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!