2010 is set to be a banner year in real estate in Northern Virginia! Why? Buyers and sellers are motivated. What's happening and what's next for prospective real estate clients?
* Even though interest rates are ticking upward in December, rates are still at historic lows. Smart, well-prepared buyers are in the market. Now is their time to act!
* The Northern Virginia economy is primed with employment sectors seeing job growth. Yes, I said job GROWTH! CNBC (and many others including Forbes Magazine) recognize the Commonwealth of Virginia, particularly Fairfax, Arlington and surrounding counties and cities, as the Top State for Business because of its economic growth, affordable cost of doing business, talented and educated workforce, along with other factors. This surge of employment means more competition for homes and potential future price aprpeciation.
* Home inventory has dropped with a 3-4 month projection. Multiple offers in Northern Virginia on transactions are found pointing to smart buyers getting off the fence and taking action.
* A recent study by Myers Ressearch showed that 91% of registered Virginia voters surveyed believe that buying a home is a good financial investment.
* Pending sales (homes under contract) in Northern Virginia are up.
* First-time buyers and sellers are benefiting due to the first-time homebuyer tax credit expansion provisions. But, encourage your clients to get moving. April 30, 2010 is just around the corner.
Hoping that buyers and sellers don't snooze through what could be one of the best real estate investment markets in years!
Make it a Happy New Year!
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