Fredericksburg Homes for Sale Blog

Good News for Fredericksburg Home Market

2011-06-25T03:49:00Z

According to the National Association of Realtor's Community Preference Survey, Americans are opting for greener living conditions. Respondents to the recent survey shared that they would opt for smaller homes with less yard space if it meant living in a neighborhood with walkable access to conveniences. "Walkable" was defined as a neighborhood with lots of sidewalks and within walking distance to shopping, dining, entertainment and recreation. People in the housing market were more interested in growing walkable communities, increases in public transportation, and higher quality schools than in new road construction or more driving between home and work.

Fredericksburg Homes specializes in homes for sale in Fredericksburg neighborhoods with walkable conveniences. The pleasant communities in Fredericksburg have long been public transit accessible and within walking distance to most conveniences. This makes Fredericksburg a very desirable area for new home buyers and a contender on the Nation's list of best green cities in America.

Fredericksburg, Virginia Offers Waterfront Possibilities

2011-05-31T04:04:00Z

Find Your Waterfront Dream near Fredericksburg, VA
By Tom Smith, Realtor
Century 21 Adventure, Inc..

Extending along much of Virginia’s Chesapeake Bay tributaries along I95, from the historic town of Bowling Green and Ruther Glen on southern side and Locust Grove on the Western End, to the suburbs of Washington, D.C. to the north, Fredericksburg, Virginia has a wide array of waterfront areas. If you are into nature, Fredericksburg, VA offers Shenandoah National Park, Alum Springs Park, Hurkamp Park, and Motts Run Reservoir. Bordering with major tributaries and large lakes like the Rappahannock River, Potomac River, Ni River Reservoir, Lake of the Woods, Lake Caroline, Lake Land’ Or, Fawn Lake and Lake Anna, vacationers can play at the popular destinations of their choice. The eastern area, near the Chesapeake Bay features many beach areas including Potomac Beach, Fairview Beach, Colonial Beach, Aquia Harbour, Portobago Bay and Reedville for rivers and bays. Lake Anna State Park, Fawn Lake, Lake of the Woods, Lake Caroline and Lake Land Or for sandy lake beaches. The Fredericksburg area offers beaches and countless tourist areas like Historic Downtown Fredericksburg, Kings Dominion, Virginia State Fair and Fredericksburg/Spotsylvania National Battlefield Parks. One of the oldest, largest states along the Atlantic Coast, Fredericksburg Homes for Sale has what you are looking for when it comes to Lake homes, River homes and Waterfront homes for year round living, or the special family retreat. The weather is perfect. It’s not too hot or too cold. Home is where the heart is in Fredericksburg, Virginia.

Builders, Brokers See Cause for Optimism

2011-05-31T03:18:00Z

How do area home builders and Realtors think the local housing market will fare going forward?
BY BILL FREEHLING
Date published: 2/13/2011

Fredericksburg-area home builders and real estate brokers are cautiously optimistic that business will improve in 2011, according to a Free Lance-Star survey of principals at about a dozen area firms.

The surveys asked about changing customer preferences, challenges and opportunities in the Fredericksburg market, and predictions for 2011.

The feedback comes at a time when the regional economy is showing signs of improving, with unemployment rates falling slightly and sales on the rise. But the housing and home-building markets have remained weak. The median sales price for homes sold in the region last month hit its lowest mark since February 2003.

Survey respondents said the weakness is caused by a lack of consumer confidence, fears about job security and the economy, low appraisals, a flood of foreclosures and short sales depressing prices and a lack of available financing. The weakness in Northern Virginia has also hurt the more local market.

But they said the Fredericksburg region is cushioned by BRAC-related military jobs and other stable industries, so they think business will improve as confidence picks up, foreclosures work through the system, the local population continues to grow and customers act on pent-up demand. They see particular opportunities in the growing corridor near the planned Virginia Railway Express station in Spotsylvania County and say Idlewild and Lee's Parke are among the neighborhoods showing the biggest improvements.

Most predicted that housing sales and prices would improve somewhat this year, though probably not dramatically. Low interest rates and affordable prices should help bring buyers into the market, they said.

