HarrisonburgHousingToday.com :: Market Updates, Analysis and Commentary on Harrisonburg and Rockingham County Real Estatehttp://www.harrisonburghousingtoday.com/blog/index.phpThe Ebb and Flow of the Summer Real Estate MarketEbb and Flow

If you're buying or selling a home this summer, you might notice that things can feel a bit... unpredictable... from time to time.

One week there seems to be a steady stream of new listings hitting the market –– then the next, hardly anything new pops up. Showings on your home might be brisk for a few days, then quiet for a stretch. 

What's going on?

More often than not, these fluctuations are simply part of the natural rhythm of our summer real estate market here in Harrisonburg and Rockingham County.

Summer is full of transitions –– family vacations, long weekends, kids out of school, time away from work, etc. All of this impacts the real estate market in small but noticeable ways. A seller may have planned to list their home in mid–July but decided to wait until after their beach trip. A buyer might have been ready to tour homes this week but is out of town visiting family.

So, if you're watching the market and find yourself wondering why there are fewer listings this week, or why showings suddenly dropped off, it may just be the timing of summer plans.

Don't be discouraged by these ebbs and flows. This rhythm is completely normal for June, July, and August –– and things typically level out again as we move toward the fall.
  


Have Any Questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com]]>
http://www.harrisonburghousingtoday.com/blog/archives/2025/07/the-ebb-and-flow-of-the-summer-real-estate-market_1752232106/index.php?f=1Fri, 11 Jul 2025 11:08:26 +0000Scott Rogers
The Link, to include 265 Apartments, 2000 SF Commercial Space, 400 Space Parking Garage Proposed for Downtown HarrisonburgThe Link

If you've attended any of the summer concerts downtown, located next to the Turner Pavilion (home of the Harrisonburg Farmers Market) you have been on the site of a planned downtown park.

In September 2024, a conceptual plan was approved by City Council for a downtown park with a stage for performances.  

And... while you have been at said concerts... you have been next door to the proposed developing shown above, which will potentially feature...
  • a 6–story apartment building with up to 265 apartments
  • 2,000 square feet of commercial space
  • a parking garage with a minimum of 400 parking spaces
Here's the current site...

Current Site

And here's a top down view of the proposed site of this new development...

The Link

The Planning Commission met yesterday (July 9, 2025) to review this proposal and City Council will review the request on August 12, 2025.

Some additional details from the proposal include...
  • At least 25% of the apartments will be studio or one bedroom units
  • A maximum of 40% of the apartments will be 4–bedroom apartments
Here's another view of the proposed development...

The Link

Here's a birds eye view from the opposite direction...

The Link

For context...
  • This proposal would place 265 units on 2.75 acres (96 units/acre) as compared to another large downtown apartment complex, Urban Exchange, which features 194 apartments on 2.63 acres (73 units/acre).
  • The proposed 2,000 SF of commercial space is slightly larger than the 1,600 SF space occupied by Coffee Hound and the 1,400 SF occupied by Benny Sorrentino's.
  • The proposed 6–story building is about the same height as Urban Exchange, Hotel Madison, the JMU Student Success Center (former RMH), two bank buildings on Court Square, and the Public Safety Building.
The developer (Timberwolf Capital Partners) has recently completed similar projects in Williamsburg, VA (Midtown Row, 2022) an Syracuse, NY (CODA, 2024).

City staff recommends approval of the rezoning that would allow for this develop – and the Planning Commission also recommends approval.
  
Read more about this proposal here.
 


Have Any Questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com]]>
http://www.harrisonburghousingtoday.com/blog/archives/2025/07/the-link-to-include--apartments--sf-commercial-space--space-parking-garage-proposed-for-downtown-harrisonburg_1752146805/index.php?f=1Thu, 10 Jul 2025 11:26:45 +0000Scott Rogers
How Much Will a Buyer Pay for That View?Views!

If your home has a great view –– of the mountains, or the rolling pastures of the Shenandoah Valley –– you might wonder if a buyer will pay more for that view.  

Indeed, buyers will almost always pay more for a home with an amazing view than they would for an comparable home without that view.

But how much more?

This is where it gets a bit tricky. While it might feel like a million–dollar view, it's probably not going to add a million dollars to your home's value. :–) That said, it's still an important factor that we'll account for when pricing your home.

Ideally, We Find Comparable Sales with Similar Views

In a perfect world, we'll find a few other recently sold homes in your neighborhood or nearby that also had a great view. If those homes are similar in size, age, condition, and layout, the difference in sale price between those homes and comparable homes without a view gives us a pretty clear picture of what buyers are willing to pay for that extra scenic perk.

But Often, We Have to Make a Subjective Adjustment

Sometimes, we can't find those perfect comps with similar views. In that case, we have to make a subjective adjustment.  We might ask ourselves questions like...

How rare is this view in your neighborhood or price range?

