Daily News Record >> Getting Local With Real Estate


Daily News Record >> Getting Local With Real Estate
By Scott Rogers • March 5, 2008
I applaud Dan Wright (pictured to the right), and the Daily News Record (DNR) for running some local stories on our real estate market, such as today's "Feeling The Ripples" article on foreclosures. In contrast to today's story about our local market, the DNR will often run AP stories --- which are written from a national perspective, and about markets that are usually quite different than the Shenandoah Valley. As a quick aside --- if it's not immediately apparent whether the article is local, check the "dateline" --- the city that precedes the article. And yet, despite my excitement for seeing a local article today, I can't keep from commenting on a few interesting parts of this story . . . The photo is a stock photo of a bank-owned home in Las Vegas. Apparently, even though foreclosures are really on the rise in Harrisonburg and Rockingham County, they hide themselves well, such that they can't be photographed. :) The photo caption seems a bit backwards: "...The nation's housing bust has begun to be felt in the Valley, as well, sending local foreclosure rates higher." The "housing bust" is (partially) being caused by foreclosures --- I'm not sure I see how the housing bust would cause the foreclosures. In the article, William Wood, an economics professor at JMU, states that "Housing prices had risen to a point that a correction was inevitable..." and later, "...the Valley's correction was not as painful [as other parts of the country]." I'm not sure what correction William Wood is referring to, as average sales prices continued to trend upwards in 2007. Again, it is fantastic to see stories in the Daily News Record about our local real estate market, as the national AP stories often paint a very different picture than that which we are experiencing in the Shenandoah Valley. Keep up the good work Dan! Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 24, 2024 (unless otherwise noted).
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