Federal Reserve Chairman Jerome Powell doesn't see any good reason why average 30-year mortgage rates pole-vaulted over the 3% line in the last week, to the highest level since mid-June.
Rates have been following along as the interest on Treasury bonds has skyrocketed due to worries that an improving economy will stoke inflation. But Powell tells members of Congress that inflation is still "soft" and that the road ahead for the economy is "highly uncertain."
For borrowers, "it's time to wake up," writes Matthew Graham, MND's chief operating officer.
"Following large declines in the spring, consumer prices partially rebounded over the rest of last year. However, for some of the sectors that have been most adversely affected by the pandemic, prices remain particularly soft," he told members of the Senate Banking Committee on Tuesday.
The Fed chief says inflation remains below 2% — the central bank's goal. And, though things should improve later this year, "the economic recovery remains uneven and far from complete, and the path ahead is highly uncertain," Powell says.
"It's beginning to look as if last week’s rises in mortgage rates might stick," writes Peter Warden, editor of the website The Mortgage Reports. "They may not have much further to climb. But it’s hard to currently see reasons why they should fall back significantly anytime soon."
Given the risk that rates will rise further, Warden is recommending that his readers lock a rate now, whether they've got a loan that's closing in seven days or 60 days.
#lynchburgva #lynchburgvirginia #lynchburgliving #lynchburgvarealestate #lynchburgvarealtor #lynchburgvahomes #lynchburgvabusiness
Happy New Year 2021
MARKET UPDATE: According to the Lynchburg MLS the prices for a Residential Home in the Lynchburg Area for January 2021 fell from December 2020. The average sales price in the Lynchburg MLS for a Residential Home in Jan 2020 was $203,391. The average days on market is down from 60 days in Jan 2020 to 35 in Jan 2021. A total of 269 Homes sold in JAN 2021. Currently there are 348 homes for sale & 618 PENDING! Which gives us ONLY a ONE months supply, still keeping us in a 💪🏻 SELLERS Market! Give us a call for a complimentary market analysis 🏡 #434-439-4211
Local Real Estate Data For The Year 2019
📣The December numbers are in, so what’s the verdict? The year-end report analyzes trends that indicate 2020 has started off as a seller’s market. This is due to the low inventory and record-breaking prices.
🚨The seller’s market is so hot, it is estimated to take only 3 months to sell your home.
🧐 Conclusion: Investment in real estate in the Lynchburg area is a great idea.
🏡 If you’re looking to take advantage of the seller’s market before the shift then give us a call to talk about the process as it relates to listing your property.
🛑Want to stop watching everyone else make gains on their investment while throwing away your cash on rent? Take advantage of the low interest rates 📉 and give us a call today! 434.439.4211
LYNCHBURG'S FINEST REAL ESTATE - BROKERAGE CHRISTMAS PARTY
Lynchburg's Finest Real Estate Christmas Party! 🎄So proud of all of our Agents’ accomplishments in 2019! Giving their clients a “Higher Road of Service”, when buying or selling a home.
#lynchburgva #lynchburgvirginia #lynchburgvaevents #lynchburgvaeats #lynchburgvavenue #lynchburgvarealestate #lynchburgvarealtors #lynchburgvarealestateagents #lynchburgsfinest #ourlynchburg #ourlynchburgva #ourlynchfamily #lynchburgliving @ Lynchburg, Virginia
📈MARKET UPDATE: NOV. 2019
According to the Lynchburg MLS the prices for a Residential Property in the Lynchburg Area for November 2019 still held strong. The average sales price in the Lynchburg MLS for a Residential Home in November 2019 was $207,847. The average days on market is DOWN from 66 days in NOV 2018 to only 62 in NOV 2019. A total of 221 Homes sold in November 2019. Currently there are 934 homes for sale. Which gives us approximately 4 months of supply, keeping us in a very balanced market! Give us a call for a complimentary market analysis 🏡 | 434-439-4211
#lynchburgva #lynchburgvarealestate #lynchburgvahomes #ourlynchburgva #lynchburgvahouses #lynchburgvarealtor #lovelynchburgva #discoverlynchburgva #gofinest #lynchburgvamarketupdate #indiebrokerage #lynchburgva #downtownlynchburg @ Lynchburg, Virginia
December Local Events & Happenings in the Lynchburg Area
December 1st - 31st
ILLUMINIGHTS
Explore park’s Winter walk of lights
Explore Park
Milepost 115 Blue Ridge Parkway, Roanoke
December 6th, 7th, 13th & 14th
SANTA CLAUS & THE LAST CHRISTMAS
at The Ploughcroft Tea Room
Show times at 7:30pm
Cost $20.00
Dinner Served One Hour Prior to Performance
Call 434-832-7467 for Reservations
1215 Commerce Street, Lynchburg
December 7th, 14th & 21st
Mistletoe Market
at the Lynchburg Community Market
1219 Main Street, Lynchburg
7:00am - 3:00pm
12/7 & 12/14 Horse drawn carriage rides and photos with Santa 10:00am - 2:00pm
December 7th
Photos with Santa and the Grinch
Harley-Davidson of Lynchburg
20452 Timberlake Road, Lynchburg
11:00am - 2:00pm
December 7th
Bedford Christmas in Centertown
and Lighting of the Tree
108 E Main Street, Bedford
3:00pm - 6:00pm
December 8th
Lynchburg Christmas Parade
Downtown Lynchburg
4:00pm
December 14th
Saturday with Santa
Forest Public Library
10:30 - 11:30am
15583 Forest Road, Forest
December 14th & 15th
The Nutcracker
Academy Center of the Arts
600 Main Street, Lynchburg
12/14 @ 2:00pm & 7:00pm
12/15 @ 4:00pm
December 18th
Lynchburg Tacky Lights Tour
MILLER CENTER - COST $5.00
5:30 - 8:30pm
301 Grove Street, Lynchburg
Sign up for 5:30pm, 6:15pm, 7:00pm or 7:45pm
DECEMBER 21st
The barter Players’ frosty
joy & lynch christian warehouse theatre
519 Commerce Street, Lynchburg
Show Times @ 10:00am & 2:00pm
Lynchburg's Best Restaurants for THANKSGIVING
Whether you are trying to get out of cooking for your family this Thanksgiving or simply keep this in mind just incase your Turkey doesn’t thaw out in time.