How prominent is the view from key areas of the home –– like the living room, deck, or primary bedroom?

How much more appealing will the home feel to buyers because of the view?

And sometimes we might ask –– how much more would YOU pay to have that view?

It's not a science, but it is part of the art of pricing your home accurately –– making sure we capture every bit of value your property offers, including that phenomenal view.
  


Have Any Questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com]]>
http://www.harrisonburghousingtoday.com/blog/archives/2025/07/how-much-will-a-buyer-pay-for-that-view_1752056923/index.php?f=1Wed, 09 Jul 2025 10:28:43 +0000Scott Rogers
How Your Ownership Timeline Might Impact Your Home Buying DecisionsLength of Homeownership

When you're buying a home, you might find yourself trying to strike a balance between what you love and what will make the home appealing to future buyers. But how much weight should you give to resale value? There is one main variable that can be helpful to consider –– how long you plan to live there.

If you're planning to stay in the home for ten years or more, you don't necessarily need to stress about:

1.  The exact price you pay today.

2.  Whether the home has quirky features that might not appeal to everyone.

With a longer time horizon, you'll have more time for your home's value to appreciate–– so slightly overpaying now probably won't have a significant long–term impact. And if that sunken living room, bold paint colors, or uniquely shaped kitchen layout make you happy, great! You'll have many years to enjoy those features before it's time to sell.

On the other hand, if you expect to move again in just a few years, you should think more carefully about:

1.  How the price you're paying today lines up with current market value.

2.  Whether the home's features are broadly appealing or might limit your buyer pool when it's time to resell.

So, the shorter your anticipated length of ownership, the more you need to think about resale from the start. But if you're planning to stay put for a while, it's okay to make a few choices that are more about your enjoyment of the house rather than about selling it to the next owner in the future.


Have Any Questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com]]>
http://www.harrisonburghousingtoday.com/blog/archives/2025/07/how-your-ownership-timeline-might-impact-your-home-buying-decisions_1751971930/index.php?f=1Tue, 08 Jul 2025 10:52:10 +0000Scott Rogers
The Lie We Tell Each Other When Selling a HomeNeat House!

When you're getting ready to sell your home, chances are you'll spend weeks –– maybe even months –– cleaning, purging, organizing, simplifying, and decluttering. Every surface gets cleared off. Closets are thinned out. That collection of mismatched mugs? Boxed up. The kids' toys? Neatly contained or completely hidden.

And once all that work is done, your house will feel... peaceful... simple... uncluttered. You might even wonder why you didn't live like this all along.

But let's be honest: it's not how most of us actually live.

Here's the truth we rarely say acknowledge –– when we prepare our homes for sale, we're not just cleaning up. We're selling a lifestyle. A feeling. We're telling the next owner, "In this house, life will be different. Simpler. More organized. Less chaotic."

And yet, as soon as that new owner moves in, life takes over. Mail piles up on the counter. The garage starts to fill. The closets get full again.

Because it's not really about the house. It's just how life works.

This doesn't mean the work of simplifying and decluttering is wasted. It helps a home show better. It makes moving easier. It might even make a busy logistical time feel a bit more calm. But let's not fool ourselves –– we're not just cleaning –– we're preparing to tell a story to prospective buyers.

A lovely story. A hopeful story. But maybe, just maybe, a fictional story. 
 


Have Any Questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com]]>
http://www.harrisonburghousingtoday.com/blog/archives/2025/07/the-lie-we-tell-each-other-when-selling-a-home_1751885072/index.php?f=1Mon, 07 Jul 2025 10:44:32 +0000Scott Rogers
Thinking About a Retirement Community Move? Start Preparing EarlyRetirement Community

If you're considering a move to a retirement community –– even if it's still a few years away –– now is the perfect time to start thinking through the logistics. Most local retirement communities operate on a waitlist system, where you'll begin receiving calls when a home or apartment that matches your preferences becomes available.

The good news is you don't need to be constantly ready to sell your home or move at a moment's notice. 

But, to reduce the stress and simplify the transition when that call comes, here are three things you can start doing –– slowly –– in the years (or months) leading up to your move...

1. Start passing things along.

If you've lived in your current home for many years, chances are you've accumulated a fair amount of belongings. Now is a great time to begin giving meaningful items to children or grandchildren, or donating things you no longer need. Spreading this out over time makes the process far more manageable.

2. Tackle those lingering home projects.

There are likely some home repairs or updates you have delayed over the past few years –– whether it's repainting, fixing a leaky faucet, or replacing aging carpet. Taking care of these projects gradually will make your home more market–ready when the time comes, and it will help avoid a last–minute rush.

3. Declutter and organize.

You don't need to declutter or downsize everything all at once, but if you start to declutter now (slowly, over time) it will make the eventual home sale preparations a lot easier when that time comes.

