August 21, 2009 Update Capitol Premier Realty Market Status
701 Kenmore Avenue #220 Fredericksburg VA 22401
Michael Straley 540-834-6263
Summary: The Dog Days of Summer, mid August. The two big economic drivers continue to set the stage for 2009 - Inventory and Contracts.
Current Pricing is known, future pricing is the next question. Media reports are just turning positive even though locally we have experienced massive contract volumes all year driving mid ranged priced houses to a dramatically lower inventory range. Inventory is down, Contracts are up, and Prices have stayed down. In summary it appears that: • Inventory is at its lowest point in 3 years by far. • Contracts have reached levels not seen since Spring 2006. • Above $500K Properties suffering price compression due to constricted pool of high end buyers. • Foreclosures are fewer and over-subscribed. • Short Sales now make up about 25% of inventory and will continue. • Snapshot (Month To Date Contracts) Stafford = 125, 1 over $500K • Snapshot (Month To Date Contracts) Sposty = 146, 4 over $500K
What are the implications of these changes and what does this mean for current buyers and sellers? Call me for that discussion. 540-834-6263 Michael Straley - graphs and analysis are available for review.
Selling and Purchasing a home are not recommended without a professional analysis of your motivation (need) versus the risk and/or bottomline. We are available to offer you professional services and a long range plan to guarantee you have the facts required to make an informed decision.
Thank you for considering our services. We consider it a privilege and a responsibility!
Rebecca and Michael Straley 701 Kenmore Avenue #220 Fredericksburg VA 22401 540-479-4444 office 540-834-6263 cellular
About Michael and Rebecca Straley:
Rebecca and Michael Straley are professionals on a Mission to Accomplish Your Goals! With decades of real estate experience and the expertise to operate as a business we aim to Exceed Your Expectations!
We have a full time support system which includes a contract administrator and marketing director, as well as, Two fultime Professionals!
We love the industry, the ability to work with many people, to evaluate the market and to make life better for Individuals and Families! We take our relationship seriously and understand this is not just about real estate this is about YOUR LIFE!
Therefore, you are the boss. We are hired to listen, understand and direct! We explain facts that help you make wise decisions. We absorb your priorities and make them our own. We are strong negotiators and protect your positioning. Our follow up thorough and persistent and our Customers and Clients are Happy!
We have many referrals to share with you but expect with our initial presentation you will immediately sense our work ethic and you will become part of the team!
We are thankful for the blessing to work with you and yours and look forward to RESPONDING PROMPTLY to your inquiries. We are available almost 24/7! Give us a call....540-834-6263!
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