THE VIRGINIAN HOTEL
712 Church Street, Lynchburg
https://www.lynchburgvirginia.org/event/thanksgiving-brunch-at-the-virginian-hotel/
THE GREAT ROOM, Kirkley Hotel
2900 Candlers Mountain Rd, Lynchburg
https://www.facebook.com/events/2501602500061859/
CRACKER BARREL
3820 Ward Rd, Lynchburg
This Weeks Local Events in Lynchburg 11/24 - 11/30
November 28
Lynchburg Turkey Trot for HumanKind - 5K Run & Walk
2111 Memorial Ave, Lynchburg
8 – 10 a.m.
November 30
The Very Hungry Caterpillar Christmas Show ft. Dream Snow
Academy Center of the Arts
524 Main Street, Lynchburg
10 a.m. & 2 p.m.
November 30
Downtown Lynchburg Tree Lighting
Craddock Terry Hotel
7 p.m.
October 2019 Market Update
📈 According to the Lynchburg MLS the prices for a Residential Home in the Lynchburg Area for October 2019 still held strong!
The average sales price in the Lynchburg MLS for a Residential Home in October 2019 was $204,572. The average days on market is DOWN from 61 days in Oct 2018 to only 33 in Oct 2019. A total of 303 Homes sold in October 2019. Currently there are 1,048 homes for sale. Which gives us only 3.5 months of supply, still keeping us in a SELLERS Market!
Give us a call for a complimentary market analysis 🏡 434-439-4211
#lynchburgva #lynchburgvarealestate #lynchburgvahomes #ourlynchburgva #lynchburgvahouses #lynchburgvarealtor #lovelynchburgva #discoverlynchburgva #gofinest #lynchburgvamarketupdate #indiebrokerage #lynchburgva #downtownlynchburg
Finally Feeling Like Autumn
After a seemingly never-ending summer; the 90s have gone and pleasant afternoons in the 70s are here! Overnight lows are finally much cooler, in the 40s. 🍂 Happy FALL Y’all 🍂 Enjoy a weekend of picking the perfect pumpkin, with the kids and having fun turning it into a jack-o-lantern 🎃
#ourlynchburgva #lynchburgva #lynchburgvarealestate #indiebrokerage #lynchburgvarealtor #fall #gofinest #lynchburgsfinest #lynchburgsfinestrealestate
September 2019 Market Update
📈MARKET UPDATE: Average Sales Prices for SEPTEMBER 2019 are UP compared to September 2018. The average sales price in the Lynchburg MLS for a Residential Home in September 2019 was $213,382. Compared to Sept 2018 they were $199,303. The average days on market is DOWN from 59 days in Sept 2018 to 55 in Sept 2019. A total of 276 Homes sold in September 2019. Currently there are only 1,030 homes for sale. Which only gives us 3.7 months of supply, keeping us still in a SELLERS Market! Give us a call for a complimentary market analysis 🏡 | 434-439-4211 #lynchburgva #lynchburgvarealestate #lynchburgvahomes #ourlynchburgva #lynchburgvahouses #lynchburgvarealtor #lovelynchburgva #discoverlynchburgva #gofinest #lynchburgvamarketupdate #indiebrokerage #lynchburg
August 2019 Market Update
📈MARKET UPDATE: Average Sales Prices for AUGUST 2019 are UP compared to August 2018. The average sales price in the Lynchburg MLS for a Residential Home in August 2019 was $221,601. Compared to Aug 2018 they were $210,914. The average days on market is DOWN from 59 days in Aug 2018 to 49 in Aug 2019. A total of 351 Homes sold in August 2019. Give us a call for a complimentary market analysis 🏡 | 434-439-4211 #lynchburgva #lynchburgvarealestate #lynchburgvahomes #ourlynchburgva #lynchburgvahouses #lynchburgvarealtor #lovelynchburgva #discoverlynchburgva #gofinest #lynchburgvamarketupdate #indiebrokerage #lynchburg
Housing Market Data For First Half Of 2019
📉MARKET UPDATE 2019:
This year is now more than halfway over and we are excited to release our 2019 Lynchburg Mid-Year Market Report. Understanding what’s going on in the market allows us to equip our clients & agents to make confident, informed decisions. It also gives us an idea of what the future holds. Overall, total sales in the Lynchburg area real estate market increased, while prices grew slightly, inventory levels fell. #midyearreport#midyearreview2019 #realestate #marketstats #marketanalysis #lynchburgva #lynchburgvarealestate #lynchburgsfinest #indiebrokerage#gofinest #realestateadvice
July 2019 Market Update
