Sellers who are interested in "testing the waters" should shy away from this market. If you want sell, update only what is necessary to get your house sold. Buyers are much more interested in the "bells and whistles" like hardwood floors and granite countertops than in a new HVAC or water heater. First impressions count, and when they walk through the door, that is what they are looking for. The cosmetic stuff seems more important. They want to see the bling!
Things were a bit slow in July/August which is typical for this time of year. Home sales are up, but prices are still coming down. Tougher financing has encouraged more buyers to use FHA or VA insured loans. Conventional financing requires at least 10% down in the current market. Foreclosure properties have been moving at a rapid rate with multiple offers submitted in some cases.
Location Characteristics: As of 2005, the estimated population of Fairfax county is 1,366,175; making it by far the most populous county in Virginia, and one of the largest in the United States. It is also the most populous jurisdiction in the Greater Washington Area, surpassing the population of Washington, D.C. by over 500,000 residents, and Baltimore by 300,000 residents. Its county seat is the independent city of Fairfax. Fairfax County is the location of many suburbs of Washington D.C. and the county lies just outside of Washington D.C.
About Cheryl Shier:
Success is not measured in dollars, but in the satisfied clients I have obtained over the years. Hard work, fun and a thorough knowledge of real estate in Northern Virginia has guaranteed a happy home buying and selling experience for my customers. Let me assist you in finding or selling your home - contact me at (703) 980-2054 or email me at cheryl.shier@mris.com
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
