Fredericksburg Real Estate News Blog

Welcome to our Fredericksburg real estate news blog. Please find the most up to date realty information for the Fredericksburg, VA. area, written by Tom Smith - Century 21 Adventure Redwood. The secret to our success is providing accurate information to assist Fredericksburg home buyers and sellers with their real estate transactions.

 

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Feb. 20, 2015

Get the Best Value with Fredericksburg Homes

Historic Fredericksburg Homes image 

Fredericksburg Homes Realty is for those wanting the best residential living that Fredericksburg, VA. and the surrounding area has to offer.  Fredericksburg is rich with history that dates back well into the 1700’s as well as lavish modern day luxury living.

Over the past decade, Fredericksburg has seen transformations where older homes and communities have been torn down or remodeled to make way for upscale luxury built homes.

Fredericksburg is well known in history for the location of our first President George Washington’s boyhood home at Ferry Farm.  George Washington’s mother, Martha Washington and sister, Betty Washington lived in the city.  During the Civil War, Fredericksburg was the location of a major battle between the North and South. The Confederate forces gained the high ground in December, 1862 over the city and a fierce battle ensued. The Confederacy won the battle. The city suffered major damage as the historic downtown area was at the center of this famous battle. The recent movie, “Gods and Generals” describes this event with great detail. Today, the Fredericksburg Historic District consists of a 40 block area and 350 homes dating back to the 18th and 19th centuries. Each summer, crowds of tourists visit Fredericksburg to enjoy and learn its fascinating history.

Fredericksburg is home to several major commercial shopping sites like Central Park, Spotsylvania Towne Center and Cosner’s Corner. This area is also home to the University of Mary Washington, a well known and desired college. There are several major hospitals here like Mary Washington, Stafford Regional and Spotsylvania Regional Medical Center. Commuters love the location because the main hub for Northern Virginia and Washington D.C. travel is on Interstate 95, which runs right through Fredericksburg. Home buyers have learned that they can get the best bang for their buck by living near Fredericksburg and commuting to their work locations rather than buy more expensive real estate in highly congested areas.

Posted in Area Description
Feb. 2, 2015

What Village of Idlewild Real Estate Offers

Village of Idlewild Real Estate Blog Entrance Image

Village of Idlewild is a quiet, upscale living planned community nestled within the Fredericksburg City limits. The location is quite demanded due to the close proximity to shopping, schools, work and entertainment. I95 at exit 133 runs behind Idlewild.

The Village of Idlewild was developed by Ryan/Ryland Homes to consist of a pleasant place with both attached and detached homes. The detached homes are mostly in the colonial style with Williamsburg colors and detached garages to the rear with back streets for garage access. 

This community is loaded with amenities. A huge in ground pool, tennis courts, fitness centers, basketball courts, walking trails, sidewalks, a stately brick clubhouse and play areas. Home owners seem very satisfied with this community. Usually homes come up for sale because of job transfers or similar events, not because they didn’t like the environment. There’s also a heavy population of Military families here.

Why will Village of Idlewild home values grow? This is still considered a newer community. The inviting presence of lush landscapes and freshly painted dwellings are in place. The home builder has finished the construction in here. Now, home owners aren’t competing with new construction discounted prices. I predict the Spring Village of Idlewild real estate market to get very warm.

What should Village of Idlewild home sellers do to better sell their homes? Hire an aggressive Village of Idlewild Realtor expert. This agent should present your home at its best to the world, use the best tools, get professional photos and a virtual tour, and be a member of a large office network.  I’m one of the top agents in the area based on my production and award winning customer quality service. I am currently a Virginia Real Estate Associate Broker. Real estate is my passion. My network is Century 21 Redwood. We have numerous locations in the Fredericksburg, Northern VA and Washington D.C. areas.  I would be happy to further explain the entire listing process if you contact me.  View my Village of Idlewild homes for sale site.

 

By: Tom Smith
Licensed Assoc. Broker
Fredericksburg Homes Realty
Century 21 Redwood
tsmtihc21@gmail.com
540-735-2266

Posted in Realty News
Jan. 26, 2015

Fredericksburg Homes Sales Volume in 2014 up 4.15%

Fredericksburg Homes Sales Volume Up article image

A recent study of home sale statistics concentrating on the Fredericksburg Area Association of Realtors or the areas of the City of Fredericksburg, Spotsylvania, Stafford, Caroline and King George Counties compiled by RBI(Real Estate Business intelligence) and MRIS showed that Fredericksburg Homes Sales volume grew 4.15% in 2014 compared to that of the area in 2013. The median sales price grew 5.29% in the same period. The quantity of homes for sale was up 1.18 percent from 2013.

 

The big area winner in 2014 based on the sold median price was Spotsylvania. The Spotsylvania real estate median sold price grew 20.7 percent for December 2014 at $249,900 based on December, 2013 at $207,000. Fredericksburg City came in second with a 11.5% median sales price increase for December, 2014 compared to the previous year.  Caroline County came in third with a 10.8 percent median sales price increase for the same time period.  Stafford County median sold price for December, 2014 compared to same time in 2013 was down 1.4 percent. The big loser was King George County. The median sold price for December, 2014 was $219,000. The median sold price in December 2013 was $244,950.  This was a 10.6% decrease.

 

The average number of days houses stayed on the market  before getting sold in the Fredericksburg area increased to 93 from 72 based on December of 2014 and that of the year prior.

 

Average sold prices for detached single family homes in the area increased 3.24% at $280,479. The average sold price for attached town-home style properties increased 3.70% at $206318. Both were based on sales in December, 2014 compared to December of 2013.

 

Active listings inventory for the Fredericksburg area was up 4.40 percent at 1710 for the close of 2014 compared to 1638 at the close of 2013.

