Cindy's Blog

We hear so much in the media (particularly national media) about how terrible the market is, and we all (those of us in the real estate business included) need to remember that those national statistics don't always apply on a local level. Don' get me wrong, our market is definitely in a really slow place, but to some degree, from where I sit it feels like a self fulfilling prophecy. Folks who would like to move are afraid that if they buy, they won't be able to sell their current home, and the folks who would buy that home feel the same way. Sometimes it really feels like if just a few more people would jump in the pool the "water" would really warm up. At any rate, I received this info via email from Jim Cain at Suntrust Mortgage (804-281-3703) this morning, and it is a pleasant change of pace!  A bit of good news about the market:

Richmond continues to have a relatively healthy housing market in large part due to three factors: Affordability (median price less than $240,000.), Supply (no glut of condos on the market), and Stability of Home Prices (strength and diversity of our economy). Finally, the unemployment rate in the Richmond area is much lower than the nation and job opportunities continue to grow at a faster pace than the rest of the U.S. Please feel free to call should you have any questions. Have a terrific weekend.

10 Lowest Risk Markets

Rank	Metro Area	State
1	Honolulu	HI
2	Salt Lake City	UT
3	Richmond	VA
4	Bethesda-Gaithersburg-Fredrick	MD
5	Phoenix-Mesa-Scottsdale	AZ
6	Washington-Arlington-Alex,	DC-VA-MD-WV
7	Virginia Beach-Norfolk-Newport News	VA
8	Ft Lauderdale-Pompano-Deerfield	FL
9	Orlando-Kissimmee	FL
10	W Palm Beach - Boca Raton	FL

Source: First American CoreLogic

Eco Tip of the Day: Did you know that by installing dimmer switches where you can (dining room, hallways, etc.) you can actually save electricity? Dimming a light by 25% saves an equal percentage of energy!