Experience the difference with Jack & Julia McNulty!

March 1, 2008 Update

Now that we have two months behind us sellers and builders remain cautious as buyer traffic improves in February. More consumers are checking out their options and low

interest rates are bringing in buyers and investors!

Some potential buyers who have been sitting on the sidelines are starting to at least research the market and ask a Realtor to show them properties.

While foreclosures may be prevalent in certain areas of the country they are not prevalent

in the Hampton Roads area which includes Hampton, Newport News, Yorktown, and

Williamsburg, VA. Currenty there are very few if any Hud forclosures, No Va foreclosures, and Bank foreclosures move quickly. Foreclosures in Williamsburg receive 4 to 5 offers

in some price ranges and sell quickly.

In January, due to low interest rates, loan refinancing reached a 12 month high, but due to rising interest rates in February the "refi" traffic dropped as rates returned to the same rates of last November. All the more reason for buyers to pay attention to loan rates and act when they are favorable. Do your homework, view properties, but stop hesitating when rates

are at all time lows!