Fredericksburg Housing Market Improves While Sales Decline
The Fredericksburg real estate market shows signs of
improvement. Home inventory numbers continue to decline, sparking multiple
offers and price increases. This area hasn’t seen a robust buying activity like
this since 2007.
Historic low interest rates are forecasted to remain low
through the year. Home buyers are getting aggressive. In many cases, opting to
build new construction because available homes isn’t there. This new
construction is helping our economy. More jobs are opened and more supplies
sold. Observing this increase in activity in January, which is usually one of
the slowest times of the Fredericksburg home buying seasons, leads me to feel
very optimistic that we are going to have a “Hot” market this spring.
Real estate experts nation-wide still caution that this
increase in activity does not compare to the boom. There are almost eleven
million home owners that owe more than their home is worth. Those owners have
several choices when selling their homes. Stay put and wait for the home sales
prices to increase, pay cash for the difference or list their home with a
hardship as a short sale. These sales are subject to the third party approval.
There are effective techniques you may exercise to find your
Fredericksburg dream home in a low inventory market. Find a very aggressive
Realtor. This agent will stay on top of the market. When a target home hits the market, the agent
should be all over it. I took the words “can’t” and “no” out of my vocabulary.
I will not stop until my clients are in their new home. Get your real estate
agent to put you on their special “hot” search. Check your email often to see
new listings. Time of response is of the essence.
Tom Smith, author, is a licensed real estate agent in the
Fredericksburg, VA. area. He works with Century 21 Adventure Redwood, one of the
largest real estate firms in the area. Tom gained the sought after rare
President’s Award, Centurion Award and the Pinnacle Quality Service this past
year for his home sales. He ranked near the top for the entire Mid-Atlantic
region. He is a retired law enforcement officer and area expert. Find your Fredericksburg Real Estate
today. You deserve the BEST.