Another great week. The market is stabilizing and I think that has a lot to do with the investors buying up the foreclosures and the interest rates having become so attractive - making it more safe for buyers to buy. This week we have 122 single family homes in the market in 20171 up from 121 - so the inventory numbers are resisting going higher. There were 14 new homes that entered into the market - 2 of which were reissues and 1 of those being.s a preforeclosure - which is significantly down from last week of 22 new homes so that is a good trend for the existing market. 8 homes sold this week - which is down from last week - but is a great number compared to what we were experiencing in the first 3 months of this year. With the inventory still up from January, the sellers need to invest in their home to get their home to sell in a reasonable period of time at a good price. Overpricing is one of the worse things you can do. Now that we have regular homes selling versus just foreclosures, it should be easier to establish prices.

The market continues to hold its own. It is stabilizing with 120 active single family homes for sale versus 121 last week. There were a total of 13 new homes on the market - one of which is a preforeclosure. A total of 9 homes sold so far this week versus the 10 that sold last week. Overall, we are continuing to see improvement on the market. The non-foreclosure homes are selling which is setting a base for this market. Hopefully this trend will continue and once again we will have a market where there is an adequate number of buyers and sellers and the buyers will feel comfortable that their investment will hold its' value.

The market continues this week with a much needed stabilization focus. The more we stabilize, the more the buyers feel comfortable buying in this market and the more the sellers who put their home in tip top shape will sell their home in a reasonable time frame. A stabilized market is a benefit to both parties. We had another great week for buyers and sellers. The inventory is at 121 in Oak Hill/Herndon - so it is not increasing and has remained at this number at least 3 weeks. With this in mind, we can pretty much say that there will not be a glut of new listings this Spring - the glut drives the market down when there is an oversupply of homes. A total of 13 new listings came on with 2 of those being relists. A total of 10 new homes sold versus last week's number of 8 No new foreclosures came on the market but they will enter the market on a regular basis for quite awhile. Not only those people who took out 0 down loans and are upside down in their mortgage, but people who put money down and are not able to come to the table with additional funds to close. The buyers who bought in the last 3 years need to live in their home for at least 5 years to be able to sell and not lose money. Real estate has never been a short term investment and I guess that is what we are seeing now.

I have been in real estate since 1992. My memory of the normal market is not clear as to what happened in the old Spring Market. I do know that in the last 8 years, the spring market begins usually in February when the buyers start looking and ends in May - when most buyers are starting to settle on their homes. This years it appears to be truly a Spring Market that coincides with the weather and the flowers. This week we have 121 single family dwellings on the market in Oak Hill/ Herndon - up from 117 last week - so a little more inventory. 22 new homes came on with 2 being relisted homes. It is hard to see the big picture, but nearly 20% of the market is new each week. We should see this number maybe for the next 3 weeks and then it will die down. Of these new homes, none were foreclosures - which is a significant indicator of our market getting better. I am not sure if this will continue or not since so many people are upside down on the mortgages - especially in the price range under $500,000. The GREAT NEWS - saving best for last - is that 13 homes received contracts - compared to 5 homes the week before. 13 homes selling in a week has not been seen since 2005. A few more weeks of this and our market could become healthy for the buyers and sellers. I was excited 3 of the 13 were my listings - a big congratulations to the sellers that have worked so hard to get their homes in great shape. I have a few more so hopefully they will be part of the sold statistics.