This post is going to be very local in nature - Northern Virginia readers -- we need houses to sell! The market has turned on a dime and sellers are now starting to get their asking price, (or 10s of thousands more -- see Steve's comment on last posting); entertain multiple offers and move up to their next house with very cheap loans.
Are you ready to sell? Who do you know that's ready to sell? Please respond asap so we can catch this upsurge for you, get your home sold and move up to that next great home that you can buy with interest rates that even you grandparents haven't seen! (Lingering today under 5%).
The whole Northern Virginia market is down to a 2.0 months' supply -- that's deep in seller market territory. For price ranges under $500,000 it's even less than 2 months!
Call me today, please! (703) 819-9800. I need the lead!
Thursday, May 21, 2009
HELP! WE NEED LISTINGS!
Friday, March 27, 2009
Home Sellers Market Returns in D.C.
If you’ve been waiting for the Seller’s Market to return – wait no longer! In the first quarter of this year, several towns and counties in Northern Virginia have entered the Seller’s Market territory with less than a 3-month supply of homes available to home shoppers.
Buyers have been leaping off the sidelines for months to snatch up houses that have had a 5-year backup in pricing. For instance, this activity has reduced the standing inventory in Fairfax County down from a 6.54-month supply in March 2008 to a 2.94-month supply today. Here’s how the regional absorption rates look:
Northern Virginia: 3.14 months
Arlington County: 4.33 months
Loudoun County: 3.31 months
Alexandria City: 3.18 months
Fairfax County: 2.94 months
Prince William Co.: 2.03 months
Prices are starting to move up, however. Homes in the lower end are beginning to sell at or above the asking price. Meanwhile, average sales prices are selling at 96% of asking prices. As the market tightens, those price increases will start creeping up higher end homes as well.
So what? What does that mean to you? If you or anyone in your family is a first time buyer – get off the fence! The federal government is offering an $8,000 tax credit (with no pay back required!). Prices are still very affordable. And there is also $0 down payment financing available for first-time buyers as well – coupled with the $8,000 tax credit. The credit is available on homes settled by December 1, 2009.
If you’re a move-up buyer - now may be the time to make that move up before prices start escalating out of control. If you bought before 2003, you most likely have the equity necessary to make that move up while the time is right – prices are lower than in 6 years; interest rates are lingering in the 5% range (even in the 4%'s with points!); and there’s inventory still available.
Monday, March 16, 2009
Northern Virginia Real Estate Market As of March 16, 2009
Today, the Northern Virginia Association of Realtors sold market is up 10.26% year-to-date.
Today, the Northern Virginia Association of Realtors pending sales market is up 21.09% year-to-date.
Today, the Fairfax County sold market is up 40% year-to-date.
Today, the Fairfax County pending sales market is up 30.96% year-to-date.
AGENTS - have you told anyone?
BUYERS - have you gotten off the fence?
SELLERS - are you ready to move up before prices do?
Wednesday, March 11, 2009
PUNCH THROUGH!
Fear creates hesitation.
Fear transforms your confidence into doubt.
Knowledge is power!
Knowledge strengthens your resolve!
Knowledge beats down fear every time!
Our clients want someone with confidence to show the strength in the market and help them defeat the fear they have of buying or selling a home in today’s market.
They have a suspicion that the market is different in Northern Virginia – but they don’t KNOW it – You Do!
Once you Punch Through – amazing things happen. The picture in this email is of a jet at the precise moment that it breaks the sound barrier. I’d like you to see the sound barrier broken in real time. Click the link below for a 30 second video on a jet doing exactly that.
http://www.fugly.com/videos/12243/video_of_a_jet_breaking_the_sound_barrier.html
PUNCH THROUGH self doubt
PUNCH THROUGH challenging contracts
PUNCH THROUGH those questions in your mind about how good you are!
Because you are GOOD!
Because you are the BEST TRAINED!
Because you KNOW this is the BEST time for the market in years!
PUNCH THROUGH!
Tuesday, March 03, 2009
DC market rated #1 by Forbes
Finally -- it's not just me. Forbes magazine is letting its readers know that the DC market is on the upswing. Take a look at the link above for the Top 10 as rated by Forbes.com
