Is FOMO Fueling Rising Home Prices?
The Federal Reserve Bank of Dallas indicates that there are signs of a brewing housing bubble... and FOMO (fear of missing out) might be a contributing factor. You'll…
Real Estate Tax Rates Moving Up and Down
Rockingham County - tax rate down 8% The Rockingham County real estate tax rate is currently $0.74 per $100 of asssessed value, but the Board of Supervisors just approved…
Current Mortgage Interest Rates in the Context of the Past Decade
Mortgage interest rates keep on rising. The graph above shows the average mortgage interest rate over the past decade. Periods of Green = 3._% (somewhere between 3% and…
More Contracts Were Signed In March 2022 Than In Any Month In The Past Decade
Wow! I knew that a lot of homes went under contract last month when I compiled my market report but I hadn't yet put it in a larger context. During March 2022, contracts…
Home Sales Slow Slightly, Prices Still Climbing Quickly!
Happy Tuesday morning, friends! I hope you are enjoying the warmer weather this week, and perhaps some sporting events! We have a baseball player and a runner here in our…
If Higher Mortgage Interest Rates Will Cause The Market To Shift, It Does Not Seem To Be Happening Yet
In theory, as mortgage interest rates increase, some buyers will be priced out of considering some homes that they would like to purchase. If enough buyers are priced out…
Do Not Despair, More Homes Will Be Listed For Sale Soon!
If you're hoping to buy a home in the Harrisonburg area it can seem challenging to buy a home right now. After all, you might decide you want to buy a home in the Keister…
Home Buyers Who Buy Houses Without A Home Inspection Should Do One After Closing!
On many, many, recent offers on properties I have listed for sale buyers have not been including home inspection contingencies. This seems, in many circumstances, to be…
Many Home Sellers Are Enjoying Working Through Far Fewer Contract Contingencies
I used to tell home sellers that they should expect to that we'll be working through three large, major, serious contingencies between the time that their house is under…
Rising Mortgage Interest Rates Are Causing Some Would Be Home Buyers To Adjust Their Target Purchase Price
Have you heard? Interest rates are on the rise. In early January, the average mortgage interest rate was 3.22% on a 30 year fixed rate mortgage. Last week, the average…
Will Inventory Levels (of resale homes) Increase At All This Spring?
Many homeowners thinking about selling their homes this spring are considering selling sooner rather than later... because of the super low inventory levels right now…
Harrisonburg Redevelopment and Housing Authority in Planning Stages of a 1,000 Unit Housing Development Across From Harrisonburg High School
Specific details are still relatively limited, but the Harrisonburg Redevelopment and Housing Authority is planning a LARGE development on land that stretches from…