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Local Real Estate Market
The Valley's MLS real estate sales continue
to show the consistent growth that has typified the area for years. During
2002, REALTORS handled 4896 residential units which represent a 7% increase
over 2001 (17% over 2000). The average price was $152,400 for 2002 (national
average is $203,200).
# Houses in The Valley
(2000 census)
| Roanoke City |
45,257 |
| Roanoke County |
36,121 |
| Salem |
10,403 |
| Botetourt County |
12,571 |
| Roanoke MSA |
104,352 |
Roanoke was selected as one of the top 20
places in America to retire. This has allowed the consistent growth as today's
market is redesigning the way Roanoke Valley lives. New developments include
patio homes, townhouses which are maintenance free, plush condos, and
single-family carefree communities.
We have affordable housing; the cost of
living is low; we have low taxes and crime rate; and we have major health care
providers. When you add the nation's low interest rate, the combinations have
blessed the Roanoke Valley real estate market.
We have another special feature also.
Neighborhoods such as South Roanoke, Raleigh Court, Grandin Court, and Olde
Southwest City with their older homes have seen a surge in remodeling. The
nostalgia factor is a real plus. Tree lined, sidewalk neighborhoods are in real
demand and the Valley can meet that demand.
Sandy and I are prepared to help you in the
Roanoke Valley. Our market is 40 miles from the east (Bedford) to the west
(West Salem) and 60 miles south (Rocky Mount) to north (Fincastle and Eagle
Rock). We have lake communities at Smith Mountain Lake; residential areas
throughout Roanoke, Salem, and Vinton; rural/country living (even with horses)
in Botetourt, Bedford, and Franklin counties; plus secluded mountain settings
throughout the Valley. Let us know how we can assist you at durantvick@cox.net or
1-540-354-4444 Request our Free Roanoke, Salem and Roanoke County Relocation Package. It's packed full of useful and important information about the Roanoke, Salem and Roanoke County, Virginia area. Don't move here without it! Remember: we'll send it to you for free and without obligation. Just fill out the form and we will send it right out...
Titles >Do You Really Need Title Insurance
When a home is purchased, title insurance is one of the closing cost items on the closing statement. This insurance protects the buyer from defects in the title that are not discovered until after the closing. There are two kinds of title insurance--coverage that protects the lender for the balance of the mortgage if the buyers have a loan, and coverage that protects the buyers' equity in the property.
It is prudent to purchase owners' coverage because most of the title problems that arise after a closing are not from a sloppy title search, but are the result of inaccurate information in the public records. The ownership chain goes back a long way, and fraud or misrepresentation anywhere in the chain could mean big problems. Title insurance will protect you if a wife or husband did not properly sign off on the ownership papers or if the property was sold as part of an estate that was later disputed. Most people do not have to deal with the title insurance company after the closing, but this coverage could save your investment if a problem arises.
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| Q |
What U.S. state is home to the world's richest woman?
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| A |
Alice Walton, daughter of WalMart's founder and heiress to $16.5 billion, lives on a ranch in the state of Texas. |
 See More Real Estate Trivia > |
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