Angela's Blog

Market Update Jan 4th thru the 11th

2008-01-14T08:02:37Z

Well, we are off at the start of our Spring market - so far starting to look good. The inventory in 20171 for single family homes is at 70 - a little higher than last week - but that would be expected as sellers put their homes back on the market after the Holidays. There were 9 new listings - 3 of which were relisted. The good news is that 4 homes sold - 3 of which were over 600,000. One was at 459,000. The market under 500,000 continues to lag behind because of the heavy competition from the foreclosures. They continue to come on the market $125,000 less than what they were purchased for in 2005. Most of the ones that I have seen are in really rough shape but would be good investments for people on the prowl for deals. Hopefully, the market will continue on this trend. If so, watch for prices to firm up and the listings will start to sell faster. Have a great day in Virginia. If you are interested in additional information on foreclosures - just email.

Market Update December 7th through the 14th

2007-12-19T10:51:37Z

The market is starting to look a little better. The inventory is down to 82 single family homes for sales in Oak Hill/Herndon. There were 5 new listings - 2 of which were homes relisted at lower prices. There were 3 homes sold this past week - which is better than the week before and we are so much closer to the Holidays. They were on the market 51, 58 and 25 days respectively. As far as the inventory is concerned, we are back at the figures that we had going into 2007 - which is really great news when you think of all the shocks that the bank industry gave us this year. So, hopefully, January will be a more rewarding month for sellers. I wish everyone a Merry Christmas and I hope you all have safe Holidays! See you in January. If you have any questions on whether you should put your home on the market this Spring, IO would be happy to answer any questions. Also, I think the decision on the school boundary change should be out January or February.

Market Update November 30th though December 7th

2007-12-19T10:49:37Z

There were 88 active single family homes going into this weekend for sale in Oak Hill/Herndon. There were 2 homes sold this past week - both having been on the market over 90 days. Also, there were no new lisitngs so the market will probably just continue the same as we go through the holidays. Looking forward to a better market in January.

Market Update For November 16th through the 23rd

2007-12-04T11:53:43Z

I hope everyone had a happy and safe Thanksgiving. The market did not do too much during the week - much as expected. The number of active single family listings in Oak Hill/Herndon is at 98 with 6 new homes coming on the market - one of which was relisted. No homes received contracts this past week - I guess everybody was enjoying turkey and stuffing. Hopefully, we will rally through December - we did last year.

Market Update November 23rd to November 30th

2007-12-04T11:47:03Z

Well, the market continues to plug along at a snail's pace. This week, there are 90 single family dwellings on the market in Oak Hill/Herndon zip code of 20171. This continues to go down which is a good thing for the sellers competing against themselves. Eventually, the market will stabilize, the buyers will come enter the market and there will not be a lot of inventory to choose from - again, the sellers who can stage their home and price it correctly will win. The reduction is due to the sellers deciding to rent their homes or just sell them at a different time. One home sold last week which was on the market for 172 days. The one thing that I noticed this week, in contract to the last 3 weeks, I had 2 potential buyers call me off ads - that has not occurred in awhile - so, hopefully, this means something.

Market Update November 9th thru the 16th

2007-11-18T10:11:58Z

The overall foreclosure news is still not good but we seem not to be as bad as the rest of the county or in Loudoun. There are a total of 96 active single family homes in Oak Hill/Herndon going into this weekend down from last week figures of 98. I think, as we go through the holiday season, this number will continue to fall - which is a healthy sign for sellers. There were 5 new listings on the market this week - one of which was a reissued listing. The number of foreclosures remain at 5 - again, another healthy sign. A total of 4 homes sold this week. They were on the market from 3 to 105 days. If we can sell 4 homes a week with this number as our inventory - we will be doing great - back to the earlier part of this year before the bank foreclosure report in July that sent a shock through our market. Keep your fingers crossed and hope that you have a safe and wonderful family Thanksgiving. It will be tough this week to predict anything unless we have at least 3 homes sell.

