About Roanoke County, VA

Want to know which Roanoke VA. zip code had a 13.4% price increase based on 4th quater 2009 vs. 4th quater 2008?

It was the 24017 zip code, which is primarily made up of the northwest section of Roanoke City. The average sales price for this area(RVAR MLS Area 5) of the city is $89,100 with an average days on market of 87.

The second largest 4th quarter year over year increase was the 24019 zip code with a 10.6% increase in sales price. 24019 is primarily made up of North Roanoke County(RVAR MLS Area6) and had an average sales price of $201,789 and average days on market of 95.

Even in a challenging market some areas are still hot. Real estate is a very localized industry and what is true in one section of a market is not necessarily true through out that market.

(This representation is based in whole or in part on data supplied by the MLS database. Information contained deemed reliable, but not warranted. This data may not reflect all real estate activity in the market area.)

Barnes&Noble Bookfair supporting the Roanoke County Public Library
Saturday, Jan.30 - Friday, Feb.5

A great way for people to educate, amuse or buy a present for someone and

help out the local community at the same time.

Tanglewood Mall

4478 Electric Rd

Roanoke, VA.


Please join us. Please present voucher prior to making a purchase. A percentage of the net sale will be donated to your library. If you do not have number, just mention Roanoke County Library.
Thanks for your support.

Recently Long & Foster Realtors held a regional sales meeting here in Southwest Virginia. Alexander Boone of Boone and Company spoke to the attendees. Mr. Boone brought several important issues concerning the Roanoke market to light is his presentation.

The first was the average sales price for Roanoke, VA. in 2006 was $209,000 while the national average was $221,000. Fast forward to 2009 and the national average has dropped to $173,000 while Roanoke is now $188,000, meaning that Roanoke now exceeds the national average.

There is opportunity in the real estate market right now. The current market offers excellent affordability, low interest rates, and free tax credits for buyers and sellers from the federal government. The government has kept interest rates low but that program expires at the end of March, as well as the tax credit program requiring buyers to be under contract by April 30th.

March 1st is the 2 minute warning if you are planning to sell or purchase a home in 2010. A recent market segment profile of the 24018 area code showed that 20 houses sold in the $100,000-125,000 range with an average of 104 days on market. 47 houses in the $125,001-$150,000 range sold in an average of 87 days and the last segment of study the $150,001-$175,000 showed 68 sold with an average of 73 days on market. With an average of 87 days to sell a house in these typical first time buyer price ranges and 97 days between today and April 30th the urgency to get a home listed by a Realtor is obvious.

"There is no place like home." This phrase conjures up feelings of comfort, safety, and security just to mention a few. To lose a home for any reason is a tragedy, but losing it through foreclosure is embarassing, demeaning and financially destructive.

The current crisis has created a situation ripe with fraud, mis information and confusion. Recently I have received the Short Sale and Foreclosure Resource certification, in doing so I have learned that there are alternatives to losing your home to your lender.

One of these alternatives is forbearance, under this plan the lender may allow the borrower to skip a payment or make a partial payment if the borrower can suggest a reasonable plan to catch up on the amount in arrears.

Reinstatement is similar to forbearance, but under this plan the borrower agrees to make a lump sum payment in the future to bring the mortgage "up to date." This could be made possible by using tax refunds, future bonuses or anticipated increase in family income.

Just because you haven't missed a payment doesn't mean you can't start the process of saving your home. If you are in the Roanoke, Va. area and would like to have a free and confidential discussion about the alternatives available please feel free to contact me.