I heard (insert this, that or the other) about foreclosures. Is that going to affect us here in Harrisonburg?


I heard (insert this, that or the other) about foreclosures. Is that going to affect us here in Harrisonburg?
By Scott Rogers • August 24, 2011
If you hear something about the housing market on the news, it will likely mention the big (bad, scary) problem of foreclosures. Things you may have heard could include: The next wave of foreclosures is going to be huge! There are millions of homes as a part of a "shadow inventory" -- that were foreclosed on by the bank, but that have not yet been put on the market for sale. Mortgage delinquencies are on the rise. Here's what you really need to know: Foreclosures are highly concentrated in just a few states. 52% of the foreclosure inventory in the second quarter of 2011 was in only five states. Harrisonburg and Rockingham County (and Virginia) foreclosure rates have always been much lower than most areas of the country. Harrisonburg and Rockingham County foreclosures are declining. So, yes, foreclosures are a problem nationwide, but significantly less so in Harrisonburg and Rockingham County. 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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