The I Love CVille Show With Jerry Miller! - How Will "The DC Escape" Impact CVille Area?; More DC & NOVA Sellers Will Buy In CVille Area

Episode Date: February 17, 2025

The I Love CVille Show headlines: How Will “The DC Escape” Impact CVille Area? More DC & NOVA Sellers Will Buy In CVille Area Waynesboro Real Estate Booming (13.5%+) Champion & Reason Brewing Equip. Auctioned Today $1.6M Of Beer Equipment Sold For Less Than $100K CVille Area Has Most Dominion Outages In Virginia #3 Duke (-14.5) At UVA (Won 4 of 5), 8PM, ESPN UVA Innovators Of The Year On I Love CVille (2/20) Read Viewer & Listener Comments Live On-Air The I Love CVille Show airs live Monday – Friday from 12:30 pm – 1:30 pm on The I Love CVille Network. Watch and listen to The I Love CVille Show on Facebook, Instagram, Twitter, LinkedIn, iTunes, Apple Podcast, YouTube, Spotify, Fountain, Amazon Music, Audible, Rumble and iLoveCVille.com.

Guys, good Monday afternoon. I'm Jerry Miller. Thank you kindly for joining us on the I Love Seville show. It's great to be with you. We're live in downtown Charlottesville on the flagship show, the I Love Seville Network. It's the Monday through Friday, 1230 to 130 show. And in a lot of ways, we've become the water cooler of conversation here for Charlottesville, Albemarle, and Central Virginia. The playbook of business, the playbook of real estate, of brokerage, of venture capital. And today's show embodies those statements. Take a look at the screen for the headlines we're going to discuss. We have a flood of folks in the D.C. area that are listing their homes at levels not seen in DC area history. So much so that listing websites like Zillow and Realtor and Redfin are not able with their

algorithm to clearly break down where all the listings are happening because there's so many of them. So they're just now grouping them by the chunk of 280 or more. And as Elon Musk and Donald Trump work through making, in their words, the government operate more efficiently, there's a lot of folks that operate or make their living on money tied to the government sectors, the various sectors of business and employment in our federal government that are panicking. And they're either panicking by taking buyouts. They're panicking by listing their homes and seeking employment elsewhere. But some of these folks are panicking and listing $800,000, $900,000, $1 million plus homes

and earning buyouts, taking buyouts from their respective employers to the tune of six months, seven months, eight months, nine months of severance pay, and are now having to make a decision, where are we going to continue our lives next? And as you know, if you watch this program, you have common sense. I had an interesting conversation with somebody on my Facebook page last night about this. And the D.C. area is extremely more expensive than Charlottesville. Is the Charlottesville area expensive? Absolutely. Is it as expensive as the D.C. area? No, it is not. Northern Virginia and the D.C. area, considerably more expensive than Charlottesville. So what you're going to see is you're going to see a flood of people after selling their homes, stacks of equity after earning significant gains

during COVID, with six, seven, eight months of severance, looking for somewhere else to live. And a portion of that population is going to head here to an inventory-strapped market that we call Charlottesville, now Morrow County. And I, the source of the source, will break that down for you guys today on the flagship show of the I Love Seville Network. Judah Wickhower is going to offer some perspective. We talked with friends of ours,

colleagues of ours that are operating in this space that are currently positioning their brands and their brokerages to try to capture the demand that's coming down the pipeline. And it's coming quickly. And this type of capture, this type of positioning is going to separate the winners and the losers in this market. And there are few industries that have been radically changed

like we've seen real estate change nationally, statewide, and locally. I want to unpack that on today's program. I want to talk Waynesboro. Assessments have now gone out to Waynesboro residents, and the sticker shock is a pain point for many Waynesboro residents as the average homeowner saw a 13.5% increase in assessments with the bills, the notices that were mailed to their mailboxes this past week. I want to talk

champion brewing, reason brewing. This may be the, the final chapter of the collapse of a once promising, um, empire led by beer Baron Hunter Smith. Um, a name we haven't mentioned recently, um, a name that has been tied to, unfortunately, some over-leverage and some misfortune. And today, $1.6 million, you heard me correctly, $1.6 million of beer equipment was auctioned off for pennies on the dollar. And to put in perspective what pennies on the dollar means, a million six selling for less than $100,000. Ladies and gentlemen, we broker a lot of business deals in our community. And when someone is looking to sell a business,

