The trend I first reported on over a month ago - that I saw a pick up in real estate sales and buyer activity in northern Virginia - is definitely real. Some listings are starting to receive multiple contracts. Also, two sets of buyers I am working with both had their first choice of homes contracted by other people before we could even make an offer.
I have also noticed a change in sentiment in people I run into in various places. Most people I talk to are now saying that the real estate downturn in this area is either at, near or already past the bottom. This sentiment, while only coming from my small world, is the necessary first step before the public starts buying homes again.
It will likely be 3 months before the local newspapers report that the real estate slump in this area is over, but for buyers in the know, this is a great time to buy as there is limited downside and great upside price potential ahead. - Bob
