Leaves are falling and so is our inventory of homes for sale in Northern Virginia. It is typical that homeowners who don’t need to sell or don’t have to sell take their homes off the market this time of year. Along with the falling leaves and inventory, house sales are also falling – again, typical for this time of year. Many potential home buyers take a break over the holiday in anticipation of the spring market.
All this being said, there are sales happening in the marketplace. Year over year sales are up in Northern Virginia as are sales prices making our housing market healthy. If you have a situation which causes you to sell, now is a good time to do so. With lower inventory levels and serious buyers in the market you can set your house apart from the competition to attract a sale. Couple this with mortgage interest rates remaining low adds to the allure of home ownership right now.
On an interesting note, the SEC passed a ruling – Title III – which will allow retail investors to have access to invest in private businesses without that company having to register with the SEC. This could have an impact on real estate as Equity Crowdfunding is a $2.5 Billion market. These are groups that are forming to purchase properties and rent them out or fix and flip them. This ruling goes into effect in 90 days and it won’t transform real estate overnight but it is something for us to keep an eye on moving forward. To learn more about this, please feel free to call me.
Oh, and we cannot forget, it is that time of year again, when the holiday season comes into full swing! We have Thanksgiving right around the corner followed by Christmas and New Year’s Day – lots of time to spend with family and friends. We wish you a happy time and hope you have a great holiday season. And always remember, if you have any questions or concerns about real estate, I am here to help!
It’s a good life.
Chris