the time to sell their business is when they have runway left on their lease. The time to sell their business is when their business is performing well, where top line revenue is improving year over year, where cash flow is spewing a number that not only the owner operator can live upon, but can bank some for the rainy day. The time not to sell your business is when your lease is approaching its final stages or when your business is in the brink of collapse or bankruptcy. And when you try to sell a business despite years of financial success, when you try to sell one in the final stages, when you have very little time left on your lease, or when your business has caught some headwinds, what you end up doing is doing a fire sale where you're selling equipment for pennies

on the dollar. And unfortunately, we're seeing that with the collapse of the Champion brand. More details on that story for you today on the I Love Seville show. We'll talk Dominion Electric, the most power and electric outages in the Commonwealth of Virginia, thanks to an intense windstorm yesterday. Most of those outages are in the Charlottesville area. Judah will offer that statistic for us shortly, but Dominion Electric has posted that they have the most outages in all of the Commonwealth right here in our home. I want to unpack that on the I Love Seville show.

We'll talk Virginia basketball, beating the Virginia Tech Hokies over the weekend. Revenge is a dish best served. Is it warm? Is it hot? Revenge? Most people like their revenge cold. I like my revenge in any temperature, frankly. I know. I like mine cold. I like mine hot.

I like mine in present form. I like mine in present form. I like mine in historical form. Regardless, Ron Sanchez's basketball team has won four of its last five ballgames and is clicking on all cylinders. And damn it, they better be. Because the Duke Blue Devils hit the John Paul Jones Arena

tonight for a nationally televised ball game. 8 o'clock tip-off on ESPN with the Dukies a 14.5 point favorite. We'll talk about that today on the program. We want to highlight an interview that we have on Thursday due to Wickhour. They reached out to us. Yes, it is. The University of Virginia Innovators of the Year, a team of three professors who legitimately have earned the Innovators of the Year recognition by Jim Ryan and the University of Virginia. They are going to be in our studio sitting at this

table to talk about their research, their business, and why they are the innovators of the year here on the Water Cooler of Conversation, the Playbook of Success, the I Love Seville Show. Had a fantastic conversation, Judah and I, with John Vermillion and Andrew Vermillion of Charlottesville Sanitary Supply this morning. Love seeing John Vermillion and Andrew Vermillion, clients we call friends. We'll give them some attention on screen due to 60 consecutive years of business, 60 and counting for John and Andrew. As the torch is being passed from the second generation to the third generation, we talk real estate, we talk business, we talk life, we talk Charlottesville. Excited to welcome John Vermillion back onto our program here in the near future.

The exciting things about being the confessional of business, our firm VMV Brands and the Miller organization, is you have an opportunity to get to know clients on a personal level. And it's something that I very much enjoy. Yesterday, for example, I was driving down Ivy Road, and my family and I, my wife and I, are two boys in the Family Explorer, and we were heading to a local restaurant for some food and drink. And as we're heading there, we see one of our clients, Ted Anderson, who's got the fabulous seafood stand on Ivy Road. His tent is blowing down Ivy Road, almost as if it was a sailboat sail caught in the wind on a stretch of roadway where vehicles are whizzing 45 miles an hour or more past Farmington, past the Boar's Head, past the old Virginia oil location where Danny's

upholstery is located, where Ted's seafood stand is. And my wife and I, we looked at each other and we said, is that Ted's tent caught in these 35 mile an hour wind gusts? And I said, well, it sure looks like it. I got on the phone, I pulled out the text message, Judah, you were on that text chain. And I mentioned to Ted, your tent is caught in 35 mile an hour wind gusts. And people are weaving in and around it on Ivy Road, almost playing Frogger. Can you imagine what a tent, if caught on the windshield of a family Ford Explorer would do that's traveling 45 miles an hour. That would be like as if someone was trying to walk along a pool with a cover on top of the pool and fell

in the middle of the pool and got tangled in the water with the tent. Fortunately, that text message reached Ted. He and the family sprinted over to Ivy Road and took care of business, as Anderson's always does. Some of the freshest seafood in the mid-Atlantic, guys. Ted Anderson and his family and multi-generation business. Judah, we'll weave you in first with the studio camera and then a two-shot. I ask you the same question every day. And viewers and listeners, like and share the show. Hit the like button.

