Freezing Residential Growth - Realty Effect?

The recent vote by Prince William County supervisors to "freeze" residential development (by basically ensuring the full 12 months allowed to approve rezonings is fully leveraged) is quite an interesting predicament for real estate buyers and sellers. Aside from the business and real estate effects, I'd assume commuters and citizens are probably fairly comfortable in the short term with these brakes, sitting in traffic winding its way up into the equally controversial Dulles South and Braddock South, Loudoun County "Transition Area". Builders and businesses catering to homeowners certainly are neither impressed nor supportive of this seemingly "last ditch" effort to force Virginia legislature into returning local taxes for local infrastructure.

The short term ramifications for home sellers may in fact be a boon - the home inventory on the market is capped, and prices may well rise. Home buyers will likely find it more difficult to buy into the home and area they desire, but find truly motivated and otherwise rare properties becoming quickly available. In short, the real estate picture for reselling looks pretty good for both consumers and their agents.

Call me at 703-680-4420 or email to ingridmyers@aol.com for more information, and absolutely up to date information on Prince William Real Estate, including Farms, Land, Commercial and Residential investments.