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Northern Neck Real Estate News July 2012


Last night I was writing my
newsletter for July. I really thought I had done a good job. I wrote how
the market is unusual, what was going on, that Driftwood Cottage has
been reduced to $315,000, and how I would soon have 2 waterfront lots
available an hour away from Fredericksburg. I had proof read it and
thought it would be nice to say “Happy Birthday, America”. So I left my
newsletter and went to Google in search of an image. When I came back to
the newsletter it was gone so here I am on the 4th of July pounding the
keys on this computer. 
Happy Birthday America. I hope you enjoy the graphic. 




Before I started this newsletter
(this morning) I checked my email and in it was an article from the New
York Times, “After Years of False Hopes, Signs of a Turn in Housing”.
Let me share a few excerpts: 

  1. Announcements of a housing recovery have become a wrongheaded rite of
    summer, but after several years of false hopes, evidence is accumulating
    that the optimists may finally be right.
  2. The housing market is starting to recover. Prices are rising. Sales are
    increasing. Home builders are clearing lots and raising frames.
  3. Like the economic recovery that began three years ago, what happens next
    is likely to prove a little disappointing. The pace of recovery will
    probably be slow, and the prices of many homes will continue to decline.

Prices are rising but many homes will continue to decline. Does anybody know?




Here is what I find here in the Northern Neck. When I talk to other agents
they tell me they don’t have many people looking but there seem to be
more sales than in the past few years. The sellers have lowered their
prices and most will consider offers. The market has always baffled me.
That’s the truth. When things got absolutely crazy people were buying
almost anything. Now many properties are lower than when the maddest
occurred and interest is lower than 4% and agents are waiting for the
phone to ring. Personally I think the market is right for the buyer and
you can see all Northern Neck Properties and search for the one that is right for you.
Driftwood Cottage has been lowered to $315,000.Pride of Ownership radiates from this
virtually maintenance free cottage. The owners
have made many improvements over the past
few years

  • 2005 new windows, storm door, and front door
  • 2006 new roof, fascia, and soffit
  • 2008 new hot water heater and refrigerator
  • 2010 new deck with Trex decking and a new
    artesian well

Large eat in kitchen with wood burning stove. Great
views. Florida room. Pier with water and electricity. This
property is a place where kids, grandkids, and friends
will reflect on whose times at the river
with loved ones. Take a virtual tour.



Well time to bring this to an end and
get out on the water. If you are coming to the Northern Neck this
weekend remember the fireworks show in Reedville Friday night. If it is
clear we should still have a full moon so it would really be nice
watching from your boat.
Remember to keep searching the Northern Neck MLS.
If you see something you like then please call. I’m here to help.
Besides I’d love to tell those other realtors my phone is ringing off
the hook. 




Joe Self Realty, INCKen Smith Agent580 Northumberland Hwy.

Callao, VA 22435





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Disclaimer Ken Smith is a Licensed Realtor Commonwealth of Virginia

Ken Smith 804-366-2325
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