Southwest Virginia Blogs

This is the view from my downtown Roanoke office at Hall Associates, Inc. on the 10th floor of the Carilion Administrative Services Building (CASB), formerly the old First Union building. I never mentioned before that I have been hired by the Roanoke commercial real estate firm as their director of marketing! Some interesting facts about Hall Associates, Inc.:

• Founded in 1975
• We are Western Virginia’s largest commercial real estate company
• We have commercial real estate offices in Roanoke and Lynchburg
• We manage over 6.2 million square feet of real estate…that’s 108 football fields!
• We have completed real estate transactions in 8 states
• I work there!

Whether you have a commercial or residential real estate need, contact me. I have the experience and expertise you need.

Tags: hall associates inc, hall associates roanoke, roanoke commercial real estate, lynchburg commercial real estate, new river commercial real estate

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Roanoke homeowners can expect lower gas prices in 2007!

From The Roanoke Times-

Bottlenecks in the nation’s natural-gas pipeline system won’t change the cost of home heating in the Roanoke area this winter, said John Williamson, president of Roanoke Gas and RGC Resources. Essentially, a forecast Williamson offered earlier this year still holds. Bills are likely to be about $50 below last year [emphasis added] for the average residential customer in December and January, he said.

Tags: roanoke gas, rgc resources

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Copyright © 2006 Roanoke Virginia Real Estate. This Feed is for personal non-commercial use only. If you are not reading this material in your news aggregator, the site you are looking at is probably using it without permission. Refer to the originating site for more information- http://blog.roanokehousehunter.com/

Roanoke homeowners can expect lower gas prices in 2007!

From The Roanoke Times-

Bottlenecks in the nation’s natural-gas pipeline system won’t change the cost of home heating in the Roanoke area this winter, said John Williamson, president of Roanoke Gas and RGC Resources. Essentially, a forecast Williamson offered earlier this year still holds. Bills are likely to be about $50 below last year [emphasis added] for the average residential customer in December and January, he said.

Tags: roanoke gas, rgc resources

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Copyright © 2006 Roanoke Virginia Real Estate. This Feed is for personal non-commercial use only. If you are not reading this material in your news aggregator, the site you are looking at is probably using it without permission. Refer to the originating site for more information- http://blog.roanokehousehunter.com/

Well, it seems to be finally happening, whether due to the downturn in the overall national real estate market or due to the fall season coming upon us (or both), but the real estate market in Roanoke finally seems to have slown down.

I’ve personally noted a decrease in calls not only about the houses I have for sale, but also from prospective buyers I’m working with.  Traditionally, the real estate season takes a cooling off period from mid-October to early springtime and this year it seems to be right on time.

I will be very soon listing a foreclosed home in the Vinton area of Bedford County.  It needs some general fixing up on the outside, a broken window or two fixed, some mowing and landscaping and some minor exterior work.  There are some sofits coming loose and gutter that needs reattached to the roof line, but otherwise is in relatively good shape.  It would be a great home to flip or for an investor looking for a home to fix up and then rent.  I may already have a renter lined up as well if any investor out there wants to talk about it!

Tags: foreclosed roanoke homes, roanoke real estate sales

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According to the Virginia Association of REALTORS®, home sales in the Roanoke Valley increased during the month of June defying the downward trend of other regions in Virginia and nationally.

Areas showing increases in closed transactions for the month included the Charlottesville Area, Eastern Shore, Harrisonburg/Rockingham County, Lexington/Buena Vista, Lynchburg, Chesapeake Bay & Rivers, New River Valley, Richmond Metro, Roanoke Valley, and Southwest Virginia. [Emphasis added.]

Sales in the Roanoke Virginia real estate area were on the rise in May as well.

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Copyright © 2006 Roanoke Virginia Real Estate. This Feed is for personal non-commercial use only. If you are not reading this material in your news aggregator, the site you are looking at is probably using it without permission. Refer to the originating site for more information- http://blog.roanokehousehunter.com/

CNNMoney.com had a really good article on Tudor style homes the other day.

Here’s a short excerpt-

Tudor homes are based on the architecture of England at the end of medieval times. The style evolved during the late 15th century and lasted until shortly after the turn of the 17th century.

Half-timbered, stucco walls, turrets and steeply pitched roofs with cross gables are characteristics of the style. Windows tend to be very tall and panes very small; they’re often leaded in a diamond pattern. Arched entryways and substantial chimneys topped by terra cotta pots are also common Tudor themes.

I’ve always loved the architecture in Roanoke’s tudor homes. The Grandin Village, Raleigh Court and Grandin Court areas in Roanoke, as well as others, have many tudor style homes. There are several tudor style homes on the market in Roanoke right now. Contact me for more information or a no-obligation showing. The picture to the right is from one of the homes currently on the market.

