Virginia cities report continuing sellers' markets, but some areas are beginning to slow, say local Realtors in Richmond, Roanoke and Fredericksburg.

Richmond

"Sales have slowed in the Greater Richmond area due to low inventory of quality homes and the resistance of buyers to pay on or above the asking price," says Realtor Michael Corcoran. "However, quality homes continue to sell quickly and at full price. Young buyers are frustrated in the marketplace when homes in their price range do not fit their criteria. Buyers with flexibility in price and criteria can still find a good home. There are many homes that need a little "TLC" and sell for an attractive price."

Roanoke

Advises Realtor Steve Caldwell, "The market's activity has picked back up since the recent presidential election. If you are buying, it is to your advantage to become "pre-approved" by a mortgage professional first so that you know precisely the best price range. Then when you find the right property, you are ready to act on it quickly."

Fredericksburg

"Fredericksburg was founded by colonial barons as a tobacco trading station and the small port of Fredericksburg grew along the banks of the Rappahannock River," share Realtors Jim and Elsa Rake. "Originally laid out in a simple grid, the mainstays of English life were anchored the streets, including a town hall and market square, the Anglican Church, taverns, homes and shops. Today the streets are lined with bricked sidewalks, antique and specialty shops, more than 40 one-of-a-kind restaurants, private homes and gardens. Many have come to visit to appreciate the history, others have visited for the delights of discovering Virginia- it's rolling hills and pleasing rivers and lakes. They encounter the richness of the American experience at every turn, and feel the joy of discovering the Fredericksburg area's unique and entertaining past and present in its galleries, historic attractions, shops, restaurants and golf courses."

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Published: November 23, 2004

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