Real Estate
Nicely updated new listing in Lakewood See Page 8
Wednesday, October 25, 2023
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Wednesday, October 25, 2023
REAL ESTATE SHOWCASE
‘Slow And Competitive’: Realtors Association Releases 2024 Predictions By RICHARD H. HRONIK III Daily News-Record
The Virginia Association of Realtors, the state’s largest real estate trade association, released its forecast for the 2024 Virginia economic and housing market last month. “Due to rising and volatile mortgage rates, upward pressure on home prices, and tight inventory conditions, Virginia’s housing market experienced a sharp decline in sales activity in 2023,” said Katrina Smith, president of the association, in a press release. “The lowest it has seen in almost a decade.”
The market continued to experience greater demand than supply in September, according to Ryan Price, the association’s chief economist. “It’s continued to be very slow and competitive,” Price explained. “The activity on the market is about on pace with where we were over the summer.” In the release, the association predicted home prices to rise 1.2 percent in 2024, with sales activity increasing 11.4 percent over 2023. Even with this increase, however, 2024’s sales activity will fall short of the previous decade. “We’re in this pattern now in the market, slow and competitive,” said Price. “I
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don’t expect this to change much in the near term for two reasons. One, would-be sellers — homeowners — there’s not a lot of incentive right now to sell your home and lose the ultra-low interest rates that most folks are locked into. In Virginia, if you look at the data, the mortgage rates that most people have is 3.8 percent. But if folks go out and buy another home, you’re looking at a 7.5 percent interest rate.” Price referred to this phenomenon of homeowners not selling because of increasing interest rates as the “locked-in effect.” He says that, because of it, the Virginia market’s problem of supply and
demand won’t get better anytime soon. The association also predicted that permits to start work on new housing would increase by 7.1 percent in 2024, citing high demand as a driver. In addition, the association predicted that mortgage rates will remain volatile in 2024, but still gradually decrease from 2023’s record highs, to an average of 6.15 percent by the end of next year. For the full report, visit https://virginiarealtors.org/research/reports/. Contact Richard H. Hronik III at rhronik@dnronline.com, 540-2083278, or on Twitter @rhronikDNR
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REAL ESTATE SHOWCASE
Wednesday October 25, 2023
CLUES ACROSS 1. Male children 5. Robert Wagner series “Hart to __” 9. Unfolded 11. Digestive disease 13. Wednesday 15. Malignant tumor 16. Conscientious investment strategy (abbr.) 17. Slowed 19. Letter of the Semitic abjads 21. Weights of cars without fuel 22. Former CIA 23. Asian country 25. Instead 26. Ancient Egyptian King 27. Privies 29. Shopping trips 31. Paradoxical anecdote 33. It’s on the table 34. Ancient Persia ruler 36. Small American rail 38. File extension 39. Days (Spanish) 41. Everyone has one 43. South American plant 44. About ilium 46. Vanished American hoopster Bison 48. A type of breakfast 52. Uncooked 53. Examined 54. Christian recluse 56. Strong posts 57. Some are for pasta 58. Skinny 59. School-based organizations CLUES DOWN 1. Ringlet 2. Type of complex 3. Midway between north and northwest 4. It becomes something bigger 5. German courtesy title 6. Genus of birds 7. Marked by public disorder 8. Least aggressive 9. Russian city 10. Insect repellent 11. Interruptions 12. Scoundrels
14. 1,000 calories 15. What one does overnight 18. Dwarf planet 20. Pipe 24. Black powdery substance 26. Set of four 28. Canned fishes 30. North Carolina college 32. Secured 34. A disgraceful event 35. Physical suffering 37. The home of the free 38. Some are boys
40. Satisfy 42. Makes very happy 43. South American plants 45. Modes of transportation 47. Female sheep 49. Type of torch 50. Piece of merchandise 51. Jump over 55. Wife of Amun
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Wednesday, October 25, 2023
REAL ESTATE SHOWCASE
5 Luxury Features Buyers Desire Metro Media The real estate market has been something of a roller coaster ride over the past few years. Historically low interest rates coupled with a surging interest to move to communities with more outdoor space during the height of the pandemic led to a lot of movement and inventory as well as some of the highest home prices in some time. The tides have started to change in recent months, as the housing market has been tepid at best since interest rates have increased. In the week ending August 24, 2023, the national average 30-year fixed mortgage rate pushed to 7.23 percent, while the National Association of Realtors said the median existing-home sales price was expected to surpass the all-time high of $413,800. The stagnation of the market Contributed photo by Metro Media
See LUXURY, Page 7
HOROSCOPES
ARIES – Mar 21/Apr 20
VIRGO – Aug 24/Sept 22
AQUARIUS – Jan 21/Feb 18
TAURUS – Apr 21/May 21
LIBRA – Sept 23/Oct 23
PISCES – Feb 19/Mar 20
GEMINI – May 22/Jun 21
SCORPIO – Oct 24/Nov 22
CANCER – Jun 22/Jul 22
SAGITTARIUS – Nov 23/Dec 21
Pull together your dream team, Aries, because you are going to need all the help you can get at this point. The week is jam-packed with many different events. Taurus, now is not the time to employ tough love if a friend or family member comes to you looking for help. You have to keep an open mind and a willingness to assist. Your clever brain has a lot of creative ideas running through it, Gemini. It’s just a matter of zeroing in on one and then putting a plan into effect. Recruit some friends. If you believe and have faith, you will receive what you need this week, Cancer. Your patience finally may pay off in the form of just rewards. Keep your eyes open.
