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Own Your Own Private Getaway on 45 Acres

by Desi Sowers

 

Rockin' Chair View

Panoramic scenes are the norm from every living space of this charming home.

Own your own mountain of 45 acres conveniently located just 10 miles to downtown Blacksburg or 20 miles to Roanoke.

Home has recently been totally renovated and boasts beautiful flooring, skylights and walls of windows to take in the views of Catawba Valley.

Enjoy relaxing on the gorgeous covered porch, hiking, mountain biking or 4 wheeling - this home will be your private retreat from the hustle and bustle!

Mortgage Rates Drop Sharply for the Week

by Desi Sowers

Mortgage rates dropped sharply last week, possibly improving the purchasing power of many home buyers.

The 30-year fixed-rate mortgage, the most popular choice among buyers, averaged 4.39 percent this week, its lowest average for 2011, Freddie Mac reported in its weekly mortgage market survey. The 15-year fixed-rate mortgage and the 5-year adjustable rate-mortgage also both reached new historical record lows.

Rates mostly dropped across the board amid signs of a weakening economy, Freddie Mac says. "Treasury bond yields fell markedly after signs the economy was weaker than what markets had previously thought allowing fixed mortgage rates to follow this week with the 15-year fixed and 5-year ARM setting new historical lows,” says Frank Nothaft, chief economist at Freddie Mac.

Nothaft also noted some improvement in the housing market, however. "There were indications that the housing market is firming,” he says. 

Here’s a closer look at rates for the week ending Aug. 4:

30-year fixed-rate mortgages: averaged 4.39 percent, down from last week’s 4.55 percent average. A year ago at this time, 30-year rates averaged 4.49 percent.

15-year fixed-rate mortgages: averaged 3.54 percent, dropping from last week’s 3.66 percent average.Last year at this time, 15-year rates averaged 3.95 percent.

5-year adjustable-rate mortgages: averaged 3.18 percent this week, falling from last week’s 3.25 percent average. Last year at this time, 5-year ARMs averaged 3.63 percent.

1-year adjustable-rate mortgages: were the only ones on the rise last week, averaging 3.02 percent this week, which is up from last week’s 2.95 percent average. Last year at the time, 1-year ARMs averaged 3.55 percent.

I'm happy to put you in touch was a local mortgage lender if you would like to discuss interest rates and how they will effect your buying power.

The "Big Six" Home Selling Factors

by Desi Sowers

Although they can be stated in different ways there are only six factors that affect the sale of a home.


It is important for you, as the seller, to understand who or what has control over them and how they impact on each other.

  • You control 3 of the 6
  • The Market controls 2 of the 6
  • Your REALTOR® controls 1 of the 6

YOU Control

1. Price - You determine list price for your home. However, a list price above the market for homes similar to yours will impact negatively on buyer interest in making an offer. Your REALTOR® will review price history with you to assist you in making a list price determination.

2. Terms - Buyers have requirements just as sellers do. Your willingness to respect them and be willing to negotiate which terms will be acceptable to both parties can have a very positive impact. Price and Terms will usually be negotiated at the same time.

3. Condition - How well you have maintained the home will influence both your price and length of time to sell. The pool of buyers who are willing to make major repairs is much smaller than the pool of buyers who want a home that has been well maintained.

THE MARKET Controls
4. Timing - Economic conditions operate independently of price, terms and property condition. Similarly, seasons and weather factors can affect the time it takes to sell a home.

5. Competition - The number of homes on the market most certainly bears heavily on your ability to sell your home on a timely basis.

YOUR REALTOR® Controls

6. Promotion - From entry into the Multiple Listing System, to internet marketing and any other programs your agent will have an impact on your home sale.

CONCLUSION
No one of the six factors alone controls the timely sale of your home. Your agent should provide you with
  • Feedback from prospects who have visited your home
  • Changes in market conditions

Your willingness or ability to make adjustments in price, terms or condition based on the information provided will be the final determinant as to how quickly your home will sell.


Written by: Karen Kruschka, Remax Olympic Realty

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 61-65 of 65

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