Archive for October 2015
| Older Posts |
 |
 |
Walk Through 1730 Buckingham Drive |
|
 Take a few minutes to walk through this immaculate Barrington home with beautiful landscaping features a large kitchen with custom cherry cabinetry and granite countertops and a desk area plus a large breakfast nook with plenty of natural light. All of the main living areas in this home feature hardwood floors, and the spacious living room features a beautiful stone fireplace. The oversized master suite offers a walk-in closet and large master bathroom with a jetted tub and separate shower. All this plus a large rec room in the basement with a bar and an adjacent side patio, a covered front porch, a composite deck and a fully fenced backyard. Don't miss the large storage area in the basement. Click here to walk through this home, on your computer, phone or tablet. Or, visit this home's property website. Or, view high resolution photos of this home by clicking the collage below....  | |
 |
 |
|
|
Introducing NewListingsInHarrisonburg.com |
|
 Over the past few months, many of you have pointed out that none of the local real estate websites offer a quick and easy way to check on recent listings, particularly on your phone or tablet. That's where NewListingsInHarrisonburg.com comes into play....  Now you can quickly and easily scroll through the most recent residential listings in Harrisonburg and Rockingham County, view the pertinent details, all of the photographs of the home, an area map, and then quickly and easily share that new listing with a friend, your spouse, your Realtor, etc. You can also sign up to receive an email alert every time there is a new listing....  And, finally, you can add the website to the home screen if you'd like, for quick and easy access....  If you have any questions about this new website, or suggestions for improving it, just let me know. Until then, go check it out, at NewListingsInHarrisonburg.com. | |
|
|
|
|
After 29 years (?) the Settlement Statement changes |
|
 The settlement statement (or HUD-1) that every buyer and seller has signed in every closing that I've been a part of (since I started my career in 2003) has always been the same. And that document is labeled "REV.HUD.1 (3/86)" at the bottom -- so I'm assuming that the form has been around (unchanged??) since 1986. But no longer! Now, instead of a "Settlement Statement" or "HUD-1" there will be a "Closing Disclosure" to be reviewed and signed at closing. The image above is the first of five pages of this new document. Learn all about this new document over here, at the Consumer Financial Protection Bureau. | |
|
|
|
|
What does this showing feedback really mean? |
|
 As a home seller, you will face rejection left and right -- many prospective buyers will come view your house and most of them will decide not to buy it. But how, as a seller, do you make sense of that feedback? I often hear the following types of feedback after a showing:
This type of feedback (size, location, floor plan) is difficult to do much with as a seller. You likely aren't going to build an addition to your house, nor will you physically move the house, nor will you reconfigure the floor plan. Sometimes the feedback is just a mild objection to be overcome -- did you realize that the unfinished bonus room could be finished quite inexpensively (size) and that the new South East connector will make your commute quite short (location)? Oftentimes, however, if you receive feedback about size, location or floor plan there isn't much you can do about it as a seller. I also, however, will hear the following types of feedback after a showing:
This type of feedback (price, condition, marketing) is completely in your control as a seller. Many buyers will not make an offer if they think your list price is too far from reality -- adjusting your pricing may be just what you need to either generate more showings, or have a chance of the showings turning into offers. I almost included AGE as a factor outside of a seller's control, but it's much more about condition -- how well has a property been maintained, and is it in top showing shape so that buyers don't feel overwhelmed by short-term cosmetic updates and long-term maintenance needs? Finally, if a house has not been marketed thoroughly and effectively, it will likely have a much longer "days on market" than other properties, worrying buyers that perhaps they shouldn't buy the home because nobody else has in the last ten months. Read more about, think more about, and learn more about selling your house at SellingAHomeInHarrisonburg.com. | |
|
|
|
|
Uber is now live in Harrisonburg |
|
 Looking for a ride from here to there? Check out Uber, a fast and easy way to get around Harrisonburg. Just download the app, request a pick up, and minutes later, an Uber driver will pick you up to take you to your destination.  I have used Uber in Richmond, Washington DC and New York City, and it was a great option for getting around. On a recent trip to Washington DC to see the museums and monuments, our family of four took the Metro for one leg of our journey, and Uber for the next. Uber was less expensive and a lot faster. Once you tap the button to request a ride, you can see, in real time, the Uber vehicle driving towards your pick up point -- and you can see a photo and the name of the driver to let you know who to expect, plus, their past passenger's ratings. When you are done with a ride, payment is automatically made through the app -- you do not have to have any money with you. Furthermore, you are able to rate the driver. Clearly, I'm a fan of Uber -- and while I don't know how often I'd really use it in Harrisonburg, I'm excited that it is now in our City, as I think it is a great transportation option for residents of and visitors to our growing metropolis. | |
|
|
|
|
Just kidding, keep your house on the market for another month! |
|
 Just kidding -- it turns out that with our recent MLS change, you only have to take your home off the market for 90 days in order to reset the "Cumulative Days on Market". And, to remind you one more time of my encouragements yesterday.... During these 90-ish days of being off the market, we will want to talk about price, condition and marketing....