LEO – Jul 23/Aug 23
Leo, your desires are limitless and you want things to go exactly how you envision them. However, sometimes you have to make compromises or concessions, like this week.
It’s possible you may find refuge in relationships this week, Virgo. Surround yourself with the people closest to you who are pillars of support when you need them. Libra, do not put a half-hearted effort into self-care this week. You deserve to pamper yourself to the fullest level right now. Book that spa appointment or getaway. You might be caught in a daydream this week, Scorpio, which typically is not your modus operandi. It’s alright to let the brain wander a bit as long as you come back down from the clouds. Sagittarius, are you able to work from home this week or take some PTO? You likely can use the opportunity to avoid crowds for a while until your energy stores build up.
CAPRICORN – Dec 22/Jan 20
People often appreciate your frank way of sharing information, Capricorn. However, this week you may need a little more finesse. Don’t be too blunt when conveying ideas.
Aquarius, shift your focus from what you lost or missed out on to all of the things you have and enjoy. A simple change of perception can do a world of good. Things could be so much easier if you go with the flow instead of swimming upstream like salmon, Pisces. This is not a battle you want to pick this week.
FAMOUS BIRTHDAYS OCT. 22 OCT. 23 OCT. 24 OCT. 25 OCT. 26 OCT. 27 OCT. 28
Sub Urban, Music Producer (24) Emilia Clarke, Actress (37) Daya, Singer (25) Adam Goldberg, Actor (53) Seth McFarlane, Actor (50) Lonzo Ball, Athlete (26) Brad Mondo, Stylist (29)
REAL ESTATE SHOWCASE
Wednesday October 25, 2023
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Why It Pays To Work With A Real Estate Agent Metro Media Equity, pre-approval, contingencies, appraisal. These are terms associated with buying real estate, but even seasoned home buyers may not fully understand them. Navigating the real estate market can be challenging, but in today’s economic climate, marked by inflation, high interest rates and high home prices across the country, it is more important than ever to understand the minutiae that is involved in buying and selling property. That’s just one of many reasons why buyers and sellers can benefit from the help of a seasoned real estate professional.
