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Old 06-08-2011, 02:47 PM
 
Location: Virginia
18,717 posts, read 13,861,809 times
Reputation: 42288
FWIW my neighbor's house sold in two weeks.
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Old 06-08-2011, 03:36 PM
 
Location: Chapel Hill, NC (formerly Vienna, VA)
5,646 posts, read 5,456,603 times
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Yeah, I don't think houses around here are selling at 2003 prices. Gosh, if my house were worth only $380K today as it was in 2003, it would be snapped up in a NY, er Northern Virginia, minute. While I don't think it would command a 2007 price, it would probably get not even 10% less than its all-time high from that time period and would probably sell super fast even at that price.
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Old 06-08-2011, 03:40 PM
 
186 posts, read 248,084 times
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My house sold in 22 days with 3 offers
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Old 06-08-2011, 07:04 PM
 
Location: Richmond, VA
2,240 posts, read 6,652,794 times
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Last June my home sold in 2 days and we had 2 offers. The key factor to this was pricing it right, condition, and the right agent. (I worked for a very good real estate team in Loudoun County so I had some great help!) Make the fixes and get prepared so when you DO put your home on the market, you won't be wasting time doing the fixes THEN. I would suggest if you haven't found a great Realtor yet, find one and have them guide you with the changes. There is a fine line between making neccessary fixes and going overboard.
As for timing the market...people need/want to buy homes all 12 months of the year, but your biggest buyer base is typically spring summer...many want to be settled by the time school starts.
Good luck!
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Old 06-08-2011, 08:07 PM
 
371 posts, read 398,306 times
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Quote:
Originally Posted by michgc View Post
Yeah, I don't think houses around here are selling at 2003 prices.
Just sold mine for 2003 price. Too bad I bought in 2004....

Definitely taking a major hit on this one. Ah well, such is life.
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Old 06-08-2011, 08:16 PM
 
2,879 posts, read 3,753,775 times
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Quote:
Originally Posted by michgc View Post
Yeah, I don't think houses around here are selling at 2003 prices. Gosh, if my house were worth only $380K today as it was in 2003, it would be snapped up in a NY, er Northern Virginia, minute. While I don't think it would command a 2007 price, it would probably get not even 10% less than its all-time high from that time period and would probably sell super fast even at that price.
Vienna is one of the needles in a haystack, along with North Arlington. Let's hear from some people that have bought in PWC in the last decade......
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Old 06-08-2011, 08:24 PM
 
262 posts, read 431,802 times
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Yes, I would argue just like economic recovery, there are really two different groups:

Those that already have a lot of wealth and stock market investments, it is great time in housing market and in general (basically it's Happy Days again)

For everyone else, it still feels like The Great Recession.
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Old 06-09-2011, 05:04 AM
 
Location: Virginia
18,717 posts, read 13,861,809 times
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Quote:
Originally Posted by khuntrevor View Post
Vienna is one of the needles in a haystack, along with North Arlington.

LOL the thing is... in Nova almost the entire area is needles in the haystack. That house I was talking about is nowhere near Vienna or Arlington. We have been very lucky not to have the housing distress experienced by a lot of other US cities. It's horrible what you guys out in Arizona are going through. BTW, I'm glad to hear from you and hope those fires aren't anywhere near you. Stay safe with all the smoke today, and hopefully most of them will be put out soon.

Last edited by Caladium; 06-09-2011 at 05:16 AM..
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Old 06-09-2011, 08:15 AM
 
1,129 posts, read 764,306 times
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Quote:
Originally Posted by khuntrevor View Post
I think it will/has been revealed that this years Spring selling season has been a complete bust.
From my experience it's been a bust for buyers, at least in the desirable areas inside the beltway. With inventory being so low competition on available homes has been high driving up prices. With all the doom & gloom talk the market should've been ripe for some fantastic deals.

That article you posted cited national housing figures, which are completely irrelevant to metro DC area.
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Old 06-09-2011, 12:14 PM
 
2,879 posts, read 3,753,775 times
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Quote:
Originally Posted by Caladium View Post
LOL the thing is... in Nova almost the entire area is needles in the haystack. That house I was talking about is nowhere near Vienna or Arlington. We have been very lucky not to have the housing distress experienced by a lot of other US cities. It's horrible what you guys out in Arizona are going through. BTW, I'm glad to hear from you and hope those fires aren't anywhere near you. Stay safe with all the smoke today, and hopefully most of them will be put out soon.
Thanks for your concern. No casualties. Most folks don't realize that there are huge forests in AZ. It wasn't a good idea for the Forest Service to lift the ban on campfires for Memorial Day. Endangered power lines running from the Nuke Plant to El Paso Electric could have implications for the Country, as they supply power to an oil refinery. In reality, the economic crisis has had a much more devastating effect on this State. The realtors like to talk about the competition and bidding on homes, here. But, that is when they are listed at 75% off. The Canadians have been very active, and some Australians and Chinese, too. Las Vegas is in far worse shape, and people are starting to see the emergence of modern day ghost towns.
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