 

I expect to observe Fredericksburg home sales volume to continue to increase in 2015 at a steady pace. The Fed seems to be on track with keeping the interest rates down based on a large interest on U.S. Government Bonds. Inventory continues to grow, sold prices are getting higher, rates remain low and the market seems to be healing. My take is a warm upcoming Fredericksburg real estate market.

 

Author, Tom Smith is an Associate Broker at Century 21 Redwood in Fredericksburg, VA. He was presented the Agent of the Year for Century 21 Redwood Fredericksburg for 2014, He is a four time winner of the President’s Award for his continued pace of earning Centurion production status and receiving the Pinnacle Quality Service award every year. This award is based on past client’s score on agent performance.

 

Posted in Market Conditions
Jan. 22, 2015

Choose Local Fredericksburg Real Estate Expert

If you are a Fredericksburg home buyer getting ready to start your home search, you will need to read this article. 

Most real estate activity starts with the home search. How are you searching Fredericksburg? Are you familiar with the area? Where are the schools? How close is your work commute and are you targeting a home and area that will appreciate, not depreciate in value? If you were unable to answer any of these questions, you need to hire a REALTOR. This Fredericksburg real estate agent should be a person you can rely on to assist you with your search based on your wants and criteria. Let this REALTOR do the work for you. You should enjoy your home buying experience, not stress it.

Watch out for the big name home search sites. They can be a great resource to show listings, though many may already be under contract. 90 percent of real estate buyers begin their Fredericksburg home search online. Over 60 percent use Google to search the area with terms “homes for sale” or “real estate”. No matter what area or city the consumer targets in their search, they will see the same companies at the top of the search page. These companies have spent millions to gain the top positions to capture your business and further to recommend a partner REALTOR to you. Some of these agents agreed to share their commissions or paid to be members on these sites. Are they the “Fredericksburg area realty experts”? I don’t think so. These sites are head quartered in other states. If I’m looking for a home in Fredericksburg, VA, I don’t want someone across the country forcing me to use their services or Realtors just because I looked at some listings on their site. Purchasing your home is a very important experience and you deserve the best representation. Go local with an agent that has the experience and references to back up their information.

Tom Smith is a Fredericksburg, VA Real Estate Broker and area expert. He has earned the President’s Award for the past 4 years. These awards are important to Tom because they are given for customer satisfaction. To be qualified, one must obtain a Pinnacle Quality Service for at least two years and maintain a minimum of Centurion production as well. This is a huge accomplishment for a REALTOR. Tom provides top real estate services for Fredericksburg and the surrounding areas of Spotsylvania, Stafford, King George, Caroline and Orange Counties. His Fredericksburg realty website, www.fredericksburgagent.com, is totally free to use with no strings attached. Tom believes that if he provides the best services and resources with the best information, the customer will contact him for assistance when they are ready to tour the properties they found. You won’t see tons of links and ads on our site. You will observe fresh, updated listings straight from our local MLS provider, MRIS. 

Posted in Realty News
Jan. 16, 2015

Fredericksburg Home Mortgage Rates Continue to Fall

Fredericksburg Real Estate Interest Rates Fall Blog Image

 

Fredericksburg home buyers are finding record low mortgage rates and increasing inventory. This is the recipe for a warm upcoming Fredericksburg Real Estate Market.

Nervous stock traders invested heavily in protected U.S. Government Bonds on Wednesday, driving key interest rates to the lowest level since May of 2013. The U.S. Treasury is the largest, most liquid market in the world. In an unstable market, investors seek protection and money flocks to the U.S. Market. The culprits in this rising activity are the reducing oil prices and the slump in Europe. This has increased demand for U.S. Government Bonds.  Iron ore, copper and other products plunged in the stock market, while government bond prices increased. This pushed Treasury yields down.  The yield on the 30 year bond dropped under 2.4 percent for the all time low on record.

What does this mean for the home buyer in Fredericksburg? This activity shows a trend that the mortgage rates will remain low for the upcoming spring season. I’ve observed increasing listings in the area. With supply on a rise and demand increasing demand, home buyers will have a great upcoming market.

Home sellers that have been waiting for the market to get better to list their homes should get a jump start now. Don’t wait for the flood of new listings this spring. Get your home on the market now while inventory is still low. The low interest rates will get buyers on the street. Present your home as the best it can be. Hire a great Realtor that uses only the best tools to get this done. A good agent will present your home to the world, not the local area.

By: Tom Smith

Tom Smith is a licensed Associate Broker with Century 21 Redwood in Fredericksburg, VA. He is a President’s Award recipient and has gained Centurion Status and Pinnacle Quality Service among many other accomplishments. 

