The Richmond Times-Dispatch published an editorial by Richmond Association of Realtors CEO Laura Lafayette this Sunday. It’s a great read, and a reminder to take a reality check from all the doom and gloom on the news.
[T]o take advantage of this environment, buyers need to set aside the macro and focus on the micro. In other words, the national unemployment rate, the number of foreclosures in the U.S. and tighter underwriting requirements might all be interesting, but they’re not particularly relevant. For potential home buyers what really matters is their own employment status, their personal financial state, and the current conditions in the Central Virginia housing market.