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Skimming the bottom in home prices?

March 17, 2009 By Doug Francis

economyHeard any good economic news today? But wait, the Dow and Nasdaq have jumped up, and it is exciting to watch CNBC’s Erin Burnett discuss stocks on the floor of the exchange again. But then the truth hits again when you see that your retirement plan is still down 46% from a year and a half ago.

Head down, blinders on!

Okay, imagine that you are 27, healthy, and have a good job working for an internet security company that has government and private sector business. Actually, too much business since they hired three new people last month. And they know that your skills are in demand and recently gave you a little bonus.

Sound like you? Maybe not, but please know that there are plenty of them out there in the Washington D.C. suburbs.

This group is looking at the best “buyer’s market” in 20 years!

Rates are around 5% fixed for 30-years, there is plenty of inventory to see and to compare, and most sellers are willing to negotiate. Understand dear reader, the market is crossing an important threshold that may be missed. Are we skimming along a local bottom?

One of my listings recently had a full-priced offer within 48 hours, an open-house with 24 groups passing through, 18 agents with clients showing it in four days, and 4 agents asking me to call them if the offer fell out (no one wanted to start a bidding war). It was a real estate buyer stampede in March 2009 on a hot town-home.

Understand that watching The Nightly News can often give us tunnel vision. Yes, it takes a strategy to be successful in real estate, but real estate agents get to see a key ground-floor view of the economy and, in my humble opinion, the tide is turning as the cherry blossoms arrive.

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Filed Under: Blog Tagged With: bottom, buyer's market, real estate

About Doug Francis

A Realtor specializing in unique and new homes around Vienna, Virginia, Doug started writing a first-hand blog about his everyday real estate experiences a decade ago. In-depth, helpful and fun has always been the objective. Outside real estate, he was profiled in a commercial for Verisign's "Where the World Clicks" global ad campaign, and was quoted in Money Magazine's Best Places to Live article on Vienna (#3!). He's a Boston University graduate who feels morning coffee is non-negotiable.

Vienna real estate agent Doug Francis

When we bought our house, we were thinking about raising the kids, updating, and building an addition. With our kids now out of college, our plans are looking at our next phase, especially after seeing friends move away and adjust their lifestyles.

So, what’s next after 25 years? It’s a conversation lots of my clients are having with me as they plan to move to the beach, travel, or move closer to grandkids. Helping them see their future, sell their current home, and move ahead to their new plan has been an interesting new chapter.

My background… I am an active licensed agent in Virginia, work at TTR Sotheby’s International Realty in McLean, and sell homes in all price ranges. I donate to the Town of Vienna tree replacement fund, participate in a neighborhood citizens association, and try my best to stay in shape.

Let me help you too: Email doug@dougfrancis.com or call me at (703) 304-6827 to discuss your plans. Cheers!

Filmed in Vienna and McLean

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6808 BROYHILL ST
MCLEAN, VA
Photo of 6808 BROYHILL ST, MCLEAN, VA 22101 (MLS # VAFX2137956)
$2,499,000
49
  • Lot Size
    16,989 sqft

  • Home Size
    6,708 sqft

  • Beds
    6 Beds

  • Baths
    7 Baths

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Home sellers are often caught off guard when I explain that today’s home buyers will decide on their house before ever stepping foot in it. The days of spending hours driving around looking at seven, eight, or nine houses on a sunny Saturday are over. Yes, meeting at 9:00 a.m. to review the available listings […]

“Doug nailed it! Within days, we had three offers, one of which not only met, but far exceeded all of our goals.”
– R. Pollard

“He truly was a partner integrating us unto the community and made it easy for us to take advantage of all Vienna has to offer.”
– A. D’Eredita

“We are so thankful we found Doug to guide us through the complex home selling and buying processes!”
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About Doug Francis

I am a Realtor with TTR Sotheby's International Realty® just outside Washington D.C. in Northern Virginia. I have been a full-time Realtor licensed in Virginia since 1991, and cover a big territory specializing in the Vienna real estate market and custom homes for sale.

I have unique knowledge of digital real estate marketing, and my marketing starts here. My clients have been attracted to my results-oriented strategy for years, and I am accepting new clients for Fall 2023 right now.

Thanks for reading, and feel free to contact me at 703-304-6827 or email me at doug@dougfrancis.com anytime!

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Doug: (703) 304-6827

TTR Sotheby's International Realty
6723 Whittier Avenue McLean, VA 22101

Office: 703-319-3344
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