One month later, 30 year fixed mortgage interest rates still at 3.58%
Fear not -- cheap money is still available. By that, I mean that the interest you will pay on a new mortgage still remains at record low levels. The current average…
Should I rent or buy a townhouse in Harrisonburg?
Given continued low interest rates and some increase in home values, let's take a new look at the opportunities of buying versus renting. RENT = $1000/m. There are…
Calculating how your mortgage payment will change if you sell and buy
If you will be selling your home to buy another, there are a lot of numbers floating around.... what you'll sell for your closing costs when selling your mortgage payoff…
Mortgage Interest Rates Lower Than Low
Mortgage interest rates have been at an average of 3.85 over the past 12 months. Fantastic, right? But wait, they are currently hovering at 3.58%! Wow! Perhaps this has…
Mortgage Interest Rates Fall (Slightly) Again
Money continues to be cheap. Mortgage money, that is. The average mortgage interest rate fell again (slightly) to 3.71%, after having risen for a few weeks. This is a…
If you bought in X then your house is likely now worth Y
The chart above is calculated based on comparing the 2015 median sales price to the median sales price in each of the prior 15 years. Several key points to take away from…
Local Housing Market Shows Continued Strength in February 2016
Learn more about this month's Featured Property: 120 Cantermill Lane I just published my monthly report on the Harrisonburg and Rockingham County real estate market. Jump…
The Three Main Hurdles when Buying (or Selling) a Home
While every home sale is different -- with unique contingencies based on the needs and situations of the buyer and seller -- there are three main hurdles that most buyers…
Leap Day Special on Mortgage Interest Rates
There seems to be a LEAP DAY SPECIAL on mortgage interest rates -- though the rates are diving down low, as opposed to leaping up high. The current average mortgage…
Understanding your Loan Estimate
As you start shopping around for a mortgage, you should ask each lender for a "Loan Estimate" as shown above. This is a relatively new document that lenders are using…
Now wait a minute, I thought interest rates were rising?
Fear not, interest rate watchers, while mortgage interest rates were on the rise -- climbing up above 4% at the end of December, they have now tumbled back down to 3.79%…
How to buy a foreclosure in Harrisonburg
With some regularity, I am asked by potential purchasers how they would go about buying a foreclosure. First, here is a list of upcoming foreclosure sales, but more…