loudoun county real estate: Focusing on my outside Loudoun and Fairfax County real estate Blogs. Peace out!
- 12/16/08 02:55 AM
After being an active member of AR for quite some time, I've decided to focus my blogging efforts on my own "outside" real estate blogs. I'll be posting Loudoun and Fairfax County real estate related posts directly on my local real estate blogs - LoudounScene.com and LoudounForeclosures.com - and will continue writing about real estate in general over at Agent Genius and VARBuzz. Thank you to everyone who's read my posts, commented and engaged in discussion. I look forward to continuing the relationship I've built with many of you here on AR on the "outside". Peace... -Danilo … (3 comments)
loudoun county real estate: Demand For Distressed Properties Outpaces Supply For First Time
- 10/08/08 05:21 AM
The foreclosure/bank-owned and short-sale portion of the Loudoun County real estate market has been steadily improving over the last 6 months. But last month brought some of the best news we've had in a long time - demand outpaced supply! For the first time since the market turned, there have been more distressed properties sell than new ones come on the market in a one month period. August had 326 distressed properties sell versus 306 new ones come on the market. Here's a graph showing new listings (supply) versus solds (buyer demand) for 2008 (click to enlarge):
Notice that in January, the … (0 comments)
loudoun county real estate: Mortgage Rate Round-Up - September 13, 2008
- 09/18/08 09:49 PM
This was a great week for borrowers locking in their rate - rates plunged almost half a point. Rates are below 6 percent. Several loan officers I spoke with yesterday said that they saw rates as low as 5.75 percent with no points. Why did rates suddenly plunge? They plunged due to the Fannie Mae/Freddie Mac take-over by the Feds which brought some much-needed calm and (some) stability to the market. Now that the Feds are running Fannie and Freddie, GSE mortgage-backed securities are more appealing to investors. That effect is felt by you and I in the form of lower rates. What will … (0 comments)
loudoun county real estate: No "Summer Slump" For Loudoun County Real Estate In 2008
- 09/03/08 09:34 AM
Many people talk about the July/August "Summer Slump" and how Loudoun County home sales "mysteriously" drop. Well, there's been some truth to that in years past. But not this year. In fact, 2008 had one of the most fast paced residential real estate buying summers in recent years. To show you what I'm talking about, let's look at a comparison of the summer of 2007 and this summer (2008)... In 2007, we did see a bit of the "summer slump", specifically in July and August. Here's a graph showing the number of new listings coming on the market (supply) and the number of homes selling/going under contract (demand):
As … (0 comments)
loudoun county real estate: Loudoun County Real Estate Market Statistics - July 2008
- 08/14/08 06:53 AM
Wondering how the Loudoun County real estate market is doing and what the statistics are? Curious as to how it did last month and how it compares to last month/last year? Well, there's good news... The Loudoun County real estate market is continuing to improve with inventory going down and buyer demand increasing. Check out the statistics: Supply/Inventory The number of homes/listings that came on the market in July 2008 was 673. This is a 5 percent decrease from the number of homes that came on the market June 2008 (673 versus 709). The number of homes that came on … (0 comments)
loudoun county real estate: Loudoun County Real Estate Market Statistics - July 2008
- 08/08/08 03:38 AM
Wondering how the Loudoun County real estate market is doing and what the statistics are? Curious as to how it did last month and how it compares to last month/last year? Well, there's good news... The Loudoun County real estate market is continuing to improve with inventory going down and buyer demand increasing. Check out the statistics: Supply/Inventory The number of homes/listings that came on the market in July 2008 was 673. This is a 5 percent decrease from the number of homes that came on the market June 2008 (673 versus 709). The number of homes that came on … (0 comments)
loudoun county real estate: Links To Loudoun County Communities, Neighborhoods and Home Owner Associations
- 07/17/08 02:10 AM
Perhaps you're new to Loudoun County, Virginia and would like to know more about the various communities, neighborhoods and Home Owner Associations in the county. Or maybe you're moving within the county and aren't too familiar with your future community or HOA. Whatever the reason may be, here are links to resources on all the HOAs and communities in Loudoun County (if they have a web site): Ashburn Ashburn Farm Ashburn Manor Ashburn Village Belmont Country Club Belmont Greene Brambleton Broad Run Farms Broadlands Cabin Branch Forest Cardinal Glen Cascades Countryside Courts and Ridges at Ashburn Edwards Landing Exeter Falls Ridge … (0 comments)