Share the show. Comment on the show. Janice like button, share the show, comment on the show. Janice Boyce-Trevillian, thank you for watching. Jessica Lilly, thank you for watching. Spencer Pushard, Keith Smith, Vanessa Parkhill, thank you for watching. Eric Thompson, Brandon Harrop, Kelly Jackson. I got TV stations and newspapers watching us right now. Radio stations, Tom Powell and Scott Thorpe and Jesse Rutherford and elected officials on the show.

The headline that is most intriguing to you and why, Judah Wickauer. We've got a lot of intriguing stuff to talk about today. I think the amount of beer equipment selling for such a pittance is a shame. And you're right, we haven't talked about Hunter Smith. I don't think we've brought him up in probably, what, a year and a half? It's probably been about a year. Summer of 23 when a lot of this went down. Obviously, it's a shame, but somebody's getting some good equipment.

Also, the outages. I can only hope that Dominion does its job fixing these issues quickly because it may not be as bad as some of the recent snowfalls we've had, but I do believe that we are looking at more snow this week. That's the key. Dominion, and give us the number of how many houses are out without power, Commonwealth-wide and the Charlottesville area. This is the key. Can Dominion restore power for the thousands that are without power in the Charlottesville area before the Tuesday night, Wednesday snowfall that's being predicted? Late last week, that prediction had snowfall approaching nearly two feet. Now, depending on

where you get your weather forecast, that snowfall is anywhere from one to six inches. I would love to be in a business where my margin of error is two feet of snowfall to a light dusting. And I've poked at weather forecasters on this program in the past. There's two lines of work where you can legitimately be right 30% of the time and keep your job. You're a Major League Baseball hitter, where if you hit 300, you're in the Baseball Hall of Fame. You're in Canton. And the only other line of work where you can be right 30% of the time and win an Emmy Award is weather forecasting and broadcasting. Any other line of work, if you're producing at a 30% clip, you're on the soup line.

You're at the Haven looking for housing, and you're at one of the many shelters around the downtown mall with your hat in hand looking for some food to eat. The only two positions of work. Dominion. How many that are out Commonwealth-wide? Across Virginia, they've got 14,600 customers. And the Charlottesville area.

And just in the Charlottesville area, these numbers are as of 11 a.m. this morning. Charlottesville had 4,133. So 25% of Dominion customers that are without power are in the Charlottesville area. Think about that. Jason Howard's watching the program on Rio Road. He said, I have never lived anywhere where the power goes out so frequently. Is a whole house generator now a necessity in this market instead of an amenity? I will say this.

The house that my wife and I, our two boys, purchased in Ivy, we bought a house that came with a whole house generator. And when you have a whole house generator, you will never think of life again without a whole house generator. As soon as the power was out on the entire street, the generator kicked in. we did not miss a beat. It is an expense that is costly that will prove dividends many times over, especially for those thousands that if we don't have power restored by the Tuesday or Wednesday night snowfall, when temperatures are predicted to be in the single digits, the risk you have is bursting pipes. No doubt.

That is the risk you have. If the temperature, if the power doesn't get back on. Georgia Gilmer is watching the program. I am still without power and internet, she says. It's 2.45 p.m. since we've been out. It went out yesterday at 2.45 p.m. I live in the Earleysville area.

She has not had power or internet for nearly 24 hours. Georgia Gilmer, our thoughts and prayers are with you. Gary Palmer watching the broadcast. You do not know the value of a whole house generator until you lose power

and you have single digit temperatures and snowfall 36 hours removed from your life. Viewers and listeners like and share the show. Check in with your neighbors if they're out without power. Vanessa Parkhill says a protest is going on today to check out David Toscano's page. Janice Boyce Trevelyan says, we lived in Fairbanks, Alaska in 1984 and never lost power. The wind barely blows here and we lose it all the time.

