburg Rd | Charlottesville Attractive cape-cod style home in a great location in

ESTATE PARCEL w/views of WYNSTON, 32.4 ACRE sit-family EQUESTRIAN ESTATE in the of WONDERFUL 21Spring. acre 4 BEAUTIFUL Fry’s BR, 2 BA home with off street parking. features anAextensive openESTATE yard, large room fee, but a very willHeart maintained subdivision with LOCATION, pride of Southwest Mts.Walkable and HappytoCreek.

Soil reports uated 20 miles north of Second Keswick. homes are New known forcarpet, nat- paint property backs to the Rivanna Excellent River giving proximity to UVA. shops, withapproximately fireplace, & cabinet-lined kitchen. levelCottage ownership. roof, & granite counters. complete 5+ Club bedrooms.

Underground Charlottesville in the heart of theaPiedmont charm & comfort Kesmont offers Large Spring for Beach and Wegmans. offers 4 bedrooms including large masterural suite. granite and counters upgrades. back you private a country feelyard. yet minutes restaurants, to shopping, Fry’s Valley. On a pristine parcel of gently roll- a refined country house. renovated kitchen amenities, easy access to airport. Very large power by Dominion at front of parcel. 35% | open, montaguemiller.com/MLS=595427 $335,000 and | montaguemiller.com/mls=59771 $344,900 | montaguemiller.com/mls=591830 rolling fields, 65% mature woods. Elevaing countryside panoramic vistas of w/chef ’s layout, granite tops & maple cabi- classic brick home with over 8700$275,000 finishedCarter Montague | 434.962.3419 New Leaf Team | 434.260.8980 Brad tions provide excellent Homesites. Land mainBlue Ridge Mountains.

Custom built to netry. Open floor plan with chic & Conner charm- | 434.953.8124 sq. ft., 6BR including double master, 4 full tained, seeded & fertilized; consists of highly the highest standards, craftsmanship is evi- ing living spaces. Gunite swimming pool, dent, and no detail was compromised. Call 10-stall stable w/tack room, wash rack, rid- & 3 half baths, abundant storage in the 2300 desirable Davidson soil. VDOT entrance for more details of this spectacular home. ing arena. Board fenced paddocks w/water. sq.ft. walk up attic, 1155 sq. ft. 3 car garage approved & installed. Scenic 14mi drive to $2,100,000. MatthewWoodsonProperties. $1,495,000. Duke Merrick, 434-962-5658. over 3000 sq. ft. of patio. $2,599,000. War- C’ville. $415,000. Duke Merrick, 434-962ren Maupin, 434-962-8939. (601118) 5658. (600048) com 434-960-5187. (598150) (593206)

CAAR REAL ESTATE WEEKLY WWW.CAAR.COM

OK 300 Riverbend Dr | Charlottesville

2448 Abington Dr | Charlottesville

1701 3rd St | Waynesboro

This Brick Front Townhome is walking distance to Great light filled 2nd floor corner condo in Riverbend.

One Story Cape Cod Style 2 BR home with relaxing Hollymead Town Center. Beautiful LIGHT-FILLED The “Potomac” model features a unique flowing floor covered front porch. This charming home features large CARDINAL Thissuites, 2.3 acre lotwith is enKESWICK ROYALhas ACRES - 20 lots in Al-ample sized closets, and a nice sized KitchenESTATES. Incredible 2 Kitchen with 2-car garage attached. an ISLAND & of record plan with 2FOREST. large master each suite full bedrooms, breakfast nook.hardwood OPEN CONCEPT LIVING on first floor. 10 Dining located one of thePool, mostFitness beautiful areas bemarle County within minutescombo to area. Convenient location for commuting. bath.in Community Center and Clubhouse. acres of beautiful elevated,

Celebrating Over Ninety Years Trust, Tradition & Market Leadership

of Greene County. Privacy & solitude are forest privately situated and quietly Charlottesville and UVA. Just over 30 acres, $215,000 | montaguemiller.com/mls=595698 $275,000 | montaguemiller.com/MLS=598702 $120,000 | montaguemiller.com/mls=598714 protected by towering hardwoods and the tucked at the end of a cul-de-sac mostly pasture, currently grazing cattle with on | 434.962.1419 Carol Costanzo Trish Owens | 434.825.5393 Kyle Olson | 540.649.4131 rural surroundings of farms and views of the the grounds of the grand Keswick Es- flowing water and Southwest mountain Blue Ridge Mountains. Enjoy the feeling of tate. Priced under cost and under as- views. Conservation easement! Now of800.793.5393 Serving Centralfered Virginia over seven beingMONTAGUEMILLER.COM worlds apart yet only 5 minutes from | sessment. for onlyfor $339,500 (assesseddecades. for over $265,000.| JimBonner.com CHARLOTTESVILLE | AMHERST MADISON | CULPEPER | ORANGE shopping & Northern Albemarle. $79,000. | 434-951-5102. $500,000). info@stevewhiterealtor.com jim@jimbonner.com View All Open Houses Online MatthewWoodsonProperties.com 434- (496155) Steve White, 434-242-8355. (599177) Use Your Phones camera To Scan 960-5187. (599184)

Celebrating Over Ninety Years Trust, Tradition & Market Leadership

7

A DREAM HOME IS GREAT, BUT THE RIGHT ONE IS BETTER. TOTIER HILLS FARM

Exquisite brick residence, over 9,000 finished square feet, privately situated on almost 100 acres within 15-20 minutes of Charlottesville. Built circa 2001 of best quality materials with expert craftsmanship, and meticulously maintained by current owners. Rolling land invites $325,000 COUNTY many agricultural ALBEMARLE and recreational opportunities. Other improvements include a pond, swimming pool with extensive terraces and pool pavilion, detached garage/shop. MLS#600284 $2,700,000 Jim Faulconer, 434.981.0076 Call, text or email for brochure, more details: wwwTotierHillsFarm.com

Let an agent who knows guide you.

3859 PRESIDENTS ROAD

NOW $269,900

RED FOX LANE

Enjoy mountain views of the historic Southwest Mountains from this livable 4-bedroom residence on 6-private acres. Convenient and quick to Pantops, Downtown Historic Mall, and UVA. Within steps of all the amenities at Keswick Hall. MLS#594327 $895,000 Charlottte Dammann, 434.981.1250

Bev Nash

434-981-5560

Ruth Guss

• Renovated 3 bedroom, 2 bath, home • One level luxury living • 1350+/- sf on 1.4 acres • Vaulted ceilings, ceramic tile floors • New kitchen and bathrooms • Rear deck, high end appliances

707 Rosewood Dr.

BELLAIR

434-960-0414

133 BLUE RIDGE DR

C. 1953 brick home, private 1-acre lot. Personal home of well-known architect, William N. Hale, 3 BR, 2 BA, LR, kitchen, dining room, and hardwood floors. Convenient, close-in location minutes west of the city limits. More acreage available. MLS#601140 $685,000 Steve McLean 434.981.1863

$424,900

#COMINGSOON IN TURT 2 UNITS AVAILAB

• 4 Bedroom, 3 Full Baths, 3,300+ Sq. Ft. • Beautiful Solid Oak Floors on Main Level • Granite Counter Tops & Stainless Appliances • New Master Bath with Tiled Shower • Side Screen Porch, Circular Paved Driveway • Stone Robinson Elementary School District

