FUNKHOUSER REPORT - Summer 2017 by Kemper Funkhouser

The Magazine For Real Estate In The Shenandoah Valley

FUNKHOUSER

REPORT

Summer 2017

S E X A T E

T A T S E L Taxes Are On The Rise.

A E R

Where Does The Money Go? Page 4

THE PRICE OF AN INVITING COMMUNITY INVESTING IN REAL ESTATE EXCEPTIONAL PROPERTIES

FUNKHOUSER REAL ESTATE GROUP

OUR TEAM

FUNKHOUSER REAL ESTATE GROUP HARRISONBURG OFFICE l 540-434-2400 WOODSTOCK OFFICE l 540-459-4002

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Kemper Funkhouser

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Interested In A Career In Real Estate? suzanne bothamley

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We are happy to discuss with you how to become a successful real estate agent and make sure this is the right fit for you. Contact Pete Laver at 540-434-2400 or Pete@FunkhouserGroup.com.

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VIEW ASSOCIATE PROFILES ONLINE @ fUNKHOUSERGROUP.COM/ASSOCIATES All associates are members of the National Association of REALTORS ® and abide by the REALTOR ® Code of Ethics.

FUNKHOUSER REPORT

welcome R

KEMPER Funkhouser chief operating officer realtor, mba

eal estate taxes have been a hot topic in local news as our communities are facing tough decisions to meet the needs of a growing population. The City of Harrisonburg is currently considering a second high school that may come with a price tag over $100 million dollars, equating to a projected real estate tax increase of about 17 cents. This proposal would increase the average property owner’s tax bill about $28 dollars per month. In ‘The Price Of An Inviting Community’ (see story, page 4), we take a look at how real estate taxes are used, how they are calculated, the assessement appeal process and much more. We also discuss the Stormwater Utility Fee that some localities have implemented to address federal requirements. Additionally, real estate continues to be a good investment and one that can create a steady stream of cash flows. In ‘Investing In Real Estate’ (see story, page 8), we explore how the combination of a great property and a competent property manager can improve your financial portfolio.

contents 4

The Price Of An Inviting Community Local Real Estate Taxes Are On The Rise

Investing In Real Estate Opportunities Exist In Today’s Market

Exceptional Properties A sampling of luxury properties in the Shenandoah Valley.

Commercial Property Portfolio Properties prime for development and business opportunities.

new associate

Whether you are looking to buy, rent or sell property, call one of our real estate professionals who can guide you through each step of the process. SABLE Ponn realtor®

We are proud to welcome Sable Ponn to our team of real estate professionals. Sable is a native of Page County. She earned a BBA in Business Management with a minor in Real Estate at Radford University in 2017. Sable worked her way through college helping to remodel houses for rental and re-sale. She has previously worked as a customer service specialist for a financial services business.

540-860-8966 l Sable@FunkhouserGroup.com

FUNKHOUSER REAL ESTATE GROUP l www.FunkhouserGroup.com

HARRISONBURG OFFICE l 401 University Boulevard, Harrisonburg, VA 22801 l 540-434-2400 WOODSTOCK OFFICE l 1010 Ox Road, Woodstock, VA 22664 l 540-459-4002

Cover Photo: Bluestone Elementary School in the City of Harrisonburg

FUNKHOUSER REPORT is created and published by Funkhouser Real Estate Group. For information on being added to the mailing list, please e-mail your interest to Kemper@FunkhouserGroup.com or call 540-434-2400. © Copyright 2017. Funkhouser Real Estate Group. All rights reserved. This publication and its contents are protected under U.S. Copyright laws. Although care is taken to ensure the accuracy of the content, we cannot be responsible for errors, omissions, prior sales, changes to property status or withdrawls. Equal Housing Opporunity. This is not intended to solicit property currently listed.

FUNKHOUSER REAL ESTATE GROUP

The Price Of An Inviting Community

Bluestone Elementary School under construction in the City of Harrisonburg.

