Bluefield, VA Homes For Sale - Virginia Real Estate | BEX Realty (2024)

FAQs

Is the best time to buy a house in Virginia? ›

The months from March to June are the best time to buy a house in Virginia. This is due to the higher inventory, increased competition among sellers, and potentially lower asking prices.

The average credit score required in Virginia is 712. Down Payment and Closing Cost Requirement: Allocate 20% of the home's sale price towards a down payment, and budget 2% to 5% for closing costs.

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Additionally, Virginia's strong job market, coupled with its rich historical heritage and an abundance of natural beauty, makes it a particularly attractive state for potential homeowners.

Housing in Northern Virginia near Washington, D.C. is especially expensive, with median list prices exceeding $800,000 in several communities, including Arlington County, Fairfax County, and Alexandria. The primary reason housing is so expensive in Virginia and elsewhere is because we do not build enough of it.

If getting the lowest price possible is your main priority, consider searching for a home in November or December. There won't be as many houses to choose from compared to the spring and summer months, but you'll face less competition and a higher likelihood of purchasing a home below the asking price.

Cons of Living in Virginia

Between June and September, temperatures average around 77-80°F and humidity levels rise to 68.7%. Traffic and Congestion: Rush hour can have a significant impact on your commute times, specifically in Virginia's larger cities. It's particularly bad in the Washington, D.C., suburbs.

According to Bankrate, Virginia makes the list of the Top 20 Best States to Retire In. You'll find several wonderful cities to settle down in, as well as an abundance of amazing retirement communities. One of the biggest benefits of retiring in Virginia is the outdoor recreation you can enjoy when living in the state.

#1: Roanoke

With a median home sale price of $225,000, Roanoke comes in at number one on our list of most affordable places to live in Virginia. There are about 100,000 residents living in this mid-sized city.

Will 2024 be a better year to buy a house? ›

Mortgage rates are expected to come down in 2024, and inventory and home sales are likely to increase. Homebuyers and sellers can also expect prices to continue to rise, albeit at a slower clip than the past couple of years.

The priciest city in Virginia is Arlington, where the cost of living is 37% higher compared to the state average and 37% higher than in the rest of the U.S. The cheapest major city in Virginia is Lexington, with a cost of living 12% lower below the state average and 12% lower than the national average.

In June 2024, 44.2% of homes in Virginia sold above list price, down 6.1 points year. There were only 27.4% of homes that had price drops, up from 21.0% of homes in June last year. There was a 100.5% sale-to-list price, down 0.59 points year over year. …

Winter is traditionally the slowest season for home sales and, as a result, it's the cheapest time to buy a home. There's usually less competition between buyers and sellers may be more willing to negotiate to make a sale since buyer interest is lower than it is in the spring.

And as you might imagine, recessions are a risky time to buy a home. If you lose your job, for example, a lender will be much less likely to approve your loan application. Even if a recession doesn't affect you directly, if your area is hard-hit, that could have a serious effect on the local real estate market.

Other Virginia first-time homebuyer loans

FHA loans: Loans insured by the Federal Housing Administration (FHA) have more lenient financial requirements than other loans. You can get an FHA loan with 3.5 percent down and a credit score as low as 580.