My Real Estate Blog

March 22nd, 2009 5:56 AM
Not such a great week for the seller solds or the market itself, eventhough the interest rates have come down to the mid 4s - historical lows. Not sure what happened and what makes this market react so up and down. We had a good 3 weeks and then this week shows up. There were 9 new listings - 3 of which were relisted homes - so a net of 6 actual new listings. To see those, click http://matrix.mris.com/Matrix/Public/Email.aspx?ID=29718157127. There were a total of 3 homes sold for the week - down from the last 3 weeks. Two of the three were short sales and one was a seller sold home. Click to see http://matrix.mris.com/Matrix/Public/Email.aspx?ID=29718095415.  The inventory is still low - total of 53 active single family homes in Oak Hill/Herndon- which is still making it hard for buyers to find the right home. I am still getting quite a few calls from buyers so I would think this week was just a fluke and it will do better in the coming weeks. Usually our spring market is January, February and March - this is when the buyers are out looking. Most sellers think it is April, May and June, when the flowers bloom, so the inventory starts increasing right after Spring/Easter break. This year, the market may do well during the coming months due to the low inventory and that the buyers today cannot find a home. The combination of the inventory increase and low interest rates may do great for April, May and June for both the sellers and buyers. Historically, there is more competition for the sellers during this time to have their home both well priced and in great condition.

Posted by Angela Mitchell on March 22nd, 2009 5:56 AMPost a Comment (0)

Subscribe to this blog
Recent Posts:

Archive:

My Favorite Blogs:

Sites That Link to This Blog:

Top in Sales in Northern Virginia!!

Phone: Cell: Fax:

Setting the Sales Price | Free Home Valuation | Angela Mitchell | Client Feedback | Coming Soon Homes | My Sold Listings | Neighborhoods-Community Information | Utilities and Other Links | Search Va Homes | Selling Your Home | Home | Mortgage Saving Tips | ARM vs Fixed Rate Calc | Request Industry Info | Staging Your Home | Buying Foreclosures/REO's | Plumbing and Fixtures | Selling One, Buying Another | OakHill Market Update Blog

Copyright © 2012 Angela Mitchell Sells Northern Virginia
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin LoginTerms of UseSite Map
All rate, payment, and area information are estimates and approximations only.