They point out that the misery of the past few years means performance can't get much worse. Some have seen an improvement in the past month or two and think within a few years the problem could be a lack of available land.

The companies that participated in the survey were Hazel Homes, Thompson Building Corp., Atlantic Builders, Top Choice Homes, Halsey Home Corp., Exit Real Estate Professionals, Coldwell Banker Elite, Realty World Select, 1st Choice Better Homes & Land and Exit Realty Expertise.

Builders said customers have become more conservative in the size of the houses they're targeting and the big-ticket amenities they're willing to pay for. Few buyers are opting for formal living rooms, while more are looking for open kitchens connected with family rooms, offices and second-floor laundry areas. Buyers are also generally more energy-conscious and looking for "green" features.

Bill Freehling: 540/374-5405
Email: bfreehling@freelancestar.com

Japan Industrial Production Rose 1% in April

2011-05-31T03:11:00Z

Japan’s economy shrank at an annual 3.7 percent pace in the first quarter and analysts surveyed by Bloomberg News expect the slump to extend into the three months ending June, extending a contraction that began in the final three months of 2010.
Japanese manufacturers said they plan to increase production 8 percent this month and 7.7 percent in June, evidence that the economic recovery may start to take hold later in the year.
Still, it may take time for the manufacturing sector to recover as companies are having difficulty procuring parts, Naohiko Baba, chief Japan economist at Goldman Sachs Group Inc. in Tokyo, said before the report.
“Production is recovering rapidly from the effects of the earthquake,” Baba said. Even so, “supply chain problems are still not completely resolved as of May, and we think production will not begin rising significantly before June.”
Overseas sales fell 12.5 percent in April from a year earlier, the biggest drop since October 2009, evidence that companies are still struggling to produce and ship goods to meet overseas demand. The value of automobile exports plunged to its second lowest level since data began in 1979, the Finance Ministry said.
Nissan Rebuilding
Nissan Motor’s Chief Executive Officer Carlos Ghosn said on May 17 that the automaker plans to invest 3 billion yen to reinforce the foundation of its most heavily damaged domestic factory after the earthquake in northern Japan disrupted output.
Rival Honda Motor, Japan’s third-largest automaker, said on May 17 that it will return to normal production before the end of the year. Toyota Motor expects production to normalize by November or December.
Prime Minister Naoto Kan plans to come up with second extra budget for reconstruction after parliament approved a 4 trillion yen ($50 billion) package this month. Kan, who will face his first parliamentary no-confidence vote as early as this week, needs the cooperation of opposition politicians to get the budget enacted. The government in March estimated that damage from the disaster will swell to as high as 25 trillion yen.
Wages fell 1.4 percent in April from a year earlier, a separate government report showed today, the biggest drop since December 2009. The job-to-applicants ratio deteriorated to 0.61 from 0.63, an indication that there are 61 positions available for every 100 applicants.
To contact the reporter on this story: Keiko Ujikane in Tokyo at kujikane@bloomberg.net Aki Ito in Tokyo at aito16@bloomberg.net
To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net

Russia’s Central Bank Signals It May Leave Interest Rates Same

2011-05-31T03:00:00Z

Russia signaled it may leave interest rates unchanged for several months after tightening monetary policy since December to balance accelerating inflation with slowing economic growth.

Bank Rossii, the central bank, yesterday raised its overnight deposit rate to 3.5 percent from 3.25 percent, surprising 11 of 20 economists in a Bloomberg survey. It left its refinancing rate and overnight repurchase rates unchanged after a quarter-point increase in April, saying in a statement that borrowing costs may be at the level necessary to tackle inflation and promote growth “for the nearest months.”

Sergey Ignatiev, chairman of the Moscow-based bank, is trying to limit consumer price growth to 6 percent to 7 percent without stifling credit and undermining an economic recovery in the world’s biggest energy supplier. While inflation will probably ease in the second half of the year, increases in food prices and public-sector salaries may threaten that target.

