Wednesday, June 3, 2009

June 3 - Market Update

If you are looking to rent a property at a walking distance to Vienna metro, there is a big choice today: 17 properties! The cheapest is a 1 bedroom condo for $1,400/mo and the most expensive is a townhouse for $3,200/mo. I believe it is best to get help of a realtor to view the rentals since you can see all of these and maybe some at farther locations in one day. And most likely, you will not pay for the service. I sometimes dedicate my time to tenants, too. If you need help, call me at 703-281-1000.
As for sale, we have started to see some short sales and foreclosures around the metro, too. For example, a new listing (detached house!) just came to the market. It is listed for 785k (it is obviously a foreclosure) and it is built in 2004.
There is also a short sale - a townhouse for $350k only. Built in 1986. If you are in no rush, this may be a good deal for you: very low priced, shows well, excellent location and good schools. What is there not to like? Hurry! Interest rates are creeping up, although they are still very low....

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