SALES AT WEST FALLS CHURCH METRO

SALES AT WEST FALLS CHURCH METRO - TO BE EXACT WITHIN 0.5 mile radius:
Not too many properties at walking distance to the metro are on the market today. You can find a 4 BR 4 1/2 BA detached house for just under 900k and 3 BR 2 1/2 BA cape cod built in 1945 for 600k. There are also 3 condo units (2 in Gates of Westfalls (2 BR 2 1/2BA for 525K and 2 BR 1 BA for 350k)) and one unit (2 BR 2 BA in the Pavilion).
Only one property is under contract. Two have been sold since January 1 - with 10 and 17 days on the market respectively.
This is just another proof of the weirdness of this market. It is still dormant. Very few properties come to the market. But if a property is priced right, is in sought-after location and in good condition, there are 5-6 offers within a couple of days. Most of the listings go under contract within the first 7 - 10 days and settle in about 30 days.
Of course, you should be ready: get preapproved before you start your serious search and be ready to act once you see something you really like.
Good luck!

Recession is Over?

The deep recession that's gripped the U.S. economy by the throat since December 2007 is "very likely over at this point," Federal Reserve Chairman Ben Bernanke recently said. However, there is no way the economic recovery will show any significant pace in the coming months.

Speaking about the housing market, the Administration's tax incentive for first-time buyers is helping to boost sales, especially those of properties under $300k. Besides, many people have already calculated that in that price range it makes more sense to buy than to rent. As a result, we see multiple offers on properties in the first couple of days. Looks like people are in a rush to buy. Anything sells at this time - as long as it appraises...

So if you are prepared to lose $400-600 on an appraisal if the appraised value is less than the contract price and consequently you option to walk out of the contract, then go for it. Keep writing offers until you get a ratified contract. Hopefully, you will get it to settlement table. My advice is get preapproved before you start looking. It will save everybody time and ...mileage. Speaking about mileage, no doubt homes by a metro station sell much faster. Keep track of new listings every day. Need help? Call or email. You still have time to use the $8k tax refund.

Good luck!

Steps to Huntington metro

In the radius of 0.3 miles from Huntington metro station in Alexandria there are 19 properties for sale. The cheapest is 85k (1 bedroom condo - short sale) and the most expensive one - a townhouse listed at 530k. Some of them are foreclosures in good condition. And all of them are walking distance to the metro.
If you are thinking about renting, this link might help you. http://matrix.mris.com/Matrix/Public/Email.aspx?ID=30846957480
Midtown at Alexandria has a few available units. Sometimes you can even come across a furnished unit for rent there. Convenient location, ample parking, all kinds of amenities. Need to view any? Just email me.

Metro Tweets!

Metro has expanded its use of social networking tools with a new Twitter page where riders can sign up to get information about Metrorail service disruptions.