For months I’ve been saying that our market is vibrant and that the national statistics you hear about the real estate market aren’t indicative of the Northern Virginia Real Estate market! Well, it looks like our good fortune is spreading. Here’s an except from my Broker’s (Scott MacDonald) blog today.
At times I feel like a broken record – our market is different, we aren’t impacted like the rest of the country, we are seeing houses sell, etc. Well, it looks like other areas are beginning to experience what we are experiencing here in Northern Virginia. In a recent article on MSNBC it has been reported that existing home sales are up 3 months in a row – check it out here: http://www.msnbc.msn.com/id/32104105/ns/business-real_estate/from/ET – thanks for sharing Kendall Bennett. I am not sure if they are experience the number of multiple contract situations we are facing in the lower and upper price ranges like we are, but we will find out. However, I am sure they are having challenges with HVCC as it is a nationwide problem and they will experience the same problems we will have with H.E.R.A. as well – thanks Mindy Littleton. Please be sure to review the H.E.R.A. rules to give our clients the right advice with timing on closings with the new rules being implemented July 30.
In addition to the great news on existing home sales, new home starts were revised and reported to be up 3.6% in June over May 2009 numbers to an annualized rate of 562,000 – check it out even though it is a negative in regards to numbers “anticipated” last year: http://www.census.gov/const/newresconst.pdf. It is our hopes – even though hope isn’t a strategy – that with more good news like this, the media will start to report “our story” of success!
Throughout Northern Virginia, unemployment is comparatively low, housing inventory is low and housing demand has risen. We are in a Seller’s Market! Almost every property that is listed at $400,000 or less, that is priced well and shows well is winding up in multiple contract offer situations. My question is this:
What Are You Waiting For?
If you are thinking of selling your home, now is a great time! Contact me today with any questions.
“When It’s SOLD, The Butler Did It!”
RE/MAX Gateway
