Are you going to miss the next shift in real estate? Maybe. Much like the stock market, real estate is up, and real estate is down. In the stock market, there are bull market cycles and bear market cycles. Stocks are going up, or stocks are going down.
There are always segments where an industry takes a hit, hence the Dot.Com bust. During the dot.com bust, energy stocks didn’t take a hit, but dot.com companies were wiped out or lost a great deal of their value. Construction materials didn’t get wiped out with the dot.com companies. The market was segmented. That doesn’t mean that the market doesn’t take broad hits. After 9/11, and in September of 2008, the stock market took a pretty sizable hit market-wide.
In real estate, segments of the country drop, and segments grow. They can do it simultaneously. When the markets collapsed in September 2008, the real estate market took a hit country-wide. Some segments were hit harder than others, but it was a broad real estate market correction. That is pretty unusual in real estate, but it has happened before. The Great Depression comes to mind. It’s rare.
In the stock market, certain segments recover faster than others. The same is true in real estate. The only way to really know if a market is in recovery is to look at the numbers. A qualified real estate agent / broker can help you find out what the market is doing in your community.
Rather than wait for the bounce, or bottom or recovery – ask a real estate professional what they see in your local market. A qualified real estate professional will be able to tell you what the local market trend is and where they believe it is heading. Don’t wait until the market shifts into a different direction before you get involved. Are you going to miss the next shift in real estate? Not if you contact your Cornerstone real estate professional.
Black Friday isn’t just for toys and household goods. Black Friday is also for houses. There are 76 distressed properties available in the Winchester VA real estate market. The Winchester / Frederick County area has 46 short sales and 30 foreclosures.
The average short sale is $181,784, and the average foreclosure lists for $152,010. Short sales range from $74,900 – $440,000. Foreclosures listings range from $49,499 – $349,000. There is something for every buyer.
The local market has seen a 5 property drop in available listings from 478 to 473 since November 10, 2012. There has also been a -1.2% change in the percentage of available distressed properties since the beginning of November.
Don’t let this opportunity pass you by. Distressed properties tend to be listed below market value. It’s a bargain hunter’s dream come true. When you’re ready to pick up a bargain property, give your Cornerstone agent a call.
The Winchester VA real estate market has added 43 new listings from November 11 through November 20, 2012. That’s 9 more new listings since the first 10 days of November. The total number of listings available is 468, down 10 from the beginning of November.
The make-up of the new listings for the middle of November is 7 short sales, 5 foreclosures and 31 fair market properties. Distressed properties make up 17.8% of the new listings. That number is down from the 33% new distressed property added in the first 10 days of November. That’s a good trend indicator for the local market. Fair market listings are starting to become the norm, while distressed properties continue to decline.
It was the night before Thanksgiving, and all through the house, everyone was sleeping, even the mouse.
They were dreaming of turkey, potatoes and dressing, macaroni and cheese and biscuits and blessings.
Their plates would run over, but they would finish each bite in hopes of returning for seconds that night.
They would retreat to the sofa and drift off to sleep, the TV would blare, but they would not make a peep.
Before it was over, they would wake and eat pie, and when it was bedtime, they would let out a sigh.
What a meal they had eaten, and a good time they had, their tummies were full and everyone glad.
For one day in November many thanks were remembered, and they planned to repeat it next month in December.