Impact of Interest Rate Changes on a $250K Home Purchase
Interest rates are increasing. It's not the end of the world, but buying soon will likely be more affordable than buying later..... The payments shown above only reflect…
Sign up for the Harrisonburg Rockingham Emergency Alert System
The City of Harrisonburg-Rockingham County encourages all residents and businesses within the boundaries of Harrisonburg and Rockingham County to provide contact…
Inventory of single family homes shows greater seasonal fluctuations than townhouses, condos
There are more homes for sale in the summer than the winter, right? Well, yes, that is true --- but those shifts in inventory are seen much more so in single family homes…
What actually sold in May 2013?
As previously mentioned, there were a record number of contracts (143) in May 2013. Above, you'll see a break down of the price range where these buyers purchased. Click…
Mortgage interest rates just barely under 4%
Interest rates have increased from 3.35% to 3.98% over the past six weeks. A 30 year fixed mortgage interest rate below 4% is still fantastic (even below 5% is great) but…
Local home prices have still not increased
The pace of home sales are up --- 26% YTD. Contracts are up --- 18% year over year. Inventory is down --- 15% over the past year. But home values are still not yet…
Foreclosures slowing in Harrisonburg, Rockingham County
Based on Jan 1 - May 31 data (78 recorded Trustee Sales) the foreclosure rate seems to be slowing in Harrisonburg and Rockingham County. This is good news for the local…
June 2013 Local Housing Market Report: Sales Increasing, Prices Stable.
I have just released my June 2013 monthly market report covering the Harrisonburg and Rockingham County housing market. Click here to download the full report as a PDF…
143 Contracts Signed in May 2013 (most contracts per month in at least six years!)
I have been tracking contract activity over over six years and I have never seen contract levels this high in a single month. Over the past six years, we never saw any…
Local unemployment levels hit 4.5 year low in April 2013, but....
If the past five years are any indicator, the local unemployment rate will start increasing again in May. As shown above, April has consistently been a low point for…
Lots (lots!) of contracts signed thus far in May 2013
If the first 28 days of May are any indication, our local housing market will be setting new records this month. There have already been 125 contracts signed on…
Low Maintenance Homes at The Glen at Cross Keys Selling Fast
The Glen at Cross Keys, located on Cross Keys Road, just east of Harrisonburg offers mostly one-level living in these low-maintenance homes starting around $265K. The…