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Old 10-17-2007, 10:03 AM
 
Location: Williamsburg
1,194 posts, read 3,968,383 times
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If you watch TV or read anything in the press you would assume that "no one is buying houses anymore" We are still selling houses and people with good credit can still get 100% mortgages at reasonable interest rates some below 6%. There is an excellent article today in our local paper The Virginia Gazette. It concludes that our average home prices are down 10% since 2005 but are still 50 % higher than they were in 2002. Our foreclosure rate is also way below national statistics.

Hampton Roads had the fifth lowest rate of home foreclosures out of the 100 top metropolitan areas in the first half of 2007.

The Hampton Roads Region had one foreclosure for every 787 households. The area with the highest rate was Stockton, California, with one foreclosure for every 27 households.

Just thought I would share this for anyone considering a move to our area !

Here is a link to the article Housing market easing to normal -- VAGazette.com (broken link)
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Old 10-17-2007, 07:12 PM
 
Location: Richmond, VA
1,799 posts, read 6,305,220 times
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The foreclosure rate in Richmond and Hampton Roads seems to be very low. I think Richmond was tied for the lowest rate of foreclosure in the country.... one for every 2300 households or something.
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