Welcome! This blog tracks the real estate market in the Central Shenandoah Valley, featuring market data and analysis, an exploration of common buying and selling questions, and candid commentary on all things real estate.
If you are interested in discussing any of the topics on this blog, or the details of your specific real estate situation, call or e-mail me!
Walk through this new condominium at Founders Way, centrally located in Harrisonburg less than two miles away from downtown Harrisonburg. These condominiums for homeowners are a part of the existing Liberty Square neighborhood providing access to many amenities, including a jogging trail, workout stations, playgrounds and putting area. Each condo at Founders Way features a modern kitchen and an open floor plan, and all residents have access to high-speed internet access and a cable television service.
Find out more about these new condos at FoundersWay.com.
Per my prior reports, The Reserve at Stoneport may be one of the first new residential developments close to the new hospital location. Original indications were that The Reserve at Stoneport would consist of 396 apartment homes on 21.8 acres.
On the last day of 2013, 11.166 of those acres transferred from the land development company (Stoneleigh Associates, LLC) to what would appear to be the developer who will build this community (The Reserve at Stone Port I, LLC). This 11.166 acre parcel sold for $1,500,000 --- or $134,336 per acre.
Click here for a larger version of the map shown above.
Click here for the Owners Consent that shows the specific location of these 11.166 acres.
The image shown below is a rendering of The Reserve at Stoneport that was available as of October 2012. Stay tuned for updated information as it becomes available.
These were the prior details of The Reserve at Stoneport that are no longer available on the Stoneport web site, but are likely still indicative of the general direction that this development will take....
Local developers, Barry Kelley and Andrew Forward, are at it again -- transforming a downtown structure into an inspiring new space. Some of Barry and Andrew's past projects include City Exchange, Urban Exchange and The Walton Hotel.
VISION - Some of the ideas that have been discussed for The Ice House include:
LOCATION - The Ice House will be a transformation of the former Cassco ice plant located at 217 S. Liberty Street. As you can see, it's not a very exciting sight right now....
ZONING - The City of Harrisonburg has approved a rezoning request for 217 S. Liberty Street and the adjacent building, 115 W. Bruce Street.
HISTORICAL TAX CREDITS; GRANT - One of the only reasons that this project is able to move forward is because of the historical tax credits available for the project.
INDUSTRIAL REVITALIZATION FUND GRANT - Harrisonburg received a $500,000 grant from the Virginia Department of Housing and Community Development's Industrial Revitalization Fund. This grant is effectively a low-cost loan that will be available for the development of The Ice House.
COMMERCIAL TENANTS - Conversations are ongoing, but James Madison University has confirmed that they will occupy some of the space in The Ice House. One of the JMU offices that will relocate to The Ice House is communications, marketing and public affairs. Additional current plans for the commercial space include a restaurant, a mint operation and a yoga studio.
SCOPE, TIMING - The transformation of this 80,000 square foot building is estimated to cost $10 million and the aim is to have it substantially complete by the end of 2014.
STATUS - A detailed master plan is currently being developed to include 217 S. Liberty Street, 115 W. Bruce Street, as well as a 104-space parking lot on a parcel diagonally across West Bruce Street.
If you are looking for low-maintenance living under $200K in or near Harrisonburg, primarily on one-level, there aren't many options out there --- or there weren't many options, until Founders Way Condominiums started being built.
These upscale condos with an open floor plan feature two or three bedrooms and range in price from $150K to $200K.
View photos of a: two bedroom condo | three bedroom condo
View more details at FoundersWay.com.
Let me know if you have questions, or if you'd like to take a tour of these new condos.
Buyers at Founders Way will currently receive these great promos from the builder:
Buyers at Founders Way are often attracted to:
Find out more about Founders Way:
Full Disclosure: I represent the Scripture Communities, the builder/developer of Founders Way.
Buying a condo at Founders Way couldn't be any easier!
As of this week, Founders Way Condos are approved for FHA financing. These spacious condos have wonderfully open floor plans with 2 or 3 bedrooms, and start at only $149K.
