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.
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I have been been representing buyers and sellers in Charlottesville, Albemarle, and Central Virginia since 2001. Get local insight born of experience.
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