Realestate Buyers need to Hold the line

[LynchburgLover]

Originally Posted by tigger37708

Great Job NOVA Buyers!!!
Way to hold the line.
Even with the diminished inventory available you have held prices down to mid winter level.
I admit I was expecting there to be more new inventory to look at by now.
but I guess the sellers have a similar thread going on somewhere.
probably goes something like this
"Sellers hold the line!! Don't list you homes until the buyers cave and start offering more money.
I Don't see how they can realistically expect that to happen with all the short sales and foreclosures out there.

Anyway

I did finally get a home and am pleased by the price I paid.

So if I were to be selfish I would now signal the market that it was OK to resume a modest and sustained escalation of home prices.

However I feel that there are other buyers out there still looking for reasonably priced homes.

So I will issue a final "Buyers Hold the line!"
and good luck to you all in finding the home of your dreams at a sane modest price.

Congratulations on finding your house!! Hopefully, many more buyers will jump in and get this market going!

[Hazel B.]

Individual influences aside, the housing market in our neighborhood seems to be strongly influenced by the school calendar. When we moved into this area we did lots of driving around in advance, but, as recommended by our realtor, we didn't truly start our serious looking until after the first of April. Assuming roughly 60 days to close, most families looking in family oriented neighborhoods aren't going to list their homes or go looking for homes much earlier. Spring break is a big time for out of town house hunters, especially in the military community. Fairfax County Schools get out around the 20th of June, so most families with children typically move during a two month window between end of June and end of August. We started looking in April and by the end of April had a signed contract with an end of June closing date. I expect to see lots more signs in a month or so and plenty of moving trucks come end of June, July, and the beginning of August.