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October 11, 2008
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  CONDITIONS™
By Local Real Estate Experts  


Market Conditions for Fairfax County, Virginia

Reported by Irene de Leon, REALTOR, GRI, SRES, WCR

Updated October 6, 2008.

Current Market Rating: 1



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Buyer's

Seller's

Current Price Trend: 1



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Falling

Rising

As you read information or listen to commentary about the real estate market, one thing is important to remember. All real estate is local. It's a great time to explore your options for buying a home...regardless of the type of housing your lifestyle and budget define.

I can help you find the right home, at the right price in the area that you desire!

Fairfax County home values have maintain a more steady pace than other surrounding counties. Bank owned properties (REOs) and short sales are 2 more Sellers in today's market. These can be complex transactions. Make sure you understand all your rights and obligations with these types of sales. I have experience in handling these types of Sellers and can show you how to be successful and find the right home in this market.

Interest rates are still competitive, there are still many financing options available with conventional and FHA to name a few. Also in this buyer's market most Sellers are willing to give the buyer additional financial assistance.

Buy now, and lock in a lower purchase price and a competitive interest rate.

Job growth remains strong, and inventory continues to rise. Currently, there is a very good selection of homes on the market, inventory is high.

Homes are selling, but with greater choices, they are taking longer to sell. Buyers have lots of options in all home sections, (single family, townhomes & condos). New home builders are giving many incentives for homes under construction and where buyers can take quick posession of the home.

Sellers are open to creative types of offers and terms. Interest rates continue to be competitive and with the many different financing options, there are many good choices.

ZIP Codes: 20170, 22182, 20190, 20194, 20165, 20164, 22066, 22124, 20166, 20147

Approximate Location Boundaries: Fairfax County, Loudon County

Location Characteristics: Metropolitan area where strong employment growth continues. Demand for housing has stayed strong with good inventory in all housing sectors. In Northern VA the job market for skilled labor is strong. Positions with security clearance are many, in fact there are more of these types of jobs than there are qualified workers. The influx of new talented job seekers continues to grow!

For More Information:

View Market Conditions of other areas served by Irene de Leon

Navigate: Top > Virginia > Fairfax County

About Irene de Leon:
Knowledge. Experience. Results!


These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.




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Mortgage Rates
30 Year Fixed: 5.94%
15 Year Fixed: 5.63%
1 Year Adj: 5.15%
(U.S. Weekly Averages)

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