Posted in Realty News
Jan. 11, 2015

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Blog Feedhttp://www.fredericksburgagent.com/blog/feed/Posts and updates to the blogen-usSun, 07 Dec 2014 22:16:15 -0600Lee's Hill Home Sales Market Snapshothttp://www.fredericksburgagent.com/blog/lees-hill-home-sales-market-snapshot/<p>Lee's Hill seems to remain healthy in our area Fredericksburg homes sales market. The location and close proximity to work, shopping, schools and hospital may be factors that keep this lovely community in high demand.</p> <p>&nbsp;</p> <p>The total volume of sold homes last October was $904,900. There were 3 closed sales. The median sold price was $329,900. The average sold price was $301,633. The median days on the market were 5 days. The average days on the market were 22 days. The median price per square foot was $133. The average price per square foot on finished space was $139.</p> <p>&nbsp;</p> <p>Please use the interactive chart below and information brought to you by Real Estate Business Intelligence (RBI). If you are in the market for a Lee's Hill home, contact your local realtor.</p> <p>&nbsp;</p> <p>Tom Smith</p> <p>Licensed Real Estate Broker</p> <p>Century 21 Redwood Fredericksburg</p> <p>804-513-9179</p> <p>www.fredericksburgagent.com</p> <p><a title="Lee's Hill Homes for Sale" href="http://www.fredericksburgagent.com/lees-hill/">Lee's Hill Real Estate Website</a></p> <p>&nbsp;</p> <p><iframe src="http://www.getsmartcharts.com/share/v1/e/cmlkPTElMkMxMCUyQzQlMkMyJTJDMyZmdGlkPTImZmlkPTEwMDAmZ3R5PTEyJmx0aWQ9OSZsaWQ9NzAxOTc2JmdpZD0xJmNjPTAwMDBkZCUyQ2RkMDAwMCUyQzc0MDBjZSUyQzA1YzUwMCUyQ2ZmYzAwMCZzaWQ9MCZtaWQ9MCZ0dD0yJm1vZGU9MiZ3aWR0aD02MjAmaGVpZ2h0PTMzMCZtbHNpZD0xJmN0eT1tbHM=/13985676352010/1/mls" width="620" height="330" frameborder="0"></iframe></p>Sun, 07 Dec 2014 22:16:15 -0600http://www.fredericksburgagent.com/blog/lees-hill-home-sales-market-snapshot/Winter Real Estate Maintenance Checklist:http://www.fredericksburgagent.com/blog/winter-real-estate-maintenance-checklist/<h4 class="MsoNormal">Use these tips to save money this winter.</h4> <p class="MsoListParagraphCxSpFirst" style="margin-left: 27.0pt; mso-add-space: auto; text-indent: -.25in; mso-list: l0 level1 lfo1;"><!-- [if !supportLists]--><span style="font-family: Symbol; mso-fareast-font-family: Symbol; mso-bidi-font-family: Symbol;">&middot;<span style="font-stretch: normal; font-size: 7pt; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span><!--[endif]-->Remove leaves and debris from gutters</p> <p class="MsoListParagraphCxSpMiddle" style="margin-left: 27.0pt; mso-add-space: auto; text-indent: -.25in; mso-list: l0 level1 lfo1;"><!-- [if !supportLists]--><span style="font-family: Symbol; mso-fareast-font-family: Symbol; mso-bidi-font-family: Symbol;">&middot;<span style="font-stretch: normal; font-size: 7pt; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span><!--[endif]-->Make sure attic has a minimum of 12 inches of insulation</p> <p class="MsoListParagraphCxSpMiddle" style="margin-left: 27.0pt; mso-add-space: auto; text-indent: -.25in; mso-list: l0 level1 lfo1;"><!-- [if !supportLists]--><span style="font-family: Symbol; mso-fareast-font-family: Symbol; mso-bidi-font-family: Symbol;">&middot;<span style="font-stretch: normal; font-size: 7pt; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span><!--[endif]-->Check crawl space for moisture or flooding</p> <p class="MsoListParagraphCxSpMiddle" style="margin-left: 27.0pt; mso-add-space: auto; text-indent: -.25in; mso-list: l0 level1 lfo1;"><!-- [if !supportLists]--><span style="font-family: Symbol; mso-fareast-font-family: Symbol; mso-bidi-font-family: Symbol;">&middot;<span style="font-stretch: normal; font-size: 7pt; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span><!--[endif]-->Have HVAC or furnace professionally cleaned and serviced. Change all filters</p> <p class="MsoListParagraphCxSpMiddle" style="margin-left: 27.0pt; mso-add-space: auto; text-indent: -.25in; mso-list: l0 level1 lfo1;"><!-- [if !supportLists]--><span style="font-family: Symbol; mso-fareast-font-family: Symbol; mso-bidi-font-family: Symbol;">&middot;<span style="font-stretch: normal; font-size: 7pt; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span><!--[endif]-->Place fire extinguisher on each level of home and one in garage.</p> <p class="MsoListParagraphCxSpMiddle" style="margin-left: 27.0pt; mso-add-space: auto; text-indent: -.25in; mso-list: l0 level1 lfo1;"><!-- [if !supportLists]--><span style="font-family: Symbol; mso-fareast-font-family: Symbol; mso-bidi-font-family: Symbol;">&middot;<span style="font-stretch: normal; font-size: 7pt; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span><!--[endif]-->Change batteries in all smoke and carbon dioxide detectors.</p> <p class="MsoListParagraphCxSpMiddle" style="margin-left: 27.0pt; mso-add-space: auto; text-indent: -.25in; mso-list: l0 level1 lfo1;"><!-- [if !supportLists]--><span style="font-family: Symbol; mso-fareast-font-family: Symbol; mso-bidi-font-family: Symbol;">&middot;<span style="font-stretch: normal; font-size: 7pt; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span><!--[endif]-->Clean out heating and air ducts.</p> <p class="MsoListParagraphCxSpMiddle" style="margin-left: 27.0pt; mso-add-space: auto; text-indent: -.25in; mso-list: l0 level1 lfo1;"><!-- [if !supportLists]--><span style="font-family: Symbol; mso-fareast-font-family: Symbol; mso-bidi-font-family: Symbol;">&middot;<span style="font-stretch: normal; font-size: 7pt; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span><!--[endif]-->Reverse ceiling fans to blow warm air down. Blades should turn clockwise during winter.</p> <p>&nbsp;</p> <p class="MsoListParagraphCxSpLast" style="margin-left: 27.0pt; mso-add-space: auto; text-indent: -.25in; mso-list: l0 level1 lfo1;"><!