Market expert Laura Sampson says that for the eastern shore of Virginia last month, prices of already listed properties came down even more, as they did in the rest of the nation.

Sellers have become more flexible, she says, and are willing to listen to offers and offer incentives to close the deal.

Sampson says there is a surge of activity in the foreclosure market, where bargain hunters can find some good deals on those properties.

So what does the future hold for this market?

Sampson thinks prices will continue to drop slightly through the spring, but buyers can already find a wealth of good deals.

She says the drop in prices will be a result of the market stabilizing as a result of the surge in prices during the boom years.

And with the drop in prices, Sampson predicts more realistic expectations from both sellers and buyers, and a greater willingness to work together to close a deal.

For more information on this market, contact Laura Sampson at:
EastShoreRealty.org.

Published: May 1, 2008

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