Fredericksburg Virginia Real Estate Sales

By
Real Estate Agent with Fredericksburg Realty, Inc.

The month of March 2010 is just about over.  About mid-April home sales statistics for March will be posted by the Metropolitan Regional Information Systems (MRIS) and the results will be promulgated worldwide via the Internet.  Statistics will be generated and depending on which "spin" you want, it would have been a good or a bad month for real estate sales.

All of us are asked, at least 100 times a month, "How is the real estate market?"  My standard response was always "Unbelievable" (whatever that means).

Sometimes it is better to show statistics that others fail to present to make a point.

On a whim, early this month, I searched the MLS to find out how many homes had sold in my primary market (the city of Fredericksburg, VA; Spotsylvania County, VA; Stafford County, VA; King George County, VA; and Caroline County, VA.

A total of 210 homes were sold in our region during February 2010.  Of that number 43 were labeled as short sales/potential short sales and 79 showed as being foreclosures.  The total of "distressed sales" comes to 122.

Being the mathematical genius that I am (NOT) I figured that distressed sales accounted for 58% of the February sales.

What kind of spin can one put on that?

What should be my answer be when someone asks "How is the real estate market in Fredericksburg Virginia?"

Comments (4)

Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks for sharing information on your area market. Hope you are having an outstanding week.

Mar 28, 2010 11:09 PM
Dawn DeGroff
Fredericksburg Realty, Inc - Fredericksburg, VA

Guess your answer should depend upon who is asking....If you are trying to sell your home it is not good news!  Yikes!  Read this morning that almost 15% of homeowners are behind on their mortgage.

Mar 29, 2010 12:42 AM
Phil Hillerman
Crye-Leike Realtors® - Rogers, AR
Crye-Leike Realtors®

If you are a buyer it is a great time to buy interest rates are LOW, and the housing prices are at 2002 levels.  When will you find a better time to buy.  

Sep 30, 2011 03:48 AM
Heather Frye
Movement Mortgage - Fredericksburg Mortgage - Fredericksburg, VA
Fredericksburg Mortgage - The Frye Team

Although this is an older post, my answer would be you say to buyers - it is STILL a great time to buy because of two reasons:

1.  House prices remain low, interest rates remain low and you can get more BANG for your BUCK

2.  203k loans are out there to quickly and easily fix up those foreclosures needing some work - and they can still capitalize on the market without coming out of pocket for all the work.

 

Thanks for sharing!

 

Heather Frye

Fredericksburg VA Branch Manager, New American Mortgage

Nov 15, 2011 05:48 AM

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