Harrisonburg, VA Real Estate News

By Charles Hendricks
(The Gaines Group, PLC Architecture and Design)
The Friendly City Food Co-op is ready for a celebration. The Grand Opening is Saturday July 9, 2011 from noon - 5pm. The event is for the whole family and the entire community is welcome. There will be a ribbon cutting ceremony with the Commissioner of Agriculture Matt Lohr, Mayor Richard Baugh, and representatives from Harrisonburg Downtown Renaissance and the Friendly City Food Co-op. The ceremony will be followed by music and fun. There will be demos, contests, free samples, and of course give aways! Freddie the Friendly City Carrot will also be there. Schedule of Events: 11 AM – 12 noon: Ribbon Cutting Ceremony with Mayor Richard Baugh, Harrisonburg Downtown Renaissance, Friendly City Food Co-op board, and special guest, Commissioner of Agriculture Matt Lohr. 12 noon – 5 PM: “From F...
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By Charles Hendricks
(The Gaines Group, PLC Architecture and Design)
Want to be a better member of the community, get started today with these simple first steps. A healthy community starts with you. Reuse – look for product packaging that allows for reuse, look for minimal throw away packaging, look for new uses for old items Reduce – replace old light bulbs with energy-efficient LED or Compact Fluorescent bulbs Tighten – air seal your home, this is the least expensive most effective way to achieve energy efficiency Eliminate – turn off electrical devices not in use, use smart power strips that get rid of phantom loads from appliance like televisions and phone chargers Strip – weatherstrip your doors and windows, open the windows in the cool mornings to ‘air condition’ your home, close blinds in the warm day to keep the cool in Hang Out – install a clot...
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By Kline May Realty
(Kline May Realty)
Click here to download May's Market Update charts. Click on the image below to see our new infographic! Residential sales figures for the Harrisonburg-Rockingham Association of REALTORS Multiple Listing Service (HRAR MLS) in May declined slightly from April, but Buyer activity (property showings and new contracts) remains steady. In May 97 residential units sold through the HRAR MLS, close to the 99 sales in April and better than March’s 88 sales. This consistency is encouraging, albeit at lower levels than we need to maintain a healthy market. Year to date, the HRAR MLS is 56 units behind last year’s sales pace, a bit disappointing but hard to measure due to last year’s Homebuyer Tax Credit mid-year deadline. The 12 month trend for average sales price actually rose very slightly to $19...
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By Suzanne Daughety
(Kline May Realty)
Music and Movies on the Square. This Friday June the tenth join a summer tradition in Harrisonburg Virginia and celebrate 20 years of live musical groups and films on the Courthhouse Square in downtown Harrisonburg. Music will start at 7:00 PM. Family Fun will abound, you are welcome to bring chairs and food and friends and family. Music will be provided by Eric brace and Last Train Home. They are a roots rock touring band.
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By Charles Hendricks
(The Gaines Group, PLC Architecture and Design)
The economy is still struggling to recover, but are we looking at the wrong measure? The report this morning is that small businesses are uncertain about the economic recovery because consumers are not spending like they used to spend. If I remember correctly, our economic collapse was blamed on consumers spending and borrowing at unsustainable levels – so thank you for not spending with reckless abandon. So basing an economic forecast on a measure taken from the very issue that caused the economic collapse seems less than accurate. I know that as a small business we have looked closely at our budget and cut out things that were not offering measurable payback. As a family, we have made sacrifices to make ends meet. As a small business owner in the construction industry, I can tell you ...
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By Charles Hendricks
(The Gaines Group, PLC Architecture and Design)
The Generations Home grows from the practical design of the American farm house, integrating this iconic architecture with modern technologies. Traditional elements such as the large front porch are combined with modern elements, such as the open floor plan, creating a series of spaces designed to bring family and community together. This ecologically sensitive home uses advanced insulation systems, water conservation measures, and efficient heating and cooling systems that can save 60% in energy and water costs annually. The durable and healthy materials used in construction limit the time spent on maintenance and enhances the beauty of this home. The Generations Home features a grand foyer, a large family room, an open dining room, and a kitchen featuring ample cabinet space and all o...
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By Charles Hendricks
(The Gaines Group, PLC Architecture and Design)
When showing a home have you ever had a client look into the crawl space. I am helping this home owner fix a problem left for them by the previous owners. In our mixed humid climate, crawl spaces should not be vented, but it has been done for years by builders that do not understand building science. This home had the added feature of a fan pulling in warm moist air into a cool crawl space. What you can see in this picture is water pulling the insulation apart as it actually is raining in the crawl space from moisture condensing on cool surfaces. Talking to your home owners about issues they may have to deal with upon purchasing a home will not kill the deal, but it will show your client that you care and understand what you are doing.
