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Two Real Estate Markets in One

May 21, 2010 By Doug Francis

Northern Virginia home buyers looking to move to Vienna are witnessing an interesting spring real estate market in May. Well, at least I find it interesting because detached homes in the $530,000 range are seeing one market while the $1,000,000 plus range is seeing another.

Nielson's Frozen Custard Shop, Church Street, Vienna VA 22180

Nielson's Frozen Custard on Church Street

Last weekend, a RE/MAX Presidential team colleague put a 1960’s Town of Vienna home on the market at $539,900 and had seven (7) offers! Yes, even without the “home buyer tax rebate program”, people know that living in Vienna is valuable. Obviously the schools are good and commute times are decent, but the unique sense of community is the key with the W&OD Bike Trail, Concerts on The Town Green, The Vienna Farmers’ Market, and Memorial Day Weekend’s Viva Vienna festival!

Maybe it’s Nielson’s Frozen Custard Shop?

On the other hand, people wanting to move to Vienna in the $1,000,000 price range have ninety four (yes, 94) homes for sail sale to look at! And having represented some buyers in this price range recently, I know that there is negotiating room. If you want to talk about the real estate market then send me an e-mail or call me. See some of the stats that I posted recently for a couple of Vienna zip codes on the Vienna Home Blog.

This sharp contrast between the two price ranges is a pattern that I have seen over the past year. Higher-end buyers were impacted by the lack of credit available for loans in the “Super Jumbo” category last year, but mortgage guys that I know (from reputable banks) can now get these loans done up to $2,000,000.

That’s what I love about the real estate business!

When you are going into “battle” against six other real estate offers then you will need one negotiation strategy, and if you are in the higher end market then you will need another. If I didn’t like the competition involved in this business, then I wouldn’t still be doing it after 19 years.

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Filed Under: Blog, Home Buyer Tips, Living Here Tagged With: buyer agent, home buyer, real estate, Town of Vienna, Vienna, Vienna Farmers Market

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 "starred" in a tech commercial for Verisign's "Where the World Clicks" campaign, and was quoted in Money Magazine's Best Places to Live article on Vienna. He's a Boston University graduate who feels morning coffee is non-negotiable.

Being able to guide my clients through many real estate sales, either moving out, moving in, or just across town, has been a rewarding experience that helps when discussing a plan with a future client.

Being able to help them focus and understand our proven sales plan always eases their anxiety of this looming personal task. And, putting it into bite-sized steps always helps them get where they really want to be.

My background… I’ve been an active licensed agent in Virginia for 25 years, work at TTR Sotheby’s International Realty in McLean, and sell homes in all price ranges. I donate to the town tree replacement fund, participate in a neighborhood citizens association, and try my best to stay in shape.

Questions? Email doug@dougfrancis.com or call me at (703) 304-6827 to discuss your plans. Cheers!

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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 elite clientele has been attracted to my results-oriented strategy for years, and I am accepting new clients now.

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

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

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