FEBRUARY 2012 - LYNCHBURG HOUSING REPORT
Houses for Sale (current MLS) 1539 (3-5-2012)
New Listings for FEBRUARY 2012 289
Houses Sold in FEBRUARY 2012 105
The Inventory of HOMES for SALE is 10.5 Months
Every day I am asked “How is the Market” – how do I answer that?
It depends on who you are, why you are asking, and what you want to hear?
Bottom Line – there is Tension in The Market!
SELLERS – want their house sold at the highest possible price, in the shortest time period, with the least amount of trouble to them. Why do they have to pack up personal items, take down wallpaper, paint, stage, & price their house below their expectations – THIS IS THEIR TENSION!
BUYERS - want the best house, at the best price, in the best area, in the best condition & requiring little work. Why do they have to consider houses that are not updated, look in school districts they don’t like, have to stay in their price range (they can always make a low ball offer). And they want to look at every house that is somewhere around their price range (even if it does not fit their needs) -because they are afraid they will miss a deal – THIS IS THEIR TENSION!
REALTOR – MY TENSION – ALL OF THE ABOVE!!!
There has NEVER been a Real Estate market like this one! I relate from MY point of view - but I talk to Realtors every day & I hear the same thing over & over. We are working at least 10 hour days striving to fulfill the expectations of our Buyers & Sellers. What is the answer – Buyers & Sellers need to understand that each is unique, with unique issues relating to the sale/search for a home. My job is to take that uniqueness & use it to the advantage of both my Sellers & Buyers without burning all of us out in the process.
Media Information is a great resource BUT – it does not take the place of the REALTOR who is in the field every single day. I know the homes, the neighborhoods, the stats, the RE Market – and sometimes I know the “scoop!” I am trying to take this Stressful Situation and make it a Positive one for my clients!
I value the trust my clients have in me and I love it when they listen to me & take my advice!
We are seeing lots of “movement” in our local market - February & March produced many new contracts for Home Purchases – with the closings taking 45 to 60 days it will be interesting to see what happens to the numbers in the months to come.
This information is taken from statistics for single family homes provided through the LAR MLS & analyzed by Kathy Carson-
There can be variables that affect my analysis. I supply this information for my customers, clients & business associates.
I am a Full Time Realtor in the Lynchburg Association of Realtors. I struggle daily with having to deliver the bad news to Clients who are considering the issues of Selling their houses. Today I did a Market Analysis for one of my clients and realized I was delivering yet again the same information that I had delivered a few days ago to another client. I had wrote my Seller an email explaining their situation in detail and it dawned on me that this is what I say over and over to Sellers. Normally, it does not matter what area they live in, the style of the house, the price of the house or how long they have owned the house - basically it is the same story.
I reviewed what I had written my Client and I wrote this blog:
Dear Seller,
This is not what information you want to hear. It is not fun to deliver information like this but I do not gloss over the down and dirty details with Sellers. The Housing Market is what it is and I have the unfortunate duty to tell people the way is now!
Your property has gone down in value because of the Housing Market. Your house is worth today as much as it will be for several years unless your area experiences growth. The average time it takes to sell a house is 5 months. The weapons we use to reduce “Days On The Market” are:
· Price
· Condition of House
· Ease of Showing
· Staging of the house – Buyers need to see a their “stuff” in your house
You are not the only ones in this situation – unfortunately I have this conversation daily with other Sellers.
So Now - You have to Decide – are you ready to change your life-style and accept the costs of doing so? This is a hard decision.
Many Sellers are deciding that their Life-Style Changes are more important than staying in houses that no longer work for them. They recognize that the house provided shelter for their families. Their house may not be worth what it was 5 years ago before the “bubble burst” but houses do have value and can be sold. Sellers look at the diminished value but recognize they paid to live in the house they chose and it provided a home for them. Shorter Term Sellers (home owned less than 5 years) are seeing that basically “they paid rent.” Add to this, the fact that interest rates are at Historic Lows – Seller/Buyers are making up some of the diminished value by reducing their mortgage loan interest rates.
Please let me know your thoughts on this information – the Spring Market has already started so you need to get your house on the Market if you make the decision to sell!
