The Real Estate Browser Volume 8, Issue 12 - Page 10

10 — Say you saw it in The Real Estate Browser of Lynchburg — Volume 8 Number 12 A Brief Market Update by Dan Vollmer, Associate Broker, ReMax 1st Olympic Whenever I’m out a social function, whether with close friends or in a large event, invariably I get asked “so, how’s the market these days?” And truthfully, I don’t mind talking about the real estate market - in fact, I enjoy letting folks know the market is good and its a great time to buy or sell. Since you and me aren’t seated around a dinner table, chatting about our various work and home life experiences, we’ll just have to pretend. When the conversation comes around to real estate, here’s a couple things I’d probably share: 1. Inventory is tight and getting tighter. If you read or follow any form of business news, this probably isn’t news to you. While there are lots of ways to look at this, the bottom line here is this: if you want to buy a house, there aren’t as many to choose from as there were 2 years ago. Or even 18 months ago. That’s not to say there aren’t ANY… but you have to know going into the market that these days, your choices are more limited. 2. Competition is tough, especially in those prime price points and market areas. If you want to move into Forest, and your price range is under $250k, expect there to be plen- ty of other buyers vyin