How Quickly Your Home Will Sell Might Depend On The Price Range
The "Median Days On Market" in Harrisonburg and Rockingham County is six days... that is to say that half of homes go under contract in six or fewer days and half go…
Far Fewer Homes Are Selling, But Sales Prices Keep Rising
Happy Friday Morning, Friends! As per the headline above, far fewer homes are selling this year, but sales prices keep rising. But before we dive into it... First, if…
Do We Care How Many Homes Are Selling, Or More About Their Sales Prices?
Each month I publish a comprehensive report on our local housing market. A few years back, after I published a report showing that sales had risen by _% and prices had…
How Could Housing Market Affordability Be Restored?
Here's an interesting article for your perusal... Morningstar makes a bold call that housing market affordability will be restored by 2025. Here’s how If you can't access…
Contract Activity In June 2023 Was The Slowest It Has Been In A Decade, Much To The Dismay Of Would Be Home Buyers
It remains a tough time to buy a home in many or most price ranges and locations -- with limited resale inventory leading to continued low levels of contract activity. As…
It Is The Beginning Of The End Of Summer When It Comes To Real Estate
Yes, yes, I know... the official first day of summer was June 21st, which was only two weeks ago. But, when it comes to real estate, we're just about at the beginning of…
Contract Activity In The First Half Of 2023 Was... Rather Slow
It's the last day of the first half of the year! Wow! As such, I've taken a moment to look at contract activity in the first half of 2023 as compared to the first half of…
How Quickly Can You Sell A Second Cup Of Lemonade, Or Your House?
Let's say you set up a lemonade stand early on a Saturday morning around 8:00 AM. Before you can even put the last sign up, you have your first customer at 8:04 AM. After…
Existing Home Sales Are Down 19% In 2023. Why?
We've seen a 19% decline in existing home sales in 2023 - which includes all home sales in the HRAR MLS except new construction sales. In the first five months of last…
Monthly Tax Bills in the City of Harrisonburg and Rockingham County Over Time
If you're buying a median priced home in our market (Harrisonburg and Rockingham County) you would be spending $325,000. Will you pay more in property taxes if that house…
Monthly Housing Costs Up 84% In Three Years
Over the past three years... [1] The median sales price has increased by about 10% each year. [2] The average mortgage interest rate has doubled. [3] The City real estate…
If Your Offer Is Competing With Other Offers, You Should Max Out Your Preapproval Letter
A few (4+) years ago, most offers were made without having to compete with another offer. In such as a circumstance, it often made sense to tailor your preapproval letter…