Real Estate News About Market Changes In Woodbridge, Lake Ridge, and Prince William County
You Can Sell Your Home Fast, And For Market Prices That Are Recovering
It's A Seller's Market In Northern Virginia Once Again
What is the definition of a Seller's Market?
From my experience, I do not know anyone who can point to just ONE fact that defines a Seller's Market.
Here is just one sign that we turned the corner to a Seller's Market sometime over the past six months: There are more homes under contract in Lake Ridge than homes available for sale.
Yep, we have fewer homes for sale in Lake Ridge than homes under contract pending settlement.
Specifically, as of 7:28 AM today, we have 118 homes for sale in Lake Ridge, versus 201 homes under contract, pending settlement.
According to the National Association of Realtors (NAR), 95% of real estate transactions are done by 3% of active Realtors.
We who comprise the top-performing 3% of agents who do 95% of the business around the Washington area stay in touch via master-mind groups, email, and phone calls.
Each of us among the top 3% report multiple offers on homes in good condition; multiple offers frequently spark bidding wars that push contract prices above list prices.
By the way, Lake Ridge is not unique.
The statistics as reported in the Realtor's database show that inventory is low across Northern Virginia... sales exceed active listings... prices are edging up.
So, if you have been thinking about selling and moving up to a larger home, you have the opportunity to get a lovely move-up home $200K - $400K below the price YOU COULD NOT AFFORD in 2004.
Sure, you won't get the 2004 price for your present home when you sell to move up, but with FHA 3.5% down home loans available to you for homes up to $730,000, you don't need gobs of cash to move up.
Did this post tickle your curiosity? CLICK HERE to send your question. Answers shall be sent by email ONLY, unless you specifically ask for phone call.
You can get computerized, automatic, customized FREE ALERTS by email when new listings of homes that fit your wish-list are posted on the Realtor's MLS. You'll find out about the newest listings before most Realtors know about them.
That way you'll know when your dream home hits the market.
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Opportunities Are Everywhere...We Can Help You Find Your Dream Home.
Erick Blackwelder or Peggy James of Erick and Company - Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-590-2252 list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Cannon Bluff, Meadowbrook Woods, Blooms Crossing, Manassas Park, Beaver Creek, Hunter's Ridge, Brittany, Manassas, Montclair, Dumfries, Occoquan, Dale City, Nokesville, or anywhere in Prince William County.
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