Is Your Escalation Clause Working The Way You Think It Will?
If you are making an offer on a house in 2022 there is a decent chance there will be other offers on the property as well. As such, you may find yourself considering the…
Lots Of Home Buyers Are Still Competing For New Listings
For many new listings, the competition is still quite fierce in Harrisonburg and Rockingham County. Here are three recent examples I've been involved with or heard of in…
Timing The Sale Of Your Rental Property
Do you own a property in Harrisonburg occupied by a tenant? When you are ready to sell it, how will you go about that process? In the past, many landlords would try to…
Yes, This Is A Great Time To Sell Your Townhouse, or Duplex, In Harrisonburg!
Over the past six months, there have been 90 townhouse sales in the City of Harrisonburg. That's about 15 sales per month. Of those 90 townhouses, 55 of them went under…
Home Buyers Just Entering The Market Should Despair, Then Rejoice
Blue Line = Despair Orange Line = Rejoice As any buyer in today's market will tell you... there is very little on the market to buy right now. That's the blue line. Over…
Each Year, 10% - 15% Of Home Buyers Pay Cash In Harrisonburg, Rockingham County
How often are home buyers paying cash for their homes in this area? It seems between 10% and 15% of home buyers are doing so each year according to data from the HRAR…
12 Million Dollar Sales In The Past 12 Months
There have been (12) million dollar home sales over the past (12) months in Harrisonburg and Rockingham County as recorded in the HRAR MLS. For context, here ... Past 12…
New Homes are an Increasing Share of Total Home Sales in the Harrisonburg Area
First, some raw data... Resale Home Sales: 2017 = 1,113 2018 = 1,145 2019 = 1,157 2020 = 1,290 2021 = 1,359 So, there have been more and more resale homes selling over…
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…
200 Home Buyers Paid More Than 5% Over Asking Price For Their Homes In The Past Year
Sometimes, you have to be willing to pay the price to get the house... Over the past year-ish (Feb 7, 2021 - Feb 6, 2022) there have been 1,660 home sales in Harrisonburg…
The Value Of Writing A Fake Offer To Buy A House
OK, OK, don't get too excited -- I'm not suggesting you actually MAKE a fake offer on a house... just WRITE the offer. ;-) ...and here's why... As we roll into March and…