As a ten-year veteran in real estate, I can say that the real estate market is balancing out...or normalizing.
For those who thought the crazy sellers market of yesteryear was the norm, now may seem like doom and gloom.There are some buyers who are still on the fence right now. Two weeks ago, I mentioned who the primary buyers of today are. For the masses who are still thinking about putting their home search on hold, I can say that now is the time to buy the 'Cheapest of the Best'!
When fuel costs escalate and interest rates climb, we do see a pause in the real estate market here in Northern Virginia. Consumers who considered purchasing in further out locations in order to get 'more house for the money' start to reconsider, and debate if it's more cost effective to pay more to live closer in. For this reason, homes in good locations, close to metros and bus lines, and in good school districts always fare better in a slowing real estate market.
If you are one of those buyers who thought the only way you could buy was to go far out, then reverse your compass! One of the best ways to make sure that your property maintains its value is to buy the CHEAPEST home in the BEST neighborhoods, the CHEAPEST home zoned in the BEST school pyramids, or the CHEAPEST home that's WALKING DISTANCE to the metros.
After all, you're supposed to make money when you buy...not when you sell.
Need helping finding the cheapest of the BEST? Give us a call!
We'll be around this week for your real estate needs.