To end the suspense, the answer to the title question about when is the optimal time to buy a home in Herndon has been officially answered. The answer is, more or less, “now.” All right, there’s an alternate answer, “as soon as practical”—but that is a less dramatic-sounding version of the same thing.
The official nature of that answer is due to its source, generally considered to be the apex of the residential real estate industry: the National Association of REALTORS®. The “®” is there after “REALTOR” because the group literally owns the word “Realtor”—that’s how much of an industry leader the NAR is!
I’m a member because of all the resources it makes available for the benefit of my Herndon clients. Among the raft of those is a steady stream of research about the market, new and proposed Virginia and national legislation, and a wide range of new information about selling and buying a home.
Since its pronouncements need to accurately reflect conditions throughout the country—informing more than a million brokers and agents—its words are (as you’d expect) carefully weighed. Which brings us around to the single best time for buying a home, which the Association shared on January 23: “before 2017 ends.”
Three “crucial” reasons were presented in Lisa Gordon’s presentation, each of which is hard to argue with:
For sure, neither the NAR nor I are neutral observers when it comes to selling and buying homes—so the hurry-up reasoning might warrant a degree of skepticism. But the changes in Washington have added a new factor barely touched on in the NAR piece: uncertainty. If you are among those planning on buying a home in Herndon at some time in the future, that might be the most convincing argument of all. The current listings and Herndon’s real estate environment are knowns—and they are, by historic standard, pretty terrific. You’ll be able to confirm that yourself when you give me a call!
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