Types Of Real Estate Professionals
Many people use the terms real estate agent, real estate broker and Realtor interchangeably. While these professionals handle many similar tasks, Contributed photo by Metro Media
See AGENT, Page 7
HARRISONBURG
582 Seventh Street, Luray
501 6th Street, Grottoes
3 bedroom Brick ranch. Attention investors! Spacious fenced backyard, large shed. $175,000 #646551
Crownpoint is Harrisonburg’s latest and greatest 55+ Retirement Community. We offer a maintenance-free lifestyle with many amenities and activities to keep our residents active both physically and mentally. We offer 3 luxurious housing options for lease: duplexes, townhomes (with multiple layout options), and apartments coming soon! We only have two duplexes left still available for lease! Call or text Gordon today to schedule your private tour of our units and campus! 540-229-4307
182 Harper Street, Weyers Cave
4/5 bedroom, 3 full bath home in Harshbarger Subdivision. 2,170 sq. ft. plus attached garage. Large sunroom & spacious back yard. $325,900 #645808
Welcome to your dream valley retreat! 4 bedroom, 2 bath home with 2,219 sq. ft. on .51 Acre, 2 car garage/ Perfect for full time or Air B & B just moments away from all amenities. $419,900 #646240
225 Maple Avenue, Timberville
3 bedroom ranch with full, partially finished basement. Fenced backyard, kitchen and bath remodeled in last few years. Hardwood, pellet stove, newer roof. $249,000 #645473
2 Acres of development potential in City, Corner of Smithland and Old Furnace Road, lots of road frontage, borders I-81, great visibility. $400,000 #645167 LAND FOR SALE
.60 Acre, Grottoes - #183290.............$60,000 .78 Acres, Rockingham - #613273....$80,000 2 Ac, Development Land, H’burg #645167 ................$400,000
.78 ACRE BUILDING LOT In Rockingham County, elevated with great views, close to all amenities. Perfect for walk out basement. #613273 $80,000
Thinking of Buying or Selling? Give us a call…we’re selling homes! VISIT MORE HOMES AT www.nancybeahmrealestate.com
Nancy Beahm Real Estate 1750 South Main Street, Harrisonburg, VA 22801
Office (540)433-6666 • Fax (540)433-0455
nbeahmrealestate@aol.com • www.nancybeahmrealestate.com
David Crull .............540-578-4022 Gordon Cowan ......540-229-4307 Amos Agyekum.....774-243-4082 Dylan Meadows ....757-503-2313 Jim Crawford ........540-271-3301 Ray Barnes ............540-820-7900
John Clinedinst ............. 540-810-9307 Corri Wrenn Collins ...... 540-820-3685 Annie Barnes Anhold.... 540-820-2669 Judy Derrow .................. 540-421-9603 Nancy Beahm ................ 540-433-6666
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Wednesday, October 25, 2023
REAL ESTATE SHOWCASE
What To Know About Landscape Lighting Metro Media Home improvement trends come and go, and one trend that has become wildly popular in recent years is recognizable in yards every night. Landscape lighting has transformed how people see and enjoy their properties at night, making it one of the more sought-after upgrades among modern homeowners. Curb appeal is often seen through the lens of how homes appear during daylight hours, but landscape lighting can make homes look better and more modern, and potentially safer, after the sun goes down. With such potential, landscape lighting is worth exploring for homeowners looking to upgrade their properties.
Are There Different Types Of Landscape Lighting?
When considering landscape lighting, homeowners should know that there are various options to consider. According to the lighting experts at Lumens, spotlights project a concentrated and narrow beam of light that’s usually around 45 degrees. Spotlights are often chosen to highlight specific features on a property, like a component of the landscaping. Individuals who want to cast light over wider, more general areas may consider floodlights, which Lumens notes spread light up to 120 degrees. Inground lighting is among the more sophisticated landscape lighting options. Lumens notes that inground lighting illuminates the whole of a tree or structure, often creating a dramatic look. These circle-shaped lights also are great at illuminating walkways and driveways. Post lights are another outdoor lighting option, and these are often used to light up long walkways and pathways so it’s easier and safer to navigate dark areas at night.
Is Landscape Lighting A Job A Diyer Can Handle?
Many homeowners consider a doit-yourself approach when pondering a potential home renovation, and
See LIGHTING, Page 7
Contributed photo by Metro Media
FAIR-HOUSING NOTICE
We are pledged to the le�er and spirit of Virginia’s policy for achieving equal housing opportunity throughout the Commonwealth. We encourage and support adver�sing and marke�ng programs in which there are no barriers to obtaining housing because of race, color, religion, na�onal origin, sex, elderliness, familial status or handicap. All real estate adver�sed herein is subject to Virginia’s fair housing law which makes it illegal to adver�se any preference, limita�on or discrimina�on because of race, color, religion, na�onal origin, sex, elderliness, familial status or handicap, or inten�on to make any such reference, limita�on or discrimina�on.’ This newspaper will not knowingly accept adver�sing for real estate that violated the fair housing law. Our readers are hereby informed that all dwellings adver�sed in this newspaper are available on an equal opportunity basis.For the hearing-impaired, call (804) 367-9753. E-mail fairhousing@dpor.virginia.gov. Web site: www.fairhousing.vipnet.org
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REAL ESTATE SHOWCASE
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to recreate these features. 3. Outdoor kitchen: A luxury indoor kitchen is still a major draw for buyers, but increasingly people are seeking properties that also maximize outdoor entertaining spaces. Having an outdoor kitchen with built-in grill, sink, counters for food preparation, and a refrigerator or wine chiller may be coveted. When an outdoor kitchen is near amenities like a spa, grand patio, pool, and other outdoor living spaces, the home really will beckon buyers. 4. Saltwater pools: Pools have both pros and cons at resale. Therefore, sellers should speak with a realtor before
installing a pool simply to make a home more appealing. However, if there already is a pool, converting the set-up to a saltwater system may win over buyers. Saltwater systems rely on fewer chemicals and proponents say the water feels more silky and less irritating. 5. Upgraded owner’s suite: An owner’s suite complete with luxury spa bath, walk-in closet with built-in storage, sitting area, and potentially access to an outdoor space will win raves with buyers. Selling a home today is a bit more challenging, but luxury home features can tip the scales in sellers’ favor.
