DC Metro Area - Prices are Near or At the Bottom Says GMU Economist

Listen to this story on WTOPNews.com outlining the Washington DC area's buyer's market. He says we are near or at the bottom. In particular, he touches on Prince William County which has seen the biggest turn around. PRices are down 41% but sales are up 200% from last year. Prices are now more affordable for investors & home buyers. New home foreclosures in Prince William are at 1/2 of what they were in 2008 -- signalling this could be the end of the sliding prices.

Listen here - scroll down to "Buyer's Market in Housing" John McClain, George Mason University

Good news for the buyers out there & for the sellers, who should be able to hold onto the equity that they have in their homes now.

Jodi Spelbring
Jodi@JodiSellsVA.com
703-625-4667
www.YourNextVAHome.com

Fairfax County Real Estate Statistics

According to our MLS data (MRIS), the following data was recorded for Fairfax County homes for December of 2008.

2008 2007 % Change

Total Sold Dollar Volume: $ 463,887,046 $ 454,787,544 2.00 %
Average Sold Price: $ 403,380 $ 540,128 - 25.32 %
Median Sold Price: $ 320,000 $ 430,000 - 25.58 %
Total Units Sold: 1,150 842 36.58 %
Average Days on Market: 96 112 - 14.29 %
AvG. List Price for Solds: $ 444,292 $ 595,870 - 25.44 %
Avg Sale Price as a
percentage of Avg List Price: 90.79 % 90.65 %


I thought this was good data to publish as it's a great indicator of the overall market. Sales prices have decreased by 25% since December of 2007 and buyers are recognizing the good values out there thereby increasing our total units sold for 2008 by 36%! This is indeed a great time to buy a home. More and more investors are starting to come out and play again. The numbers are finally starting to make sense.

Vicky Noufal
703-402-5416

Multiple Offers Making a Comeback : HGTV FrontDoor Real Estate

Check out this article on multiple offers making a comeback! No, I'm not kidding with you. It's true and it can be hard work to find the one. It's also an exciting and exhilirating process to go through. Everyone can recognize a good value and for the good properties that come out there, it's a very hot market. There are some wonderful opportunties out there to purchase homes under market value and at exceptionally good interest rates. If you would like more information on these properties, please give me a call. Let the good times roll!

Vicky Noufal
703-402-5416

Multiple Offers Making a Comeback : HGTV FrontDoor Real Estate

5 Top Blunders in Internet Home Buying

I came across this article in US News & World Report and thought it might be of interest. Today's buyers utilize the internet for a lot of their research. Of course it is a great tool, but there is a reason why Realtors are licensed and trained to assist their clients in home selection and purchase. Take a read and make sure you aren't caught by one of these mistakes.

http://www.usnews.com/articles/business/real-estate/2009/01/07/5-top-blunders-of-internet-home-buying.html

To learn more about the home buying process, check out our buyer's guide on our brand new website -- you can also search the MLS for free - no registration required.

http://www.yournextvahome.com/buying-with-us-c12105.html

Happy reading on this cold winter morning.

Jodi Spelbring
703-625-4667

The Perfect Cure for Cabin Fever!

One of the best kept secrets of Loudoun County is the abundance of nature trails and county owned conservation areas.

I have lived in Leesburg for 5 years and have seen the growth of the county take place right around my home. In order to succeed in my line of work, I have made it a point to keep with the new and upcoming development. One thing that I have overlooked the past few years, is the accessablility and beauty of all of the nature preserves and conservation areas in all of Northern Virginia.

Toward the end of the winter break ... (15 day long holiday!!)... I started going stir crazy! In a spontaneous manner, which I often do, I said to my husband and kids , "Get ready, we're going on a hike!" (Their Response-"YAHOO!!! " )

Within 10 minutes, we were in the mini-van... jackets, scarves, mittens and hiking boots on... pulling into the parking lot of a historic park ---literally in our back yard---ready to begin our adventure!!!!

We went to the Red Rock Wilderness Overlook Regional Park http://www.nvrpa.org/parks/redrock/index.php. Let's be clear, I have 3 children between the ages of 4 and 6, so I was not looking for an intense adventure. The trails at this park were just enough to get our adrenalin going and hearts pumping.

There were several paths to choose from with varied terrain and distance options. We chose the Yellow trail...perfect for my group. The trails were in great condition... easy to navigate and clear from debris, yet still maintaining it's natural setting. My kids loved breathing the fresh air, and actually commented on the clean air that they were breathing! Woah..Al Gore would be proud!

After a manageable amount of time, we came to a cross trail. While pondering which way to go next, I looked up and saw a breathtaking view of the Potomac River...( I guess this is why they call the park "Overlook"! ) We decided to head toward the river.

To get there, we had to repel (on a 6-10 year old level,of course) down the cliff to get to the edge of the river. That was a blast and the scenic moutains behind the river were beautiful!

After throwing stones and looking for fish along the coast line (remember, 4 years old!) we decided to head back on a different path.

We made it back up the hills and through the woods just in time for sunset!

It was defininelty the best cure for our cabin fever!

Northern Virginia Regional Park Authority has wonderful, family friendly places to visit and things to do throughout all six of it's jurisdictions: City of Alexandria, City of Fairfax, City of Falls Church, Arlington County, Fairfax County and Loudoun County.


You must visit the website and look at all there is to do.... http://www.nvpra.org .... Canoeing, camping, golfing, water parks, nature trails, nature centers, farms, historic sites and tours and so much more!!! Best of all, many are free!!

I can't wait to explore more!

Here is the next event I saw on their calendar.. Check it out and let me know you thoughts!

• Jan. 11 2009 Meadowlark Botanical Gardens"Tour of Meadowlark's Greenhouses"2:00 p.m.

Here's to finding adventures in our own back yard!!

Carmelle Shea