Is anyone out there still on the real estate fence? - Friday September 11th 2009
A couple of months ago I wrote offers for 7 such fence walkers (people who were waiting for all the housing stars to align). In my opinion, which only pertains to Northern VA, now is a very good time to write an offer on your dream home or investment property but it's not going to be easy. Not only do you have plenty of competition but many of the homes on the market are being sold under "short sale terms". This means you also need time (4 month process) and patience because communication from a bank is sparse while your offer and the sellers' hardship are being evaluated. The good news for buyers: Prices are down approximately 5% from 2008 prices. Homes in Woodbridge, Stafford and Triangle are more affordable and if you have to move, you should have no problem renting a well maintained home.