Tags: roanoke tudor homes, tudor style homes, grandin village, grandin court, raleigh court, roanoke virginia

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Copyright © 2006 Roanoke Virginia Real Estate. This Feed is for personal non-commercial use only. If you are not reading this material in your news aggregator, the site you are looking at is probably using it without permission. Refer to the originating site for more information- http://blog.roanokehousehunter.com/

To :

Area Firefighters
Area Law Enforcement Officers
Area EMS Personnel

In appreciation for the work you do for the people of the Roanoke Valley, I am now offering a great incentive for you to help you with the sale of your home and/or the purchase of your new home.

I will discount my normal commission for you on the house you are selling to help you save on the sell of your home, and, whether you’re selling a home or buying your first home, I will offer you a rebate on my commission I earn on the purchase of your home and apply it toward your closing costs to help you at closing.

There are no strings attached. Being a former EMT-Cardiac and working with local law enforcement during a six and a half year stint as a Magistrate in the Roanoke Valley, I appreciate the hard work you put into your careers and know civil servants don’t always make the highest salaries for the work they do.

Give me a call at (540) 397-0014 or email me for more information.

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Copyright © 2006 Roanoke Virginia Real Estate. This Feed is for personal non-commercial use only. If you are not reading this material in your news aggregator, the site you are looking at is probably using it without permission. Refer to the originating site for more information- http://blog.roanokehousehunter.com/

To :

Area Firefighters
Area Law Enforcement Officers
Area EMS Personnel

In appreciation for the work you do for the people of the Roanoke Valley, I am now offering a great incentive for you to help you with the sale of your home and/or the purchase of your new home.

I will discount my normal commission for you on the house you are selling to help you save on the sell of your home, and, whether you’re selling a home or buying your first home, I will offer you a rebate on my commission I earn on the purchase of your home and apply it toward your closing costs to help you at closing.

There are no strings attached. Being a former EMT-Cardiac and working with local law enforcement during a six and a half year stint as a Magistrate in the Roanoke Valley, I appreciate the hard work you put into your careers and know civil servants don’t always make the highest salaries for the work they do.

Give me a call at (540) 397-0014 or email me for more information.

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Copyright © 2006 Roanoke Virginia Real Estate. This Feed is for personal non-commercial use only. If you are not reading this material in your news aggregator, the site you are looking at is probably using it without permission. Refer to the originating site for more information- http://blog.roanokehousehunter.com/

Several professionals I have talked to about real estate in the Roanoke Valley have expressed concern over the discount brokerages emerging in Roanoke. Today, The Roanoke Times has written an article touting the “big” money an individual can save by hiring a discount brokerage to sell their home as opposed to a “traditional” real estate agent.

I’m not concerned, there will always be people who look for the cheapest way to do something, even though it isn’t likely the best way. The best example I can give is, you wouldn’t always hire the cheapest attorney just because they were cheap. You want someone who is effective, communicated well and can get the job done successfully.

I’d like to point out this quote from the above story for those who might miss it–

Discount brokers sell homes at a lower percentage fee, but they may not offer all of the services that a traditional real estate agent offers.

Bingo! Most people don’t realize that most “traditional” real estate agents pay for advertising out of their own pockets. Most all costs associated with selling your home the individual agent pays. (not their broker) In most cases, they also have to split this commission with the buyer’s agent. So let’s use a $100,000 home for an example. The agent earns (in a 6% commission instance) $6,000. They split that with the buyer’s agent. So the agent earns $3,000. But wait, they have to pay their broker a percentage as well. Let’s say it’s between 20-30% on average. Now, let’s say the agent advertises your home a few times in the local Roanoke paper, and maybe once or twice in a local real estate magazine. Plus the cost of a few open houses (refreshments) and the price of gasoline (yikes!) to show your home to prospective buyers. You can see easily how now they would be down to around $1,500 or less earned for selling your home. So while it looks on the surface like a $6,000 payout, in reality most “traditional” real estate agents earn far less than the commission.

Tags: real estate agent commission, discount commission realtors, roanoke virginia real estate

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According to CNN Money, real estate prices in the City of Roanoke have increased 6.86% in the previous 2-5 years compared to a nationwide average of 14.88%.

For comparison, here are a few rates of increase from around Virginia-

• Charlottesville - up 12.82%
• Richmond - up 8.38%
• Virginia Beach - up 13.59%
• Alexandra - up 23.67%

So as you can see, home values in and around Roanoke are still a great deal compared to Virginia and the rest of the nation!

