Christy, David's 100% right. The townhouse market in Christiansburg has flattened out a bit, so if you are looking at that kind of product you should know that. You mentioned that you were interested in single-family homes, however, and if that's the case I'd give you a resounding "YES"! As a potential buyer, there are sellers out there that are willing to price their homes according to the current market and not to years past, and that means there are great homes to be had at very good prices. Three years is probably a good estimate on David's part - if you're going to be in the home for that long than it's likely you'll see some very noticeable gains on your investment.
The average length of time on the market for a home in Christiansburg last month was 8 months, and as of October 1st there were 286 homes on the market there. That tells us that it's really a good opportunity for buyers to seek the home that really meets their needs, and get it at a price that matches the market. You can find out more about the current market at my blog, referenced below, and if I can get you in touch with a local, recommended lender I'd be glad to do so. All the best in your search!