LIFE is the trump card of our local real estate market!


LIFE is the trump card of our local real estate market!
By Scott Rogers • December 10, 2008
In talking to a client last evening, I was asked why our local real estate market isn't doing as poorly as some others in the region or across the country. Some real estate markets have seen a 30% to 40% decline in home pricing, and we haven't seen that here. After talking for a few minutes about the strength of our local economy, I was then asked whether people are even buying homes right now in the midst of such turbulent economic times in our country. They are, although it is at a slower pace, and we began to contemplate why that might be. My conclusion is that LIFE is the trump card --- it explains why even amidst troubling economic times in our nation, people are buying houses in the Shenandoah Valley. Here are some of the reasons why.... People are moving into the Harrisonburg area with new jobs -- many of them aren't going to rent a house while they wait to see how January's stimulus package will affect the economy -- they are going to buy a house, and they'll buy it now. Babies are being born, and as families grow sometimes a larger house is needed. Many of these families aren't going to stay squeezed in their current home until the stock market goes up -- they are going to buy a new, larger house, and they'll buy it now. Individuals and couples are retiring to the Shenandoah Valley -- many of them aren't going to rent a house because they want to wait and see if the American auto manufacturers will get bailed out -- they are going to buy their retirement home, and they'll buy it now. There are plenty of other reasons why people are buying homes amidst troubling economic times in our nation -- and I am not suggesting that everyone is, or should considering buying a home right now. But for those that wonder what is keeping our local real estate market moving forward without significant price drops, I believe it is simply LIFE. 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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