Newbie Investing in Northern VA

[Grace Wang]

Hi all,

My husband and I have purchased two properties in Fairfax County as our primary residence in the past 7 years. We are making next move to find a rental property in northern VA recently although we've watched this market closely for a while. Even though the US real estate market is weak, it is totally a different story in northern VA. A $136K condo in Sterling, VA can attract more than 10 offers. I am wondering if any investors specialized in northern VA can share your wisdom how you find your deals in this area. Is it worth participating in the bidding war since the banks of REO properties intend to reduce their listing price to draw more attention? Any input will be appreciated.