There continues to be more and more news out there that things are looking up in the real estate market here in Harrisonburg, Staunton, Virginia, and the country as a whole. A couple weeks ago, we all heard Warren Buffett come out and say:
“If I had a way of buying a couple hundred thousand single-family homes I would load up on them.“
Another one of his comments that was quite positive was:
“If I knew where I was going to want to live the next five or 10 years I would buy a home and I’d finance it with a 30-year mortgage… It’s a terrific deal.”
While that’s all well and good from a very well known and successful investor, more and more sources are starting to chime in with the same advice. Here is last week’s cover of Barron’s magazine:
Corelogic is telling us that there is more right with Virginia’s housing than is wrong with it. Some reasons they cite are that Virginia has one of the lowest rates of delinquency or foreclosure in the country, we have the 11th lowest unemployment rate in the country (6.2%), and our poverty level is low and median income is high.
Whether or not you agree with this, many of the signs seem to be pointing to the fact that now is a great time to buy, and with the current uptick we’re experiencing here in the Shenandoah Valley, it’s a pretty good time to sell too!