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Well here it is the first of August and summer is flying by here in the Northern Neck.
I really wish I could tell you that I understand this real estate market but I can't. Interest rates are below 5%, money is available, and it is a Buyers' Market but properties are still slow to move.
Here is a . That home was on the market for 404 days. It sold for $370,000 and was originally listed for $489,000. | |
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Some August Events |
| 6 First Friday Kilmarnock |
| 7 Farmer's Market Irvington |
| 14 Skipjack Cruise on Claud W Sommers from the Reedville Fisherman's Musuem |
| 21 Heathsville Farmer's Market |
| 21 Movies Under the Moon - Irvington |
| 28 Farmer's Market Kilmarnock | | |
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I think the buyer got a great deal. Houses in this area are in the $600,000 to $800,000 range. Not that people are rushing in to buy them but that is the price the seller is hoping to get. |
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Now here is another one. This one is comparable to the one that sold for $370,000. It has been on the market for almost 9 months. It was originally listed at $470,000. It's now listed for $399,000 and I would think it could be bought for $370,000 or less. I'd love to have a client offer $325,000 and see where it would go.
The point I'm trying to make here is that it is a good time to capitalize off of this market but you can't do it if you don't make an offer. |
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There are sellers out there that will consider a low offer not because they have to sell but because they want to move on. |
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I appreciate you taking the time to read my updates and remember to keep searching the Northern Neck MLS. Something might be there
and you might want to make an offer. |
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Ken
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