About Botetourt County, VA

Here is an interesting article I found today:

Daily Real Estate News | November 6, 2009 | Share Declining Inventory Sign of Stabilizing Market
An important reason that the housing market is stabilizing is the reduction in inventory. Current sales and inventories suggest that supply will decline below the pre-2006 levels by the end of 2009.

But analysts say that the stabilization of the market doesn’t mean that prices will rise anytime soon. They point to what they call “shadow inventory,” foreclosed homes that banks are holding off the markets. They predict that these homes will hit the market in spring 2010.

But overall, they are optimistic that the housing recovery is built on an improving economy and say that the market will continue to stabilize.

Source: BusinessWeek.com, James C. Cooper (11/09/2009)

I do believe that the market is improving. I expect steady sales through the winter especially with the new extension of the tax credit. Do NOT expect the credit to be extended again when it expires on April 30, 2010 though- there will most likely be no more extensions.

Here are a few more pictures from our Halloween event. Thanks again to Linda, Jeff, Sal, Nate, Maddi, Deena, Phillip, Brian, Cody, Carole, Devin, Brandon and everyone who helped pull it off. And no, we are not satanic! We are Christians who know the real history of All Hallows Eve, look it up if you don't know: It has a religious background! We love Halloween and look forward to next year when we will have a few changes to keep everyone scared!

Some people may have seen a bit of a spectacle in Botetourt County on Halloween thi syear. It began a couple weeks before Halloween with the installation of our Haunted Graveyard. It was set up over the next couple weeks and culminated in what I call "the show". We featured a full graveyard with over 24 tombstones, a flying ghost, an animated coffin, and moving corpse in a body bag and very scary looking bat that lowered itself over the doorway. And let's not forget the 12 volunteers who helped pull it off by operating the moving features and performing as ghosts and goblins who spooked the Trick-or-Treaters as they entered and exited the graveyard. Our neighbors were all very excited about it. We counted at least 95 children of all ages as well as their parents and anoth 10 adults tha tcame with no children just to check it out. The photos don't really do it justice as we run fog machines and strobe lights with spooky music to complete the effect.

This is an article recieved from:

Daily Real Estate News | November 6, 2009 | Share

Obama Signs Extended Tax Credit into Law
Expected to contribute approximately $22 billion to the economy, Congress overwhelmingly passed a bipartisan measure this week extending the $8,000 home buyer tax credit to April 30, 2010.

The legislation, which is part of a larger bill that also extends unemployment benefits, was signed into law by President Obama today.

More people are now eligible to take advantage of the law, which includes a $6,500 tax credit for buyers who are current home owners and have lived in their home for five of the past eight years.

Income limits for eligible home buyers were also expanded to $125,000 for single buyers and $225,000 for couples, up from $75,000 for individuals and $150,000 for couples. Qualifying home prices are capped at $800,000.

NAR's Government Affairs Division has compiled facts on the changes made to the current tax credit. NAR members sent more than 500,000 letters to leaders in Congress and made nearly 13,000 telephone calls to Senate offices last weekend to encourage support. So far this year, REALTORS® have spent nearly $14 million lobbying Congress, according to federal campaign finance records compiled by the Center for Responsive Politics.

Sen. Johnny Isakson, a Georgia Republican and a former member of NAR, was key in extending the credit, as well as pushing it through initially. Other prominent boosters include the National Association of Homebuilders and the Mortgage Bankers Association.

Listen to NAR President Charles McMillan's podcast announcement.

NAR economists estimate that approximately 2 million people will take advantage of the tax credit this year.

Sources: NAR and The Associated Press, Julie Hirschfeld Davis (11/06/2009)

We spent a good part of last month staging a fabulous horse property. We painted, we cleaned, we brought in furniture and accessories, and we STAGED. Now we are having a party to show off this wonderful property.

We have invited Realtors throughout SW and Central Virginia to tour this estate style property that is convenient to both Roanoke and Lexington. We will be serving authentic Derby style food that includes Grits, Cucumber Sandwhiches, Derby Pie, and Mint Juleps. We will be drawing for prizes and there will even be a prize for the best hat.

Below are a few photos ...more will follow soon.

For more details please go to http://www.create4u.biz/apr30.htm