By slowly working through these three steps, you'll likely feel far less overwhelmed if you get that call letting you know that your ideal home at a retirement community has just become available.
  


Have Any Questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com]]>
http://www.harrisonburghousingtoday.com/blog/archives/2025/07/thinking-about-a-retirement-community-move-start-preparing-early_1751542414/index.php?f=1Thu, 03 Jul 2025 11:33:34 +0000Scott Rogers
The Lower the Price, The Larger the Pool of BuyersPyramid of Home Buyers

When it comes to selling a home, one important factor that affects how much buyer interest you'll receive is the price point of your property. Simply put: the lower the price, the more buyers there are who can –– and likely will –– consider purchasing your home.

As shown on the pyramid above... the higher the price... the smaller the pool of buyers... the lower the price... the larger the pool of buyers.

At the upper end of the market, listings priced in the $700K+ range typically appeal to a smaller subset of buyers, for obvious reasons. The number of potential purchasers who are both financially qualified and ready to act is limited. In many cases, sellers in this price range may only see a handful of showings and offers, even in a healthy market.

Homes listed between $400K and $500K tend to attract a broader group of buyers. These properties might be move–up homes for buyers leaving their starter home, or attractive options for those relocating to the area. There's usually solid interest at this price point –– but not always an overwhelming amount.

The highest level of buyer interest, however, is almost always seen with listings priced under $350K. These homes tend to draw the largest crowd of potential buyers, including first–time homeowners, investors, and those looking to downsize. It's within this price bracket that we most often see multiple–offer scenarios, competitive bidding, and homes going under contract within just a few days.

For example, a recent listing under $350K in the City of Harrisonburg received nine offers within days of hitting the market. That kind of response speaks volumes about the demand at this price point.

Of course, there are always exceptions –– and we still see multiple offers at various price levels. But if you're preparing to sell, it's helpful to understand that a lower asking price typically opens the door to a much larger pool of buyers.
  


Have Any Questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com]]>
http://www.harrisonburghousingtoday.com/blog/archives/2025/07/the-lower-the-price-the-larger-the-pool-of-buyers_1751457105/index.php?f=1Wed, 02 Jul 2025 11:51:45 +0000Scott Rogers
57 Townhomes Planned For Congers Creek, Phase 4Congers Creek

The Rockingham County Board of Supervisors approved the development of Phase 4 of Congers Creek to include 57 townhomes with the following likely breakdown of townhouse styles...

     Townhome with garage and walk out bonus room (35)

     Townhome with garage and in–ground bonus room (18)

     Townhome with full walk out basement (4)

Construction on this new phase will begin as Phase 3 wraps up.  The current phase includes 45 townhomes... with most of those already under contract... but a few more to come on the market within the next few weeks.

Congers Creek is a popular townhome community with many community amenities and more on the way...

Congers Creek

Congers Creek

Congers Creek

Congers Creek
  
Of note... I represent the builder/developer of Congers Creek.
   


Have Any Questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com]]>
http://www.harrisonburghousingtoday.com/blog/archives/2025/07/-townhomes-planned-for-congers-creek-phase-_1751372206/index.php?f=1Tue, 01 Jul 2025 12:16:46 +0000Scott Rogers
Keep the House, Keep the Low RateKeeping the low rate!

If you're moving out of the area –– or you've simply outgrown your current home –– you might assume the next step is to sell your home. But if you've got a super low mortgage interest rate (say, 3% or less), it's worth pausing for a moment.

We might never see mortgage interest rates that low again... possibly ever.  Mortgage rates today are much higher (6% +) so if you sell and buy something else, your monthly payment could increase a lot –– even if the new house isn't much more expensive.

Here's the good news: you might not have to give up that low rate.

An option to consider is whether you can keep your current home and rent it out. Even if you've never pictured yourself as a landlord, it might be easier than you think –– and it lets you hold on to the benefit of that low–rate mortgage. With local demand for rental housing staying strong, your home could bring in steady income while also continuing to grow in value over time.

Of course, renting out a home isn't for everyone. But if you'd rather not say goodbye to your 2.75% mortgage –– it's an option worth considering.
  


Have Any Questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com]]>
http://www.harrisonburghousingtoday.com/blog/archives/2025/06/keep-the-house-keep-the-low-rate_1751286833/index.php?f=1Mon, 30 Jun 2025 12:33:53 +0000Scott Rogers
Stop Being Surprised That Sellers Do Not Like Your Modified Inspection ContingencyHome Inspection

In multiple offer situations, sellers are looking at every aspect of each offer –– side by side –– comparing terms line by line. And when it comes to home inspections, they're usually comparing just two broad categories...

    Offers contingent on a home inspection

    Offers not contingent on a home inspection

For obvious reasons, sellers prefer the second option. An offer without an inspection contingency gives them confidence that the deal won't fall apart after the inspection takes place.

