What’s Ahead for 2012

2012 Old Farmer's Almanacs Still Available

Yes it’s 2012 and time to look at the year ahead.  Also, I’ve still got some 2012 Old Farmer’s Almanacs to pass out.  If you would like an Almanac and see me around Central Virginia, please ask for one (yes, they are free to you!).  I keep getting asked what’s ahead for 2012 in the local real estate market so here goes:

2012 looks to be a better year than 2011 for Central Virginia real estate sales (there will be pockets of increasing value & sales; pockets of declining values & sales; and areas that are flat over last year) and real estate will continue to be a local area.  National, state and even local values/sales numbers don’t matter as much as what happens in the immediate area (block, neighborhood, district, county).  Short Sales & Foreclosures will continue to affect resale home and land prices in 2012 with as many as 1,500,000 Foreclosures predicted for 2012.  Buyers will continue to have a good inventory of well priced homes to chose from with great 30 year fixed interest rates making many future mortgage payments lower than current rent payments.  If you are going to be in the area for a while (4 or more years), 2012 will be a great time to buy a home.

One of the many great homes currently for sale in Central Virginia

I worked with another homeowner who feels trapped with their home value going down & mortgage payment going up (sadly they don’t have a fixed rate mortgage) this weekend.  We’re working with an attorney today to assess the potential for a short sale.  Again, if you or someone you know feels challenged with their current home/mortgage, let’s talk before it’s too late.  There are options (restricting the current mortgage, refinancing, short sale, etc).  If we wait too long, our options become limited and foreclosure/bankruptcy may be the only choices.  I’ve helped families stay in their homes and make a graceful exit.  I am here to help!

Available water front lot w/ great elevated home site.

Sellers may not see the windfall profits from a sale realized in 2007, but 2012 will be a good year for many 2012 sellers with homes selling.  This allows the homeowner to purchase a home better meeting their individual needs and often at a lower/better mortgage payment.  2012 will present a good time for many Central Virginia homeowners to sell.  Each will have individual needs requiring an individual plan to tailored to those needs.

Not just a slogan, it's a way of doing business.

First time home-buyers (those currently renting) will benefit the most from the 2012 real estate market.  Locally rents are rising.  If first time home-buyers plan to stay in the area for four or more years, now is a great time to become a homeowner.  Prices have adjusted down so buyers get more home for the dollar.  The current inventory of homes for sales provides great options in the Central Virginia Market (mountain views in Crozet; mini and large farms in counties surrounding Charlottesville; homes in Spring Creek, Glenmore, Mountain Brook/View, Forest Lakes, Lake Monticello and other neighborhoods; land: from building lots to 100+ acre parcels) give the buyer great choices.  Home mortgage interest rates are at all time lows for 30 year fixed rate mortgages.  FHA and VA have some great loans programs for first time homebuyers and other home buyers.

I'm here to help with your questions and needs.

Have a great 2012!  Please take advantage of my free internet based real esteate search tool to look for your next home or to follow homes for sale/sold in your neighborhood.  If you have questions, let’s talk!  Let’s talk isn’t just an invitation – It’s the first step to reaching your real estate goals.

 

About James Friend Dickerson

Real Estate Consultant As a native of Central Virginia and a full time REALTOR since 1991, James listens to your needs to provide information allowing you to make informed choices. In our constantly changing world, you need a REALTOR who puts you first providing rigidly flexible service. James Dickerson provides a high level of service designed to fit each individual clients needs. Having received many awards from both the local Association of REALTORS and RE/MAX International, James is recognized as an authority on the local real estate market. The highest form of recognition James receives continues to be the many repeat clients who seek out his services time after time plus sending their relatives, friends, co-workers and neighbors to James for their real estate needs. Contact James today for an interview to discuss your real estate needs. James is a licensed real estate sales person in the Commonwealth of Virginia with Charlottesville Solutions. Personal As a Central Virginia native (Born in Charlottesville and raised in Albemarle and Louisa Counties), James' youth was filled with extra-curricular activities and organizations centered around school, church and the Boy Scouts of America. A graduate of Virginia Tech with a degree in Forestry and Wildlife Management, James' non-real estate activities include spending time with family & friends, traveling, stalking deer & spring gobblers, fly fishing, church and Masonic activities. James and his lovely bride Karen live between Zion Crossroads and Gordonsville in the Green Springs area of Louisa County. Their dog Sammy passed away so they'll be adopting another dog soon through www.petfinders.com.
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