$262,000

APRIL 1 - APRIL 7, 2020 ISSUE 2913

EAN FAULCONER INC. MCLFarm, Estate and Residential Brokers

COMING SOON IN LAKE REYNOVIA RAPIDAN FARM

1,674-acre farm/estate in the Piedmont Hills of Orange County! Set in total privacy and borders the clear waters of the Rapidan River for almost 4 miles. Additional offerings available. MLS#575383 $11,600,000 Steve McLean, 434.981.1863 www.RapidanFarm.com

Shannon G. Hudson

540.661.2083

2 BED 2 BATH W/SOL • Classic home in a classy neighborhood • 5 bedrooms w/3 masters, 4.5 baths • Landscaped w/brick courtyard & fountain • Partial basement w/1 car garage • Sunroom, FP, built in bookshelves

117-3: $170,000 102-3: 7102 Blackwells Hollow Rd MLS 589947 $163,000 HIGH GROUND

Charming, Ivy mini-estate, is perched on a knoll to take full advantage of the Blue Ridge Mountain views. One-level, 3-bedroom, 3-bath residence with separate garage is located only 6 miles west of UVA in Western School district. MLS#600742 $675,000 Tim Michel, 434.960.1124

COMING S

NEW CONSTRUCTION

Dan Corbin

434-531-6155

• New 3 Bd, 2 Ba, One Level, 1550 sq ft • Beautiful Cul de sac location, Wooded View • No HOA, Well & Septic = No Water Bills • Many Upgrades, 2 Car Garage, Quality Local Builder • Fluvanna Co, Near Schools, Hi Speed Internet • Still time to pick colors. Ready Feb 2020 • MLS 598132

Cabin on the Tye

$327,000 OAKLAND FARM

Candice van der Linde 434-981-8730

• 3 bed 2 full bath one level single family home.

• Screened porch addition for year round enjoyment.

• Private yard.

• Split bedroom design with gleaming hardwoods & tons of natural light.

• Large garage w workshop space & Extended driveway • Offered at $347k

$360,000

663± acre working farm dating from circa 1767 with over a mile frontage on the Willis River in Cumberland County. Character-rich, 5-bedroom main home, circa 1740 guest cottage, barns, and other outbuildings. MLS#549952 $2,595,000 Steve McLean, 434.981.1863

Dan Corbin

434-531-6155

434.985.0021 410 West Main Street Charlottesville, VA 22902 Downtown

Exceptionally charming cottage-style home with wonderful open spaces nestled on 25+ acres in the heart of Free Union’s finest estate properties. 4-BR, 3.5-BA, energy efficient home is surrounded by its acreage with a lovely view and delightful setting. MLS#596705 $1,485,000 Steve McLean, 434.981.1863

THE ROCKS Designed by local architect Richard Funk and built on a lot that provides Lori Click privacy and 434-326-7593 gorgeous Blue Ridge • 3 bedrooms, 2Mountain full baths, 1,730 Fin. Sq. Ft. views.

1st-floor master, • 19 +/- Acres, open & ready to bewith fencedfireplace, for animals spacious living room • Quality brick home with “good bones” gourmet chef ’s kitchen with breakfast • Needs cosmetic TLC area opening to screened porch, dining • Brick, detached 2 car garage with electric opener room with abay and wet bar, • In-ground pool, just needs new window liner MLS #594708 family room with built-in book shelves and fireplace. 2nd floor: 3 bedrooms, 3 full baths, and storage. Walk-out lower level: 2 bedrooms, full bath, exercise room, rec room, and ample storage. MLS#601178 $1,285,000 Steve McLean, 434.981.1863

• • • • • • • •

3 bedrooms 3 full baths Massive decking Beautiful stone fireplace Mountain Views Over 5 acres 3248 SF $465,000

434-465-4444

MLS# 598510 FRAY’S GRANT TURTLE CREEK

Ten fabulous home sites mostly in beautiful hardwoods, gently rolling and PRICED BELOW TAX ASSESSMENTS! Two lots have 21 acres each, private settings and frontage on the Rivanna River. Ten minutes to Airport, excellent shopping.

Call Jim Faulconer, 434.981.0076 for pricing.

Candice van der Linde 434-981-8730 • • • • • •

2 UNITS AVAILABLE 2 Bed 2 Bath w/Solarium Superiorly well maintained Tenants until Spring 2020 Keep as an investment or owner occupy May work out a deal for cash buyers obtaining both units • 117-3: $170,000 - 102-3: $163,000!

CAAR REAL ESTATE WEEKLY WWW.CAAR.COM

• Log Home on 29 acres near Crabtree Falls • 2 bedroom, 2 bath, Fireplace, Furnished • 400+ ft. on the Beautiful Tye River • Perfect Full Time, Weekend or Vacation Rental Home • Call agent about MLS 595601 Enjoy Nelson Co.!

Fluvanna County WESTFIELDS

Pat Burns

Superiorly well maintained SPRINGDALE Tenants until Spring 2020 Built around 1800 in eastern Goochland County, 434.974.1500 approximately 30 minutes fromkeep downtown as Rich-an investment Option to Glenwood Station Ln mond and 943 45 minutes to downtown Charlottesville.

Property includes 60 acres, a pond, woodland, and Suite 203 May work out a deal for cash bu garage apartment. MLS#1930232 $995,000 Philip Charlottesville VA 22901 Reed, 804.833.8325 or Steve McLean,434.981.1863 both units

503 Faulconer Drive| Charlottesville | VA 22903 | office: 434.295.1131 | email: homes@mcleanfaulconer.com

WWW.MCLEANFAULCONER.COM

APRIL 1 - APRIL 7, 2020 ISSUE 2913

8

EAN FAULCONER INC. MCLFarm, Estate and Residential Brokers

HANDLEY FARM ESTATES

Impeccably built 4-bedroom home with gorgeous mountain views on nearly 5+ acres in Western Albemarle. A 10 minute drive to Waynesboro or Charlottesville and walking distance to awardwinning breweries and wineries. MLS#585923 $1,295,000 Steve McLean, 434.981.1863

RED HILL

Historical circa 1835 Antebellum-era brick home on 35 acres. 4 covered porches to enjoy the wonderful rolling pastures and Blue Ridge Mountain views.

Convenient to Rt. 151 wineries, breweries, restaurants, Wintergreen, and Charlottesville. MLS#600498 $545,000 Steve McLean, 434.981.1863

WEST LEIGH

CAAR REAL ESTATE WEEKLY WWW.CAAR.COM

Over 5,000 finished sf., 4 bedrooms, 4.5 baths, on elevated 4.5 acre lot with quiet setting and mountain views. Renovated, spacious floor plan, main-level master, and walk-out terrace level. Priced below tax assessment at $895,000. MLS#599691 Jim Faulconer, 434.981.0076

CHURCH POINT FARM

Once-in-a-lifetime opportunity to own an entire “neck� of 944 acres along the lower Chickahominy River with 8 miles of shoreline which is managed for cropland, waterfowl, deer, turkey and dove. The property features 3-BR brick dwelling. MLS#1912243 $4,475,000 Philip Reed, 804.833.8325 www.churchpointfarm.com

MILTON VILLAGE

21-acre lot located just minutes east of Charlottesville. Level building site with 4-board fencing along the road frontage. Creek, small pond, and automatic waterers. Public Rivanna River access only half mile away. MLS#586469 $398,000 Mark Mascotte, 434.825.8610

SOMERSET

Circa 1856, 4-BR, 3-BA home on 4+ acres fronting the scenic Rapidan River and adjacent to other large historic farms and estates in Orange County.

