Don't Guess-Here are the Facts about Northern Virginia Loudoun County Oct. 2011 Real Estate Market Report
Fall
market is always full of surprises in the Northern Virginia Real Estate
roller coaster market. While Sept 2011 we have big headlines" " DC Metro Sold Price Highest in September 2011 in four Years"
Analyst
analyzes blame reduction in the FHA loan limit as one of the major
reason that that affected the housing slow down in Oct. 2011. As a
Loudoun County Realtor I know after the school reopens housing market
tends to slow down and the effects are clearly reflected in the Fall and
winter market. Loudoun County resale market does have a tougher
competitor its new construction. Builders are offering great incentives
to attract buyers especially first time home buyers and mid size single
family homes.
On a positive note the average sold
price and median sold price for both detached & attached style home
(not including garage or parking spaces) are both on the green zone. If
you speak to a buyer in the Loudoun County market they will share their
frustration, about how frustrating it is to wait for good homes to get
on the market while the stale inventory does not appeal them. Active
inventory for Loudoun County is below year to date.
So million dollar questions.....what are we heading towards???
Last month I did a historic data analysis of the Northern Virginia Real Estate market for past 10 year in Fairfax County area . Read it and look through your crystal all on ARE YOU READY TO TAKE ON THE OPPORTUNITY?
As a
Fairfax & Loudoun County Realtor with Samson Properties my take is
we still have all the positive economic condition in the Northern
Virginia Region that will influence the purchasing power of the Fairfax
County buyers and sellers in both short and long run. Whether you want
to wait on the fence and see what happens to the market OR take the
opportunity of lower interest rate and still raising housing market. My
advise to my buyers are why wait for the crazy spring market when you
can take steal the deal today!
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