. . . ....Voice of Northern Virginia.... . . . Homes, Living, Community & Businesses

•   There are  414 listings with an "available" and 8 properties with "contingent with kick out" status.

•   There's an additional 53 that are "contingent with No kick out"

•   Currently, there are 70 properties "under contract" on their way to settlement.

•    32 properties have settled or closed this September-to-date.

But the cars traveling west on Lawyer's were not so obliging and unfortunately, the student did not feel comfortable enough to forge a path and make the cars yield to her, the pedestrian.  Perhaps she's been disappointed on past days.

 
Don't forget the Linton Hall Manor Celebration

     If you're not part of the solution, chances are you're part of the problem.

     And this world, as we know, has plenty of problems already.

The kids are back in school. Summer vacations have come and gone.  It’s the end of the summer doldrums.  The pace is picking up and heavier traffic has returned to our streets.

This is also the time when real estate activity starts to pick up again after the typical August hiatus.  But with the echoes of bad news across the media one might think twice and question the current health and future of the local northern Virginia market.  But we are hearing otherwise and that is what makes a local market far different than a national one.

Claudia Callis and Pam Carver, agents with a combined 57 years experience in Northern Virginia real estate note the recent surge in activity saying,

“Although the real estate market has weathered a severe downturn in sales and pricing we have personally experienced an uptick in the market in the last few weeks.  And we are anticipating continued improvement.  It seems prices have leveled off and we have observed an increase in serious purchasers reentering the market.”

And while we look forward to this uptick in activity there are still certain characteristics that inevitably drive all transactions.  Jeff Palmucci, while noting the current opportunities that exist for buyers says that one of the most important factors is pricing your property well,

“Vienna homes that are properly priced and in good condition continue to sell.  This is, without question, the best time to buy a home in the 21st century.  There is a large supply of reasonably priced homes on the market today."

July home sales across Northern Virginia were off just slightly from the year before.  Lower sales in the inner suburbs kept the statistics from increasing overall.  The total inventory of available homes on the market at the end of July stood at 10,002, still relatively high but a number that could drop if the market continues to recover through the fall.  On August 21, there were 80 properties listed as "under contract" and on their way to settlement in Vienna, Oakton and Dunn Loring zip codes.  That's a lot of activity for a summer month that is normally considered "slow".

Other agents note the increased purchase offers of late but call attention to a date that is rapidly approaching: the end of the seller assisted down payment programs.  As a result of the landmark housing legislation that was signed into law July 30, sellers will no longer be able to provide negotiated down payment assistance to buyers.  In addition, the bill increases the minimum down payment for FHA loans.

As the rate of decline in house prices slows in the second quarter there is reason for hope and greater expectations.  Realtor Liane Carlstrom says,

“I am convinced that the market will pick up in September and October as it always does at this time of year.  I have several customers who have waited out the end of summer to list their homes this month.  It is still a VERY good market for a buyer!  There are some great prices out there - especially further out!”