Recollections of the 2008 economic recession and the mortgage crisis that followed are fresh in the minds of many of the older Millennial and Gen-X homeowners burned by the housing market in the past. As buyers compete in multiple offer situations and pay well-above asking price for that new home—whether as first-time homebuyers or as move-up buyers—many are wondering whether the housing market is due for a correction. Read the rest of the article below…..
Here are some examples of recent home sales in our area:
5553 Macduff Court, Fairfax VA 22032 – Listed for $399,900 – Sold for $435,000
12024 Sugarland Valley, Herndon, VA 20170 – Listed for $730,000 – Sold for $760,000
1304 Grant Street, Herndon, VA 20170 – Listed for $620,000 – Sold for $708,777.00
There are a ton more stories like this of buyers who are waiving all common sense in their home purchases. The buyers who chose not to waive the contingencies will unfortunately not get a property in this market.
Read the rest of the story here: https://tinyurl.com/3m7eckpz
And don’t forget to send us your friends and family that are considering buying or selling a home. Want to consider 2nd home options, give me a call! We are licensed in Outer Banks NC now!
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