Missed Another Resale Home? Maybe Build A Home Instead?
An age-old question is whether to buy a re-sale home or build a new home, especially as your price range gets above $500K or $600K. Typically, the tension between buying…
Average 30 Year Mortgage Interest Rate Rises Almost A Full Percentage Point In A Year
About a year ago, on February 11, 2021, the average 30 year fixed mortgage interest rate was 2.73%. A few days ago, on February 10, 2022, the average rate was 3.69%. So…
Slightly Fewer Home Sales, Much Higher Sales Prices In January 2022
Happy Snowy Monday Morning! This is my favorite kind of snow... beautiful everywhere... but not sticking to the road... I hope you stayed warm inside yesterday and that…
What To Do If You Want To Buy A House But Are Discouraged By Current Offerings
Are you trying to buy a house? Are you discouraged by seeing very few options on the market for sale right now? Here are some action items... [1] Be encouraged to know…
74% of Homes Sold for Full Price or Higher in the Past 12 Months!
A somewhat shockingly high number of homes sold at or above asking price over the past year... 44% of buyers paid more than the asking price for the home they purchased…
Will Home Prices Drop As Mortgage Interest Rates Rise?
Question... Will Home Prices Drop As Mortgage Interest Rates Rise? Short Answer... I don't think so Long Answer... Above you'll find a graph showing the median sales…
If Your Lease Ends This Summer, Start Looking For A Home To Buy Now!
If you have a lease ending this summer and you are thinking about buying a home instead of renewing that lease, you might think you have PLENTY of time before you need to…
Buying A Home Today Might Feel Like Mostly Waiting Around
In days gone by, when you decided to buy a home, you would talk to a lender to get pre-qualified and then you would start going to view homes that were currently on the…
Wow! Yes, You Read That Correctly, Local Home Prices Increased 40% In Five Years
The median sales price five years ago (2016) was $192,500. Last year, five years later, it was $270,000. That's a 40% increase in the median sales price over five years!…
Only About Half of Home Buyers In The City Of Harrisonburg Buy Single Family Homes
Yesterday I observed that about two thirds of home buyers in our area (City of Harrisonburg plus Rockingham County) buy single family homes each year. In the City alone…
Two Thirds of Buyers Purchased Single Family Homes Last Year in Harrisonburg, Rockingham County
Last year (2021) two thirds of buyers purchased detached single family homes in Harrisonburg and Rockingham County. The other third of home buyers bought townhouses…
2021 Year In Review in the Harrisonburg Area Real Estate Market
Happy New Year, Friends! I hope you had a delightful, relaxing, fun and healthy holiday season and New Year celebration. Today I am coming to you with a "year in review"…