High Buyer Demand Keeps Prices Rising Despite High Interest Rates, But What If...
Between 2019 and 2021 we saw very high levels of buyer demand... and very low mortgage interest rates... which lead to higher and higher sales prices. In 2022 we saw…
Many Home Buyers Now Find They Can Actually Think For A Minute Before Making An Offer
For a few years now, many home buyers in Harrisonburg and Rockingham Countuy have felt the PRESSURE to make a decision QUICKLY after viewing a new listing. Monday, 8:00…
Current Housing Market Trends In Four Lines, Two Curves
I sent out a long and detailed market report yesterday with lots of data, charts and graphs. You can find it here. But maybe you don't want to read something that long…
Slightly Fewer Homes Are Selling At Ever Higher Prices
Happy Monday morning, friends! What a delightfully warm fall we had this year! I hope you have taken advantage of the beautiful weather and explored some of the many…
The Buyer Pool For Starter Townhouses May Be Smaller For Now
Starter townhouses (think two story, 15 - 25 year old) in the City of Harrisonburg used to sell for $150K-ish but have increased in price over the past five years to a…
Where Do Home Prices Go From Here?
This is a question very much on the mind of potential home buyers and potential home sellers in the local real estate market in late 2022... Where DO home prices go from…
Talking Things Through With Multiple Lenders Makes Sense Again
Over the past three or four years mortgage interest rates were sooooo low that there often wasn't too much of a difference in the interest rate quoted by one lender vs…
Engaging With A Lender Continues To Be Essential For Buyers And It Does Not Have To Be Scary
The local real estate market might be slowing down, a touch. For the past year the median "days on market" has been five days... which means that half (or more) homes…
Home Buyers Who Want To Buy A Home In The Next Year Likely Should Not Wait For Mortgage Interest Rates To Come Back Down
If you are looking to buy a home right now you might be surprised by higher mortgage interest rates than we have seen for much of the past year... January = 3.45%…
Income From A Short Term Rental In Your Home Can Make Housing More Affordable
Home prices are higher than they have been anytime in the past decade. Mortgage interest rates are higher than they have been anytime in the past decade. And, thus, for…
If You Will Be Buying A Home In The Next Year, Sooner Might Be Better Than Later
Home prices have increased quite a bit over the past few years. Clearly, that's a bit of an understatement. ;-) Mortgage interest rates have increased drastically…
Harrisonburg Area Home Sales Slowing Slightly But Prices Keep Rising
Happy Thursday afternoon, friends! Fall is upon us... with cool mornings and evenings, but often still reaching pleasant afternoon temperatures... and beautiful colors on…