Twentyten

by John Ince, President Charlottesville Country Properties, LTD

I love the ring of it. The aughts were awkward, hard to pronounce, no rhythm. It makes sense. We were just getting our legs under us in the new millennium and now we’re up and running. This whole decade will sound good and move fast.

There were a few good things that happened in ’09 like Sully’s heroic landing on the Hudson, and no one could say that Taylor Swift didn’t have a great year. Mostly though, we were licking our wounds, looking up to see if the sky was falling, and in my case waiting for that ball to fall in Times Square way before New Year’s Eve.

I’ve learned my lesson about over-anticipation, but this time I think I’m right on. Phones are ringing, contracts are being written. I had a client miss out on a property because multiple contracts came in on the first day.  Speculators are fighting each other for Mediterranean and Baltic, I saw some new construction on Tennessee Avenue, and even Boardwalk is getting a facelift.  And it’s not Monopoly money this time. Tighter lending requirements are a pain in the rear, but they are making sure new buyers are solid. The new homes going up are custom homes, not specs and the first time home buyers are taking advantage of incentive programs solidifying the critical base of the housing pyramid.

I used to train and sell Egyptian Arabian horses back in the late 70’s and early 80’s. There was a time when a really good mare would sell for hundreds of thousands of dollars. I watched an Arabian mare sell at auction at the Kentucky Horse Park for a world record 2.2 million. She was a nice mare but it made no sense. Today, you could buy a really nice Arabian mare for $20,000. That’s a lot of money, but she’ll take your breath away, and you’ll love her for two or three decades. I just sold a really nice home to some good friends for $430,000. That’s a lot of money, but it’s a great buy, and a great house that they’ll love for two or three decades. It all makes sense again.

Twentyten It sounds good. It feels good. It is good.
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