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Show Your Home Some Love in February

by Desi Sowers

While February is the month with the fewest number of days, one of them is of course Valentine’s Day.

So show some love to your house this month!  Change your furnace filters, restore your tired kitchen cabinets and add some architectural detail to a bland room in need of character.

Show your home some love this month! 

Bob Vila’s 5 ‘Must-Do’ Tasks for February

Encouraging News about the Real Estate Market

by Desi Sowers

 

Encouraging News about the Real Estate Market

  

 

It is about time!  Finally, I am seeing numerous, positive posts about the real estate market!  This is B-I-G news!  December 2011 sales were up nationwide!  I can personally vouch for January 2012 sales in the New River Valley market too.  The outlook is much brighter. Our market is improving and interest rates are unbelievable. How does 3.25% for a 15 year mortgage sound?  Yes, I am pinching myself to see if it is a dream… “ouch!” I can tell you that it is not a dream. Lower than ever mortgage rates are here.  

Click here for a copy of the Virginia Association of Realtors® Fourth Quarter Sales Report http://varealtor.com/news/2012/01/q4-2011-home-sales-steady-as-she-goes.

I am happy to quote the President of VAR, Trish Szego below:

“We are encouraged by the overall numbers shown in the fourth quarter. The pace of home sales is picking up and without artificial stimulus proving that people are taking advantage of low interest rates and low home prices. This upcoming year is an optimistic one for real estate; one in which we hope to see stronger signs of recovery and stabilization,”

Are you trying to make a decision about buying or selling real estate this year?  Let me provide you with real estate sales statistics that help you make the best decision for you and your family.  

 

New Listing - One Level Living in Christiansburg

by Desi Sowers

Pride of ownership is evident in this one owner home quietly situated on 1.33 acres.

Enjoy the quality brick construction and hardwood floors throughout the easy living, one-level floor plan.

Informal dining room welcomes guests and opens to the charming living room with fireplace and door to access the tiered decking.

The efficient kitchen boasts a charming breakfast nook and a bar area for kitchen stools. Beautiful windows, tray ceilings, double garage and full basement - 3BR, 2BA, 1964sqft.  Come See!

Home Prices Rise Second Month in Row, Will Uptick Continue?

Home prices in major U.S. cities increased in May for the second consecutive month, according to a closely watched index, although experts dismissed the uptick as seasonal while separate reports provided fresh evidence of a weak housing market.

The Standard & Poor’s/Case-Shiller index of home prices in 20 metropolitan areas rose 1 percent from April to May when left unadjusted for seasonal variations.

Prices often rise in spring because of changes in the types of homes selling: Foreclosures make up a higher proportion of sales during the winter as families take a break from home shopping and cash-rich investors dominate the market. Higher sales volumes also push up prices.

But compared with May 2010, home prices slid 4.5 percent, according to the index released Tuesday.

“Year-over-year, prices continue to deteriorate, although there has been a seasonal uptick over recent months,” says Stuart Gabriel, director of the Ziman Center for Real Estate at the University of California-Los Angeles. “This reflects a market that continues to be in search of a bottom.”

Chris G. Christopher Jr., an economist with consulting firm IHS Global Insight, said in a research note that the seasonal kick in prices will probably fade by October.

“Things do not look very favorable on the housing front since the employment situation has taken a turn for the worse in May and June,” he wrote. “The unemployment rate now stands at 9.2 percent, and consumer confidence is at depressed levels. Going forward, the Case-Shiller indexes are likely to post increases during the home-buying season, and then turn down again.”

One factor keeping housing weak is the high number of homes in foreclosure or headed into the foreclosure process. Then there’s the stalled jobs market, weak consumer confidence in the economy’s direction and the significant number of people saddled with mortgage debt that exceeds the value of their homes.

A separate report released Tuesday by Santa Ana, Calif., research firm CoreLogic indicated that the nation’s housing market is hampering the broader U.S. economic recovery. The report said that while several temporary factors have contributed to a slowing recovery, including high gas prices, U.S. floods and fading stimulus programs, “fundamentally, the recent slower economic growth illustrates that as the housing market goes, so does the economy.”

Housing influences the economy directly through residential construction, which typically gives a recovery a key boost. But with stiff competition from foreclosures, sales of new homes have been very weak for more than a year.

Displaying blog entries 1-4 of 4

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