The next time you have to slip a tax payment into

the mail, take a quick look around your neighborhood. Consider the local park where you meet family and friends, the 911 system to call if you have an emergency. How about the fire hydrant sitting dutifully near the sidewalk, the school buses rumbling down the street or the police car cruising by. What about those bike paths, local pools and recreational facilities? All these are paid for, at least in part, by your tax dollars, and in our area the biggest source of tax revenue comes 4

FUNKHOUSER REPORT

from real estate and personal property taxes. A good way to consider taxes is to think of them as paying for the community amenities that make our area a great place to live. About 41 percent of Harrisonburg’s budget and 43 percent of Rockingham County’s, come from real estate taxes, based on current budgetary projections. The city and county’s real estate tax rates fall somewhere in the middle of both the state and national averages.

According to the website tax.org, Virginia’s median 2017 property tax averaged .74 percent of assessed value, putting Harrisonburg above the median and Rockingham County at the median. “Our local governments face a real challenge in meeting demands of a growing population while trying to preserve a tax friendly environment for residents and businesses. I expect people will move to where they believe they are getting the best return on their tax dollars,” says Kemper Funkhouser, COO of Funkhouser Real Estate Group. From The Outside Looking In Valley real estate taxes are seen favorably, especially for buyers coming from Northern Virginia or the Northeast. New Jersey, for instance, has some of the highest rates in the nation, says John Mauzy, an Associate Broker with Funkhouser Real Estate Group with more than 20 years experience as a REALTOR®. Owners of a $200,000 home in New Jersey would pay about $4,760 or $397 per month. The owner of a similarly priced home in the valley will pay around $1,700 a year in real estate taxes (based on the City

of Harrisonburg rate of .85) or about $142 per month. Northern Virginia boasts the commonwealth’s highest real estate tax rates and Southwestern and Southern Virginia have the lowest. The valley is somewhere in the middle. The farther south one moves in Virginia, the lower the median taxes levied on real estate, which is also reflective of lower housing prices. For sellers, local rates are a plus. Potential buyers moving from out of state, Mauzy says, are usually pleasantly surprised by the lower rates. David Emswiler, Managing Mroker for Funkhouser Real Estate Group’s Woodstock office, echoes this sentiment. “Those buyers moving up or down [in the market] are aware of current tax rates,” he says. For those coming in from Northern Virginia, it has a positive impact. He quotes them as saying, “Good grief. You should see what we were paying there.” Continued on page 6

What if I disagree with the tax assessment on my property? Occasionally, home or business owners disagree with real estate assessments made by the commissioner of revenue’s office. For instance, what if your assessment is much higher than your neighbor’s—and both houses have the same floor plan? What if the assessment is significantly higher than your original purchase price? What’s the difference? What can you do if you and the commissioner’s office don’t see eye-to-eye on your property assessment? The first step is to pick up the phone, says Todd Rhea, an attorney with Clark & Bradshaw. “Lots of times, these issues can be handled informally.” You can call the commissioner of the revenue’s office, identify your property and explain why you disagree. It’s also a good idea to check basic facts. Did the assessor get the square footage right? Is the number of bedrooms correct?

If you’re not satisfied after an informal inquiry, your next step is to submit a formal appeal by filing an “application for review of real estate assessment.” Forms are available from the local commissioners’ offices and the city’s form is available online. Each jurisdiction has a different deadline for appeal, so check with the local office. If your application for review is denied, you can appeal your assessment to the local board of equalization. Harrisonburg’s threemember board and Rockingham County’s five-member board are both made up of local citizens appointed by the Circuit Court to hear appeals. By state statute, board members receive instruction from the Commonwealth’s Department of Taxation. This board determines whether or not your property assessment is fair and should stand, or whether it should be adjusted.

The majority of cases, Rhea says, are resolved by one of these three steps. “An average appeal for a reassessment evaluation,” he says, “is usually measured in several hundred dollars.” For those disagreements not resolved satisfactorily, a property owner can appeal to the local circuit court, a step that might require the help of an attorney. Generally, however, this step is necessary only when significant disagreements occur over assessments of large commercial properties or developments, Rhea says. Rarely do individual homeowners need to seek this kind of relief.

Todd Rhea

Attorney Clark & Bradshaw

FUNKHOUSER REAL ESTATE GROUP

Reservoir Street construction project. Trending Upward

One Extra Bill From The City

With new budgetary demands, real estate taxes are likely to rise.