Buyers at Founders Way are often attracted to:
Find out more about Founders Way:
Full Disclosure: I represent the developer of Founders Way.
Harrisonburg home buyers haven't had too many condo options to choose from in the recent past if they actually wanted to live in the condo....
Now, however, there is a new option in town --- Founders Way Condominiums. The condos at Founders Way feature 2 or 3 bedrooms, and start at only $142,900 (see all pricing). These newly built condos feature upscale kitchens, an open floor plan and spacious master suites -- think hardwood laminate floors, granite countertops, contemporary lighting fixtures, nine foot ceilings, decorative archways and colonnades, etc.
Oh, and quite a few of these new condos are selling! The community will eventually consist of 72 condos -- but for now the first building of 12 has been constructed, and the condos are at various stages of completion. Of the twelve condos in the first building at Founders Way....
Let me know if you'd like a tour of Founders Way --- I'd be happy to meet you on site. You can reach me at 540-578-0102 or scott@HarrisonburgHousingToday.com.
If you haven't stopped by Founders Way yet to see these newly finished condominiums, you might want to considering doing so this coming weekend during the SVBA Parade of Homes. Founders Way won several awards including Realtors Choice, Best Interior, Best Exterior and Best Overall.
But let's give Founders Way some context.... There are lots of townhouses for sale in Harrisonburg priced around $160k, with 1300-1400 square feet. The condos at Founders Way are similar ($160k, 1300-1400 SF) but they have some significant differences.
For more information, visit FoundersWay.com or call me at 540-578-0102 to schedule a time to look at this very new and very exciting product in our market.
This is a story of quickly rising, and quickly falling real estate values. In Harrisonburg. Despite a relatively stable overall housing market.
Some parents of JMU students buy an investment property for their son or daughter to use a a residence while at JMU, and many of these parents have historically bought condos and townhomes at Hunters Ridge.
Let's take a look at sales trends for each over the past several years:
As you can see here, prices of Hunters Ridge condos and townhomes had steadily (sometimes rapidly) increased for many years before arriving in 2009. Last year, Hunters Ridge sales slowed down to a snails pace --- with only one condo sale in the entire year, and only 3 townhome sales.
Good news --- townhomes and condos are starting to go under contract again. Bad news --- it's because the prices have dropped very low!
At the moment there are 5 condos on the market at the $60,000 price point, which is well below any recent sales price. There are also townhomes on the market for only $70,000.
Less maintenance than a townhome, all of the amenities of Liberty Square (and more), one-level living, private entrances . . . . enjoy all of this and more in these 1,300 to 1,800 square foot new condos in Harrisonburg starting at $139,900, built by Scripture Communities.
Click here for more construction photos.
Despite snowy weather, construction is moving along quickly at Founders Way. Below is a rendering of the finished product.
The first building of (12) condos will be complete in May 2010 or June 2010, thus making first time buyers for an $8,000 tax credit. PLUS....the builder is offering a free granite upgrade for reservations prior to March 31, 2010. PLUS....the builder is offering $3,000 of closing cost assistance.
Find out more at FoundersWay.com, call (540-578-0102) or e-mail me, or stop by the Liberty Square model on Fridays, Saturdays, Sundays or Mondays between 1:30 p.m. and 4:30 p.m.
Click here for Founders Way updates via Facebook
Click on the photo above to view updated Urban Exchange construction photos, showing the dramatic progress that is taking place just one block from Court Square.
Also, if you'd like to take a tour of Urban Exchange, please either stop by during our office hours, or also feel free to call or e-mail to make an appointment to meet on site:
Are you interested in living in downtown Harrisonburg?
To view the prices/rates while exploring the floor plans, click here.
The framing is continuing at a rapid pace at Urban Exchange in downtown Harrisonburg, future home of 196 condos, and 12,000 s.f. of retail space. View more construction photos on the Urban Exchange web site.
Have you driven by Market Street, Mason Street or Water Street lately? Here's what you have been missing --- lots of demolition on the Urban Exchange site . . .
Urban Exchange will be comprised of retail space, and four floors of condos and apartments.
To see more photos, visit: http://www.ueharrisonburg.com/photos.
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