commission from agents in addition to Why Work With A Real Estate his or her own commissions, according Professional? there are some notable distinctions be- to Investopedia. Homeowners may wonder why they tween them. A Realtor is a registered should seek the services of a real estate term used to describe a real estate pro- Buyer And Seller agent, broker or Realtor¨. That’s particfessional who is a member of the NaA professional may represent either ularly so for sellers, as buyers typically tional Association of Realtors. These in- the buyer or seller or both. A buyer’s do not pay a real estate representative dividuals must adhere to a strict code of agent is negotiating for the buyer in any money. ethics, and have access to market data the transaction, while a seller’s agent • Expertise: Considering that buying and transaction management services negotiates for the seller. Real estate and selling a home is one of the biggest unique to this specific trade organiza- professionals also can represent both financial transactions one will make, it tion. A real estate agent is licensed to parties, known as dual agency. Typi- makes sense to leave it in the hands of help people buy and sell real estate, cally this does not occur in the same experienced professionals. and is paid a commission when a deal transaction, as that can create a conflict • Price a home right: Real estate prois completed. A real estate broker does of interest. Commissions typically fall fessionals will conduct a market analythe same jobs as an agent, but is also li- between 5 and 6 percent on real estate sis and look at ÒcompsÓ in the area to censed to work independently and may transactions, an amount that is split by determine a price that is fair and will employ his or her own agents. The bro- all real estate professionals working on help a house move. When working with ker also may get a percentage of the the transaction. buyers, the agent or broker also will be
able to help them come up with a reasonable offer price. • Access to MLS: Agents and brokers have access to the Multiple Listing Service, which is widely used across the United States for listing available properties. It helps sellers sell faster and will enable buyers to view multiple properties all in one database. • Negotiations: Leaving negotiations to a third party removes emotion from the transaction and can help everyone involved resolve issues and agree on acceptable terms. Buying and selling real estate is a complex process. Real estate professionals can simplify the process and make it more enjoyable for buyers and sellers alike.
seasoned DIYer, but installing a new fixture is a job best left to the professionals. Homeowners whose homes currently have no or very little landscape lighting are almost certainly better off working with a professional. Solar lighting that does not require any electrical work can be installed quickly and easily by anyone, but such options may not provide the look homeowners are aiming for.
ample, homeowners may want a little extra light during a party, but less when relaxing alone outside at night. Dimmers allow homeowners to adjust as necessary. Landscape lighting is a popular home renovation trend. Homeowners considering adding landscape lighting to their property are urged to work with a skilled professional to devise and install a set-up that makes their homes more appealing at night.
Luxury
FROM PAGE 4
is caused by high interest rates, sellers not wanting to budge on prices, individuals wanting to sell but not being able to afford other homes, and a general decline in inventory related to each of these factors. Individuals who are in position to buy right now may be more selective in what they are seeking in homes, particularly if they’re spending top dollar. Current homeowners planning to put their homes on the market may want to consider these five luxury renovations to set their properties apart.
