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Bundoran Farm Noted as Bright Spot in Albemarle Real Estate Market in Daily Progress Article
Brian McNeill, Daily Progress, 2/16/2008
Website: www.dailyprogress.com
In a recent Daily Progress article by Brian McNeill on the Charlottesville and Albemarle County real estate market, it was noted that environmentally friendly projects are performing better than average. Below is an excerpt from the article where Bundoran Farm is cited as an example of a such a project.
To access the complete article go to www.dailyprogress.com
"One sector of the real estate market that may be performing better than average in the Charlottesville area, builders said, is environmentally friendly and energy-efficient housing.
Bundoran Farm, a 2,300-acre housing development of up to 108 homes being built in southern Albemarle, is one such example. Roughly 90 percent of the development will be preserved as rural countryside, while many of the homes are expected to incorporate sustainable design elements.
From April to October of last year, seven Bundoran Farm lots had been sold with an average sales price of $706,429. Compared with similarly priced housing developments in Albemarle, Bundoran Farm was outpacing its competitors and accounted for 43 percent of all lots sold within rural subdivisions, said project manager David Hamilton.
"Although there’s a decline for housing overall, that’s not the case for certain markets, such as ours," he said."
Brian McNeill
Daily Progress
February 16, 2008
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