This month’s REALTOR Magazine is out, and in it is a fascinating article entitled “Overcoming Buyer Reluctance.” We are regularly speaking with home buyers about their wants and needs for a new home, but many times — especially now — they are reluctant to actually go through with a transaction. This article hits the nail on the head in terms of explaining why buyers are feeling this way. A great illustration in the article to allow buyers to visualize the real estate market:

A simple technique to prove to potential buyers, or even sellers, that they can’t perfectly time the market is to do this easy demonstration: Take out a blank sheet of paper and pen. Now, starting at the top of the paper, draw a line going down and at the same time ask the buyers to stop you when the market has bottomed out.

As long as your line keeps going straight down they won’t be able to. The moment you start back up, they’ll say “there!” but of course they missed the bottom. Now, keep drawing your line up while asking them to tell you when the market has peaked. Again, they won’t be able to tell you until you’ve rounded the top and started back down. Then they’ll say “there!” and once again they’ll be behind the peak.

So, once the home buyer understands that he/she can’t time the market perfectly, we can move on to see if that buyer is able, ready, and willing.

If the buyer isn’t able, meaning, he/she doesn’t have financing in place or hasn’t even spoken to a mortgage broker, we send them to speak with one immediately.

Once the buyer is able, are they ready? Our team consults with each buyer to determine their wants and needs for purchasing a home. “It is the ‘why’ that leads them to buy.”

Now we’ve tackled the ability and readiness. Is the buyer willing? No matter how able and ready a buyer is, if he/she isn’t willing, there is no point in trying to find them a home. The buyer needs to be willing to make the decision, to be mentally and emotionally willing to take that plunge (for lack of a better term).

Buyers, are you able, ready, and willing to purchase a home? We can’t tell you enough how great of a time it is to buy right now. Interest rates are low, sellers are willing to bargain (sometimes a lot, sometimes a little), there are lots of properties on the market to choose from, there are even some great loan programs available, especially for first-time home buyers. Give us a call to get started on your home search!

Yesterday at Heritage Oaks Golf Course, which is owned and run by the City of Harrisonburg, Harman Construction broke ground for a new golf center for The First Tee. The First Tee is a national, non-profit program for youth to not only build upon their golf skills, but also their confidence, social skills, and character. This new learning center is expected to open in May.

While it’s open to the public, the more than 200 members of The First Tee at Heritage Oaks are expected to be the primary users of the 4,200-square-foot building being constructed near the course’s pro shop.

Read more about this project here.

Looking for housing near this golf course? Check out homes for sale in Heritage Estates (a 55+ community that borders Heritage Oaks), Hampshire Estates, and Parklawn.

One of the first things a home buyer must do is line up homeowners insurance for their new home. I used to work in the Business Development Department of Rockingham Group, a local insurance company. I learned that many people don’t know much about insurance — especially homeowners insurance. So a brief rundown of the basics is in order.

1. First, the basic structure of a homeowners insurance policy is this: a section each for the home’s structure(s), its contents, and liability. If you are a renter, you should really get renter’s insurance to cover your belongings in case of a disaster, like a fire or flood.
2. Second, what is covered in the policy? Typical homeowners insurance policies cover damage to your home’s structure and your personal property caused by: fire or lightning, windstorm or hail, explosions, riot or civil commotion, aircraft, vehicles, smoke, theft or vandalism, falling objects, weight of ice, snow or sleet, or freezing of household systems. (Note: all policies are different and can be customized. Call your insurance agent to make sure you are covered under these circumstances.)
3. Third, keep in mind that some things are NOT covered. Flood and earthquake insurance needs to be purchased separately. There could also be exclusions in your policy, so check your insurance packet for that information. (Usually it is kept as a separate section toward the back of the packet.)
4. Fourth, ask yourself the basic questions: If my pipes freeze and burst this winter, am I covered? If a tree falls on my house, am I covered? If my entire house and all of my belongings burn, am I covered? If that happens, where will I go? What will I do? Call your insurance agent/company and find out the answers to these questions. It is better to know in advance of any possible damages what can occur and make sure you have enough coverage to allow you to recover from any losses.

Here are some very helpful articles regarding the basics of homeowners insurance: Homeowners Insurance 101 by This Old House, and Does Your Home Insurance Keep You Covered? by RIS Media.

If you are in need of an insurance agent, let us know. We can point you in the direction of some great local agents.

