Saturday, January 30, 2010

The Calm Before the Storm

You might be asking yourselves before the storm, after here in Richmond we've just been pounded with about 12 inches of snow in a 24 hour Whiteout?

Well, this storm has virtually shut down the city, especially real estate on what otherwise might be a fairly typically busy weekend of showings and Open Houses. But this quiet period with our kids/families, snowmen and snow angels, and our trusty shovels, snow blowers, and various versions of Rocksalt or Icemelt is a welcome prelude to what's sure to be quite a flurry of activity over the next 3 months.

That's when the Tax Credit (i.e. $8000 for 1st time buyers and $6500 for trade-up buyers) is set to expire. Sellers are feverishly preparing their homes for sale and listing them, while buyers are getting their financing in order and preparing their list of preferred homes to go see in-person. As we get closer, into March and April, if last November's any indication (when the Tax Credit was originally set to expire) then homes will sell more quickly, multiple offer situations will arise often, and the range of options (i.e. the inventory) will be reduced quite substantially.

So, real estate customers and Realtors of the Greater Richmond Virginia area, take heed and enjoy this few days of blissful white quiet, for its going to be a busy, exciting, challenging and yet oh so profitable couple of months ahead!

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