Northern Virginia - Homes Sales Up 53.92% in September - 10/10/08 09:40 PM
MRIS reports an increase of 53.92% in the number of home sales in Northern Virginia (Fairfax & Arlington Counties and the cities within them) when compared to the same month last year! It seems that much of the market has finally corrected, with home prices in September down about 22% from the prior year. In general, it seems that the sellers that sold dropped their prices about 10% in September, and buyers managed to bid them down ANOTHER 8%, from their listing prices. Also fueling the urgency this past month was the change in legislation requiring any buyers planning to buy … (1 comments)

Loudoun Home Sales Up 56.6% - 10/10/08 12:03 PM
Finally, a good news headline! MRIS published their regional statistic reports this morning; and they actually showed that, in September 2008, sales in Loudoun were up 56.6% when compared to the number of sales in September 2007. I had predicted a continued increase in sales activity; but I will admit that this number exceeded even my own expectations.A contributing factor to the increased volume of sales is the change in FHA, with a large number of buyers trying to take advantage of the final opportunity to use the seller funded down payment assistance programs. This change required that all loans be … (0 comments)