Located 30 mins. to Charlottesville, 60 minutes to Richmond and 90 minutes to DC. MLS#596560 $845,000 Steve McLean, 434.981.1863

BELLAIR

Solid-built c. 1953 brick home on private 1-acre lot in desirable Bellair. Beautiful, mature landscaping surrounds the home. Convenient, close-in location minutes west of the City limits. More acreage available. MLS#601140 $685,000 Steve McLean, 434.981.1863

LONESOME MOUNTAIN ROAD

5-acre lot with road frontage only 4 miles from Charlottesville. This country but close-to-town location is conveniently located with quick access to Historic Downtown Mall, Martha Jefferson Hospital, UVA, NGIC, airport, and North Fork Business Park.

MLS#593160 $250,000 C. Dammann, 434.981.1250

SUMMIT RIDGE TRAIL

Expansive Blue Ridge Mountain views from this custom built comfortable residence on a protected 1.4 acres. Spacious bright living areas, upgraded kitchen, 4 BR and 2.5 BA. Flexible space all with-in minutes of I-64, Pantops, Downtown, & UVA. MLS#597258 $1,195,000 Charlotte Dammann, 434.981.1250

AUTHENTIC LOG CABIN

On Wintergreen Mountain. Custom built, magnificent details and craftsmanship. Private but close to golf, skiing, spa, and hiking. 3 bedroom suites on 2-levels, screened porch, large decks. Selling fully furnished, million dollar property at bargain price: $475,000 MLS#591549 Jim Faulconer, 434.981.0076

NOTTINGHAM ROAD

Spacious main level with living room, kitchen/ family room, dining room, sun room, first floor master bedroom/bath. Nestled in a quiet residential neighborhood but convenient to UVA, downtown, North Fork Research Park, and NGIC. MLS#599498 $689,000 C. Dammann, 434.981.1250

VILLA DESTE

Over 5,000 finished sf., 4-BR, 4.5- BA manor home, recently expanded with generous main-level master suite including mostly finished walk-out terrace level.

Great setting, private, with pastoral and mountain views. Western School District! MLS#601834 $1,227,000 Jim Faulconer, 434.981.0076

503 Faulconer Drive| Charlottesville | VA 22903 | office: 434.295.1131 | email: homes@mcleanfaulconer.com

WWW.MCLEANFAULCONER.COM

Wintergreen Resort At Wintergreen, 85 percent of the homes are second homes. Merrick sees all five reasons come into play for buyers looking there.

But you can’t top the personal enjoyment factor. As a mountain top resort, the amenities are built on the peaks rather than at the base of the mountain.

Skiing, tubing, 45 holes of golf, tennis, a spa, and full-service restaurants combine to make this fun all year long. Add in the Nature Foundation at Wintergreen, hiking trails, and proximity to the Nelson 151 Craft Beverage Trail and there’s no reason to leave.

It took a little while for Wintergreen to recover from the 2007-2009 Great Recession, and recent ownership changes have made significant improvements.

But Merrick says “Wintergreen is still a bargain. Consensus is that the market for homes here has bottomed out, bounced and is on the rise. If price is a factor, don’t wait too long to decide because from here, prices are headed up.”

9 APRIL 1 - APRIL 7, 2020 ISSUE 2913

capture appreciation, though Merrick says this has not been a huge advantage over the past couple of years. And fourth is for liquidity by being able to sell a home within three to six months.

With all those reasons to buy, how is the market for vacation homes?

Massanutten Resort

homes for sale makes it a sellers’ market, while extraordinary financing conditions entice buyers to participate because the numbers work and there is so much fun to be experienced.

Five of the more popular places to purchase a vacation home in this area are Wintergreen Resort, Massanutten Resort, Lake Anna, Lake Monticello, and Smith Mountain Lake. Each have their own unique attractions that draw different buyers to them.

Why Buy a Vacation Home?

Tim Merrick, REALTOR® with Wintergreen Realty, LLC, describes five basic

motivations that move people to buy a second home. One is personal enjoyment. Central Virginia has so many different activities for owners to enjoy, making it a high target area for vacation homes. Year-round outdoor activities and cultural and entertainment venues abound. Whether buyers are looking at one of the nearby resort or lake communities, a rural property or downtown Charlottesville, this area is a hotbed for personal enjoyment.

The other four motivations are related to financial goals. One is to purchase a home as a tax shelter. Second is to generate income through rental; third is to

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T

ake your pick. Vacation in the mountains, on the water, in the country, or in town. Central Virginia has more options than most and there’s no better time to see if a second home is right for you.

Not everyone is interested in buying and owning a second home. But more are both interested and able, because the short-term rental market has put that goal within reach of more people than ever before.

What’s true in the general residential real estate market is also true in the vacation home market. A shortage of

BY CARLA HUCKABEE

FEATURE

MOUNTAINS OR LAKES

Just 50 miles to the north, in Rockingham County, is the other area all seasons resort, Massanutten.

Like Merrick, Jeff Konstant, of Massanutten Realty, is bullish on vacation homes. And he’s particularly enthusiastic about homes in Massanutten Village, with good reason. It is within two to four hours of major population centers like Washington and Baltimore, making Massanutten’s popularity easy to understand.

But the feather in Massanutten’s cap is being recognized in February 2020 by Evolve Vacation Rental as one of the top ten best places to buy a vacation rental in the United States to maximize return on investment. Massanutten Village (the McGaheysville, Virginia zip code) came in at number two!

Konstant was not surprised. Massanutten Village checks all the boxes: proximity to population centers, yearround outdoor recreation, and ease of renting short-term. With the Resort, Shenandoah National Park, and the Appalachian Trail all close by, the hiking, golf, canoeing, rafting, skiing, horseback riding, and anything else outdoors is virtually unlimited.

While Konstant recognizes the hit the economy is taking with the pandemic, he remains optimistic about the viability of the vacation home market. Stock market declines, or even high volatility, often drive people to move their money to real estate. Given everything that’s good about this area’s opportunities for high enjoyment and high return on investment, Konstant expects that trend to continue in Central Virginia.

For those that would rather be near water than in the mountains, there are plenty of lake front options.

APRIL 1 - APRIL 7, 2020 ISSUE 2913

10

2 Virginia Lakes...

SML

SML

FEATURE

LVL

LVL

3319 ISLE OF PINES DRIVE

125 LAKE SHORE DRIVE

269 PENINSULA PLACE

755 GARRISON RIDGE

Gorgeous 5+ acre lakefront estate. Brick columns & stamped drive entry, circle driveway, beautifully landscaped grounds, all brick low-maintenance exterior. This 5 BR Traditional home features solid wood doors, hardwood & ceramic tile floors, special acoustic walls & highend sound system in home theatre room, and freshly updated kitchen & 4.5 bathrooms with new fixtures/vanities/showers.

Fenced back yard for dog/kids, leads to a wonderful Dock and Lakefront retreat.

