Memorial Day is over (I'm sure you noticed), and for me that has always signified the start of summer. It's the beginning of the quiet news and real estate seasons as well.
Each day I like to check Loudoun blogger/agent Merv Forney's "Northern Virginia Real Estate Guide" for the latest on Fairfax, Loudoun, and Prince William Counties' "market indicators". The box is located at the top middle-column.
It appears as though inventory is, like last summer, outpacing sales. Prince William County has 15 months of inventory.
Those sellers who refuse to "just give it away" will probably withdraw their listings, and those who were barely hanging on will continue to let those properties go into foreclosure.
Oh, and here's an easy-to-remember weather forecast for the coming three months: "Hazy, hot and humid with the chance of an afternoon thunderstorm."
Tuesday, May 29, 2007
Summer Bummer
Posted by Harriet at 8:27 AM
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3 comments:
That is hillarious. Yeah everytime there is slow in sales these realtors come up with something really funny statement. I really wonder what they will come up this month..
Hot and humit ... ha ha ha
I'll start throwing my lowballs again come August or Sept.
By then, anyone left on the Market will hopefully realize they ain't getting 1.1 for that 650 house (what they paid in 2002) in Loudoun Co. - but hey - they can wait till next Spring - surely that will be better!!
NOT!!
I can see it now. "Well, home sales were really off during our normally sizzling summer months because it was unexpectedly a really muggy season. That humidity just sapped all the energy out of the home buyer."
Interestingly, down my way (PWC), I'm not seeing even as many For Sale signs as I did last year this time. But they're pretty much all "Price Reduced" or "I'm Gorgeous Inside".
And those foreclosure numbers are downright scary. 400+ "Active" Foreclosures? Rough estimate of households for the county is ~100,000. Fairfax has about three and a half times as many at 350,000+, but only half the foreclosure number.
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