A Rough Two Years For Rising Mortgage Interest Rates
Mortgage interest rates have been declining on a weekly basis over the past month, but... let's not forget exactly where we are relative to the past 30, 40 and 50…
Demand Is Likely To Keep On Rising For Contractors And Home Renovators
We seem likely to see a continued increase in demand for contractors and home renovators in Harrisonburg and Rockingham County in 2024. If you're thinking about getting…
Update On City Of Harrisonburg Townhouse Market
The median sales price of city townhouses has increased from $220,000 last year to $235,000 this year. The graph above shows the median sales price in several of…
Trying To Buy A Home... A Story Of Being All In, Then Bowing Out, And Now Being Ready To Jump In Again
This seems to be the story of quite a few folks in Harrisonburg and the surrounding area. Some of these folks graduated from a local college or university in the past…
Sometimes Upgrade Your Home (Selling And Buying) Results In An Even Larger Upgrade In Your Monthly Payment
"Our house isn't working well for us anymore. We are thinking of selling it and buying a new house." Sounds good, but let's look at a few basic numbers first... You…
Checking In On Mortgage Interest Rates
Mortgage interest rates have been declining for the past two weeks... or "plunging" as I saw it described in one news article. Let's put it all in a bit of a larger…
Home Prices Keep Climbing Despite Fewer Home Sales And Rising Inventory Levels
Happy Monday, Friends! Before we get to the real estate news...can we just start by saying... Go Dukes!?! JMU has been on a roll over the past few weeks and months in…
It Seems Likely That Home Buyers Will Have Fewer (Resale) Options In The Next 12 Months Compared To The Past 12 Months
Not be Debbie Downer here but it seems likely that home buyers in Harrisonburg and Rockingham County are likely to have fewer options of homes to purchase in the next 12…
The Higher The Mortgage Interest Rates, The More Perfect A House Must Be For A Buyer
This is a totally made up graph. I don't know how I would actually measure "how perfect a house must be" to a buyer. But I will point out that... 1. When mortgage…
The High(er) Cost Of Money May Slow Down The Start Of Approved Residential Developments
Over the past few years, thousands of potential new housing units have been proposed to be built in the City of Harrisonburg and Rockingham County. Some of these new…
Monthly Housing Payments Are High But Seem Unlikely To Be Lower Over The Next Year
Mortgage interest rates are higher they have been in over 20 years. Home prices are higher than they have ever been. Combine these two factors and you'll find monthly…
The Influence Of Mortgage Interest Rates On Who Will Buy Or Sell
Mortgage interest rates -- and whether they are high, or low, or higher, or lower -- are not the only or even the primary factor affecting any given real estate market…