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Thank you so much for taking the extra effort to make our first home purchase successful. You were there guiding us through all the crucial and important steps! You really listened to what we wanted in our home and you found exactly what we were looking for - at an amazing price! If we ever outgrow this home, we'll definitely be calling you! The Freeman Family
It gives me great pleasure in expressing my sincere appreciation for the rare professionalism displayed by agent, Sylvia Lambert, in negotiating the recent sale of my real estate property. Sylvia was undeterred in her efforts to sell the property. She coordinated each and every aspect with precision. She made sure that every detail was covered. In addition, her pleasant disposition and manner made things easier during difficult times. Jerome T. Cater
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Housing stats and analysis from NAR

July 2016 Existing-Home Sales

  • NAR released a summary of existing-home sales data showing that housing market activity had its first year over year decline since November 2015. July’s existing-home sales slipped to the 5.39 million seasonally adjusted annual rate and existing-home sales are down 1.6 percent from a year ago.
  •  The national median existing-home price for all housing types was $244,100 in July, up 5.3 percent from a year ago.
  • Regionally, all four regions showed growth in prices from a year ago, with the South leading at 6.6 percent. The West had an increase of 6.4 percent, and the Midwest followed with a 5.0 percent increase. The Northeast had the smallest gain of 3.3 percent from July 2015.
  • From June, three regions experienced declines in sales with the West being the only region to have an increase of 2.5 percent. The Northeast had the biggest regional dip in sales with decline of 13.2 percent. The Midwest had a decline of 5.2 percent while the sales in the South declined 1.8 percent.
  • All regions showed a dip in sales from a year ago except the Midwest where sales remained flat. The Northeast had the biggest drop of 5.7 percent followed by the South with a decline of 1.8 percent. The West had the smallest drop of 0.8 percent. The South leads all regions in percentage of national sales at 41.2 percent while the Northeast has the smallest share at 12.2 percent.
  • July’s inventory figures are slightly up 0.9 percent from last month to 2.13 million homes for sale and the level is below historical averages. Inventories are down 5.8 percent from a year ago. It will take 4.7 months to move the current level of inventory at the current sales pace. It takes approximately 36 days for a home to go from listing to a contract in the current housing market, but down from 42 days a year ago.
  • Single family sales decreased 2.0 percent while condos also had a more significant decline of 12.3 percent compared to last month. Single family home sales declined 0.8 percent and condo sales are also down 8.1 percent from a year ago. Both single family and condos had an increase in price with single family up 5.4 percent and condos up 4.1 percent from July 2015.

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Styled, Staged & Sold

Subway Tile Makes a Comeback in Kitchens, Baths

Eubank_subway tile

Photo credit: Karen Eubank, Eubank Staging & Design

By Melissa Dittmann Tracey, REALTOR® Magazine

Glassy subway tile is nothing new, but it’s coming back stronger in kitchens and bathroom remodels in whites or bolder geometric patterns.

“It’s classic, and a classic always remains,” says Karen Eubank, an interior designer with Eubank Staging & Design in Dallas. Richard Hoey, president and CEO of Active Renter, a property management company that renovates single-family homes, says he’s noticing a change from simple, white subway tile to the use of more eccentric geometric shapes, such as in the kitchen where the rest of the space has a minimalist design.

“The juxtaposition between the overall simplicity of the room and the energy of the tiles really makes them stand out as a centerpiece,” Hoey says.

Shelter Island Beach House
San Jose Res 2
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Mortgage Information Disclaimer:

Any mortgage information contained herein is provided for informational purposes only and is not to be relied upon.  Please contact a lender directly to learn more about its mortgage products and eligibility for such products.  Lifelong Realty, Inc. is not a mortgage lender, but is one of the top independent and locally owned real estate firms in RVA.