Top 5 Trends to Affect Charlottesville’s Housing Market in 2011

Not necessarily in order of importance:

1 – Gas Prices

2 – Foreclosures (What if Virginia becomes a judicial foreclosure state)?

3 – Short sales, continuing decline of market value (I think we’re looking at ~ 5% – 7% decline this year)

4 – Realtor Competency

5 – Confidence.

6 – Federal Governments’ interference

7 – Employment rates – at UVA, NGIC, DIA, State Farm, etc. and all of Charlottesville areas’ small businesses.