Back After a Summer Hiatus... Arlington Tops on Jobs

Summer 2009 turned out to be a busy real estate market - great for local markets and buyers AND sellers! The first time buyers continue to fuel the market, largely due to the $8,000 federal tax credit.

US News and World Report recently ranked Arlington, VA as the #2 city in the US for job seekers...

No wonder our real estate market continues to be strong and buck national trends.

While no U.S. city has been untouched by the economic downturn, some job markets have been better able to weather the storm. U.S. News & World Report examined a variety of data to identify cities where it’s easier to find a job than in many other places. The underlying strengths of the top cities vary considerably. Some of the stronger cities are state capitals and have lots of government jobs. Others have abundant natural resources, stable housing markets, growing health care sectors, or are in close proximity to military bases.

But overall, what separates these communities from those that have been hit harder is a steady economy that protected them from steep unemployment.

Here, in alphabetical order, are the 10 cities that offer the most opportunities for job seekers:
1. Anchorage
2. Arlington, Va.
3. Columbus, Ohio
4. Honolulu
5. Houston
6. Oklahoma City
7. Salt Lake City
8. Shreveport, La.
9. Tallahassee, Fla.
10. Wichita, Kan.

The Eternal Question - "Have We Hit Bottom?"

The close-in DC market has seen many of these 'up ticks'. Have we turned the corner? I don't have a crystal ball but there are a lot of buyers and the inventory is down - especially inventory that is not distressed. See attached link and story from RisMedia.

The only way to judge the 'bottom' is when the markets are headed up again - real estate is a long-term investment and guaging the market for the 'bottom' or the top is impossible. Economists, real estate professionals, appraisers - anyone 'watching' the real estate market can share trends and good information but long-term trends are the most accurate when looked at historically.

Now is a great time to buy - especially for first-time homebuyers with the $8k tax credit - now that is some incentive!

http://rismedia.com/2009-06-23/have-we-reached-bottom-10-factors-to-consider/

Washington DC Market Makes Forbes 5 Best List

Lists are lists, but you have to love it when your market comes out on the 'best' list. We sure do.

We have definitely noticed an uptick in the market in 2009 to date -- in fact we have seen many multiple contracts, bidding 'wars', etc that harken back to the 'height of the market'. We wouldn't say we're going to see the huge increases in home values, but the inventory is drying up a bit - and that will make a more stable market for the remainder of 2009 and into 2010.

Read on...http://realestate.msn.com/article.aspx?cp-documentid=18080758

Can You Use Your $8k Tax Credit as a Downpayment? Maybe...

This may in fact happen soon! Very exciting stuff for first-time homebuyers. This was announced by Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development during a recent meeting. Check out the link below for the full story and press release.

http://www.realtor.org/press_room/news_releases/2009/05/re_summit?lid=ronav0019