Northern Virginia Housing: Where are we now?

I was going to begin by saying that even in our insulated market, pills it has been a tumultuous time in real estate, pharmacy but the qualifier is likely unnecessary. Most people don’t care if we have been insulated because the losses still sting. So let me restart by saying plainly, it has been a tumultuous time in real estate in DC and Northern Virginia.

So where are we now? The above is not news. In fact, the above is tired, it’s old, and it’s overplayed. The market tanked, even here (for the most part), we know that. So, we ask is it done? Are we on the way up? Are the government programs working? Should I be in a government program? Should I walk away? Should I move to Canada?

In reality that paragraph sums up where we are from a national and a local standpoint. More questions than answers. New legislation and buzz about potential legislation almost every day. Interest rates are up. Interest rates are down. Interest rates are up and will never go down again. Interest rates are down again. We are heading for a double dip. Prices are on the way up. Prices are still on the way down. Houses are selling like hot cakes. Nothing is selling anymore. And this list goes on of the bits of “insight” you may hear on a daily basis, or all in one day for that matter.

That, my friends, seems to be where we are in a nutshell. Helpful? Not likely.

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