Harrisonburg adds one fee to resident’s real estate tax bills that the county does not—the stormwater utility fee, first imposed in 2015. Revenue from the fee is used by the city to reduce pollution, manage stormwater runoff, and protect local water sources as part of a larger Stormwater Improvement Plan. It pays for the city’s mandatory compliance with EPA regulations, as well as the people and programs to meet regulatory goals.

“As the tax rate goes up, it does affect buyers,” Mauzy says. For some buyers, “It’s a factor if they’re considering the city or the county….There’s going to be more and more concern about the differentiation in tax rates between the city and county.” The annual average increase in the real estate tax rate over the last 10 years has been 2.8 percent in the city. Over the last five years, that number has increased by 4.36 percent, and the new rate, imposed in December, represents an 8.97 percent one-year increase. The city’s recent decision to build a new high school will likely lead to further increases in real estate taxes. Mauzy adds: “A buyer’s decision is based on multiple factors, taxes being only one of many.” These are just the kinds of amenities homebuyers often consider in choosing localities, which is good for buyers and sellers. “People who want to live in the city do so for other reasons, including parks, schools, amenities and proximity to jobs,” Mauzy said, “Still, the trend is up.” While he does not see an impact on the housing market presently, he expects it later. “Right now, we’re still low compared to other areas.”

Valley Mall faces impervious area fees.

FUNKHOUSER REPORT

Think of it this way: During a heavy downpour, runoff from parking lots and roofs carry with it all sorts of pollutants from trash to chemicals used to treat winter roadways. This water eventually ends up in local streams. The stormwater utility fee, allowed by state statute, is collected from all city property owners and is based on the amount of impervious surfaces on their property; $6.00 per every 500 square feet of qualifying surface area. These surfaces include roofs, driveways, patios, sidewalks and parking lots—any surface that impedes the natural flow and absorption of water. Unlike real estate taxes, nonprofit owners like churches and charities are not exempt. The only exemptions are for city-owned structures and roads, and for JMU, which meets the same EPA regulations independently of the city. While the fee is relatively small for most homeowners, developers and owners of large businesses or large housing complexes pay higher fees. Valley Mall, for instance, with a million-plus square feet of impervious area, contributes more than $17,000 per year.

The city’s website features an interactive tool that maps every property in the city with the measure of its impervious surface and the calculated fee. While all property owners pay the fee, the burden falls heaviest on commercial properties. For these owners, says Nathan Blackwell, an engineer with Blackwell Engineering and a Funkhouser Commercial Associate, the fee, just like the city’s business tax, is the price of doing business. It’s part of the equation. The tax “is not a better or a worse. It’s just different,” he says. The impact, though, is one that businesses consider. “If you’re going to build a big industrial complex, you’re going to the county,” Blackwell says, “because of the fee—and because there’s limited space and a shortage of large parcels [of land] left in the city.” The valley continues to be a desirable place to live. The real estate market and home values remain strong, even with increases in the city and county real estate taxes. CONTRIBUTORS

JOHN MAUZY

realtor®, associate broker

DAVID EMSWILER

realtor®, mANAGING broker

NATHAN BLACKWELL realtor®, P.E.

Real Estate Taxes Rates In Virginia Harrisonburg City = .85 Rockingham County = .74 Shenandoah County = .60 Augusta County = .58 Page County = .66 Fairfax County = 1.13 Virginia Beach City = 1.00 Prince William County = 1.125 Loudon County = 1.125 Richmond City = 1.38 Henrico County = .87 Charlottesville City = .95 Albermarle County = .84 Winchester City = .91

