If you are thinking about buying and want to get the best rate possible, your time may be running out.  The government has been buying back mortgage backed securities. 

As of today, the treasury has bought about $250 billion in mortgage backed securities under their program that is causing these low interest rates. They just started this about three weeks ago. There was a total of $750 billion allocated for this program, meaning that 1/3rd is already used up just a few weeks into it. Once it is gone rates will rise up again. This means that people have another 6 weeks at this pace before the short is over and rates could rise after that.

Sellers in Charlottesville and the Central Virginia area have become more realistic with their price in these last few weeks.  For some, buying now to take advantage of lower prices and what may be the lowest interest rates for the foreseeable future makes a whole lot of sense.