Are modular homes common in our local market?
Before we get to the presence of modular homes in our local market, let's review some terminology.... According to Wikipedia, a stick-built structure is "one constructed…
Oops, sorry, that's already under contract
I've been hearing that a lot lately..... Contracts are on the rise --- and more and more of the competitively priced listings are selling, and selling relatively quickly…
Nationally, sales are up, inventory down per NAR, Calculated Risk
Just as we have seen over the past 6 to 12 months in Harrisonburg and Rockingham County as well as in Virginia, home sales are increasing and inventory levels are…
Overall Virginia housing market continues to gain strength
From the Virginia Association of Realtors this morning.... Home sales (# of sales) and median prices are both up across Virginia! Click the image below to download the…
Demand grows for new homes
A new foundation (pictured above) is going in at The Glen at Cross Keys as a result of growing local demand for new homes. Photo by Carey Keyes. Along with Carey Keyes…
JMU (slightly) boosts first year student count, continuing steady growth trajectory
After several years in a row of relatively similar sized classes of first year students at JMU, the first year headcount will jump up a bit this coming year, as shown…
Don't get distracted by YTD average days on market
Some sellers might despair when they see that the average days on market for homes sold thus far in 2012 is a whopping 229 days. Wow! But wait.... Don't despair yet…
True Story: Bidding wars after lengthy time on market
Timing is everything when it comes to real estate. For example, 2006 was not the best time to buy, and 2011 was not the best time to sell. But moving beyond those obvious…
Good news round up
Mortgage rates hit all-time low again: 3.83% on 30-year fixed rate. WSJ: Home prices rise in most of United States. NAHB: Harrisonburg added to list of improving markets…
Low mortgage interest rates offer unique opportunities
At some point, we will look back at early 2012 and marvel at how inexpensive money was at the time. After all, for over six months now, mortgage interest rates have…
Harrisonburg, Rockingham County housing market continues to gradually improve with home sales up 2%, prices up 4%
Many aspects of the local housing market have improved over the past year, and there are signs that this gradual recovery will continue. As shown above, most market…
If you bought during X your house is likely worth Y today
The chart above is calculated based on comparing this year's median sales price to the median sales price in each of the prior eleven years. Several key points to take…