Northern Virginia Home Prices are on the Rise!
If you were to turn on any CNN or any other news channel for that matter, at some point during the broadcast you would hear a story or five about mortgage rates, home prices, foreclosures, and the dreary Real Estate Market that the United States is facing. Unfortunately for a large majority of the country this sad fact is true. There are literally hundreds of thousands of foreclosures, a plethora of depressed markets, and billions lost in falling home prices.If you are thinking of moving and purchasing a home in a new area there are very few that can compare to the Real Estate Market in Northern Virginia. Of course you have the well known areas like Falls Church, Alexandria, Fairfax and Arlington that come to mind, but what about Springfield, Woodbridge, Dumfries, Manassas, Herndon, and Reston? The suburban communities that feed into the DC Metro Area area comprised of many different markets, cultures, lifestyles, and communities. Even the higher echelon areas like Mclean, Fairfax Station, Burke, and Great Falls are part of the vast Northern Virginia Real Estate Market.
I came across some information that residents in those areas mentioned above, and all of Northern Virginia will be happy to know. This article from the Washington Post details how the Washington DC and Northern Virginia area were one of only 4 Metro centers across the United States to have positive growth in the Home Pricing Index. Fairfax County itself had an overall increase of 8% and Prince William County (Woodbridge, Manassas, Dumfries, Stafford, Lorton, Triangle) have experienced a 20% increase in prices after being hit pretty hard in years past.
Many speculate that Defense Contracting Firms like Lockheed Martin, Boeing, Northrop Grumman, Raytheon, SAIC, and General Dynamics will be cutting jobs in the future due to Obama's staunch opposition of increasing Department of Defense budgets, but with 40,000-50,000 jobs in non-related industries being added every year it most likely will not have a large impact. The area already boasts almost 3,000,000 jobs and it's expected to grow in coming years.
If you already live in the DC Metro or Northern Virginia markets and haven't yet purchased a home yet, now is the time to invest in yourself and your family. In a previous blog article titled "The DC Area is a Smart Investment!", I provided information that showed the area increasing in value 37% over the last 20 years. Visit the foremost Northern Virginia Real Estate website to search for homes in your price range and take advantage of the current market!!
It's only going to get better from here!
Braden Halter
EXIT Advantage Realty
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