Sincerely,
Kathy
Lynchburg VA Area
CLOSED HOME SALES FOR THE WEEK OF 1-15 thru 1-21-2012
AMHERST CO:
551 Round Mountain Loop Madison Hts $ 80,000.00
1508 Wagon Trail Rd Monroe $ 165,000.00
BEDFORD CO
5712 Cottontown Rd Lynchburg $ 215,000.00
1352 Oakwood Knolls Dr Bedford $ 260,000.00
1219 Thompson Dr Forest $ 347,000.00
CAMPBELL CO
217 Candlers Mtn Road Lynchburg $ 110,000.00
10198 Richmond Highway Lynchburg $ 118,500.00
80 MacArthur Dr Lynchburg $ 165,000.00
CITY OF LYNCHBURG
209 Reno Dr Lynchburg $ 110,000.00
522 Jackson St Lynchburg $ 120,000.00
721 Euclid Ave Lynchburg $ 135,000.00
1219 Greenway Ct Lynchburg $ 155,000.00
12 Homes Closed at an Average Price of $165,042.00
49 Houses Went on the Market for Sale last week.
This is a “snapshot” of Real Estate activity in
Amherst, Bedford, Campbell Counties and the City of Lynchburg
This information is taken from statistics for single family homes from the LAR MLS & analyzed by Kathy Carson, Realtor.
There can be variables that affect this report. I supply this information for my customers, clients & business associates
Lynchburg VA Area
CLOSED HOME SALES FOR THE WEEK OF 1-8 thru 1-15-2012
AMHERST CO:
114 Westhaven Dr Madison Hts $ 30,000.00
222 Garland Ave Amherst $ 128,000.00
193 Stoney Creek Rd Madison Hts $ 229,900.00
BEDFORD CO
838 Randolph St Bedford $ 100,000.00
1123 Roundtree Dr Bedford $ 129,900.00
1066 Commonwealth Cir Forest $ 163,000.00
1094 C8 Commonwealth Cir Forest $ 167,750.00
108 Springhill Cir Bedford $ 247,500.00
113 Snooty Fox Rd Goode $ 269,900.00
CAMPBELL CO
175 Coopers Way Evington $ 190,000.00
2608 Smoky Hollow Rd Lynchburg $ 193,000.00
CITY OF LYNCHBURG
1200 Toledo Ave Lynchburg $ 46,000.00
1907 Mimosa Lynchburg $ 80,000.00
3600 Old Forest Rd #114 Lynchburg $ 112,000.00
4303 Tremont Lynchburg $ 134,000.00
2716 Hurdle Hill Rd Lynchburg $ 225,000.00
16 Homes Closed at an Average Price of $157,403.00
63 Houses Went on the Market for Sale last week.
This is a “snapshot” of Real Estate activity in
Amherst, Bedford, Campbell Counties and the City of Lynchburg
This information is taken from statistics for single family homes from the LAR MLS & analyzed by Kathy Carson, Realtor.
There can be variables that affect this report. I supply this information for my customers, clients & business associates.
Kathy Myers Carson, Realtor 434-660-4025 or KathyCarson25@gmail.com
Lynchburg VA Area
CLOSED HOME SALES FOR THE WEEK OF 1-1 thru 1-8-2012
AMHERST CO:
NONE
BEDFORD CO
1115 Huntington Hts Bedford $ 79,500.00
1025 Woodhaven Dr Bedford $112,000.00
1839 Meadow Down Dr Forest $288,000.00
1116 Blessed Mtn Rd Goode $325,000.00
CAMPBELL CO
138 Charlotte Dr Evington $ 28,000.00
1023 9th St Altavista $ 50,100.00
10 Haven Ct Lynchburg $ 165,000.00
CITY OF LYNCHBURG
902 Craddock St Lynchburg $ 60,000.00
3208 Memorial Ave Lynchburg $ 69,900.00
3409 Milton St Lynchburg $ 91,500.00
309 Harrison St Lynchburg $ 113,000.00
11 Homes Closed at an Average Price of $125,682.00
64 Houses Went on the Market for Sale last week.
This is a “snapshot” of Real Estate activity in
Amherst, Bedford, Campbell Counties and the City of Lynchburg
This information is taken from statistics for single family homes from the LAR MLS & analyzed by Kathy Carson, Realtor.
