Monday, August 31, 2009

Chesapeake-Hampton Roads is Doin Great

Yes!!!! You are right...no blogs in weeks....very busy weeks. If you think the Hampton Roads market is dead in the water, I can tell you differently. My listings are selling and
the buyers are active. In my case, I have struggled to take even a day off since June!

Yet, don't think it is just me even though I was the top agent for the company in July. I am not sure how much you are watching the press on the real estate market. Yet, the news is definitely more positive than negative.

Mortgage Rates are still at 5% or so. The $8000 1st time credit has really brought the buyers out. That along with the Good Morning America story a week ago or so about Virginia Beach(ala Hampton Roads) is the top real estate market according to Zillow due to the military!

The only negative seems to be the national jobs report. Yet as you may know, we are seeing very little change in our unemployment...not to say there are issues but we are still in the 5% range...nowhere near the 9%+ national number.

Thus, if you are thinking you must sell or you want to stop renting(or get that bigger home), the clock is ticking. These 5% rates can't stay here forever and the $8000 1st Time Credit is set to expire on Nov. 30th. So act now!

If you have questions about any part of this blog, please give me a call! (757) 580-6546.
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