MLS# 867139 $1,299,000

Traditional Lake Home at Contentment Island. There are Three 15X18 Master Bedroom en-suites/baths which makes this home a delight for guests as well as the homeowners. Cathedral ceilings in great room, 9’ ceilings on entry, and 10’ ceilings on the Lower Level. Solid wood doors, wood-stained trim throughout.

Landscaped beautifully with irrigation and slate patio with like-new hot tub and a huge Deck overlooking the lake! Southern facing on lakeside in a huge cove.

MLS# 867139 $859,000

Incredible & Private, Lake Home on a Point Lot looking down the main lake towards Smith Mountain! Mostly one-level living home with soaring ceilings, great room with fireplace, huge kitchen, and even a 2nd Kitchen in the Lower-level and pool table room. Paver patio with built-in outdoor lighting and gorgeous sunsets at the fire pit down by the lake. The Dock is a one of the largest, is spectacular with a covered slip and disappearing Seadoo lift/port, large covered deck, with a huge party deck on top providing expansive views in all directions.

MLS# 863873 $759,000

Impressive ‘Jim Barna’’ Log Home on a private gentle tapering Point Lot w/185 ft. WFT. & Covered aluminum Dock with boat slip! Quality Features thru-out includes random-plank Carlisle Hickory floors, radiant floor heat and 2 zone geo-thermal HVAC. Cathedral ceiling in Great room w/Fireplace, lg. Dining area & upgraded Kitchen w/huge Pantry; cozy bay-window breakfast nook and true one-level–living. Timber-tech Decking w/ iron-look railings overlooking the Lake.

MLS# 867416 $755,000

LVL

LVL

LVL

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LVL

325 FALCON VIEW DRIVE

175 WATER VIEW COURT

565 GARRISON RIDGE

1870 MERRIMAN WAY RD

865 CLEAR POINTE RUN

Incredible open floor plan-Jim Barna, premium hewn 12’’X8’’ SQUARE-LOG Home on Leesville Lake! Perfectly situated only 60ft from a covered Alum-Dock W/Ironwood planks. JELD-WEN Alum windows & Doors/DBL Pane/Solar Tint, Beams, One-Level living. Stone FP, Upscale kitchen w/gas range, Paved driveway 2 car garage, WOW-LAKE-VIEWS! Awesome Pavers Patio & FirePit Area. Gretna School System.

MLS# 860535 $695,000

Contemporary-Brick Ranch, openfloor plan lake home with awesome-unobstructed Lake Views!!

Updated chefs kitchen w/custom cabinetry, tile splash, granite Ctops, stainless appliances/ range hood, MBR Suite, Office, crown mldg & gleaming hardwood floors. L-Level has 2 Lg. BR/2 BA’s, pool table room just off the lg seating area w/FP over-looking the lake. Pavers, landscaped retaining wall/flwr beds, walkway to Covered Dock, w/swim floater & boat lift. MLS# 859784 $599,000

Beautifully appointed low-maintenance Home on an Eagles-perch above Leesville Lake.

Open floor-plan w/FP, hardwood & ceramic tile floors w/ high ceilings. WOW-Kitchen w/ high-quality features: Solid Maple Cabinetry w/pullout drawers, granite c-tops, outdoor Deck w/19’ elec-awning. Bonus rooms above garage, extra BR & Office.

Entire LL is unfin-basement storage/playroom, easily finished.

Huge Slate rock Lower Patio w/Hot Tub & gas Fire Pit area.

MLS# 826399 $599,000

This beautifully maintained 3 BR, 3 FB home is neat, clean and well-built with NO HOA, and sits on a large 3 acre lot.

Lower level 4th BR possible and a 2nd Kitchen as well.. perfect for teenager, mom, or guests. Plenty of room to do whatever you like and includes a large detached 16x24 shop for woodworking or hobbies. Covered screened in porch and full-length deck overlooking the lake.

MLS# 863580 $499,000

Wonderful Vacation or Retirement ‘Barna’ Log Home on 3 acre lakefront lot in Runaway Bay. Beautiful wrap-around covered porch and Decks, with a side-porch outdoor Fireplace!

Walk 3-panel glass/Wood Front Door into Vaulted ceilings and exposed Beams; granite counter tops, solid maple cabinets, Stainless Appliances, Fireplace in Great room and big windows to the lake and outdoor Decks!

Upstairs loft has a Bedroom/ FBath and open loft sitting area.

MLS# 867375 $439,000

SML

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2 Lake Lifestyles

Smith Mountain Lake Leesville Lake

37 ACRES

LVL

122 POINTE O WOODS DR

6767 HEADENS BRIDGE RD

305 BLAZING RIDGE DR

You will fall in Love with this hybrid Log/Timberframe home; woodsy lot with views of the 16th green in ML golf course! Exterior looks like siding, but is full logs very energy efficient! Huge wall of windows allows in lots of light, w/tongue & groove wood ceilings, expansive open interior with exposed beams; floating open-staircase to Loft/Office with add’l bedroom possible; and 2 Kitchens! Lower level is a big area with kitchen, play room with pool table & wood-stove heats entire house; Space for 4 BR’s.

MLS# 860975 $335,000

This unique 4 BDRM 2.5 BTH home is situated on a very private 37.86 wooded acres. There is almost a 300 ft driveway from the road to the house, so privacy is assured. At the back of the property, 2 creeks come together forming a very bold Castle Rock Creek...Imagine children wading or fishing in the creek on a hot Summer day. There is an abundance of wildlife for your enjoyment. There is a small cleared area behind the house for family picnic or be creative.

MLS# 866869 $335,000

Amazing point Lot location

with long VIEWS in both directions and a flat walk to the lakefront...recent upgrades include new flooring and paint, plumbing/lighting fixtures, and porch-Coming Soon: New firepit, Appliances, & Countertops. Lots of bonus room(s) both finished and unfinished for playroom, hobbies and an office at the lake! Convenient location. only 15 minutes to Smith Mountain Lake State Park art and Huddleston.

MLS# 860750 $325,000

Reg AndeRson, ABR, GRI REALTOR® REG(540) ANDERSON , ABR, GRI Cell: 580-6960 REG ANDERSON , ABR, GRI REALTOR® E-mail: RegAnderson@Realtor.com REALTOR®

Cell: (540) 580-6960 www.VirginiaPropertiesAndHomes.com E-mail: RegAnderson@Realtor.com www.LeesvilleLakeRealtor.com Cell: (540) 580-6960 www.VirginiaPropertiesAndHomes.com

E-mail: RegAnderson@Realtor.com 2 Virginia Lakes - 2 Lake Lifestyles www.VirginiaPropertiesAndHomes.com

Showing SML Smith Mountain Lake 2 Virginia Lakes - 2 Lake Lifestyles

by Boat!

Leesville Lake

Mountain Lake esville Lake

LVL

775 PLAYCATION RETREAT DR Charming and well-kept 1920 Farmhouse to the original farm, Lots of updates in the interior, an outdoor shower, as well as the original claw-foot tub in MBA. Beautiful original bead boarded & Shiplap walls, original doors, hardware, pine plank floors, and a front porch and patio overlooking lush landscaping, a beautiful pond, and seasonal Leesville Lake views. Come see this unique and historic property!

