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bottoming out: September of 2009 Virginia Beach Area Real Estate and hitting bottom in Home Pricing!! - 09/15/09 04:39 PM
Well, it's September of '09 and we all have a little bit different idea of where we are as far as hitting bottom in Home Pricing. We know what happens when inventory of Homes for sale go down (which it's doing now--less homes for sale in *S Hampton Roads currently then in 2008 by 3.8%.) AND the gap continues to close between median Sales Prices of Homes in '08 vs '09 (from -12.1% in January of this year to -2.6% in August of '09) AND, Hey, Interest Rates continue to hang around in the 5% range, a little higher but not much. That's good news.
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bottoming out: Va Beach Real Estate Area Market and have we hit bottom yet--August, 2009 Update! - 08/07/09 02:36 PM
Boy, has this Real Estate market in the Virginia Beach Area of Va been "interesting"?! I've written in past months about the Housing market here and when are we going to hit bottom? In March of '09 I said, in effect, I don't know but maybe; in July of '09 I said I don't know but probably.
It's August of '09, and I'm saying now we're closer to hitting bottom then ever before in this cycle. All the statistical indicators continue to show that the days of large inventories of Homes, low pricing (really low), and 5% range mortgage interest rates are going to be short lived. The … (1 comments)
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bottoming out: Va Beach Real Estate Area and have we hit bottom yet in the Housing market?! - 07/06/09 04:44 PM
Back in March of '09 I had written a blog regarding "have we hit bottom yet in the Housing Market?" This of course was our local area that we were referencing. The area includes Virginia Beach, Chesapeake, Norfolk, Portsmouth, Suffolk, Isle of Wight, Hampton, Newport News, York County and all surrounding areas of Va! My answer then was a definite Maybe??!!
"Have we hit Bottom yet in our Housing market?!" On July 6th, 2009 I'm ready to announce a very definite Probably??!!
The problem in determining a "for sure" knowledge that we've already hit bottom in the Housing market is when 3 things happen:
1) Prices of Homes start … (0 comments)
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Jim Willis knows Virginia Beach Area Real Estate
Virginia Beach,
VA
More about me…
Rose and Womble Realty
Address: 1215 Volvo Parkway, Chesapeake, Va, 23320
Office Phone: (757) 523-4900
Cell Phone: (757) 287-6345
Email Me
See all Homes for sale in Virginia Beach, Chesapeake, Norfolk and all surrounding areas of Va. Go to any Hyperlink of www.googlejim.com. My site has details, addresses, and photos of all homes--site is updated 3 times daily! Enjoy!
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