Archives: November 2014

Thanksgiving Weekend at Wintergreen

Wintergreen snowThanksgiving is a time for family, friends, food, and relaxation.  Enjoy it all at Wintergreen!  The snow is already falling, which makes the Blue Ridge Mountains an idyllic setting for the holidays.

Winter weather started early this year, which is fantastic news for Wintergreen lovers!   This morning it was reported that we have 2-3 inches of natural snow on the ground, in addition to what the snow machines have been putting out since last week!  Chilly weather brings people together, and we hope that your home away from home in Wintergreen is full of warmth this holiday weekend.

Wintergreen Events over Thanksgiving Weekend

Whether you want to spend some time on the slopes, participate in a wreath-making workshop, or snuggle up with a cup of cocoa and a good book, there is lots to do in Wintergreen this Holiday weekend.

We have compiled a list of some of the great events happening here this week:

Discovery Ridge Adventure Center
Fun for the whole family!  Indoor activities include video games, inflatables, pool table, air hockey, and more.  Outdoor activities include a rock climbing wall, miniature golf, bungee trampoline, tubing carousel, and more.
Wednesday, November 26, 2014 @ 12:00-7:00 pm (indoor)
Friday, November 28, 2014 @ 10:00 am-6:00 pm
Saturday, November 29, 2014 @ 10:00 am-6:00 pm
Sunday, November 30, 2014 @ 10:00 am-4:00 pm

Turkey Day 5K
Net proceeds from this run benefit the Nelson County Community Fund 
Where: Devils Knob Golf Course
When: Thursday, November 27, 2014 @ 9:00 am

Annual Ski Swap
Buy or sell used skis, boots, snowboards, and ski clothing
Where: Lookout Building
When: Friday, November 28, 2014 @ 10:00 am-3:00 pm

Grand Illumination
Where: Blue Ridge Terrace Courtyard
When: Friday, November 28, 2014 @ 6:30 pm
Cost: FREE

Opening Day on the Slopes

Snow is on the ground here in Wintergreen!  It’s time to enjoy some winter sports and have some fun with the whole family.
Skiing and Riding on 5 trails with 2 lifts
When: starting Friday, November 28, 2014 @ 9:00 am-5:00 pm
The Plunge Tubing Park
When: starting Friday, November 28, 2014 @ 12:00-4:30 pm

Find more at the Wintergreen Resort website.

Here to Help You Find Your Wintergreen Vacation Home

There is always something to see and do in Wintergreen.  Would you like to learn more about how to find your dream vacation getaway for the holidays?  The Chase Team can help!  There are great homes available now in Wintergreen, VA.  Contact us today!

Until next time,
Brian

Wintergreen VA Real Estate Market Shows Gains in Fall 2014

Wintergreen Home Buying 1Local home sellers on the Wintergreen, VA real estate market are feeling fairly encouraged since the latest market data has come in.

After all, the data shows an unmistakable increase in active listings. And closed sales are also showing year-over-year increases.

Meanwhile, closed sales and active listings are both ahead of the five year average, which is an encouraging sign indeed!

Continue reading to learn more about the current state of the housing market and how it may impact you as a Wintergreen home seller.

A Closer Look at the Wintergreen Housing Market

Here’s an overview of the latest data report on Wintergreen:

  • There were 252 active listings in October.
  • The number of active listings was up 14 percent year-over-year in October.
  • There were 27 new listings in October.
  • That figure was up 42.1 percent year-over-year.
  • There were 14 closed sales in Wintergreen in October.
  • The number of closed sales has increased 16.7 percent year-over-year.
  • Meanwhile, data indicates that the five-year average for active listings is 240, meaning that listing activity was
  • higher than the five year average in October.
  • And the five-year average for closed sales was 13, meaning that the closed sales activity is also higher for
  • October than the average.
  • The median sales price for all homes in 22958 during the month of October was $256,500, up 15.3 percent
  • from October 2013.
  • Meanwhile, the median sales price for all detached homes was $310,000, up 11.1 percent from last year.
  • Finally, the median sales price for all condos in 22958 was $173,000, down 16.8 percent from last year.

How Can I Help You Sell Your Wintergreen Home

Save for recent condominium sales activity in Wintergreen, all housing market activity in Wintergreen lately seems to be favoring the home seller.

To really capitalize on this recent activity and get the best price for your property, you’ll want to work with an experienced REALTOR® who knows the local housing market exceptionally well.

That’s where I can help! Contact me, Brian Chase, today and I would love to start working on a comprehensive and unique marketing plan for you that’s going to get your home sold quickly – and for the best price possible.

Until next time,

Brian

More US Home Buyers Returning to Market Because of Easier Mortgage Rules, Stable Rates

US Home Buying 2More and more home buyers are returning to the US housing market because they’re noticing favorable market conditions.

Specifically, buyers are feeling more comfortable about navigating the market thanks to interest rate stabilization and easier mortgage rules, according to a recent article by Reuters.

