My Charlottesville Deal Of The Week |
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This house has lots of potential, especially if you’re ready to do some re-arranging—move a wall here, update the kitchen there. The home was built in 1965, and it still has a lot of that 1965 charm. But with a new layout, a trusted contractor, and a vision, this house could become the nicest one on the block and potentially fetch upwards of $750,000. I toured the home last week, and guess what? The carpet is covering up the original wood floors! Who does that?! If you don’t believe me, just look at the home that sold for $775,000 in August. It was built in 1977 and, yes, it has more square footage and acreage, but it was still dated on the inside. 502 Carrsbrook is perfect for someone who understands the value of a little updating to maximize its potential. 502 Carrsbrook Dr. Charlottesville, VA 4 Bedroom – 3 Bathroom 6 Days on Market | $550,000 Listed by Avenue Realty, LLC
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What I’m Reading |
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The Millionaire Fastlane & The Education of Millionaires I love reading... sorry, I mean I love listening to audiobooks in my car. You guys thought I actually read physical books? These two audiobooks are controversial for some. They go against the traditional mantra of “Go to school, get good grades, go to college, get an entry-level position, work hard, get promoted, invest in a 401k, and then retire a millionaire.” Let me ask you something: why do we have to wait to become millionaires? The first book, The Millionaire Fastlane, tackles this question. The second book, The Education of Millionaires, focuses a lot on higher education and how, before the internet, higher ed was a necessity to grow in both education and career. The book highlights the self-taught generation that’s rising through the ranks and discusses the harm that student loans can cause when taken in hopes of securing a well-paying job after college. I highly recommend both books! |
| The Millionaire Fastlane |
| The Education of Millionaires |
What the Local Market is Doing |
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Not much has changed from last week to this week, but the main thing we should be focusing on for the remainder of the year is interest rates. If we can achieve stable interest rates in the 5.75% to 6.25% range, we could see steady growth in real estate and a return to a healthy market. I mention this because, in the last 16 weeks, we’ve had 12 positive weeks in mortgage application data. Those 12 weeks? They were the weeks when interest rates were lower. Most consumers are waiting for rates to drop to the low 6s or high 5s. That’s what we need and what I hope we’ll see by January. Homes Listed This Week – 44 | Last Week – 43 Median Sold Price – $580,000 | Last Week – $585,0002.87 Months of Inventory | Last week it was 2.88 Months Today’s rate – 6.62% with a 30 Yr. fixed conventional mortgage – Last Week 6.62% |
Local Spot I’m Excited About |
| Blue Moon Diner – Closing Nov 27th Blue Moon Diner on West Main Street is closing its doors after 18 years. I personally can’t say “GO! Try IT!” because I’ve never been. I always think that businesses will always be there, but sadly, they can’t. You better believe I’ll be taking the family to the Blue Moon Diner to try it before it closes for good. |
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My Final Thoughts |
| Whether you’re updating a 1960s home to unlock its hidden potential or challenging the traditional path to financial success, one thing is clear: sometimes stepping outside the norm can lead to incredible rewards. Whether it’s investing in yourself with audiobooks that push you to think differently or envisioning a home transformation, the key is seeing beyond what’s in front of you. With the right mindset and a willingness to take action, you can create something remarkable. |
