It hasn't quite reached above $250k level in Fredericksburg but it will shortly. We are in the beginning of a housing shorting.
Its still a great time to buy but you have to be prepared to work and you need to use creative and smart strategies to get the best deal for the dollar. One such strategy is taking advantage of the FHA 203k home renovation loan. Its the only loan that allows you buy a home as is and include all the costs of renovations in with your mortgage. Its how I help my clients get the best possible home for the least amount of money. You can see more info at http://www.makeoveragent.com as well as some before/after pictures and great little video showing a renovation on a 74 year old home.
Please let me know if you have any other questions, I'd be happy to help you find a home.
Dwayne and Maryanne Moyers
Now, what is missing from the discussion is the definition of 'come back'
If come back means 2005-2006 level....don't count on it.
If come back means 2-3% appreciation annually....that's doable..depending on the action of the 'too big to fails.'.
If come back means Joe and Janet taxpayer can get a mortgage...well the 'too big to fails' control that.
If come back means resources are available to Joe and Janet to bypass the 'too bigs' it's getting better every day.
What do you mean by 'come back?'
Buyers are competiting for those best looking homes that are priced well. I got three offers on one listing a couple of weeks ago. The market is awesome and I see it getting more equal for buyers and sellers that are realistic and prepared. Give me a call if you need help buying a home. I would love to help you!
Associate Broker, ASP
Envision Real Estate, LC
804-972-9927 Cell Direct
CTI Real Estate
1320 Central Park Blvd., Ste. 210
Fredericksburg, VA 22401
800-460-4CTI ext. 802 Office