NOW is the time to BUY and SELL. In my humble opinion - we are in a unique pocket of the real estate market right now. Supply of homes for sale is the lowest since July of 2005! September data for Loudoun County Real Estate indicate we had 2100 listing active on the market. Homes are moving under contract in about 61 days. I have had my own listings go in less time than that. A Leesburg property listed for $419k went in 2 days with multiple offers. We are waiting for the next "wave" of foreclosure properties which should start happening in the Spring of 2010.
Last Friday, I attended the Dulles Area Association of Realtors Economic Summit in Ashburn. Top Economists - including Gregg Stratton of the National Association of Realtors, spoke positively toward the real estate market for the first time in many months.
The first slide in Gregg's outline: "Financial Markets Improving, Rise in Unemployment has Slowed, Housing sales/prices up in 2009 and Positive Economic Growth in 3rd Quarter".
As a Realtor, I have been telling you all what I see and hear out in the field. All speakers indicated that the Metro DC area, including Northern Virginia, is somewhat insulated by the incredible job opportunities we have here. Yes, we have been hit by the down market and unemployment, but we are recovering at a faster pace.
I have felt the positive changes in the market for months and have shared this in my blogs and conversations. Economists like to have data and trends so they can report the facts. Once they report you'll start hearing it on the media. Don't wait. This is a GOLDEN opportunity if you've been waiting for change. It's here.
You can find Gregg Stratton's outline and more at the Dullesarea.com website. Call or email me today if you have questions or just want to find out what your home is worth in today's market.
