In each Economic Update, the Research staff analyzes recently released economic indicators and addresses what these indicators mean for REALTORS® and their clients. Today’s update discusses new home sales. Although new home sales were roughly … [Read more...]
Cash Sales: 27 Percent of Residential Sales
Approximately 27 percent of REALTORS® reported making cash sales in August, unchanged from July’s figure, according to the latest REALTORS® Confidence Index survey. The percentage of cash payments fluctuates from month to month. The high … [Read more...]
Stink bugs invade Virginia
Meet the brown marmorated stink bug: A creepy little bugger that can release an odor when attacked (it smells like cilantro — go figure). It was “imported” from Asia about 15 years ago, and has made its home across the … [Read more...]
Victims of illegal foreclosure will soon get payment
About 46,000 Virginians will soon be able to get their due from the national mortgage foreclosure settlement — they’ll be receiving the paperwork in the mail. That settlement was reached with the nation’s five biggest lenders, which … [Read more...]
Good numbers from existing-home-sales report
Two things of note from NAR’s August existing home sales report: First-time buyers make up about 31% of the market, and distressed sales (foreclosures and short sales) only make up about 22%. (Note: Just in case it’s not clear, those … [Read more...]
Determining the Cost and Benefit of a Home Renovation Project
By Erin Devine, DIY Home & Floor Blog Often, home owners want to update the kitchen with granite countertops, install new flooring or renovate the basement to make their homes more appealing to buyers. Before you begin planning your renovations, … [Read more...]
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