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July Market Report

Good new or bad news first? Good news is the market in the Lexington - BuenaVista - Rockbridge area has not changed much.
The bad news but it has not really improved either.

 Inventory and Months of Inventory Report at current rate of sale for Residential in Lexington - Buena Vista - Rockbridge 
July 2008 Market Report Residential

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Inventory and Months of Inventory Report at current rate of sale for Land in Lexington - Buena Vista - Rockbridge

July 2008 Land Market Report

 

 

 

 

 

 

 

 

 

 

 

 

 

 

One of the interesting things to note in both of the above charts is the sales are remaining relatively flat
and the new listings are continuing to increase. This is causing a wide gap between the amount of properties
for sales & those sold. In other words - there is a lot to chose from.

Sellers this means you must price your property competitively & make your property sparkle to out shine your competition.
Buyers this means now is a great time to buy!

The two charts below are ones that I have not published in the Monthly Market Report before.

Sales Statistics by Area Land & Residential for July 2008July 2008 Sales Statistics by area


 

 

 

 

Sales Statistics by Area Land & Residential for July 2007July 2007 Sales by Area 

 

 

 

 

 

 

 

 

 

 

 

 

 

A few points I find to be of nterest from the Sales by Area Charts:

The DOM numbers are not dramaticaly different July 2008 vs July 2007.

Land sales were showing the affect of the market bubble prior to 2008 and are continuing that trend - way too much inventory in land.

The number of Residential sales droped 23% compared to July 2007 with the dollar volume dropping 45% over July 2007.

To wrap up this monthes report - remember this is only a broad snapshot of 1 month of the year. Many variables are involved in establishing
market trends & specific trends as they relate to your property. For a more detailed look please contact me candy@candylynn.com .

For a look at Virginia's 1st half 2008 Market Report please visit:
http://www.varealtor.com/Research/VirginiaHomeSales/tabid/228/Default.aspx for a podcast of the press release.

 

 

 

It's Rockbridge County FAIR Time!

In rural counties across the country, the county fair season has started. Those of us living in rural communities communities look forward to Fair.
It's a time for friends, a time for a little friendly competition - everything from tractor pulls to the the best chocolate cake! 

My favorite part of the fair is the FFA (Future Farmers of America) and the 4H competitions.
I spent a few hours walking around the livestock exhibits this week, talking with friends, kids & their parents. 

As always pictures are worth a thousand words and I took over 350 photos in a few hours!
Click here to: Enjoy the Rockbridge Regional Fair thru the eye of my camera!

 

http://www.flickr.com/photos/candylynn/collections/72157606224543465/

Like I said - I really enjoyed my time at the fair hope you did too!

Below is a bit about the 4-H & FFA Livestock Sale. I'll admit I'm a whimp when it comes to going to the sale. I just can't look the animal in the eye then see it on the dinner table.
It goes back to childhood at my grandparents farm. I did not eat chicken (not even my grandmothers outrageously delicious pan fried chicken) for 2 years after Charlie & Shirley disappeared to the freezer.

2008 4-H/FFA Livestock Sale
July 17, 2008 at 5:00 p.m.

Virginia Horse Center, East Complex

4-H/FFA Auction- A great place to buy locally grown products

The 4-H/FFA Livestock Auction is held annually to provide a special auction for 4-H and FFA exhibitors to sell their market animal projects.  This year the exhibitors will be offering approximately 90 animals for sale, 18 goats, 20 hogs, 29 lambs, and 22 steers. Exhibitors who sell livestock use the proceeds to reinvest in future 4-H/FFA projects, or they may set their earnings aside for an educational and/or business expense.

As a buyer, you are investing in these exhibitors’ futures by encouraging them to stay involved in agriculture.  The 4-H and FFA members are involved in various educational, community service projects, and entertainment activities throughout the year.

Benefits include:

Quality Products:  All animals sold will grade select or better as determined by a state grader.  You will receive top quality, locally raised beef, pork, lamb and goat.

Support: The livestock auction is a great place to show your community involvement and support of local youth.  Throughout the year exhibitors learn feeding, grooming, training, record keeping, and proper livestock management practices.  Exhibitors selling livestock may use the proceeds to reinvest in future projects or they may set their earnings aside for educational or business opportunities.

Advertising:  Your name will be announced at the sale, printed in the full-page ad in The News-Gazette, as well as being listed in all show materials for 2009.  Buyers also receive a thank you placard with a photo of the exhibitor and the animal purchased. 

           

Payment: Payment, if at all possible, is to be made the night of the auction. 

There are several ways you can participate!

Attend In Person: The annual auction is full of excitement for you as a buyer and for the exhibitor.  It will be an unforgettable experience for you.  Livestock Advisory Council members will be present to assist you with your bid.

           

By Proxy: You may contact a Livestock Advisory Council member to make a proxy bid.  This will allow a member of the council to make a bid for you.  Please contact Susan Showalter at (540) 460-2016, Margaret Ann Smith at (540) 460-4899 or Allen Strecker at (540) 570-7799 for more information.

On Sale Day: Please be sure to stop by the show office to become a registered bidder.  You will receive a buyer’s bid number at the time, as well as directions for the conclusion of the sale; such as buyer checkout, processor sheets, etc.