📉MARKET UPDATE: Average Sales Prices for JULY 2019 are down compared to July 2018. The average sales price in the Lynchburg MLS for a Residential Home in July 2019 was $196,118. Compared to July 2018 they were $211,996. The average days on market is just barely down from 50 days in July 2018 to 49 in July 2019. A total of 307 Homes sold in July 2019. Give us a call for a complimentary market analysis | 434-439-4211 |#marketupdate #marketupdate #realestate#principalbroker #realtor #forsale #sold #sellers#sellersmarket #lynchburgva #mlsstats#daysonmarket #marketstats #gofinest#lynchburgvarealestate #indiebrokerage
March 2019 Market Update
MARKET UPDATE: Average Sales Price is UP! The average sales price in the Lynchburg MLS for a Single-Family Home in March 2019 was $206,670. Compared to March 2018 it was only $195,109. In addition the average days on market is down from 94 days in March 2018 to 85 in March 2019. A total of 229 Homes sold in March 2019. Currently there is less than a 4 month supply of inventory which means it’s a sellers market and a great time to SELL! Give us a call for a complimentary market analysis | 434.439.4211 | #marketupdate #marketupdate #realestate #principalbroker #realtor #forsale #sold #sellers #sellersmarket #lynchburgva #mlsstats #daysonmarket #marketstats #gofinest
February 2019 - Homes Are Selling At Higher Prices!
MARKET UPDATE: Average Sales Price is UP! The average sales price in the Lynchburg MLS for a Single-Family Home in February 2019 was $195,795 with a total of 184 Single-Family Homes SOLD! Compared to January 2019 it was $191,589 and a total of only 140 Single-Family Homes Sold. Thinking about buying or selling? Give us a call & let us Guide you home | 434-439-4211" #marketupdate #mondaymarketupdate #realestate #principalbroker #realtor #forsale #sold #sellers #sellersmarket #lynchburgva #mlsstats #daysonmarket #marketstats #gofinest #ahigherroadofservice
January 2019 Market Update
MARKET UPDATE: Average Sales Price is UP! The average sales price in the Lynchburg MLS for a Single-Family Home in January 2019 was $191,589. Compared to January 2018 it was only $173,605. This translates to a 9.4% year-over-year increase. In addition the average days on market is down from 87 days in Jan 2018 to 81 in Jan 2019. Give us a call for a complimentary market analysis | 434-439-4211
#marketupdate #marketupdate #realestate#principalbroker #realtor #forsale #sold#sellers
#sellersmarket #lynchburgva#mlsstats #daysonmarket #marketstats#gofinest
Ready For The Next Netflix Series? Kick Your Home Into Perfection
Tidying up with Marie Kondo is the Netflix series we never knew we needed. Has it inspired you to tidy up around your home?
#mariekondo #netflix#indiebrokerage #boutiquebrokerage#gofinest #ourlynchburg #tidyingup #tidyingupwithmariekondo
In Tidying Up With Marie Kondo, viewers get to watch the famed Japanese organizing expert visit various family homes to help them declutter. She implores them to ask difficult questions like, "Should I throw out all my books?" and, "Does this sweatshirt spark joy?" Read More
Mortgage Rate Drop
⬇️ MORTGAGE RATES FALL to 9 Month LOWS ⬇️ According to the latest data released by Freddie Mac, the 30-year fixed rate average tumbled to 4.45 %. Many are seizing this opportunity to fetch lower rates on loans, locking interest while they are still relatively low. Are you a buyer in the market that is on the fence? Now is the time to meet with one of our guides to begin your house hunt.
Give us a call today 434-439-4211
#mortgagerates #mortgageratesdrop #realestate #realestatebroker#indiebrokerage #buyers #ourlynchburg #realestateexpert#boutiquebrokerage #lynchburgva
THE COST OF WAITING TO BUY
📈⬆️ Do these numbers shock you as much as they did us? If you are thinking about purchasing 2 0 1 9 is your year! Give us a call today and we will connect you with one of our Finest Guides 434.439.4211.#thecostofwaiting #marketstats #interestrates#homevalues #realestate #realtor #buyers#buyersagent (monthly payment number does not include taxes & insurance)
