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Skyline Team Real Estate
917 Susan Ave.
Woodstock, VA 22664
Phone: 540-459-5555
Fax: 540-459-5553
Email: reception@skylineteam.net
Licensed in Virginia and West Virginia

Welcome

Skyline Team Real Estate was established to provide comprehensive full-service real estate services to the Northern Shenandoah Valley.  We are committed to seeing the American Dream of Home Ownership become a reality to all who desire to achieve such a goal. On our site you can search for homes in Woodstock, Toms Brook, Maurertown, Strasburg, Edinburg, Mount Jackson, New Market, Basye  or other areas; checkout our Dream Home Finder for homebuyers and sellers can obtain Free Market Analysis, for more information about  Our Team, call us today to see how our professionals and your Shenandoah Valley REALTORS® can serve you.

In a hurry? Use Quick Search or Map Search to browse an up-to-date database list of all available properties in the area, or use our Dream Home Finder form and let us do the work for you.

If you're planning to sell your home now or in the future, nothing is more important than knowing what the market prices are bearing. We would love to help you with a FREE Market Analysis. We search the MLS for comparable sold listings to help you determine the accurate market value of your home, it's important to know your homes value.

We can also help you find rental properties in Shenandoah, Warren, Frederick, and Page Counties.   For your convenience, here is the application for rentals.

Real Estate News!!!

Latest Realty News from NAR

How much of my income goes towards housing?

With rates rising and home price growth starting to slow, I started to consider how much income is used towards housing in this current economic climate. Mortgage rates are trending upwards to near the highs of 2011 at 4.98 percent, home prices are still rising but at a slower pace, and the median income has been steadily rising although an even more modest pace than house prices. These factors go into how much of a person’s income goes towards housing expenditures and whether housing is a burden for potential homebuyers. This blog will highlight some of the factors and show states and regions where housing is less of a financial burden.

Home Price vs Median Family Incomes

Home prices since 2000 started to outpace incomes but started to turn towards the end of 2007, until home prices plummeted during the Great Recession. In 2008, incomes grew making it favorable for potential homeowners to buy a home. It took home prices about 4 years to recover, beginning in 2012. Around 2014 home price growth began to bloom and once again, prices started to outpace incomes. This pace has continued until recently, as home price growth has slowed making owning a home affordable. As of the second quarter of 2018, family incomes have increased by 52 percent since 2000, while housing prices have increased by 95 percent, or nearly doubled the level in 2000.

Payment to Income and Mortgage Rates

Let us look at the amount of money homeowners had to commit from their income to be able to afford a home. In 2000, when interest rates were 7.90 percent, homeowners had to spend about 19.6 percent of their income to be able to afford a home. In 2006 when rates were around 6.50 percent, homeowners had to spend 22 and up to 24 percent of their income on a home. In the wake of the Great Recession in 2009-2010, mortgage rates started to fall, so the share of income that went to paying a mortgage declined. In 2013 when rates were down to 3.47 percent, the mortgage payment on a median priced home was 11 percent of the median family income, putting less pressure on household incomes. Since that time rates have continued to decline, much to the benefit of potential homeowners. Anything above 30 percent is considered burdensome on households, but below that range would be typically affordable. On a regional level, the West requires a higher portion of your income, which has eclipsed the 35 percent mark. The Midwest, being the most affordable region, requires the least percentage of median family incomes. The Midwest started around 15 percent and, at times, dipped below 10 percent and is currently hovering back around 15 percent.

Payment to Income Ratio

A ratio between 2.5 and 4 is normal and healthy price to income ratio for the housing market. As of August 2018, the median price of existing homes sold was 3.5 percent of the median family income. The Harvard University Joint Center for Housing Studies (JCHS) produced a map showing the US home price to income ratios. The ratios range from under two to over eight. As the map below illustrates, costal markets have much higher ratios, indicating significantly higher home prices compared with incomes. The West Coast region has affordability issues, with several areas posting ratios above eight, including San Diego, Los Angeles and the San Francisco metropolitan area. Small pockets in the Northeast reach above five, mostly clustered around New York City and Boston. The Miami/ South Florida Region also posts low affordability. In comparison, The Midwest region has ratios in the 2-3 range, in line with historical averages.

