What Has the Snow Done to the Real Estate Market?

Dear Nalls Home Partners Clients, Friends and Family:

Well, I know everyone is sick of the snow. Sick of shoveling it, wading through it, cleaning up after it - even sick of taking adorable pictures of their dogs and children playing in it. Certainly sick of talking about it so I'm sorry to bring it up, but it IS this month's Washington Area real estate news.

First of all, it is real estate news because it is just wreaking havoc on our homes. When some 80,000 of us lost power, pipes froze and burst all over town. Then came the ice dams and we all went from zero to sixty on our working knowledge of snow melt cycles on roofing systems in no time and comparison of shingle types and gutter companies has became the topic of the season. Next we can expect basement flooding from snow melt and choked drains. And goodness only knows what all of our landscaping looks like underneath all that ice and snow. We will be a long time digging out of this one.

If you need a referral for a good roofer, drywall contractor, plumber, electrician, landscaper or handyman - we are just a phone call away and glad to help! 240 497 1900 begin_of_the_skype_highlighting 240 497 1900 end_of_the_skype_highlighting or check our website www.NallsHome.com

As for our business, the snow brought what was looking like one of the earliest, busiest Spring market's we had ever seen to a grinding hault. As soon as the holidays were over, what little inventory was out there was getting snatched up all over the metro area. Houses in nearly every price range that had been sitting - in some cases for months or even years - were suddenly under contract. Tales of multiple offers on listings - ten, twenty contracts - were the talk of every real estate office. Even a rumor of new listings created excitement.

Until 4 feet of snow fell down on our heads. Now it's hard to say just what the spring market will hold. Some agents worry that the buyer's will have lost momentum after they get back out there. I tend to doubt it and think this Spring Market will be everything it was shaping up to be before the storms and more. All the drivers are still in place: low interest rates, pent up demand and the government tax incentives. What's more, many folks who were sitting on the fence about downsizing undoubtedly got the push they were looking for when they had to shovel all that snow. And I'm sure there are lot's of people that came to the conclusion that their houses were too small after spending a week shut in with their kids, their kids friends and whatever other extended family happened to be there before the roads closed.

It's going to be a heck of a Spring - but it can't come too soon!

All the best -

Barbara, Tom, Susan, Harrison and Ron

Long and Foster Real Estate, Inc



PS. Last week, I was lucky enough to attend, despite the snow, a fund raising luncheon for CHOICES, the Page County Council on Domestic Violence (a really, really good cause - if you are interested their website is Choices of Page County), which was generously hosted by Inn keepers Tom and Anita Potts at their gorgeous B&B, South Court Inn in Luray Virginia. The food was absolutely decadent and the house was just gorgeous tucked away in perfect spot to enjoy the beautiful Shenandoah Valley and Shenandoah National Park. A picture's worth a thousand words so I'll let their website do the rest www.SouthCourtInn.com .