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Fairfax County Real Estate: Is the Market Back? (May 2013 Update)

In the mid-2000’s, the Fairfax County Real Estate Market was going up, up, up – until the housing market bubble burst.

The Fairfax County Real Estate Market is back! (like Tiger Woods's career)

The Fairfax County Real Estate Market is back! (like Tiger Woods’s career)

Like the real estate market, at one point, Tiger Woods was at the top of his game, having won 78 official PGA tour events in only 12 years.

And then?  Boom!

Disaster happened… and Tiger had to take a couple of years off from competing.

But after his time off, he came back and is now at the top of his game again.

Like Tiger, after a couple of years of a correction, the real estate market prices in Fairfax County have returned to a steady climb.

Is the Fairfax County Real Estate market back?

Continue Reading…

How to find a home to buy in a sellers’ market (in Fairfax County)?

It’s a seller’s market in Fairfax County; does this mean that there are no homes to buy?

La, la, la, la, la… STOP!  When the music stops, everyone runs to find a vacant spot… but inevitably, someone ends up standing without a place to sit.

Fairfax County Real Estate buyers

Fairfax County Real Estate buyers

Buying a house in Fairfax County can feel like a game of Musical Chairs. A bunch of homes go on the market, loads of buyers flock to visit them and make an on-the-spot offer on their preferred one.

But, at the end of the weekend, more than one buyer ends up without a new home for yet another week.

This musical chairs situation is caused by too many buyers and not enough listings

The result of having more buyers than homes for sale is lots of buyer traffic as soon as a home is listed, multiple offers on a home, and “bidding wars”.

This overflow of offers allows the seller to select the best one for their needs (the one with the higher price, the least number of contingencies, and the best financing terms).

When sellers have multiple choices, they can afford to negotiate for higher prices. Some sellers even choose to price the home higher to start with. But, as with anything, there is a limit.

Even in a seller’s market, there is such a thing as an overpriced listing – at least in Fairfax County Continue Reading…

How is the Fairfax County Real Estate Market? (Feb 2013 Update)

Spring has sprung in the Fairfax County Real Estate Market

Spring has come to Fairfax County Real Estate

Spring has come to Fairfax County Real Estate

This morning, as soon as I woke up, I heard the birds singing.  I opened the curtains and saw the daffodils blooming.

But when I opened the Multiple Listing Service (MLS) statistics, I found the telltale sign that it was Spring:

Homes are flying off the shelf!

Homes are on the market for just a few days

Throughout the past few weeks, while helping several buyers make offers on their desired properties, I noticed that there was barely any time to make an offer before homes went under contract.  But this was anecdotal evidence and I wanted to know if this was happening across the entire Fairfax County Real Estate Market. Continue Reading…

The Fairfax County Real Estate Market flipped!

On Friday morning, we received 5 phone calls from Realtors® announcing showings to our brand-new listing on the Fairfax County Real Estate Market.  By the end of Sunday, there had been over 25 parties who had visited the home. Wow!

The home had only been active for 3 days and we had a lot of activity, so we felt pretty good about the listing.

Sale-ready living room

Can you imagine muddy footprints on this beautiful living room?

But the homeowner wasn’t happy

It had rained the first part of the weekend and prospective purchasers had stained her clean, white carpet.  (Even though we posted a sign to please remove shoes!)

So, the disgruntled owner spent a few hours on Sunday night cleaning it to get the home ready for the next visitors on Monday.

When the phone started ringing on Monday

Thankfully, when the phone started ringing on Monday, it wasn’t for more showings. This time, the calls were from Realtors® calling to inform us that they were making offers on the home!

By Monday night, we had 3 offers and we presented them to the homeowner who again, wasn’t happy.

How could she not be happy with 3 offers? Continue Reading…

Top 3 criteria for finding the right home in Fairfax VA

How to find a home in Fairfax VA

How to find a home in Fairfax VA

Kathy was moving her family back to Fairfax VA after a few years abroad.    The first thing she did was to research the public school options. She found that Fairfax County Public Schools (FCPS) were very good. She short-listed a few favorites and focused on her husband’s daily commute.  Once she settled on a few key areas, she checked the cost of housing for each.

Fairfax County VA is a big county with many housing choices

With so many choices, it’s important to start the search with the most important criteria first: Schools, Transportation, and Cost Continue Reading…

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