A beautiful split foyer home in North Ferry Farms; 5 bedrooms, 3 baths, and a recreation room in the lower level; Kitchen with almost new appliances and granite countertops; Deck, a shed, a huge back yard (.35 acres); Close to VRE and downtown Fredericksburg; Easy commute to Dahlgren; Lower level needs maintenance; Priced below '08 Tax Value.

Greetings,

I've enclosed below the yearly sale statistics for Fairfax County compiled by MRIS (the MLS in the Northern Virginia region).  These numbers paint a different picture than the doom and gloom that is always projected by the National media.

Fairfax County Real Estate Statistics - (2005, 2006, 2007)
ITEM / YEAR	2005	2006	2007
Ave Sold $$	$543,230	$543,163	$541,982
% Change (From Previous Year)	22.67%	-0.01%	-0.22%
Median Sold $$	$479,195	$470,000	$459,990
% Change (From Previous Year)	24.47%	-1.92%	-2.13%
% Sold Price	99.25%	95.51%	94.05%
DOM	21	63	88
% Change (From Previous Year)	5.00%	200.00%	39.68%
Units Sold	23,114	16314	13557
% Change (From Previous Year)	-10.12%	-29.42%	-16.90%
Source: Metropolitan Regional Information Systems, Inc. MLS Resale Data

Based on the above numbers, the following can be derived:

1. The Ave Sold Price in Fairfax County barely went down from 2005.

2. The Median Sold Price in Fairfax County has gone down by 4% from 2005.

3. The Number of homes sold had dropped significantly by over 58%.

 

The National Media only focuses on the # of homes sold and the fact that prices have crashed in other parts of the country.

In Fairfax County, the overall price hasn't come down at all.  The reason the # of homes sold has dropped is because the consumer is buying into the fear perpetuated by the media.

Lastly, within Fairfax County, different areas will show different numbers and the consumer should do more in-depth research to find out the local information.

The local conditions will be a topic for another blog!

Good Luck.

Lovely 2 bedroom, 1 bath condo in Pinewood Meadows ~ Perfect home for a new family ~ Master Bedroom with Walk In Closet ~ Living room with lighted ceiling fan and fireplace ~ 2 Parking spots (1 Carport + 1 open) ~ Laundry room with access to carpeted attic ~ Across the street from Sully Place Shopping Center ~ Located off Route 50 ~ Close to Route 28 + Dulles International Airport.

 

Piedmont is a relatively new subdivision located in Gainesville and Haymarket in Prince William County, VA.

With over 2000 homes, it is one of the largest subdivisions in Northern Virginia.

In addition to an on-site manager, Piedmont has two gated entrances, a clubhouse, a golf course, swimming pools, tennis courts, basketball courts, tot-lots, and plenty of grassy lawn areas for children to play in.

Located near I-66 and Route 29, Piedmont is minutes away from shopping centers, schools, and other activities.

Homeowners who have had their mortgage debt forgiven have a reason to celebrate.  In the past the part of the mortgage debt that was forgiven was subject to ordinary income tax by the US government.  The tax was considered by many to be salt in the wounds of already distressed homeowners who were unable to make their mortgage payments.

Congress, however, changed all that by passing a new bill that would repeal the debt cancellation tax.  Homeowners who now have they mortgage debt cancelled will no longer be expected to pay a tax bill that they can't afford.

As always, homeowners who have their mortgage debt cancelled should consult a tax professional before doing their taxes.

Good luck!

Beautiful 3 Level Colonial with 4 bedrooms and 2.5 baths. The home features a Gourmet kitchen with upgraded appliances, hardwood flooring, and a kitchen island. Also included are recess lighting, cathedral ceilings, zoned climate controls, and a master bath with separate shower and tub. The icing on the cake is a huge rec room in the walk out basement. Secluded neighborhood with gated entrance.

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