PAM DENT

Jump into Greener Pastures


434-960-0161
[email protected]
  • HOME
  • About Us
    • About Pam
    • Testimonials
    • Company Info
  • Sellers
    • Seller Basics
    • Ask Before You List
    • Optimize Your Sales Price
    • If Home Appraisal is Low
    • Inspections
      • Pre-Listing Inspection
    • If House Isn’t Selling
    • Tips To Sell a Horse Farm
  • Buyers
    • Buyer Basics
    • Make Buying Less Stressful
    • Customer or Client
    • Home Buying Steps
    • FHA and VA Mortgage Assumptions
    • If Home Appraisal is Low
    • Inspections
    • Predatory Loans
    • Horse Farm Checklist
    • Study Period
  • Area Info
    • Real Estate Property Taxes
    • Schools
    • Boutique Hotels
    • Charlottesville Medical Facilities
    • Restaurants
    • Wineries and Cideries
  • Featured Listings
    • My Featured Listings
    • BayRidge Farm
    • Historic Eldon
    • Historic Lovell c.1840
    • The Meeting Place
    • Woodbound Farm
  • MLS For Sale
    • Search The MLS
    • Farms and Estates
    • Golf Communities
    • Horse Farms
      • Soil For Horse Farms
    • Historic Properties
    • By County
    • By Price
    • By Acreage
  • Market Info
    • Market Reports
  • Blog

VAR Realtor Survey – Spring 2021


Our Virginia Association of Realtors has recently published the results of a survey conducted among their Realtor members. Below are the shared nuances of the Spring 2021 real estate market in Virginia.

Making An Offer

• Nearly every REALTOR® responding to this survey said that buyers are making offers over list price or including an escalation clause in their offer. Nearly 90% said offers over list price were “very common” and another 8.5% said they were “somewhat common.”

• Buyers in this market are facing stiff competition, and almost all are offering some type of concession in an attempt to make a successful offer.

• About 87% of Virginia REALTORS® said it was “very common” or “somewhat common” for buyers to waive the home inspection. Some REALTORS® commented that buyers were having an inspection done for information purposes only, but not making the offer contingent on the home inspection results.

• Nearly 70% of Virginia REALTORS® said that waiving appraisals has become “very common” or “somewhat common.” Many REALTORS® note that buyers are including a provision that they will pay a certain amount over any appraised value. Other REALTORS® have pointed out that this trend in waiving appraisals has put VA buyers at a disadvantage because they cannot opt out of an appraisal.

• The following tradeoffs are also “very common” or “somewhat common” in today’s market: increasing the earnest money deposit (79.2%), waiving the home sale contingency (66.2%), and offering a shorter loan contingency timeline (68.6%).

Buying A Home

• The fast-paced market and historically low inventory has forced buyers to re-evaluate their housing and neighborhood preferences, widen their search, and make tradeoffs on amenities. Nearly nine out of 10 Virginia REALTORS® members (87.7%) said that it is “very common” or “somewhat common” for home buyers to look outside of their preferred neighborhoods as they realize how few homes are available.

• Buyers in this market seem less likely to make tradeoffs on the size or style of the home they are looking for, but they are willing to consider homes that need major upgrades or updating.

• Only 34.2% of Virginia REALTORS® said that it was “very common” or “somewhat common” for buyers to settle for a townhome or condo instead of a single-family home.

• A little more than half (51.0%) said that it was “very common” or “somewhat common” for buyers to compromise on space or number of bedrooms.

• More than three quarters of Virginia REALTORS® (75.2%) said that buyers were willing to consider homes that need major upgrades or updating.

• As the inventory of existing homes shrinks, some buyers have turned their sights to new construction. About 56% of Virginia REALTORS® said that building a new home, rather than purchasing an existing home, had become “very common” or “somewhat common” among buyers.

• Finally, the tight market has discouraged many buyers. In fact, more than 70% of Virginia REALTORS® said that it is “very common” or “somewhat common” for buyers to decide to put off buying a home altogether in this market.

Contact your realtor to learn how these findings apply in your particular area and price range.