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Copyright © 2006 Roanoke Virginia Real Estate. This Feed is for personal non-commercial use only. If you are not reading this material in your news aggregator, the site you are looking at is probably using it without permission. Refer to the originating site for more information- http://blog.roanokehousehunter.com/

The Center for Science in the Public Interest has issued a report slamming 23 states for poor school lunch programs. According to CSPI, the Commonwealth of Virginia received a ‘D’ for it’s school nutrition programs.

There is currently bipartisan legislation pending in Congress to address the issue of school nutrition. According to CSPI-

Bipartisan legislation (S. 2592 and H.R. 5167) introduced earlier this year would require USDA to bring its nutrition standards for foods sold out of vending machines, school stores, and a la carte in line with current nutrition science, and to apply those standards to all foods sold on campus throughout the school day.

Interestingly, Kentucky received the highest grade for school nutrition in the nation, an ‘A-’.

• Roanoke County school lunch menus
• Roanoke City school lunch menus
• Salem school lunch menus (link on left menu)

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According to the Roanoke Times, there is a new real estate development in the works for Troutville in Botetourt County. The area in question, a rolling 43-acre tract of landing bordering Route 11 near the corner of Valley Road will be developed to include a nature preserve, chipping green, horse barns and 3-story apartment buildings.

“The project…would house enough people to double the population of Troutville. The Troutville Town Council has embraced the project. It recently approved Tam’s request to rezone about half of the property from agricultural to multifamily residential.”

I don’t know about you, but I think one of the major attractions of the Troutville area is it’s quaintness and relative peace and quiet.

“William Rader, the town’s mayor, said the town council doesn’t think the development will dramatically affect the look of the town because Tam told him it will be hidden by tree cover.”

(Emphasis added)

I don’t know about the town council, but I think doubling the population of the town and adding 3-story buildings and a driving range qualifies as a dramatic change in such a small town.

It also begs the question, how does Botetourt County and the Town of Troutville plan to support such a huge change in population with services such as fire and rescue and schools?

Botetourt County officials, however, have some concerns about the impact the project will have on emergency services, schools and traffic along U.S. 11. Erosion and sediment control are other concerns.

Isn’t that what I just said?

“It seems pretty aggressive to me to build that number of units in that location,” said Botetourt County Administrator Jerry Burgess.

Well, at least someone appreciates that this is more than just an ornamental change to the landscape and community. Wouldn’t it be nice if for once real estate developers would just come out and be a little more forthright?

Maybe a statement like this–

‘Yes, this development is large, wieldy and will dramatically change the community, but it will make me a lot of money’.

We can only hope.

Tags: troutville real estate development, ed tam troutville

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Copyright © 2006 Roanoke Virginia Real Estate Blog. This Feed is for personal non-commercial use only. If you are not reading this material in your news aggregator, the site you are looking at is probably using it without permission. Refer to the originating site for more information- http://blog.roanokehousehunter.com/

According to the Roanoke Times, there is a new real estate development in the works for Troutville in Botetourt County. The area in question, a rolling 43-acre tract of landing bordering Route 11 near the corner of Valley Road will be developed to include a nature preserve, chipping green, horse barns and 3-story apartment buildings.

“The project…would house enough people to double the population of Troutville. The Troutville Town Council has embraced the project. It recently approved Tam’s request to rezone about half of the property from agricultural to multifamily residential.”

I don’t know about you, but I think one of the major attractions of the Troutville area is it’s quaintness and relative peace and quiet.

“William Rader, the town’s mayor, said the town council doesn’t think the development will dramatically affect the look of the town because Tam told him it will be hidden by tree cover.”

(Emphasis added)

I don’t know about the town council, but I think doubling the population of the town and adding 3-story buildings and a driving range qualifies as a dramatic change in such a small town.

It also begs the question, how does Botetourt County and the Town of Troutville plan to support such a huge change in population with services such as fire and rescue and schools?

Botetourt County officials, however, have some concerns about the impact the project will have on emergency services, schools and traffic along U.S. 11. Erosion and sediment control are other concerns.

Isn’t that what I just said?

“It seems pretty aggressive to me to build that number of units in that location,” said Botetourt County Administrator Jerry Burgess.

Well, at least someone appreciates that this is more than just an ornamental change to the landscape and community. Wouldn’t it be nice if for once real estate developers would just come out and be a little more forthright?

Maybe a statement like this–

‘Yes, this development is large, wieldy and will dramatically change the community, but it will make me a lot of money’.

We can only hope.

Tags: troutville real estate development, ed tam troutville

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Copyright © 2006 Roanoke Virginia Real Estate Blog. This Feed is for personal non-commercial use only. If you are not reading this material in your news aggregator, the site you are looking at is probably using it without permission. Refer to the originating site for more information- http://blog.roanokehousehunter.com/

According to The Richmonds Times-Dispatch, the Virginia Department of Taxation is posting (read: trying to embarrass) delinquent tax payers into coughing up their arrears.  The full list is here- http://www.tax.virginia.gov/.  As of today there are only two listed from near this area, one in Lynchburg and another in Danville.