Due to the slow real estate market, I get a LOT of phone calls, emails, and inquiries through our website from people who are looking for a home to rent. Our team typically does not broker leases between owners and renters — however, I want to help when someone contacts me. So I’ve put together a list of good online sources for rentals in the Harrisonburg area:

1. The Daily News-Record (in case you have not moved to the area yet, the DNR is the major newspaper)

2. Two brokerages that almost exclusively practice property management: Mountain Valley Management and Riner Rentals.

3. Harrisonburg’s Craigslist page (look under the “housing” section)

4. The e-classifieds page of Eastern Mennonite University

-written by Lisa Oates- As the Marketing Director for The Harrisonburg Homes Team, it is one of my responsibilities to get our team name out to consumers. So, to show you some of our efforts, I wanted to let you know where you can find us online, and of course, give you an invitation to join us! We’d like to keep our faithful clients, friends, and fans up to date with what we’re doing, and how we’re doing it.

Friend Us on Facebook. You’ve probably heard of Facebook, but just in case you haven’t, it is a glorious social networking platform on the web that allows folks to connect with one another on a whole new scale. Find friends from back in the day, become fans of your favorite products or services, share photos/videos/links, join groups, create events, the list goes on. Our team has a page, a group, and a blog (in the Facebook Blog Network). Check us out (and feel free to join us) in all three!

Follow Us on Twitter. Twitter is micro-blog of sorts. It allows you to follow updates by members of your choice, and allows other members to follow your updates. As a member of Twitter, we can have our blog entries automatically “fed” to all Twitter members that are following us. To follow us on Twitter, click here.

Our team’s online presence grows regularly, so keep an eye out for us on the web. And if you see us in person — or on the shopping carts at Martin’s Grocery Store in Harrisonburg — give us a wave and a smile, too!

The National Association of REALTORS (NAR) surveys home buyers and sellers on an annual basis, and they have published their findings for 2008. Here is a glimpse at the type of folks buying:

• Married Couples: 61%
• Single Women: 20%
• Single Men: 10%
• Unmarried Couples: 7%
• Other: 2%

• Compared to the past 5 surveys, first-time home buyers accounted for a larger portion of the market share of home purchases (the highest since 2001).
• The share of first-time home buyers has steadily increased since 2006.
• The “typical” first-time buyer was 30 years old.
• The “typical” repeat buyer was 47 years old.

For more information about home buyers and their profiles, read this article from the NAR. It provides interesting information, like what home buyers bought, how they searched for properties, and the role of real estate professionals in their transactions.

Interest rates are low right now… really low. So, is now a good time to refinance your home mortgage? Here are some things you’ll need in order to qualify. Note: To know for certain, talk to your mortgage broker. He or she can give you the facts about your specific situation.

• Impeccable credit is always a great asset. You’ll need a very good credit score — like 720 and above — in order to qualify for refinancing at a new low interest rate.
• You’ll need a lot of equity already built into your home. Most mortgage lenders are not able to help you with refinancing unless you have at least 10% - 20% of equity.
• If your mortgage exceeds the value of your home, you likely will not qualify

For more information about refinancing, check out this article published by the New York Times. It gives some good insight into the qualifications of refinancing. Another good web reference is this Essential Refinancing Guide. It answers pretty much every question you could possibly ask when it comes to refinancing.

If you don’t have a mortgage broker and would like to speak with one, we have some that come highly recommended. Give us a call or shoot us an email and we’ll be glad to help you out!

Although Harrisonburg is a great place to live, it is always a good idea to get away for a weekend here and there throughout the year. Harrisonburg is within driving distance of many fabulous get-aways, so pack your bag, hop in the car, and drive a couple of hours to one of these destinations:

• Thomas Jefferson’s Monticello: The Commonwealth of Virginia is overflowing with history. Thomas Jefferson, the 3rd President of the United States and founder of the University of Virginia, lived in a huge mansion with immaculate gardens surrounding all sides. His home was perched on a hill and boasts amazing views. A special treat for those visiting throughout December… there are holiday evening tours! Visit Monticello (a quick one hour drive from Harrisonburg), take a tour, stroll the grounds, shop in the gift shop, and then head on over to the Mitchie Tavern for a cold brew. For more information, visit the Monticello website.

Jefferson's Monticello

• Williamsburg: Williamsburg is packed with Colonial history! A 2 1/2 hour drive from Harrisonburg, Williamsburg offers museums, attractions (like Busch Gardens), shopping, a variety of great dining choices, and guided tours of historic Jamestown, historic Yorktown, and Colonial Williamsburg. You might need to visit twice to get it all in! For more information, visit the official Williamsburg website.

