In my 2 1/2 years as a professional realtor, I probably get this question at least once a day from friends, colleagues and the public at large . . . "Hey, how's the market doing"? Truth is, the market seems just okay and in a proverbial holding pattern. Maybe it's the fear of the unknown, maybe it's the wintertime, maybe it's the upcoming Super Bowl, hard to say. The fact is that in the Northern Virginia area, we are better off than most U.S. markets. This I do know from my business, if homes are priced at the market, they will more than likely sell in a reasonable amount of time. Another related problem is, inventory is so low that sellers might have difficulty finding their new home. And, new construction takes time. So we have a good ole' fashioned Catch 22. Good news continues to be that interest rates are still very low. Stepping back and taking a big picture look, interest rates were 18% in the late 70's. The cost to borrow money is far, far cheaper now. This realtor thinks that, along with the nicer weather and impending springtime, folks will be more motivated to list and buy.
Glenn and I are optimistic and never, ever take no for an answer. Creative marketing and a focused approach will help our clients and colleages reach important goals in 2014. Now let's go sledding!