Does that sound like a lot to you? Were you thinking only 10 people bought and sold real estate in Alexandria, Virginia? Maybe 100, what about 1,000? After all of the media doom and gloom about record high foreclosures, unemployment, recession, and even depression, it may be hard for you to believe, but in 2008, approximately 4,130 people bought a home for sale in Alexandria VA!!!
From Alexandria City (including Old Town, Del Ray, Rosemont, Landmark, Cameron Station, Stonegate and Seminary Walk), to Alexandria of Fairfax County (including Kingstowne, Manchester Lakes, Rose Hill, Stratford Landing, Belle Haven, Belle View, Hybla Valley, and Landsdowne), over 4,000 buyers studied, searched the MLS listings, got approved for mortgages, viewed condos, townhomes, duplexes, single-family, luxury, and new construction homes for sale, worked with a buyers agent, submitted offers, negotiated, inspected, and CLOSED ON A NEW HOME!
You won't hear that on CNN or MSNBC, why? Because real estate is and always will be LOCAL!!!
In the sellers market, you were probably afraid NOT to buy because the prices were going up. You probably thought the prices were going to go up forever so you couldn't wait. You wanted to compete, waive contingencies, buy a home without even looking at it, and pay more than the asking price.
Now, you can be picky. You can see more homes, and you can probably see them more than once before making a decision to buy. You can negotiate, you can offer less than the asking price, you can ask for closing cost assistance, you can ask for repairs, you can get a KICK ASS interest rate, and you can PAY LESS if it APPRAISES for less.
You have all of the ingredients to buy the cheapest house in the most desireable zip code, school district, neighborhood, or city of your choice. Try waiting for the bottom of the Alexandria Virginia real estate market before you choose your new home, and all you'll get may be leftovers.