November 2022 Note from Jim: appraisals and race, the market, a weird thing, questions to ask agents before hiring.
What is the general price difference of houses in Cville in 2022 versus 2019/20? Was it a dramatic increase or were prices relatively stable?
No one knows what will happen with the economy or real estate market. Right now, all we have are questions and speculations. We know that the real estate market is changing, prices are sticky, and people still need shelter.
FUD: Fear, Uncertainty, and Doubt. That’s pretty much what we have in the Charlottesville (and national) real estate market right now.
We’re in a new market. You’re read the news, hopefully beyond the headlines. Rates are higher, inventory is higher but still low, and it’s a good time to reflect on other markets.
Because now might be a great time to consider a HELOC as a just-in-case life comes at you unexpectedly, and in case home values drop … you’d be valued at today’s value.
Everyone has questions about the Charlottesville – Albemarle, Central Virginia, national real estate markets. Here are a few answers.