“Most likely, the central bank won’t raise interest rates in the next three months,” Julia Tsepliaeva, head of research at BNP Paribas in Moscow, said by telephone yesterday. “Inflation could still bring a surprise though, requiring more forceful action.”

While annual inflation reached an 18-month high of 9.7 percent as of May 23, consumer price growth remains relatively low in monthly terms, the central bank said in its statement yesterday. Food-price growth has slowed as the knock-on effects from last year’s drought, the country’s worst in 50 years, eased, the bank added.

By Scott Rose

Stafford Home Prices on the Rise

2011-05-18T04:30:00Z

Housing prices dropped in the Fredericksburg region last month from December 2009, but Stafford County, VA. bucked the trend.

The median sales price for a house in the Fredericksburg region was $200,000 last month, down about 4.8 percent from the same period in 2009, according to data released yesterday by Metropolitan Regional Information Systems Inc.

December's median sales price for the region--Fredericksburg and Caroline, King George, Stafford and Spotsylvania counties--was little changed from this past November.

Stafford's median rose 6.5 percent year over year to $245,000. Stafford has also been a strong performer in taxable sales growth of late, indicating that the county's economy and housing market are strengthening sooner than the rest of the region.

Economists say that's been the trend throughout Northern Virginia, with localities closer to Washington recovering more quickly. Stafford's prices could also be getting a boost from the BRAC military jobs coming later this year.

There were 269 homes sold through the Multiple Listing Service in the Fredericksburg region last month. That's down about 13.2 percent from December 2009. About a quarter of the sales were foreclosures.

About 8.7 months' worth of inventory was listed on the market at the end of December in the region. About five months is considered a good balance between supply and demand.

Conventional bank financing was used in only a fifth of the region's home sales last month. Most area home sales continue to be financed with loans backed by the federal government.

Homes spent an average of 87 days on the market before selling last month, and the average sales price was about a 10 percent lower than the average list price.

Go to the Business Browser blog on Fredericksburg.com to see a list of all the individual homes that sold in the region last month. You can sort the list by neighborhood, price and more. There are also housing statistics back to 2000 on the business-focused blog.

Information provided by Bill Freehling and the Free Lance Star

Survey and Region 3 Vice Presidential Home Sales April, 2011 Report

2011-05-18T04:16:00Z

April 2011 Report Highlight

While distressed sales rose as a share of total sales between the 4th and 1st quarters in Region 3 (Delaware, Maryland, District of Columbia, Virginia, West Virginia), the price discount on these properties relative to non-distressed sales improved. Demand for distressed sales by investors has increased causing multiple bids in some areas.

Information provided by National Association of Realtors.

Steps to Take When Buying a Home

2011-05-12T06:02:00Z

Follow these steps from start to finish getting those keys to your perfect, dream home. This information is provided by Tom Smith, Realtor with Century 21 Adventure, Inc. and Fredericksburg Homes for Sale to reduce confusion a home buyer may encounter when buying a home. Your realtor should ensure that each condition is met and assist you through the entire process.

1. Make your decision to purchase a home or property.

2. Contact a full time, full service realtor like myself.

3. Choose your type of Agency. Buyer agency is most common.

4. Get pre-approved with the lender of your choice.

5. Decide what you want in a perfect home. Home style, lot size, location, school district, etc.

6. Have your Realtor search for homes that meet your wants and needs.

7. Meet with your Realtor and preview homes.

8. Discuss and make an offer with your Realtor. Your Realtor will write a contract offer based on your recommendations.

9. Contract Accepted. The clock starts ticking on your contingencies like home inspection, financing, appraisal, etc.

10. Meet with home inspector at property. Home inspector will walk you through the entire inspection and make you aware of any problems.

11. Discuss the home inspection results with your Realtor. What items will you address? Have your realtor write up an addendum with the problems listed to be removed when the items are fixed or repaired.

12. Select your Settlement Company or attorney. You have the right to choose here in Virginia.

13. Request and obtain your final approval from your lender.

14. Get your termite inspection. Your Realtor may set this inspection up for you.

15. Contact all utility companies and advise them of your date of settlement. Be sure you notify them before they disconnect. Usually a simple switch account will waive the connect charge.