Yesterday's wind was as significant a windstorm as I've ever seen in the Charlottesville area. Legitimately, I saw the fabulous, locally owned Ted Anderson's tent blowing as if it was a sailboat sail down Ivy road as cars were driving 45 miles an hour playing Frogger with the tent floating down the stretch between Borset Farmington, Charlottesville oil. Finally, it goes on the other side of their stand on Ivy Road, gets caught in some kind of tree canopy, and just dangles there as gusts 30 miles an hour strong

rip through that little portion of roadway as if it was a wind tunnel. Now, a lot I want to cover onto the program. Why don't you put the headlines back on screen, and then Judah Wickhauer, I'm going to weave you in on a two-shot. I got all the local news stations watching us right now on the program. Every single one. The lead of the show has got to be the escape from DC. I shared a, a, a Twitter thread yesterday on the, I love Seville network that you need to see. I retweeted on my Twitter profile. It's on my

personal Facebook page, the, I love Seville Facebook page, the, I love Seville, Instagram, LinkedIn, everywhere. We have some incredibly insane statistics to give to you. I will set the stage first, and then weave you, the viewer and listener in, as we talk the impact this will have on the greater Charlottesville area. Since the Department of Government Efficiency, led by Elon Musk, DOGE, began discussing mass layoffs,

the median home price in the Washington DC area has fallen by $139,000 and 30 days, nearly 4,000 homes have been listed for sale in and around Washington DC in November, 2024. So Judah, this was two months ago, three months ago, November 2024. The median home price in Washington, D.C. was right at $700,000. Now the median home is worth about $560,000, a 20% drop in three months. There are now nearly 8,000 homes for sale in the Washington, D.C. metro area. Nearly half of these homes have been listed for sale for more than 30 days. Since November 2024, nearly 5,000 homes have been listed for sale, well above average. Year-over-year home listings in the Washington DC metro area are up 23%. Parts of Virginia are seeing 60% to 70% jumps in year over year

listings. That's Northern Virginia specifically. The bedroom communities around DC. This is where a guy like Deep Throat has said the softest portion of the softening of real estate is really going to have its impact. It's not going to have, it's going to have a significant impact what Musk and Doge and Trump are doing and DC proper, but the further you get away from DC, the better communities, that's where you really going to see the real estate gets soft. Remember, real estate is all about timing. One of the key elements of winning and losing in real estate is timing. And the folks that could see this coming that got their homes listed on November that had to get out are the

ones that got out at the top dollar. The ones that are listing now are the ones, ladies and gentlemen, that are going to get less than top dollar because there's a glut of inventory on the market. A couple of other statistics for you before I get to how this is going to impact the Charlottesville area. There has been a surge in new listings in Washington, D.C. with a listing price of a million plus dollars. There are now 525 D.C. area homes with 1 million or more asking price, including 44 with 5 million or more asking price. This suggests that high profile jobs are also leaving the DC area. So it's the Isle of Seville show. We're going to ask you this question. How will this impact homes and the Charlottesville impact homes and the Charlottesville

metro area and the Charlottesville area of association footprint? How will this impact realtors that are fighting for scraps right now in an inventory strap market? First, let's talk values and demand. When you are getting bought out from your professional position in D.C., getting six to eight months of severance just to leave your job because Musk and Doge want to make the government more efficient. They're literally offering people six to eight months of pay just to leave. And then you sell your home. Granted, it may not be at top dollar anymore, but a lot of these people had homes they owned before COVID. So they have massive equity in there. These folks are going to have six to eight months of financial runway.

Plus they will have a Scrooge McDuck style bag of money with them after selling their house. And they will basically say, we need a place to live. How many will consider the Charlottesville, Alamaro County, and Central Virginia area? Only time will tell, but I can speak with confidence and conviction that some of them will consider the Charlottesville and Alamaro and Central Virginia area. The University of Virginia graduate, the alumni base in the DC area is extremely significant. And just like we all do when we wax nostalgic of the best four years of our life, university, college, they will say, wow, I have six to eight months of pay. I'm getting some

COBRA health insurance and I got hundreds of thousands of dollars from selling my home. I remember Charlottesville and Elmora County being awesome. I go down for football and basketball games. We go down for wineries and vineyards. We go down for concerts and hiking outside. We go down for the downtown mall and the music experience, all the reasons we live here.