MLS# 858385 $179,000

LVL

LOT 25 PLAYCATION RETREAT DR Gentle Lakefront lot with nice U-shaped floater Dock and open boat slip! Affordable and perfect for RV or small tiny house or cabin, or simply to enjoy all that the lake has to offer. Low restriction type community with well-maintained gravel roads and a community boat ramp and beach, MLS# 858782 $99,000

OR $278,900 FOR BOTH!

“At Lake Anna, the market for vacation waterfront homes has been booming this year,” says Ashley Walton Hoffman, REALTOR® with Lake Anna Island Realty.

“Given the low inventory, it is certainly a sellers’ market, and our seller clients are getting top dollar for their homes and maximizing their equity positions.

Often, the home sells for more than the asking price.”

“To help increase our inventory, we’ve been ringing the bell, advising our clients that now is the time to sell if they are thinking about it.”

And buyers have been benefiting from easy borrowing and low interest rates. “Many of our buyers have primary residences elsewhere and purchase waterfront homes at Lake Anna as a vacation or investment home. This is a popular vacation destination with homes fetching $6,000 or more per week as a rental.

Other buyers are finding their dream homes or their retirement homes here.”

Buyers come from Charlottesville, Northern Virginia, Washington, and the mid-Atlantic states. But it’s not unusual to see buyers from California or even international clients.

“We recently assisted a couple from D.C. with the purchase of a lovely waterfront home on Lake Anna. Not only did we help them find the house, but we helped them shop for a boat that would be just right for this couple and their two kids. It was so gratifying seeing them with keys to the boat and keys to their new home, knowing they would make memories to last the rest of their lives.”

What’s Driving the Buying?

Lake Monticello

permitted but long-term rentals are.

With interest rates so low, now is a great time to talk to a REALTOR® specializing in lake properties. You can be pretty sure that prices are likely to go up.

“Our motto has always been ‘Vacation year-round at Lake Monticello.’ As a homeowner of 23 years, I can personally say the lake is a great stress reliever.” Just what we all could use right about now.

Smith Mountain Lake Another waterfront destination is Smith Mountain Lake, south east of Roanoke, where Deb Baran, Associate

Broker with RE/MAX Lakefront Realty, Inc., says the water is fine, and so is the market. Sales were very strong in 2019, the best since 2007-2009, and the first quarter of 2020 has kept pace.

“Now with the pandemic, we are going through a lot of uncertainty. But our experience during crises, is that places like Smith Mountain Lake become safe spots for people to ride out the storm.

With flights curtailed and big cities seeing limitations, people who normally travel are rethinking the whole vacation concept. A haven a few hours from home becomes very attractive.”

Some of the expansion in the vacation home market occurred because it became easy to subsidize the purchase with short-term rental income.

Konstant explains. “Airbnb has exploded the market. Before they came into the picture, VRBO/HomeAway was the only big platform available globally.

Now anyone with a smart phone can create their own vacation rental platform.”

“Not only did it bring in more buyers, Airbnb influenced the size of homes being built. During the 2004-2006 boom, the demand for bigger homes with more sleeping capacity became all the rage in the vacation market. This allowed owners to attract larger groups for short-term rentals and gain more revenue to support the investment.”

The current combination of stock market losses and volatility, coupled with the capacity to reduce the cost of owning a second home, is likely to continue to drive buyers to wonderful places throughout Central Virginia.

But the real draw is just how much fun it can be to own a vacation home here.

Carla Huckabee is a writer on healthy communities and high performing real estate and used Airbnb to subsidize a second home in Charlottesville before moving here.

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For a different kind of lake experience with more permanent residents, check out Lake Monticello. Vicki Wilson, Principal Broker/Owner of Monticello Country Realtors, agrees that the vacation and second home buyer market is doing well. Lots of options exist with an inventory of 38 active listings as of this writing, ranging from $149,000-$619,000 (seven of them waterfront). In 2019, 22 waterfront homes sold, with Monticello Country Realtors selling both the lowest price at $317,500 and the highest price at $785,000.

The waterfront at Lake Monticello consists mostly of full-time residents, but Wilson knows that many started by buying a second home. “Quite a few buyers become acquainted with Lake Monticello by visiting friends or family and fall in love with the lake. They end up buying a second home here to use on weekends. Eventually it gets harder to leave and some decide to retire early or work remotely using our high-speed internet so they can stay.”

Compared to other places, “prices and tax rates at Lake Monticello are low, bringing many buyers here for value and investments.” Vacation rentals are not

FEATURE

Smith Mountain Lake has more than 500 miles of shoreline so there are lots of options for choosing just the right site.

Sunrise over the water? No problem.

Sunset? Got it.

Buyers that want to be close to shops, restaurants and more developed areas, like Westlake Corner, congregate in Franklin County on the north and west side of the lake. From there, Roanoke is just a 30-minute drive.

Year-round residents at Smith Mountain Lake account for about 30 percent of the population. The rest are investors and owners that rent out their home for much of the year and enjoy it themselves part-time. Baran says, “There are a significant number of people who live here from April to Thanksgiving, and then head south for the winter months.

Many head to places like Charleston, South Carolina; just far enough to take the chill out of the air. And to meet the investment tax requirements to be out of the home for 6 months and 1 day.”

The attraction to vacationers includes all the typical water and boating activities. A 40-mile navigable stretch from tip to tip hosts every kind of water vessel from wake boards and stand-up paddle boards, to speed boats and pontoons.

Three hours north of Raleigh and four hours from D.C., Smith Mountain Lake is less fancy resort and more small-town atmosphere. As is true with most great vacation spots, many buyers start out renting a vacation home here and then end up buying.

Lake Anna

11 APRIL 1 - APRIL 7, 2020 ISSUE 2913

Buyers come from Charlottesville, Northern Virginia, Washington, and the mid-Atlantic states. But it’s not unusual to see buyers from California or even international clients.

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332 COPPER HILL DRIVE 820 COLE STREET 24 XEBEC ROAD 627 FOX HOLLOW LANE Downtown! Enjoy this wonderful floorplan, for entertaining Hardwoods onStroll main floor. rare find in the views! sought afterOpen Mill Creek down the Gourmet sidewalks of kitchen Belvedere &Aloft Best dealperfect at Lake Monticello!

Large kitchen Luxurious living in peace of the country with South neighborhood.

This 3 bedroom to your new home! Open floor plan with tons of counter & cabinet space opens easy commute to C’ville! Pearl Silver Certiacre with beautiful mature trees. withFLOOR private patio.with $365,000 pen to LR. Outside $410,000 home includes a FIRST MASTER. spacious patio. living room & gourmet kitchen to the living room to allow you to socialize fied for Energy Efficiency. Custom designed with granite countertops, SS appliances,

Additional two large bedrooms upstairs

while cooking.Formal dining room provides

home. First floormaster is huge with spa-like en suite bath, multiple large closets, & private ! fice off living room & mud/craft/playroom office, den, or playroom. The big deck over- screened porch to enjoy your ct a tr n 6 dayscoffee. o C Price Dro Spacious kitchen with plenty t inmorning r e d Un of cabinet & looks the backyard for the perfect outside en- Great room ontracceiling Under off kitchen. Go upstairs to the large mashasCvaulted & opens to counter space. Separate dining room, Liv- tertaining space or sit on your covered front gourmet kitchen made for a home chef with ter suite with private balcony. Enjoy alone ing room has real wood floors plus wood porch to wave to the neighbors as they walk Wolfe & Sub Zero appliances. Formal dining, time on your private balcony off master. burning fireplace. Enjoy the LARGE DECK by on the way to Beach 4. The upstairs has a home office, & laundry completes main level.