-- [if !supportLists]--><span style="font-family: Symbol; mso-fareast-font-family: Symbol; mso-bidi-font-family: Symbol;">&middot;<span style="font-stretch: normal; font-size: 7pt; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span><!--[endif]-->Check for drafts around suspected areas like recessed lights, doors, exhaust fans and vents.&nbsp;</p>Sun, 07 Dec 2014 21:46:57 -0600http://www.fredericksburgagent.com/blog/winter-real-estate-maintenance-checklist/The Time Has Come for Fredericksburg Home Buyers to Engagehttp://www.fredericksburgagent.com/blog/time-has-come-fredericksburg-home-buyers-engage/<div><p>The Fredericksburg Real Estate Market started hot for a short time this past June and remained warm until about mid August. From late August until now, the market has remained cool and now things should start to heat up.&#160;</p> <p>Today&#8217;s average Fredericksburg interest rate for a 30 year fixed FHA or VA loan is at a all time low of 3.5 percent. A 30 year fixed conventional is at 3.8 percent and the big news is a jumbo is at 4.25 percent. These rates are predicted to go up in the spring of 2015. Inventory of Fredericksburg real estate is average. Home buyers that have been holding out for the best rates may find that now is there time to act. We are currently in a strong buyer&#8217;s market. The low activity will give buyers a stronger negotiation on their offers.</p> <p>Why is the Fredericksburg home sales market slow? I think there are several driving factors to blame. Unemployment is still high in the area. The economy is still in a recovery phase. Add the recent threats abroad and upcoming Holidays and you will find that home buyers will have a tendency to wait to purchase. This is not a good idea. Homebuyers are getting good deals now because of these circumstances. If we were in a healthy market, the rates would be higher and home sellers would be in control.</p> <p>If you or someone you know is even thinking about purchasing a new home soon you may want to get in touch with a local real estate professional and gets the ball rolling. This agent should find out what your wants and needs are and set up a &#8220;Hot&#8221; search for you. This will keep you informed up to the minute on your target home search. The agent should be a strong negotiator with great communication skills and be well informed with the ever changing Fredericksburg real estate market place. I am one of those agents. I use old fashion one on one full service to take my clients through the entire buying process from the first meet up until I hand them the keys.</p> <p>Tom Smith is a licensed Virginia Associate Broker and active real estate agent with Century 21 Redwood in Fredericksburg, VA. &#160;</p> <p>&#160;</p></div>Fri, 24 Oct 2014 23:34:13 -0500http://www.fredericksburgagent.com/blog/time-has-come-fredericksburg-home-buyers-engage/State of Fredericksburg Real Estate August 2014http://www.fredericksburgagent.com/blog/state-fredericksburg-real-estate-august-2014/<div><p><img src="http://t.realgeeks.media/thumbnail/U5j-do29Zc2QjRh94hr5aNxhMAs=/fit-in/460x0/u.realgeeks.media/fredericksburgagent/tom-smith-century-21-adventure-redwood.JPG" alt="Century 21 Redwood Fredericksburg Homes Realty" width="460" height="259"></p> <p>The Fredericksburg Area Association of Realtors supports real estate services in Fredericksburg City and the surrounding counties of Spotsylvania, Stafford, King George and Caroline. This study is concentrated on the real estate activity in this area. The information is provided by the Real Estate Business Intelligence network.</p> <p>After a warm Fredericksburg buyer season, home sales activity is beginning to slow down for the month of August, 2014. &#160;According to statistics provided by RBI, the total sold real estate value for August was $113,277,594. Compare this volume to one year ago at $132,180,457; sales are down by 14.30 percent. The average sold price was $266,536, which was 5.02 percent less than last year at $280,638. The median sold price was $253,900, which was down by 3.9 percent of one year ago at $262,000. The total units sold for this area in August was 425. The total units sold in August, 2013 were 471. This is a decrease in sold inventory by 9.77 percent. &#160;The average time the Fredericksburg homes stayed on the market was 73 days. Compared to last year at 56, homes are sitting on market 30.36 percent longer. The average starting list price was $272,085, a decrease of 5.23 percent of one year ago at $287,095. The amount of active listings this past August was 2200, an increase of 26 percent from one year ago at 1746. Homes with pending contracts were 793, a decrease of 2.34 percent from one year ago at 812. Types and numbers for purchaser funds were cash at 36, FHA at 81, Conventional at 155, VA at 155 and other funds at 24. Conventional is high and FHA is low based on the PMI. Purchasers are avoiding this added monthly cost.</p> <p>Fredericksburg are home buyers and investors need to take advantage on this buyers market. Home buyers are in complete control. Sellers are still working with a low inventory, which dictates a stronger home seller situation. There are numerous factors which may be to blame for our current market condition. The state of our economy is the top factor. Inventory is a strong second. The increased Military action in Iraq and Syria has home buyers and sellers concerned of our future economy. Tighter lender guidelines have left less qualified buyers. Unemployment is still a factor. Many Federal positions have seized new hiring. This area has a strong Federal worker population.</p> <p>The positive news for buyers is the Fed has released news that the interest rates will remain low through the year and possibly a great part of the next year. Home buyers are getting a really good bang for their buck now.