Knowing the Real Estate Market

People are always surprised when they ask me about a house, and I tell them that I have already been inside.

Realistically, I can’t see every new listing in Fairfax County without making that my full-time job. But, I do make an effort to see as many as possible especially when a home is interesting to me or to one of my clients.

That market research helps me keep up with pricing, floor plans, lot sizes, builder quality and interior condition.

Although this may seem like just another story, recently I received an email from a guy who was moving here with his family and wanted to know what I knew about a specific house in Vienna.

He was surprised to read my quick response since I had toured the home a week or two before, and then gave him an analysis of the location near busy Lawyers Road. It was a nice home with a three-car garage, but it was too close to a road that I feel will be widened over the next ten years encroaching on the property probably negatively impact on future resale value.

He really appreciated my response and hired me.

Having specific knowledge is really important especially when the market is starting to swell with luxury inventory. That’s a trend that might not be obvious to someone looking only at a list like the one below.

“Wait, what did he just say?” you ask.

Yes, the inventory of new custom homes for sale has spiked recently. Some new and resale are just sitting there…

The inventory of homes priced over $1.2 million has been growing at a fast clip. McLean, Falls Church, Vienna, Oakton, Centreville, are all now competing for the same home buyers as our workforce works all across the region.

With that in mind, understanding your future lifestyle is critical before you fall for the sales pitch from the agent at that open house.

Yes, you will miss a good opportunity or two. Or you may not realize that that great school’s boundary is going to change in 2018.

Why are 5 houses for sale over on that street? Is there a problem or are the sellers just cashing in after listening to NPR’s report about the crazy DC real estate market?

Knowing the real estate market or really knowing the real estate market.

It’s your call.

This sample list of homes for sale in Vienna was updated 10 minutes ago!

See all Real estate matching your search.
(all data current as of 10/22/2019)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Share this with a friend...