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City residents, recommend a name for the new City elementary school! |
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Thanks to Brent at On the Road Collaborative for the tip on this opportunity for City residents.... ![]() The Harrisonburg City School Board is asking residents of Harrisonburg City to submit recommendations for the new elementary school being built on Garbers Church Road AND the new pre-school center being built at Smithland Elementary School. This is a great opportunity to make your voice heard on important decisions in our community that will last for generations to come! click here to make your naming recommendation Facility naming guidelines include:
Recommendations must be received by 4:00 p.m. on December 10, 2015. The School Board will begin discussion on this matter at the January 19, 2016 school board work session. ![]() Click on the image above to download the architect's most recent report on this upcoming school facility. | |
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City prices down, County prices up |
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![]() As noted above, the pace of homes sales is increasing in both the City and County when comparing January through October sales figures in 2014 vs. 2015. The same across the board increase is not found in sales prices.... ![]() The median price has declined 2% in the City -- but has increased 5% in the County. Other items of note....
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Fewer Contracts, but, wait for it, More Sales! |
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![]() There have been 1% fewer contracts signed this year.... AHHHH!!??!! -- The Sky Is Falling!! -- alert, alert, panic, panic! Oh, but wait.... There have been 5% more closed sales this year. Hmmmm.....could it be that a higher percentage of contracts are making it to closing this year than last? Maybe the (slight) (itty bitty) decline in contracts is not too worrisome after all. | |
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November 2015 Harrisonburg Housing Market Report |
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![]() Learn more about this month's Featured Property: 1730 Buckingham 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.... ![]() October 2015 home sales were a bit slower (-7%) than last October -- but year to date home sales (January - October) have increased 5% in 2015 as compared to 2014. This increase in the pace of home sales has been accompanied by a 4% increase in both the median sales price and the average sales price -- and the time it takes to sell a home (median days on market) has declined by14% to 56 days. So -- more homes are selling, more quickly, at higher prices. Good news (for home sellers) on all three counts. ![]() As shown above, October home sales on their own, fit into the middle of the pack as compared to the past few October's. That said, 2015 has been a turbulent year over all -- with several months (June, August) hitting never-seen-before monthly high's -- and with some slower months as well. Looking forward, the past two years have shown dreadfully slow months of November -- will we really see that much of a decline this year? Or will sales stay a bit stronger this November? ![]() I greatly enjoy the graph above -- it most readily shows the overall improvement of the (YTD) home sales market over the past five years in Harrisonburg and Rockingham County. Clearly, there was a significant recovery in the pace of sales between 2012 and 2013 -- but we have seen continued recovery in 2014 (barely) and 2015 (more significantly). ![]() Inventory levels climbed ever so slightly (+1%) year-over-year in October -- and actually increased slightly from where we were a month ago. We will likely see these inventory levels drop off over the next few months as we head into the winter market. OK, that's it for now. You can read further commentary in coming days on my blog, HarrisonburgHousingToday.com, or dive right into the full market report, which you can read online or download as a 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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Mortgage Interest Rates Were Low Last Year, Even Lower This Year |
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![]() We might as well call it the year of the sub-4% mortgage interest rate. Other than a short time in June/July, we've seen sub-4% mortgage interest rates all year long! For a bit of context, compare that to mortgage interest rates during 2014.... ![]() | |
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Running the numbers of selling and buying |
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![]() If you're selling your current home to buy a new one, you may be wondering....
So many questions -- all very helpful to think through, calculate and discuss. The worksheet above can help you think through those numbers -- and it is available here as an editable Excel file. Enjoy! | |
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Google Spy Planes Flew Over Harrisonburg |
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Where to buy an investment property to be rented to JMU college students |
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![]() click here for a larger version of the map or here for a PDF The map above shows where JMU college students live, in a few categories of housing....
If you are interested in purchasing an investment property in Harrisonburg, you may want to check out HarrisonburgInvestmentProperties.com -- or, feel free to drop me an email (scott@HarrisonburgHousingToday.com) and we can discuss the best opportunities for you. | |
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In the absence of other offers, you should view a low offer as a compliment and an opportunity |
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Sellers are usually quite disheartened to receive a low offer on their house, for example, an offer of $365K on a $415K listing. But it is important to remember that even that low offer really is a complement! ![]() If you have not yet had an offer on your house (that is listed at $415K) and you receive an offer of $365K, that doesn't necessarily mean your house is only worth $365K, nor does it necessarily mean that you should accept $365K or something close to it. It does, however, mean something quite exciting --- somebody wants to buy your house!!! Of course, negotiations won't always work out with low offers -- but recognize a low offer for what it is -- a buyer who wants to buy your house, and perhaps the first buyer who has declared as much through a written offer! If there is any way to put a deal together with those buyers, you ought to pursue it, as it's hard to know when the next buyer will work up the courage to tell you that they want to buy your house! | |
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New rates at coworking space in downtown Harrisonburg |
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![]() If you are looking for a non-traditional office space from which to launch your next entrepreneurial venture -- or if you are a designer, consultant, free-lancer or telecommuter -- you ought to check out bluehub coworking in downtown Harrisonburg. Located across West Bruce Street from the Ice House (and Black Sheep Coffee, Pure Eats and Pale Fire Brewery) this coworking space offers affordable access to shared office space, conference rooms, and a great group of coworkers. While I accomplish much of my work from my real estate office, I also have an office space at bluehub where I work on real estate as well as TakeThemAMeal.com. So -- make it a point to check out bluehub this week -- I'd be happy to give you a tour. | |
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Walk Through 1730 Buckingham Drive |
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![]() 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.... ![]() | |
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Introducing NewListingsInHarrisonburg.com |
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![]() 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. | |
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After 29 years (?) the Settlement Statement changes |
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![]() 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. | |
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What does this showing feedback really mean? |
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![]() 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. | |
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Uber is now live in Harrisonburg |
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![]() 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. | |
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Just kidding, keep your house on the market for another month! |
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![]() 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....
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If you are taking your house off the market for the winter, consider acting soon! |
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![]() 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....
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Join me for breakfast on Friday |
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![]() This Friday, 7:00 AM - 8:30 AM, you too can enjoy this delicious menu....
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Consistent Showing Feedback |
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![]() 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. | |
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4th Annual Harrisonburg Rockingham Bike Walk Summit |
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![]() 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 | |
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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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