It seems the Federal Reserve has hit upon a plan that will actually work. Yesterday, based on the news that the Fed will buy $600 Billion of bad loans from banks (as opposed to bank stock) mortgae rates dropped from a national average of 6.38% to 5.5%! This is a monumental drop in rates that will no doubt spur activity in the housing market. If you are interested in more detail, check out this article from Bloomberg News....
Locally, rates in the Shenandoah Valley are wonderfully low, making this an even better time to buy a home. Low prices, lots of inventory (which means lots of choices for buyers!) and fantastic rates like 5.625% at BB&T, according to local lender Peggy Halbrook, should be very encouraging to anyone looking to buy a home in Harrisonburg or Rockingham County. According to Peggy, "Rates have dropped to the upper 5% range, and 100% financing is available at a 5.75%" making this a great time to "make your move" on a new home.
If you are one of those folks looking for a home, this long holiday weekend will be a great time to do some shopping. Happy house hunting, and a very happy Thanksgiving to all!
Posted Wednesday, November 26, 2008 by
Karl Waizecker
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Posted Thursday, November 20, 2008 by
Chris Rooker
I recently read this article entitled "The Secret to Avoiding a Bad Investment in the Current Real Estate Market." To summarize, this article describes where to buy the best real estate and what to look for in a great investment property.
Places like California, Florida, and Arizona were building new homes at an extremely rapid pace a few years ago, and prices skyrocketed at the same pace. Now those markets are going through some tough times.
However, the Virginia real estate market did not experience that same rapid growth. Growth, yes, but not at such a rapid pace that we could not keep up. Now, the Virginia market, and Shenandoah Valley and Harrisonburg real estate in particular, is healthy, and growing stronger every day. Call us to find investment property in the Harrisonburg area!
Places like California, Florida, and Arizona were building new homes at an extremely rapid pace a few years ago, and prices skyrocketed at the same pace. Now those markets are going through some tough times.
However, the Virginia real estate market did not experience that same rapid growth. Growth, yes, but not at such a rapid pace that we could not keep up. Now, the Virginia market, and Shenandoah Valley and Harrisonburg real estate in particular, is healthy, and growing stronger every day. Call us to find investment property in the Harrisonburg area!
Posted Thursday, November 20, 2008 by
Chris Rooker
When moving to a new area, it is sometimes difficult for folks to get "plugged in." Finding a home is key, but there are other things to consider as well, like finding a job, finding the right neighborhood to live in, finding schools for your children, and of course, finding entertainment, shopping, and restaurants to suit your lifestyle!
My real estate team, The Harrisonburg Homes Team, specializes in relocation services for our clients. We have spent a lot of time putting together a quality guide for those relocating to the Harrisonburg and Rockingham County area. You can read the online guide here.
Harrisonburg real estate is in recovery mode. In 2005, the local real estate market, like many other markets across the nation, was booming. Homes literally sat on the market for a day before going under contract! Since then, the Harrisonburg real estate market has gone into "recession" and is now recovering. Sometime in the (hopefully) not so distant future, this market will be booming again...
So if you are relocating to this area, call our team. We'd love to help you find the perfect home in the perfect location for you. And if you've already moved here, welcome to Harrisonburg!
My real estate team, The Harrisonburg Homes Team, specializes in relocation services for our clients. We have spent a lot of time putting together a quality guide for those relocating to the Harrisonburg and Rockingham County area. You can read the online guide here.
Harrisonburg real estate is in recovery mode. In 2005, the local real estate market, like many other markets across the nation, was booming. Homes literally sat on the market for a day before going under contract! Since then, the Harrisonburg real estate market has gone into "recession" and is now recovering. Sometime in the (hopefully) not so distant future, this market will be booming again...
So if you are relocating to this area, call our team. We'd love to help you find the perfect home in the perfect location for you. And if you've already moved here, welcome to Harrisonburg!
Posted Thursday, October 9, 2008 by
Chris Rooker
Harrisonburg real estate and Rockingham County real estate isn’t as bleak as the economy may suggest! Check out a recent story from WHSV (Harrisonburg's local TV station) regarding this very subject.
Many sellers are still lowering prices on their homes to get them sold, and often are willing to negotiate with buyers. Home buyers are often able to get more “bang for their buck” because of the housing prices and lower mortgage rates. We can’t say it enough these days… Now is the time to buy!
Posted Monday, September 22, 2008 by
Chris Rooker
This is my first blog post here on the new Kline May blog. Although I have been blogging for a few years now, it is always exciting to post a fresh entry to a brand new blog. I think of new things to come, great beginnings and opportunities... sort of like the first day of school each year. Something amazing is going to happen with this blog, and I'm proud to be a part of it!
I'll typically be posting about Harrisonburg market trends, current listings, why you should work with Kline May in your real estate needs, and will also be adding photos and videos along the way. My real estate team (The Harrisonburg Homes Team) works hard to provide our clients with quality relocation services, too, so I'll be writing about events and new restaurants, shops, etc. in the Harrisonburg area as well.
So stay tuned for future blog posts by me, my team, and others at Kline May Realty! We look forward to serving you with your real estate needs...
I'll typically be posting about Harrisonburg market trends, current listings, why you should work with Kline May in your real estate needs, and will also be adding photos and videos along the way. My real estate team (The Harrisonburg Homes Team) works hard to provide our clients with quality relocation services, too, so I'll be writing about events and new restaurants, shops, etc. in the Harrisonburg area as well.
So stay tuned for future blog posts by me, my team, and others at Kline May Realty! We look forward to serving you with your real estate needs...