loudoun county real estate: Loudoun Real Estate Inventory Levels Well Below National Average
- 07/02/08 11:26 AM
Loudoun County's real estate inventory/supply levels are currently well below the national average of 10.9 months. Loudoun currently has 2400 active homes for sale. The number of homes that sell (go under contract) each month is averaging 427 so far this year. This puts the supply of homes in Loudoun County at 5.6 months meaning that it would take that long to go through the existing supply of unsold homes. Note: More than a 6 months supply is considered a "buyer's market" and less than 5 months is considered a "seller's market". So why the huge difference in market conditions? … (0 comments)
loudoun county real estate: Loudoun County Real Estate Market Looking Up! (Come Check Out The Statistics)
- 07/02/08 11:20 AM
The Loudoun County real estate market is looking up! Yes, folks...that's correct. Loudoun County's 2nd quarter 2008 real estate market statistics show a vast improvement over 2nd Qtr 2007. And the first half of 2008 statistics show a vast improvement over the first half of 2007 (post coming soon). New Listings (supply) The number of new listings that came on the market in the 2nd Qtr of '07 - 3013 The number of new listings that came on the market in the 2nd Qtr of '08 - 2546 That's a decrease of 11 percent Homes Sold (demand) The number of … (0 comments)
loudoun county real estate: Forbes Names Loudoun County Top 10 Places To Buy Foreclosures
- 07/02/08 10:32 AM
Forbes recently named the DC metro area including Loudoun County one of the top 10 places in the US to buy foreclosures. Some of the criteria used was prices, inventory levels, hints of stabilization and long-term investment potential. For more on the story, check out my post over at LoudounForeclosures.com. … (0 comments)
loudoun county real estate: Loudoun County Offers Free Homebuyer Workshop
- 07/02/08 10:30 AM
The Loudoun County Department of Family Services is offering free homebuyer education workshops called "Homeownership 101". The workshops are focused on helping potential first-time homebuyers in understanding the home-buying process. The workshop is six hours and goes over things such budgeting, credit, working with Realtors, the mortgage process and what to expect at settlement. The class is required if you're looking to purchase and ADU (Affordable Dwelling Unit) or obtain financing through the Virginia Housing Development Authority (VHDA). The workshops are held at different locations several times throughout the year over a two-evening time period from 5:30 to 8:30 p.m. … (0 comments)
loudoun county real estate: Loudoun Offers Assistance To First Time Home Buyers Through VHDA and SPARC
- 07/02/08 10:26 AM
If you're a first time home buyer in Loudoun County, you may want to check out some of the programs available through the county, VHDA and SPARC. Loudoun County offers first trust financing, down payment and closing cost assistance to low to moderate income first-time home buyers through the Virginia Housing Authority (VHDA). The loans are known as SPARC loans (Sponsoring Partnerships and Revitalizing Communities). You have to apply for a SPARC loan. Part of the application process is speaking with an approved lender and submitting a reservation form. The selection process is stringent and not everyone is accepted due to … (0 comments)
loudoun county real estate: Inventory Down, Buyer Demand Strong In South Riding, 20152
- 06/20/08 09:50 AM
The real estate market conditions in South Riding and the 20152 zip code in Loudoun County are definitely showing signs of improvement. In fact, the statistics show some of the most improvement so far this year out of all the zip codes in Eastern Loudoun County. Here are the statistics for South Riding and the 20152 zip code: The number of new listings that came on the market in 2008 (1/1-6/9) was 325 versus 430 during the same period 2007. That's a decrease of 24 percent. The number of homes that sold in 2008 (1/1-6/9) was the same (235) as … (0 comments)
loudoun county real estate: Announcement regarding LoudounStats.com, LoudounForeclosures.com and LoudounScene.com
- 06/02/08 06:44 AM
After being co-author of LoudounStats.com and LoudounForeclosures.com, I have decided to start a new chapter of blogging and discussing Loudoun County real estate at LoudounScene.com while continuing on with LoudounForeclosures.com on my own. I will no longer be co-author of LoudounStats.com. I hope that you find the information on Loudoun Scene useful and applicable to you in whatever stage of real estate you're in - just curious, renting, owning, selling, buying or just keeping up with what's going on with the Loudoun County real estate market. If you ever have a question or concern that has not been addressed by a post … (0 comments)
