About Lynchburg City County, VA

So apparently we're going to get some snow this weekend... on top of the 20+ inches we've already received. Needless to say, all this inclement weather doesn't do much for the local housing market. However, as one of my former brokers used to say... "I LOVE showing houses in the snow... because you know those buyers REALLY want to buy a house!"

So if you are one of those buyers who's ready to brave the elements to see the home of your dreams... or if you're one of those sellers hoping for a showing to one of those buyers... let's see how things look one month into 2010.

This past month (January 2010) we closed on 87 residential sales (compared to 84 in January 2009). Of those 87 sales, the average home sold had 3 bedrooms and 2 baths (no surprise there), had ah average list price of around $186,000 and an average sales price of roughly $174,000. The average number of days these homes were on the market was 128 days.

Now let's take a closer look... of these 87 homes that sold, 11 were in Forest (12.6%), 11 in the town of Bedford (12.6%) an 38 in Lynchburg City (43.6%). The breakdown by price range is as follows: 22 homes sold under $100k (25.25%), 22 sold between $100k and $150k (25.25%), 24 sold between $150k and $200k (27.5%) and 19 sold over $200k (21.8%).

Finally, out of the 87 homes that sold, only 24 of them had been on the market 45 days or less (27.5%). Nearly half of those homes were in Lynchburg City and exactly half were priced between $100,000 and $200,000. Fifteen of these homes had 3 bedrooms and on average had right around 1800 square feet.

Now why is any of this important? As a buyer, you should know that if you're looking at 3 bedroom homes in Lynchburg City (particularly zip code 24502) priced between $100,000 and $150,000 you aren't alone! That's the hot spot in the market right now. Understand that roughly 1 in 4 buyers last month bought a home very similar to what you've been looking at. As a seller, you need to understand that if you fit these criteria and you aren't getting any showings - you're priced too high. The buyers are looking and if they aren't looking at you, they have rejected your price in favor of more reasonable sellers.

RE/MAX 1st Olympic hosted a Christmas Party complete with Santa for our clients, friends & family on 12-1-09. My Grandson was not thrilled to sit on Santa's lap!

MY GRANDSON BRYLAN NOT TOO HAPPY VISITING WITH SANTA!

EVEN SITTING ON MOMMY'S LAP DID NOT HELP!!!!

A "LITTLE" BETTER SITTING ON KAKIE'S LAP

MERRY CHRISTMAS!!!!

RE/MAX 1ST OLYMPIC SANTA

12-1-09

I was inspired by Richard Weisser this morning! Well actually I had been mulling this idea around in my head for about an hour so when I landed on his Blog - I thought OK A SIGN!!!

I agree with Richard!!! It's The Holiday Season!!! So HAVE FUN!! I'm going to take the afternoon off and take my GrandBabies to Amazement Square! Then Tom & I will be going to a Neighborhood Party on Timber Lake and Downtown tomorrow to enjoy a fun morning at the Lynchburg City Market - Mistletoe Days! And then tomorrow night is the Lynchburg Association of Realtors - Christmas Party with a "Giving Theme!" To buy a raffle ticket for prizes I have to bring a cans of food, a toy or a coat! All proceeds of course will go to the Lynchburg Area Food Bank and other Charities in our area!

I am not going to worry about the Economy, the Real Estate Market, Politics, etc.... I'm going to kiss my Babies, hold hands with my Husband as we have fun at the Parties and enjoy the beautiful sights and sounds of THE HOLIDAYS!!!

Merry Christmas!!!!! And Happy Holidays!!!!

NOVEMBER 2009 - LYNCHBURG HOUSING REPORT

Current Number of Houses for Sale 1891

Houses Sold in NOVEMBER 2009 174

New House Listings NOVEMBER 2009 341

House Sales Closed in 2009 1814

Month Supply of Houses on Market 11.83

What do these numbers mean?

First - the number of houses listed for sale in our MLS is slowly going down (inventory is shrinking - slowly).

Second - We sold 68 more houses in NOVEMBER 2009 than we did in NOVEMBER 2008.

Third - We listed 81 more houses in 10-09 than 10-08. This makes sense because last year 10-08 was when the bottom dropped out of the economy and everyone was shell-shocked!

Fourth - In 2008 to date we had sold 2005 homes and in 2007 to date we had sold 2587 homes. This shows us that recovery is happening slowly.

It is a Buyers Market for Lynchburg Area Real Estate. Properties are continuing to sell in the 95% to 100% Sell $ / List $ - this means that the Sell Price is running close to the List Price with differentials of about 5%. Interestingly enough the homes priced from $95000 to $175,000 are selling closer to 100% of List than the other price points.

This information is taken from statistics for single family homes provided through the Lynchburg Association of REALTORS Multiple Listing Service and analyzed by Kathy Carson - there can be variables that affect my analysis. I supply this information as a service to my customers, clients and business associates.

12-8-09

SCENES OF TIMBERLAKE AS SEEN FROM OUR PORCH!

THIS IS A 12 MONTH A YEAR FAMILY & FRIEND GATHERING AREA!

WHEN THE LEAVES ARE OFF THE TREES WE CAN SEE ACROSS THE TIMBERLAKE FROM OUR PORCH!

CAN YOU SEE HIM?? THIS LITTLE GUY AND HIS TWIN LIVE IN OUR YARD, THE NEIGHBORS FIELD, THE CREEK... AND I WATCH THEM AS THEY STROLL IN FRONT OF MY HOME OFFICE WINDOW THAT FACES THE FIELD - WE HAVE WATCHED THEM IN OUR YARD SINCE THEY WERE BORN WHEN BRANTLEY (AT 2 1/2) LOOKED OUT AND SAID THERE'S "BAMBIE" - WE LOVE WATCHING THEM AND OF COURSE WE HAVE NO HOSTAS!

I LOVE MY NEW CHRISTMAS FLAG HANGING OFF MY PORCH ROOF - BRIGHT & CHEERY!!

KATHY MYERS CARSON, ABR, GRI

RE/MAX 1ST OLYMPIC - LYNCHBURG, VA

434-660-4025

kcarson@jetbroadband.com

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"CALL MY SELL!!"