• Bryce Resort: If you want outdoor attractions, this is the place to go for a weekend! Bryce Resort is a 45 minute drive from Harrisonburg, located Northeast of Harrisonburg and very close to the West Virginia border in Basye, Virginia. This resort offers snow sports, golf, rock climbing, hiking, fishing, and so much more. Enjoy the beauty of the Shenandoah Valley for your weekend get-away at Bryce Resort. For more information, visit Bryce Resort’s website.

• Homestead Resort: Fine dining, luxurious living, and a touch of history make The Homestead a great place to visit for a few days. This resort offers a spa experience, golf, tennis, and special holiday packages. The Homestead is located in Hot Springs, Virginia, which is just under 2 hours from Harrisonburg. For more information, visit The Homestead’s website.

• Washington, DC: Head North to Washington, DC, our nation’s capitol. We have a beautiful capitol city and it is jam-packed with things to do and see. Visit all the monuments and Smithsonian museums, Arlington National Cemetery, The White House, and listen to some local music at one of several clubs located downtown. The eateries range in price and style, so pick your favorite, and you will be sure to enjoy your entire stay in Washington, DC. For more information, visit Washington’s website.

Capitol Building in Washington, DC

• Potomac Highlands of West Virginia: This area of West Virginia is filled with activities for all ages. Enjoy winter games, views from a train car, biking, hiking, rock climbing, skiing, golf, the list goes on. Relish the outdoors in this gorgeous environment. To make it a cozy experience, stay at a bed and breakfast and go on a wine tour. For more information, visit West Virginia’s website.

Let’s just state the obvious: the economy is in (or close to) a depression. So, how can we stay positive — especially about the real estate market — in this negative economic climate? It seems too unstable to be really confident in buying or selling, but things aren’t always what they seem.

The Wall Street Journal reported earlier today that smaller mortgage lenders see opportunity in turmoil. Large mortgage companies have seen downturns of up to 72%, but for some lenders, like US Bancorp, these large corporations’ sufferings cause profitability. A direct quote from the above mentioned article:

"With larger lenders now preoccupied with cleaning up the mess left when the housing bubble burst, the fact that other institutions are revving up their mortgage lending could help consumers who have had trouble finding anyone willing to lend."

As for investing in real estate, now is a great time to buy! Prices and interest rates are low, and if you can get financing, buy now. Values can only increase from a low economic situation such as this. Purchasing real estate increases your assets. Leasing is a great option these days. Buy low, turn around and lease the property, and get instant mailbox money! That sounds pretty positive to me.

Finally, when you are in a personal crisis, what do you do? Do you get angry? Do you hide out for a while and sit quietly by yourself? Do you talk it out with a close friend? We all deal with bad situations in different ways. One great way to stay positive in a tough situation is to see these threats as opportunities. (Remember, all you business majors out there, the SWOT method? Strengths, Weaknesses, Opportunities, Threats!) Our President Elect, Barack Obama, has a big task ahead of him. This quote is splashed across the page of his website:

"I’m asking you to believe. Not just in my ability to bring out real change in Washington … I’m asking you to believe in yours."

Mark your calendars and kick off this holiday season with some joyful fun! This Friday, December 5th at 7:00 PM, head on over to Court Square to experience the annual Holidays on Main Street event. The festive weekend will start with a holiday parade. The festivities will continue on Saturday with carriage rides, the official tree lighting ceremony, hot cocoa and holiday treats for sale, and visits with Santa. A movie — The Grinch Who Stole Christmas — will be playing on an outdoor screen, and music will be playing to enhance the experience.

A new event on the list for this holiday weekend is the Holiday Home Tour, a self-guided home tour of four of downtown’s finest homes. If you are interested in touring, go to the Hardesty-Higgins House between 1:00 PM - 5:00 PM on Sunday, December 7.

Downtown Harrisonburg is a place filled with history, shopping, dining, and local businesses. It carries a wonderful ambiance. When visiting, it feels like you are in a different world, so here are some good reasons for not just visiting, but frequenting Downtown Harrisonburg.