Two additional rooms, full bath, & laundry overlooking the woods behind the house. large master bedroom with ensuite bath. Two Upstairs has two large bedrooms, bonus room completes upstairs. Basement offers you FENCED YARD perfect for a dog to play. A more bedrooms and full bath complete the & theater room. Basement has a guest suite, an additional family room, full bath, & rec home like this is rare, so call to see it now! upstairs. There is also a staircase leading to gigantic recreational/family room, fitness room that has been used as a guest room Sunday 1-3convenient pm MLS# 601008 $345,000 MLS# 600154 $435,000 your walk-up attic providing super room, & tons of storage. Outside entertaining storage space.This house a total gem that Dr is is unmatched with yourcovered 2808isMagnolia 2142 Avinity Loop 1544 Sawgrass Ct 2357 Middle Riverfront Rdporch, Peacenew & tranquility lessMLS# than 15 598998 minutes from Beautifully upgraded 4 BR townhouse w/mountain waiting to be your home. huge Come backenjoy deck, great & your Complete 1st floor living, lg MBR & BA w/laundry. the peace andyard tranquility of yourbeautiful own views! Open floorplan, perfect for entertaining Hardwoods on main floor. Gourmet kitchen & loft lake front retreat!

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CAAR REAL ESTATE WEEKLY WWW.CAAR.COM

onment.

Experience the ease of access to the As if the location wasn't enough, the luxurious best dining, andviews entertainment, condos shopping, offer unsurpassed of the Blue Ridge Mountains andfootsteps Downtown Charlottesville with floor to you will find just away.

APRIL 1 - APRIL 7, 2020 ISSUE 2913

14

EAN FAULCONER INC. MCLFarm, Estate and Residential Brokers Farm, Estate and Residential Brokers 503 Faulconer Drive ∙ Charlottesville ∙ VA ∙ 22903

PIPERFIFE COURT

Fabulous brick home in Glenmore. Unique screen porch has skylights and vaulted ceilings. Lovingly maintained and updated.

Bright, inviting rooms. First floor master suite. 2 suites and a family room on the second floor. Terrace level features; a family room, bedroom, bath, hobby/media room as well as a large unfinished area. Beautiful yard. $575,000

MALLARD LAKE DRIVE

Waterfront, contemporary home, set on 11 acres. First floor master suite. Beautiful stone fireplace and vaulted ceilings.

Wonderfully updated kitchen. Wine cellar and tasting room.

Expansive deck and terraces as well as an over-sized garage. Full terrace level. Privacy, peace and tranquility. $649,000

CALL SHARON

Over 25 years of Real Estate experience. email: callsharon.today@yahoo.com cell: 434.981.7200 WWW.MCLEANFAULCONER.COM

Annie Gould Gallery

TRF

AUCTIONS

Torrence, Read, & Forehand

Licensed Auctioneers & Realtors® specializing in

Land Farms Commercial Residential

434-847-7741 TRFAuctions .com CAAR REAL ESTATE WEEKLY WWW.CAAR.COM

VAAF501

A unique art gallery located in the heart of Historic Downtown Gordonsville.

Offering an assortment of works by local artists as well as those from throughout the country.

109 S. Main Street, Gordonsville, VA• Gordonsville • (540) 832-6352 anniegouldgallery

CALL US TO GET YOUR PROPERTY HERE!

15

26 Farmhouse Inspired Homes Across from Crozet Park

Tour our Newest Model Homes and Old Trail Village Tour Tour our our Newest Newest Model Model Homes Homes inin Belvedere inBelvedere Belvedere and and Old Old Trail Trail Village Village

APRIL 1 - APRIL 7, 2020 ISSUE 2913

Introducing Park Lane from the Upper $400’s

Currituck Model in Belvedere | 905 Belvedere Blvd, Charlottesville, 22901 Currituck Currituck Model Model in Belvedere in Belvedere | 905 |Belvedere 905 Belvedere Blvd, Charlottesville, Charlottesville, VAVA 22901 VA 22901 Tour our New Model Home In Westlake at Blvd, Foothill Crossing Villa Model in Old Trail Village | 406 Astel Crozet, 22932 Villa Model Villa Model in Old inTrail Old Village Trail Village | 406 |Astel 406 Astel St, St, Crozet, St, Crozet, VAVA 22932 VA 22932

OPEN DAILY 12-5 | 434- 218-2352 | Parklane@craigbuilders.com | craigbuilders.com/modelhomes MODEL HOMES OPEN DAILY | 434-973-3362 | craigbuilders.com MODEL MODEL HOMES HOMES OPEN OPEN DAILY DAILY 12-512-5 | 12-5 434-973-3362 | 434-973-3362 | craigbuilders.com | craigbuilders.com

Stoney Creek

COMMERCIAL PROPERTY FOR SALE DOWNTOWN CHARLOTTESVILLE

9 Lakeside Cottage Overlooking Lake Monocan

1100 Block of East Market Street & 11th Street Residential buildings and currently rented! $1,100,000

and the mountains beyond, this maintenance-free townhome in the heart of Stoney Creek is a perfect permanent home, vacation home or rental/ investment property. The open floor plan includes a spacious great room, dining/kitchen, den and guest bedroom on the main floor. Upstairs is a large master suite with views. $314,950

ROLAND PITTMAN REALTY

434-979-3411 • apitt72803@aol.com

118 Stoney Creek West Enjoy the park-like setting of this private parcel with modern home featuring columns on double stacked porches. Ideal outdoor living with 1200 square feet of covered porches or decks. Interior has one-level living with first floor master suite and room for family or friends with upstairs guest rooms or terracelevel in-law suite with family/rec room and kitchenette.

Hardiplank siding, 2x6 construction, renovated kitchen, Cherry floors, gas fireplace, optional 4th BR/office/den, oversized garage, workshop/storage, paved drive, seasonal mountain views, fiber internet; 70k in recent improvements. 30 minutes to Charlottesville. $449,000

on nearly 4 acres located in the foothills of Stoney Creek.

Open floor plan offering a great room with stone fireplace, spacious kitchen with breakfast nook, master suite with deck access, and a study/library. Terrace level boasts a family/game room, two additional bedrooms/ baths, and a large bonus room that is perfect for exercise equipment.

Attached two car garage and an oversized laundry. Multilevel decks for entertaining. A delightful stream meanders through the property. The planted gardens glow when in bloom. A true gardener's paradise. $549,000

(434) 361-2440 www.MountainAreaRealty.com 2788 Rockfish Valley Highway • Nellysford, VA 22958

FINE PROPERTIES VOLUME 26 ISSUE 1

A Publication of The Charlottesville Area Association of REALTORS®

www.caar.com

Aspian Lawn Farm

Idyllic country property with an updated historic c. 1750’s home in Albemarle County.

Stunning water and mountain views, on 183 acres with an 11 acre lake, only 16 miles from downtown Charlottesville.

For more information, see page 36

ANN HAY HARDY Associate Broker

202.297.0228 • ahhardy@frankhardy

Newest Spring Issue ON STANDS NOW!

