Goode, VA

Although sales are still very tenuous in the Lynchburg, VA area, we are seeing good news and it has been over the last four months. Average prices have been on the upswing for that period, number of days to sell are less and unemployment dropped for the first time in 6 months to 7.2% in April.

Lynchburg area also was the only area in Virginia to see an increase in jobs over the last year.

All good news!

How are your stats doing?

Now is a great time to buy a home.

Mortgage rates, 30 year fixed, started the month about 5.3% and have ended up in the 5% range. This week saw a drop of just a smiggon, That's good news for consumers, but don't expect the rates to stay this low unless the economy tanks further. Projections are that we are at the low in the cycle.

There are signs that the real estate market is picking up over much of the country except in the hardest hit areas. Rates normally inch upwards under these conditions. The law of supply and demand very much impacts the real estate market and as consumers are hit by the bug to get our and do something, the rates head higher. Normally in prime season which starts in April and ends the end of July, the rates are at their highest for the year.

Properties under $200,000 continue to be the bulk of the sales. Average days on the market are in the 280 range vs 210 last year. and have increased from 219 in February. There were 133 sales in March vs 168 last year. Average sales price has dropped to $151,982 vs $184,290.

Does this mean the price of your home has dropped by the same percentage? Not likely! It usually means that more first time buyers are now in the market and the lower end homes are the one's that are selling, so the average prices drop.

A positive we are seeing is that the inventories are starting to drop vs last year around 1800 vs 1700 this year. That is still a huge number. We now have just under 14 months of inventory.

If you would like to have an estimate of value on your home, if you are thinking of selling, call me. I'd be glad to help.

Up or down? The number of days on the market normally begins to decrease with April figures, so we will have to wait and see if that happens next month. I predict, rates will be up next month.

Norma Brandsberg, GRI Marks Realty Co., Inc 4119 Boonsboro Rd., Ste. 205 Lynchburg, VA 24503 home office(540) 586-9496 cell phone (434) 426-0837 toll free (800) 551-0975 norma@normasells.com

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One of the truly amazing things about this area is how fast the weather can change. Areas here had as much as 12 inches of snaw last week. For the last few days I have turned off my heat. The temperatures are now in the 80's.

Last night we sat outside on our deck until late. When we retired the temperatures were still in the upper 70's.

My flowers ae beginning to bloom and that's likely to make anyone feel better.

Could you post pictures of what you are seeing in your area or at least what the weather is like in your area?

Are you seeing an increase in activity?

Norma Brandsberg, GRI Marks Realty Co., Inc 4119 Boonsboro Rd., Ste. 205 Lynchburg, VA 24503 home office (540) 586-9496 cell phone (434) 426-0837 toll free (800) 551-0975 norma@normasells.com

Driving west on Route 221, partway between Forest and the City of Bedford is the community of Goode, Virginia. Covering approximately 40 square miles, Goode has gorgeous views of the Blue Ridge Mountains, especially the Peaks of Otter.

With a population of more than 60,000, Bedford County is included in the Lynchburg Metropolitan Statistical Area, covers 769 square miles and borders Lynchburg to the east.

Goode has a population of 2757. Public Schools serving Goode include:

• Forest Elementary
  

• Forest Middle

• Otter View Middle

• Jefferson Forest High School
  

Goode is served by a volunteer Fire Department:

The Goode Volunteer Rescue Squad
P.O. Box 178
Goode, VA 24556

There are currently 25 single family properties on the market ranging from $94,900 for doublewides to $699,900 for estates with acreage & mountain views. CLICK HERE for Demographics for zip code 24556.

For information on available properties in Goode, Virginia, contact:

Debbie Malone, Realtor (R)

(434) 546-0369

RE/MAX 1st Olympic

20395 Timberlake Rd

Lynchburg, VA 24502