</p> <p>Contact your Fredericksburg Real Estate professional today. We are trained to find you that perfect home based on you wanted criteria. We use tools that are only provides to REALTORS. We specialize in walking you through the entire buying process. A great agent is a strong negotiator and skilled communicator. Ask this professional of their past sales experience.</p> <p>Tom Smith</p> <p>Associate Broker</p> <p>Century 21 Redwood</p> <p><a title="Fredericksburg Homes for Sale" href="http://www.fredericksburgagent.com">Fredericksburg Homes Realty</a></p> <p>804-513-9179</p> <p>http://www.fredericksburgagent.com</p> <p>&#160;</p> <p>&#160;</p> <p>&#160;</p> <p><iframe src="http://www.getsmartcharts.com/share/v1/e/cmlkPTEmZnRpZD0yJmZpZD0xMDAwJmd0eT0xMiZsdGlkPTMmbGlkPTEwMTgmZ2lkPTImY2M9MDAwMGRkJnNpZD0wJm1pZD0wJnR0PTImbW9kZT0yJndpZHRoPTU0MCZoZWlnaHQ9MzMwJm1sc2lkPTEmY3R5PW1scw==/13985676352010/1/mls" width="540" height="330" frameborder="0"></iframe></p></div>Thu, 02 Oct 2014 23:31:47 -0500http://www.fredericksburgagent.com/blog/state-fredericksburg-real-estate-august-2014/Fawn Lake Homes for Sale May Market Reporthttp://www.fredericksburgagent.com/blog/fawn-lake-homes-sale-may-market-report/<div><p><img src="http://u.realgeeks.media/fredericksburgagent/spotsylvania_million_dollar_homes_big.jpg" alt="Fawn Lake Community Home Sales Report Waterfront Image" width="460" height="378" style="vertical-align: top;"></p> <p>&#160;</p> <p>The Fawn Lake Community in Spotsylvania County, Virginia felt the slump of the slow real estate market last month. Hopefully with warming temperatures and summer activities increasing, conditions should improve.<br>The total sold volume in May, 2014 or last month was $510,000. This amount was down by 67.45% from April home sales a month earlier and down 3.77% from one year ago. There were 38 active Fawn Lake real estate listings with only one that sold. There were eight new listings were posted and one under contract and six placed under contract with contingencies. The average median sold price was $510,000 and the buyer used conventional financing. The average days on the market based on this one home sale was 128. The average list to sold price ratio was 92.7%. <br>There are a variety of available homes in Fawn Lake right now. There are 4 in the $300k to $399k range. Seven available in the $400k to $499k range. Six active in the $500k to $599k price range. Sixteen available in the $600k to $799k range. Two priced in the $800k to $999k range and three homes available in the 1m to 2.499m. Please visit my <a title="Fawn Lake Real Estate Site" href="/fawn-lake/">Fawn Lake Homes for Sale Site</a> to view these amazing properties. <br>I have added this interactive Fawn Lake Market Report bar graph from <a title="Real Estate Business Intelligence Site" href="http://www.rbintel.com/">RBI</a> to keep you informed on Fawn Lake&#8217;s real estate statistics.</p> <p>&#160;</p> <p><iframe src="http://www.rbintel.com/share/v1/e/cmlkPTElMkMxMCUyQzQlMkMyJTJDMyZmdGlkPTEmZmlkPTEwMDAmZ3R5PTYmbHRpZD05JmxpZD03MDExOTEmZ2lkPTImY2M9MDAxZWZmJTJDNzQwMGNlJTJDYzYwMGZmJTJDZmYwMDAwJTJDYTQwMDAwJm1vZGU9MiZ3aWR0aD02MjAmaGVpZ2h0PTMzMA==/13985676352010" width="620" height="330" frameborder="0"></iframe></p> <p><strong>Meet Your Fawn Lake REALTOR</strong></p> <p>Tom Smith is a licensed Virginia Real Estate Associate Broker and active full time real estate agent at Century 21 Adventure Redwood in Fredericksburg, VA. Tom specializes in high end, luxury real estate. His record speaks for itself. He has obtained the Centurion level for his sales, the Pinnacle Quality Service and the President&#8217;s Award for the past three years. Contact Tom Smith at 540-735-2266 to schedule a private one on one consultation today.<br> By: Tom Smith, Author and Fawn Lake Expert<br><a href="https://plus.google.com/107281714905606526681?%0D%0A%20%20%20rel=author">Google</a></p></div>Tue, 17 Jun 2014 00:03:20 -0500http://www.fredericksburgagent.com/blog/fawn-lake-homes-sale-may-market-report/Fredericksburg VA April Home Sales Reporthttp://www.fredericksburgagent.com/blog/fredericksburg-va-april-home-sales-report/<div><p>&#160;<img src="http://u.realgeeks.media/fredericksburgagent/fredericksburg_homes_sales_report_april_2014_big.jpg" alt="Fredericksburg Area Home Image" width="459" height="524" style="vertical-align: top; border: 2px solid black;"></p> <p>&#160;</p> <p>&#160;</p> <p>The Fredericksburg area consists of Fredericksburg City, Caroline, Spotsylvania, Stafford and King George Counties. This area has seen it&#8217;s share of ups and downs since winter. Comparing recent home sales to that of March, it appears that Fredericksburg is slowly climbing out of the real estate break. <br>There were 377 homes that sold in April, 2014. That was an increase of 7.71 percent from that of last month. The total sold volume was $100,714,514, an increase from March of 6.73 percent. The median sold price on Fredericksburg area homes was $250,000. This was an increase of .95 percent of last month. The average sold price was $267,147, decreased by .91 percent compared to last month. The average amount of time a home stayed on the market was 87 days, an increase of 1.16 percent from last month. The average sold to original list price ratio was 95.47 percent. <br>The big winner for increased home sales for the area was the City of Fredericksburg, an increase of 47.37 percent compared to last month. Caroline County was second with an increase of 29.17 percent and King George was third with a 10.53 percent increase. The only county that showed a decrease in sales compared to last month was Spotsylvania, which sales went down by 2.22 percent.<br>Pending contracts varied in the area. Spotsylvania County was the big winner here, showing a 23.81 percent increase from last month. Caroline was the biggest loser with a decrease of 19.18 percent. Stafford was down .87, King George was down 3.03 percent and Fredericksburg City was down on active contracts by 8 percent.