Where have all the buyers gone?
Each month I post a graphical representation of Harrisonburg and Rockingham County home sales within the context of the prior five years. (2003-2008) My monthly home…
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…
Buying A Foreclosure Property Before The Sale
Can it be done? YES! Is it easy and fun? NO! Properties in Harrisonburg and Rockingham County that are being foreclosed on are almost always advertised in the Daily News…
Should High Gas Costs Drive Buyer Behavior?
This was an interesting question posed by a friend a few weeks ago, and we took some time to do some rough analysis, which seemed to indicate NO. Here's the logic…
Getting Ready To Buy -- Loan Pre-qualification
In almost all circumstances, buyers should pre-qualify for a mortgage before starting to look for a home. What is pre-qualification? In short, it means providing basic…
Change Is Here . . . We Must Adapt!
There are quite a few local and national changes occurring right now that greatly affect buyers and sellers. Let’s contemplate how we must prepare and adjust. Slower Home…
(False) News Alert - 20% Down Payment Required
If you read this past Friday's Daily News Record article entitled "National Trend Local, Too", you might think home buying is in your distant future. The article states…
Do Buyer Incentives Encourage A Sale?
Many sellers think so.....but I rarely meet buyers who think so. You have likely heard of incentives that sellers offer buyers, such as: seller to pay up to $3,000 of…
Rent To Own --- Balancing the Risks and Benefits . . .
Housing supply in Harrisonburg and Rockingham County is high in many price ranges, and has been for many months now. As a result, some sellers are anxious to sell their…
100% Financing (and then some) From A Local Lender
A few weeks ago I was lamenting the fact that 100% finance seemed to be sailing out to sea --- never to be available again for first-time buyers (or otherwise). However…
NPR Is Right On --- The Potential Real Estate Standoff
Perhaps Jonathan Clements, a personal finance columnist at The Wall Street Journal, has been reading my blog? Unlikely, however he speaks of a possible real estate…
PMI -- Is It Good, or Evil??
I am frequently asked whether PMI (private mortgage insurance) is a good thing, or something to avoid. To start with --- private mortgage insurance is an insurance policy…