CAAR REAL ESTATE WEEKLY WWW.CAAR.COM

423 Foothills Drive Handsome, well-maintained home

P.O. Box 3 Ruckersville VA 22968

APRIL 1 - APRIL 7, 2020 ISSUE 2913

16

I first became a believer in reverse mortgages almost 20 years ago...

(before I was in the industry) when my parents first considered doing a reverse mortgage themselves. My Mom asked me to help her do some research and that’s what started me on my path of wanting to eventually be the expert on the subject.

It’s amazing to me today that I still hear the same false rumors from people sometimes that I heard two decades ago. The mortgage company does not take title to your home and yes the heirs still inherit the home upon the borrower’s passing. Those are the two most misunderstood topics. And yes the money you receive is not income so it is not taxed as some people think. Also, Medicare and Social Security are not effected by the proceeds that you receive from a reverse mortgage. And yes it’s true that you are not required to ever make a payment for as long as you live in the home.

I am very patient when I speak to clients and take my time explaining everything face to face with absolutely no pressure to move forward because I remember how much my parents appreciated it when the person that they worked with showed them the same respect.

I have never experienced the Sunday night blues of knowing that you are going back to work the next day as some people talk about. My job is a career that I never plan on retiring from because I genuinely enjoy working with my clients and seeing how their lives are benefitting from eliminating debt and by opening up a line of credit that can be used to help them for the rest of their lives.

Every client’s story is a little bit different but they are all hoping to achieve a better life and I enjoy being a small part in that story.

Reverse Mortgages for Senior Citizens Contact John for a no pressure meeting.

CAAR REAL ESTATE WEEKLY WWW.CAAR.COM

A Reverse Mortgage can significantly increase your quality of life in retirement years by eliminating debt and providing funds to keep up with the cost of living.

Please feel free to contact me to discuss anytime or schedule to meet in my office or in the privacy of your home. All meetings are absolutely no-obligation and confidential.

JOHN O’CONNOR

434-249-2222

joconnor@MonticelloReverseMortgage.com • 434-249-2222 or Toll-Free: 866-201-4897 29 Stoneridge Drive, #207, Waynesboro NMLSID\372644 MLO\8039VA • Virginia State Corporation Commission MC-2457 (nmlsconsumeraccess.org)

Mortgage Rates? far from their current position.

Phil Denfeld, Executive Vice President of Corporate Operations for First Heritage Mortgage, is one of those that feels confident that the mortgage rate in the near term will stay close to where it is now. “It’s not going to go way up, but it’s probably not going to go way down, either.”

“We are definitely in uncharted territory. The swings we saw in the bond markets are unprecedented. We used to see swings of maybe 20 basis points. In mid-March, we saw swings of 300 basis points. In a single day.” Unprecedented.

“So many factors go into a mortgage rate. And the lenders have been inundated with a high volume of loan requests due to a very active real estate market.

Everyone is struggling to keep up. That, too, affects the rate. Once things calm down, even if it’s us getting used to a new normal, the mortgage rate will be able to react to the measures that the Federal Reserve has taken. And we may see the rate you pay come down a bit.”

Doug Adamson agrees. An economist and Senior Loan Officer and Certified Mortgage Planner with Fulton Mortgage Company, Adamson is concerned about the general economy but optimistic about the future of mortgage rates.

“Three major factors brought us to

THE

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MARKETING SERVICES

Beth Wood beth@caarrew.com • 434.817.9330

EDITORIAL COORDINATOR

Celeste Smucker • editor@caarrew.com

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Tracy Federico • designer@c-ville.com Lorena Perez • designer2@c-ville.com

The REAL ESTATE WEEKLY is published weekly by the CAAR Real Estate Weekly, Inc., a wholly owned subsidiary of the Charlottesville Area Association of RealtoRs®, Inc. Copyright All rights reserved. Reproduction in whole or in part without permission of the publisher is strictly prohibited.

All advertising published in the REAL ESTATE WEEKLY is believed to be truthful and accurate. No advertising will be published in the Real Estate Weekly if it is known to be inaccurate or untruthful, but this publication does not warrant, nor is it liable for, the accuracy or truthfulness of the advertising placed within this publication. Neither the CAAR Real Estate Weekly, Inc., nor its corporate parent, the Charlottesville Area Association of RealtoRs®, Inc., assume any responsibility and shall have no liability whatsoever for errors, including without limitation, typographical errors or omissions in the REAL ESTATE WEEKLY. Any reference made to the CAAR Real Estate Weekly, Inc. or the Charlottesville Area Association of RealtoRs®, Inc. is not to be construed as making any representation, warranty, or guarantee by the corporations concerning the information on properties advertised in the REAL ESTATE WEEKLY. The content of all ads contained herein are solely the responsibility of the advertiser. The opinions and statements contained in advertising or elsewhere in this publication are those of the authors of such opinions and are not necessarily those of the CAAR Real Estate Weekly, Inc., or the Charlottesville Area Association of RealtoRs®. the CAAR Real Estate Weekly, Inc. reserves the right to edit or refuse any advertising it deems inappropriate or misleading. No advertising will be published in the Real Estate Weekly if it is known to be inaccurate or untruthful. Every effort has been made to assure accuracy, but this publication does not warrant, nor is it liable for the advertising placed within this publication. This publication will not accept advertising that refers to or attempts to establish fees or rates of commissions charged for services rendered.

Information on advertising placement may be obtained by calling 434-817-9330.

“I don’t see a point where we won’t have a mortgage rate that starts with a four or even a three.”

All real estate advertised herein is subject to the Federal Fair Housing Act, which makes it illegal to advertise “any preference, limitation, or discrimination because of race, color, religion, sex, handicap, familial status, or national origin, or intention to make any such preference, limitation, or discrimination.” Virginia Fair Housing Law also makes it illegal to discriminate because of elderliness (age 55 and over).

We will not knowingly accept any advertising for real estate which is in violation of the law. All persons are hereby informed that all dwellings advertised are available on an equal opportunity basis.

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nprecedented. How many times have you heard that word in the past four weeks? If you work in the mortgage business, you have been the one saying it. Every day.

Things were pretty settled before the Federal Reserve made its emergency moves. Jay Domenic, Branch Manager with Movement Mortgage, was comfortable making a prediction about mortgage rates in the short-term. “And now it’s so hard. We blinked our eyes and the market totally shifted.”

Domenic has never seen mortgage pricing change so rapidly. “Mortgage brokers used to be able to say, ‘Today’s mortgage rate is….’ Now we say, ‘The rate at this moment is…’ But people need to remember that an interest rate anywhere below 5 percent is a really good one.”

Knowing where rates have been helps put the slight uptick that we experienced last month into perspective. When the housing crisis hit in 2008, the average annual 30-year fixed rate was 6.23 percent, according to annual Bankrate data.

That mortgage rate hit its historic low of 3.52 percent in July 2016. But that feels like nothing when compared to 18 percent in 1981.

There seems to be consensus among the pros that mortgage rates won’t stray

Carla Huckabee writes about healthy communities and high performing real estate. She paid 14 percent interest on her first house in 1984.

HOME FINANCE

U

BY CARLA HUCKABEE

drain on the economy. That will keep 17 interest rates low. I don’t see a point where we won’t have a mortgage rate that starts with a four or even a three.”

