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.