Roanoke, VA Real Estate News

By Damon Gettier, Broker/Owner ABRM, GRI, CDPE
(Damon Gettier & Associates, REALTORS- Roanoke Va Short Sale Expert)
I found the best Bacon Cheeseburger in Roanoke VA!  I love my town....I guess it is pretty obvious.  I guess anytime you open a business and sign a 10 year lease you had better love the place you work and live!?!?  I love Roanoke and I don't love restaurant chains.  Is that sacralage?  I think in America it is but I have to be honest about it.  I don't really enjoy any of the food chains, fast food or otherwise.  My girlfriend stopped by the office today to pick me up for a burger.  She had mentioned going to the Market in downtown Roanoke this weekend and that is where we were headed.  As crowded as downtown Roanoke VA is, it didn't take us two seconds to find a parking place. (Roanoke has taken HUGE steps lately trying to create a better downtown and parking experience) In just a thir...
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By Walter Grewe III, Realtor, SFR, A-REO, Roanoke Homes and Real Estate
(Long and Foster Realtors)
      Thinking of moving up to a new home in Roanoke, Va.?       Are you thinking of moving up to a new home in Roanoke, Va.? These questions will help you decide whether you're ready for a home that's larger or in a more desirable location. If you answer yes to most of the questions, it's a sign that you may be ready to move.        Have you built substantial equity in your current home? Look at your annual mortgage statement or call your lender to find out. Usually, you don't build up much equity in the first few years of your mortgage, as monthly payments are mostly interest, but if you've owned your home for five or more years, you may have significant, unrealized gains. Ther government is also offering a $6,500 tax credit to qualifying homeowners who sell their current home and pur...
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By Damon Gettier, Broker/Owner ABRM, GRI, CDPE
(Damon Gettier & Associates, REALTORS- Roanoke Va Short Sale Expert)
I am amazed that more and more homes are going into foreclosure in the Roanoke Virginia market and the homeowners actually have equity and are allowing themselves to be foreclosed on. In talking to some of these previous homeowners I am finding that most of them are either: 1) Overwhelmed by the events that led to the foreclosure process 2) Embarrassed that they are unable to pay their mortgage payment 3) Don't know that once they are behind on their mortgage that there is still a way out 4) Don't realize that their are real estate agents trained to help them in these situations. 5) A combination of the above There are thousands of foreclosures coming on the market everyday.  Believe it or not (sometimes it is hard to believe) banks don't want to foreclose on homeowners.  Banks make ver...
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By Damon Gettier, Broker/Owner ABRM, GRI, CDPE
(Damon Gettier & Associates, REALTORS- Roanoke Va Short Sale Expert)
Here are the approximate interest rates for the Roanoke Virginia area.  Unlike some sources these are realistic interest rates that normal people can use. (not the interest rates if you are putting 50% down and have an 860 credit score while standing on your left foot, juggling 4 glasses of milk) USDA 5.25 (this gives qualified buyers the opportunity to buy with 0 down in most of the County's around Roanoke, including Roanoke County Virginia) FHA- 5.00 (requires 3.5% down payment) There is a blended option called a VHDA that has more down payment flexibility....call for details. VA- 5.00 Conventional (30 year) 5.25 If you have any questions or need to talk to a lender over the weekend, give Joel Balsley with Atlantic Bay a Call- 540-597-8877. Have a great weekend house hunting! Damon
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By Damon Gettier, Broker/Owner ABRM, GRI, CDPE
(Damon Gettier & Associates, REALTORS- Roanoke Va Short Sale Expert)
I am posting this as a separate blog so that it might catch someones attention that would have normally not noticed. I would almost guarantee that 90% or more of home owners do NOT have a Septic/Sewer Backup Rider on their home owner insurance policy.  Please guys, call your insurance agent and ask about this coverage.  For literally pennies a day you could save tens of thousands of dollars in damage and pure nastiness!  Imagine having an inch to twelve inches of sewage in your basement!  Think of the health concerns! Sometimes we need to not be penny wise and pound foolish...this is one of those times.   Damon
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By Walter Grewe III, Realtor, SFR, A-REO, Roanoke Homes and Real Estate
(Long and Foster Realtors)
Top 5 reason to use a Realtor when buying a home in Roanoke,VA.       During a recent visit to the National Association of Realtors website to keep myself informed of current events I came across this free information and wanted to share it with you.         1. You'll have an expert to guide you through the process. Buying or selling a home usually requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multi-page settlement statements. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes.         2. Get objective information and opinions. REALTORS® can provide local community information on utilities, zoning, schools, and more. They'll also be able to provide objective information about each property. ...
