Hampton Roads Real Estate Properties VA MLS

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• Many in this field somehow fall into becoming a real estate agent. Aleksandra Peacock, on the other hand, has built a buisness careera round real estate. Every effort made, and every school attended was to prepare her in becoming a well respected, highly versed, and educated real estate professional. Many of my clients have been telling me that they were waiting to buy when the market hits bottom. So when is that going to happen? I feel that the bottom and the turn around will comeat different times for different areas. And the truth is that you will not know the bottom until it is past and prices have started to move up. OK, really, now the time is right to buy. Prices are falling continuesly, and based on my market analysis and patterns observed, they will continue to do so until the end of this year (2009). The current high foreclosure rate and appraiser based fear to over price, has been driving and contuensly bringing lower sales prices. I must also say that, buyers have been in the front seat of price reductions as well, many making purchase offers in the Hampton Roads Virginia real estate market, well below the market value. I could go into the true meaning of VALUE, but to keep it simple and short, it's no different than beauty, IT IS IN THE EYE OF THE BEHOLDER! So, don't look for the bottom in the list price on properties, you may find it in a few properties but not most. Look for the bottom in the SOLD properties. Ask your agent to make up a comperative analysis for a buyers, or to simple look up some of the most recent sales in the neighborhood and the amount it sold for. Trust me, it's on every SOLD listing in the MLS that your agent has access to. My belief is that the Hampton Roads area of Virginia will start to recover sooner for several factors. The Virginia market hit a wall in the summer of 2007 and has been hit hard since then. 2009 will be the year of the foreclosure here. Prices have tanked and will have fallen in many cases by 20% or more from their price of three years ago. I have been wrong about the market here, I expected it to tke a dive along with the rest of the US, but it didn't and it will never be hit badly because of the constant movement in the local real estate market. My belief is that 2009 will see the bottom, because that is when we will see the most foreclosures. However I can't pinpoint the exact bottom and nobody else can either. I do know that buyers are taking advantage of some great prices and motivated sellers.

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