April - Thoughts about “The Market”
There is the outside possibility of a slight “up-tick” in the country property market which for all intents and purposes has been DEAD. If you Wall Street is an parrallel and it often is to the luxury real estate action, the feeling of free fall with no end is not as strong as it was in February and March. All signs would point to taking a breadth at least for now but I can’t say that I see a strong rally of farm sales happening this spring but I stand ready to be corrected.
Virginia Country property feels like one of the last things people decide they want to unload when times get tough. It’s special and they know it. A boat or a beach house or any variation of a significant asset might get trimmed off the balance sheet before that refuge of rolling pastures and farmland in Virginia. That said, when it’s gotta go it’s gotta go! Under this logic we’re likely to see several sales with signifacant gap between list price and sale price. Foxport, in Barboursville may be a good example of this.
From the field, I drive around in search of opportunity.
