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New Listing in Blacksburg

by Desi Sowers

Conveniently located to VT, this rustic yet modern home is filled with special charm.

Exposed beams and interior log walls in the living room are warm and inviting. Large family-sized kitchen offers ample room to move around and has plenty of cabinets and countertop space to make meal prep a breeze!

Main level master bedroom suite is privately located off the living room and boasts bamboo flooring and walk-in closet. Family room is completely functional with a full bathroom and second laundry area; could be a great apartment/in-law suite.

Original owner; first time on market - Come See!

House of the Week

by Desi Sowers
House of the week | Country star LeAnn Rimes selling on King Richards Court
House of the week$6,249,000 | 7bd | 8 full, 3 partial ba | 13,310 sqft 
According to the rumor mills, country crooner LeAnn Rimes is planning a late spring wedding, so she's got to sell her home (once shared with ex-hubby), stat! The old world-style castle spans 5-acres and includes a guest house, infinity pool, theater, wine cellar and safe room. Way too big for two people, if you ask me. But it does seem like the perfect size for a jousting tournament: who's in? 

See more photos & details

Selling Your House? 5 Reasons To Do It NOW!

by Desi Sowers

The conventional wisdom when selling a home has always been to wait until the ‘Spring Buying Season’. Over the years, that has seemed to make sense and is now accepted as a good strategy for those who want to sell their house and receive the best possible price. This real estate market has shattered many previously held beliefs. The wisdom of waiting for a spring market is another belief that is about to fall. Here are five reasons why:

1.) Interest Rates Are On the Rise

Interest rates have spiked up rather dramatically over the last ninety days and are now over 5%. Initially, an increase in rates has a positive effect on the market as it forces buyers off the fence. However, it also eats into a buyer’s purchasing power. As rates increase, the mortgage amount a buyer qualifies for decreases. This will eventually have a negative impact on prices.

2.) Your Dream Home Will Never Be Cheaper

If your family goal is to sell your current house and take advantage of the fabulous selection of properties currently available to buy the home of your dreams, DO IT NOW! Prices will continue to soften in most markets. However, if you are buying, COST should be more important than PRICE. Cost can be dramatically impacted by rising mortgage interest rates. Do the math and decide if now is the time.

3.) Buyers Are Out Early

There is mounting evidence that buyers are coming out earlier this year. A belief that now is a good time to buy coupled with the increase in interest rates has started the buying season early.

Pete Flint, CEO of Trulia:

“We’re seeing a national resurgence of buyer and seller activity on Trulia.com. In January alone, we experienced an unprecedented level of site traffic including 11 million unique visitors – which is more than 70 percent year-over-year growth. We’ve are now experiencing 100,000 property views per minute.”

The National Association of Realtors just reported that the number of house  sales increased 12.9% over last month.

4.) Inventory Increases Every Spring

Every year there is an increase of inventory which comes to market as we approach the spring. Here is the number of listings available for sale in 2010.

  • February – 3,531,000
  • March – 3,626,000
  • April – 4,029,000

I believe there will be an increase in these numbers in 2011 as there is a pent-up selling demand created by the weak market of the last few years. You won’t have to worry about this increasing competition if you sell now.

5.) We Are in the Eye of the Foreclosure Storm

While banks are trying to rectify their foreclosure procedures, there is a large supply of discounted properties which has been delayed coming to market. This inventory will be released sometime in the next few months. Foreclosures sell on average at a 41% discount. When released they will be competing with your house for the buyers in the marketplace. If you are looking to sell in 2011, you want to sell before this inventory becomes your competition.

CNN Money quoted the leadership Of RealtyTrac on this issue:

“We’ve now seen three straight months with fewer than 300,000 properties receiving foreclosure filings, following 20 straight months where the total exceeded 300,000,” said James Saccacio, CEO of RealtyTrac.

“Unfortunately,” he added, “This is less a sign of a robust housing recovery and more a sign that lenders have become bogged down in reviewing procedures, resubmitting paperwork and formulating legal arguments related to accusations ofimproper foreclosure processing.”

“We expect a spike in the first quarter,” said Rick Sharga, a RealtyTrac spokesman.

Bottom Line

These are five strong reasons to sell now instead of waiting until later in the year. Sit down with a local real estate professional today and decide the best options for you and your family.  And as always, I'm here to help!

New Listing - Backs up to Jefferson Natl Forest

by Desi Sowers

<p><span class="expanded_field_value">Gorgeous mountain views surround this  comfortable home nestled adjacent to Jefferson National Forest. </span></p>
<p><span class="expanded_field_value"> Screened by nature,  the property offers a quick commute to Blacksburg,   Salem or Roanoke. </span></p>
<p><span class="expanded_field_value"> Bright and open floor plan,  hardwood floors and  fresh paint are just a few features you will enjoy. </span></p>
<p><span class="expanded_field_value"> Just over 3 acres  offers plenty of room for gardening,  pets and privacy - Come See!   Please View Virtual Tour.</span></p>
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Gorgeous mountain views surround this comfortable home nestled adjacent to Jefferson National Forest.

Screened by nature, the property offers a quick commute to Blacksburg, Salem or Roanoke.

Bright and open floor plan, hardwood floors and fresh paint are just a few features you will enjoy.

Just over 3 acres offers plenty of room for gardening, pets and privacy - Come See! Please View Virtual Tour.

FORECLOSURE - Bank Needs an Offer

by Desi Sowers

BANK FORECLOSURE - Amazing amount of living space.

Master Bedroom on main level, open floor plan with 3 large living spaces, main level laundry, three fireplaces, two decks and plenty of storage space.

Bank Needs an Offer!

Sold as-is where is, all information should be verified to purchaser's satisfaction.

Click Here for Property Details

Claytor Lake - $40,000 Price Reduction

by Desi Sowers

PRICE REDUCED $40,000!!

Enjoy a vacation every weekend at this Claytor Lake home!

Nestled in a clean, quiet, deep cove with over 250 feet of water frontage.

Large mature trees and open grassy areas on the 2.05 acre lot provides plenty of room for sun, play and entertainment.

Cozy cabin is great for those summer getaways or easy access to VT games.

Enjoy the peaceful seclusion while fishing, boating or just plain relaxing.

Come See!

Must See Video - This Month in Real Estate

by Desi Sowers

This Month In Real Estate (US) February 2011

Displaying blog entries 1-7 of 7

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