Most people mean Falls Church when they say it, but they can also be talking about Falls Church City without realizing these are two different places. Virginia Realtors say they're used it. They're in the same area, but Falls Church City is incorporated.
"There is Falls Church City (incorporated) and Falls Church in Fairfax County," explains Realtor Dan Butler, Jr.. "Ours is a well-established and close in area, great for the "reverse commuter" to Tysons and Reston areas and easy access to all areas of Northern Virginia. We're 10 miles to Washington DC, about three miles to I-495, with loads of commuter options.
About the market, Butler says, "The market in this area is still strong depending on price or condition. If a fixer-upper is priced right you'll see many offers from investors. Under $200,000 is still a very brisk seller's market. Over $400,000 needs to be in tip-top condition for tip-top price and quick sale.Between these two prices the days on market is increasing and selling when priced right."
Says Realtor Morgan Karimi, "As we head into the winter months, you can see a definite slowdown in the real estate sales market. Every year I plot when the sales market begins to slow down for the year. You can definitely see a trend downward this year, starting about August 1st. Most out-of-town buyers have come and bought, leaving only a few local buyers who are looking for the 'perfect' home.
Karimi advises, "Homes that are on the market are receiving modest showings, but buyers think that they can make low offers to see how desperate the seller is. Prices have remained stable. Now is not the time to test the market and see how much someone will pay for your property. Buyers are not willing to overpay for a home just to have a place to move into before the holidays. Interest rates remain at low levels. All of the publications tell us rates will gradually rise to about the eight percent level. However, at this time you can still get a 30-year fixed rate mortgage for under 6 percent. With an adjustable rate loan, the interest rate can be even lower.
"Falls Church convenience to Washington, D.C. can't be beat," says Realtor Mary Thyfault Clark. "For that reason, buyers are still very attracted to Falls Church and Falls Church City, especially since it is one of the Washington area's hottest areas. There is a shortage of affordable housing in Falls Church City, but the Fairfax County area of Falls Church has a range of homes from small ramblers and Cape Cods to magnificent homes surrounded by trees. Falls Church will always remain a strong market."
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Published: December 9, 2004
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