Housing market in Virginia is showing encouraging signs of recovery. A VirginiaBusiness.com article dated July 10, 2013 reports that the Virginia Association of Realtors and the Federal Reserve Bank of Richmond jointly surveyed 1,084 realtors, who generally observed a notably smaller inventory of unsold properties compared to last year. Furthermore, distressed properties have a much lower impact on the market at present (about 18 percent, as compared with 41 percent in 2012), means good prospects for the local real estate industry. On the downside, negative equity remains a significant barrier that hinders home sales. At any rate, economic growth will encourage more people to settle in Virginia, which in turn will lead to a renewed demand for residential properties. When that time comes, trusted mortgage companies in Virginia like Churchill Mortgage Corporation can worry less about families defaulting on their loans and losing their homes to foreclosure.
http://virginia.churchillmortgage.com/industry-news/reliable-mortgage-companies-in-virginia-their-role-amidst-an-improving-housing-market/
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