Herndon, VA Real Estate News

By Angela Mitchell
(Long and Foster)
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.
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By Ellen Crawford, Alpharetta Real Estate Agents & Alpharetta REALTOR
(Maximum One Executive REALTORS®)
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...
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By Gregg Holman
(REALTY WORLD MID ATLANTIC)
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...
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By Angela Mitchell
(Long and Foster)
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!
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By Angela Mitchell
(Long and Foster)
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.
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By Lenn Harley, Real Estate Broker - Virginia & Maryland
(Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate)
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...
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