Tuesday, February 5, 2008

Every Where is Different

A few questions have arised on how bad the market real is.

Does it seem this blog addresses this too frequently???? Well, this seems where people interests are centered. If you have another issue or topic, like closing costs for purchases or home inspections, provide your questions!!!!!

The following information from Rob Bradham, HRRA Goverment Affairs Director, provides "common sense" look at home ownership in Virginia. Yet if you live in any but the very hard hit areas mentioned in previous postings, homeownership no doubt reaps similar benefit over time.

Here are the facts:

A home in Virginia purchased in 1999 at the median price of $125,000 would have a 83% return if sold today!

A home in Virginia purchased in 2001 at the median price of $144,000 would have a 58% return if sold today!

Median home prices in Virginia went up 5.5% though National average was down 4.2%.

Interested in the facts in your market??? Post your market and your questions!
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