I am more than
certain that majority of people have heard a million times the famous phrase.
Well, it is so famous because it is absolutely true. I decided to write this
real estate article to clarify to home buyers and sellers the current market
conditions in Alexandria VA and to end up the speculations that go on around
the media about foreclosure shadow inventory, decline in home prices and
values.
It is fairly true to confess that the
housing market has not stabilized yet. There are certainly a number of homes
with delinquent mortgages and many of them in foreclosure process. These are to
hit the market in the near future.
After this is said I would like to explain and
clarify why real estate is strictly local and to prove with facts and numbers
why our local Alexandria real estate market is different than the general
picture.
Alexandria Virginia as a part of Washington DC
Metro Area is very solid area to live in, with very minimal rate of
unemployment and one of the best areas statistically based on income to
affordability ratio. Based on this fact, home owners in default are much less
than any other territories in the country. And even though there are properties
in foreclosure, the banks do not dump them at once, which is a reason to
believe that Alexandria home prices will stay unaffected.
The point that I want to make is that next time
when you hear on the news about foreclosures hitting the market, when the media
tries to scare you off with statements of home declining values and large
number of shadow inventory, please remind yourselves that every real estate
market is local. Ask a Realtor, who is knowledgeable enough, to provide you
with current market
data and highlight
the local housing trend.
For those that are interested in purchasing bank
owned properties, I have prepared a list of discounted, under market value,
homes for sale in Alexandria VA.
If you are a home owner who is behind on his
mortgage, please visit http://bestplaceforrealestate.com
and you will find great and useful information how you can save your home and
what steps you need to take.
I really hope that this article provides value to
all current, potential and future Alexandria home buyers and sellers. Please
come back again for more, the blog is being frequently updated!
Also feel free to leave a comment with any opinion
you might have related to the topic. We would love to hear from you!
Alex Pachedzhiev with Realty USA has earned the nationally recognized Short Sales and Foreclosure Resource Certification. Alex is a specialist in representing first-time home buyers and buyers pursuing bank owned properties (REO deals). www.bestplaceforrealestate.com
