The real estate market in Centreville, Manassas, Haymarket, Gainesville and Warrenton is getting to an all time low. Buyers and investors are realizing some very good buys and will continue to do so at least for the next several months of 2008 in the Northern Virginia locals outside of our Nations Capital. The sad story of all the foreclosures, more than I've ever seen in my 13 year real estate career has made it a perfect time to purchase a home. We don't know exactly when the bottoming out will occur, but if you buy to hold on to your property at least 5 to7 years you will likely realize a very good appreciation.
What has gone up in the last 10 years has certainly come down. That's the life of the real estate property cycle. For all those people who were afraid of the crazy market in the 90's now is the time to buy that first home, or move up from your condo to a town house or small single family, or from a cramped townhouse to a much larger detached home with yard for your growing family. What you may lose on the sale of your homoe you will certainly gain back and more with your new purchase. As it puts you into the more desirable house than what your left, you will be able to gain equity quicker.
So go for it, get your feet wet and dive in!
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