But the markets that are identified by Wells Fargo as being “Distressed” – as opposed to “Soft” (not that bad) and “Severely Distressed” (really bad) – are closer to home than I would like …
Alexandria (City)
Arlington County
Clarke County
Fairfax County
Fairfax (City)
Falls Church (City)
Fauquier County
Fredericksburg (City)
Loudoun County
Manassas (City)
Manassas Park (City)
Prince William County
Spotsylvania County
Stafford County
Warren County
Note that none of the Central Virginia markets are broadly identified as being distressed or declining.
I heard a remark this week that Prince William County had been described as Virginia’s Miami – and not because of the comparable weather patterns.
This news reinforces my opinion that if you are a buyer who is well-qualified and planning to be in the area for at least several years, now could be the best time to buy. If you’re a seller, price your home aggressively and do not do anything to discourage showings of your house.
Moving forward ….
Interested in Learning More?
Jim Duncan has been helping buyers and sellers in Charlottesville’s neighborhoods for 25 years. Get local insight born of experience.
Dig Deeper
Always Read Covenants and Restrictions
You never know what you're going to find when you dig into Covenants and Restrictions. "1. No shop, store, trailer, temporary living structure, factory, hospital, asylum, institution, tourist home or business house of any kind, and no apartment house shall be erected or maintained on…
Revisiting the “0 to 5 Buyer is Gone” Post – 15 years later
Revisiting the “0-5 Buyer Is Gone” Theory We’re in a different market now. Some of the people who bought between 2021 and 2024 are trying to sell — and the ones who bought new construction, now competing against new construction, are having a hard time.…
A Charlottesville e-bike Success Story
I have an e-bike. I love my e-bike. I ride it to meetings all over the City of Charlottesville instead of driving my car. e-bikes are great. A friend got an e-bike. He loves his e-bike. He has a different perspective, and I asked him…
Flipping the Switch, Part 3: ADUs, Zoning, and the Practical Guide
Flipping the Switch, Part 3: ADUs, Zoning, and the Practical Guide Part 1 covered the data. Part 2 covered the design. This week: the regulatory landscape, the ADU reality check, and the practical checklist. The ADU Conversation Has Changed When I wrote about this in…