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Come hear the stories of local Valley leaders at Ideas 2 Inspire |
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![]() 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. | |
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Mortgage Interest Rates Remain Low |
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![]() 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! | |
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From a Lost Cause to a Revitalization Success |
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![]() 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! | |
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Improvements in the $400K housing market |
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![]() 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. | |
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October 2015 Harrisonburg Housing Market Report |
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![]() 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. | |
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Walk Through 775 Confederacy Drive (Great Oaks) |
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![]() 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.... ![]() | |
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Introducing SellingAHomeInHarrisonburg.com |
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![]() 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....
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How much can you spend versus how much you want to spend |
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![]() 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. | |
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Introducing BuyingAHomeInHarrisonburg.com |
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![]() 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. | |
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What did home buyers buy in September 2015? |
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![]() As a summary....
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Buyers Slow to Respond in August, September |
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![]() Fewer buyers signed contracts to buy homes in August and September of 2015 as compared to the same month last year. Let's hope for an increased pace of signed contracts in October and November! | |
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Slow, Steady Progress at Preston Lake |
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![]() There were some interesting stats in the Daily News Record article earlier this week about Preston Lake ---
Read the entire Daily News Record article.... ![]() | |
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Foreclosures Continue to Decline in 2015 |
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![]() After peaking in 2010 at 270 completed foreclosure sales in Harrisonburg and Rockingham County, we have seen declines in nearly every year since then -- down to a total of only 163 foreclosure sales last year -- and a projected 154 this year. This decline in the number of foreclosed homes (and thus decline in the number of sales of banked owned homes, potentially at lower-than-market-value) is helping to continue to stabilize our local real estate market -- and it means fewer people are losing their homes due to their inability to make their mortgage payments. Good news on both fronts! | |
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Record Setting Year for High End Home Sales |
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![]() Only 75% of the way through the year, we have already seen more (23) home sales over $500K during 2015 than we saw in the entirety of any of the past six years. This is a promising sign for owners of homes valued over a half million dollars. ![]() Looking a bit deeper we see that a tremendous number of those home sales were over $600K. We have seen 15 home sales over $600K in the first nine months of this year -- well more than any seen in the past seven years. ![]() And finally, we see that quite a few of these home sales were actually over $700K! There have been more $700K+ home sales in the first nine months of 2015 than we have seen in the past four years COMBINED! | |
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Walk Through 950 Turkey Run Road (Harrisonburg) |
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![]() Take a few minutes to walk through this contemporary, updated, cedar-sided home in Sunset Heights offers privacy, convenience and plenty of mature trees. Enjoy hardwood floors through much of the first floor including the dining room and family room. Enjoy the outdoors from inside in the sunroom, screened porch, and many other areas of the home with lots of windows and natural light. The first floor features a guest suite with a large bedroom, office, full bathroom and two private entrances. The upper level features four bedrooms and two bathrooms. Don't miss the expansive covered front porch, natural, exposed stone throughout much of the lot, central vacuum, two car garage, garden shed and invisible dog fence. This property is in close proximity to Hillandale Park. 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.... ![]() | |
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Walk Through This Home, 6600 Lawyer Road |
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![]() Enjoy privacy and views of mountains and rolling pastures as you walk through this custom-built home on one acre on Lawyer Road with a three car garage, expansive deck, screened porch, detached workshop and walk out basement. The upscale kitchen features granite countertops, cherry cabinets, cherry hardwood floors and a tile backsplash. The first floor also features a dining room, study, and two story living room with a fireplace and open stairwell. This home features a first floor master suite, two additional bedrooms on the upper level, and an expansive finished basement with a family room, library, bonus room, full bathroom, mud room, and more. Don't miss the covered front porch, intercom and whole house audio system, and extensive landscaping. 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.... ![]() | |
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Rockingham County may expand Urban Development Area |
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![]() Click here to download a high resolution version of this map, and a few others as well! The Board of Supervisors will hold a public hearing today at 7:00 PM to receive input on expanding the its "Urban Development Area" to include the additional land shown on the maps above. This potential expansion would triple the size of the current UDA, which was established in 2011 just after Sentara RMH Medical Center opened. From the staff report to the Board of Supervisors.... "Since 2011, commercial and residential development activity has increased and Stone Spring Road has been completed. [...] Interest in the development of commercially zoned land in this same area is expected to increase as a result of the relocation and completion of Stone Spring Road and the construction of Albert Long Park."Why should this area be expanded, you might ask? Per today's DNR article... "According to county officials, an expanded UDA would put Rockingham County in a better position to compete for state money under the new prioritization process for transportation funding adopted by the General Assembly in 2014."Click here to read today's Daily News Record article on the topic. Click here to download an excerpt from the Board of Supervisor's packet. | |
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Night at the Museum tickets now available |
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![]() Night at the Museum - presented by the Explore More Discovery Museum - was voted one of the best charity events in the Shenandoah Valley by Virginia Living Readers This year, it will take place on Saturday, December 5, 2015 @ 7 pm. This extraordinary gala event is just for grownups and will feature a seasonal silent auction, music, and a live raffle. Featuring a "taste of downtown" with delicious food and drinks from favorite downtown restaurants in the downtown culinary district. Buy your tickets, or become a sponsor by visiting iExploreMore.com/night | |
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The Seasonality of Home Sales . . . Selling in the Fall is OK |
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![]() Fall is my favorite time of year. Cool weather, beautiful changing leaves, my birthday, a delicious Thanksgiving meal, time with family, candy corn, apple cider, where can you go wrong?? AND -- when looking at the full year of home sales leading up to (and including) last Fall, it seems that Fall was the second best time of the year (after summer) to sell your home. So, if you missed the Spring and Summer markets, and are considering putting your house on the market now, don't despair - there will still be some buyers looking at your home. | |
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Fear not, folks, mortgage interest rates are still below four percent |
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![]() For the past few years everyone has been thinking, saying, predicting that interest rates would rise. We're going to get back to 6% -- maybe higher. Or, maybe not. Taking a look at average mortgage interest rates, as I do around the middle of each month, we find that we're still below four percent. Thus, great opportunities still exist to lock in your housing costs at historically low levels relative to the interest rate on your fixed rate mortgage. Let me know if you'd like a recommendation of a lender to speak with if you are considering a purchase or a refinance. Here's to more low, low, super low interest rates!!! | |
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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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