<br>I&#8217;ve noticed Fredericksburg real estate activity pick up in the last few days. With warming temperatures and school years ending, I predict the market to heat up quickly. My worry is inventory. Sellers are holding off on listing their homes for the market to get better. They need to get their homes listed now to get ready for the selling season. Buyers are also holding out for the inventory to increase. Growing inventory should set off buyer frenzy.<br>Please observe the graph below brought to you by Real Estate Business Intelligence. This information is automatically updated.<br>By: Tom Smith<br>Associate Broker<br>Century 21 Adventure Redwood<br>Fredericksburg, VA 22407<br>www.fredericksburgagent.com</p> <p><iframe src="http://www.rbintel.com/share/v1/e/cmlkPTElMkMxMCUyQzQlMkMyJTJDMyZmdGlkPTEmZmlkPTEwMDAmZ3R5PTEyJmx0aWQ9MyZsaWQ9MTAxOCZnaWQ9MCZjYz0wMDFlZmYlMkM3NDAwY2UlMkNjNjAwZmYlMkNmZjAwMDAlMkNhNDAwMDAmbW9kZT0yJndpZHRoPTU0MCZoZWlnaHQ9MzMw/13985676352010" width="540" height="330" frameborder="0"></iframe></p></div>Sun, 18 May 2014 23:51:28 -0500http://www.fredericksburgagent.com/blog/fredericksburg-va-april-home-sales-report/State of Fredericksburg Real Estate Markethttp://www.fredericksburgagent.com/blog/state-fredericksburg-real-estate-market-march-2014/<div><p>&#160;&#160;<img src="http://u.realgeeks.media/fredericksburgagent/state_of_fredericksburg_real_estate_blog_image_big.jpg" alt="State of Fredericksburg Real Estate Market Blog Post Image" width="459" height="290" style="vertical-align: top; border: 4px solid black;"></p> <p>The Fredericksburg home sales market is slowly recuperating after a very cold winter and low home sales. Lower than expected inventory and rising interest rates may be to blame. In the midst of all the negative publicity, there is some positive news to report. I use the Real Estate Business Intelligence system to retrieve real estate information directly from our local MLS provider, Metropolitan Regional Intelligence Service. This report is based on all single family attached and detached homes located within the Fredericksburg, VA. area.<br>The total sold homes volume last month was $40,675,067. That was up 4.9 percent from March one year ago at $38,772,597. The average sold price of Fredericksburg homes was $257,437. There was an increase of 12.87 percent from one year ago at $228,074. The median sold price of homes was $230,500. That proved an increase of 8.34 percent from one year ago at $212,750. The units sold were down in Fredericksburg. 158 homes were sold, compared to 170 sold one year ago. This is a decrease of 7.06 percent. Fredericksburg homes are staying on the market a little longer as well, at 75 days, compared to 56 days on the market a year ago before getting sold. The average original price ratio compared to the selling price ratio was down to 94.5 percent, compared to 97.5 percent a year ago. This shows that sellers are compromising to get their Fredericksburg homes sold in our current market. <br>Although inventory seems to be low, it is up 19.78 percent from one year ago. Homes under contract were down 7.14 percent from this time last year. The type of financing that was most used was conventional, then VA, FHA, Cash, and then other. Homes that stayed active for 31 to 60 days lead the sold pack, followed by the new to market 1 to 10 days on the market coming in second and 61 to 90 days on the market running third. This proves that sellers should remain patient and have their REALTORS keep the listing fresh with new photos and other information. Dropping the price a little every two weeks until showings increase also works great.<br>Four bedroom homes proved to be the detached home of choice last month, selling 69. Three bedroom homes came in second at 62. Two bedroom homes was a far third at 10 homes sold. Sellers may want to consider adding a potential bedroom or two. Remember, a legal to code bedroom needs an exit window, closet and door. Homes with public water and sewer are the best for adding bedrooms. If you are on a private well and sewer, you can add, though you have to disclose that the septic system only covers the original bedroom count. The liabilities in this situation are greater in the event that the additional household members create a septic problem.</p> <p>By: Tom Smith<br>Licensed Associate Broker<br>Tom Smith &#8211; Century 21 Adventure Redwood<br>10601 Courthouse Rd. #100<br>Fredericksburg, VA. 22407<br>(540)735-2266<br>Email: tsmithc21@gmail.com<br>Website: <a title="Fredericksburg Real Estate Site" href="http://www.fredericksburgagent.com">Fredericksburg Homes for Sale</a><br><br><a href="https://plus.google.com/107281714905606526681?%0D%0A%20%20%20rel=author">Google Authorship</a></p></div>Sun, 27 Apr 2014 23:23:11 -0500http://www.fredericksburgagent.com/blog/state-fredericksburg-real-estate-market-march-2014/Mid Atlantic Real Estate Sold Price Reporthttp://www.fredericksburgagent.com/blog/mid-atlantic-real-estate-sold-price-report/<div><p>The Mid Atlantic median real estate home sales report is in, brought to you by the Real Estate Business Intelligence Network. Use the interactive chart below to follow the sold trends in the Mid Atlantic Region. We are definitely coming out of a slump. The average sold price for February was $285,000, up from $271,000 in January. The increase in sold median price of homes was up 6.3 percent than that of the area one year ago. The downfall we shared in January was the lowest of the season, though it was up 5.5 percent from last January. Factors to blame for the fall are low inventory, harsh winter conditions, increased interest rates and our current economy following the scare of the Federal Government shut down. With temperatures beginning to rise and sellers starting to list their homes again, we are seeing market conditions healing with increased long awaited activity.