Analysis of the Central Virginia Housing Market by George Mason University - 2009 Annual and 4th Quarter 2009 AND A Thought for Real Estate Investors

Here it is.  Mixed news. I'm staying "glass is half full," although I gotta tell you I'm concerned about the impact on the market when the first time and replacement home buyer tax credit incentives expire on April 30, 2010.

Couple this with the news about area foreclosures - better than the national average, but rising sharply on a percentage basis - and new home sales- down 7.6% nationally in December - and it's a decidedly mixed picture.

Keep your fingers crossed for a slow and steady climb OUT of the housing slump and not a steep fall back come May 1, 2010.

But investors, be ready.  I think there are going to be great deals to be had throughout 2010, with distressed SELLERS, not distressed PROPERTIES.  But you're going to have to have cash and lots of it, as renovation money becomes tougher to find.  Start lining up your ducks - and your dollars - now, to be ready to move when the right deal comes along.  1031, anyone?