| |
|
|
|
|
If you are taking your house off the market for the winter, consider acting soon! |
|
 In the Harrisonburg Rockingham Association of Realtors MLS, your house must be off the market for 120 days before the "days on market" will start counting at zero again. If you are planning to take your house off the market for the winter, but you wait until December 15 to do so, your "days on market" will still be accumulating if you put the house back on the market in early March. Thus, if you want to give your house a break from the market, fulfill the 120 day requirement, and then be ready to list again in early March, you should only keep your house on the market through the end of October. AND....take the time during those 120 days of being off the market to optimize price, condition and marketing....
| |
|
|
|
|
Join me for breakfast on Friday |
|
 This Friday, 7:00 AM - 8:30 AM, you too can enjoy this delicious menu....
| |
|
|
|
|
Consistent Showing Feedback |
|
 My house is next to the railroad tracks, but all of the potential buyers (who did not make an offer on my house) didn't complain about price, they complained about the railroad tracks. My house has an unbelievably steep driveway, but all of the potential buyers (who did not make an offer on my house) didn't complain about price, they complained about the steep driveway. My house is needs many cosmetic updates, but all of the potential buyers (who did not make an offer on my house) didn't complain about price, they complained about the need for cosmetic updates. Guess what --- unless you're going to move the railroad tracks (or the house), flatten the driveway, or make all of the cosmetic updates -- it really is an issue of price! If you're getting consistent feedback about your house that is unrelated to price, in almost all cases, you need to adjust the price to accommodate for that specific issue. If the price is lower then buyers might actually buy despite the specific issue that they were complaining about. | |
|
|
|
|
4th Annual Harrisonburg Rockingham Bike Walk Summit |
|
 Each year the Bike-Walk Summit brings together a broad range of partners who are working to make Harrisonburg and Rockingham County a great biking and walking community to live in and visit. This year, the theme is "Play to Our Strengths: The Secrets to a Biking and Walking Community" with a keynote address from Pete Eshelman, Director of Outdoor Branding with the Roanoke Regional Partnership. His talk and the other sessions will be focused on understanding the importance of biking and walking to the economy, creating a livable community that attracts and retains businesses and residents, promoting the community's walking and biking assets, and prioritizing biking and walking planning and investment. Find out more about this year's Bike-Walk Summit here, or plan to attend.... 4th Annual Harrisonburg & Rockingham Bike-Walk Summit Friday, November 13, 2015 James Madison University (JMU) campus | |
|
|
|
|
Come hear the stories of local Valley leaders at Ideas 2 Inspire |
|
 The Shenandoah Valley is full of tremendous entrepreneurial spirit. Ideas 2 Inspire is an opportunity to hear the stories of local Valley leaders who give tirelessly of themselves to improve the lives of their friends and neighbors. This is an event that honors leadership, purpose, and passion. Come listen as local leaders share authentic, human stories about their efforts to make our community better. Tuesday, October 20th Court Square Theater in Harrisonburg 6:30pm Admission: $10 Learn more at valleyi2i.com. | |
|
|
|
|
Mortgage Interest Rates Remain Low |
|
 For years now I have been thinking (and sometimes saying) that mortgage interest rates were certain to rose. From time to time they would rise, a bit, and then drop back down again. As you can see from the graph above, the current average rate of 3.76% is a good bit lower than where we were one year and two years ago. These low interest rates continue to make it a very compelling time for buyers to buy -- they can lock in tremendously low housing costs at historically low rates. Mortgage interest rates are sure to rise soon -- or wait, maybe they won't! | |
|
|
|
|
From a Lost Cause to a Revitalization Success |
|
 If you spend much time in downtown Harrisonburg, you've no doubt noticed that in recent years it's experienced a rebirth. Businesses are opening and thriving, events are drawing ever greater crowds, and the streets are full of people. How did this come about? TODAY, from 3:00—5:00, at the Capital Ale House in Harrisonburg, all are welcome to come and hear how Harrisonburg Downtown Renaissance (HDR) has transformed the city's downtown from so-called lost cause to national prominence. We'll hear about it from Eddie Bumbaugh, Executive Director of Harrisonburg Downtown Renaissance and one of the primary architects of its transformation. Eddie's love for Harrisonburg's downtown has deep roots, starting in his childhood when his father ran a downtown business. He'll walk us through the branding insights and marketing strategies that are driving the new downtown. WHERE: Capital Ale House, 41 Court Square, Harrisonburg. WHEN: Tuesday, October 13, 2015, 3:00 - 5:00 pm. The program is from 3:30 to 4:30, with time for networking before and after. COST: $10 for non-members, $5 for AMA members and students. This gets you one free beer ticket! HOW: Buy your ticket at the door, or pre-register online here! | |
|
|
|
|
Improvements in the $400K housing market |
|
 If you are hoping to sell a house in the $400K price range, your prospects of doing so are much better now than they were a year ago, and here is why....
