My Real Estate Blog

September 17th, 2007 9:46 AM
I think the market in Oak Hill/ Herndon is showing the affects of the foreclosure/financing issues. The everyday person is finding it harder to find loans to buy homes in our present price ranges. There are a total of 102(we broke 100) single family homes in 20171 for sale going into the weekend of the 14th. 4 new listings came on and 2 homes were relisted for a total of 6. Only 3 homes sold this week - one was a foreclosure, one home was a new listing and one was on the market for 170 days. The biggest indicator the market is slowing is that the Open Houses are getting 1 to 2 people in them and the traffic thru the real estate lockbox is down to 1 or maybe 2 people a week.  The interest rates have come down a little - so hopefully, this will get more buyers in the market. The key to this market is to aggressively price your home and have it in the best showing condition.  If you have any comments or want further discussion or information, I am just an email away. Have a great week!

Posted by Angela Mitchell on September 17th, 2007 9:46 AMPost a Comment (0)

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