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UVa's Match Day Expected to Create a Housing Boom

March 13, 2013

With Match Day just days away, future residents at the University of Virginia Medical Center won't be the only ones smiling.

Local real estate agents will be smiling, as well.

For many medical students across the country, Match Day can be the happiest day of the year. It's the day where they learn what hospital they'll spend the next few years as a resident.

"Match Day was quite a day," said Alex Baras, a graduate and former resident at UVa.

Baras bought a condominium during his time at the university. Since 2011, though, he's been renting it out, as he now works at Johns Hopkins in Baltimore.

"I wasn't certain whether it was a good time to sell," Baras said. "I think prices were still dropping, and I felt more comfortable with a safer bet renting above the mortgage."

But now, there's hope. Not only is the local market getting back on track, but Match Day is once again around the corner.

"They grab their Realtor, they go out and they look for a home," said Kelly Lindauer, a Realtor with Better Homes and Gardens Real Estate in Charlottesville. "And so it's just a great flurry. It's a boost in the spring market."

Lindauer is encouraging her clients to get their homes listed by Friday's Match Day.

"The incoming residents don't have a lot of time on their hands," Lindauer said. "They need to get started right away."

"People are going to immediately want to find somewhere because of the timing of how Match Day works," Baras said. "You find out in March, and you're going to have to live there on July 1."

Now, Baras has confidence in putting his Jefferson Park Avenue apartment on the market. It's within walking distance to the medical center, and now is the time to sell.

"People really want to get things moving, so it makes selling homes a little easier," Baras said.

"It's a great spring market, and so the Match Day on top of that is just going to just be a really crazy next couple of weeks," Lindauer said.

Lindauer said good interest rates and inventory makes Charlottesville attractive right now. Add walking distance to the list of must-haves, and she said it will be an easy weekend to buy or sell.

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