Jobs Generated vs GDP Growth Rate

The Gross domestic product (GDP) has hovered around 3 percent and has had to withstand the tech bubble, wars and several crises. In 2009, both jobs and GDP took a dive but rebounded the following year. GDP and jobs have grown solidly after the Great Recession. Unemployment has been below 6 percent ever since 2014, which is good for economic progress and potential homebuyers.

Even with rising rates and higher home prices, potential homebuyers have plenty of reason to join the market. Real Estate is still affordable in several states and regions. The job market is strong, GDP is at a healthy level and consumer confidence is high. New homes and existing inventory figures are now improving, although still modestly, but the increase in inventory is helping tame price growth.

August 2018 Housing Affordability Index

At the national level, housing affordability is up from last month but down from a year ago. Mortgage rates rose to 4.78 percent this August, up 14.1 percent compared to 4.19 percent a year ago.

  • Housing affordability declined from a year ago in August moving the index down 8.3 percent from 153.9 to 141.2. The median sales price for a single family home sold in August in the US was $267,300 up 4.9 percent from a year ago.
  • Nationally, mortgage rates were up 59 basis point from one year ago (one percentage point equals 100 basis points).

  • The payment as a percentage of income was down to 17.7 percent this August but up from 16.2 percent from a year ago. Regionally, the West has the highest payment at 24 percent of income. The South had the second highest payment at 17 percent followed by the Northeast at 16.5 percent. The Midwest had the lowest payment as a percentage of income at 14.2 percent.

  • Regionally, the West recorded the biggest increase in home prices at 5.2 percent. The Midwest had an increase of 4.2 percent while the South had a gain of 3.6 percent. The Northeast had the smallest growth in price of 0.1 percent.
  • Regionally, all four regions saw a decline in affordability from a year ago. The Midwest had the biggest drop in affordability of 7.8 percent. The West had a decline of 7.7 percent followed by the South that fell 7.0 percent. The Northeast had the smallest drop of 5.5 percent.
  • On a monthly basis, affordability is up from last month in three of the four regions. The Northeast had biggest gain of 6.2 percent. The South had an incline of 2.4 percent followed by the West with a slight increase of 0.1 percent. The Midwest had the only dip in affordability of 4.8 percent.
  • Despite month-to-month changes, the most affordable region was the Midwest, with an index value of 175.7. The least affordable region remained the West where the index was 101.2. For comparison, the index was 146.7 in the South, and 151.2 in the Northeast.

  • Mortgage applications are currently down. Mortgage rates are still rising along with rents. Foot traffic is up which shows there is interest from future homebuyers. Job creation remains steady and new homes sales are continuing to incline. Home prices are up 4.9 percent outpacing median family incomes that are growing 3.0 percent.
  • What does housing affordability look like in your market? View the full data release here.
  • The Housing Affordability Index calculation assumes a 20 percent down payment and a 25 percent qualifying ratio (principal and interest payment to income). See further details on the methodology and assumptions behind the calculation here.

In Which States Did Properties Sell Most Quickly in August 2018?

In a monthly survey of REALTORS®, respondents reported that properties were typically on the market for 29 days, just a day shorter time compared to one year ago (30 days), according to the  August 2018 REALTORS® Confidence Index Survey.[1] This indicates that in many states, the supply of homes for sale is still inadequate compared to the demand for homes. However, the difference in median days in the current month compared to the same month last year has started to narrow as homebuying demand has eased and the inventory of homes for sale has slightly increased. In January and February of this year, properties were selling about one week less compared to the length of time in the same period one year ago.

During the June–August 2018, properties typically sold within one month in 32 states and in the District of Columbia. Properties sold most quickly in the states of South Dakota (19 days), Washington (20 days), Colorado (21 days), Utah (21 days), Ohio (21 days), Idaho (22 days), Massachusetts (21 days), and Rhode Island (21 days).

 

Based on listing time on Realtor.com[2], properties sold more quickly in 385 out of 500 metro areas (77 percent)—still most of metro areas, but fewer than the number of metro areas that had year-on-year faster selling time in August 2017 (405 metros). Compared to the median days on market one year ago, properties sold more quickly in August 2018 even in the high-price areas of San Jose-Sunnyvale-Sta. Clara, San Francisco-Hayward, and San Diego-Carlsbad.