There can be variables that affect this report. I supply this information for my customers, clients & business associates
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I Love being a REALTOR & I Love where I Live!!!! I can find you a home in VA:Campbell, Rustburg, Brookville, Timberlake, Concord, Evington,Bedford, Forest! 1ST TIME HOME BUYER SPECIALIST!
I am a REALTOR, Marketing & Selling Real Estate FULL TIME!!! I am a REALTOR with John Stewart Walker, Inc. and I'm a member of the Lynchburg MLS throughThe Lynchburg Association of REALTORS in the Central Virginia - Lynchburg - REGION 2000 area. I have earned my Graduate of Realtor Institute designation, I am a Accredited Buyer Representative and passed all of the Real Estate Broker Classes.
I have lived in the Brookville/Timberlake Community of Campbell County for most of my life and I graduated from Brookville High School and Central VA Community College. I have been married to Tom Carson for 36 years and we have lived on Timber Lake for over 20 years. My husband and son, Brett own and operate Central VA Office Furniture. Brett is married to Sallie Payne Carson who is a Special Ed Teacher at T.C. Miller (Lynchburg City Schools) and they are the parents of my prescious granddaughter, Brantley Ann Carson (5) and my adorable grandson Nealy Myers Carson - 18 mos -(named for my Grandfather). My daughter, Beth Anne Carson-Marr is a personal shopper at at J Crew and is married to Jon Marr. Jon works at B&W and they are the proud parents of my adorable grandson, Brylan Ramsey Marr (3).
I have always been an active community volunteer. In my younger days I served in many capacities of the local clubs of the General Federation of Woman's Clubs, as well as a parent volunteer for the City of Lynchburg (Heritage Elementary) & Campbell County Schools (Tomahawk Elementary, Brookville Middle School & Brookville High School). Currently I am a member of the Rotary Club of Forest and a worker "bee" for such activities as: the Lynchburg Area Food Bank, The Bedford Group Home, United Way, the Bedford Domestic Violence Center, etc. I am a weekly Volunteer at Centra Health Alan B. Pearson Regional Cancer Center
I love introducing new residents to all that our area has to offer, from the great cost of living, health care, educational opportunities to the great weather - We have it all !!!!
I Love being a REALTOR and I will welcome your calls.
My Family:
Brantley & Brylan (The Lights of My Life!) October 2009
Brylan, Brantley & "Elmo" - TimberLake - 10/2009
Beth Anne, Jon & Brylan on Father's Day playing with Fish!
Sallie, Brantley, Brett, and Myers Carson Summer 2010
Designations:
Member:
Awards:
Service:
Disclaimer - the views expressed on my blog are just opinions and should be viewed as such. My blog is part of the Active Rain Real Estate Network, a social community network made up of Professionals in the Real Estate Industry.
I am a ACCREDITED BUYERS REPRESENTATIVE and a GRADUATE OF REALTORS INSTITUTE. I have completed the courses of study and graduated these programs & earned the right to use these designations. These courses are specialized programs that allow a REALTOR to gain knowledge far beyond the requirements to pass the test to obtain a Real Estate Liscense. I specialize in Single Family Residential Properties in the Central Virginia Area. I love working with FIRST TIME HOME BUYERS - I place a very high value on educating the buyer. I offer my buyers a First Time Home Buyer's Guide and help them to understand that while they are buying a their first home they have to make sure the decision is also based on a good business decision - This is their investment for their future. I am very proud to say that I do not have any buyers in Foreclosure and this includes many First Time Home Buyers. Move-Up buyers are also one of my specialized areas and a challenging one. This Seller/Buyer is balancing the Sell of their current house with the pressure to Buy a new house and all the time dealing with the crunch of the morgage numbers and the timing for their Sale & Purchase. Throw in 2 work schedules, the kids, the animals, keeping a house clean and you have the makings for a Stress Meltdown!!! That's where a good REALTOR "earns their keep" so to speak - it is my job to play the devil's advocate and to anticipate the issues before they become issues. I LOVE MY JOB!!!!!!
ABR - Accredited Buyers Representative
GRI - Graduate of REALTOR Institute
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