Hampton Roads Housing: The State of the Market

HAPPY NEW YEAR – As I start this blog this year I want to talk about the previous years housing market in the Hampton Roads area.  2011 brought many challenges, foreclosures, short sales, and more of the same.  The housing market did move and started to show some activity.  What we found was there were three types of homes on the market: First there were the foreclosures and short sales (they were selling), second the reasonably priced homes that were in pristine condition (they were selling) and the third category was all others.  This included those sellers who were checking the market (not the best market to do that in), those homeowners that wanted to list their home for what it was worth in 2006 (Hello it is 2012) ! and those that refused to do any maintenance or fix up of their properties.  These homes are not selling and have become the surplus on the market and what in fact happens is that had they priced them right and fixed them up they would have sold.  2012 will bring the same type of market, back in 2006 the dog house would sell without fix up….not true today.  Get a professional realtor to come over and look at your home if you are contemplating selling it …they can give you many ideas to get it sold.   2012 is the year of the sale!  SOLD is the word!!

Tim Meyer

TIM MEYER

Long & Foster Real Estate

5007-E Victory Boulevard, Yorktown, VA 23693
License: 0225 049113

Phone: 757-886-1900
Cell: 757-342-4357
Email: tim.meyer@lnf.com

http://timmeyer.imxagents.com/

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