The Roanoke City Commissioner of the Revenue has a similar process with their real estate tax auction where they post the names and full arrears of delinquent real estate owners in the local newspaper and online.

Tags: roanoke city real estate tax sale

According to The Richmonds Times-Dispatch, the Virginia Department of Taxation is posting (read: trying to embarrass) delinquent tax payers into coughing up their arrears.  The full list is here- http://www.tax.virginia.gov/.  As of today there are only two listed from near this area, one in Lynchburg and another in Danville.

The Roanoke City Commissioner of the Revenue has a similar process with their real estate tax auction where they post the names and full arrears of delinquent real estate owners in the local newspaper and online.

Tags: roanoke city real estate tax sale

You know the old saying, “Cutting off your nose to spite your face…”.

The Roanoke Times reported today that Roanoke City Manager Darlene Burcham has cut the budget of the Roanoke Valley Convention & Visitors Bureau (RVCVB) by $30,000 because she’s angry that other local governments (Salem, Roanoke County and Franklin County) are not contributing their fare share.

For those who don’t know, the Roanoke Valley Convention & Visitors Bureau (RVCVB) is the marketing arm to increase tourism in the Roanoke Valley.

For the fiscal year 2004-05, Roanoke City saw a gross revenue from their lodging tax (that’s the tax you pay on your hotel room) of 2.5 million. Roanoke City contributed $847,440 during the same time period. That’s a pretty good return on investment, roughly $3 earned for every $1 spent. That doesn’t include the income from sales tax and other money brought into the City of Roanoke from other tourist activities that aren’t as easy to track. (Get all the numbers from The Roanoke Times story.)

So if you follow the stats, Roanoke City stands to lose about $90,000 by cutting their budget to the RVCVB. I understand that the City may be frustrated they’re carrying a bigger burden in this arena, but their revenue is also higher tax-wise than the other participating counties and city.

This seems to me to be another example of the pettiness between our local governments. I say grow up, climb out of the crib and start acting like responsible government officials.

Tags: roanoke valley tourism, roanoke city budget, darlene burcham, roanoke valley convention & Visitor's Bureau

According to the Virginia Association of REALTORS®, several areas around the state, including Roanoke, showed increases in home sales since March 2005.
Also from the report-

Virginia’s median existing-home price for March was up just under 5% from last year at $176,093, compared to $168,125 for 2005. The median is a typical market price where half of the homes sold for more and half sold for less. Nationally, the median existing single-family home price was $217,300 in March, up 7.8 percent from a year ago, according to the National Association of REALTORS.

In March, the average sales price was $267,212, compared to last year’s average of $234,770. Areas showing increases in closed transactions for the month included the Dan River Region, Lynchburg, Martinsville/Henry County, Chesapeake Bay & Rivers, Roanoke Valley, Richmond, Southwest Virginia, Williamsburg, and the Greater Augusta County area.

You can read the full report here.

Tags: roanoke virginia real estate sales, virginia real estate sales

As I reported before, the Botetourt County Board of Supervisors has voted to lower the real estate tax rate for property owners.  According to The Roanoke Times, this happened last in 1998.

The Botetourt County real estate tax rate will be lowered from 70 cents to 65 cents per $100 of value.

The City of Bedford, according to The Roanoke Times and The News & Advance, are seeking to use the government power of eminent domain to condemn and take the farm property of Mike Schrock. Mr. Schrock’s Bedford City real estate is zoned for planned industrial development which makes it a prime piece of property for the City of Bedford.

The City of Bedford has offered Mr. Schrock $300,000, a pittance for his 44 acres of farm land. It’s also interesting to note his real estate is contaminated by a Bedford-owned land fill.

Unfortunately for Mr. Schrock, as unfair as this situation appears to be, he doesn’t have much hope in court. The Code of Virginia specifically allows the (ab)use of eminent domain by localities and the U.S. Supreme Court has recently upheld this practice as well.

For more information on eminent domain in Virginia, visit the website of The Virginia Property Rights Coalition.

Tags: eminent domain, city of bedford real estate

According to The Roanoke Times, a company selling lead generation services on the Internet to mortgage brokers has drawn numerous complaints for bogus leads.  The company, marketing itself at Telextra.net, and receiving mail at a Mailboxes, etc. location on Franklin Road has had 22 complaints filed against it with the Better Business Bureau of Western Virginia in Roanoke, 6 complained to the Virginia Department of Agriculture and Consumer Services and 2 have complained to the Virginia attorney general’s office.

Caveat Emptor.

Tags: mortgage fraud