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Original Harrisonburg/Rockingham Real Estate Market Report posted at KaiDegner.com The Harrisonburg/Rockingham real estate market report is showing a continued decrease in prices and an increase in average days on market for homes listed for sale.  It remains a buyer's market! Figure 1: The chart shows an increase in 2009 and 2010 similarly timed with April in 2011. (Source: Harrisonburg -Rockingham Association of REALTORS Multiple Listing Service, 5/09/2011) Figure 1 shows a spike in the average and median prices of homes that sold in April 2011.  Initially, that might suggest that prices are going up and that the market is turning around.  However, the previous years show a similar spike in prices at the same time of the year, following by a decline in the following few months. Figure...
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By Kline May Realty
(Kline May Realty)
Click here to download April's Market Update charts. Last month in this report we said the early signs for the Spring and Summer market looked good, and to stay tuned. After looking at April’s numbers, we continue to feel the market is in better shape than it has been in several years. While we are not experiencing a full-blown recovery, it appears the positive trends are continuing with regard to sales, contracts and overall buyer activity. Due to the continued presence of distressed properties in our market, prices continue to drop, however, despite what appears to be strengthening demand for homes. In April, 99 residential units sold through the Harrisonburg-Rockingham Association of REALTORS Multiple Listing Service (HRAR MLS), a 12.5% increase over March’s 88 sales. There were not ...
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Harrisonburg Virginia has so much to offer including great Real Estate Opportunities. People relocating to the Shenandoah Valley are often impressed with the local benefits of living in the Harrisonburg-Rockingham County area. One of those local benefits is the Harrisonburg Farmers Market. The Harrisonburg Farmers Market has a rich history. It started in 1979 by Samuel Johnson with help from community leaders and Harrisonburg Retail merchants. For 30 years the Harrisonburg Farmers Market has brought fresh local produce and locally made crafts enriching the Shenandoah Valley. Their mission is "to provide the public with easy access to fresh, healthy, locally-produced agricultural goods and crafts of the highest quality while assisting local and regional farmers and other producers in dir...
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By Kline May Realty
(Kline May Realty)
Thanks for reading the Kline May Realty Absorption Rate report. Click here to download March's Absorption Rate Charts. If you are new to the our report or have questions about exactly what this report will tell you please read our “Just what is Absorption Rate” section at the bottom half of this blog. So what does this quarter’s report tell us about the market? In general, there is a bit more than a one year supply of homes out there, at the current pace of sales (13.57 months supply) Since the absorption rate is calculated by looking at the current inventory versus the sales over the past 12 months, fluctuations in inventory are a critical factor. When looking at the decrease in inventory over the past six months, it is clear that the pace of sales has slowed. In each subsection of our...
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So what does this quarter’s report tell us about the market? In general, there is a bit more than a one year supply of homes out there, at the current pace of sales (13.57 months supply) Since the absorption rate is calculated by looking at the current inventory versus the sales over the past 12 months, fluctuations in inventory are a critical factor. When looking at the decrease in inventory over the past six months, it is clear that the pace of sales has slowed. In each subsection of our area, it is important to look at the change in inventory compared to the overall change in absorption rate. If the change in absorption rate has exceeded the change in inventory, the pace of sales has increased. Townhomes, in general have fared a bit better than single family homes. There are no areas...
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By Suzanne Daughety
(Kline May Realty)
If you find your self in the Shenandoah Valley, Harrisonburg Virginia looking for that perfect home you may need a place to stay. Hotels are fine, but consider Harrisonburg's Bed & Breakfast establishments. Each Bed & Breakfast is very different and everything from the house to the innkeeper make each one extremely unique and special. There are no two B&B's alike. Here are a few Bed & Breakfast's that are just wonderful in the Harrisonburg Area: By the Side of the Road Bed & Breakfast Four main house suites & three spectacular Cottage Suites await you at By The Side Of The Road Bed & Breakfast. Check out their website: http://www.bythesideoftheroad.com StoneWall Jackson Inn B&B There are ten well appointed guest rooms, each with private bath, sound insulated with individual climate cont...
