Buy Alexandria Real Estate: Signs of a Changing Market

Alexandria Virginia Real Estate Blog

Signs of a Changing Market

It's 2009 or at least it is supposed to be.  This week it seems like it could be 2004 at least in my little corner of the real estate world.

Here's a few signs of the changing market that I've experienced this week alone:

  • 2 offers on my townhouse listing in Alexandria.

  • 10 people taking my pre-licensing class -- they want to be REALTORS? (Don't they read the newspapers and listen to t.v. news?  The real estate market is supposed to be horrible, remember...)

  • Put a house on the market yesterday.  Finished entering the listing into the MLS around 11 a.m.   By 2 p.m., 3 agents had visited the property and one called me indicating she'd be writing an offer.  Today I have another agent sending an offer as well.  2 offers in less than 24 hours on the market!

  • In less than 12 hours after I announced it, 35 agents in my brokerage have signed up for a preview tour of an ultra-luxury condomium in Arlington.

  • Yesterday, I attended an economic briefing by Dr. Stephen Fuller, Director for the Center of Regional Analysis at George Mason University.  Following Ben Bernanke's lead, Dr. Fuller declared that the recession is officially over.  He expects home sales and inventory numbers to come roaring back around March of next year.

The real estate market is dead.  Business is slow.

I certainly don't think so.

 

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Comment balloon 9 commentsBrian Block • September 18 2009 11:24AM

Comments

Hi Brian,

Things are heating up on the left coast, too!  Glad you had a great week.  Hope next week's even better!

Posted by Marcy Eastham (Town & Country Realty Corvallis Oregon) over 8 years ago

Well I am seeing the same things Brian!  Multiple offers are all over the place!

Posted by James Downing - Metro DC Houses Team REALTORS®, CRS, GRI, ABR,MRP, MilRes, When Looking to Buy or Sell - Make the Right Move (Real Living | At Home) over 8 years ago

I am anything but slow. I feel as though I missed the entire summer and all the things I usually do because I was working 10 hours a day. But you have to make hay while the sun shines. Glad you had a great week.

Posted by Barb Szabo, CRS, E-pro Realtor, Cleveland Ohio Homes (RE/MAX Trinity Brecksville Ohio) over 8 years ago

I'm glad to hear that things are heating up in your area, Brian.  I  sure hope it heads my way soon - 

Posted by Kate Wheeler, CCIM - Murphy NC Real Estate for Sale (Country Homes and Land Murphy NC Realtor ) over 8 years ago

Hello Brian, good to hear it heating up like 2004.  We've had warm, then cool, then warm again in this Washington.  Thanks!  John

Posted by Alexander- Slocum, Realty Team- Vancouver WA Real Estate (Premiere Property Group, LLC - Vancouver Washington) over 8 years ago

Glad to hear your market is doing well.  With interest rates so low, it only makes sense it would be a good time now.  Hope it continues for you. 

Posted by Brian Griffis (Realty Choice) over 8 years ago

I suspect your sellers are pricing your listings correctly and you have the tools to counter the NEGATIVES in the media and press!!! Good for you!!

Posted by Wallace S. Gibson, CPM, LandlordWhisperer (Gibson Management Group, Ltd.) over 8 years ago

Things are hot in No Virginia in the $350,000 maybe $400,000 and under range. The $8K incentive has worked. IMO the government should offer across the board to all home buyers. The first time buyers are purchasing foreclosure and short sale properties; but there are not enough move-up buyers to support those middle price ranges, $500-$750K, and these sellers are not moving up to $1M+ homes.

Let's hope Fuller is right.

 

Posted by Peggy Duffy (The Bailey Team Real Estate) over 8 years ago

2 offers in less than 24 hours, bet your seller is very pleased!

Posted by Stanton Homes, Design/Build Custom Home Builder in North Carolina (Stanton Homes - New Home Builder, with thousands of floor plans and almost unlimited customization available! ) over 8 years ago

Participate