But sometimes buyers try to split the difference. They get creative...

    “We'll do an inspection, but we won't ask for repairs –– we just want the option to walk away.”

    “We'll only walk if there's a major issue, like something costing more than $5,000 to fix.”

    “We'll do an inspection, and if we back out, you can keep our earnest money deposit.”

While these modified inspection contingencies might all sound like reasonable compromises to a buyer, here's the reality:

    Yes, they're usually better than a standard inspection contingency.

    They're still worse than no inspection contingency at all.

So don't be surprised when your creative version of an inspection contingency doesn't win the house in a multiple offer situation. 

Sellers have choices –– and if another buyer is willing to move forward without any inspection contingency, that offer will likely look more appealing.

Bottom line? If you're buying in a competitive situation and you want the right to do a home inspection, be prepared for the possibility (or likelihood) that your offer will not be accepted. 
  


Have Any Questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com]]>
http://www.harrisonburghousingtoday.com/blog/archives/2025/06/stop-being-surprised-that-sellers-do-not-like-your-modified-inspection-contingency_1751025294/index.php?f=1Fri, 27 Jun 2025 11:54:54 +0000Scott Rogers
What Does a Buyer See First When They Step Into Your Home?Entering Home

Are you starting to make preparations for getting your house on the market?

A good first step –– before decluttering, before cleaning, before listing photos, before the first showing –– is to take a short walk.

Yes, I know… it's hot out there. But... step outside, take a breath, and then walk through your own front door just like a potential buyer would do for the first time. Close the door behind you, pause, and look around.

What hits you first?

Do things feel calm or cluttered? 

Is the space inviting –– or are there visual distractions that grab your attention? 

How does the lighting feel? 

What do you smell? 

What do you hear?

These first 10 to 15 seconds matter more than you might think. Buyers make quick judgments –– often before they've taken more than a few steps into your home. That gut–level first impression sets the tone for how they experience the rest of the house.

If the entryway feels tight, dark, or crowded, think about what you can remove or rearrange. If it feels bright, clean, and welcoming –– we're on the right track.  

Remember, preparing your home for the market isn't just about making a space look decluttered, simplified and clean –– it's about helping buyers feel comfortable and at home from the very first step into your home.

If you'd like a fresh perspective on your home's first impression stacks up, I'd be happy to stop by and do that first impression check with you.
 


Have Any Questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com]]>
http://www.harrisonburghousingtoday.com/blog/archives/2025/06/what-does-a-buyer-see-first-when-they-step-into-your-home_1750937417/index.php?f=1Thu, 26 Jun 2025 11:30:17 +0000Scott Rogers
Few Recent Comparable Sales? That Might Mean More Buyers, Not Fewer0 Homes Sold

When preparing to sell your home, one of the first things we typically do is to look for comparable sales –– recent sales of similar homes in your neighborhood or school district (or part of the County) to help determine an appropriate list price.  But what happens when there are very few (or no) comparable sales to be found?

At first glance, a lack of recent sales might seem worrisome.  We might think that if homes haven't been selling, maybe there aren't many buyers in the market. But more often than not, that conclusion is off the mark.

In today's market, especially in Harrisonburg and Rockingham County, a small number of comparable sales within a particular segment of the overall market doesn't always mean there are very few buyers out there. In fact, it frequently means the opposite is true: fewer sellers who want to sell.

Over the past few years, we've seen a noticeable (significant?) decline in the number of homeowners choosing to sell. Some are holding onto historically low mortgage rates, while others are hesitant to jump into a competitive market as buyers themselves. As a result, fewer homes are hitting the market for sale –– and that scarcity means fewer comparable sales for prospective sellers to reference.

But fewer homes selling in your price range or neighborhood doesn't necessarily mean fewer people want to buy. In many cases, it's the other way around.  With limited options available, buyers are often waiting eagerly for the right home to come on the market –– especially in popular neighborhoods or price ranges.

So, if you're preparing to list your home and find there are very few recent sales nearby, don't assume there's no demand. The lack of sales might simply mean no one else has given buyers a chance to buy. And your home might be the one they've been waiting for.


Have Any Questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com]]>
http://www.harrisonburghousingtoday.com/blog/archives/2025/06/few-recent-comparable-sales-that-might-mean-more-buyers-not-fewer_1750856058/index.php?f=1Wed, 25 Jun 2025 12:54:18 +0000Scott Rogers
What Houses Will You Be Competing With... And How Do You Compare?The Competition!

When you're getting ready to sell your home, one of the most important things we will talk about is the asking price for your house.

While we will certainly focus primarily on the most recent sales in your neighborhood, or the most recent sales of similar homes, there is another critical factor to consider:

What other homes will buyers be comparing to yours?

In many ways, your asking price determines who your competitors are. If you price your home at $425,000, buyers looking in the $400K to $450K range are likely to see your home alongside several others in that same price range. So it's important to ask yourself:

If a buyer toured your home and three other similarly priced homes, which one would they choose?