16. Obtain Hazard and Home Insurance and notify your lender when this is complete. Your lender may advise you what to request before you call.

17. Contact your Title Company or attorney and ask them what you’ll need to bring to settlement. You may need to obtain a certified check if you are bringing money to the table.

18. Your final walk through. This is usually done just prior to settlement. Check all appliances, plumbing and electrical with your realtor. This is also the time to check and make sure the home inspection items were in fact repaired or replace and satisfied.

19. Settlement. This is your closing. Your Realtor should accompany you at the table. Go over all documents and the settlement statement. Once you determine everything is correct, sign where indicated. A firm hand shake and keys closes the deal.

I hope this helps reduce some confusion and stress. You may call your Fredericksburg Realtor anytime you need full realty service. Enjoy your new home.

Virginia home sales stabilize in first quarter 2011

2011-05-12T04:53:00Z

Virginia residential home sales in the first quarter of 2011 have followed the general trend of the last several years with year-to-date sales 0.3% above last year. January and February home sales in 2011 exceed the same month the prior year (by 2.5 % and 3.5%) according to the Virginia Association of REALTORS®’ Home Sales Report.

Submitted by Amanda Rainsford on May 2, 2011 - 11:34am

April 29, 2011 – Virginia residential home sales in the first quarter of 2011 have followed the general trend of the last several years with year-to-date sales 0.3% above last year. January and February home sales in 2011 exceed the same month the prior year (by 2.5 % and 3.5%) according to the Virginia Association of REALTORS®’ Home Sales Report.

As seen above, first quarter 2011 home sales (16,547 units) showed a marginal improvement over first quarter 2010 (16,499 units). The coming quarter will show if it can keep pace with the many closings in second quarter 2010 that were likely related to the federal home buyer tax credit.

“We feel the slow but steady increase in sales, during a traditionally slow quarter, is a good sign for the spring selling season. With unemployment decreasing and lower pricing making housing more affordable, we hope to see a potential rise in Virginia home sales from first quarter, into the summer months,” says Virginia Association of REALTORS®’ President John Dickinson of Union Hall.
“Sellers have been patient this past quarter, and wisely priced their homes in line with current market values,” added Dickinson. “It is a buyers market and a good time to invest in property before home prices increase again and if the buyer is able to qualify, interest rates are also at record lows.”

Price Reduced on 12335 SOUTH RIVER RD in Woodford

2011-04-29T15:18:00Z

Woodford, Woodford - Announcing a price reduction on 12335 SOUTH RIVER RD, a 1,812 sq. ft., 2 bath, 3 bdrm single story. Now MLS® $239,000 - This is a Steal!.

Property information

Fredericksburgagent.com Has New QR Code

2010-09-16T02:58:00Z

Fredericksburg Homes announces it's new QR bar code for www.fredericksburgagent.com It is as follows;

Sell Your Home Quick and Beat Your Competition In This Market

2010-05-15T03:19:00Z

Are you tired of watching your home become stale on the market because you can't beat your competition? Are you competing with bank owned foreclosures, short sales or under priced properties? Buyers that see homes that have been listed for over 60 days begin to wonder if something is wrong with the home. They don't realize that the owner just can't price their home as low as a foreclosure or short sale. This is a sad situation.One of the top selling real estate agents releases his secrets to selling homes in today's tough market. Tom Smith, Realtor with Century 21 Adventure, Inc. in Fredericksburg, VA. has sold his last ten client's homes for more and actually ended the transactions with happy clients. His concept is easy. Please read Tom's article on Ezine to get your home to the top of the buyer's want list.

Rare Rappahannock Riverfront Horse Farm near Fredericksburg for Taking.

2009-08-04T02:59:00Z

Welcome to Appleton Hall.

