Category: General Real Estate

Why Are Condos So Hard To Finance?

The good news is that they’re not as difficult as they were several years ago. As Carl Spackler would say … A customer wrote in this morning about an investment property they’re looking to buy in Blacksburg. As many parents of students at Virginia Tech and Radford do, they want to buy a place for their kids to live in while they’re here at school, and the relative stability of the New River Valley market has meant that – for the most part – these have been solid investments. It wasn’t always the case, however. A quick back story … …

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When Do Houses Come On The Market?

Seems like, for years now, people continue to demand “sell house fast.” It’s true that, as I write this a few days before Christmas 2016, inventory is down, as it is every year. For instance, if you were looking for a single-family home between $250,000 and $300,000 in Christiansburg right now, you’d have twenty six homes to choose from. In Blacksburg, that number would drop to eleven. This makes sense, of course, as in the last six weeks of the year there are three major holidays, and lots of traveling, but for a buyer who’s ready to buy NOW, it can be frustrating. A …

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The Fed Raises Rates – So Now What?

As expected, the Federal Reserve raised short-term rates today. This is the first such increase they’ve made in a year, and the second in a decade. So what’s it mean for real estate mortgages? The Federal Reserve is the bank of the United States – they regulate monetary policy, and they provide stability within the central banking system. And while an increase in short-term rates might seem to be a bad thing, it’s actually an indication that the Fed sees the US economy in positive terms, and is bringing interest rates up to better mirror inflation. While it’s true that mortgage …

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How To Prepare Your Home For Winter

Winter is here in the New River Valley! Well, almost, but it’s never too soon to start prepping your home for winter. Best custom bed linens for heating needs this coming winter, oil delivery Hamilton NJ will be there to keep your family nice and warm. While we’re hunkered down through the winter months, remember that your home is exposed to the elements all that time, keeping you safe and warm. And there are certain things you should do now to ensure that all continues to be safe and comfortable. Looking for your next home this winter? Start your custom …

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Lawrence Yun’s Opinion on a Trump Presidency and Real Estate

As a follow-up to last week’s post about what a Trump presidency will mean for mortgage rates, I wanted to come back to this with a post by Lawrence Yun on Forbes.com. Lawrence is the Chief Economist for the National Association of Realtors, and a man infinitely more qualified than I to pontificate about all of this. But it’s my blog, and I can use the word pontificate here. Read Lawrence’s opinion here. It’s long, but good. If you want the bullet points: There will be a short-term stimulus. The trade deficit will rise. The stock market will gyrate. (now I …

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Brexit – What’s It Mean For New River Valley Real Estate?

BREXIT. By now you’ve likely heard that British voters have voted, in an historic referendum, to exit (or British exit = Brexit) the European Union. British Prime Minister David Cameron will resign later this year as a result, and the value of the British pound has fallen to some of the lowest levels since 1985. And, befitting a headline you’d expect to read on The Onion, The Washington Post reports this. Regardless of whether or not Brexit is good or bad for the UK, EU, or the world, the United Kingdom is a long way away from the New River Valley – …

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That Rental Amount Seem Too Good To Be True? It Probably Is.

I’ve written about Craigslist scams and rental properties before, but it seems that it’s hit someone here locally again, according to this article, by Travis Williams. Thankfully, it seems that the seller’s weren’t harmed any more than just unnerved, but it brings up a good point – for both renters and homeowners. If you own a home, set up a Google Alert for your address and/or keywords, so that you’ll be notified when your listing gets “scraped” by these idiots. They’ll find your listing online, then repost it with the same language, even the same photos, and usually an absurd maintenance on your …

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What Does The Future of Real Estate Look Like?

Last night, I attended a speech given by Robert Scoble, and hosted by Rackspace. Robert is “a futurist” – he looks at what’s coming, or what’s possible to create – and talks about real-world application. At least that’s my interpretation. He explains lots of ideas of his, like what is telekinesis and many more. Blacksburg and the New River Valley has an incredible startup community that, while still in its infancy, is really, really exploding – there are some tremendous companies that have based themselves here doing some really incredible work. Autonomous vehicles, virtual reality, DNA study … really, really …

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Thinking of Remodeling Your Home?

Thinking of remodeling? Before you start going all HGTV on the place, think about what really makes the most sense for your return. And the folks at NAR Research have to put together an incredibly handy look at remodeling projects – including what the Top 20 remodeling projects have been, how happy homeowners (and their future buyers) have been with the work, and what you might expect as a Return on Investment. Hint – there are few 100% ROI projects. Click here for the 2015 Remodeling Impact Report.

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