A primer of the basics of local real estate taxes While no one enjoys paying taxes, understanding them may make them more palatable. Who decides what taxes you pay? The City Council or the Board of Supervisors within the particular jurisdiction. All taxes, however, are subject to various state regulations and taxing power is granted by the General Assembly. For tax purposes, real estate is defined as land and buildings. Property owned by governments or nonprofit entities, such as schools, universities or churches, are nontaxable. As each governing body determines the local tax rate, they consider the locality’s budgetary needs and make decisions on the community’s needs. How are real estate taxes calculated? Real estate taxes are determined by a simple calculation of two numbers: a property’s assessed value and the local real estate tax rate. If a property is assessed for $200,000 in the City of Harrisonburg at the current rate of .85 cents for every $100 dollars, the owner would pay $1,700 to the local government. What’s the difference between an assessment and an appraisal? Assessments are valuations given by the local government and are based on the general specifications of the property and the general movement of the market. Appraisals include greater detail about the specific property and establish value based on recent sales of similar properties. Who handles real estate taxes? The Commissioners of Revenue oversee the regular property assessment and send out notices of assessment. While you pay your tax bill to the city or county treasurer, any questions and concerns about your real estate tax assessment would be addressed to the Commissioner of Revenue offices. When are my taxes due? Most localities require payment twice a year. For the City of Harrisonburg, half is due on June 5 and the second half on December 5.

FUNKHOUSER REAL ESTATE GROUP

INVESTING IN REAL ESTATE For most homebuyers, a house is an investment in family, comfort, security and community. For some buyers, purchasing a property is a strategic financial decision. Those who invest in real estate are looking for a different kind of investment, one with benefits beyond traditional home equity. It is an investment with far-reaching benefits, opportunities and challenges.

Buying To Rent Real estate investing is attractive to investors for many reasons. From single family homes to large apartment complexes, Harrisonburg and Rockingham County offer advantages and opportunities. “It’s a very wise investment,” says Ryan Roberts, Property Manager and REALTOR® for Funkhouser Real Estate Group with more than a dozen years of experience. He knows the ins and outs of investing in local real estate, especially property to rent. When helping clients find and secure properties, Roberts is looking for properties that offer solid cash flow and strong appreciation. These properties appeal to renters who might be in the area for less than a few years, those going through a life transition, or those who are less sure of their future plans and do not want to make the full investment in a house. Renting is also an option for those with demanding jobs who simply do not want the responsibilities of home ownership. “If you’re going to be living in our area three years or more and have job security, you’re better off buying,” Roberts says. Otherwise, renting may be a good option. Nationally, rental rates versus home mortgages have 8

FUNKHOUSER REPORT

hovered near each other, according to a 2016 report in Business Insider, with Virginia mortgage rates edging out rental prices. In the Harrisonburg/Rockingham County area, the influence of large employers like JMU, Merck and Sentara RMH creates its own market. For these types of tenants, Roberts says, “We have a shortage of nonstudent rentals and a high demand.” A solid rental market exists due to more than 20,000 college students, a population which turns over every four years. Student housing, though, is only one facet of a strong rental market in the valley that is available to investors. Managing Your Investment While investing in real estate is wise, Roberts says, managing properties is not always simple. It is increasingly saddled with regulations. “Being a landlord is not as easy as it was 15 years ago In fact, it’s not as easy as it was one year ago,” he says. Changes in laws, such as the Virginia Residential Landlord Tenant Act, requires property owners to comply with scores of rules and regulations. He cites a sample of laws such as the accommodation of assistance animals and the legal

process of the Virginia Residential Landlord Tenant Act. Reflecting the old adage for home buying - location, location, location - the adage for renting property is “liability, liability, liability,” Roberts says. Managing rental property “is a lot more complicated than selling it.”

who is new to town find a nice home. It’s fun when you help that tenant find just the right place.” Buying To Flip Another type of real estate investing is the phenomenon introduced to the general public through HGTV “flipping houses” - buying properties to renovate and sell. Neal Lewis and his wife, Erica, have flipped houses in the city. It’s about “taking a house that someone else would look at and dismiss and making it appealing. There are lots of things you can do to increase appeal.” You have to know what you’re getting into, Lewis cautions. “Experience is the main component.” As a partner with Sustainable Solutions in Harrisonburg, he has extensive experience with renovations, the bulk of the company’s business.

