Virginia Real Estate - How To Invest There In 2007

By: Joel Teo

Virginia is strongly associated with mountain ranges, coastal towns and breathtaking scenery, aside from the civil war and rich heritage of American history. The state of Virginia also boasts of a rising real estate market. The fact that Virginia has one of the highest real estate appreciation rates is reason enough for people to invest in Virginia real estate.

In 2006, the average home in Virginia rose 22 percent in value, while some home assessments shot up by an even bigger percentage. About 6 percent of all houses, town homes and condos appreciated in value by over 40 percent. Some of the beachside properties experienced an overwhelming price rise of 90 percent. In essence, Virginia real estate market has been on an upward trend for the past few years, and there is no reason why we should suspect it to be any different in the year 2007.

The rise in the Virginia real estate market is also owing to its geographical location in the United States. The state of Virginia borders Washington D.C., the capital city of the United States, on its western side. And therefore, it offers something for everyone - from politicians to beach aficionados.

There are several cities to choose from while looking for Virginia real estate investment properties. Good deals may be secured in Richmond, Blacksburg, Fredericksburg, and Alexandria, among others.

Richmond, located on the James River, is renowned for its tobacco and financial industries. The city presents an amalgam of graceful turn of the century architecture and modern edifices. A single-family dwelling in Richmond would cost around $410000. A similar home in Blacksburg may be easy on your pocket, costing around $270000. Homes in Alexandria are very much on the higher side, priced at around $750000.

On the whole, Virginia real estate has experienced significant appreciation in prices over the past few years. Even the most mediocre property investments have resulted in plentiful gains for the investors. It is expected that the trend will continue in the year 2007 and, therefore, there is no better time to invest in Virginia real estate than now.

Copyright © 2007 Joel Teo. All rights reserved. (You may publish this article in its entirety with the following author's information with live links only.)

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