To answer that question, we'll take a close look at current active listings – and even homes that are already under contract. These are the homes your house will be (or would have been) competing with for attention and offers.

Here are a few things to consider:

[1] How does your home's size and layout compare to others in the same price range?

[2] Are there homes with more recent renovations, new kitchens or bathrooms, or updated systems?

[3] Does your home show as well in photos and in person as the others?

[4] Are there differences in school districts, proximity to amenities, or yard space that might matter to buyers?

Once we've looked at the competing homes, we'll step into the shoes of a buyer. We'll be asking –– if all these homes were priced about the same, which one would we pick?

If your home stands out in a positive way, great – you will likely be positioned well. If it falls short in a few areas, we might want to talk about starting at a slightly lower asking price or make some strategic improvements to compare more favorably to other competing listings.

You can't control the what other homes are on the market for sale (and how they are priced) but you can control how you position your home within that context.

Looking at the homes buyers will be comparing to yours helps ensure your pricing is both competitive and compelling – which can make a big difference in how quickly we can secure a buyer for your home.
  


Have Any Questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com]]>
http://www.harrisonburghousingtoday.com/blog/archives/2025/06/what-houses-will-you-be-competing-with-and-how-do-you-compare_1750765263/index.php?f=1Tue, 24 Jun 2025 11:41:03 +0000Scott Rogers
You Probably Do Not Need to Worry About Capital Gains Tax When You Sell Your HomeCapital Gains Tax?

If it's been a while since you last sold a home, you might still think you need to purchase a new home afterwards to avoid paying capital gains taxes. That used to be true –– but it changed back in 1997.

Today, most homeowners benefit from a much simpler and more generous rule:
  • If you're single, you can exclude up to $250,000 in capital gains.
      
  • If you're married filing jointly, you can exclude up to $500,000.
This exemption applies to your gain, not the total sales price –– and you don't need to buy another home to qualify. You just need to have owned and lived in the home for two of the past five years.

Why it matters

In most cases, especially in our local market, homeowners don't make more than $250K – $500K in profit when they sell –– which usually means no capital gains taxes are due.

So if you're thinking about selling and wondering about tax implications, the answer is simple:

Chances are, you're in the clear.

There is a slight caveat if you used a portion of your home for business or rental purposes, so if you did, touch base with me and I can explain that a bit more fully or refer you to a great tax professional.



Have Any Questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com]]>
http://www.harrisonburghousingtoday.com/blog/archives/2025/06/you-probably-do-not-need-to-worry-about-capital-gains-tax-when-you-sell-your-home_1750679296/index.php?f=1Mon, 23 Jun 2025 11:48:16 +0000Scott Rogers
PSA for Future Sellers: Schedule Exterior Photos Before Summer FadesColor!

 I know it feels like Summer has just begun... actually, technically, summer didn’t begin until today… June 20th.

But, despite Summer just beginning... let's think ahead three to six months... especially (perhaps only) if you plan to sell your home this coming Fall or Winter.

If you will be –– or think you will be –– putting your house on the market this coming October, November, December, January or February –– this Public Service Announcement is for you!

PSA: Now is the perfect time to get a head start on one important detail: your exterior photos.

This time of year, your yard is likely looking its best. The grass is green, the trees are full, and plenty of landscaping is in full bloom. Come November, December, January, etc. –– those same scenes will be quite a bit less vibrant. 

Capturing your home’s exterior while everything is lush and colorful can make a big difference in the marketing of your home online.  Buyers often form their first impressions from exterior photos, and a bright, welcoming exterior can draw buyers in more than a fall or wintertime photo.  

So, if you're planning to sell your home soon (in the next 3 to 6 months) but not now... it can still be a good idea to capture exterior photos now or soon while the weather (and your yard) are still cooperating.

If you want to prepare for a Fall or Winter listing, let me know and I can work on scheduling exterior photos ASAP.
   


Have Any Questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com]]>
http://www.harrisonburghousingtoday.com/blog/archives/2025/06/psa-for-future-sellers-schedule-exterior-photos-before-summer-fades_1750432370/index.php?f=1Fri, 20 Jun 2025 15:12:50 +0000Scott Rogers
Waiving the Inspection? Only If You Have To!Home Inspection!

Given the current competitive housing market (in most price ranges) in Harrisonburg and Rockingham County, you might find yourself in a situation where your offer is competing with offers from other buyers.

In such a situation, some buyers will opt to NOT include a home inspection contingency.

Waiving an inspection can make your offer stronger and more appealing to a seller. Price still matters to most sellers, but waiving the home inspection can make a big difference when competing with other buyers.

Does that mean home inspections don't matter?

If you are making an offer that is not competing with the offers, and if the seller would likely accept an inspection contingency, should you just skip the inspection anyhow?

