Monthly Archives: April 2012

Housing Fair 2012 by Prince William Realty, Inc.

by Nouman Mirza

Prince William Realty, Inc. had their first annual Housing Fair on Saturday, April 28, 2012. The Housing Fair also was combined with the Grand Opening of their new office on 3985 Prince William Pkwy, Ste 206, Woodbridge, VA 22192. The purpose for the housing fair was to meet and greet real estate industry professionals as well as get an update on the current housing market. The weather held out just long enough for some great BBQ, prize giveaways and live music by Jmac and the Heard Again Band. Winners from raffles won prizes ranging from gift cards to a flat screen TV. For everyone that came, THANK YOU FOR YOUR SUPPORT!! 

If you missed the event, you can view the photos as www.facebook.com/pwrealty.  Make sure to ‘Like’ their facebook page for constants updates about the real estate market as well as details for future events!

How Many Showings Does It Take?

by Nouman Mirza

The interest rates are as low as 4% and fixed for 30 years and has generated a lot of buyers in today market almost making most of the Northern Virginia area a “normal” market. This has lead to a lot of seller’s getting lots of showings but no offers.  Is it possible to have 30 showings and no offers?……YES!

This is something that has been really hard for some sellers because they tend to get discouraged about their home not selling.  If you’re not a seller that has an over-priced home, chances are you’ve had lots of showings but no solid offers! So you’re probably wondering “Why haven’t I gotten any offers yet?” This could be for various reasons, here are two of the most common reasons that I’ve heard from some of my buyers lately: Continue reading →

Absorption Rates – March 2012

by Nouman Mirza

The absorption rates for March definetely are showing signs of a stable market specially if you compare them to February’s rates almost identically with a slight increase :-) . As we start going into the Spring and Summer, things will only get better! Happy Monday everyone!!

Absorption rate are a calculation of supply and demand. Absorption rate is calculated by dividing the total number of active sales by the number of homes sold in a month. The resulting answer let’s us know how many months it will take to sell the entire inventory of homes. I love numbers and have started to calculate the absorption rate for the DC Metro Area, more specifically, I will be focusing on Northern Virginia since that’s my area of expertise and state of licensure.

The numbers used for my calculations Continue reading →