HOT MESS -Northern Virginia Housing Market?
By Ritu Desai 703-625-4949, Northern Virginia,Washington DC & Maryland Realtor
Every week Ritu Desai with Samson Properties releases weekly market activities that will impact home buyers, home sellers, landlords, and investors' decisions to buy a home or sell a home or rent a home in Fairfax, Loudoun, and Prince William counties. According to bright MLS Inventory -44.5% compared to last year this week last year. Even though the spring market is in full swing we are seeing a lack of seller's motivation to sell the home. It could be Over-housing or Where do I go reason. Lenders are seeing an uptick in mortgage applications. These are not primary home purchases but HELOC or 2nd loans with the equity the homeowners are sitting on. The sentiment is to update the home rather than venture into this tight inventory and uncertain market. This all leads to Home buyers house...