Released June 2, 2009

Eagles,

I keep saying our industry is changing week by week. Well here is more proof!!!

Check out this article just posted on www.cnbc.com. It talks about how the REITs have raised over 10 BILLION DOLLARS over the past couple WEEKS - WEEKS, not months, not years - WEEKS - and they are moving in into the real estate market. Further example - the investor story I sent out earlier this morning.

http://www.cnbc.com/id/30983054

ALSO,

Just released - Pending home sale SURGE!!! NAR just reported the biggest gain in this index in over 7 years - a 6.7% jump!

Here is more on this story: http://www.cnbc.com/id/31063170

One more item - the Federal Stimulus money the local governments are receiving to help the real estate market - remember this announcement some months ago? Well, this money is now arriving at the local governments, and they too will become buyers in our market. Just this morning, I have a report that Fauquier County just approved the purchase of 14 homes under the program - these purchases are targeted for the Bealeton/Remington market.

Here goes a further reduction in inventory......

So what do you think about our market????

Chuck

 
This post has been included in Virginia Real Estate News

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Chuck Cornwell

Warrenton, VA

More about me…

RE/MAX Regency

Address: 403 Holiday Ct, Warrenton, VA, 20186

Office Phone: (540) 341-1075

Cell Phone: (540) 729-7801

Email Me

For years, I have worked hard to keep the Eagles of RE/MAX Regency updated on our LOCAL real estate market conditions. I watch closely what market conditions are doing in the Washington/Baltimore market area in order to keep our agents as productive as possible. In this blog, I will share many of the same information with you.


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