PRICE LISTED IS TAX ASSESSMENT Absolutely Stunning 4,575 sf Colonial Farm, 45 Ac Rappahannock Waterfront PARADISE! Featuring elegant living! Grounds has
2BR Guest home, 100 x 100 Barn, 6 fenced pastures, 3 ADDITIONAL 4BR PERC SITES NEAR RIVER & THE MOST scenic river VIEWS in Stafford County. Listing agent will accompany all guest. Proof of funds needed. Need 48 hour notice to tour. Call list agent for further details. Get more information on this and other rare properties on my websites www.fredericksburgagent.com and www.fredericksburgvahomesforsale.com. This is your source for all real estate. See this beautiful farm on my featured listings page.

2 Story For Sale in Portobago Bay

2008-09-09T03:42:00Z

Paradise in Portobago Bay

• 2,200 sq. ft., 3 bath, 3 bdrm 2 story - MLS® $319,900 - Reduced

Portobago Bay, Port Royal - Announcing a 20 day sale. Price dropped 30K and sellers pay 5K in closing cost. This home will capture your heart. Beautiful 3 bed 2 1/2 bath cape cod on over 3 acres of lake front in Portobago Bay. Living room, family room, kitchen, sep. dining room,hardwood floors and carpet, gas fireplace, XL screened back porch with fan set up for evening dining,large deck,work shop,basement.Wildlife galore.Access to beach and pier on wide Rappahannock River.Gorgeous landscape. See more on http://www.fredericksburgagent.com

Property information

Portobago Bay- Area's Best Kept Secret, Revealed.

2008-08-08T17:21:00Z

Portobago Bay was named after the Portobago Indian Tribe, whom once used this beautiful land as home. Captain John Smith described passing vast indian settlements on his famous discovery of Virginia. He passed right by this beautiful area situated five miles south of the town of Port Royal on the Rappahannock River. The bay was formed over thousands of years of river flow to form a very wide river basin. Wide river views are panoramic and over one mile in distance of width. This is quite rare for the Rappahannock River, known for it's strong current and deep narrow channels. These views are the widest for at least 100 miles. The water depths in the bay varies anywhere from 3 to 6 feet. This makes the bay special for the shallow depths tend to keep out excessive boat traffic. All is left is the peace and quiet and most remarkable views you can imagine. Portobago Bay was formed in 1985 by developer Carl Silver. Before the development, this land was once a cattle farm owned by the Baylor family. The original home of the historic "Portobago" plantation originated in the 1700's and was owned by the Waring family. Lawrence Battaile White purchased the plantation in 1863 and the White family lived there until the house burned in 1910. This information came to me by Lawrence White's Great Grand Daughter, Nan Williams. The remnants of this house still stand in a grove of trees on northern point of Portobago Bay. This area is rich in history. I fell in love with this place back in 1988 while working for the Caroline County Sheriff's Office. The community always welcomed local law enforcement with open arms. I recollect times of just sitting at the very end of the very long dock and leaving my stress behind. I vowed to make my home here. In the year 2000, I purchased My lot 100 on the Portobago Creek. My wife, Christen, and I built our home here. We raise our five year old twins, Thomas and Rachel, in this community. We all enjoy family walks around Portobago Trail where it's not unusual to pass three or four other families doing the same. Road traffic on these state maintained roads are at a minimum. We bike ride. We fish at the commons area on the river and on Lake Powhatan. The community consist now of around 45 homes with a total of 106 lots. Some residents purchased their neighboring lots to avoid congestion. These residents are all just like family. We have about 5 get together a year, usually at the Reynold's Pavilion at the river commons area. We have numerous picnics for all occasions. There is a crime awareness day in which our children enjoy the company of McGruff, The Crime Dog. There are games for the kids to play and get to know their local law enforcement, curtious of the Caroline Sheriff's Office. We have a neighborhood crime watch program in effect here. I head that committee. I even have such a great relationship with our Sheriff's Office that they welcome our calls anytime, even if we are going out of town and want an officer to make sure our homes are safe until our return. If I were to define true paradise, it would be my Portobago Bay. The Bay is located far enough away from the hustle and bustle to be peaceful, yet close enough to be convenient. Our community consist of doctors, lawyers, CEO's, nurses, teachers, bankers, military personnel, engineers, and retired professionals, etc. We welcome you. Now, the secret is out.