HOW LONG WILL IT LAST?? WHO KNOWS??
I just looked at the SOLD statistics for Loudoun County, Virginia for February 2012 and 2013.
Single Family Detached Homes SOLD in February 2012 - 130.
Average SOLD price February 2012 - $496,448.
Single Family Detached Homes SOLD in February 2013 - 153.
Average SOLD price February 2013 - $564,682.
That is an increase of $68,234 in SOLD prices. That is good news for Loudoun County folks who want or need to sell their home.
Question: Isn't it true that if I make a full price offer on a home for sale that the seller must accept it??
Answer: Absolutely NOT. An offer to buy real estate is more than just price. It is a combination of price, contingencies, buyer's strength to close, closing date, etc.
OF COURSE, THE MESSAGE IS -
FOR HOME BUYERS: With home prices rising at about 14% year over year, it may pay to buy now rather than later.
FOR HOME SELLERS: More equity gives sellers flexibility to sell or not, short sell or not, foreclosure or not.
FOR AGENTS: A modest improvement in home buyer activity is welcomed news. Home in Leesburg - $500,000 range.
Of course, we're not yet back to the house value peak of about 2007-2008, but every bit of equity helps reduce the number of Short Sales.
That $68,234 gain in home equity just may mean a few less SHORT SALES or FORECLOSURES.
Nothing will go farther towards GETTING BANKS OUR OF THE REAL ESTATE BUSINESS than a significant increase in home values in Loudoun County. I for one would look forward to pulling a list of homes for sale and not seeing one single Short Sale listing.
WHEN EXPERIENCE COUNTS, home buyers will enjoy our many years
of serving home buyers in Northern Virginia for over 25 years.
We provide buyers with . . .
* Comprehensive home searches,
* Personal tours of homes for sale,
* Comparative Market Analysis for homes under consideration,
* Experienced financial analysis to help you understand different loan opportunities,
* Personally manage home inspections, termite inspections, settlement meetings,
AND MUCH, MUCH MORE.
Lenn Harley, Broker, Realtor, Homefinders.com, 800-711-7988
For a tour of homes in your location of choice in Loudoun County, contact Homefinders.com. We'll arrange a wonderful tour and you can get to know the county, shopping, recreation, the real estate market and the hardest working Buyer's Agents in the area.
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