</p> <p>By: Tom Smith<br>Associate Broker, Century 21 Adventure Redwood<br>tsmithc21@gmail.com<br>540-735-2266<br><br></p> <p><a href="https://plus.google.com/107281714905606526681?%0D%0A%20%20%20rel=author">Google</a></p> <p>&#160;</p> <p>&#160;</p> <p><iframe src="http://www.rbintel.com/share/v1/e/cmlkPTYmZnRpZD0yJmZpZD0xMDAwJmd0eT0xMiZsdGlkPTEmbGlkPTEwMDAmZ2lkPTAmY2M9MDAxZWZmJm1vZGU9MiZ3aWR0aD02MjAmaGVpZ2h0PTMzMA==" width="620" height="330" frameborder="0"></iframe></p></div>Thu, 03 Apr 2014 22:37:50 -0500http://www.fredericksburgagent.com/blog/mid-atlantic-real-estate-sold-price-report/Three Ways to Update Home for Less than $5k.http://www.fredericksburgagent.com/blog/three-ways-update-home-less-5k/<div><p><img src="http://u.realgeeks.media/fredericksburgagent/fredericksburg_updates_=_more_value_for_homes_big.jpg" alt="Fredericksburg Homes Update Homes article image" width="459" height="306" style="vertical-align: top; border: 4px solid black;"></p> <p>In today&#8217;s market place, it is important to keep your home at the top of the buyer&#8217;s list. If your home is dated, you&#8217;ll fall down in their ranks and your <strong>Fredericksburg home</strong> will get stale and not sell.<br>There are many different ideas on upgrades. Some are costly, while others are rather inexpensive. I chose three for this article that can all be done for less than $5,000.<br><br>Open the Kitchen:<br><br>Is your kitchen small and crowded? Are there walls that separate the kitchen from the dining room or living room? Back in the 70&#8217;s, this layout was popular as being efficient. There&#8217;s a simple fix. Hire a professional contractor to take out a wall or two. The contractor will know which walls are load bearing and may even have to install a header. Today&#8217;s buyers want to communicate with guest from the kitchen to the dining and living areas.<br><br>Enlarge the Closets:<br><br>If you home was built prior to 1980, you probably have small closets with one rod. Fredericksburg home buyers are looking for large closets. I&#8217;ve noticed buyers pass on homes with small closet space. Did you know there are closet kits you can purchase that give the appearance that your closet is organized and larger? Ask a sales associate at Lowes or Home Depot and they can steer you in the right direction.<br><br>Bring the Laundry Area Upstairs:<br><br>Older homes with basements were designed to have the washer/dryer installed in the basement. Today&#8217;s home buyers don&#8217;t want to carry their laundry up and down stairs. There&#8217;s a simple fix to this. Designate an upstairs closet as laundry area. Use a front load, stackable washer/dryer and this problem is fixed.<br>My biggest piece of advice I give my sellers is to tour their home and pretend they are picky buyers. What would concern them? What would they like to see changed? Most of the time, sellers can identify all potential problems and get those updated or fixed prior to listing.<br>Author, Tom Smith, is a licensed Virginia Real Estate Broker with Century 21 Adventure Redwood in Fredericksburg, VA. His full award winning representation is second to none. He strives to be your life long Real Estate Agent.</p> <p>By: Tom Smith<br>Associate Broker, Century 21 Adventure Redwood<br>tsmithc21@gmail.com<br>540-735-2266<br><br></p> <p><a href="https://plus.google.com/107281714905606526681?%0D%0A%20%20%20rel=author">Google</a></p></div>Mon, 24 Mar 2014 22:40:05 -0500http://www.fredericksburgagent.com/blog/three-ways-update-home-less-5k/Spring 2014 Fredericksburg Real Estate Predictionshttp://www.fredericksburgagent.com/blog/spring-2014-fredericksburg-real-estate-predictions/<div><p><img src="http://u.realgeeks.media/fredericksburgagent/fredericksburg_homes_realty_snow_image.png" alt="Fredericksburg Homes Realty Snow Image" width="442" height="295" style="vertical-align: top; border: 5px solid black;"></p> <p>The extreme cold temperatures, numerous winter storms, low inventory and rising interest rates have created a lull in the current <strong>Fredericksburg real estate</strong> market. On the national level, homes sales were down 5.1 percent in January compared to the month prior.<br>I predict the market to heat up abruptly within the next several weeks to a month. The weather is improving with temperatures starting to rise, along with the release of seller inventory that historically occurs in early spring will improve our current market. The magic bullet will be a reduction in the interest rate to reflect the decline. Even a small decrease may trigger activity. It&#8217;s like sitting on a keg barrel of gun powder. Home buyers have been waiting for the right property to hit the market. Low inventory and the small hike in interest rates have prompted many to wait. Sellers are waiting to see better market conditions and weather to list their homes. The decrease in the interest rate would be the fuse and match to set this off. Something has got to give. I predict the market to get warm this spring and hot by early summer.<br>Tom Smith is an award winning licensed Virginia real estate broker at Century 21 Adventure Redwood in Fredericksburg, VA. He ranked within the top 40 of all Century 21 agents in the Mid Atlantic Region for his home sales in 2013. He also received the prestigious President&#8217;s award for his customer quality service for the past two years.</p> <p>&#160;</p> <p>By: Tom Smith<br>Associate Broker, Century 21 Adventure Redwood<br>tsmithc21@gmail.com<br>540-735-2266<br><br></p> <p><a href="https://plus.google.com/107281714905606526681?%0D%0A%20%20%20rel=author">Google</a></p></div>Sat, 08 Mar 2014 00:28:17 -0600http://www.fredericksburgagent.com/blog/spring-2014-fredericksburg-real-estate-predictions/

