Market Insights Blog

Our agents, management, staff and our joint venture partners wish you a very Merry Christmas.  http://www.youtube.com/RoyWheelerRealty

As has been written here over these past couple of months, there are reasons to believe that the 5 year downturn in the real estate market in Charlottesville and the Central Virginia area could be on the road to recovery.  Here are a few I happened upon this morning as I prepared for my radio show http://www.facebook.com/realestatematters or http://www.wina.com/Real-Estate-Matters/7050283. There does seems to be some glimmers of hope that causes one to be encouraged.  Here are just a few I happened upon:

New Home Starts rose again in November,

The dow could be headed for a really great year in 2011 http://finance.yahoo.com/news/Long-way-from-dog-days-2011-apf-1968909630.html?x=0 

In our market area, Listing inventory is at the lowest it has been since February of 2010 with 3230 active listings on the MLS today. December should be the 7th straight month our listing inventory has decreased which should help bring on a more balanced market.  this balance will help lead us toward recovery especially if buyers jump down off the fence and buy homes that are now reasonably priced.  the fact that www.washingtonpost.com wrote interest rates have risen recently from 4.17% to 4.83% should encourage some home purchasers to act before they lose even more buying power.

time will tell, but what we have been predicting does seem to be coming to fruition.

Listen to the podcast from the 12/11 Real Estate Matters Radio show by clicking here http://www.wina.com/play_window.php?audioType=Episode&audioId=5052734

New American Mortgage Loan officer, Tammy Wilt and Realtor and FHA203K consultant David Borchardt explain why home buyers and home owners who want to renovate should consider using this loan product.  One of the best kept secrets is that you can borrow money to do the repairs and renovations needed instead of having to pay cash. 

Here is a podcast of a recent show on http://www.facebook.com/realestatematters with Free Enterprise Forum's Neil Williamson.  It was a very informative program.  click on the link to this 22 minute segment

http://www.wina.com/play_window.php?audioType=Episode&audioId=5040725 Neil shares with those listening about the personnel changes in both the city and the county, the transportation issues that continue to get "road blocked", and the importance of the Mortgage Interest Deduction to the future recovery of the housing market.