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for the large, high value properties characteristic of Rappahannock County.
“It’s fair to say that things have leveled off,” said Auchter
Always an
opportunity
Although the market is slowing down, and a slower market means less sales and less commission, area realtors were united in their lack of concern about the perceived bursting of the bubble.
“You want a market that remains strong,” said Auchter, who compared the exaggerated seller’s market of the bubble to “picking vegetables before they are ripe.”
“I think our Rappahannock market is reflective of the overall market. This is just the market correcting itself,” said Snead. According to Snead, as demand drops and homes sit un-bought, prices will drop until they reach a range more comfortable for home buyers and the banks that loan to them .
“The market is correcting itself, and that’s what will bring prices back into line,” said Chandler.
Snead also believes that a market which has swung back to favor the home buyers is not necessarily a bad thing.
“There’s opportunity in a good market, but there is also opportunity in a bad market. Now, there’s going to be some bargains out there,” said Snead.
Email the reporter at mtayloe@timespapers. com
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