Posted in feed
Dec. 7, 2014

Lee's Hill Home Sales Market Snapshot

Lee's Hill seems to remain healthy in our area Fredericksburg homes sales market. The location and close proximity to work, shopping, schools and hospital may be factors that keep this lovely community in high demand.

 

The total volume of sold homes last October was $904,900. There were 3 closed sales. The median sold price was $329,900. The average sold price was $301,633. The median days on the market were 5 days. The average days on the market were 22 days. The median price per square foot was $133. The average price per square foot on finished space was $139.

 

Please use the interactive chart below and information brought to you by Real Estate Business Intelligence (RBI). If you are in the market for a Lee's Hill home, contact your local realtor.

 

Tom Smith

Licensed Real Estate Broker

Century 21 Redwood Fredericksburg

804-513-9179

www.fredericksburgagent.com

Lee's Hill Real Estate Website

 

Posted in Market Conditions
Dec. 7, 2014

Winter Real Estate Maintenance Checklist:

Use these tips to save money this winter.

·         Remove leaves and debris from gutters

·         Make sure attic has a minimum of 12 inches of insulation

·         Check crawl space for moisture or flooding

·         Have HVAC or furnace professionally cleaned and serviced. Change all filters

·         Place fire extinguisher on each level of home and one in garage.

·         Change batteries in all smoke and carbon dioxide detectors.

·         Clean out heating and air ducts.

·         Reverse ceiling fans to blow warm air down. Blades should turn clockwise during winter.

 

·         Check for drafts around suspected areas like recessed lights, doors, exhaust fans and vents. 

Posted in How To
Oct. 24, 2014

The Time Has Come for Fredericksburg Home Buyers to Engage

The Fredericksburg Real Estate Market started hot for a short time this past June and remained warm until about mid August. From late August until now, the market has remained cool and now things should start to heat up. 

Today’s average Fredericksburg interest rate for a 30 year fixed FHA or VA loan is at a all time low of 3.5 percent. A 30 year fixed conventional is at 3.8 percent and the big news is a jumbo is at 4.25 percent. These rates are predicted to go up in the spring of 2015. Inventory of Fredericksburg real estate is average. Home buyers that have been holding out for the best rates may find that now is there time to act. We are currently in a strong buyer’s market. The low activity will give buyers a stronger negotiation on their offers.

Why is the Fredericksburg home sales market slow? I think there are several driving factors to blame. Unemployment is still high in the area. The economy is still in a recovery phase. Add the recent threats abroad and upcoming Holidays and you will find that home buyers will have a tendency to wait to purchase. This is not a good idea. Homebuyers are getting good deals now because of these circumstances. If we were in a healthy market, the rates would be higher and home sellers would be in control.

If you or someone you know is even thinking about purchasing a new home soon you may want to get in touch with a local real estate professional and gets the ball rolling. This agent should find out what your wants and needs are and set up a “Hot” search for you. This will keep you informed up to the minute on your target home search. The agent should be a strong negotiator with great communication skills and be well informed with the ever changing Fredericksburg real estate market place. I am one of those agents. I use old fashion one on one full service to take my clients through the entire buying process from the first meet up until I hand them the keys.

Tom Smith is a licensed Virginia Associate Broker and active real estate agent with Century 21 Redwood in Fredericksburg, VA.  

 

Posted in Market Conditions
Oct. 2, 2014

State of Fredericksburg Real Estate August 2014

Century 21 Redwood Fredericksburg Homes Realty

The Fredericksburg Area Association of Realtors supports real estate services in Fredericksburg City and the surrounding counties of Spotsylvania, Stafford, King George and Caroline. This study is concentrated on the real estate activity in this area. The information is provided by the Real Estate Business Intelligence network.

After a warm Fredericksburg buyer season, home sales activity is beginning to slow down for the month of August, 2014.  According to statistics provided by RBI, the total sold real estate value for August was $113,277,594. Compare this volume to one year ago at $132,180,457; sales are down by 14.30 percent. The average sold price was $266,536, which was 5.02 percent less than last year at $280,638. The median sold price was $253,900, which was down by 3.9 percent of one year ago at $262,000. The total units sold for this area in August was 425. The total units sold in August, 2013 were 471. This is a decrease in sold inventory by 9.77 percent.  The average time the Fredericksburg homes stayed on the market was 73 days. Compared to last year at 56, homes are sitting on market 30.36 percent longer. The average starting list price was $272,085, a decrease of 5.23 percent of one year ago at $287,095. The amount of active listings this past August was 2200, an increase of 26 percent from one year ago at 1746. Homes with pending contracts were 793, a decrease of 2.34 percent from one year ago at 812. Types and numbers for purchaser funds were cash at 36, FHA at 81, Conventional at 155, VA at 155 and other funds at 24. Conventional is high and FHA is low based on the PMI. Purchasers are avoiding this added monthly cost.

Fredericksburg are home buyers and investors need to take advantage on this buyers market. Home buyers are in complete control. Sellers are still working with a low inventory, which dictates a stronger home seller situation. There are numerous factors which may be to blame for our current market condition. The state of our economy is the top factor. Inventory is a strong second. The increased Military action in Iraq and Syria has home buyers and sellers concerned of our future economy. Tighter lender guidelines have left less qualified buyers. Unemployment is still a factor. Many Federal positions have seized new hiring. This area has a strong Federal worker population.

The positive news for buyers is the Fed has released news that the interest rates will remain low through the year and possibly a great part of the next year. Home buyers are getting a really good bang for their buck now.

Contact your Fredericksburg Real Estate professional today. We are trained to find you that perfect home based on you wanted criteria. We use tools that are only provides to REALTORS. We specialize in walking you through the entire buying process. A great agent is a strong negotiator and skilled communicator. Ask this professional of their past sales experience.

Tom Smith

Associate Broker

Century 21 Redwood

Fredericksburg Homes Realty

804-513-9179

http://www.fredericksburgagent.com

 

 

 

Posted in Market Conditions