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Update on Housing Supply - June 2008 |
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This is an illustration of the relationship between our market's supply and demand in four price ranges. The numbers (7, 11, 14, 26) represent the months of supply of properties currently available based on average demand per month during the past twelve months. 
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Do you think the couch would fit over there?? |
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 One of the fun tools that I use as I work with buyers is my laser measuring device. This handy device uses a laser beam to measures the distance across a room --- with a click of a button we can measure from wall-to-wall up to 50'.I always keep it in my car, and bring it into most houses that I am showing buyers. Some of my clients aren't too concerned with the specific dimensions of the rooms in the house --- but for those who are, we can quickly capture the dimensions of each room as we tour the house. It even gets a bit more fun, as many of my clients have become quite accurate with their guesses of the room dimensions --- as we look at houses, they refine their visual measuring skills by trying to be as accurate as my laser measurer! Are you up for the challenge? | |
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Notice to Purchasers... due diligence... sexual offenders... |
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 As I work with buyers to prepare contracts to purchase, we spend some time reviewing the 30 paragraphs of the standard Virginia purchase contract. If you will be buying a home in the next year, it is o.k. to wait to review the majority of the contract until the time at which we are ready to submit an offer --- except, perhaps, paragraph 23. Paragraph 23 of Virginia's standard purchase contract states: "NOTICE TO PURCHASER(S): Purchaser should exercise whatever due diligence Purchaser deems necessary with respect to information on sexual offenders registered under Chapter 23 (sec19.2-987 et seq.) of Title 19. Such information may be obtained by contacting your local police department or the Department of State Police, Central Records Exchange at (804) 674-2000 or www.vsp.state.va.us." If you wait to review that paragraph until we are getting ready to sign an offer to purchase, you don't leave yourself much time to conduct any due diligence, because this paragraph does not say: "and if, after the contract is signed, you find out that sexual offenders live in the house next door to the one you are purchasing, you are welcome to change your mind about buying the house." If it is important to you to buy a home in an area where there are not a high number of sexual offenders (currently) living, you ought to do your research before we start looking at homes for sale. The good news is that the Virginia State Police web site is a fantastic resource for learning about sexual offenders in our community. You can search by zip code, county, city, name, or map. And once you get to the search results you can view the names, addresses, crimes and photos of registered sex offenders. You will also find some great frequently asked questions on the VSP site. If you haven't already figured it out, the image at the top of this post is the map search result for Harrisonburg --- each red balloon shows the home address of a registered sex offender. Again -- if it is important to you to buy a home in an area where there are not a high number of sexual offenders (currently) living, you ought to do your research before we start looking at homes for sale. | |
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Is there a price at which you would buy this home? |
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Back in February '08, I wrote about buyer and seller perspectives on our real estate market, and pointed out that many buyers are bashful right now. They will look at quite a few houses, and find one or two that they like, or really like, or can't live without --------- and then, they will decide not to make an offer on the property. Why, you might ask, would a buyer decide not to make an offer on a house they want to purchase? Most often, it is because they think the asking price is too high, they aren't sure whether they will be able to negotiate it down, and thus they don't want to anger the seller or embarrass themselves by making too low of an offer. I'm here to tell you --- make the offer! I have seen several offers work out very well for buyers over the past few months --- because the buyers stepped up to the plate and made an offer that they thought was reasonable for the house in question. As we are evaluating properties, if a buyer seems to really like a house, but doesn't particularly care for the price, I ask the question... is there a price at which you would buy this home? If there is, let's make an offer and see where we can go from there! | |
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Urban Exchange - Done Digging, Now Building UP! |
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After MANY weeks of digging down (down, down, down), the foundation for Urban Exchange is finally coming up out of the ground!  For those of you who are not familiar with the project, Urban Exchange is a new construction project in downtown Harrisonburg to feature condos, apartments and retail space. Check out more photos of the construction process here! | |
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Scott Rogers
Funkhouser Real
Estate Group
540-578-0102
scott@funkhousergroup.com
Licensed in the
Commonwealth of Virginia
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