And they're going to come to this area with their bags of money, their eight months of pay, their six months of pay, their Cobra health insurance, and they're going to try to reinvent themselves. And somebody was saying yesterday on my Facebook page that the Charlottesville and Alamaro County area doesn't have much job upside, employment upside. I push back on that immediately. And you know how I'm going to push back on that? On Friday's show, what did we talk about? Life sciences and biotechnology. And on Friday's I Love Seville show, I explained to you, on Friday's showants, one of Glenn Youngkin's lieutenants said that the Charlottesville area, Charlottesville city in 2024 saw nearly $500 million invested, nearly 500 million invested

in biotechnology and life science. Karen Merrick is her name. She's the Virginia Secretary of Commerce and Trade. And she said in 2024 alone, the city of Charlottesville had more than 400 million of federal research grants invested into biotechnology and life science. She also added that more than 90 million in equity investments in startups and biotechnology and life science. If you can parlay professionalism, resume building, tenure, and white-collar jobs from the D.C. area into life science, biotechnology, data science, hedge fund, finance, maybe you're sucking at the teat of the University of Virginia supply chain. And you can do that with six to eight months of professional allowance and runway from a severance package, Cobra health insurance for six to 12 months, and a Scrooge McDuck style sack of money, hundreds of thousands of dollars of gold coins in that sack, for you then to buy a house in the Charlottesville area, the Alamaro County area, the Central Virginia area, the Waynesboro area, where the defense sector accounts for more than $1.3 billion a year in economic vitality, that number from a

white paper commissioned by the Chamber of Commerce and by Alamaro County and the City of Charlottesville, then ladies and gentlemen, you will see a demand of people coming here and if you're a real estate agent and you're not setting your pipeline up to capture this kind of demand then you're reading the tea leaves incorrectly if you're not using social and digital media if you're not positioning your your content currency to capture this influx of people, then you are going to lose. And I'll tell you who the winners are going to be. The winners are going to be first homeowners in our community that already own a house because the value of your respective property is going to pop even more. Mark that down. Mark that down. The other folks who are going to win are the agents that work in the top 15%

of homes brokered value-wise in this market. They're going to win. And there's 10 to 15 that own this category. Absolutely own this category. You know who's going to lose? First-time homebuyers. First-time homebuyers who are already facing interest rate headwinds, who are being priced out of the market.

Now we'll have even more competition. They're going to lose. You know who's going to win? Waynesboro. We're about to tell you that Waynesboro, as you're rotating lower thirds on screen, Waynesboro saw 13.5% pop in assessments year over year. Old guard Waynesboro

is like, what the hell is going on? We don't even recognize the people that are living in Waynesboro right now. You know who the folks that are living in Waynesboro right now? The folks that got pushed out of Charlottesville and Alamaro County in Central Virginia, choosing to make the commute across the mountain. This is a storyline that if you're not following, you're not seeing something of significance, a federal trend, a national trend,

a trend tied to a newly minted and newly elected president and arguably the most powerful person in the world, Elon Musk, making a push to make the government more efficient, which is creating collateral damage that is going to trickle down a pipeline from Northern Virginia to Charlottesville and Central Virginia and further gentrify our region and community,

further influx wealth into our home. Judah Wickauer, I'm going to weave you in with some comments before I get to you, the viewer and listener, and the many comments that are on the feed right now.

Judah Wickauer, you have thousands at your disposal right now. Perspective from you first. I have thousands at my disposal? I like that. I've got a friend who's looking for a place and it's obviously not easy.

And between this and what I think Waynesboro prices rose, assessments rose like 13%. 13.5%. It's a headline with the lower third literally on screen in front of you. Yep. Thank you. I appreciate that. Yeah.

It's going to be the same problem we're having here. It's just like you said, the first-time homebuyer is going to have a very hard time competing with people who have just sold million-dollar homes and have eight, nine months' worth of go-away pay in their back pockets. Tom Powell says, do you really think the folks are going to move here to Charlottesville? Some of them will. Where else are they going to go, Tom? Yeah, not all of them will. We're not saying all of them will.

But any additional influx of buyers to this region and an inventory strapped market, and we're in an inventory strapped market, will have an impact on our region. We already had before, Musk and Trump and Doge were trying to make the government more efficient. Weldon Cooper, the statisticians over there, Hamilton Lombard, they were talking about the potential influx of wealth that was coming to the community. Now you add some kind of behavior change, professional change, two hours from us, and you will see some of those folks come here.

Ruben Morris, welcome to the broadcast. Eric Thompson, welcome to the broadcast. Media that's watching this show, this should be a story in your media publications. Cover this story. six to eight months of severance, healthcare for a year, and a bag of money associated with selling your house. And an opportunity for you to go where you want. Yeah. And they're definitely not all going to be coming to Charlottesville, but some will look for jobs here.

