I can only really speak of the Hampton Roads market and Real Estate sales. With foreclosure in Virginia beach , Norfolk, and Chesapeake that I call on many are going undercontract.
I’m asked do you think the market will change and when ? I said many times over 2009 will be stable but I think 2010 will bring a balanced marked and maybe a bit of a upswing for the sellers. Well FANS its happening. Many of the homes I am calling are going under-contract. REO, short sales and Comp sales are getting offers. Now that does not mean sellers are not flexible and offering discounts or closing cost. It does mean that inventory is getting bought up. SUpply and Demand will kick in. I think many of the GREAT looking well kept homes will start to come off the market and what is left will have a flexible seller to adjust price and terms. If your in the market NOW is the time to buy RATES are Low and you could qualify for the 8 k credit.
Im currently working with The Rhyan Finch Team and RE/MAX First. I see agents working 12 hours days its a great Real Estate Market. Just about everything I have is selling. It appears the price ranges under 300 are really picking up . I also think we will have a major upswing before the Fall. Im encouraging people to take advantage of the rebate if they close close to the end of the year they will be closer to the tax season and be able to use there 8k for renovation updates debt reduction . Don’t miss this opportunity.