Radius - 0.5 m

Today, there are 20 active properties for sale at walking distance to the Vienna Metro; 10 under contract; and 4 were closed since April 1, 2009. If we just look at the ones that were sold, it is interesting to notice that the difference between the listing and the sale price is relatively small. Two of them were sold at the listing price and the two others -lower than the asking price: one 19k lower (originally priced at 689,500) and the other - 8k less (listed at 350k).
Out of 20 active listings 1 is a foreclosure and 1 is a short sale.
All of them (with the exclusion of 5 properties) have been on the market less than 30 days...

Current Market

Today, there are 16 properties for sale which are at a walking distance to Vienna metro, the cheapest being 270k (for 1 bedroom and 1 full bath) and the most expensive 639k (townhouse with 3 bedrooms 3 1/2 baths). If a property is priced right, updated or as a minimum in a meticulous condition, during the first 3 -4 days there are multiple offers. AS LONG AS IT IS IN A SOUGHT-AFTER LOCATION! It is very important for sellers to realize that it is still not their market. Buyers should prequalify first before rushing into the market. Be prepared for escalation clauses if you really like a property and still want to make a lower offer. Need help? Let me know.

Take advantage of low interest rates!

As of today, the treasury has bought about $250 billion in mortgage backed securities under their program that is causing these low interest rates. They just started this about three weeks ago. There was a total of $750 billion allocated for this program, meaning that 1/3rd is already used up just a few weeks into it. Once it is gone rates will rise up again. This means that people have another 6 weeks at this pace before the short is over and rates could rise after that.
Hurry! Take advantage of these low interest rates, decreased cost of properties and still a wide choice of houses on the market!!!
If you need help to find info about a property, email or call me at 703-937-0328.