The Roanoke Real Estate Market

Even most optimists in Roanoke would tell you right now that the market simply stinks. I see fewer and fewer homes go pending daily, yet the new listings keep flowing into the flooded market. Price reductions abound, there are a lot of great deals out there, it is a great time to buy a home and yet where are all the buyers? I'll tell you where they are: moving into rental properties. I have received more rental inquiries on my current listings than normal. Many from well qualified buyers. I just ask myself everyday, what are they thinking? Afraid to buy because prices may continue to drop? Do they really think that real estate in Roanoke will not continue to appreciate in the long run? Well for those buyers looking for the great deal and waiting for the market to bottom, please be aware that NOBODY and I mean NOBODY can tell you when the market hits the bottom, only when it did.