Manassas is Hot! |
CBS news makes it official. Manassas is the hot place in the region for getting a real estate bargain!
And, no wonder! There are currently 324 properties for sale in Prince William county for less than $100,000. That's incredible when you consider the prices just a few years ago.
And, while the rental market has softened as the economy has softened and the inventory has risen, it hasn't softened so much that you can't make a profit at those prices!
For those who say housing prices have to fall alot further this year, I'd say, not in Prince William! Obviously I'd be an idiot to declare a bottom, especially with so many economic difficulties still ahead. But if this isn't a bottom in Prince William, we're awfully close!
And, in general, I see some firming up of prices in this area. Note I did not say I see any appreciation. And I don't expect any this year. But it seems like some kind of bottom is in the process of being established. Depending on what happens with the rest of the economy it may or may not hold. But for now, there is reason for optimism.
