April was a great month for Hampton Roads Real Estate. End of month stats show a revival in the market, but was it just for the last big push before the tax credit came to a close? Major points to take note of, more homes sold this year in April than 2009 up 19.5%. There was more homes to choose from this year than 2009 inventory was up 7.3% from 09. GREAT buyer news ! PRICES dropped 2.4% from 09. Add it all up YOU should have BOUGHT that home in April ! Okay well maybe not. If the foreclosure market hits Hampton roads like its expected to we can see more homes on the market and lower prices still on the way. The big thing you lost on was the 8k tax credit.
My summary : You want to buy a house ? You have a stable job and a 620 score or better GO FOR IT ! . Right now sellers are willing to help with closing cost and interest rates are still great. No asking your landlord “Can we paint or get a dog “ . Stop lining a landlords pocket and start you’re building your nest egg.