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Home buyers this is an excellent time to buy. With all the foreclosures that have come on the market in recent months, there are plenty of homes to choose from. However, I think we are approaching the end of the bottoming out of house prices. The market is picking up closer in to the Beltway and will slowly work its way further out. As always, you should be prequalified before starting your search. Please click on my Partners button for a very capable lender. As a strong buyer you can negotiate on price and terms. Homes are selling for less than asking price and sellers are expecting to pay from half to all the purchaser's closing costs.
Sellers there is now light at the end of the tunnel! I am seeing a pick up of sales in Fairfax, Centreville, & Chantilly, VA. Also Ashburn in Loudoun county. Houses are getting sometimes multiple offers. The market is likely to level off soon. Prince William areas of Manassas, Gainesville, Haymarket & Woodbridge has had a housing inventory of 18-24 months. But with the increased activity in Fairfax county occurring, there should be a trickle down effect starting to occur in outlying counties. The market will likely pick up in outlying areas and houses may start to once again gain equity!
Sellers, price and condition of your house are still important in this competitive market. Selling sooner rather than after price reductions and much later will net you the most money for your home. Therefore, competitively pricing your home from the start will help it sell quickly and maybe for more than the asking price!