Not at all!

When you're not competing with other offers... don't skip the inspection!

A home inspection will almost always give you valuable information about the condition of the home you plan to purchase – including deficiencies you might not have noted when walking through the house, as well as pointing out areas where you might make improvements or upgrades in the future.

I always recommend a home inspection when the situation allows for it.

The Balancing Act – Wanting an Inspection, but Wanting a House!

To be clear, I understand the current reality in many segments of our local housing market... in a competitive offer scenario, including an inspection contingency will likely mean losing out on the home altogether. 

But when you do have the chance to include an inspection, it's smart to take it. Even if you don't end up requesting or negotiating repairs, it will still give you peace of mind and the opportunity to affirm your buying decision with more information about the house.

Every home and offer scenario is different.

I'm happy to talk through the pros and cons of including an inspection in your offer, based on the current market conditions and the specific home you're considering.  

We can talk about these sort of big picture issues in general ahead of time... but it will all change once we are walking through a house you want to buy.


Have Any Questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com]]>
http://www.harrisonburghousingtoday.com/blog/archives/2025/06/waiving-the-inspection-only-if-you-have-to_1750334730/index.php?f=1Thu, 19 Jun 2025 12:05:30 +0000Scott Rogers
New Starbucks Nearing Completion at StoneportStarbucks

A new Starbucks location is preparing to open at Stoneport... more specifically, at the intersection of Stone Port Boulevard and Stone Spring Road... across Stone Spring Road (more or less) from the new Chipotle, and across Stone Port Blvd from Dupont Community Credit Union...

Starbucks

Construction is still ongoing but it seems likely to open soon... and it has a drive through option.  

It also has a nice covered, outdoor seating area...

Starbucks
  


Have Any Questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com]]>
http://www.harrisonburghousingtoday.com/blog/archives/2025/06/new-starbucks-nearing-completion-at-stoneport_1750248716/index.php?f=1Wed, 18 Jun 2025 12:11:56 +0000Scott Rogers
Should You Upgrade Before You Sell? Let Your Neighbors Be Your GuideBathroom Renovation

So, you're planning to stay in your home for another year or two... but then you know you will almost certainly sell your home... and you're wondering if you should update ___ or upgrade ___ in your home.  You wouldn't have much time to enjoy the changes yourself, so you're mainly wondering whether it is worthwhile to make the changes in order to sell for a better price or on more favorable terms.

The upgrades in question might be new kitchen countertops, new flooring, updating the bathrooms, painting the main living spaces, or any other number of other updates or upgrades.

So, should you make the changes?  Should you update your home in this way if you will be selling in a year or two?

One way to think about this decision is to look around at other homes... in your neighborhood, or nearby and in your price range.

Do these similar homes have the updates that you are considering?  If so, it would probably be best to make the upgrades as well.  If not, you might be fine not to make the updates!

Why does it matter?

If homes like yours – with similar square footage, the same general layout, of a similar age – have already upgraded the areas you are debating, that might be a sign that buyers will expect those features when you are ready to sell your home. On the flip side, if no one’s touched their original oak cabinets or oh so colorful 90's tile, you might not need to make the updates after all!

So, Should You Upgrade?

Before you commit to a project, check recent listings or recent sales in your neighborhood, school district and/or price range. Feel free to ask for help – I can help you find the best houses to be using as a context.


Have Any Questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com]]>
http://www.harrisonburghousingtoday.com/blog/archives/2025/06/should-you-upgrade-before-you-sell-let-your-neighbors-be-your-guide_1750163276/index.php?f=1Tue, 17 Jun 2025 12:27:56 +0000Scott Rogers
Fewer Homes Are Selling in 2025, But Prices Continue a Modest ClimbMonthly Market Report

Happy Monday morning.. and Happy belated Father's Day to all the dads!

We're nearly halfway through 2025 now, and below I'll give you an update on the latest data and trends in our local housing market.  

But first... 

Red Wing

[1]  If you haven't snagged a ticket for Red Wing Roots Music Festival... do so now... the fun kicks off this Friday, June 20 at Natural Chimneys in Mt Solon, VA.  I'll be out there all weekend... see you out on the music meadow!  Buy your tickets (3–day or 1–day) here.

[2]  Speaking of Red Wing, one of the many great food vendors is Kline's Dairy Bar... and this month I'm giving away a $50 gift card to one of the readers of this market report.  Enter to win here. I'm hoping Lemon Gingersnap is one of the flavors at Red Wing again this year.  :–)

[3]  Learn more about our local housing market a little bit each day... subscribe to my daily email newsletter to hear more about buying, selling, the market, new developments, and more.

[4]  If you will be selling your house soon, or if you are starting to consider a home purchase, I'd be delighted to help you with the process.  Reach out anytime by phone/text at 540–578–0102 or by email.  