 
   

Filed Under: Blog, Home selling tips, Information for buyers, information for home owners, Information for sellers, Market Reports, Real Estate Tagged With: home inspections, information for buyers, information for sellers

My Specialties in Central Virginia

HORSE FARMS

GOLF COMMUNITIES

FOR SALE BY COUNTY

FOR SALE BY PRICE

FOR SALE BY ACREAGE

HISTORIC PROPERTIES

Blog Categories

  • Albemarle Country Homes for Sale (3)
  • Area Features (4)
  • Blog (451)
  • Brightwood VA Equestrian Homes for Sale (2)
  • Brightwood VA Equestrian Properties (2)
  • Central Virginia Historic Homes (9)
  • Central Virginia Homes (21)
  • Central Virginia Horse Farm for Sale (26)
  • Central Virginia Real Estate Properties (7)
  • Charlottesville (70)
  • Charlottesville Golf Communities (7)
  • Charlottesville Golf Community Homes (10)
  • Charlottesville Homes for Sale (50)
  • Charlottesville VA Homes (38)
  • Charlottesville VA Horse Farms for Sale (24)
  • Crozet VA Homes for Sale (1)
  • Earlysville VA Homes (3)
  • Earlysville VA Homes for Sale (4)
  • Equestrian news (43)
  • Equestrian Properties in Port Republic VA (1)
  • Farms and Estates (125)
  • Fluvanna County VA Homes (2)
  • Fluvanna VA Country Property for Sale (1)
  • Foreclosures (12)
  • Free Union VA Country Homes for Sale (4)
  • Free Union VA Homes (3)
  • Free Union VA Homes for Sale (3)
  • Glenmore (7)
  • go green (3)
  • Gordonsville VA Homes for Sale (3)
  • Gordonsville VA Horse Farm for Sale (2)
  • Green building (9)
  • Historic Central VA Home (7)
  • Historic Central Virginia Country Home for Sale (3)
  • Home selling tips (7)
  • Homes for Sale in Central Virginia (7)
  • Homes for Sale in Crozet (1)
  • Homes for Sale in Earlysville (1)
  • Homes for Sale in Keswick (4)
  • Homes for Sale in Lovingston VA (1)
  • Homes for sale in Palmyra VA (2)
  • Homes for Sale in Roseland VA (1)
  • Homes for Sale in Scottsville VA (2)
  • Homes in Charlottesville VA (23)
  • Homes in Free Union VA (3)
  • Homes in Lovingston VA (1)
  • Homes in Palmyra VA (4)
  • Homes in Roseland VA (1)
  • Homes in Somerset VA (3)
  • Horse Farm Properties for Sale in Brightwood VA (2)
  • Horse Farms for Sale in Charlottesville VA (9)
  • Information for buyers (129)
  • information for home owners (20)
  • Information for homeowners (18)
  • Information for sellers (72)
  • Keswick (1)
  • Keswick VA Homes (4)
  • Keswick VA Homes for Sale (5)
  • Listings (38)
  • Local events (24)
  • Louisa VA Homes (2)
  • Louisa VA Homes for Sale (1)
  • Lovingston (1)
  • Lovingston VA Homes (1)
  • Lovingston VA Homes for Sale (1)
  • Luxury Homes in Scottsville VA (2)
  • Market Reports (39)
  • Mortgages (9)
  • Neighborhoods (9)
  • Nelson County Homes (1)
  • New Construction, (1)
  • open houses (3)
  • Palmyra VA homes (5)
  • Palmyra VA homes for sale (3)
  • Pam Dent (41)
  • Pet Friendly Real Estate (3)
  • Places to Go (6)
  • Rapidan VA Horse Farms (1)
  • Real Estate (104)
  • Real Estate Properties for Sale in Charlottesville VA (19)
  • Real Estate Properties for Sale in Crozet VA (1)
  • Real Estate Properties for Sale in Louisa VA (1)
  • Real Estate Properties for Sale in Troy VA (1)
  • Real Estate Properties in Charlottesville VA (11)
  • Real Estate Properties in Keswick VA (3)
  • Roseland VA Homes (1)
  • Roseland VA Homes for Sale (1)
  • Roseland VA Real Estate Properties for Sale (1)
  • Ruckersville VA Homes (2)
  • Ruckersville VA Homes for Sale (3)
  • schools (3)
  • Scottsville VA Homes (2)
  • Scottsville VA Homes for Sale (2)
  • Sold Listings (26)
  • Somerset VA Homes for Sale (4)
  • Staunton VA Historic Home for Sale (1)
  • Troy VA Homes (1)
  • Troy VA Homes for Sale (2)
  • Uncategorized (54)
  • Vacation homes (2)
  • Virginia (59)
  • Virginia Equestrian Property for Sale (23)
  • Virginia Historic Homes (10)
  • Virginia Horse Farms (30)

Areas of Expertise

  • Central Virgina Horse Properties
  • Keswick VA Horse Properties
  • Albermarle VA Horse Properties
  • Charlottesville VA Horse Farms

Social

  • Facebook
  • LinkedIn
  • Twitter
  • YouTube


Contact Pam

Pam Dent
Phone: (434) 960-0161
Email: [email protected]
Gayle Harvey Real Estate Inc.
198 Spotnap Rd, #C-5,
Charlottesville, VA 22911


Real Estate Site Map

Copyright © 2016 All Rights Reserved