Style Posts: “Don’t Believe Everything You Read!”
When you were little, do you remember your mom telling you “don’t believe everything you read”? The media may not be reporting it, but there are a lot of POSITIVE things happening in the Richmond Region these days. Did you know that we have ADDED jobs over the past 5 years?* Did you know that wages have GROWN over the past 5 years?* Did you know that the number of homes sales in May of 2011 were up 52% from May of last year?†
This is probably news to you, if you get your “news” from the traditional media sources. They are not focused on these positive stories and trends. Despite the “doom & gloom” reporting so prevalent in our news reports today, there are many positive things happening locally. We have seen a definite shift in the residential real estate market. People who have been sitting on the sidelines, waiting for the right opportunity to buy, have been starting to make the move forward with their purchase decision.
Here at LifeStyle Builders & Developers, we have seen a strong trend of people who are interested in building a home from “scratch” and personalizing it to be their own. We have also seen an uptick in corporate relocation buyers coming into the Richmond region. For many of these individuals and families, a completed inventory home is just the thing they are looking for. A couple of years ago, there were almost no corporate relocations happening anywhere. But today, we are seeing more activity in this arena as companies are beginning to transfer their talent around the U.S., and specifically here to Richmond.
New homes sales and prices appear to be stabilizing and are beginning to show positive trends upward. Interest rates are still incredibly low. Data going back to the mid-1900’s show that approximately every 10 years, housing prices double, even with periodic downward price adjustments. Is now the best time to move forward with your new home purchase decision? Only you can decide that, but the indicators are strong for buying now, before the prices and interest rates begin their inevitable climb upward.
LifeStyle Builders & Developers has been building new homes in the Richmond, VA area for over 20 years. Stop by one of our many communities, or our award-winning Design Studio to see what we have to offer. We are currently building new homes for sale in Chesterfield County, Henrico County, Hanover County, New Kent County, Powhatan County and the City of Hopewell, plus we can build on Your Land.
Sources:
* Data from Virginia Gateway Region – Economic Development Organization
† Data from Richmond MLS – Pending Sales
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