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 Eastern Panhandle WV Real Estate Blog 
Tuesday, 06 March 2012
March has begun, and with that comes the beginning of the spring real estate market for Jefferson and Berkeley County. The change in season always seems to signify an uptick in market activity, and for many, that includes thoughts of buying a home in the Eastern Panhandle of West Virginia. As your Jefferson and Berkeley County real estate agents, we are encouraging buyers to take the plunge this year and invest in a home. Market conditions are ideal for buyers right now, and you can begin your home search in time for the transitional summer season.

Part of our job as a Berkeley and Jefferson County real estate team is to keep up with the latest market trends and understand buyer and seller behavior. With that being said, we realize that the reason many home buyers in West Virginia’s Eastern Panhandle have been hesitant to commit to finding a home is because they were waiting for the market to bottom out before beginning their search. The good news is that, according to the most recent Case-Shiller reports, the market doesn’t have much further to fall before we start seeing signs of a housing recovery. That means that if you’re looking to buy a home in Charles Town, Falling Waters, Ranson, or any of the other towns in West Virginia’s Eastern Panhandle, now is the time to do so. Here is a few other current market conditions that prove now is the perfect time to buy:

The economy is getting stronger. More people are finding employment, and the United States economy is beginning to bounce back a little bit. As a result, lenders are slowly but surely becoming more willing to give home buyers mortgage loans. Lending restrictions are still on the tighter side; however the incredibly difficult restrictions from last year are starting to become a bit easier. If you’re looking for a mortgage loan, now would be the time to start submitting applications.

Mortgage rates are at historic lows. You can get 30-year fixed mortgage rates for as low as 4.0% interest, and other options such as FHA are even lower than that. Historically, buying a home has never been more affordable, so you can obtain financing with low interest rates that will allow you to manage a monthly mortgage payment.

Buyer demand is coming back. According to the National Association of REALTORS, the number of pending home sales reached a two year high in January. Excess inventory is finally being wrung out of the market, and more people are looking to buy. This means that once the market starts to recover, you’re going to find homes that are priced higher than they are now. If you act now, before the buyer demand reaches a healthy rate, then you can still find homes at great, affordable prices.

These market conditions don’t lie: now is probably one of the best times that you can begin your Berkeley or Jefferson County home search. As one of the most experienced and knowledgeable real estate teams in the Eastern Panhandle of West Virginia, we monitor the current state of the market on a regular basis in order to best advise our clients on what real estate decisions they should be making. With the spring market just around the corner, we believe that this will be the season for Jefferson or Berkeley County home buyers to begin their search.

If you have any questions about buying a home on the Berkeley or Jefferson County real estate market, don’t hesitate to contact us! We would love to meet with you to answer any questions that you may have. We hope to hear from you soon.

The Kable Team
RE/MAX 1st Realty
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Posted by: The Kable Team AT 01:52 pm   |  Permalink   |  0 Comments  |  Email

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KABLE Team Realty

Tracy Kable, Broker
873 E Washington St, Suite 200
Charles Town, WV 25414-1520
Phone: (304) 725-1918
Email: TheKableTeam@TheKableTeam.com

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