Hampton Roads Market

[Heather Hughes]

Hi everyone,

I am looking for any insights on the market in Hampton Roads.  I am looking to purchase a sfh but am confused by the market.  I see foreclosures needing renovation going at or above market value.  But I find homes that have been sitting on the mls post 90 days that have been reduced in price to below market and are not selling.  Having lost nearly $100k in equity for a house in NJ during the last housing correction, I am trying to find a deal, but can't get a good read on this market.  Hearing rumblings of a correction in 2020, I am concerned about buying now, but my agent says this area is pretty immune to large price drops.  Thanks for any insight or advice.