The Ever Speedier Pace Of Our Local Real Estate Market
Maybe you've heard that homes are selling quickly these days? ;-) Indeed, they are! As shown above -- for the homes that have sold thus far in 2021, that went under…
Consider Strategically Crafting An Escalation Clause Based On Your Other Contingencies
So, let's consider this scenario... Offer #1 = $255K Offer #2 = $250K with an escalation clause to increase $1K above all other offers up to $270K Based on this…
Why Was MY Offer On The House Not The Winning Offer? Again!?
If you're trying to buy a house in 2021, it is not uncommon to make an offer on a house -- only to have it NOT be accepted. After all, many new listings are seeing 3, 5…
What Could I Discover In A Home Inspection That Would Make Me NOT Want To Buy This House?
The conversations about home inspections (and whether to do them as a part of a home purchase process) are playing out a bit differently these days. I used to always…
Why Are These Buyers Offering So Much Money For My House?
In this craaaaaazzzy seller's market, some sellers find themselves asking... Why Are These Buyers Offering So Much Money For My House? It's a fair question. And sort of a…
Welcome To The Ebb and Flow of the Summer Real Estate Market
Week 1 - Lots of new listings Week 2 - A few new listings Week 3 - No new listings Week 4 - Lots of new listings Scramble and repeat. Welcome to summertime! This spring…
Does An Increase In The Real Estate Tax Rate Directly and Significantly Affect Housing Affordability?
The City of Harrisonburg recently increased the real estate tax rate from $0.86 per $100 of assessed value to $0.90 per $100 of assessed value. Does this affect housing…
City Approves Increase In Real Estate Tax Rate, No Change In County
If you own real estate in the City of Harrisonburg, you'll be paying slightly more in real estate taxes due to a recently approved increase in the real estate tax rate…
The Housing Inventory Shortage Is Not Likely To Quickly Work Itself Out
Did you hear that... they had five offers within 24 hours... that house had 35 showings and 10 offers... there were 17 showings and eight offers... It's not happening on…
Theory: Low Inventory and Low Interest Rates Are Causing Some Overqualified Buyers To Willingly Overpay For Properties
ALERT: Anecdotal Evidence Only! I like data. I use data quite a bit to better understand the dynamics of our local real estate market. But, sometimes I can't figure out a…
Does The Current Rise In Home Prices Mirror The Last Real Estate Boom?
At first glance, yes, the current increase in median sales prices DEFINITELY mirrors the last run up in prices. Blue Line = Last Time (2003-2006) Orange Line = This Time…
City of Harrisonburg Considers 5% Increase In Real Estate Tax Rate
Here's the current lay of the land as it relates to real estate taxes in the City of Harrisonburg... The current tax rate in the City of Harrisonburg is $0.86 per $100 of…