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To Reston from Anywhere

November 12, 2009

3-10-08 South Riding & Reston 014

This is in answer to your question asking, “What does the back of the Reston Town Center sign look like?”

Sue: My family is planning a move to the Reston area from Chicago in February so that my husband can take a position at a firm off Route 28 near Dulles. Can you lay out our housing  options for us between the $300k and $600k? Condos with  2+ bed, 2 bath, and town houses and single family homes with 3+ beds, 2+ baths? We may not be there long, so we are thinking about getting a less expensive place if he may be transferred again quickly. If we can be there a number of years we can chance buying a bigger, more expensive place. What are your thoughts?

Reston's founder: R.E.S.

Reston's founder: R.E.S.

Steve & Jan: Sue… if you are not sure how long you will be here it is a safer bet to rent a home until your husband’s job circumstances become clear. In the period 2002-2005 home prices went up 20-25% per year so there was the potential of buying then selling in a year or so….. breaking even or making a profit after sales expenses was possible. Prices have fallen since 2006 and in many areas have returned to 2003 levels.We are now advising clients that they need to make a 4-5 year commitment to a home to reduce their risk of financial loss should they need to sell.

The market has slowed; buyers are very particular and are dealing from a position of strength. They will most likely ask the seller to pay their closing costs….that has become the norm. This helps you tremendously now as a buyer, but if you have to sell in the near future due to another transfer, you will become the seller and your costs will be tough to bear. The seller’s cost of sale can easily be 9-10% when adding the buyer’s closing costs to the realtor’s fees for service…so you need hefty appreciation per year to cover that amount. That is not happening now…prices are flat to slightly up, there is good demand but the number of homes for buyers to choose from is high, so buyers hold the upper hand and will continue to do so for the foreseeable future. This is all great news for you if you want to buy…but caution dictates that you need to be sure you are going to be here for 4-5 years.

Also, as far as searching housing options you can check out our main website at www.HomesByBachman.com and set

Nice work

Nice work

up an automated search based on your criteria and all homes matching your search requirements will be sent to your email. No hassle.

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You came here for real estate or community information…not to read about all the fantastic things that we have to say about ourselves…so we don’t say it. You want to search for Homes? Same deal.

Go here: Search for Northern Virginia Homes Like an Agent Just play around. No hassle, no spam, we won’t bug you. Fresh listings emailed to you. Want more info. Drop us a line. You’re in control. For a regular home search click here:HomeByBachman.com Peace.

Reston homes for sale, Reston Real estate agent, Homes for sale in Reston, Reston Realtor

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