Jim Weichert asked the National Association of Realtors to take a look at the Weichert footprint (everywhere that there is a Weichert Realtors office) and tell him where the highest demand area was. They discovered that it is right here in Northern Virginia. They found that demand existed in other areas; however, Northern Virginia is the most successful because not only do people WANT to purchase homes here, but they can AFFORD to as well…because unlike other areas, Northern Virginia has JOBS. People here actually qualify for the homes they want to purchase (for the most part)…this is what sets Northern Virginia apart from other high demand areas. This is also why Northern Virginia was the first market to begin to recover from the housing crisis and why prices are beginning to increase here. Additionally, most houses sell for at LEAST 90% (and many sell for over) of their list price and only stay on the market for an average of less than 90 days (many sell within only a few days…and folks…90-days is ONLY 3 months).
The market is not bad here…if you are still tailgating, get in the stadium folks…the interest rates are amazing and the price of homes aren’t getting any lower. Wanna know when it has hit the bottom? You wont…you will only know when you have missed it.