Hi everyone!!  It's really been interesting over the past few months to read some of the responses I've been getting to my comments on the market here in Hampton Roads.  Some seem to think that the market will continue on a downward spiral for another 50% decrease.  Well, really since last summer, home prices began to level off and deep discounts were becoming a thing of the past. 

This fact is becoming more prevelant everyday.  I update my main site at Hampton Roads Real Estate on a continual basis.  At this page I have seven subdomain pages featuring the seven major cities of our area.  As I was updating the Chesapeake Real Estate page, I noticed something that gave validity to what I've been saying for some time now.  Towards the bottom of the page, I feature a random neighborhood and post the last 5 homes that have sold, along with their "list" price and "sold" price.  If you go there you will see that the facts are there.  Home prices are settling down and for the most part, sellers are pretty much paying the buyer's closing costs.  For sellers, this is a good thing.  Buyers need to give some serious thought about jumping in if they've been waiting. 

Also, stats from our MLS company show that 09 finished in an upswing with fewer listings and more sales than the previous year.  This article can also be found at the main Hampton Roads Real Estate page.  Hope all is well with everyone and please let me know if you need any assistance in selling or purchasing your next home. 

Jeff Nelson
757-749-1616