And now... let's get into a bit of data.  Quite a few charts, and some graphs, and I'll throw in my comments and perspectives as we walk through them.

First, the overall market in Harrisonburg and Rockingham County...

Monthly Market Report

I have (much) more highlighted above than I'll actually reference below.  Some things I am noticing in this big picture overview of our local market...

[1]  We are seeing fewer home sales over the past six months than were seen a year ago at the same time.

[2]  We're seeing low single digit increases (1% to 3%) in the median sales price regardless of the time horizon we consider. 

[3]  Homes are selling (going under contract) just as quickly now as they were a year ago.

When we zoom in on only detached homes, we find relatively similar trends...

Monthly Market Report

When considering only detached homes, we find...

[1]  A 16% decline in home sales in 2025 compared to 2024... whereas we were seeing a 13% decline in the overall market.

[2]  The median sales price over the past 12 months is up 7% from the prior year... compared to only a 3% increase in the overall market.

Whereas when looking at only attached homes...

Monthly Market Report

When looking just at the attached home sales market...

[1]  There have been 15% more attached home sales over the past 12 months compared to the prior 12 months... while there has only been a 3% increase in the overall market.

[2]  While the overall market has seen a 3% increase in the median sales price over the past 12 months... attached home sales have only seen a 1% increase in the median sales price.

So... in summary, thus far...

[1]  Fewer home sales in 2025 than in 2024... though the decline has been sharper in detached homes.

[2]  Small increases in median sales prices of late... though the increase has been larger in detached homes.

Some buyers are shopping based on City vs. County... be that for the school system, or other geographic factors.

So, let's look just at trends in the City of Harrisonburg...

Monthly Market Report

Some of these stats for the City of Harrisonburg jump right out at me...

[1]  We've seen 28% fewer home sales thus far in 2025... compared to only a 13% decline in the overall market.

[2]  We're seeing an 8% increase in the median sales price over the past 12 months... compared to only a 3% increase in the overall market.

We were seeing fewer detached homes... and a stronger increase in those median sales prices... and the same thing is occurring with City home sales.

Now, looking at Rockingham County....

Monthly Market Report

In contrast to the City, here's what we're seeing in Rockingham County...

[1]  Fewer home sales (–8%) are happening this year in the County... though that isn't as much of a slowdown as we are seeing (–13%) in the overall market.

[2]  The median sales price in Rockingham County has only increased 1% over the past 12 months... compared to a 3% increase in the overall market.

So... just as the attached home market wasn't quite as squeezed... and prices didn't pop quite as much... we're seeing the same thing in Rockingham County.

Finally, let's see what's happening with new home sales lately...

Monthly Market Report

When it comes to new home sales...

[1]  Fewer new home sales are happening thus far in 2025... note the 17% decline, compared to a market–wide 13% decline.

[2]  The median sales price of new homes has actually dipped 2% over the past 12 months... compared to a 3% market–wide increase.

Keep the two changes above in context, however, given that the availability of new homes can fluctuate based on construction schedules... and the median price of new homes can vary based on what products are being built and sold.

And how about those existing (resale) homes...

Monthly Market Report

When it comes to existing home sales...

[1]  There have been 11% fewer sales thus far in 2025 than last year... pretty close to the 13% market–wide decline.

[2]  The median sales price has risen 6% over the past 12 months... compared to the 3% increase for all homes.

So, just like detached homes and City homes, existing homes are harder for buyers to find... and prices are rising more quickly.

Now, some graphs, for all the visual learners, me included...

Boulder Ridge

Has 2025 been a slow (slower) year for home sales in Harrisonburg and Rockingham County?  Yes, yes, it has been.  

Each month thus far in 2025 has shown fewer home sales (red line above) than the corresponding month in 2024 (blue line above) and it doesn't seem likely that we will see that change anytime soon.

Here's the cumulative impact of five months of fewer sales...

Monthly Market Report

Each of the past three years has seen more home sales in the first five months of the year (610, 500, 549) than we have seen this year (480) in Harrisonburg and Rockingham County.

Thus, extrapolating a bit, we are almost certain to see fewer than 1,227 home sales in 2025 by the time we get to the end of the year.

Next up, here's a slightly clearer look at trends in how many homes are selling and the prices at which they are selling...

Monthly Market Report

On the top half of the graph you'll see that there has been a 4% increase in the median sales price over the past year... but that's down from an 8% increase the prior year.

On the bottom half of the graph, the annual pace of home sales is technically trending upwards (1,276 to 1,319) but we have seen steady declines in this annual pace of sales over the past five months.

Here's another view of a new trajectory for the median sales price in our area...

Monthly Market Report

Lots of caveats here before anyone jumps to any conclusions...

[1]  The 2025 median sales price is just for January through May, whereas the 2024 figure includes all 12 months of last year.  We'll likely see more of a year over year increase in median sales prices by the end of the 2025.