                       

**All animals purchased for consumption are transported, free of charge, to a local processor.

•Please contact the Rockbridge Count Extension Office at (540) 463-4734 or Susan Showalter (540) 460.2016, Margaret Ann Smith (540) 460-4899 or Allen Strecker (540) 570.7799 for more information on the sale.

 

 

Market Snapshot Reports for First Half of 2008

I have just posted 3 diiferent reports on the Market Conditions of Lexington, Buena Vista & Rockbridge County, Virginia for the first half of 2008.
Individually & together they give you an overview of the local real estate market. These are just a few of the tools available to look at the stats of our area.
For individual properties the search may be modified to give more specific information as it relates to similar properties. Contact me for a custom report: candy@candylynn.com

A related article & perhaps the best explaination of how we got to our current real estate market is The Subprime Meltdown by Lem Marshall, VAR

Market Stats for 1st Half 2008 part 3 - Price Range Report

This report ties the previous reports together with price range information. Note the difference between the selling prices & the active listing prices.

  Click Here for Part 1
  Click Here for Part 2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Posted by Candy Lynn | 1 Comments

First Half 2008 Statistics - Part 2 - Market Inventory

Again - the stats say it all...
I find these charts to really put things in perspective. These are just a few of the tools I use to evalutate the current market trends. I am happy to do specific statistics as they relate to your property. Please contact me: candy@candylynn.com

Residential - Market Report Lexington, Buena Vista & Rockbridge

market inventory

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

details

LAND - Market Report Lexington, Buena Vista & Rockbridge

Land Market Report

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Snapshot of Market in Rockbridge County, VA Area - 1st Half 2008 - part 1

They say a picture is worth a thousand words, in this case the actual stats straight off the MLS says it all...

Year over year - RESIDENTIAL -  Lexington, Buena Vista & Rockbridge County

Residential Year over Year LBVR

Year over Year - LAND - Lexington, Buena VIsta & Rockbridge County

LAND year over year 1st half 2008 LBVR

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call: Candy 540-460-0058
email: candy@candylynn.com 

Horse Area:
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Those were the days

For about 14 years we went to the International Fancy Food Show.

Most of those were as the founder of Cooks & Connoisseurs but a couple were as a Food Broker representing about 30 companies.
Those were indeed the days. Image the entire Jacob Javits Center in NYC filled to overflowing with gourmet food vendors from all over the world vying for you to sample their products. In the space of 20' you could taste the worlds best chocolates, 3 mustards, 2 salsas, 4 pates & that's just the a few examples.

Yes indeed those were the days.

This years show is being held June 29th - July 1st. I will not be there - only folks in the industry are allowed to attend. I could call in a favor from friends still in the industry - hmmm maybe next year.

Interesting facts about the show http://www.specialtyfood.com/do/fancyFoodShow/ShowFacts

 

 

Posted by Candy Lynn | 0 Comments

May Market Statistics

I have been providing clients, sellers & buyers, with market trends reports for awhile but have not posted them on the website for several reasons.
The main one  - general numbers are vague numbers meaning that one size does not fit all when it comes to stats.  The report below is perhaps the best of the market snap shots for Rockbridge County (not including cities of Buena Vista or Lexington) for residential properties. (note: this report is 1.1.2008 to 6.3.2008) Its a good starting point for market research, you can quickly compare how many homes have sold in a price range with those that are currently active or pending. An interesting comparison is the average & median selling price compared to the average & median listing price - this may help explain some of the long days on market. Check back for my next post - refining the search for more meaningful stats.

Price Range Report

For 1/1/2008 To 6/3/2008

Today's date: 6/3/2008

document.writeln(searchparam);Search Parameters: Property type Residential/Farm; Area of ' Rockbridge'.

Single Family Unit Sales
Number of Bedrooms

Condominium Unit Sales
Number of Bedrooms

Active Listings

Sales Pending

Price Class

2 or less

3

4 or more

Total

2 or less

3

4 or more

Total

Single Family

Condos

Single Family

Condos

$29999.99 and under

 0

 0

 1

$30000-$39999.99

 0

 0

 1

$40000-$49999.99

 1

 1

 0

$50000-$59999.99

 1

 1

 0

 4

$60000-$69999.99

 1

 1

 2

 0

 2

$70000-$79999.99

 0

 0

 1

$80000-$89999.99

 1

 1

 0

 2

$90000-$99999.99

 1

 1

 1

 3

 0

 1

 1

$100000-$119999.99

 2

 3

 5

 0

 8

$120000-$139999.99

 5

 5

 3

 3

 8

$140000-$159999.99

 6

 6

 0

 9

 3

$160000-$179999.99

 2

 2

 1

 5

 0

 11

$180000-$199999.99

 1

 1

 1

 1

 13

 2

 2

$200000-$249999.99

 5

 1

 6

 0

 28

 1

$250000-$299999.99

 1

 1

 2

 0

 25

 1

$300000-$399999.99

 1

 2

 4

 7

 0

 64

$400000-$499999.99

 1

 4

 5

 0

 35

 2

$500000 and over

 3

 3

 0

 56

 1

***Totals***

 8

 34

 11

 53

 3

 1

 0

 4

 269

 5

 6

 2

***Average***

193,446

263,072

223,500

244,349

135,333

189,000

0

148,750

413,143

165,600

344,900