Tanya Spotts Loudoun County Real Estate, Blogger

One of the things I often hear from people I meet is that real estate and mortgage professionals should have seen the current housing crisis coming and done something to prevent it. We should have realized that easing lending practices would lead to millions of families buying a home they could never afford. We should have warned our neighbors not to use their homes as ATMs. We should have realized that the economy could never withstand such growth and was about to crash.

Maybe these people are correct. Looking back, perhaps we could have been better stewards of the home buying process. We are committed to not making that same mistake again. Keep in mind, Real Estate is a great investment, it was never meant to be short term.

Fear

13,780 Homes Sold Yesterday
To all those who have declared the real estate market dead, we want you to know that over 13,780 houses sold yesterday, 13,780 will sell today and 13,780 will sell tomorrow.

That is the average number of homes that sell each and every day in this country according to the National Association of Realtors’ (NAR) latest Existing Home Sales Report. NAR reported that sales had increased 7.7% over the month before and 18.6% over the year before. According to the report, annualized sales now stand at 5.03 million. Divide that number by 365 (days in a year) and we can see that, on average, well over 13,000 homes sell every day.

We realize that these numbers are below the record for homes sold in 2006. We also know that we may never see those numbers again (and that is probably a good thing). But to say that the current real estate market is dead or that houses are not selling is totally inaccurate. We have over 13,000 pieces of evidence to prove that.

I’d like to share a few visuals to help you with understanding where we are today.

What you can expect to see

Let’s look at the return on an investment in real estate verses other investments, none of which you can enjoy and use unless it is a home!

Also, keep in mind interests rates are around 4%. What happens if they go up ( and we know they will, it is just a matter of time.)
Today, the prices homes have fallen nationally to a level of 2003 home prices.

Here in Northern Virginia, home prices have stabilized and have even gone up in most areas.

Sales Price in 2003 vs. Now

Rents have gone up and will continue to do so!

Rent or Own?

Do you agree with the majority of folks who still think home ownership is a great investment?

John Scully wrote, "The future belongs to those who see possibilities before they become obvious."

That is how Rugers de Vink must have thought when he saw the countryside and foothills at Delaplane, Virginia. After my visit and tour of RVD Vineyards, I realize we all must keep our dreams alive and not underestimate their power.

"McDonald's founder, Ray Kroc, pictured his empire long before it existed, and he saw how to get there. He invented the company motto — 'Quality, service, cleanliness and value' — and kept repeating it to employees for the rest of his life!"

A few friends and I thought the Labor Day weekend should be spent tasting some good wine. We decided to head to Delaplane to visit a not so well-known vineyard. We never imagined the tour would be the highlight of our weekend.

Don't miss my Youtube Video at RDV Vineyards. When you decide to take a tour at RDV, please say hello to Alexandra.

She will be returning to France after spending several months here as an intern. Why, you might ask would someone come to Virignia when they have some of the most outstanding vineyards in all the world at their front door? I will let her tell you her reasons. Please enjoy the Video and let me know what you think of this vineyard.

Rdv Vineyards began with the vision of Rutger de Vink in Bordeaux and culminated in the foothills of Virginia. Glimpse inside of this soon to be great vineyard, make your way out to Delaplane, and taste the sensational wine here at Rdv. Our tour ended with a tasting of Friends and Family; however most of us purchased Rdv or Rendezvous .

Feel free to look around on MY YOUTUBE Channel. I love feedback!

I love The Patch, their reporting and stores are perfect for someone like me who needs information fast. Check out Leesburg Patch, Ashburn Patch, Herndon Patch, and Reston Patch, and Chantilly Patch just for starters.

I found this tidbit of information there and something I felt I needed to be shared. Business seems to be booming and our local real estate market has less than 4 months of inventory. Buyers in certain price-ranges are feeling a little frustrated since they are up against multiple contracts and not in a great position to bargain. My listngs have sold on average in less than 27 days so my sellers are extremely pleased to be able to move on with their lives.

As Long & Foster's Relocation Specialist, I find many folks moving here from out- of-state. sticker shock does occur and the fact that our market is not like their home town makes them a little on edge when they first arrive and begin looking. Our rental market is even worse, no inventory there, either!

LEESBURG PATCH posted this article recently, very promising!!!

"Towns include: Leesburg
Job growth (2000-2010): 75.3%

With one of the nation's highest concentrations of high-tech firms, Loudoun County has been dubbed the "Silicon Valley of the East." Anchoring one end of the Dulles Technology Corridor, the area is home to marquee names like Verizon Business, AOL and Verisign.

The region was once little more than farmland and bedroom communities for D.C.-area professionals. Now it's home to more than 9,000 firms employing more than 130,000 people, and business continues to grow. Chalk that expansion up to a decades-long effort by local leaders to beef up infrastructure. Its proximity to the nation's capital, the Pentagon and Dulles International Airport doesn't hurt either.

You don't have to work in government or high tech to find new opportunities here. Mil-Tek, a company in the recycling industry, recently moved its headquarters to the area, and is expected to bring in 200 jobs. Moving company JK Moving Services is expanding to add 140 jobs."

By the way, Leesburg was also voted as the number 4 top small towns to live, reported by Money Magazine. Check this out!

MONEY MAGAZINE

Let's not keep it a secret, what is really happening in Loudoun County and our local market. RIGHT NOW?

We are seeing our website traffic increase; increased activity with phone calls on my properties, as well as folks calling into our office about listings in general. Showings have increased, and our properties are receiving offers, not bad for the beginning of the year, especially in colder weather!

That's great and we LOVE IT! But what the heck does that mean for all of you?

Lookng at November's Marketwatch for Northern Virginia, home sales show an increase of 17% above November 2009.

It means Loudoun County sales are rising. since our normal spring market normally begins in late February or early March, you can expect more positive news in the next several months.

Why should this be relevant to you?

As a Seller, you are likely to already be getting an increase in showings and if your home is priced appropriately, in great condition, staged well, and has been professionally marketed..... your home has a better chance of selling now than, it did over the past several months, and maybe for more money!

How is this relevant to you?

Just to give you an idea of home prices and the percentage of List price to Sold Price in Ashburn, we are seeing homes sell about a 95% on the average. In Leesburg 93% List to Sold Price, and Purcellville homes sold on average 92% of List Price. Not bad for the last three months if you consider those who are looking during the Thanksgiving and Christmas holiday season.

If you are Buying a home, you need to make your decisions more quickly... why? It only makes sense; as the competition for buying (demand) increases, your power to negotiate, get a bargain, or stall on your purchase is less. The good old supply and demand comes into play!

I am sure you're beginning to wonder if the market has recovered?? Unfortunately NO! We have a long way to go. Most economists are seeing more positive signs, though.

Chief Economist Laurance Yun is forecasting a rise in existing home sales in 2011. Robert Freedom agrees in his magazine article in Realtor, Jan 2011, " Interest rates remain historically low and the ratio of income levels to home prices are getting better. The biggest remaining threat is inflation. Long dormant, as the recovery solidifies and businesses start to raise, prices will it be positioned to return in 2011-2012?"

So, don't let fear take hold and keep you from jumping in the market and buying that home you have dreaming of. Start living your dreams, now!

Loudoun has offered me and my family the experience of living the Good Life in our home, our community, and our workplace in Loudoun County. I am dedicated to helping you buy or sell a part of the good life here in Loudoun, too.

Let me help you start a new chapter!