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  • psst … I’m a Realtor! Thanks for stopping by my website. I would love to help you find your dream home and community in the Hampton Roads or Williamsburg area or to sell your existing home. This website is authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of Hampton Roads and the historic triangle, and his expertise in the local real estate market. His websites, WilliamsburgsRealEstate.com and Mr Williamsburg.com were created as a resource for folks who are exploring a move to Williamsburg, VA , Hampton Roads VA and the surrounding areas of the Virginia Peninsula. On his website you can search homes for sale , foreclosures, 55+ active adult communities, condos and town homes , land and commercial property for sale in Williamsburg, Yorktown, New Kent, Poquoson, and Gloucester, VA as well as surrounding markets of Carrolton, Chesapeake,Gloucester, Hampton, Isle of Wight, Portsmouth Mathews, Newport News Norfolk, Poquoson, Smithfield, , Suffolk, Surry, Va Beach, Yorktown and York County Virginia You can reach John by email John@MrWilliamsburg.com or phone @ 757-254-813
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    5524 Pennington Place

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    5524 Pennington Place

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How’s the real estate market in Williamsburg VA–Oct 2014

A brief recap of our overall market here in Williamsburg VA.

Well, we have good news to report on the Williamsburg VA real estate market – We have reached a point of stability.

As we move into the winter market we are starting to see things wind down.  We have a 7.2 month supply of homes which is about the same level as last month.  Obviously, we would like to see more sales as would our sellers but we are maintaining our sales levels, not decreasing which is more good news.  Additional positive news is interest rates remain low and prices are stable so the opportunity for buyers to lock in reasonable monthly payments is available.  From the buyer’s perspective, now is a great time to buy. Sellers are netting approximately 98% of list price at present. A number that has increased steadily in the past few years. ( So a home listed for $300k is selling for $294k on average)

The average selling period for home sellers here in Williamsburg is 57 days. We are expecting mortgage interest rates to rise as we move into 2015 .  Right now we have great rates so take advantage while you can because the Fed still thinks it will be a “considerable time” before it begins to raise interest rates. The Zero Interest Rate Policy remains in full force, as it has been since it began at the end of 2008.  This policy will change because we cannot sustain this type of monetary policy as it just continues to add to our National debt.  Plus, we need a market-driven interest rate environment and a more predictable monetary policy to help foster long term economic growth.  This will definitely impact our housing recovery moving forward.

I would welcome the opportunity to discuss your housing situation in more detail so please feel free to contact me via email John@MrWilliamsburg.com or give me a call 757.254.8136

Well, we have good news to report on the Williamsburg VA real estate market – We have reached a point of stability.

If you’re a Williamsburg or Coastal Virginia home seller who has been wondering if it might finally be time to sell, email me at John@MrWilliamsburg.com ,  and I can prepare a complimentary analysis of market value for you – you just may be pleasantly surprised.

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