REPORT FROM THE TRENCHES
The real estate market is alive and well in Northern Virginia as we embark on a new year.  Attendance at open houses is way up from the last quarter of 2011.    Last week (January 8), for example, five of my listings were held open and attendance ranged from a low of 10 groups to a high of 18 groups.  Contracts are now being written on properties that have lingered for some time on the market.  Buyers seem finally to be realizing that prices have bottomed out and the current combination of low prices and historically low interest rates will likely not be repeated in our lifetimes. 

The local market held up fairly well throughout 2011, although the last quarter saw a slowdown.  In Oakton and western Vienna (22124 and 22181), for example, a total of 275 homes sold in 2011, at an average sale price of $$819,516.  The average stay on market prior to sale was 79 days.   

This is incredible price stability, when compared with both 2010 ($818,784) and 2009 ($817,069).  The stay on market is virtually unchanged from 91 in 2009 and 75 in 2010,  to 79 in 2011.  The steepest price decline occurred between 2007 ($923,288) and 2008 ($841,472).  Since 2008 we have been basically holding our own, while the rest of the country struggles to maintain value.  This is good news and should reassure us that better times lie ahead.  I expect 2012 to be a year of further improvement.  Northern Virginia:  no need to panic.  Your homes will sell and they will sell at solid prices, reflecting their inherent value. 



Check Out My Recent Newletters and Information about Homes Sold in the Following Communities

We live in challenging times.  At no time is that more apparent to you than at the moment you decide to buy or sell a home.  "How will I navigate this market?" you ask.  "Who can I turn to for guidance?"  You've come to the right place...

As a buyer, your search for a home is intensely personal.  This home will be both your most important financial investment and your refuge from the world.  What could surpass it in importance?  Because of its centrality in your life, the choice of the person who will shepherd you through the process and help you find your home is also critical.  

Similarly, if you are about to sell your home, you need someone with the smarts and savvy to guide you through the process.  Since I left the practice of law and began my career in real estate in 2001, I have been committed to providing my clients with a level of service second to none.  What I can promise is that, with me as your guide, your sale price will be higher and your time on market shorter than it would have been with anyone else.  I don't rest until you are firmly under contract --- at the best price and in the shortest time that the market allows.  

In 2010-2011 alone, I sold over $60 Million in Real Estate, mostly in Oakton, Vienna, Fairfax and McLean.  No other Weichert agent in the Metropolitan area can make that statement.  In Oakton alone, my sales volume is more than twice that of any other agent.  In these challenging times, Northern Virginians know that they need someone who knows how to navigate these choppy waters.  So, call me at 703-597-9373 (daytime) or 703-620-5115 (mornings and evenings) or write.  I love email and will answer throughout the day, even into the wee hours of the morning (my favorite time to strategize).   I am here to serve.