Trends in Housing Year End 2009 Report and Highlights
Posted by Super Admin on Friday, January 29th, 2010 at 1:26pm.Hey there,
Well it's time to send you the attached multiple listing report of the state of the current Fairfax Homes climate.
As you'll see, year-over-year data improved for once in a long while as we continue to see decreased inventory, shorter days on the market, pricing stability (although arguably at the bottom of the market) and continued, historically low rates.
With the new tax credit for qualified owners of homes that want to make a move, it serves to reiterate the point I've made to you before. Folks that want to sell and purchase Fairfax homes within the same geographical area such as Northern Virginia feel it necessary to wait until home values increase so as to maximize the profit on their current home...sometimes forgetting that the value of the home they will be purchasing has also increased. While I understand there are certainly legitimate reasons not to sell (short sale situations, not enough to put down on new home, etc.) it's important to remember that if you are not underwater on your mortgage, it's worth considering a move when your new home will have a wonderful rate on the mortgage.
...and yes, the first-time homebuyer credit is there as well for qualified buyers for the first half of 2010. There's no guarantee on if this will be extended, so reach out to your friends that are renting.
As always, please call/email with questions. As you know I work solely off of referrals from past, satisfied clients who use me as their one-stop resource for all matters involving Fairfax homes. I appreciate your referring me to anyone you know that may be in the market to buy or sell and is looking for my level of experience.
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