First, I want to say that I am sorry I am a little late posting this information on the current market. I was not aware that anybody really paid much attention to this blog. Only joking - but I was at a settlement today and Roger and Jill (you know who you are and congrats on your new home) were worried the market might have fallen apart because I had not blogged in 2 weeks. The truth is, I went on vacation and was not aware that people were really interested on what the market was doing and how I interpreted it - especially in the 20171 zip code. Obviously, at least 2 people read this weekly - so now I am back. So much for the naysayers and the Washington Post. The market continues to show strength. For this week, there were 107 total listings, 7 new listings and 7 houses received cont... 07/09/2007

The summer market is here. There were 6 new listings this week in Oak Hill/ Herndon. A total of 3 homes sold this week with a net of 109 single family houses on the market. The number of homes sold for the week is lower than last week and the net is about the same. This happens every year as we approach the end of the school year and the pools are open. You will need an experienced agent to guide you thru this market - if you want to sell - experiance will matter. Sellers will need to home stage their house to get buyers attracted. Those sellers who price their home correctly and look at their home from a buyer's prospective will sell. Summer is here and we will probably just humm along until September. For all those fathers out there, Happy Father's Day and may you get a day of rest! 06/15/2007

The summer market is but a few short weekends away. Time for vacations, schools are out and summer camps are in. The market normally slows thru June, July and August - but we will see. So far so good. There were 111 total listings in 20171 - down 1 from last week - so the inventory had definitely stabilized. There were 7 new listings that came on this week - less than last week and 8 homes received contracts - also, more than last week. Overall, a great first week of June. The market under $500,000 seems to be a bit slow - probably due to the sub-prime loan issues. Today interest rates went up - so we will see what affect that has on our market. Have a great weekend - stay in the shade. 06/08/2007

Another good week in real estate for both the sellers and the buyers. The market has stabilized. This stabilization has been evident since December and has continued through the Spring Market. The Spring Market resembled the markets of 1992 thru 1999 - where we had a pretty fair suppply of buyers and sellers. For the past week, we have a net of 112 single family detached listings in Oak Hill/ Herndon. Of these, 15 were new listings with a total of 7 homes receiving contracts. Not bad for a holiday weekend. We should see a slowing of both new houses coming on the market and houses receiving contracts as the schools let out and pools open. Summer is almost here. 06/01/2007

A good week for sellers! There are a net of 115 single family homes in Herndon/ Oak Hill. A total of 8 new homes came on the market - which is lower than last week. Total homes that received contracts were 12 - a great week. The market is holding its own as we finish the Spring market by the end of June. Prices are relatively stable and look to remain that way - so a great time for buyers to be in the market. If you have any specific questions, just post a comment. Have a great NOVA weekend. 05/19/2007

As we enter into another warm weekend, we have 122 single family homes in the Herndon/Oak Hill area. This is a net increase from 116 last week - so we are still seeing an increase in the number of homes on the market. There were 14 new listings since last Friday. A total of 7 homes got contracts - less than the previous week. So we are still seeing an increase in the inventory - a softening of the market. Again, as it has been all along this year, the well priced homes in great condition are commanding good prices. So if you are planning to come onto the market, have a professional real estate agent help you get it on the market in the right shape. You will be rewarded. The key is to price your home correctly up front. Have a great Mother's Day for those hardworking moms out there. 05/11/2007

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Considering a move to Herndon Virginia or selling a home in Herndon Virginia?  If you are buying or selling a home, condo, town home  or real estate contact us!  We are your Herndon Virginia Realtors and real estate agents!  The national and Herndon real estate market have changed recently.  It is taking longer to sell a home, and yes there are price reductions, but homes are still selling in Herndon Virginia.  It takes more than a sign in the ground to sell a home in Herndon, it takes experience.  You will need an expert to guide you in your quest to buy or sell a home these days.  You'll need the counsel of an experienced and seasoned agent to guide you through the minefields.   Since over 85% of our business is directly Internet related, we can market homes 24/7/365 days a year globa... 04/29/2007

All the media 'gloom and doom' hype overlooks the obvious. While the market is not the strong seller's market that we have experienced over the past 5 years, it is a GREAT MARKET FOR BUYERS! Consider the following: Interest Rates are about where they were in 2000 when the boom began - 30 year lows at that pointBuilders have excess inventory locally and in most other markets which leads to their offering tremendous incentivesExcess inventory in New Construction means existing sales are taking longer, making sellers more open to negotiationThe Flippers are goneFlippers who got caught with inventory are extremely motivated.  Then there is the so-called mortgage meltdown in subprime that has earned its own logo on CNN. Consider the following for buyer with less than perfect credit:More inve... 04/17/2007

The weekend promises ugly weather but, hopefully, the real estate market will Spring into action. We have a a total of 109 single family homes in Oak Hill/Herndon as of today. 22 new listings this week with 8 sales since last Friday. The total number of net listings is up 9 from last Friday. We continue to absorb the market - a tad bit slower each week. If we can get thru next weekend and keep the net increase to a minimum, we should have a fairly stable market. So far, the inventory is up 25% in 3 weeks (75 to 109) - but homes are still selling. The number of new homes entering in the market should start to decrease - which should make for a healthy May and June. If you have any questions on what you are seeing in your neighborhood - just post it. Have a great weekend! 04/13/2007

For the first two weeks of April, the market is slipping a little but still doing well. In Oak Hill/Herndon, there are 100 active listings - up from 78 two weeks ago. 27 new homes came on the market in the last 14 days with 14 homes getting contracts - net increase of 22 homes - this includes those homes that have come off the market for other reasons. This weekend, the 16th, should be a big week for new listings. If the market can absorb this influx, the market should remain relatively stable and be a stable buyers and sellers market. Prices have firmed up for the sellers. Homes in great shape and well priced are selling in a 14 day period. If you have any comments on what you are seeing in your neighborhood, I will be happy to answer or research any questions. 04/12/2007

I love statistics.  Give me a bunch of facts and I'll find a useful statistic.  I just did a custom search for SOLD statistics for Herndon Virginia for homes that settled in March 2007.  As you can see, not only are SOLD prices now lower than the Original List price, the subsidies are significantly more numerous and higher than last year or the year before.  The SOLD facts below represent a town in Fairfax County.  Herndon is a wonderful little town that is located on the outer edge of the county near Loudoun County, so prices in Herndon are lower than the average for Fairfax County.  However, since Herndon is also located on the Dulles Toll Road, it is an easy commute to the Beltway and points north.  The statistics published by our MLS do not make an adjustment for subsidies.  So, the... 04/09/2007