How much have real estate prices dropped in Northern Virginia?

Question

I live in Fairfax city and bought 4 1/2 years ago. I renovated the house top to bottom and was careful how I spent the $. I put 100k down and spent more than 100k fixing it up. I have a 1/2 acre lot and the house is over all nice for the area. I paid 440 thousand and would like to add a family room on the back but I am afraid to invest any more $$.

Should I get a better deal on the work since the market is down?

Are contractors hurting too?

How can I find out how much my house is worth with out dealing with a Realtor?

Answer 1

I totally understand your dilemma. I live in Loudoun County myself.

Here try this website. It should give you the info you need!

http://www.zillow.com/

Answer 2

Zillow.com used to be the best to find your house's value. But they are using foreclosures by banks as "sales" so their figures are not as reliable.  Your house has gone down from its peak in 2005 by $100,000.  You are right to hesitate about spending more while prices are falling.