Roanoke Real Estate

For those of you in SW Roanoke County who use your Kroger card, but can never get over to Towers or Salem to take advantage of the discounted gas, soon you will be able to take advantage of that service right here in SW Roanoke County!

Photo courtesy of swo_co

Excavation has started at the intersection of Colonial avenue and Route 221 (Brambleton Ave) at the former site of Madison’s.

No completion date has been set. 

A friend asked me what I thought of the recent numbers that have come out, and specifically, this video:

CLICK HERE

One of the analysts mentions: “it is payback time for the tax credit and that demand has been pulled forward and the demand now is not there.”  I simply don’t agree with that statement.  I do believe the following about our current housing market:

1) Consumer confidence is the #1 issue in today’s housing market(analyst #2 mentions this).  Our national unemployment numbers are hovering at 10% and the underemployed percentage drives that up even further.  Without an increase in consumer confidence, the housing market will remain in flux.

2) Mortage rates REMAIN at historic lows.  These rates cannot continue to remain this low.  The fed is artificially maintaining rates with short-term interest rates at near 0%, resulting in 30-year mortgages in the sub-5% range.  Inflation is inevitable.

3) Mortgage lending has tightened up and rightly so.  Buyers are no longer able to simply borrow on the equity of their current home to ‘buy up’. They must first sell their homes and this has created pent-up demand, in my opinion.  People still WANT to move up, they just can’t.

4) Pricing will continue to be flat, at best in 2010.  Those looking to sell are not able to get the same price they were just a few years ago; however, this also means those moving up are seeing lower prices than then would have seen three years ago, also.

Our president will speak at his state of the union address this week and his message will be important.  Will there be a shift in focus to job generation, or continued focus on policy?  With the pressure on the President in recent gubernatorial elections in Virginia and New Jersey, coupled with a switch in party in the Massachusetts Senate election, I believe the President needs to listen to the people’s voice and focus more on the economy.  We shall see.

So, what do you all think is going to happen in the 2010 housing market?  Please leave your comments below.

Check out this new Single-family property that we just listed. It is at 7423 Nandina Drive in Old Mill Plantation, Roanoke, VA 24018. This Single-family property has 5 bedrooms and 5.5 baths. This is a breathtaking, custom home in Roanoke’s premier planned community. Situated on 1.33 acres, this home has left no details out with a gourmet kitchen, 9′ ceilings on main levels and 10′ ceilings in lower level. 3-piece custom crown, over-sized baseboard, and custom plantation shutters throughout entire house. The outside boasts incredible brick detail and outdoor lighting. GET INSIDE! OWNER/AGENT.

For a virtual tour of this home, CLICK HERE
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Check out this new Lot property that I just posted on my Web site. It is at 3824 Eagle Crest Dr in Roanoke. This is the best lot in the Hidden Ridge sub-division. Fantastic setting on level lot with views of the Blue Ridge Mountains. Located in Hidden Ridge with home values from $500,000 to over $1 million. This lot has already been surveyed and is ready to place your new home on it. The public water and sewer hookup fees are included in the price ~5000 value
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Check out this new Single-family property that we just listed in SW Roanoke County. It is at 6371 Spring Run Dr in Roanoke. This Single-family property has 4 bedrooms and 3 baths. Fresh, clear and wonderful! Gorgeous hardwood floors. New carpet upstairs, updated kitchen with granite & tile backsplash. Custom built, one-owner home. Large bedrooms, main level office. Secluded cul-de-sac lot.

For more photos and the virtual tour of this home, CLICK HERE

If you would like to see this wonderful home, just give us a call at 540.521.9291 or reply to this post.

Often I am asked the names of the Mountains and ridges in the beautiful Roanoke Valley and I am not able to name each one; however, the Roanoke Times has a great interactive piece that describes the mountains of our valley in detail.  Click the photo to go to the interactive page with the names of the mountains and the elevations.

The WhiteGallagher team will be hosting Open Houses at 6211 Ashmont Road in Roanoke and in Old Mill Plantation.  Have you seen Old Mill Plantation yet?  Come out and admire the beautiful mountain views and 1-acre home sites.  There are 4 homes that will be available for you to take advantage of the $6,500 tax credit available to move-up buyers as a part of the First time home buyer’s expansion.  Call me for more info.  Below is a copy of our ad that will appear in the Roanoke Times:

Oh, the joys of online marketing…and the headaches that come along with it sometimes. 

Recently, I listed a home in Roanoke and one of the spots it is marketed is on craigslist.org, along with several other of our listings.  Unfortunately, on this home, someone has fraudulently listed the home for rent by stealing our listing photos.  The user has set up a fraudulent email account with letters in my first and last name, also.  When folks inquire about it, this person is asking for personal information and for the first months’ rent to be wired.  Obviously, this is a scam.  If it seems to good to be true…it probably is.

What did I learn from this?  I have learned how to report a fraudulent ad on Craigslist by ‘flagging’ the posting and referring to it as ‘Prohibited’. 

This will alert the craigslist staff of the posting and they will investigate.

 In today’s economy, I am sure we will continue to run into this type of scam.  It is very unfortunate.  I thought you would want to know.

JG

This home in Old Mill Plantation, Roanoke’s newest and premier planned community is coming along very well.  Check out some of the views from this home.  When complete in the Spring, this home will have over 3,100 square feet finished with a main level master bedroom, office, and Florida room.  It will also have 3 more large bedrooms and 2 bathrooms on the upper level.  With the stone and board&batten finishes, this home will be beautiful.

If you have any questions about this home or any others in Old Mill plantation, please contact me, or visit our web site at www.oldmillplantation.com

We’ve just sold this home at 5212 Falcon Ridge Rd in Roanoke. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.