loudoun county real estate: "Give Me Your Best and Final Offer" Means Just That
- 05/27/08 05:56 AM
If you think you've found a great deal on a property, you're probably not the only one who's found it. Because of that, you may be in competing offers. If you are, your Buyer's Agent will probably say something to you like: "The seller/listing agent has asked for your 'best and final offer' by 5pm tomorrow." Attention buyers: "Best and Final Offer" means just that - "Best" and "Final". Once you submit your "best and final", the seller will choose the one that they wish to go with and that's it. There is no coming back later and saying: "But I … (0 comments)
loudoun county real estate: KB Homes Pulls Out Of Loudoun County
- 04/22/08 07:02 AM
KB Homes is pulling out of it Martin's Chase community in Loudoun County, as well as the entire mid-Atlantic region due to poor market performance. KB Homes said the move will help it hold on to cash reserves and ride out the housing crash. The builder has 5 communities in the mid-Atlantic region including Martin's Chase. The Martin's Chase community is located between Belmont Ridge Rd and Evergreen Mills Rd just down the street from Brambleton. I called KB Homes this morning to get more information on what was going on with Martin's Chase. Here's what they told me: They are only selling … (0 comments)
loudoun county real estate: Loudoun County Foreclosure Filings Up Despite Virginia & US Down
- 03/25/08 01:24 AM
Here's the latest data regarding foreclosure filings in Loudoun County as well as the rest of the state and nationally (via VAR's Commonwealth Online): Home foreclosures dropped in the majority of the Washington, D.C. area and across the country, from January to February. The one-month decrease comes at the start of the spring season, when real estate activity tends to pick up. The number of properties with foreclosure filings fell 32.5 percent in the District of Columbia in February, with 340 foreclosure filings on properties, down from 504 the month before, according to Irvine, Calif.-based RealtyTrac, a Web-based foreclosure listing company, which releases monthly … (0 comments)
loudoun county real estate: Loudoun County Community Overview: River Creek
- 03/25/08 01:04 AM
River Creek is a planned community in Loudoun County located 30 miles west of Washington, DC and north of Leesburg at the where Goose Creek and the Potomac River come together. River Creek is recognized as the first gated country club community in the Washington, D.C. metropolitan area. River Creek is a joint venture project of The Tower Companies, Montgomery Development, and ClubCorp USA, Inc. River Creek began as a vision in 1987 and welcomed its first residents in 1997. River Creek was originally known as Edward's Ferry and its' history stems back to the War of 1812 when the U.S government … (0 comments)
loudoun county real estate: $1M+ Homes In Ashburn and Leesburg; A Different Market Altogether
- 03/16/08 12:33 PM
The $1M+ home market in Ashburn and Leesburg is a tough one (at least for sellers) and is much different than the rest of the real estate market in Loudoun County. At this price point, the buyer pool is much smaller. And the amount of inventory heavily outweighs the amount of demand making it much more a buyer's market then the lower price brackets. Let's look at the numbers: Ashburn There are currently 18 properties for sale for $1M or moreThere is only $1M+ property currently under contractThere have only been five $1M+ properties sell within the last 12 monthsBased on the demand over … (0 comments)
loudoun county real estate: Where Have All The Home Buyers In Loudoun County Gone?!
- 03/04/08 08:31 AM
Many sellers with their homes on the market are wondering, "Where have all the home buyers in Loudoun County gone?" Well, the answer is they haven't gone anywhere - they're still right here. The reason why some sellers haven't seen any buyers come through their property and/or why they haven't received an offer yet is because of one reason - price. For example, I published a post the other day on what I thought was one of the best town home deals in not only Ashburn, but all of Loudoun County. Since I published that post, I've found out that the property … (2 comments)
After being an active member of AR for quite some time, I've decided to focus my blogging efforts on my own "outside" real estate blogs. I'll be posting Loudoun and Fairfax County real estate related posts directly on my local real estate blogs - LoudounScene.com and LoudounForeclosures.com - and will continue writing about real estate in general over at Agent Genius and VARBuzz.;)
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