Fredericksburg's Real Estate Voice

Surgery & Prayer

I marvel at people, like my brother Mike, who have the ability to perfectly put things into perspective with words.  I, however, don't possess that ability.  So, I have no really profound way of communicating my feelings here.  So, I am just going to lay it out here.

My son is having another surgery tomorrow and I appreciate your prayers on his behalf.  Please pray for his recovery and for me as I try to encourage him and to help him overcome the fears associated with the surgery.  I don't have great words of wisdom, so pray for me as I simply am there for him.

Jeff Edmisten

Buying a Bank Owned Property - Foreclosures

I have counseled and educated many buyers over the last couple of years regarding the issues surrounding bank owned properties.  Many people in our area think that bank owned/foreclosed properties represent awesome opportunities. 

The truth is that in our market they rarely represent a great buy and the procedures are packed with problems.  I found another blogger that explains a portion of what I have been teaching people for years.  Go visit Teresa Boardman's post and see how she explains it.

Jeff Edmisten
The Edmisten TEAM
Keller Williams Realty
(540) 538-7222
jedmisten@kw.com

Weather Fickle...

Most people I have come in contact with for the last several days have been complaining about the weather.  And why not, right?  I mean, after all it has been 90 degrees, sunny, and clear skies that facilitate a variety of activities that are uncommon for October.  I mean come on, what's not to like?

If I were a wagering guy, I would bet that the vast majority of those complaining about the warm weather and sunny skies, will soon be complaining about the cold and dreary winter. 

I say enjoy the warm weather while it lasts... then you can join me in wishing we were in Florida when the snow, ice and gray skies are upon us.

Jeff Edmisten
The Edmisten TEAM
Keller Williams Realty
(540) 538-7222
jedmisten@kw.com

A Market Snapshot

There is a lot of speculation and frustration in the Fredericksburg area real estate market right now.  If you are a buyer, this is a great market... if you are a seller, it's not so good.

Buyers have an extremely high inventory from which to choose and many of the sellers are willing to negotiate very good deals.  Statistics from home sales in our area that closed within the last 30 days show that the sellers have taken large reductions to sell their home.  In fact, the last 30 days shows an average of 10% drop from list price to sales price.  That's ten (10%) percent!  And the seller are averaging paying a large portion of the buyer's closing costs on top of that reduction.

From a seller standpoint, there is a high inventory and the average time on market for homes that have still yet to sell is almost 5 months.  The average home has already dropped 5% from their original list price and they still haven't sold.

So, how is the market?  That is absolutely a factor of whether you are buying or selling.  Buying?  The market is GREAT.  Selling, the market is... well you can fill in the blank.

Jeff Edmisten
The Edmisten TEAM
Keller Williams Realty
(540) 538-7222

Blogging Hiatus

I apologize that I have been on a bit of a blogging hiatus for the last few weeks.  Life got in the way a bit, but I am back and ready to blog on!

Jeff