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Satisfaction vs Frustration..Richmond,Virginia;For The 2008 Real Estate Buyer
 
Real estate is not a national market it is a regional market, and the Richmond,Virginia regional market is holding its own. Yes we have a higher inventory but over all our prices are up from 263,000 to 277,000 in Nov. and Dec.2007 Our list price to sale price was close to 97% both months. What a great way to end a year when most one of the media kept telling us our markets had tanked. 
Our local experience is not that the market is bottoming out , it is adjusting to a great 7 year run. Yes the market is slower but the benefits to buyers and..... sellers....  (most of them are going to be buyers too) are excellent.
With increased inventory we have more selections, and no price war bidding.The buyer can take their time and get all the inspections they need to feel like they are purchasing a solid well maintained home. They can ask for and get repairs.
The buyer can find that great locations near work and shopping; or they can move closer to family. They can get that much needed larger home with the luxury kitchen and extra bath, or the rec-room they have always wanted for the children or grandchildren. The buyer can get good new construction with nice upgrades.
The ... more

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