Market Update November 2nd thru the 9th

2007-11-12T11:18:08Z

We are approaching the holidays - my favorite time of the year - which is a natural slow down period. In 20171, we had 98 active single family listings - down from last week. I believe last year we got to around 85 active listings before the end of the year. Almost all of the reduction is due to sellers taking their homes off the market and renting them or deciding to try at another time. It is a tough time right now. Only one home sold in the last 7 days. There are still 5 foreclosures on the market -so that number is not increasing - which is a healthy sign. Only 2 new homes came on the market. The good news for the sellers is that as the inventory dries up - those sellers with good pricing and show above average will sell. Buyers will find their choices limited. I would think that we should have a good first of the year in 2008 - since we do not seem to be inundated in foreclosures.

Market Update for Herndon/Oak Hill October 26th thru November 2nd

2007-11-02T08:53:44Z

Quite a few homes went up for rent instead of sale this week - which is good for those truly trying to sell their home. The inventory has come down to 103 active single family homes in Oak Hill/ Herndon. There were 5 new homes listed this past week. We still have the 5 foreclosures - which have not sold yet. We had 3 homes sell this week - better than last - so maybe we are getting some strength. They were on the market respectively 80, 90 and 126 days - this is reflecting the number of homes we have and that fact 10 - 12 homes are selling each month. I hope everyone had a safe Halloween.

Market Update October 12th thru the 19th

2007-10-23T18:55:40Z

The market in Oak Hill/Herndon worsened a little this week. We have a total of 107 listings going into the weekend of the 19th - which is an increase from last week. 3 homes sold last week out of the 107 listings. 12 new listings came on the market - 6 of which were reissued listings. There are total of 6 single family homes in foreclosure that are currently on the market. There still seems to be more buyers out there than we have had in the past 60 days - but still not a lot of sales. We overall are doing much better than Loudoun - so being closer in is a better investment. A home that I sold in 2005 for $539,000 just came on the market as a foreclosure for $389,000. Amazing prices. I think and see the investors are starting to come in and buy the distressed homes. Do you think the market is going to get worse or better, let me know. I be interested in someone else's perspective. The issue now is what will the Spring market in January be like. Got any thoughts? Have a great day and enjoy.

Market Update October 5th thru the 12th

2007-10-17T09:01:10Z

The market is looking a little better this last week. We have a total of 103 detached homes in Oak Hill/Herndon for sale - down a little from last week. We had 8 new listings - 2 of which were relisted at different prices. The good news is that 5 homes sold - up from last week. They were on the market from 6 days to 313 days. What it looks like to me is that the market is trying to hold its own. It seems the traffic thru the houses on Opens and regular real estate traffic is down to 1 or 2 per week. I also think the investors are buying up the foreclosures - which is helping stabilize the market by getting those houses off the market. I think this is true of this area of Fairfax County. I think Loudoun is facing more difficult problems. I showed approximately 75 townhomes in the last 4 days to different buyers. Of those 75 townhomes, ninety percent were vacant. In Loudoun, 50% of them were foreclosures or short sales. If the market continues to do what it is doing, we should see firmer prices in January - making this a great time for buyers to buy.

Market Update September 21st thru the 28th

2007-09-28T22:05:07Z

Well, another month has gone by. September was definitely one that real estate agents would like to forget. Going into this weekend, we have 107 active single family homes for sale in Oak Hill/ Herndon - which is actually wonderful news - down from last week. There were 8 new listings - 5 of which were relisted. There were only 2 sales - one was on the market 14 days and one was on 68 days. I think that the fact the inventory did not go up is really good news. I think sellers are hesitant to put their home on the market - which is keeping the number low. Noticeably though, the inventory of foreclosed homes is not increasing the market significantly this past week. Although sales are slow - they usually pick up once the buyers feel more comfortable with the market. The realtor traffic with buyers through listings is slow. The open house held last weekend had about 6 people through - 3 of which were neighbors. Although that sounds slow - that was much better than the week before. Looking forward to October!

