Much like the Property Grunt, I try to apply other markets’ analyses to the Central Virginia market.
Sellers, price your (properties) appropriately and be patient with your brokers. They are undergoing one of the most stressful times in their careers. However, let them know that although you are aware of current market conditions, you are expecting them to put in every effort to sell your (house).
Condo/HOA fees keep rising. Most developments that I have seen have caps that prevent fees from rising more than a certain percentage in a given year – unless X % of owners vote to accept that change. In short, always review the HOA/Condo package for the development’s financials, budget and expected capital expenses.
2004 data likely is very different than 2006 data. I am currently reviewing the “Internet vs. Traditional Buyer” research report conducted by the California Association of Realtors. A cursory look is proving very enlightening. I am becoming more and more convinced that this “Internet” is going to catch on.
This looks to be worth waiting for.
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