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By Kline May Realty
(Kline May Realty)
Click here to download March's Market Update charts. It appears the Spring market is here! In March, 88 residential units sold through the Harrisonburg-Rockingham Association of REALTORS Multiple Listing Service (HRAR MLS), a 60% increase over February's 55 sales. Interestingly, 19 of the 88 units sold for less than $100,000, a possible indication investors are recognizing bargains and snapping them up. In addition to the rebound in the number of successful closings, 110 residential units went under contract in March, comparable to last year's Tax Credit fueled March total of 118 contracts. Year to date, the HRAR MLS is 23 units behind last year's sales pace, but (again) considering the urgency created by last year's Tax Credit deadline, holding relatively even with the first half of 20...
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By Kline May Realty
(Kline May Realty)
For those of you who aren't familiar with the term "shadow inventory", it basically refers to real estate properties that are slated for foreclosure but are not on the market yet. These homes "loom" over the real estate market in the "shadows" so to speak. The term can also refer to home owners who are planning to sell their properties but are waiting until prices improve. An example of this term is that after the mortgage meltdown of 2007-2008, the lenders left holding many foreclosed homes held back a large majority of the properties to slowly "ease" them into the market so that supply would not rapidly increase, therefore drastically lowering home prices. HousingWire.com has a great article that quotes some interesting figures from CoreLogic. CoreLogic is a data provider who speciali...
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By Kline May Realty
(Kline May Realty)
Click here to download February's Market Update charts. Our relatively slow start to 2011 continued in February, showing similar sales as January. In February, 55 residential units sold through the Harrisonburg-Rockingham Association of REALTORS Multiple Listing Service (HRAR MLS), very close to the 57 units sold in January. Although the winter months typically are the low point of the year in terms of sales activity, the monthly total of 55 units is the lowest recorded in the past several years. On the surface it appears our downward slide is continuing with no sign of recovery, but there is a distinct silver lining appearing within this cloud – increased buyer activity! At Kline May Realty we keep track of several key indicators of market activity including showings set up by our offi...
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By Suzanne Daughety
(Kline May Realty)
If you are thinking of relocating to the Shenandoah Valley and want to know more about the area - here's a little gem and I want to share it with you. Right here in Harrisonburg Virginia there is a place where your children can step out of the day to day and into discovery! The Explore More Discovery Museum has exhibits to expand the minds of children. Children can create with art projects, become a construction worker and build with Keva planks, become a TV anchor or weather reporter, make new discoveries in the science lab, work on cars in the super service center, perform theater, explore farming, become a chef at CK's Kitchen or experience the great outdoors with puppet shows and a snack in the woods. A special area for 3 & under visitors is also available where toddlers can enjoy a...
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By Kline May Realty
(Kline May Realty)
As we begin the month of March, more and more people are starting to put the final touches on their taxes. There are many certified public accountants in the Harrisonburg, VA area that can help you properly complete your taxes and tell you which real estate related items can be deducted for 2010. One of many benefits of owning a home is the tax deduction for your mortgage interest. But did you know that you can also deduct your real estate taxes paid at settlement or closing as well as any points or home mortgage interest that are part of the actual home closing process? Many people overlook this fact in a rush to get all of their mortgage interest on their taxes. And don't forget that this not only applies to purchasing a new home but also to refinancing an existing home. To continue y...
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By Kline May Realty
(Kline May Realty)
In my February 1st, 2011 blog entry, I reported that Google Maps would no longer allow real estate searches. As recently as yesterday, February 15th, when I searched for "Harrisonburg, VA" within Google Maps I could still select "real estate" from the options list. No results were returned, however. The screnshot below shows what I was able to see yesterday. Click on the image to see a larger view. This morning I was looking at Google maps again and the "real estate" option was completely gone when I searched for "Harrisonburg, VA". Click on the image below to see a larger view. This is a great opportunity to use the Kline May Realty search engine for all of your real estate needs. From the home page of www.klinemay.com, type in your search criteria in the red Quick Search box. In this ...
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By Kline May Realty
(Kline May Realty)
On Tuesday, January 25th, the Kline May Realty Team met for the annual company awards meeting. Despite a rough year in real estate (especially after the $8000 tax credit expired in June of 2010), our company persevered and for the second year in a row was the #1 real estate company in the Harrisonburg Rockingham Association of Realtors (HRAR). Kline May Realty had 4 of the top six agents/teams in the local HRAR in the following order: #1 The Harrisonburg Homes Team #2 The See R Team #5 The LaDawn Sells Homes Team #6 The Trobaugh Group The keynote speaker for the meeting was Mike Clark, head football coach for Bridgewater College since 1995. Keith May (the owner of Kline May Realty) introduced Clark and noted that his winning percentage is 90 - 25, which is a higher percentage of wins th...
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