Let's open the door to homeownership together.

Why you should buy a home in the Fredericksburg Area right now!

I know that sounds a little pushy, which is not my intent, but after reading a short article in Bill Freehling’s Fredericksburg Business Insider I felt I needed to provide some impetus. The reason I say this is because the Fredericksburg area median home price reached an 8 year low in January 2011.

That means prices are now at a 2003 level. Will they go down more? Possibly, as many analysts are predicting large foreclosure inventories will hit markets nationwide this year. Still, buying a home at a price several years below the peak, which was in 2006, is not a bad deal.

Does this mean everyone who bought a home in 2003 is at their original price? No. Many of those folks are still underwater, so you may have to buy a short sale to get the best value. The real question is will my rent be more than my mortgage? That question hasn’t been a yes in years.

It is now. According to the Trulia index it is cheaper to buy than rent in 36 out of 50 markets. While Fredericksburg isn’t specifically listed, both DC and Virginia Beach are flagged as “buy” areas on Trulia’s interactive map.

The decision to buy a home is a personal one. As much as my association would like to say otherwise, not everyone is ready for home ownership. However, if you’re ready to buy then now is a great time!

Posted on February 11, 2011 at 12:50 pm by Ray Nelson

Leave a Comment

  • Facebook Feed

    Ray Nelson Realtor - I'm working on the second edition of my newsletter! If you missed the first one, be sure to sign up for this one!

    9 hours ago

    Ray Nelson Realtor - For this weeks Market Monday, I'm focusing just on homes with a Fredericksburg mailing address. For those that don't know, that includes homes in Spotsylvania and Stafford that are not necessarily in the city. Market snapshot: January 2018 vs January 2017 Median home value: $283,000 (+4.9%) Media ...Read More

    10 hours ago

    Ray Nelson Realtor - Friday fun facts: Homes with a Fredericksburg address have shown 4.9% value growth over the past year compared to the Virginia average of 2.6% value growth. On this day in 1955, Scrabble was released. (Incidentally, I love scrabble.) Dolly Parton and Janis Joplin were both born on January 19th, ...Read More

    3 days ago

    Ray Nelson Realtor - Start the new year off in a new home on a gorgeous piece of land in rural King George. 22 acres in a large lot subdivision is the perfect place for your forever home. Inbox me for details!

    4 weeks ago
  • Reviews


    You couldn't ask for a better Realtor than Ray. He took the time to meet with us and get our requirements, once he had those he pulled the listings and off we went looking at houses. When we had found the perfect place for us he helped us navigate all the... (more)

    5sean mason

    Ray's expertise made finding a home a comfortable experience. He has the knowledge every home buyer is looking to gain. He knows the schools, the history, and can lead buyers to the right property. He did a great job negotiating price and worked hard to... (more)


    Ray Nelson worked tirelessly for 9 months to get me into my home. The short sale process was very long and tedious, as there were several other issues that that needed to be taken care of as well, but he stayed with it and kept me informed of what was going... (more)

    Review Ray Nelson on Zillow.com