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Housing Market Stablizing

By
Real Estate Sales Representative with MacDoc Realty LLC

Here in the Northern Virginia area, I'm seeing the housing market stablizing, prices are slowing coming up and we're seeing fewer foreclosure, but more short sales.  Lenders are realizing that agreeing to a short sale is lowering their losses by reducing their costs associated with foreclosing and managing the property while it's marketed.

Will this recovery continue?  That remains to be seen.  The first-time homebuyer tax credit and expanded homeowner tax credit are certainly the reason the housing market has stablized and I believe extending this credit will help keep the market stable.

Posted by

Rita Gibbons
The Gibbons Group ~  MacDoc Realty LLC

Call: 571-330-0741 ~ Fax #: 888-235-1567
Email: LuvnNLivn@gmail.com
Web: www.RitaGibbons.com

Licensed in the Commonwealth of Virginia
NVAR Top Producer &  Multi-Million Dollar Top Producer (2008-2009)
Accredited REO AgentTM, Certified REO Property Specialist (CRPS) & Certified Distressed Property Expert (CDPE)
Member: NAR, VAR, FAAR, MRIS; Associate Member: NVAR

The greatest compliment I can receive is a referral from you!  Thank you for your business.

Comments (1)

Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

We have been seeing the same thing here in Orange County, CA.  I agree it is too soon to call it a recovery.

Feb 17, 2010 12:23 AM