• Shops: There are many local retail shops in Downtown Harrisonburg. You can find anything from vintage clothing, to books, to jewelry, to art, to flowers… the list goes on! For a full list of Downtown shops, click here.
• Restaurants: Eating is one of Harrisonburg’s favorite things to do. Step Downtown one evening and find folks dining in every restaurant — on the rooftop at Dave’s Taverna or sitting cozy in the Earth&Tea Cafe, or drinking a homemade brew at Cally’s Restaurant and Brewery. Find any type of cuisine on any budget. It will take more than one visit to enjoy all the tastes of Downtown Harrisonburg. For a full list of Downtown restaurants, click here.
• Rejuvenation Project: If you’ve visited Downtown Harrisonburg recently, you’ve noticed it undergoing some renovation. After a meeting in September to discuss the vision for the project, this construction began. Eddie Bumbaugh, Harrisonburg Downtown Renaissance Executive Director, says, “Every downtown changes over time – some in a positive direction and some move backward – some with a plan for the future and some without an overall vision.” Harrisonburg is moving in a positive direction to achieve growth and stability. Visit often to truly appreciate the beauty that is Downtown Harrisonburg.
• Local Businesses: Many locals have started their businesses in (or moved their businesses to) Downtown Harrisonburg. Help the local economy by frequenting these locally owned establishments. The farmer’s market is a great place to buy local produce and hand-crafted goods. Other locally owned businesses are You Made It! Pottery Studio, OASIS Gallery, Downtown Wine & Gourmet, Glen’s Fair Price, and La De Da.
• History: It only takes a few seconds to realize that once you step Downtown, you are in a historical spot. Court Square was originally a two and a half acre piece of land owned by Thomas Harrison. In 1779, he deeded that land to the city. A year later, 50 more acres were deeded to the city and because of that transaction, Harrisonburg was considered the county seat. Downtown Harrisonburg has been around for centuries, and is still thriving! Isn’t that reason enough to visit, and visit often? For the full history of Harrisonburg, click here.

Hmmm… I’m feeling a bit like eating a plate of Biryani at the Indian & American Cafe for lunch. Anyone want to join me?

There are two obvious reasons for going green: (1) save money and (2) save our planet. However, the how and why are probably more important topics to discuss, so I’ve put together a short list of ways that you can go green this holiday season.

• Holiday Lights: LED lights used to be inefficient and wouldn’t produce much light. Nowadays, though, LED lights are bright, consume less energy than standard string lights, and can also be found in different shapes to add spice to your holiday decor. Oh, and don’t wait for these to go on sale in stores. They are usually the first holiday item to leave the shelves! Looking for LED string lights? Click here.
• Shopping: shopping is a large part of the holiday experience. Many enjoy it, and many don’t. Whichever category you fit into, it will be a bit more pleasant if you help save the environment. Instead of using plastic bags, bring your own bags. Tote bags are great for gathering items (and are stylish to boot!), but if you don’t already have some, you can purchase bags at many stores… usually for about $1. It is a small price to pay to protect the planet. Plus, you can reuse them all year long!
• Table Settings: Setting the table for the holidays doesn’t have to cause anxiety. If you like to keep it simple and use disposable materials, you can still stay environment friendly. Check paper products before purchasing to make sure that they carry the “Green Seal.” Also, if you use disposable dinnerware, buy the kind that won’t clog landfills or kill trees. Some new products are made from corn, potatoes and limestone and cost less than six cents per plate.
• Gifts and Packaging: Look at the product packaging of that gift before you buy it. Try to stick with products that use the least amount of excess packaging. It will cut down on trash that enters the landfills. As for wrapping those gifts, get creative! Use materials you have around the house, like pages from magazines, old newspapers, or old greeting cards for wrapping paper. Send tissue paper through a strip-cut paper shredder to make fancy ribbon without having to buy extra ribbon. If you must purchase wrapping paper, find paper that is made from recycled paper.
• Greeting Cards: If you send greeting cards, look for ones made from recycled materials. Consider sending greeting cards by email, making a phone call or make a donation to a charity in lieu of sending cards.
• Cleaning: when cleaning your home for accommodating those holiday guests, be sure to check labels on cleaning supplies before purchasing. There are harsh chemicals in many cleaning supplies that can be quite harmful. Look for products that are made from plant sources rather than petroleum. You can also create your own cleaners by using baking soda, vinegar, and soap. For more ideas on cleaning “green,” click here.

Have more ideas for going green during the holidays? Put your suggestions in the comments field!

If you are not behind on your mortgage payments, but are close to falling behind, there may be hope for you, too! The article referenced above outlines this plan as well.

Selling an existing home is what many folks worry about these days, knowing they probably won’t get top dollar for their listing. However, first-time home buyers do not have an existing home to worry about, so the number of sales for this group is on the rise. It only makes sense because now is a fantastic time to buy, there are some great first-time buyer programs available, and if you need not worry about ensuring a sale from your current home, why not buy?

MSNBC recently published an article reviewing survey results about first-time home buyer trends. Click here to read up on the details. Pretty interesting stuff!