THE ROANOKE REGION OF VIRGINIA

Foreclosure activity in the Roanoke, Virginia MSA is down from a year ago and home sales and prices are up.

Last month saw foreclosure filings (default notices, scheduled auctions and bank repossessions) on 166 properties in the Roanoke MSA, according to RealtyTrac. That’s a 24.5 percent drop from April 2009. By contrast, foreclosure filings rose 12.9 percent statewide over the same period.

Some call it shopping. We like to think of it as retail therapy.

The Roanoke Region’s retail scene has remained resilient even as other areas held on to their pocketbooks during the recession, mirroring positive economic trends for the region. Consider:

• Per-household retail sales in the Roanoke MSA is $44,920 – 12 percent above the U.S. average of $39,837.
• Per-household retail sales ranked No. 93 of U.S. metro areas in 2009 – up 52 spots from 2008.
• Median household income within an hour’s drive is projected to grow at a faster rate than Virginia and the United States from 2000 to 2014, according to ESRI, a provider of geographic software and data.

The region’s retail options range from upscale boutiques to down-home shops, and popular national-brand stores to the oldest continuously operating farmer’s market in Virginia.

Thriving retail is a reflection of the region’s economic health.

Roanoke jumped 40 places to No. 39 in the annual Forbes.com 200 Best Places for Business and Careers. Forbes uses cost of doing business, projected job growth and educational attainment to determine the areas with the most economic opportunity.

The Roanoke MSA’s unemployment rate dropped from 8.4 percent in February to 8.2 percent in March – the first such drop since November 2009.

Our unemployment rate tracked with the state (7.6 percent) and national (10.2 percent) rates, which also dropped by two-tenths of a percentage point from February to March. The Charlottesville, Virginia Beach and Harrisonburg MSAs show lower unemployment rates than Roanoke, as does the Washington, DC metro area. While Lynchburg and Richmond saw a two-tenths of a percent drop, their rate is higher than Roanoke’s at 8.4 percent. The Blacksburg MSA’s unemployment rate rose from 9.1 percent to 9.5 percent.

The region continues to have a lower unemployment rate than many communities in the Southeast.

Roanoke, Va., April 2010- RIDE Solutions and its partners are exited to launch Bike Month with three events to get your bike ready to ride and your family on the road:

• Bike Ready, Sunday, May 2nd from 1:00 p.m. until 3:00 p.m. At Virginia Western Community College. Bike technicians from Cyclo-Ward Bicycle Repair and Bike Barn will offer safety checks and basic bicycle tune ups, all for free. Sharebike will offer a bicycle recycling service, where bicycles which are beyond repair may be offered as a tax-deductable donation. Sharebike will strip the bikes for usable parts and make sure the rest is recycled. Instructors from Wilderness Adventure will be on hand for riding and safety lessons. Sponsored by RIDE Solutions and Virginia Western Community College.
  

• Mayor’s Bike Ride, Saturday, May at 10:00 a.m. Starting from Roanoke Parks and Recreation, 210 Reserve Ave. Join Mayor David Bowers on a 2.5 mile family ride along the Roanoke River Greenway to Downtown Roanoke, where riders can enjoy the Strawberry Festival and Chili Cook-off. The Blue Ridge Bicycle Club will also offer their annual Bicycle Friendly awards. Sponsored by the Blue Ridge Bicycle Club.
  

It’s the Roanoke, Virginia Region’s first traditional neighborhood development – shops, restaurants and offices within walking distance of newly built green homes blending the ambiance of yesteryear with today’s technology.

Daleville Town Center, under construction in Botetourt County, is now adding medical offices to the mix -- a nearly 20,000-square-foot building for an outpatient imaging center and adjacent physician offices affiliated with HCA Virginia Health System’s Lewis-Gale Medical Center.

The first residents arrive this spring at the 117-acre Daleville Town Center. At its focal point is a town square with retailers, banks, entertainment and more.

Daleville is an example of the Roanoke Region’s many housing choices [http://www.roanoke.org/housingchoices] – from metropolitan living to suburban neighborhoods, lakeside homes and rural farms.

At Daleville, some 300 single-family homes and town homes are planned in neighborhood blocks over the next 10 years. They are being constructed under EarthCraft, a green-building program leading to healthier, more comfortable homes that reduce utility and water consumption and enhance indoor air quality.

This eco-friendly community will feature tree-lined streets, alleyways and
pedestrian-friendly sidewalks. Everything will be within walking distance. Abundant open space, greenways and walking trails will encourage outdoor activity.

Traditional neighborhood development is a form of master planning that melds the architectural heritage of the past with high-tech amenities to create communities reminiscent of early American towns. Daleville Town Center, developed by Fralin & Waldron, offers five architectural styles with historically accurate details.

Plus something historic homes didn’t have – fiber-optic cable.