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Welcome

Welcome to The Patrick Team's premier resource for real estate information & services in the Roanoke, Virginia area.  We specialize in residential homes, homes on acreage, unique properties, horse farms and land, as well as new construction. 

We hope you enjoy your site visit, and explore everything our realty website has to offer, including all Roanoke Valley real estate listings and Resource links to Roanoke area attractions, etc.

  • BUYERS: Looking for a new home? 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 we'll conduct a personalized search for you.
  • SELLERS:  If you're planning to sell your home in the next few months, nothing is more important than knowing a fair asking price, and how to make it "market ready". We would love to help you with a FREE Market Analysis.  We use comparable sold listings, and other tested methods, to help you determine the accurate market value of your home, and we provide comprehensive services to help you get it sold at the best price and terms possible.
  • WANT TO BUILD?:  If you are interested in a new construction home, we are pleased to offer you custom home construction services of Fralin & Waldron, Inc.  They are Roanoke's top builder, in business over 50 years, offering distinctly designed, energy-star & EarthCraft certified homes

Daleville Town Center is a Traditional Neighborhood Development in Botetourt County

The Gables and Wisteria Place at The Orchards in Bonsack/Roanoke County

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Client Testimonials

Listened to what we were looking for and delivered! When we were looking to move to the Roanoke area, a friend recommended Dayna Patrick. Dayna introduced us to the area and the neighborhoods that we might be interested in. As we looked at listings, she asked us to rate what we liked and didn't like about each one. Dayna somehow combined all of our likes and found what turned out to be the perfect place. We are very happy with what we bought. Dayna was very responsive and helpful with all of our inquiries during the closing process, which was the easiest I have experienced so far. Thanks Dayna! Steve S
Exceptional professionalism and personal interest It is with great care that I write this for the awesome service, personal care and professional advice in finding and securing just the right home for myself and my husband. If something was uncertain Dayna made it her concern to find out quickly and make that knowledge know to us. As well with great skill she navigated through our wishes and desires so as not to waste time looking at inappropriate homes. At no time did she try to give a "car sales push" to anything that we looked at. From start to finish she stood by us and still does. I highly recommend this team to anyone buying or selling a home. Debra S.
Dayna was amazing! i relocated from out of town and bought my home sight unseen. Dayna went above and beyond to make sure the experience was seamless. She is very knowledgeable, and took her time to be certain that I clearly understood everything that we needed to do. I would highly recommend Dayna to handle your real estate needs! D.C,
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Dayna's Housing Blog

Following are current and recent articles of interest to home owners, buyers and sellers!

 

When Is It A Good Time To Rent? Definitely NOT NOW!

When Is It A Good Time To Rent? Definitely NOT NOW! | Simplifying The Market

People often ask whether or not now is a good time to buy a home. No one ever asks when a good time to rent is. However, we want to make certain that everyone understands that today is NOT a good time to rent.

The Census Bureau recently released their first quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:

When Is It A Good Time To Rent? Definitely NOT NOW! | Simplifying The Market

A recent Wall Street Journal article reports that rents rose “faster last year than at any time since 2007, a boon for landlords but one that has stoked concerns about housing affordability for renters.”

The article also cited results from a recent Reis Inc. report which revealed that average effective rents rose 4.6% in 2015, the biggest gain since before the recession. Over the past 15 years, rents have risen at a rate of 2.7% annually. 

Where are rents headed?

Jonathan Smoke, Chief Economist at realtor.com recently warned that:

“Low rental vacancies and a lack of new rental construction are pushing up rents, and we expect that they’ll outpace home price appreciation in the year ahead.”  

Bottom Line

NAR’s Chief Economist, Lawrence Yun had this to say in the latest Existing Home Sales Report:

 "With rents steadily rising and average fixed rates well below 4 percent, qualified first-time buyers should be more active participants than what they are right now."

One way to protect yourself from rising rents is to lock in your housing expense by buying a home. If you are ready and willing to buy, let's meet up to determine if you are able to today!

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Renting vs. Buying: What Does it Really Cost? [INFOGRAPHIC]

Renting vs. Buying: What Does it Really Cost? [INFOGRAPHIC] | Simplifying The Market

Some Highlights:

  • The percentage of income needed to afford a median priced home is almost half the percentage of income needed to afford median rent.
  • Buying costs are significantly less than renting costs.
  • The percentage of income needed to afford a median priced home is less than the historic norm.
Rent-Vs-Buy-STM.jpg (image/jpeg, MB)

The Presidential Election and Its Impact on Housing

The Presidential Election and Its Impact on Housing | Simplifying The Market

Every four years people question what effect the Presidential election might have on the national housing market. Let’s take a look at what is currently taking place. The New York Times ran an article earlier this week where they explained:

“A growing body of research shows that during presidential election years — particularly ones like this when there is such uncertainty about the nation’s future — industry becomes almost paralyzed. A look at the last several dozen election cycles shows that during the final year of a presidential term, big corporate investments are routinely postponed, and big deals are put on the back burner.

The research is even more persuasive on the final year of an eight-year presidential term, when a new candidate inevitably will become president.”

We are seeing this take form in the latest economic numbers. However, will this lead to a slowdown in the housing market? Not according to Fannie Mae, Freddie Mac or the National Association of Realtors.

The Impact on Housing Throughout 2016

Let’s look at what has happened and what is projected to happen by these three major entities.

National Association of Realtors

“In spite of deficient supply levels, stock market volatility and the paltry economic growth seen so far this year, the housing market did show resilience and had its best first quarter of existing-sales since 2007.”

Freddie Mac

“Recent data darkened the growth outlook for the first quarter of 2016. However, despite the disappointing economic reports, we still forecast housing to maintain its momentum in 2016.”

Fannie Mae

“Consumers and businesses showed caution at the end of the first quarter…(but) Home sales are expected to pick up heading into the spring season amid the backdrop of declining mortgage rates, rising pending home sales and purchase mortgage applications, and continued easing of lending standards on residential mortgage loans.”

Bottom Line

Even during this election year, the desire to achieve the American Dream is greater than the fear of uncertainty of the next presidency.

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Dayna Patrick  &  Micki Patrick
540-342-9600        540-556-2525
Email The Patrick Team!
RE/MAX All Stars Realty
1225 Roanoke Road
Daleville, VA 24083
Licensed in Virginia

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