Market Update thru September 21st

2007-09-22T15:05:51Z

Yesterday, I read an article in one of the newspapers that they throw in your driveway. The article stated that the real estate market in Northern Virginia currently was doing well and that prices had risen slightly. I think they need to ask a seller who is currently on the market what they think before they print their articles. You wonder how much other information in the paper is erroneus or significantly after the fact. This article was relevant 60 to 90 days ago. We are definitely feeling the affects of the mortgage business today. This time of the year is usually a good time to sell your home but the market has slowed. In Herndon/Oak Hill, the net inventory of single family dwellings is at 109 homes - up 7 from last week. There were 8 new listings - 5 of which were homes that were relisted at new prices. Three homes sold - one was on the market 170 days, 2nd on 146 days and one was on 30 days. Hopefully, we will just glide thru the rest of the year without a large inventory increase and have a great Spring market 08.

Market Update 8/24 thru the 31st

2007-09-06T14:06:33Z

A very quiet week going into Labor Day Weekend. The total net single family homes on the market in Oak Hill/Herndon is 93 - about the same as last week - good news with the foreclosures coming on. A total of 2 homes sold this week - which is the lowest that it has been all summer. 8 new listings came on - about the same. Usually this time of the year is our slowest real estate market - due to the summer hot days and vacations. September picks up as we go into Fall - so I will keep you posted. Any comments, please let me know. Since I am posting this a little late, I hope you all had a wonderful and safe Labor Day!

Market Update August 17th thru the 24th

2007-08-27T08:41:40Z

We are either experiencing the end of summer real estate blues or the finaning issues. The last weeks of August are the biggest beach vacation weeks. This week, we had a slight increase in net listings in Herndon/Oak Hill to 96 single family homes. There were 7 new listings that came to the market but only 2 homes sold for the week. Obviously if only 2 homes sold and we have 96 homes on the market - the months on market for the average home will be 12 months - with 8 homes selling per month. Only time and hindsight will tell us. The market picks up in Fall - usually mid September. Enjoy your Labor Day weekend!

Market Update August 10th thru August 17th

2007-08-18T07:35:37Z

We have had another interesting week in real estate. It sure would be nice to predict what the real estate market will do from month to month. So far, there have been incidences of contracts falling apart because the buyer can no longer get the financing that they had been promised. Eventhough this has affected individual sellers and buyers, it has not flooded the market with additional listings. The local market in Herndon/Oak Hill seems to be doing well. Prices still seem to be stable. There are a total of 93 active single family homes on the market - the same as last week. This shows that the foreclosure market is not affecting the number of new listings coming on the market. There were 7 new listings this week and 8 homes received contracts. All about the same as last week and now a week after the turmoil of the banks withdrawing their financing. Yesterday, the Fed rate dropped - this should also help stabilize the market. I would think if we have another week of these results - we should be in pretty great shape. After all, the market has done really great for a summer market. June, July and August are the worst 3 months of the year for real estate due to summer vacaations and kids being home from school. September usually sees an increase in the number of homes sold. Hopefully, this trend will continue. We should have a great Fall and next Spring market. If you are thinking of selling in the Spring market 2008, this is a great time to call to get ideas of what you need to do to get on the market. If you are a buyer ready to buy, make sure you are working with stable lenders - I have several I could recommend. Have a great weekend.