Agent
FROM PAGE 5
Lighting
FROM PAGE 6
a landscape lighting project is likely to inspire such curiosity as well. The home experts at HGTV note that the feasibility of DIY in regard to a landscape lighting project depends on the type of lighting homeowners want to install and where they want to install it. Replacing an existing electrical fixture may be well within the skill of a
1. Smart home features: It’s now common for new home builders to include smart home technology when building. Advanced home tech, like facial recognition for doors, intuitive home assistants, smart lights and outlets to control appliances from a smartphone app, and similar offerings can make a home more attractive. 2. Modern open floor plans: Even though there has been some shift to buyers wanting homes with delineated borders, most still are drawn to those with open concepts. Those who are selling may want to investigate where they can open up rooms or take down walls
Wednesday October 25, 2023
How Much Lighting Is Necessary?
The amount of lighting homeowners want to install is up to them. If the home currently has little or no landscape lighting, a consultation with a professional can help to determine how much lighting to install and where to install it. When discussing landscape lighting, homeowners may want to inquire about dimmers. Dimmers can increase or decrease lighting depending on the situation. For ex-
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Wednesday, October 25, 2023
REAL ESTATE SHOWCASE
370 Neff Ave., Suite V, Harrisonburg, VA 22801 O 540-442-7000 C 540-476-1216 | F 540-442-7009 www.trobaughgroup.com
SOLD
3375 Wellsleigh Place, Rockingham
5677 Niswander Lane, Rockingham
3491 Seneca Road, Rockingham
1786 Fadley Road, Weyers Cave
An intrinsic commitment to detail has INTRIGING CREATIVE CONCEPT Welcome to your dream home in the Welcome to this one owner, absolutely created this exquisite home! On over post and beam contemporary. This serene Lakewood Subdivision! This stunning custom built home, situated 2 tranquil acres sited away from the exquisite custom-built brick ranch on 1.73 acres that offers the ultimate street for privacy, this offering will custom built one owner home is offers the perfect blend of elegance level of comfort and privacy! 5 please the most discerning buyer. absolutely one of a kind! 4 bedrooms, 7 bedrooms, 5 full and 2 half baths. 3 full baths. MLS# 644225 $795,000 and comfort. 7 bedrooms, 4 full baths. bedrooms, 3 full baths, 1 half bath. MLS#645099 $699,000 MLS# 643462 $695,000 MLS #618993 $1,075,000
UNDER CONTRACT UNDER CONTRACT
108 Mirandy Court, Bridgewater
1706 Central Avenue, 104 Wexford St, Staunton Harrisonburg This incredibly spacious, all-brick, Welcome to this inviting and spacious SPACIOUS, CONVENIENT AND home in Winnbrook Subdivision! This 2-story home features a comfortable 1368 Bluewater Road, layout, cozy family room with a fireplace, meticulously cared-for residence BEAUTIFULLY MAINTAINED! This Rockingham bedrooms that are generous in size and offers the ideal blend of convenience one has been professionally cleaned Nicely updated new listing in a relaxing backyard that offers serenity and tranquility.4 bedrooms, 3 full and ready for you to move in. 5 Lakewood. Call agent for details. Nina and privacy. 4 bedrooms, 2 full baths, 1 baths, 1 half bath. MLS#645542 bedrooms, 3 full baths. MLS#: 644823 Zotov, 540-421-4851. $599,000 half bath. MLS# 643893 $529,000 $475,000 $424,900
SOLD
3768 Boundary Run Rd, Gum Spring
548 E. Wolfe Street, Harrisonburg
SOLD
SOLD
556 E Wolfe Street, Harrisonburg
0 Tanners Court, Rockingham
This beautiful home sits on a 2.08 acre STEP BACK IN TIME! Welcome to this partially wooded lot on a cul-de-sac in 1920’s charming Bungalow conveniently This 1938 brick home has stood the Come build at Meadowbrook--on this Boundary Run subdivision. As you enter located in the city of Harrisonburg. This test of time, still attractive, still inviting, beautiful lot with mountain views!!! Build your dream house only minutes from the the home, light fills the open floor plan eclectically decorated gem boasts making it the perfect space to entertain its own unique character, making it a it has most recently been a rental city, & get that country feel but have easy guests. 3 bedrooms, 2 full baths. one-of-a-kind home. 3 bedrooms, 3 full property.4 bedrooms, 2 full baths. access to interstate 81 and Harrisonburg. MLS# 645739 $310,000. 0.68 acres. MLS #639285 $79,000 baths. MLS# 644135 $329,000 MLS# 635667 $465,000