Update on Housing Supply - June 2008
This is an illustration of the relationship between our market’s supply and demand in four price ranges. The numbers (7, 11, 14, 26) represent the months of supply of…
Is there a price at which you would buy this home?
Back in February '08, I wrote about buyer and seller perspectives on our real estate market, and pointed out that many buyers are bashful right now. They will look at…
Slower Market Gives Buyers Time To Evaluate
My column from the May issue of the Shenandoah Valley Business Journal... Between 2003 and 2006, buyers were stumbling over themselves to buy real estate – it was a fast…
Do Realtors Make Huge Profits On Home Sales?
Josh posed the question of whether Realtors make extraordinary profits on home sales, and suggested I shed some light on the matter. I'd be happy to do so --- and I'll…
Trends in Harrisonburg Housing Supply
For some time now, I have provided monthly updates on the months of supply of housing available in four price ranges. (see May's update) Per Andy's request, I will now…
Searching For A Home Online --- Which Web Site To Use!?!
In a comment on a recent blog post, Josh stated: "So when I was searching for my place, I rarely used realtor's websites.I stuck to hrar and realtor.com. Do most of your…
How To Draw More People To An Open House (I hope)
As I discussed a few weeks ago, the value of an open house is often unknown (and perhaps questionable) to home owners, and the Realtors representing them. But at the same…
Housing Supply & Demand - May 2008
This is an illustration of the relationship between our market’s supplyand demand in four price ranges. The numbers (6, 11, 14, 25) representthe months of supply of…
Wall Street Journal: "The Housing Crisis Is Over"
Yesterday (May 6, 2008), the Wall Street Journal ran an opinion piece entited "The Housing Crisis Is Over" --- as you can imagine, I was a bit surprised to see the…
Harrisonburg Single-Property Cap Rates
Cap rates vary over time, as market conditions change. Here is a brief analysis of current cap rates for single properties in the Harrisonburg area as of May 2008. 1337…
The Effectivness (?) Of Open Houses
I am having an open house today (May 4, 2008, 1:00-3:00) for one of the properties that I am marketing, a 5-bedroom, 3.5 bath colonial with 3,796 SF priced at $469,000…
Looking Back at Virginia's First Quarter Home Sales
The Virginia Association of Realtors recently released their First Quarter 2008 housing market report, entitled "The Virginia Housing Market in Uncertain Times." Their…