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I get asked a lot about what is going to turn the real estate market around in this area. It's
not an easy question to answer.
A friend who was formerly in the mortgage industry told me last week that he believed it was
purely psychological and that when people believed it was a good time to buy homes again, they would. And, that's
certainly a part of the answer. But what moves people to believe that?
I especially fret over Culpeper since the market there has suffered more than in the rest of
the area I cover. And I've got a grand scheme that I think would ultimately make a difference for that community.
First of all, VRE needs to be extended to Culpeper. The hard part of this is already done as
VRE trains use Amtrak tracks which already go right through Culpeper. They even stop there! You would need to expand the
current depot to accomodate larger crowds. And you'd need a whole lot of parking. I suspect the city would have to
purchase some nearby property to make this happen.
Now you build housing in downtown within walking distance of the train station. I'm thinking
condos or townhouses. If you really want to make this attractive long term, I'd make them environmentally friendly and
energy efficient.
Downtown Culpeper is already a terrific place. This would make it a huge draw for those people
who want to live in a place like Culpeper but can't face the commute. I believe it would jump start the housing market,
not just for those units near downtown, but through the community.
Heck, you might even see some spillover into Fauquier County with people driving to Culpeper
to catch the train.
This is a huge project and obviously needs the city and county to pull it off. But I believe
it's doable. And I think even announcing the idea would make people start to think more seriously about a home in
Culpeper.
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