My Blog

January, 2008: 

Since 1986 I have been a realtor, and I have never seen a better buying market in the Charlottesville area than the present.  Many factors are converging for 2008 that give me optimism that we will have a brisk real estate market.  There is a window between now and full-blown spring for buyers to step up and maximize what they can buy in a discounted housing market while interest rates are low. 

However, I predict that this will not last long because there is pent-up buying demand that will eat into our inflated inventory within the coming months.  When the inventory trims down, sellers will regain their solid footing and negotiation leverage. 

Area Background:

Traditionally, Charlottesville holds value and weathers downturns in the market far better than most markets, due to its beauty, location and cultural opportunities, supported by the solid economic base provided by UVA and a population that is more affluent and well-educated than the norm. 

Charlottesville attracts intelligent entrepreneurs, top rank professors and students, and retirees who choose to live here because this area is beautiful and strategically located within easy range of the Blue Ridge Mountains, the Chesapeake Bay and Atlantic, and several metropolitan areas  (Washington, DC about 2.2 hours and Richmond about 1.2 hours away).  We are blessed with top-ranking medical facilities.  These are some of the reasons prices are higher in Charlottesville than anywhere in Va except for the N. Va. area near Washington.  This explains why we bounce back faster than most areas from downturns in the housing market, translated as blips in the Charlottesville market.

Already I am experiencing a post-holiday rush of buyers and sellers.  I recommend that those considering a purchase give me a call soon so we can benefit from a temporarily discounted market.  And sellers: the time is now to meet and plan preparations to time your listing to hit the market by spring.

Please give me a call to discuss your situation and to schedule whatever time you need to move ahead in this market.  Yates @ 434-996-0888