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LOUDOUN COUNTY HOME BUYERS ARE BUYING - THEY'RE GETTING OFF THE FENCE!

By
Real Estate Agent with Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate 303829;0225082372

IN THE PAST TWO WEEKS, I'VE PRESENTED TWO CONTRACTS WHEREBY MY BUYERS WERE OUTBID ON FULL PRICE OFFERS.  Lovettsville homes for sale and Purcellville homes for sale are wonderful locations for home buyers.  Popular public schools, close to MARC Train and the Dulles Greenway, these Western Loudoun County homes for sale offer the best prices in 3-4 years. 

How long has it been since that was happening?  Quite some time.  Further, I selected 4 homes to show another home buyer tomorrow and one of the listings has two contracts on it, a primary anLoudoun County Va Homes for Saled a back-up.

What's causing the rush to buy??  Price, price, price!  So far, the buyers with whom I'm working are all employed in Northern Virginia.  What is interesting is that they are not hesitating to come to Loudoun County.  For some time, many buyers wanted to stay closer in to DC for fear that the gasoline prices would again rise and they'd have an expensive commute.  $2.00 a gallon gasoline appears to be acceptable.

One thing for sure, in conversations with my buyers, low interest rates and low home prices are working their magic to encourage home buyers to make the right decision.  What are they looking for?  Homes on 3 acres or more, with 4 bedrooms or more, 2-3 full baths, 2-3 car garage, priced from $400,000 to $600,000.  We have a number of homes that meet those criteria.  Many are vacant.  Some are short sales so they may go off and back on the market.  That often happens and I'll be watching. 

Tomorrow I'm showing homes in the $400,000 to $550,000 price on 10 acres or more. 

HOMES IN WESTERN LOUDOUN COUNTY FOR SALE WITH ACREAGE - No Short Sales.

To see photos and descriptions of homes for sale in Loudoun County click price.

City Zip5 ListPrice ClosePrice BR FB HB # Gar Lot Acres YrBlt
Lovettsville 20180 $510,000   4 3 1 3 3.78 2004
Purcellville 20132 $529,900   4 4 1 2 3.03 2004
Purcellville 20132 $545,000   5 4 1 3 3.05 2000
Purcellville 20132 $549,900   5 3 1 2 3.3 1998
Lovettsville 20180 $550,000   4 3 0 2 10.01 2001
Purcellville 20132 $565,500   4 2 1 3 3.1 2002
Purcellville 20132 $599,900   4 3 1 2 3.94 2003
                   

           Loudoun County VA Map

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988, E-Mail.

search       Lovettsville Real Estate  "NEVER A FEE TO BUYERS"

 

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Comments(6)

William Johnson
Retired - La Jolla, CA
Retired

Hi Lenn, I am hearing reports like this all around the country. Our SS and REO's gets lot and lots of offers and they price them below market to receive numerous overbids, looking good to the asset managers of course. Never mind that the buyers and agents that have to spend so of their time being wasted trying to guess at a price that will get accepted. But the  SS are selling and so are the REO's and even a dribble of regular homes too.

Mar 20, 2009 11:34 AM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

William.  Things have been very active in the past couple of weeks.  The short sales are going under contract.  I'll be watching to see what closes.

 

Mar 20, 2009 11:51 AM
Sandy Childs
Keller Williams Realty - Spartanburg, SC
Realtor - Spartanburg, SC

Lenn: We are seeing the short sales and the foreclosures selling for over full price. I just got one under contract today. There were 3 offers on the property. We went in over full price.

Mar 20, 2009 12:12 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Lenn you are right we have not seen that for awhile, but I have also been running into more multiple offers lately.

Mar 20, 2009 02:30 PM
Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA

That is a great thing.  Maybe things are finally starting to break!

Mar 20, 2009 03:22 PM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Sandy.  Not unusual.  Unfortunately, the news is still encouraging buyers to think they can get homes for 50% of list. 

George.  It's hard to get a handle on the PENDING percentages because the listing agents are so negligent about changing status, but when I call for availability, they tell me "under contract" or "2 contract", etc. 

Jim.  It's no more than a "window of opportunity" for buyers who will listen and not think that they can get properties at distress prices.  Distress prices don't exist in my market place.

 

Mar 20, 2009 10:34 PM