How this all influences the housing market is yet to be determined. In late February, Dr. Robert Dietz, Chief Economist for the National Association of Home Builders, came to Charlottesville to provide an overview of the real estate market. He presented mostly positive data. With mortgage rates and unemployment rates both under four percent, and consumer confidence riding high, the outlook was encouraging.

Will COVID-19 change this? Most experts expect mortgage rates to stay around or below four percent for the foreseeable future. The unknown is how it impacts the broader economy. If potential buyers are less sure about the future of their jobs and concerned about what just happened to their 401k accounts, that may dampen some of the current enthusiasm in the real estate market.

Alternatively, if people leave the stock market because of the volatility, they may be ready to invest that money in real estate by upgrading to a new home or buying a second home. That will help the real estate market.

However this plays out, the word from those closest to the mortgage market is that mortgage rates are likely to be just fine for the remainder of 2020.

APRIL 1 - APRIL 7, 2020 ISSUE 2913

What’s Happening to

where we are now. The Federal Reserve’s emergency reduction in the federal funds rate in March spooked the stock market and initiated a broad sell-off. Unfortunately, mortgage rates and the federal funds rate don’t move in tandem; it’s more like a seesaw. When the federal funds rate goes down, mortgage rates go up, which is exactly what we saw in mid-March.”

“Then the Fed committed to buying mortgage backed securities, which does directly impact the mortgage rate. When that happened, we saw a three-fourths percent improvement in one day. That is the single greatest daily improvement in my 26 years in the business. It was unprecedented.”

“And finally, as most of the speculators leave the stock market due to uncertainty over Federal actions and the coronavirus, the distortions and swings will be much smaller. That should bring us all some stability.”

Adamson has good reason to be optimistic about where mortgage rates are headed, but perhaps less optimistic about the economy in general. The reality is, as the economy contracts, mortgage rates generally fall. Either way, he expects any movements to be less dramatic than they were in March.

“Based on the impacts of COVID-19 and how it might affect employment and businesses, for the remainder of 2020 I anticipate mortgage rates in the low fours or below.”

Domenic agrees. “As long as public gatherings continue to be limited and businesses are closed, this will be a severe

434.977.4005 lwoodriff@loringwoodriff.com

401 Park Street Charlottesville, VA 22902 FAMILY COMPOUND POTENTIAL IN THE COUNTRY

AdAven FArm $2,995,000 141 acres & multiple dwellings set privately in the rolling hills of Somerset, adjacent to Keswick Hunt territory, w/ mountain & pastoral views. Main house constructed ‘06 of finest new, reclaimed materials, & enhanced by 2 bed, 2 bath guest house (converted bank barn w/ stunning results), vaulted guest/in-law quarters, saltwater pool w/ pool house, center-aisle barn, regulation dressage arena, & multiple paddocks. Every inch turn-key. About half of Adaven is in open, rolling paddocks & hay fields, half in massive hardwoods that run up to the last peak in the SW range. MLS# 601142

EPIC VIEWS ON 22 ACRES IN IV Y - REDUCED

121 BLOOMFIELD ROAD • $1,995,000 Sited on 21 acres to enjoy stunning mountain views, this distinguished brick home in the Western school district features 11 ft ceilings & natural light from French doors & floor-to-ceiling windows. Adj. acreage protected by conservation easements. 3-car garage, herringbone brick rear terrace & screened porch, 3 fireplaces. MLS# 587603

DARLING BUNGALOW - WALK TO DOWNTOWN

CON V ENIENT & A MENIT Y RICH CONDO

MAGNIFICENT DOWNTOWN BROWNSTONE

1310 CHESAPEAKE STREET • $275,000 One level living, walkability, & Ting gigabit internet make this home perfect. Freshly painted cedar siding, fully renovated kitchen w/ stainless appliances & granite counters, & original hardwood floors. Level back yard leads to small creek. Under 2 miles to UVA hospital. Sydney Robertson (434) 284-0694. MLS# 601654

1035 WEYBRIDGE COURT #301 • $165,000 Walk to numerous retail options in Pantops & just a short ride to both hospitals, UVA, I-64, & Downtown. Move right in to this 1 bed, 1 bath condo w/ brand new carpet & enjoy Carriage Hill amenities incl’ pool, jetted hot tub, tennis & bball courts, play areas, clubhouse, exercise room, sauna, dog park & more. Lisa Lyons (434) 987-1767. MLS# 601571

1065 E WATER STREET • $1,795,000 Architectural Digest worthy detached brownstone w/ fenced yard, 2 porches, rooftop terrace w/ gas fireplace & 360° Downtown & mountain views. Gourmet kitchen, wide plank hardwood floors, designer tiled baths w/ heated floors, solar panels, 2-car garage, residential elevator & many more exceptional details. Lindsay Milby (434) 962-9148. MLS# 599887

CHAR MING OLD TR AIL HOME

10 ACRES IN MERIWETHER LEWIS DISTRICT

CLASSIC IVY COLONIAL IN HOLKHAM

1070 KILLDEER LANE • $495,000 This home delights at every turn; thoughtful details like rounded drywall corners, windows in every spot imaginable, Blue Ridge views from Deck (off Master BR), raised hearth Gas Fireplc + wonderful floor plan if you’re looking for indoor & outdoor spaces on multiple levels. Tommy Brannock (434) 981-1486. MLS# 599789

2530 LAKE ALBEMARLE ROAD • $989,000 Unique opportunity on private lot surrounded by mature hardwoods.

Custom additions & gorgeous workmanship on extensive built-ins & cabinetry. 5 beds, 5.5 baths & add’l 1250 sf terrace level. Outdoor oasis w/ huge front & rear yards, bball court, terraced garden beds, gazebo, 2 sheds, screened porch & rear patio. Erin Garcia (434) 981-7245. MLS# 598800

1255 HEROLD CIRCLE • $589,900 Light-filled 4BR, 3.5BA home updated w/ solid oak hardwood floors throughout 1st & 2nd levels, ceramic tile in baths & kitchen re-freshed w/ painted cabinets, new counters & SS appliances. Covered front porch & new rear deck. In neighborhood w/ green space, trails, creeks, & mins to Western Schools. Kristin Streed (434) 409-5619. MLS# 599445

MOV E-IN R EADY IN COUNTRY MEADOWS

80 PIN OAK COURT • $315,000 Located on a quiet cul-de-sac, this 3 bed, 2.5 bath bright & airy home features open floor plan, gas fireplace, & gleaming hardwood floors on main level. Unfin. 1,020 sf walk-out basement w/ plumbing rough-in. Peaceful .57 acre setting w/ covered back porch & backyard stream. Beth Monaco (434) 242-0798. MLS# 599774

390 BroAd Axe roAd $1,550,000

JAMES TULEY DESIGNED MASTERPIECE IN IVY

Renowned architect James Tuley’s masterpiece brings nature & Blue Ridge views into every room. Highest quality touches include copper roof, mahogany doors, huge Marvin windows, custom woodwork & hardware, Alberene Soapstone, Blue Stone, soaring ceilings, 20’ stacked rock fireplace, radiant tile & wide plank oak floors. Situated on 14.3 acres & surrounded trails, year round stream & abundant wildlife. Master bath incl’ huge shower w/ glass wall, soaking tub & extensive mahogany shelves. Heated pool! Lindsay Milby (434) 962-9148 or Marcela Foshay (540) 314-6550. MLS# 601763

WWW.LORINGWOODRIFF.COM