Does it get any better than this?

From Forrest Oden’hal Vice President of PWAR about Prince William Virginia Real Estate:

 

As most of you are aware, I am a glass half-full kind of guy. I am asked daily “How is the real estate market?” I’m passionate about the real estate industry and believe this market offers opportunity that “we” have never witnessed.  Here are some statistics to prove my point:

§         Average Sales Price = $201,925, down 52.5% from 2006 high of $424,893

§         Sub 5% Interest Rate – a 50 year low

§         Unemployment Rate = 3.6-3.8% - Half of the Nation’s average

§         Median salary in PWCounty = $96,800

§         Stimulus package offers an $8,000 first-time homebuyer credit

§         759 Homes sold in Jan 2009 – highest January sales on record

§         Population growth outpacing new home starts. NVa population (2000-07) is up 16% compared to new home starts which are down 58%

§         Sales volume is up and inventory is down (by 50% over a year ago)

 

From an investor standpoint, (return on the dollar, tax savings) the future is bright. The net return per investor property I have sold in the past few months ranged from 8.5%-16%.

 

This is all a perfect storm for buyers: Yesterday pricing, interest rates at a 50 year low, the NVa area income at the top of the nation rating, unemployment rating 50% of national average, a local economy poised to take advantage of the national stimulus package. 

 Does it get any better than this?