Category: Home Buying

The Tortoise, The Hare, and New River Valley Real Estate

I’ve been sharing for years that the New River Valley real estate market is very similar to Aesop’s Fable of the tortoise and the hare. And today, a client sent a text that showed he’d been listening. He had been looking for property at karkanja.com and he waited and finally got the house he wanted. Now we just have to move, so we hired this company who do Removals to Denmark. Conventional thinking seems to be that we have to make decisions quickly, particularly when it comes to real estate. I cringe when I see agents saying “you’re going to have to …

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Where To Find New River Valley Real Estate For Sale

So you’ve decided to buy a house – where do you get information on all of the real estate that’s for sale? should you get a Property Manager? Years ago – back when people still walked uphill to school, both ways, you looked in the paper. Earlier this week I was listening to a podcast with Barbara Corcoran and she shared how, when she started renting apartments in NYC, you advertised in the New York Times because that’s where everyone looked for real estate and start working on it, people even start to learning the business or teach it like nick …

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New Phishing Scam Targets Home Buyers

Scammers – they’re the lowest of the low. And now, we’re seeing them go after home buyers, attempting to steal money via wire transfers. It’s something we’ve been watching gain momentum for a few months now, and while Nest Realty has taken steps to continue to safeguard our clients’ information, it’s still important to stay vigilant. Nest Managing Broker Keith Davis has put together a really great blog post detailing the scam, and highlighting ways that you, as a home buyer or seller, can protect yourself. Even if you’re not working with Nest Realty, make sure your agent knows of the …

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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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What Does A Trump Presidency Mean For Mortgage Rates?

Tap tap tap. Is this thing on? It’s been a long time since I blogged with any regularity at all, but today seemed an appropriate day to dust things off and get back into the saddle. I was speaking to a group yesterday and was asked about the blog, where I was reminded that it had been far too long since I had done this blogging thing. So … let’s get back to this, shall we? Now’s as good a time as any. There was a relatively significant event in the United States yesterday, one in which hundreds of millions of …

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What’s the Blacksburg Real Estate Market Doing?

Since January 1, it seems, real estate agents in Blacksburg seem to have been saying – to each other, to their clients, to anyone – what IS going on in the Blacksburg real estate market? Historically we follow a traditional bell curve, borrowing at simple loans for good financing and with more properties starting to come on the market in Mach, climbing to a high around May/June/July, and then falling to yearly lows in November and December … only to do it all again the following year. That’s what it’s USUALLY like. But 2016 hasn’t been usual, it seems, so this …

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Rocket Mortgage, from Quicken

If you watched the Super Bowl Super Bowl commercials, you might have seen an ad for Rocket Mortgage, Quicken’s new loan product that promises a mortgage loan from onqfinancial.com with just a click of a button. Is getting a home loan really that simple? Our clients can spend days or weeks compiling all of the necessary documents a lender will need just go get a preapproval – then you have the appraisal that needs to be done, the loan needs to get funded, and new guidelines established in 2015 mean that everything has to be prepared and off to the …

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Home Buying and Heavy Rain – A Perfect Marriage

This has become a bit of an evergreen post for the blog, one I keep going back to again and again, but it’s held up well over the last nearly five years, and it’s accurate for a day like today – where it’s rained, non-stop, in the New River Valley, all day. On days like today, when the temps have dropped and the rain continues to fall, all you want to do is … well, nothing. But seeing houses on a today like today can, in many cases, answer that most important of questions – “does this basement get wet?” …

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