After following a heated sellers market over the summer due to lack of inventory, the current Fredericksburg real estate market in Fredericksburg has seemed to cool down a bit.
Factors to blame
Government Shutdown- Nothing creates more fear for a new home buyer than getting laid off. Conditions were active prior to the announcement. The postponement to January 2014 seemed to kick this can down the road. Home buyers never seemed to get back in the high buying spirit.
Inventory- Home inventory is still low. Some sellers are taking their homes off the market for the Holidays. This decreases inventory that’s already low.
Holidays- Historically, home buyers slow down during the holidays. They save their money and devote their attention to giving, not receiving.
Take advantage of the current market.
Fredericksburg home buyers looking to grab that dream home need to study their market. When conditions slow, the opportunity to negotiate comes in play. Multiple offer situations get fewer, giving the home buyer back control. The key element is to hire an aggressive Realtor to get the job done. Don’t join the rat race after the Holidays when things heat up. Find your home now. This opportunity won’t last long.
By: Tom Smith
Associate Broker, Century 21 Adventure Redwood