Others may decide that with the windfall they've got, maybe it's time to retire. They're not going to retire in the D.C. area. No, definitely not. Not when they've got better prices just about anywhere else. Because their money's not going to go far enough. No. Though it does seem odd that so many people are...

You would think some might see... I don't know. I know that some people are going to take advantage of this. Well, here's the... You want to know what the reverse engineering play is? Buy. You're going to offer more clarity? Buy where everybody is fearful.

Be bold. Right? The reverse engineering play would be a chance to get something in proper DC that's going to rebound the fastest at a significant discount. Bedroom DC, bedroom neighborhoods and bedroom communities will take longer to rebound. DC proper, you can get something pretty nice at a discount potentially.

Yeah. Especially if your work is tied to hybrid or remote. And that's the next thing that's going to be in the crossfire. Jamie Diamond of J.P. Morgan, he's straight up set in a town hall meeting with all his bankers, with all his employees, tens of thousands of them, you better get your ass to work. And if you don't want to work five days a week in person, you're not going to work for J.P. Morgan. Well, I wonder if his RTO is as much of a you-know-what show as some of the other return to office. Oh, he's straight up firing people. He said if you don't want to return to office, you're not going to work here.

I'm not talking about that, but I'm sure you've heard the stories of return to office where people came back and there are no desks for them, and companies just aren't ready for it. I don't think that's going to pertain to J.P. Morgan and the most influential banker in the world, Jamie Dimon. It's one guy. There's a lot of others out there. I'm not saying that they'll have that issue,

but certainly some businesses have. Trump is pushing people to return to office. Trump is pushing people to return to office. Musk is pushing people to return to office. That's the next trend that's going to have an impact on so many people's lives. So many contractors here locally are tied to employment that's not in the market they live. And now we're being left with this decision. Do I keep our children in Albemarle County public schools? Do I keep our children in the school systems here in Charlottesville and Central Virginia

and then make the two-hour, two-and-a-half-hour, one-way commute each day? Do I get an apartment in D.C. and have my family here and then see my family over the weekends? Do we pull our kids and keep our nucleus together and pull them out of school and then move to D.C. because we have to RTO? Get ready and giddy up for that. This is just the tip of the iceberg, ladies and gentlemen. This is from Deep Throat, his photo on screen. DC will generate inflows,

but UVA may not generate jobs the way it did. My wife was entertaining a candidate for a professorship recently. They were about to make an offer, and then they were told that there was a hiring freeze. I know in her area, almost everybody, being her department, has lost grant funding. That's a point that Eric Thompson has made, that funding is in purgatory right now at the University of Virginia. No doubt. And how is that going to impact the market? That's the point Woody Fincher made on Real Talk a handful of Fridays ago. Time will tell on that. Volatility creates opportunity. Somebody's going to have lots of opportunities

in Northern Virginia. Someone's going to have lots of opportunities here. Lots of opportunities here. I had this conversation. Remember we broke the news about the villas at Southern Ridge, a fractured condo complex down Fifth Street extended. We have a rental property over there. Because of that, we're privy to some of the information. Levy & Co, a company out of Henrico, right outside the Richmond area, bought the holdings of Bart Fry, the developer from Virginia Beach, who tried to convert the villas from an apartment complex into a condo complex. This was in 2007, 2008. Fry Properties could not make the conversion before the market bottomed out.

Then he decided to convert the condos that he was trying to sell into apartments for rent. The apartments that he had for rent, Fry Properties, less than six months ago, we broke that news, sold to Levy & Co., a real estate bank out of Richmond. That real estate bank out of Richmond owns 100 and some condos at the villas at Southern Ridge. They're in now driving significant efficiencies to the villas at Southern Ridge. They found that the pool guy was being overpaid an obscene amount of money. They found that other light items were absolutely amount of money. They found that other line items were absolutely out of control. Now they're offering owners at the Ville's at Southern Ridge

a lowered HOA payment because of the savings that they have done in the first early stage of taking over as owners. They're going to beautify the amenities. They're going to improve the siding, the landscaping, the clubhouse, the pools.

And then they're going to take the apartments that they currently own, that are rentals, and chop them up into five phases where they're going to sell them to people at 2X what they were trading for just a short period ago. Anyone that owns in that condo complex just has to wait till Levy goes through its 100 and some condos that it owns and then it has vast improved value.