[2]  Are sales prices and/or home values flattening out in Harrisonburg and Rockingham County?  They're certainly going up more slowly than they have been... but as explained a few different ways earlier on... it varies greatly based on location and property type.

[3]  Will we see a decline in the median sales price in 2025?  I don't think so, but I'll keep monitoring the data and will keep you informed.

Next up, contract activity... the best leading indicator of the next few months of closed home sales...

Monthly Market Report

Nothing too wild or crazy to report here (just wait for the next graph!?!) when we look at contract activity.  Yes, April and May contract activity was slower in 2025 than it was in 2024... but not by much.  I expected we would see contract activity jump up in April and May (compared to March) and it did.

And now... the most surprising (and/or puzzling graph) this month...

Monthly Market Report

Wait, what!?!  

Inventory levels (the number of homes on the market for sale) are quite a bit higher this month than any month in any recent year.  

We had seen inventory levels steadily climb between January and March... but only right back to about where they were in March last year.  

Now, we might be seeing a different trajectory... more homes for sale... or maybe it's just a one month blip.  Stay tuned!

Finally, the graph that isn't that surprising at all...

Monthly Market Report

Those silly mortgage interest rates.  They go up a bit, they come down a bit.  They're still sticking between 6.5% and 7%... and I don't expect that they will leave that zone anytime soon.  Thus, I don't recommend waiting around for a 6% interest rate before you move forward with a purchase, if you're otherwise ready to buy.

Wrapping things up...

The local housing market in 2025 is undeniably slower than last year, especially for detached homes and properties within the City of Harrisonburg. We're seeing fewer sales across nearly every segment –– but prices, while not surging, are still inching upward in most areas. Inventory is starting to climb, which could lead to more options for buyers in the coming months. All that said, market dynamics continue to vary significantly based on property type and location!

Buying Soon?

Be Ready: With homes still going under contract quickly, it’s smart to be pre–approved and ready to act when the right home comes along.

Explore All Options: Attached homes or those in the County may offer more availability and slightly less price pressure.

Don’t Wait for 6% Rates: Mortgage rates are holding steady between 6.5% – 7%. Waiting for lower rates might just mean paying more for the home.

Selling Soon?

Price Thoughtfully: Buyers have more choices now in some locations and price ranges. Pricing your home accurately is key to attracting interest quickly.

Presentation Matters: With more competition, the presentation and marketing of your home is key to making it stand out.

Detached Home Owners, Take Note: The home you will be selling remains in high demand, especially in the City – so a well–prepped listing is likely to still generate very strong interest.

If you have questions about anything I have mentioned above... or about your home or situation... feel free to reach out anytime by phone/text at 540–578–0102 or by email.

If it would be helpful to meet to talk things through... just let me know.  I'm happy to meet up with you over coffee, at my office, or sitting in a camp chair at Red Wing.

Have a wonderful week!
  


Have Any Questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com]]>
http://www.harrisonburghousingtoday.com/blog/archives/2025/06/fewer-homes-are-selling-in--but-prices-continue-a-modest-climb_1750073243/index.php?f=1Mon, 16 Jun 2025 11:27:23 +0000Scott Rogers
Is One Room Holding Back The Value of Your Home?Update Needed!

When preparing to sell your home, especially in the year or two leading up to putting it on the market, it's worth stepping back and asking whether there is one part of your home that doesn't match the standard of the rest of the house.  Maybe you've updated most areas over the years –– kitchen, bathrooms, roof, windows –– but one space still feels dated or neglected.

Buyers often form an overall impression of a home based on consistency. If everything else feels like a "$450K home" but the kitchen (or flooring, or landscaping, or primary bathroom) looks more like "$375K," that mismatch can leave them questioning the value. Even if it's just one area, it can create hesitation –– or open the door for lower offers.

Even if you will only be in your house for another year or two prior to selling, it can be worthwhile to identify and invest in bringing that one last area up to the standard of the rest of your home. Whether it's old carpet that never got replaced, a kitchen that's still stuck in the early 2000s, or a backyard that has never had anything more than minimal landscaping, taking care of that final project can help your home feel complete to buyers.

Of course, every home is different, and not every upgrade pays off equally. But if one room or feature feels noticeably behind everything else, it's often worth addressing –– especially if most of your home already shows well. It can be the difference between strong buyer interest and a home that sits on the market longer than expected.

If you're unsure where to focus or how much to invest, I'm always happy to walk through your home with you and offer a few thoughts. Sometimes, that one last improvement can make the difference in helping your home sell quickly and for the best price.
  


Have Any Questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com]]>
http://www.harrisonburghousingtoday.com/blog/archives/2025/06/is-one-room-holding-back-the-value-of-your-home_1749818830/index.php?f=1Fri, 13 Jun 2025 12:47:10 +0000Scott Rogers