Monthly Real Estate Market Insight

The year ended better than we anticipated, but we still have a long way to go to get to a balanced market. Current predictions are more of the same. The twist is that the people who make the predictions are now adding, “We just do not know with any certainty”. If the economy does not improve, then we may see more erosion in property values. Our area nationally has held up pretty well, but we have some challenges coming up in the downsizing of our military forces overall.

If you are a buyer, it may not get much better than this: Great Inventory, Good Rates, and Good Prices. If you are a seller, you must understand your competition, the absorption rate applicable to your property and your property must be in great condition. There is a “selling zone” for almost all the price ranges, it may not be what you are willing to accept, but it is what you need to do to sell. The Cross Realty Agents can help you understand this. Personally, I am over the snow, bring on some warmer weather! How can we help you in 2011?

Harry L. Cross, III

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Specializing in properties in South Hampton Roads, Virginia.

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