Mid-2017 Market Report; Let Fear not Guide You

Lots of “ifs”

Reading yesterday’s Daily Progress about the most recent Charlottesville area real estate market report, one significant piece of advice and context was missing from the “buy now, sell now” message.

IF the time is right for you, now MIGHT be a great time to buy a home in the Charlottesville area.

IF the time is right for you, now MIGHT be a great time to sell a home in the Charlottesville area.

Interest rates are low. Prices are high. Inventory is low.

If you are confident you’re going to be in a home for at least five to seven years, buying might make sense, for all of the reasons that homeownership makes sense for some (locational stability, feeling of ownership, monthly payment constancy).

If you think you are planning to move in the next 2 to 4 years, (strongly) consider renting.

Thinking about selling your home in Charlottesville?

Now could be a great time to capitalize on the market’s ascendancy … if  you are moving elsewhere, or if you have made wise financial decisions and are able to have the downpayment for what may be a significantly more expensive home when you buy.

Make decisions to buy, sell, or to not buy or sell, based on the best information you have available that is relevant to you and your life, not based on reports by a lobbying group.

Take market reports with a grain of salt, know your micro market, and if you have questions, ask them (I’m available – 434-242-7140)

Image taken from Rob’s recent post (because I couldn’t find it from when I wrote about it in 2006)

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  1. Pingback: Mid-2017 Market Report: Let Fear not Guide You | AppraisalNewsCast

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