Central Virginia real estate market not distressed (yet)

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 ….

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1 Comment

  1. Ben Martin, Va Assn of REALTORS February 29, 2008 at 19:18

    Culpeper County is conspicuous by its absence, unless it’s in the severely distressed category. But I don’t see how Arlington & Alexandria could possibly be lumped together with Prince William. Something’s fishy.

    Reply

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