Well, today the press had a full day – a full day to party the housing industry! Over my bowl of cereal today, I had been met first using the headlines atop The Washington Occasions first page – “Home values fall sales plummet: South able to escape, stock exchange battered on news.” After studying through this along with a brief respite using the world news to compensate for the most recent on Iranian nuclear technology, Middle East politics, as well as other depressing news tales, I discovered the company portion of the Washington Publish which reported around the “Indications of any market: Latest Figures Show Sales Shedding, Inventory Rising for Existing Homes.” Like a realtor, It seemed like it had been my job to dissect this content and somewhat sensationalized headlines to give the anxious buyers and sellers, and individuals contemplating entering the housing industry, a serving of reality.

Allow me to begin by stating that YES, real estate market has slowed nationwide, as well as in Northern Virginia. There’s a really significant rise in inventory and less sales. But, consider what we should are evaluating. This past year and 2004 are the most useful housing sales figures ever! However, despite existing home sales lower 11% from this past year to some forecasted 6.33 million for that year – 2006 it’s still the next best year for house sales EVER. Yes, the marketplace has slowed, however the details remain that rates of interest continue to be really low, the economy is good, as well as in the Northern Virginia area, tasks are plentiful and-having to pay. It’s not time for you to panic… real estate marketplace is becoming… (drumroll please) NORMAL! It might take much more time to market a house, and sellers might not obtain the high cost their neighbors got for his or her house this past year, but when they have owned their property for over a couple of years, they’re still creating a significant profit. Buyers – you possess an unparalleled chance that is not available during the last many years to locate a home in a reasonable cost without having to compete against 10 other buyers for the similar property. If you have been undecided about purchasing a home, or awaiting a great chance – this is the time!

Newspapers are in the industry of promoting more newspapers. Photos of 10 property signs on a single corner, and dramatic graphs, and first page reports that say “Home values fall sales plummet” experience feelings which help slowly move the newspapers from the racks. However, please read just a little much deeper. Realtors are in the industry of promoting homes in good occasions as well as in bad occasions. We are inside a normal housing market, along with a normal property cycle. Heaven isn’t falling. Realtors see past the statistics to what’s happening within the communities that they live and serve. Let a realtor educate you in regards to what is actually happening in Northern Virginia property.