…and we’re back…

Filed under Miscellaneous by on August 25, 2009 at 10:16 am {no comments}

Well folks it has been a busy past year since I first began my blog.  I am excited to get back down to blog business.  The real estate market has seen many changes good and bad over the last year.  So much has happened.  So lets get down to business. 

First the important stuff; my husband and I were proud to welcome our first baby into the world 5 months ago tomorrow.  Kaleigh Elizabeth was born March 26, 2009.  She is the light of our life and we are so blessed.  So needless to say blogging took a back seat to my new found parenthood.  I could go on and on about her… more to come later.

Okay now onto real estate business…  There are many new rules and laws regarding lending after the collapse of so many lenders and banks.  Some are a step in the right direction and others have created more stringent rules.  But the good news is there are still plenty of good lenders out there and plenty of money available for mortgage loans.  Plus if you are a first time home buyer you still have time to take advantage of an $8000 tax credit.  But you must hurry because it ends soon.  To take advantage your closing must happen by the last day of November 2009.

Another great aspect of this crazy market for buyers are the influx of homes available.  There is such a wide selection right now in Blacksburg, Christiansburg and the NRV.  With all the benefits of buying now is a great time to be getting into the real estate market.  One common misconception is that all sellers are desperate to sell.  This is not the case here in the NRV, for the most part homes are priced right in this market.  That’s not to say there are not deals to be made, sure those are out there but for the most part homes are still selling between 92-98% of asking price. 

And the good news for sellers is the steady rise of home sales and prices over the past few months.  All in all the real estate market is hanging tough and getting better every day.  Its not a scary place for buyers or sellers… come on in the water’s warm!

Well this is the start to a new blogging year for me and I look forward to sharing my thoughts, ideas and concerns related to the real estate market and all things going on in the New River Valley.

Why not Buy now?

Filed under Real Estate Market Watch by on March 31, 2008 at 6:58 am {no comments}

You can’t believe everything you hear.  How many times have you been told that one.  Well this time I have to say please take that into consideration.  If you were to listen to the news right now you are being told of the huge dive that continues in the real estate market and how bad things are and that anyone would be crazy to get into the market now.  Foreclosures are causing homeowners to be homeless all over and evil lenders are the root of all problems.  That is not to say that the mortgage lending industry is not with out its problems and that many homeowners are facing a terrible fate in losing their homes.  However in the large scheme of things there has been some light at the end of the tunnel and mostly it is shining on buyers.  Last month it was reported that home sales were up, great news, but it was unfortunately reported that while the number of sales were up home prices were down.  While this is great news for the real estate industry as a whole, I want to remind you that luckily the New River Valley’s real estate market has held its own in these bumpy times across the nation.  We have seen some changes over the last year, inventory is at a high, and appreciation rates are not sky high as in the past. 

What does all this mean? Well for buyers it means this is a great time to buy.  Why would you not want to buy when the inventory is at an all time high, that means more choices.  Sellers are being forced to be competitive in the over flooded market so prices are lower and sellers are willing to negotiate.  And to beat it all mortgage rates have been dropping.  This is a win win for buyers for sure. 

So the next time you read the paper or listen to the news telling you of the horrible real estate market and all the doom and gloom remember things are not always as they appear and that you can not believe everything you hear!  The New River Valley continues to be a thriving market for both sellers and buyers!  Just a different market than in years past, the sellers had their turn at being on control now it is the buyers turn.  All is fair in love and war!