Ryan Roberts is a Property Manager with Funkhouser Real Estate Group

It is important to know the laws and abide by them. “If there is a place where my knowledge ends,” he adds, “Funkhouser Real Estate Group has all sorts of checks in place.” These include experts with over twenty years of property management experience. Elizabeth Kistler, Chief Financial Officer for the company, is one of those expert sources. She serves on the Virginia REALTORS® Property Mangement Council and is a past recepient of the Association’s Property Manager of the Year award. “It takes a knowledge base far beyond the standard real estate licensee to competently manage real property,” says Kistler. “We require our property managers to stay up to date with the law changes and management trends through education that occurs multiple times throughout each year.” As a property manager, Roberts handles a plethora of tasks. Some of these include finding and qualifying potential tenants, preparing lease agreements, doing visual inspections, readying properties, plus handling maintenance and repair issues. A property manager does more than filling bedrooms. “You’re dealing with people.” For Roberts, who has a master’s degree in pastoral counseling, it’s helping people get settled into homes. “I enjoy helping a tenant

“There are opportunities if you can find a suitable property,” Lewis says. When real estate prices fell in 2008, there were lots of houses on the market at the right price to flip. A Limited Supply Today, finding a property at the right price to flip is much harder. While there still are opportunities out there, they are dwindling. “They are becoming few and far between with area inventories tight and prices rising,” Roberts says. In the city, it’s especially acute. Harrisonburg is still a highly desirable area for investment when the right opportunity does come along. While housing inventories continue to tighten, there will always be properties changing hands, opening the doors to savvy investors eager to jump in. CONTRIBUTORS

RYAN ROBERTS

Realtor® Funkhouser Real Estate Group

ELIZABETH KISTLER

CFO, Realtor® Funkhouser Real Estate Group

NEAL LEWIS

Real Estate Investor

ERICA LEWIS

Real Estate Investor

FUNKHOUSER REAL ESTATE GROUP

Exceptional

Properties

644 wyndham woods circle l HARRISONBURG l 654WyndhamWoodsCir.info 6 bedrooms :: 5 full baths :: 2 half baths :: 5,759 square feet :: $625,000

Absolutely Stunning home in gorgeous Wyndham Woods on 1/2 acre golf course lot. No details spared in creating this beautiful home with exquisite finishes! This truly one of a kind home is very elegant, yet equally comfortable with handcrafted hardwood pine trim throughout and thoughtful details. Many spectacular features including: Master Suite with sunroom, marble heated floors in master bath, 9 ft & vaulted ceilings, large bedrooms, marble & hardwood floors. Lovely outdoor space. Guest house and entertainment room w/custom made bar & home theater area. Suite in basement with full bath. Outdoor pavilion has stone fireplace & grilling area. Relaxing water feature. Plenty of storage!

LAURA MEASELL

540-246-2537 Laura@FunkhouserGroup.com

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620 RODEO DRIVE l HARRISONBURG l

4 bedrooms :: 4 full baths :: 2 half baths :: 5,929 square feet :: $813,000 Fabulous private hilltop home on 5 acres, gorgeous mountain and valley views with sunsets you will not want to miss. Sunroom and patio provide outside space for entertaining. The floor plan is open, bright and spacious. Great room has vaulted ceilings, fireplace, (Brazilian cherry hardwood floors throughout house) and is open to the dining room and kitchen.

LINDA MARS

540-246-1347 LMars@FunkhouserGroup.com

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141 DIAMOND COURT l HARRISONBURG l 141DiamondCourt.com 6 bedrooms :: 4 full baths :: 2 half bath :: 5,723 square feet :: $524,900

This expansive, upscale, brick Colonial in Blue Stone Hills offers a convenient City location, a spacious floor plan and amazing views from many rooms of the home, the sunroom and two large decks. Enjoy an updated kitchen with an island, granite countertops and stainless steel appliances, a breakfast nook and living room that opens up to the large sunroom.

SCOTT ROGERS

540-578-0102 Scott@FunkhouserGroup.com

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4210 LUCY LONG DR l ROCKINGHAM l 4120LucyLong.com 5 bedrooms :: 3 full baths :: 1 half bath :: 5,152 square feet :: $549,500

This gorgeous ranch home with a full walkout basement, takes full advantage of the panoramic view of Lake Shenandoah, Massanutten peak and the Blue Ridge Mountains. On the main level, there are 3 bedrooms including the master bedroom, four season sunroom, family room with fireplace, spacious eat in kitchen, formal living room and dining room.

