What’s going on with Housing in Richmond Virginia
Hello clients and agents! Here is what we are seeing happen with Housing in Richmond Virginia….The market has change and it is quickly becoming a sellers market with a limited number of homes and a lot of buyers. If you are looking to Sell a home in Richmond Virginia now it the time to do it! There is a limited number of inventory and lots of buyers. It is a busy time for Richmond Real Estate.
The good news if you are looking to buy a home:
- Mortgage rates are behaving and are actually declining a bit.
- The pick up in activity shows that the market is recovering and now is a GREAT time to buy a house.
- 0%, 3% , and 5% down mortgage options are out there and as popular as ever; you don’t need a lot of money to get a mortgage.
- Underwriting rules are loosening a bit for people with past short sales or low credit scores.
- We are helping a lot of buyers com the the closing table 1 Happy, 2 On Time, 3 In a great loan, and 4 at the numbers we told them with no surprises.
The bad news if you are looking to buy a home:
- When looking to buy a home get prepared to act quickly on the piece of Richmond Real Estate you like.
- Be prepared to pay at least listing price and sometimes higher than list for your next piece if Richmond Real Estate.
- Be prepared to complete with multiple offers on Richmond Real Estate in many cases.
Please Read our post on getting TBD formally underwriting approved prior to shopping for homes. This is HUGE and gives you a competitive advantage.