Lynchburg, VA

New listing-3694 Depot Rd. Lynchburg Va. -830 sq ft. 2BR*1BA-$99,900

MLS#259523

Full basement w/laundry area-new everything! Heat pump/vinyl replacement windows/roof/plumbing/electrical/insulation/carpet & vinyl flooring/interior doors/vinyl exterior/foundation to be stucco/pebbles to be placed under new deck/it is a doll house!

VIRTUAL TOUR

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

IF YOU ARE LOOKING TO BUY OR SELL A HOME IN THE LYNCHBURG OR SURROUNDING COMMUNITIES CHECK OUT MY WEBSITE FOR ALL THE CURRENT LISTINGS OR GIVE ME A CALL AT

Pat Preston

RE/MAX 1st Olympic

Broker/Owner

ABR, CDPE, CRB,CREA,CRS,GRI,SRES

434-841-9001

PATPRESTON@REMAX.NET

MY WEBSITE

www.patprestonrealtor.com

CLICK ON THE LINKS BELOW TO FEED A HUNGRY FURBABY

CLICK ON THE BREAST CANCER SITE TO DONATE A MAMMOGRAM

http://www.theanimalrescuesite.com/

www.petfinder.com

www.breastcancersite.com

Proud supporter of

CMN and Susan G. Komen as well as the SPCA.

A portion of every one of my real estate transactions goes to CMN

PROUD MEMBER OF THE LYNCHBURG MLS, DANVILLE MLS & CREA

I receive calls every week from buyer's who are relocating to the Lynchburg, Virginia area and are in a difficult situation. They have homes for sale in another state, can't purchase until that one sells and have jobs to start. It's a challenge to find housing on short notice and for a short term and I haven't been able to direct them to an affordable lease.

I recently met with the leasing agents at Old Mill Townhomes and took a tour of their community. Old Mill is located off Graves Mill Road close to major shopping centers, entertainment, restaurants, schools, churches, colleges, Liberty University and major thoroughfares. The community offers affordable and spacious one, two, three, and four bedroom townhomes.

Current rates are: one bedroom- $596

two bedroom- $712-767

three bedroom- $845-895

four bedroom-$1108

All of the townhomes feature wall-to-wall carpeting, energy efficient heat pumps, and include major appliances such as a frost-free refrigerator, dishwasher, stove and a garbage disposal. The majority of the townhomes have recently been renovated and include new cabinets, countertops, appliances, flooring in the kitchen and bathrooms, new sinks and vanities. Furnished units are available, call for pricing.

In addition water and trash are included in the rent and all two, three, and four bedrooms include a stackable washer and dryer. Amenities include swimming pool with sundeck, newly upgraded fitness center that is open 24 hours a day, a playground, grill and picnic area and an on-site coin laundry facility.

If you're considering a move to Lynchburg, Virginia give me a call at (434) 546-0369 and I'll be glad to send you a relocation package. For more information on short term leases at Old Mill Townhomes, call:

Stephanie or Jennifer

Leasing Consultants

Old Mill Townhomes

725 Mill Stream Lane

Lynchburg, VA 24502

(434) 237-2901

(434) 237-9126 Fax

NEW LISTING: Watch the spring flowers bloom from the rocking chair porch of this lovely two story home in the Wyndhurst community. Three bedrooms up plus two full baths, powder room on main level in move in ready condition. Prefinished wood flooring in the living room, crown molding and a gas log fireplace, large eat in kitchen with access to the back yard. Laundry closet on main level, detached two car garage. Priced to sell at $209,900. Lynchburg MLS #258252

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.