SUZANNE BOTHAMLEY

540-578-0265 SuzanneBoth@FunkhouserGroup.com

3465 izaak walton dr l ROCKINGHAM l 3465IzaakWaltonDrive.com 4 bedrooms :: 4 full baths :: 4,817 square feet :: $499,900

Enjoy privacy, views and direct access to Lake Shenandoah from this well maintained Lake Pointe home with a full lower level apartment! This home offers spacious one-level living with a living room with fireplace, an eat-in kitchen, formal dining room, office, master suite, two additional bedrooms and a full bath plus a rec room (with laundry room) all on the main level. H

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SCOTT ROGERS

540-578-0102 Scott@FunkhouserGroup.com

1165 NELSON DRIVE l HARRISONBURG l 1165Nelson.com 5 bedrooms :: 5 full baths :: 4,460 square feet :: $549,000

This Williamsburg Colonial home was built with great detail to honor the meticulous craftsmanship of the colonial period. Upon arriving at the property you will notice the beautiful brickwork and the setting with views of the Massanutten Peak. Inside, the first floor offers a sophisticated study with fireplace, formal dining room, open kitchen and much more. Must see this in person to appreciate.

KEMPER FUNKHOUSER 540-421-3556 Kemper@FunkhouserGroup.com

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3470 HUNTINGTON SPRINGS DR l ROCKINGHAM l

5 bedrooms :: 4 full baths :: 1 half baths :: 4,690 square feet :: $625,000 :: 3470HuntingtonSpringsRd.info This beautiful all brick home on 1.85 acres is in the picturesque neighborhood of The Springs at Osceola! Luxurious landscaping, mostly level lot! Enjoy views from porch & many rooms. Elegant, yet comfortable with gorgeous hardwood floors on main level, a light filled open concept floor plan. Gourmet kitchen with highlights to include large island with seating and top of line appliances.

LAURA MEASELL

540-246-2537 Laura@FunkhouserGroup.com

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2640 KARAWOOD LANE l ROCKINGHAM l 5 bedrooms :: 5 full baths :: 1 half bath :: 5,153 square feet :: $799,900

This special and quality-built home is located on 1.24 private wooded acres and yet conveniently located in Rockingham County close to the Heritage Oaks Golf Course. This home features an Open Floor Plan with generous space, formal living and dining rooms, and a gourmet kitchen. There are 5 extra-large bedroom suites with private baths and walk-in closets. This property has a 5 car garage.

917 ox road

RYAN ROBERTS

540-908-8208 Ryan@FunkhouserGroup.com

l WOODSTOCK l

5 bedrooms :: 2 full baths :: 1 half bath :: 3,480 square feet :: $597,000 This Historic Colonial sets on 3.465 acres in town, private setting, zoned R-2, 5 bedrooms, 2 full & 1 half bath, gourmet kitchen, beautiful wood floors, wonderful views, extensive landscaping, 2 large porches-1 screened. In-ground pool enclosed with 6â&#x20AC;&#x2122; maintenance free fence. Large fenced in dog yard. Bed & Breakfast potential. H

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SHIRLEY FRENCH

540-325-4444 Shirley@FunkhouserGroup.com

2930 BROOKSTONE DR l ROCKINGHAM l 2930BrookstoneDrive.com 5 bedrooms :: 4 full baths :: 1 half bath :: 5,281 square feet :: $559,000

This spacious, custom-built brick executive home in Barrington offers exquisite finishes throughout! The custom kitchen offers a tremendous amount of work space, upgraded appliances, an eat-in dining area and a walk-in pantry. Quality flows throughout this home from the hardwood floors to the upscale trim and built-ins.

SCOTT ROGERS

540-578-0102 Scott@FunkhouserGroup.com

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1400 CHAPMAN LANDING ROAD l EDINBURG l 4 bedrooms :: 3 full baths :: 1 half bath :: 4,834 square feet :: $899,000

Amazing private gated estate. 41.8 Acres consists of 3 parcels. Beautiful vistas. Home features spacious rooms, kitchen with new appliances including commercial dual fuel range, 2 fireplaces, 2 master suites, abundant storage space, seasonal sun room & lots more. Indoor swim spa! PRIVATE AIRPORT with lighted runway plus hangar & barn.

