Despite what many people think, the D.C. area is not all government. The government is a huge influence here and the area has boomed because of the government. If it were not for the government, it would most likely be just another small to mid size market area. Remember that Alexandria, VA and Georgetown (then Maryland) were thriving towns before we became a nation. One part of what is driving a good chunk of the growth is the relocation of many private companies to the area because of it's higher than average educated and skilled workforce (probably due to the government think tanks, non-profits, yadda, yadda, yadda).
The D.C. area is considered to have the best housing market in the nation right now. It also has some of the nation's worst traffic (worse than L.A.?) While prices are going down in most other areas, prices are at least inching up here. If you are sitting on the fence waiting for a better deal, you may just fall off the next time you make an offer on a house. Houses are selling here and inventory is less than 90 days.
In a nutshell, we are heading into Spring. Prices will bump up on warmer weather alone and inventory will likely be tight. My bet is that you will pay significantly more for a home in 2012 than in 2011 and I am not even counting the potential of an increase in interest rates.
Let me help you find the home of your choice in Northern V.A. and D.C.
An article on home prices from Yahoo News today! http://news.yahoo.com/s/ap/20110329/ap_on_re_us/us_home_prices
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