If you are hoping to sell a $400K home, the market has seen significant positive changes over the past year that are likely to make your efforts much more successful now than they would have been a year ago. | |
|
|
|
|
October 2015 Harrisonburg Housing Market Report |
|
 Learn more about this month's Featured Property: 775 Confederacy Drive I just published my monthly report on the Harrisonburg and Rockingham County real estate market. Jump to the full online market report, or download the PDF, or read on for highlights....  After a wild and crazy month of August home sales (all 126 of them) the market cooled off a bit in September, showing a 13% decline in home sales. That said, the year-to-date pace of home sales is still 6% higher than it was last year -- and the median sales price has increased by 6% over the past year. Finally, homes are selling faster -- the median days on market is down 17% as compared to this time last year.  As shown above, the Summer 2015 real estate market has been a bit of a roller coaster ride -- with high peaks in June and August, and slower sales in July and September. I am sure that the ride will finish safely at the station in December -- but I haven't ridden this one before to know if there are more peaks, twists or turns to be experienced in October and November.  We are getting closer! And closer! And closer! We're seeing fewer sellers in the market, and more buyers -- this means that our market is (finally!?!) approaching a balance. We're already seeing it in some price ranges (particularly under $200K) but it will be good to see it in our overall market as well.  Just as we saw last year, inventory levels stayed relatively steady between the end of August and the end of September. We are likely to start to see inventory levels decline much more quickly in the next 30 to 60 days. OK, that's it for now. I'll hit some high points here on HarrisonburgHousingToday.com in coming days. In the meantime, you can read the full October 2015 Harrisonburg Housing Market Report online or by downloading the PDF. And as is always my encouragement -- if you will be buying or selling a home in the near future, become a student of the housing market! Learn what has been happening recently, what is happening now, and what is likely to happen next. Being informed will allow you to make better real estate decisions. If you are ready to buy or sell a property in Harrisonburg or Rockingham County, contact me at 540-578-0102 or scott@HarrisonburgHousingToday.com to get the process started. | |
|
|
|
|
Walk Through 775 Confederacy Drive (Great Oaks) |
|
 Take a few minutes to walk through this spacious, upscale, custom-built home featuring a beautiful living room with large picture windows offering views of the 5th hole tee box of Lakeview Golf Course. The slate patio looks out onto the well landscaped yard with a water feature. The custom kitchen offers granite countertops, hickory cabinets and KitchenAid appliances. The master bedroom features hardwood floors and the upgraded master bathroom offers granite countertops, a soaking tub and a large tile shower. The second level includes two additional bedrooms as well as a fourth bedroom or family room. The partial, unfinished, walkout basement offers storage space and a workshop area. Don't miss the laundry room with cabinetry, irrigation system and security system. Click here to walk through this home, on your computer, phone or tablet. Or, visit this home's property website. Or, view high resolution photos of this home by clicking the collage below....  | |
|
|
|
|
Introducing SellingAHomeInHarrisonburg.com |
|
 If you are thinking about selling your home in Harrisonburg or Rockingham County, you now have another resource to use to learn about the best marketing strategies for successfully sell your home. Check out SellngAHomeInHarrisonburg.com where I offer an overview of these marketing strategies, to include....
| |
|
|
|
|
How much can you spend versus how much you want to spend |
|
 Most folks who buy a home this year will not be paying cash. An important early stage of the home buying process is to talk to a lender to become pre-approved for a mortgage. As you meet with a lender, remember that there is often a difference between:
If you are looking for a qualified mortgage professional, I would recommend that you contact one of the individuals listed below. Most of my buyer clients work with one of these lenders:
Learn more about the home buying process at BuyingAHomeInHarrisonburg.com. | |
|
|
|
|
Introducing BuyingAHomeInHarrisonburg.com |
|
 If you are thinking about buying a home in Harrisonburg or Rockingham County, you now have another resource to use to learn about the home buying process. Check out BuyingAHomeInHarrisonburg.com where I offer an overview of the home buying process as well as information about....
Check out BuyingAHomeInHarrisonburg.com and let me know if you have any further questions about buying a home, or if you have ideas for how to make this an even more helpful resource for home buyers. | |
|
|
|
|
What did home buyers buy in September 2015? |
|
 As a summary....
| |
|
|
| Older Posts |
Scott Rogers
Funkhouser Real
Estate Group
540-578-0102
scott@funkhousergroup.com
Licensed in the
Commonwealth of Virginia
Home Search
Housing Market Report
Harrisonburg Townhouses
Walk Through This Home
Investment Properties
Harrisonburg Foreclosures
Property Transfers
New Listings
