There are many great Lynchburg, Roanoke and New River Valley homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (540) 278-1401 for a FREE home buying or selling consultation to answer any of your real estate questions.
Thanks for visiting our blog again! Today we are going to talk to you about the latest happenings in the Roanoke real estate market. In Central and Southwest Virginia, we are seeing a bit of a slowdown. It's becoming more of a buyer's market right now. Absorption rates are a little bit higher than they have been and we are just a bit slower than we were at this point last year.
With the market slowing down, anyone looking to sell needs to find an agent that can expose their house properly in every avenue. They need to know how to use internet marketing as well as how to properly stage and show a house. Most importantly, your agent needs to know how to price your home properly. If they don't, it will just sit there on the market, stagnant.
One thing that our agents are trained to do is an equity evaluation, where we take into account many different criteria that help us determine what the market in your area is truly like and it gives you a great picture of what your home may be worth in the future.
Interest rates are dipping again. They had gotten up to the mid 4%'s but recently we have seen them as low as 3.8%, which is an extremely low rate. If you're on the fence about whether you should move into a new home or not, as long as you have a stable job, now is the time to really get out there and do this. At some point, feds will stop bailing out the economy and the rates will probably go up to normal levels around 6 or 7%.
If you have any questions, please give us a call or send us an email. We will reach out to you and see what we can do to help you!
