by Karen Briscoe
December 4, 2013
DEAR EDITOR: I am a seller of a home in Northern Virginia. Some of my friends say that this is not a good market to sell real estate. Others say, “If you see it in the HBC Realty Group articles, you can believe it.” Please tell me the truth; is this a good time to be in the market?
Yes, Virginia, this is a great time to be in the market in Northern Virginia. Virginia, your friends are wrong. They have been affected by the skepticism of a skeptical age. The S&P/Case-Shiller Home Price Index for third quarter 2013 shows prices up 7% over the previous year in the Washington, DC metro area (http://us.spindices.com/index-family/real-estate/sp-case-shiller). In many sub-markets prices are back to peak levels and in others they are on a trajectory back to peak levels.
The Washington, D.C.-Arlington-Alexandria, Va. metro area is in the top 25 metro areas in the country for finding a job according to Forbes staff author Jacqueline Smith. http://www.forbes.com/pictures/efkk45fdigf/washington-d-c-4/ “Washington, D.C. and Arlington both have a large population of degreed individuals which matches the skill sets that are seeing the most demand right now; business and professional services, engineering and healthcare,” says Bob Kovalsky, a senior vice president of Adecco Staffing. “Additionally, the proximity to Washington, D.C. means a large number of organizations have local ties or offices in the area, regardless of industry.”
Statistics show that the federal government expands, not contracts. Yes the Northern Virginia real estate market is a great market to be a Seller of real estate in because the Federal government exists and all the related industries that support it.
Interest rates remain at historically low levels which are projected to stay low through 2014. One can interpret statistics anyway you want, but it’s how they affect you personally that matters. And I’m here to tell you that close in Northern Virginia, good houses that are priced right are selling in many market segments.
Ah, Virginia, in all this world there is nothing else more real and more abiding than “real estate” in this area.
Karen Briscoe and Lizzy Conroy are active and experienced Realtors® in the Northern Virginia, Washington DC and Maryland market place and would be delighted to assist whether for home buying or selling. Please contact via the means most convenient for you: www.HBCRealtyGroup.com, 703-734-0192, Homes@HBCRealtyGroup.com.