SHIRLEY FRENCH

540-325-4444 Shirley@FunkhouserGroup.com

FUNKHOUSER REAL ESTATE GROUP

551 MYERS AVENUE l HARRISONBURG l 551MyersAvenue.com 5 bedrooms :: 5 full baths :: 2 half baths :: 2.5 acres :: 6,311 square feet :: $1,325,000 Within the home the spaces are vast. The foyer is vaulted with an open stairway to the second floor and the basement. The family room is spacious with a gas fireplace and wet bar. The open columns to the kitchen stretch the views and the tasks of meal preparation can be easily shared in this gourmet space. Many entertainment options throughout the inside and outside of the property.

KEMPER FUNKHOUSER 540-421-3556 Kemper@FunkhouserGroup.com

9421 CHERRY GROVE ROAD l LINVILLE l TideSpringBranchFarm.com 3 bedrooms :: 3 full baths :: 1 half bath :: 4,839 square feet :: $629,900

Come see the immaculate Tide Spring Branch Farm nestled on 19 acres conveniently located 20 min from Harrisonburg. Enjoy high end finishes including a master suite on the main level with a walk-in closet enhanced by a built in custom closet organizer, walk-in shower, dual vanity and a soaking tub. No details were overlooked in the large kitchen. Entertain guests in style.

FUNKHOUSER REPORT

MATTIAS CLYMER

540-246-9067 Mattias@FunkhouserGroup.com

635 FREDERICK ROAD l ROCKINGHAM l 635Frederick.com 5 bedrooms :: 4 full baths :: 2 half baths :: 5,824 square feet :: $779,000

An exceptional luxury home on the golf course in Crossroads Farm. From the picturesque panoramic views of Massanutten & the Blue Ridge mountains to the walnut floors - exquisite detail is expressed throughout. High Quality Features Include: high ceilings, custom cabinetry from the kitchen to the closets, built-ins throughout the home and crown molding in every room.

PETE LAVER

540-421-7447 Pete@FunkhouserGroup.com

174 STEEPLECHASE DR l PENN LAIRD l 174SteeplechaseDr.com 4 bedrooms :: 3 full baths :: 1 half bath :: 3,130 square feet :: $650,000

Walk in through the double stained glass doors to find your forever home. The main level has a gourmet kitchen perfect for entertaining, large living room with two story ceilings, den and dining room. Walk up the grand staircase to find all four bedrooms and large seating area. The huge master bath offers a whirlpool tub, walk in closet & more! Endless possibilities in the unfinished basement.

DANIELLE DAVIS

540-476-3553 Danielle@FunkhouserGroup.com

FUNKHOUSER REAL ESTATE GROUP

779 CLAREMONT AVE l ROCKINGHAM l 779Claremont.com 4 bedrooms :: 4 full baths :: 5,830 square feet :: $610,000

Exceptional custom home in Crossroads Farm located on the golf course. This brick home features Andean Cherry floors with black walnut inlay, coffered and tray ceilings and designer light fixtures. Enjoy a gourmet kitchen with granite counters and custom cherry cabinets. Host parties on the screened-in porch with a gas fireplace and peaceful view of the mature landscape.

DAVID GALGANO

540-820-6200 Galgano@FunkhouserGroup.com

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3858 WAYFARERS TRAIL l BRIDGEWATER l 3858WayfarersTrl.com 3 bedrooms :: 3 full baths :: 3,341 square feet :: $595,900

If you enjoy nature and privacy this is the perfect place to relax and unwind. This contemporary home features beautiful maple wood floors and interior doors. The living room features a Rumford wood burning fireplace made with stones from the property. The screened porch and patio areas are both the perfect place to enjoy the wildflowers located on the approximately 12 acres.

