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Charlottesville real estate agent, Toby Beavers, has released a report about condos availability in the Charlottesville area. In the report, Toby Beavers realtor stated “Charlottesville condos have sprung up in every area of Charlottesville since the crash of 2008 and are conveniently priced for every buyer from ultra-chic to ghetto-hip.”
Those wanting to view his blog post may can go here: https://www.tobybeaversrealtor.com/the-great-charlottesville-condo-boom-of-2020/
It has since been found that the value of many of the older condos built between 1976-1999 are devaluing. There was never a condo glut in Charlottesville but recently there are buildings going up on every corner monopolizing as much views of Thomas Jefferson’s home, Monticello, and the nearby Blue Ridge Mountains as could be had.
This can work in the developers favor, as older condo developments deteriorate, nationally-known developers can swoop in and redevelop the community. But with a major price increase as the older developments are located in prime areas of Charlottesville.
“The Charlottesville historic Downtown Mall is probably the prime location these days as it’s all about getting out and walking the town. The 550, North Downtown; Eleven:30; Charlottesville Towers; and Residences at 218 are the newest”.
Out with the old and in with the new, seems to be the new mantra for Charlottesville condo developers as they build for luxury and price. Even in Albemarle County a large amount of luxury condos are being built both for sale and rent (see Old Trail as a prime example).
Toby Beavers realtor said, “While this is great for baby boomers and offers more alternatives then living in a single family home, it also brings problems such as overcrowding, noise, traffic, and the need for more schools.
“Don’t get me wrong,” Beavers stated, “there’s nothing finer than a new Charlottesville luxury condominium with scenic views of our spectacular area in Central Virginia. But there must be appealing condo developments for the poor and middle class. The days of building non-descript, hidden-away apartments is over.”
Toby Beavers has been in real estate for more than 35 years and knows the Charlottesville real estate market very well. Over his illustrious career, Toby Beavers has sold over 100 homes and has only five star review ratings. His past clients speak of him as patient, generous, very professional with unbeatable negotiating skills. Individuals that would like further information about the real estate market in Charlottesville can contact Toby Beavers at 434-327-2999. He can also be reached by email at toby@tobybeaversrealtor.com.
Release ID: 88992674