 

Scroll down the list of metro areas in the interactive table below or hover over the map to view the median number days properties were listed on Realtor.com in July 2018 and one year ago.

 

Fastest-Selling Markets August 2018


About the Realtors® Confidence Index Survey

 

The RCI Survey gathers information from REALTORS® about local market conditions based on their client interactions and the characteristics of their most recent sales for the month. The August 2018 survey was sent to 50,000 REALTORS® who were selected from NAR’s1.3 million members through simple random sampling and to 8,386 respondents in the previous three surveys who provided their email addresses. There were 4,639 respondents to the online survey which ran from September 1-11, 2018. NAR weights the responses by a factor that aligns the sample distribution of responses to the distribution of NAR membership. The REALTORS® Confidence Index is provided by NAR solely for use as a reference. Resale of any part of this data is prohibited without NAR’s prior written consent. For questions on this report or to purchase the RCI series, please email: Data@realtors.org.

 

[1] In generating the median days on market at the state level, NAR uses data for the last three surveys to have close to 30 observations. Small states such as AK, ND, SD, MT, VT, WY, WV, DE, and D.C., may have fewer than 30 observations.

[2] To access Realtor.com data, go to https://www.realtor.com/research/data/.

 

 

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Shenandoah Valley a wonderful place to call home.  

We are home to the natural wonder of Seven Bends of the North Fork of the Shenandoah River, New Market Battlefield State Historical Park, the Virginia Museum of the Civil War, Shenandoah Caverns, American Parade on Celebration, The Yellow Barn, the Shenandoah Valley Music Festival, Bryce Resort with year round activities, Strasburg Museum, Hupps Hill Civil War Park, Woodstock Museum, Edinburg Mill Museum, tour Route 11 traveling through Strasburg, Toms Brook, Maurertown, Woodstock, Edinburg, Mt. Jackson, New Market and more.  Shenandoah County is home to many vineyards such as Cave Ridge Vineyard, North Mountain Vineyard, Shenandoah Vineyard, Wolf Gap Vineyard and more. 

Testimonials

Nathan represented me buying my very first home. When initially looking for properties, he went above and beyond to provide information on homes that suited my needs and met my budget. Ultimately, Nathan found a property that is PERFECT for me that I may not have otherwise known was on the market. He was kind, honest, patient, and knowledgeable throughout the entire process (despite my endless questions). I could not have asked for more from a realtor and will be recommending friends and family. Heather
Robin & Donna, We want to thank you both so very much for all of your hard work in finding our forever home. The two of you were our first contacts in Virginia and no matter what we asked or how many houses we wanted to see, you always went above and beyond our expectations... Always with a smile, advice, and encouragement. We could not have asked for a better home buying experience and we consider you both friends and not just real estate agents. Thank you so much for finding us the perfect home and for helping us begin living our Virginia dream! Tom & Chris
Robin and Nathan, We couldn’t be more pleased with the photos and the descriptions. We looked very hard for something to correct or change and couldn’t find a thing! Outstanding pictures (Which was hard to do when all of the rooms look the same with no furniture in them!) Everything looks great and we now have no doubt we made the right decision in picking our Realtor and her team. Thomas
Nathan was an exceptional agent for me from the start! He had already done his homework (within just a few hours) with a possible listing price before seeing the property. In addition, he took excellent photos of my home; going the extra mile to remove "junk" from the various rooms before taking photos to make my place look even better! He contacted everyone for me (lawyer, pest inspection, contractor, etc) and all I needed to do was relax and let him do the work! To top things off, my home had a contract within 6 days of listing! If you're looking for an agent that will do the work for you and go the extra mile, then Nathan Gochenour is your man! Highly recommended! Shelby
In all our dealings with Realtors over the past ten years, we have never met anyone as helpful and energetic as the Skyline Team. Without hesitation, we would highly recommend their service to anyone who is looking for an experienced Realtor who cares about getting things done and doing them right! Thanks for taking such good care of us! James
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