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By Vicki Millehan, Vickinulls Lake Homes - Smith Mountain Lake, VA
(Prudential Waterfront Properties)
If you have been looking for a way to shake off the winter doldrums, check out what's happening at the Roanoke Civic Center. It is worth the drive even if you are coming from Smith Mountain Lake, Bedford or beyond! Bring the whole family and enjoy a night out on the town in Roanoke. If you have a young child then you have probably become familiar again with the Mickey Mouse Clubhouse gang. Well, the gang is ready for a musical adventure in Disney Live! Rockin' Road Show! Cool songs mark this crazy adventure with Mickey and the gang. This is a show both you and your children will enjoy! There will be two performances on Saturday February 27th at 12:30pm and 3:30pm. Tickets are already on sale! You can also enjoy a little "March Madness" of your own! On their 84th consecutive season tour...
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By Walter Grewe III, Realtor, SFR, A-REO, Roanoke Homes and Real Estate
(Long and Foster Realtors)
      Roanoke, VA. 1st time buyers, move up buyers and repeat home buyers,don't miss out on the Real Estate tax credits. The deadlines to take advatange of these historic programs is drawing near. The average days for a home to sell across the Roanoke Valley is in the mid 70's, as of today there are 75 days until the April 30th deadline to have a home under contract to purchase. Listed below are the guuidelines for the 1st time buyer credit and the repeat buyer credit.       The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase. The tax credit does not have to be repaid unless the home is sold or ceases to be used a...
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By Damon Gettier, Broker/Owner ABRM, GRI, CDPE
(Damon Gettier & Associates, REALTORS- Roanoke Va Short Sale Expert)
lol...I will tone it down a bit after my snow blog from last night!  I might even go back and edit that one.  It is funny how quickly you can type when you are frustrated. Roanoke VA Sellers, we have a tremendous amount of inventory on the market right now.  Unfortunately not a lot of it is nice, in good repair and clean.  Here are some helpful hints to get the most amount of money with the least time on the market:   1) Rent a storage unit and put EVERYTHING that is not necessary in that storage unit.   2) Clean everything....once it is all clean...clean it again   3) Keep it that way!   4) You and your family might suffer without some of your prized possessions or toys for a while....better to suffer for a short while and sell your house than suffer in your current home and never sell...
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By Damon Gettier, Broker/Owner ABRM, GRI, CDPE
(Damon Gettier & Associates, REALTORS- Roanoke Va Short Sale Expert)
Ok.....pics will be posted tomorrow....now that the disclaimer is out of the way- I was showing houses today.....trying to at least.....I mean my buyer wants to buy a house but when we are trudging though 18" of snow to get into a house I really have to doubt the sincerity of the seller!  Everyone in Roanoke has had to deal with snow this year.  Roanoke Real Estate Listings ARE selling!  Home Sales in Roanoke have been very active in January of this year.  Our Roanoke office has had as much activity this year as we did in the last four months of 2009.  Roanoke home buyers want to look at houses.  I have had way too many houses in the last week where we needed knee boots just to get to the door. Note to Sellers! Buyers are actively buying property!  We need ACCESS!!!  If I call you and y...
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By Damon Gettier, Broker/Owner ABRM, GRI, CDPE
(Damon Gettier & Associates, REALTORS- Roanoke Va Short Sale Expert)
Boy!  Al Gore and his Global Warming!  You would think that after inventing the internet and all he would realize that he has done enough for the world....now I have come to realize he has also fixed Global Warming! I hope you enjoy some of the pictures I took of Roaoke and Botetourt County VA this past week. I don't know why but ever since I was a kid I never saw a barn I didn't like.            
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By Damon Gettier, Broker/Owner ABRM, GRI, CDPE
(Damon Gettier & Associates, REALTORS- Roanoke Va Short Sale Expert)
I know everyone is stressed out about the mountain of snow we are getting this year.  Never in my lifetime have I ever seen this much snow in Virginia.  Most are dealing with it rather well it seems.  Luckily after most of the snows it warms up into the mid 30's and melts off of the roads.  Before the snow storm last weekend I bit the bullet and called my friends Scott and Jamie at Firestone Tire (774-7788), and told them I needed new tires for my truck.  My tires had great tread for regular Roanoke VA weather but not for this mess!  Within a less than an hour I had a new set of Bridgestone Dueler AT's on my truck...Today my home inspector, Blue Ridge Home Inspection (598-4474), called and was complaining about getting around in the snow so I sent him to Jamie and Scott....they had Tim ...
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By Walter Grewe III, Realtor, SFR, A-REO, Roanoke Homes and Real Estate
(Long and Foster Realtors)
     What are the hottest areas in Roanoke,VA. for houses for sale? Check out the chart below. Some of these zip codes have seen a huge year over year increase in units sold.
