In Virginia we are seeing large groups as well as "deep pocket" individuals who have the right connections that are purchasing these homes. It's very hard for a first time buyer or even certain cash buyers to get the homes before someone else gets them. I think it's the case of not what you know but who you know here. They are selling and it's making a difference on values by the work being done to these detressed homes. It's helping the resale market in the values. Buyers do see the value in a home that's been totally redone and they will pay more for it than another where the condition is not there.
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