This is quite a market we live in. And it's a market that's impacted by its proximity to D.C. and a market that's impacted by one of the top public universities in the world. And the abundance of amenities that we all have. Georgia Gilmer, I hope not, but if the city and county allow the development, the DCers will come. She's right. The DCers have already been coming. They're just going to come by more significance. Vanessa Parkhill, the most highly credentialed and highly paid folks who leave D.C. will flock to university

towns. They will take hugs. They will take positions as adjunct professors, teach one seminar, one class a semester, and then enjoy their lives. Bingo. Bingo. Absolutely right, VP, Queen of Earlysville. All right, next headline, Judah Wickhower. Put the lower third on screen. Which one is it, my friend? Next up, we have Champion and Reason Brewing Equipment. This happened moments ago, minutes ago. Minutes ago, the Champion Brewing Company and the Reason Brewing Company equipment auctioned off $1.6 million in beer equipment, auctioned for less than $100,000.

Ladies and gentlemen, I'll say it again 1.6 million you have two lower thirds you can rotate on screen auction for less than 100 grand this may be the last chapter of the fall and collapse of the Champion brand

and former beer baron Hunter Smith remember Champion purchased Reason, and after purchasing Reason, soon both brands started collapsing due to the over-leveraged nature of the company. Now the equipment is in the hands of a handful of folks, including the savvy and sophisticated team at Pro Renata, who purchased a good chunk of this equipment. I'm going to tell you right now, ladies and gentlemen.

First off, the team at Pro Renata, led by the good Dr. John Shabe, are savvy. They are sophisticated. They understand the concept of deal-making. They understand the concept of being visionaries. They know where spaces are going before the spaces are formed. One of the first beer brands to create the omni-experiential destination, Pro Renata, with what they did with music venue, children's playground, outdoor fire pits, outdoor stages,

a place that we've dubbed the Disney World of Crozet. And look at what's happened. Other beer brands have copied and followed suit. Even locally, other beer brands have copied and followed suit what Pro Renata has done. They say imitation is the finest form of flattery. If that's the case, Pro Renata is drowning in flattery. If you're just tuning into the program, the final chapter of a brand that was maybe the golden child

of beer in Central Virginia, Champion. The equipment, 1.6 million, auctioned for less than 100 grand today. And it's a word of caution for any viewer and listener that's watching this show. We broker a lot of deals, business broker deals, a lot of them. We have one that's closing in a week and change, a very noteworthy brand. The brands and businesses that get top dollar

are the brands and businesses that understand the concept of timing and when to exit. If you're renting your space, you sell when you have lease runway. A lot of lease left. Not when you have short runway. When lot of lease left, not when you have short runway. When you're looking to sell your business, you sell it when your top line revenue year over year

over year is improving or growing, not year over year over year where the trend line is flatter going in the wrong direction. When cash flow is growing year over year over year, when the equipment you own, the assets you own are newish and not oldish and crumbling. So many come to us and say, we need to sell our business. We have a handful of months left on our lease, less than a year. Our top line number is flat or going in the wrong direction. And cash flow flow we haven't paid ourselves in a little while. We're putting the money back into the business and our assets are old and far from being inspected. In those scenarios, you end up doing an asset sale. And an asset sale is not what you want when you broker a business. You want to sell a brand. You want to sell an experience.

In Champion's case, you don't kick a dying dog. I guess it's a dead dog when it's down. Don't kick any dogs. We love dogs. Dogs are great. The unfortunate thing is the little money that comes from this auction probably goes nowhere near paying creditors and the debt that's owed. Oh, definitely not.

Nowhere near. And it's another case of winners and losers. Just like this DC escape is going to be a case of winners and losers for DC, for Northern Virginia, for Charlottesville and Alamo and Central Virginia. This beer equipment sale is a case of winners and losers. The winners get great equipment for pennies on the dollar. No doubt. Great equipment for pennies on the dollar. And then use that equipment that they bought for pennies on the dollar and they use it to make $100 bills

and mint money. Next headline. Judah Wickauer, what do you got next up is the most dominion outages in virginia jason noble has this comment we don't need charlottesville to be more blue hopefully these dc folks come to their senses before they move down here. That's how it always works, isn't it? I said sarcastically. Bill McChesney says, that beer equipment went for scrap metal prices.

