Market Conditions for Alexandria, Virginia Reported by Cheryl Shier, REALTOR Updated April 13, 2012.

Current Market Rating: 4 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 4 1 2 3 4 5 Falling Rising

What an amazing spring market we have going on right now. When the flowers started blooming, so did the buyers. I don't know if you have been reading the latest real estate press coverage, but things are shifting. Because of low inventory in NVA, sellers have more negotiating power. This applies to the "best" properties that are updated have a lot of curb appeal. My last three listings received offers in less than two weeks, and the sellers got close to full price contracts. It's all about supply and demand. So if your thinking of selling your home, don't wait for Summer, list while inventory is low.

Buyers are still being particular in the home selection process, and with lower inventory, there is more of a sense of urgency to move quickly on hot new listings. Buyers realize that the market is shifting, and they are ready to purchase. Interest rates are still below 4% and VA and FHA loans are very popular right now. There are also convential financing terms that are very attractive with as low as 5% down in some instances.

With a conventional loan, buyers don't have to pay PMI (Private Mortgage Insurance) through FHA. PMI is a monthly fee that gets tacked onto your monthly payment.




Location Characteristics: Alexandria real estate includes a broad collection of homes for sale, condos for sale, beautiful estates, investment homes and executive properties. With a quick commute to Washington, DC, the Pentagon and major highway arterites, Alexandria remains one of the top locations in the Northern Virginia and the Washington, DC area.



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