FUNKHOUSER REPORT

BETSY GLENDYE

540-820-6971 BGlendye@FunkhouserGroup.com

1251 WINDSOR LANE l MOUNT CRAWFORD l 1251Windsor.com 6 bedrooms :: 3 full baths :: 1 half bath :: 6,247 square feet :: $715,000

Immaculate two-story brick colonial in the Cedar Bluffs subdivision between Bridgewater and Mount Crawford. You’ll enjoy the hillside views from a beautifully landscaped 3.917 acres. New kitchen appliances, granite countertops, two remodeled baths, a powder room and fresh paint throughout on the walls, ceiling and trim. Two master suites, butler’s pantry and wine cellar.

JOHN MAUZY

540-908-7123 John@FunkhouserGroup.com

1705 BUCKINGHAM DR l ROCKINGHAM l 1705BuckinghamDrive.com 4 bedrooms :: 3 full baths :: 4,096 square feet :: $539,000

This immaculate, all-brick home in Barrington with a three-car garage on a large, private lot features an in-ground pool and a pool house with a kitchenette, dining area, sauna and full bathroom. The main level of this spacious home features a large living room, open to the dining area and upscale kitchen with cherry cabinetry and granite countertops.

SCOTT ROGERS

540-578-0102 Scott@FunkhouserGroup.com

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FUNKHOUSER REAL ESTATE GROUP

property portfolio

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Downtown Harrisonburg Office Space 100 south mason st, harrisonburg •Up to 12,000 Square Feet •Class A Space •Onsite Parking Available Call For Details Kemper Funkhouser REALTOR®

(540) 421-3556 Kemper@FunkhouserGroup.com

Convenience Store 218 Sterrett road, fairfield •I-81 Exit 200 •High Volume Traffic •Includes Real Estate & Equipment $950,000 l 1.47 acres l 3,200sf John Mauzy REALTOR®

(540) 908-7123 JohnMauzy@FunkhouserGroup.com

17.87 Acres At Massanutten Entrance resort drive, mcgaheysville •Potential Commercial Development •Restaurant, Retail, Hotel Site •Attract Visitors of Massanutten $1,750,000 l 17.87 acres Jack Rose REALTOR®

(540) 476-4626 Jack@FunkhouserGroup.com

I-81 Exit 251 Building Lot 3891 North Valley Pike, rockingham

•Across Rt. 11 From On/Off Ramp To I-81 •Near Pilot Travel Center •Fast Food / Convenience / Hotel $1,725,000 l 3.46 acres Chris Dunkel REALTOR®

(540) 405-9955 ChrisDunkel@FunkhouserGroup.com

Downtown Harrisonburg Office Space 245 E WATER ST, harrisonburg •Approx 1,250 +/- SF •Two Blocks From Court Square •3 Private Parking Spaces •$1,050 per month Kemper Funkhouser REALTOR®

(540) 421-3556 Kemper@FunkhouserGroup.com

Multi-Use Commercial Space 1000 Chicago ave, harrisonburg •4,359 Square Feet •Daycare or Pre-School Setup •Near EMU $589,000 l 1.42 acres Chris Dunkel REALTOR®

(540) 405-9955 ChrisDunkel@FunkhouserGroup.com

COMMERCIAL 20FUNKHOUSER FUNKHOUSER REPORT l 401 UNIVERSITY BOULEVARD, HARRISONBURG, VA 22801 l 540-434-2400

42 Acres Of Development Land aPPLE VALLEY ROAD, Harrisonburg •Potential Residential & Commercial Mixed Use •Easy Access to Southeast Connector Road •Great Site For Convenience & Views $6,720,000 l 3 Parcels l 42 acres Kemper Funkhouser REALTOR®

(540) 421-3556 Kemper@FunkhouserGroup.com

Residential Development MCGAHEYSVILLE ROAD, MCGAHEYSVILLE •Approved for 84 lots •County Water & Sewer •Walking and Riding Trails Call For Details Nathan Blackwell REALTOR®

(540) 908-1679 Nathan@FunkhouserGroup.com

Retail For Lease ROCKINGHAM SQUARE •Food Lion Shopping Center •Approx. 4,000 sf available •Divisible to 2,000 sf spaces Kemper Funkhouser REALTOR®

(540) 421-3556 Kemper@FunkhouserGroup.com