The folks who bought it got it at scrap metal prices, and then they're going to turn it into gold coins and green money. Waynesboro, 13.5%. That's the headline? No. Talking about Dominion outages. We covered that. All right.

25% of folks without power in the Commonwealth of Virginia are in the Charlottesville area. More than 4,000 people in the greater Charlottesville area do not have power from Dominion. It's because Charlottesville is such a sprawling, large city. The key to watch is if can Dominion get power back to these 4,000-plus people before Tuesday night, Wednesday, when temperatures are projected

to be in the teens and when snow hits Tuesday night and Wednesday. Yep. Because it's going to get a lot harder to work after that snow hits. Exactly. And if you're in a home that doesn't have power right now, I would suggest starting to think creatively. Most concerning, you need to start considering your plumbing.

Waynesboro headline on screen, a 13.5% average assessment uptick. This from an article in the Daily Progress. Did you read the article that the homes that saw the largest uptick. This from an article in the Daily Progress. Did you read the article that the homes that saw the largest uptick in assessed value were the starter and entry point houses? It was the small homes that were under 1,000 square feet and then the next level up homes

that were under 1,500 square feet that saw 20 plus percent assessment uptick. You're seeing Waynesboro in the eye of the unaffordable storm tied to Charlottesville and Alamo. And folks are choosing to live in Waynesboro as opposed to making that... Now, they're choosing both, but you're seeing competitive areas to live.

Waynesboro, Fluvanna. Waynesboro actually still has houses for under $200,000. Of course, they've got people rushing to get into affordable homes. And what else does Waynesboro have? Amenities. Restaurants. Businesses. Music. Downtown. borough have amenities okay restaurants businesses yeah music downtown nightlife what does flavana not have businesses nightlife restaurants amenities what does buckingham County not have? No idea. The same. Read the tea leaves.

Why are people choosing to move to Waynesboro that are looking for first-time, second-home, move-up homes? Because Waynesboro, they're basically weighing the scales of justice. I will drive 10 minutes further to the epicenter of employment, Charlottesville, compared to Fluvanna and Buckingham. I mean, heck, Buckingham and Waynesboro are the same trip. Fluvanna's a little bit closer. And they're choosing to because the housing is more affordable and there's stuff to do. There is stuff to do. That's another book of business that I would try to corner if I was a Charlottesville or Alamaro agent. Do a geofence. If I was a Charlottesville or Alamaro agent right now,

or broker, I would be instructing my team members to do some kind of geofence digitally and socially, literally what we do for our clients all the time, to try to get the influx of people coming from D.C. here. And I would do a similar geofence around Waynesboro. Low-hanging fruit. Last headline. Is that UVA? Yeah. We got the innovators of the year from the University of Virginia on Thursday's program. Mark your calendars. Watch the UVA Duke men's basketball game tonight, 8 o'clock tip. The Blue Devils are, is it a 14.5 point favorite, Judah?

Yeah. A 14.5 point favorite, the number three team in the country, 22-3 overall, 14-1 in conference play. UVA, however, is red hot. They've won four of their last five ballgames. Andrew Rohde is a point guard that's playing as good as any point guard in the country. Day Day Ames is attacking the rack and scoring off the dribble and opening the offense up. And how about Anthony Robinson, ladies and gentlemen, against the Virginia Tech Hokies? The redshirt freshman was a man against college players.

Isaac McNeely could miss. And right now, Ron Sanchez looks like he could be saving his job. You beat Duke tonight, it would be the upset that would capture all of America for a 24-hour period of time. And it would push Virginia to 7-8 in conference play. Currently, they're 13-12 overall and 6-8 in ACC play. They're no longer in the bottom of the Atlantic Coast Conference standings. They've secured a spot in the ACC tournament.

This team is as hot as any team in the ACC, except for maybe Duke, Clemson, or Louisville. Ron Sanchez goes from cellar dweller to walking on water. We'll talk about it tomorrow at 10.15 a.m. with Virginia Sports Hall of Famer Jerry Ratcliffe right here on the I Love Seville show, on the I Love Seville network with the Jerry and Jerry show.

Jerry Ratcliffe is about to do his 51st straight ACC basketball tournament. I want to put that in perspective. Tomorrow, the star of the show, Jerry Ratcliffe, he will be going to his 51st straight ACC tournament in a few weeks. Thank you kindly for joining us. For Judah Wickhauer, I'm Jerry Miller. Thank you.