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By Walter Grewe III, Realtor, SFR, A-REO, Roanoke Homes and Real Estate
(Long and Foster Realtors)
      Beleive it or not....100% financing is available in Roanoke, VA for 1st time buyers.  The FHA and VHDA have teamed up to provide a program to assist first time buyers is getting a home. Coupled with the 1st buyer tax credit of $8,000 and the low interest rates this creates an excellent opportunity for 1st time buyers. The details are shown below. If you would like more information on the federal tax credit we have created a $8,000 Tax Credit/First Time Buyer Information line 888 279 0083 ext.8878.
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By Walter Grewe III, Realtor, SFR, A-REO, Roanoke Homes and Real Estate
(Long and Foster Realtors)
      Big impact, low cost remodeling projects can make a big difference when listing your home for sale. In a recent issue of the National Association of Realtors magazine "Realtor" several projects were discussed for Sellers who have some, but not unlimited cash for upgrades.        One place that has a big impact on homebuyers is the kitchen. Adding pull out shelving to exisitng cabinets is a great way to update without replacing.         Most home improvement stores carry inexpensive tile that can beused to update a backsplash or add a new one. For $1 to $2 a tile and the cost of labor this is a great way to add some new color to a kitchen.       The final tip is to have an electrician replace old track lighting with recessed canned lights on a dimmer switch to add ambiance. These t...
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By Damon Gettier, Broker/Owner ABRM, GRI, CDPE
(Damon Gettier & Associates, REALTORS- Roanoke Va Short Sale Expert)
I am sorry....I really try to not get on a soap box with my blog but I really don't understand.  Here is the situation: Today I rode around with one of my agents who was doing inspections for a mortgage company.  This mortgage company is getting ready to foreclose on these properties.  How many?  Today he did over twenty (20) inspections!  How many of these were on the market? ZERO!!! (0)!!!! Why? If you get a notice from the bank, PLEASE talk to them!  If you don't want to talk to them than please talk to me.  I know that there is nothing fun about talking to someone about why you can't pay your mortgage but let's face it....it is happening to millions of people across the Country. I am willing to help in any way that I can.  Sometimes a foreclosure it the only answer but in most circu...
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By Walter Grewe III, Realtor, SFR, A-REO, Roanoke Homes and Real Estate
(Long and Foster Realtors)
Barnes&Noble Bookfair supporting the Roanoke County Public Library        Saturday, Jan.30 - Friday, Feb.5 A great way for people to educate, amuse or buy a present for someone and help out the local community at the same time.              Tanglewood Mall   4478 Electric Rd Roanoke, VA.              Please join us. Please present voucher prior to making a purchase. A percentage of the net sale will be donated to your library. If you do not have number, just mention Roanoke County Library.        Thanks for your support.
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By Walter Grewe III, Realtor, SFR, A-REO, Roanoke Homes and Real Estate
(Long and Foster Realtors)
      Looking for a home to buy? Theres more to it than meets the eye. Most first time homebuyers are amazed when they begin the process. Unfortunately many are never informed of all the steps involved until they have submitted a contract to purchase a home.       Did you know that in Virginia there is an Agency Disclosure form that details the duties and responsibilities of the Realtor to their client?       Did your Realtor take the time to determine your exact needs and wants or just ask you how much you wanted to spend?       Did your Realtor refer you to several mortgage lenders in order for you to be able to determine who can service your needs the best?       Have you ever had the contract acceptance process explained to you? The difference between pre-approval and the actual loa...
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By Walter Grewe III, Realtor, SFR, A-REO, Roanoke Homes and Real Estate
(Long and Foster Realtors)
      The Norwood subdivision continued a strong year in home sales. The average days on market was 60, lower than other areas of the Roanoke market. The listed price to actual sales price was a respectable 95%.       As always homes that are move in condtion and price correctly are moving quickly. The $6,500 government tax credit for people selling their homes is till available to anyone living in their home for 5 consecutive years of the last 8 and under contract to purchase by April 30th, 2009. I am always available to discuss any  real estate questions or concerns.  
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By Walter Grewe III, Realtor, SFR, A-REO, Roanoke Homes and Real Estate
(Long and Foster Realtors)
      Recently Long & Foster Realtors held a regional sales meeting here in Southwest Virginia. Alexander Boone of Boone and Company spoke to the attendees. Mr. Boone brought several important issues concerning the Roanoke market to light is his presentation.       The first was the average sales price for Roanoke, VA. in 2006 was $209,000 while the national average was $221,000. Fast forward to 2009 and the national average has dropped to $173,000 while Roanoke is now $188,000, meaning that Roanoke now exceeds the national average.       There is opportunity in the real estate market right now. The current market offers excellent affordability, low interest rates, and free tax credits for buyers and sellers from the federal government. The government has kept interest rates low but tha...
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