This is fantastic news for the overall health of the housing market. After all, it suggests that the national real estate market is likely to become more stable over time.

Trends That US Home Buyers Should Be Aware Of

According to the recent Reuters article, new home builders D.R. Horton Inc and Toll Brothers Inc. are seeing jumps in home buyer demand.

And they’re not the only ones.

In fact, new home builders everywhere are reporting improved home buyer enthusiasm, which has been a great relief to many of the companies after an underwhelming spring home selling season.

And pre-owned home sales are also reflecting similar home buyer enthusiasm levels.

Here’s what else the national home buyer should know about recent trends on the housing market:

  • Interest rates decreased in October to their lowest levels since June 2013
  • In fact, these interest rates are still considered to be at historic lows.
  • The Dow Jones U.S. home construction index increased about 4 percent this year so far. And this increase came after the index already doubled between January 2012 and January 2014.
  • Meanwhile, new proposed rules will allow buyers to purchase homes with down payments as low as 3 percent.

The proposed rules are great news for first-time home buyers, who are a key part of any housing market recovery. In fact, some experts believe that the housing market recovery will speed up as soon as more first-time home buyers enter the market.

And a faster housing market recovery is good news for everyone!

Meanwhile, In Canada…

The real estate market conditions in Canada are looking just as encouraging, with Canadian resale home prices continuing to rise in October.

Prices were up 5.4 percent from a year earlier, which is right on par with September’s year-on-year gain.

What’s more, October marked the 11th month in a row that the index has increased. Still, it should be noted that prices rose in only five out of the 11 metropolitan markets surveyed.

Prices rose 1.2 percent in Vancouver and rose 0.5 percent in Calgary. Toronto saw prices decrease 0.2 percent.

Your Central Source for Housing Market News

Check back here soon for more valuable updates on the current state of the national housing market and how they may impact you as buyers and sellers.

We pride ourselves on offering you relevant and reliable information that will help you make the best real estate decision possible for you and your family!

US Home Sales Rose In September, Report Shows

US Home Selling 7U.S. homes sold at a faster rate in September than any other time this year, a recent report from the National Association of Realtors said.

Evidently, sales of existing homes increased 2.4 percent from the previous month to a seasonally adjusted annual rate of 5.17 million.

Experts are saying that this increase is a great sign that the housing market is picking up and moving past the slowdown that started in mid-2013.

More Encouraging Signs on the National Housing Market

The National Association of Realtors provided some additional information that helps paint a more complete picture of the current state of the housing market:

  • The sales rate has dropped 1.7 percent over the past 12 months.
  • First-time home buyers comprised about 29 percent of all sales. This is below the historic average of roughly 40 percent.
  • Median home prices increased 5.6 percent over the last 12 months to $209,700.
  • September sales increased in the South and West compared to the previous month.
  • Meanwhile, sales increased slightly in the Northeast and dropped in the Midwest.
  • Nationally, the share of purchases by investors decreased from 19 to 14 percent year-over-year.
  • The report projects that 4.94 million existing homes will be sold this year, down 3 percent from 5.09 million in 2013.
  • Generally speaking, real estate experts say 5.5 million existing home sales is a healthy market.
  • Meanwhile, housing starts increased 6.3 percent to a seasonally adjusted annual rate of 1.017 million homes, although much of that was new apartment buildings.
  • Apartment construction has jumped 30.3 percent over the past 12 months, almost three times the rate of growth for single-family houses.

Many Forces Are at Work to Create These Conditions, Analysts Said.

For instance, over the last year, fewer investors have entered the market. Luckily, their pullback has been offset by existing homeowners who are moving up to more expensive properties or downsizing as empty nesters.

Meanwhile, some would-be buyers have been kept out of the market because of rising prices through much of 2013, weak income growth and tighter credit standards.

Experts are now predicting that the worst of the housing market recession is over but that the economy and housing market will likely grow in fits and starts.

One development that might help with this growth is the fact that the federal regulator overseeing Fannie Mae and Freddie Mac is considering creating an option for lower down payments so more people can qualify for a mortgage.

And because the average 30-year fixed rate mortgage dropped below 4 percent recently, experts are expecting more buyers to enter the market.

In Fact, Many Signs Suggest Now Is a Great Time to Be A Buyer

For instance, online real estate brokerage Redfin said that only 44 percent of its offers in October faced bidding wars. This is down form a high of 75 percent in March 2013.

Meanwhile, more homes are expected to become available on the market thanks to many investors’ plans to sell for tax reasons at the end of the year.

So if you’ve been sitting on the fence about whether to invest in property, now is a great time to do so!

Your #1 Real Estate Resource

We believe that knowledge is power and so we work hard to provide you with the most accurate and up-to-date information on the national housing market. Hopefully you found today’s report helpful!

Check back here soon for more valuable insight on the recent trends on the national housing market and how they may impact your efforts as a buyer or seller!