I can write about all things real estate, but that doesn’t always mean it’s always relevant. So I asked on Twitter, “what’s on your mind regarding real estate?”
“How’s the New River Valley real estate market?” It’s the question everyone seems to want to know, and in particular now that we’re
weeks months into a global pandemic. Now, however, it’s asked with a grimace, as if people have expected the market to have fallen off a cliff. Truthfully? In March, when states started to shut things down and it was becoming clear that the United States had a colossal problem at its doors, I expected the same thing.
What a world we’re living in right now. No one cares about my one little voice, and certainly less so when I’m talking about current events and not real estate, but two voices speak louder. Four voices are even louder than that. And millions are deafening.
Ah, the offer letter when buying a home. Does it work? It depends.
Dusting off the blog machine (again) after a conversation last week with my friend Jim Duncan in Charlottesville. Jim’s blog was one of the first blogs I started to follow when I kicked things off here at NRVLiving.com, and while I’ve fallen off the wagon a time or three, he’s kept on going. In fact, I think he writes a few different sites, somehow.
- Nationally, we’re in the midst of the longest sustained GDP growth in the history of the country. In the midst of that growth, we’re seeing job growth slow, which suggests something is going on.
- Virginia has traditionally weathered recessions better than the rest of the country, in large part because of the federal government’s influence. Even in a recession, the federal government likes to spend money.
- Unemployment in Virginia is 2.9%, compared to 4% nationally
- Lisa explained that while this seems like a good thing, it’s not. We don’t have enough unemployed persons in the state to add jobs, and as you’ll see later we don’t have the housing inventory for people even when they move in from other states, so we’re in a sort of a stall there.
So there are a number of positives going on:
Ah, Zillow. Say the word in a crowded room full of Realtors and you’ll hear boos and hisses, as well as a few things you might not want your grandmother to hear. But the fact is, Zillow is getting some things right, and consumers are using the site. So what are we, as an industry, fighting them for? That’s a post for another day, and one I don’t think I’m ready to write – yet. I don’t hate Zillow. I like the site. Used it yesterday for personal research, in fact. It’s slick, easy to use, and has a ton of information.
Last month I wrote “Ten Things To Know About A Well in the New River Valley”, and just this afternoon received notice that the Virginia Department of Health just last week posted a video entitled What To Know When Buying A Home with a Well and Septic System in Virginia. You can see that video below – even more timely as I had, just minutes before, met with new buyers and we’d talked about buying homes with a well and/or septic system. Thanks, VDH!