Market Update August 3rd thru the 10th

2007-08-13T08:11:00Z

The market was pretty much the same a s last week in Herndon/Oak Hill. We had a total of 92 net single family homes on the market going into this weekend. There were 7 new listings with 7 listings getting contracts - another great week. I have noticed one trend in the last 60 to 90 days and now we have another issue this past week that will, to some degree, affect our real estate market. A pricing disparity has appeared between the over $500,000 market and the under $500,000. I know that this is a result of the sub-prime market imploding. Most of the homes under $500,000 are foreclosures or are pre-foreclosures. They have been dropping in price over the last several months but the non-foreclosure homes are not and they are getting fairly stable prices for their homes. There are some foreclosures on the market 40,000 to 50,000 less that identical houses that sold a month ago - but, even at these prices, they are not selling. It looks a little odd. This week, I heard that the lenders are not providing stated income loans anymore - which makes sense to me. At the same time, though, the jumbo loan rates jumps a percent because, according to the news, they want a higher interest rate because of the issues with the sub-prime market. This all seems like a knee-jerk reaction - but only time will tell. You would think this would affect our inventory and prices would soften. I would think, my lowly opinion, that the inventory would have to get to the 120 to 130 range before we would see the impact locally. I think the next couple of weeks will show an inventory increase if we are going to weaken again - so far so good. The real estate market is very hard to predict. I guess when someone is able to fairly predict the stock market, we will be able to predict the real estate market. I yearn for the stable market of 1992 to 1999. I did not know then that I had it so good. Have a great day.

Market Update July 27th thru August 3rd

2007-08-06T07:16:41Z

We had a significant drop in inventory going into this weekend in Oak Hill/Herndon. The total number of single family active listings for this weekend is 93. If the inventory continues to drop, buyers will have a harder time finding great homes. Prices on homes in great condition will be stronger. The inventory is now sitting at December 06/early Spring numbers. 9 new homes came on the market this weekend and 4 homes got contracts. This was also lower this week. The four homes were on the market 19 to 175 days - majority selling under 60 days. Welcome to August. 30 more days and the kids will be back in school. This is the big beach month.

Market Update July 20th thru the 27th

2007-07-27T21:57:55Z

Well, I know the stock market is on a wild ride down. I know the Washington Post and other news vehicles have said that the real estate market is sluggish - but I am not sure they are looking at the Northern Virginia market. The home market in 20171 - Herndon/Oak Hill is doing great. We now have a net of 100 single family homes on the market - significantly down from last week. Less inventory means prices will be stronger. There were only 3 new listings this week - also down from last week. Sales remain strong - 8 homes received contracts this week - which, again, is terrific. I put a home on the market 10 days ago. The home received 3 contracts in the 10 days. The first was a low ball offer that was unacceptable. The second was a good contract but the third came in and took the home at full price. If the market was as sluggish as they say it is, this activity would not have happened - so we are doing well. A very balanced market between the buyers and the sellers. The moral of the story is to price your home well and get it in great shape - you will be rewarded for your hard efforts.

Market Update July 13th thru the 20th in Herndon/Oak Hill

2007-07-21T06:45:14Z

Another great week in real estate for buyers and sellers in the Oak Hill/Herndon area. There were a total of 111 net singel family listings on the market for this weekend. There were 8 new listings. 9 homes sold this week - which is great for a summer week. There are buyers looking for houses and you can see it in the number of showings a home gets. The saying still goes - price and condition sells a home. Of the 9 homes sold, 3 were on the market less than 30 days (so it is possible), 4 were on the market 60 to 90 days and 1 was on the market 391 days( I bet they are excited). Overall, the market is doing well - seems to be well balanced between buyers and sellers. We seem to be back to the 1990s - where things were selling - but not in a frenzy. Have a great weekend and if you have any specific questions, I am just an email away.

