Oakton Virginia Property Management
Residential property management in Oakton, VA
Homeowners in Northern Virginia are experiencing a shifting real estate market.
Fairfax County reflects recent regional trends in home sales in Northern Virginia. Despite a history of strong resales for both single family homes and condos, the real estate market for both types of properties currently favors sellers.
Homeowners now need to exercise patience as their homes sit on the market–and they often find themselves fielding a series of disappointing lowball offers before they finally make the tough decision to withdraw their listing. As sellers experience these time and financial pressures, they (especially those in the midst of a relocation) are looking increasingly to professional, Oakton property management experts to help them. The goal is simple: to get the most out of their investment while they await the return of higher sale prices.
Investment Property in Oakton
Do you own a residence or investment property in Oakton? If so, researching the local market trends will help you decide whether to sell or lease your home.
The trend which favored sellers in 2012 and 2013 has been edging towards a change in the past year towards being a buyer’s market and is putting pressure on seller’s purse strings.
Due to these numbers and a significant growing list of reasons such as relocation, inability to sell, and losing money each month, a number of Oakton homeowners have opted to rent instead. And, as anyone who’s tried to manage their own property can attest, becoming a landlord means you need to get good help.
Sellers who’ve chosen to wait are seeking Oakton property management companies until the market grows stronger. The assistance these companies provide is immeasurable when it comes to providing relief from stress on homeowners (and their budgets), by placing tenants, and by caring for their homes once you’ve moved out.
WJD Serves the Oakton Rental Market
WJD has managed real estate for private and professional clients in and around Oakton for the last three decades. We have our finger on the pulse of the current rental market in region.
It’s a robust rental market in season and out. Northern Virginia, especially neighborhoods inside the Beltway, tends to maintain a healthy market for rentals. What makes this area so strong is the constant influx of temporary jobs found within the Beltway, due to D.C.’s locus of politics, government, and military jobs.
The demand for houses is constant–but since 2008, we’ve been experiencing a tighter lending market. And although we’ve seen a decrease in interest rates (which helped to increase the number of home bought in 2015), the requirements to be eligible for a mortgage have led many would-be buyers to rent instead. Plus, the fact remains that many homeowners prefer to hold off on selling until they see which way the market trends. Despite dropping interest rates, memories of the recent economic recession and subsequent wiped out savings have not been forgotten. Those who have not yet recovered may not have enough for a down payment, even if they can afford the monthly payment.
With all this uncertainty still lingering in the air, there’s a healthy competition to be found in the renters market for a single family homes in our area. This may not help the seller’s market at present, but it gives sellers the opportunity to profit from a landlord’s market.
Three Decades of Northern Virginia Property Management
WJD has 30 years of providing management services to landlords in Northern Virginia. We offer a range varied of property management services, with very competitive fees. Visit our office which is near the City of Fairfax to see why we’re the leading management specialists in Oakton and all of Northern Virginia. Or contact us through the box below for a free rental market analysis.