Market Update from July 6th thru the 13th

2007-07-14T16:36:51Z

WIth the fourth of July behind us, the market continues to hold its own. As of Friday, there were 110 net listings on the market in 20171 - up a few from last week. 10 new listings came on the market this week with 6 homes receiving contracts. We continue to maintain the momentum that we have had all year. Prices are keeping firm. August is coming and usually a month that we think of the beach and peole start thinking of getting their children ready for school. September usually picks up for sales. It is a little cooler getting in and out of the car and the children are back in school. A tip for this week - remember to look at the front of your house from a buyer's eyes not yours - you will be amazed at what needs to be done. Most buyers and real estate agents determine how well you take care of your home and how it is going to look once the door is open from the outside. Have a great weekend - enjoy the pools

Market Update June 29th to July 6th

2007-07-09T20:39:28Z

First, I want to say that I am sorry I am a little late posting this information on the current market. I was not aware that anybody really paid much attention to this blog. Only joking - but I was at a settlement today and Roger and Jill (you know who you are and congrats on your new home) were worried the market might have fallen apart because I had not blogged in 2 weeks. The truth is, I went on vacation and was not aware that people were really interested on what the market was doing and how I interpreted it - especially in the 20171 zip code. Obviously, at least 2 people read this weekly - so now I am back. So much for the naysayers and the Washington Post. The market continues to show strength. For this week, there were 107 total listings, 7 new listings and 7 houses received contracts. A terrific summer week - especially with the 4th of July in the middle of the week. It is a great time for buyers to buy - it certainly looks like prices have stabilized. As always, those well priced houses that show well are getting the contracts. The last 3 houses that I have sold - all have been within $5,000 of full price. Something that was nearly impossible a year ago. I hope everyone had a safe and wonderful Fourth. Bless our troops!

Market Update for June 15th thru the 22nd in Oak Hill/Herndon

2007-06-22T13:15:35Z

The market is very stable/improving in the Oak Hill/Herndon zip code of 20171. There are a total of 108 active single family listings for sale as of today. We saw 10 new homes enter into the market and 9 total homes got contracts - which is terrific. The market is definitely not dead this week. Inventory is remaining relatively stable. We should see an overall decrease in active listings over the next month - especially if the home sell at this pace. Again, staging and pricing are the keys to getting a contract in and at the right price. If you are interested in a stager, just email me. I have a list of good ones. If you are listing with me, I will pay for her first visit. Have a great weekend.

Market Update June 9th thru the 15th

2007-06-15T13:09:38Z

The summer market is here. There were 6 new listings this week in Oak Hill/ Herndon. A total of 3 homes sold this week with a net of 109 single family houses on the market. The number of homes sold for the week is lower than last week and the net is about the same. This happens every year as we approach the end of the school year and the pools are open. You will need an experienced agent to guide you thru this market - if you want to sell - experiance will matter. Sellers will need to home stage their house to get buyers attracted. Those sellers who price their home correctly and look at their home from a buyer's prospective will sell. Summer is here and we will probably just humm along until September. For all those fathers out there, Happy Father's Day and may you get a day of rest!

Market Update June 1st thru June 8th

2007-06-08T15:40:32Z

The summer market is but a few short weekends away. Time for vacations, schools are out and summer camps are in. The market normally slows thru June, July and August - but we will see. So far so good. There were 111 total listings in 20171 - down 1 from last week - so the inventory had definitely stabilized. There were 7 new listings that came on this week - less than last week and 8 homes received contracts - also, more than last week. Overall, a great first week of June. The market under $500,000 seems to be a bit slow - probably due to the sub-prime loan issues. Today interest rates went up - so we will see what affect that has on our market. Have a great weekend - stay in the shade.

Market Update For May 25th thru Jun 1st

2007-06-02T05:37:40Z

Another good week in real estate for both the sellers and the buyers. The market has stabilized. This stabilization has been evident since December and has continued through the Spring Market. The Spring Market resembled the markets of 1992 thru 1999 - where we had a pretty fair suppply of buyers and sellers. For the past week, we have a net of 112 single family detached listings in Oak Hill/ Herndon. Of these, 15 were new listings with a total of 7 homes receiving contracts. Not bad for a holiday weekend. We should see a slowing of both new houses coming on the market and houses receiving contracts as the schools let out and pools open. Summer is almost here.