great falls: Real Estate Market Year over Year Comparison - 01/02/20 11:06 AM
2019 to 2018 to 2009
 McLean and Great Falls
 The dawn of a new decade has arrived and 2019 has come to a close.  The statistics for 2019 real estate transactions in McLean and Great Falls have been tallied.  The numbers are up 7.4% year over year, with 1,203 total transactions in 2019 compared to 1,120 the previous year.  The even better news is the market is considerably improved over 2009 which came in at only 867.  That represents an increase in sales of 38.8% over the last decade. The improvement in the market is likely due to several reasons.    
 Over the past … (2 comments)

great falls: McLean and Great Falls 3rd Quarter Market Update - 10/02/19 02:40 PM
First 3 Qtrs. 2019 Comparison to
Same Time 2018 and 2009
McLean and Great Falls
Real Estate Market Update To date 2019 is one of the best real estate markets in over a decade.  Happy days are here again! Total sales in McLean and Great Falls are up year over year by around 5%.  The numbers tell the story.  In McLean and Great Falls in the first three quarters of 2019 there were 904 sales.  In the same time frame for the previous year, 2018, there were 865. 
 
The most improved segment is the price range of $1 to $1.25 m as represents the move-up … (3 comments)

great falls: First Half of 2019 Market Study - 07/03/19 01:13 PM
Real Estate Market Update
First Half 2019 vs.
First Half 2018 and 2009 Comparison
 McLean and Great Falls Flat is the best description of the real estate market performance for the first half of 2019.  Truly I am surprised as there were signs and indicators of more robust activity.  The numbers speak for themselves though!  There were 576 total transactions in McLean and Great Falls in the first half of 2019.  In the same time frame for the previous year, 2018, there were 571.  
The segment that showed the most improvement is the price range of $1 to $1.25 m.  The move-up buyer in … (0 comments)

great falls: 1st Quarter 2019 Market Update! - McLean and Great Falls - 04/03/19 01:55 PM
First quarter 2019 went out like a lion on March 31st with breezy weather in Northern Virginia.  The real estate market behaved similarly at the end of the first three months of the new year.  The numbers have been tallied for real estate sales in McLean and Great Falls and indicate down year over year by 14%, 183 compared to 214.  The good news is the market has considerably improved over 2009, a decade ago, which totaled only 108.  The market shifts are likely due to several factors.    
In many price segments inventory levels are low relative to demand.  This … (2 comments)

great falls: Where We Live: Timberlake Estates - Great Falls - 08/23/17 01:08 PM
Timberlake Estates is a cluster of ~110 homes on the outskirts of Great Falls, nestled between Georgetown Pike and Route 7. Residents often choose to live here due to its private living near to DC. It enjoys proximity to beautiful Great Falls park as well as Tysons Corner Mall and Galleria. Commuters will appreciate the easy access to 495 as well as access to two major airports – Reagan National to the east, and Dulles International to the south-west. Residents attend Forestville Elementary, Cooper Middle, and highly acclaimed Langley High School. Timberlake Estates is separated into North and South. The North … (0 comments)

great falls: McLean and Great Falls Real Estate Enjoys Best Number of Sales in Decade - 10/05/16 02:52 AM
The McLean and Great Falls real estate market has experienced a robust number of sales in the 1st three quarters of 2016. The number of transactions is up 9% over 2015 same time frame. In addition, compared to the 2006 market, it is up almost 16%.  This is excellent news for the market area as we enter into fourth quarter and the national election cycle. It indicates an environment for the potential for price appreciation in some segments, provided demand remains strong relative to supply.
The segment that performed the best in these zip codes was the lower brackets, considered to be anything … (0 comments)

great falls: McLean and Great Falls Real Estate Enjoys Strong 1st Half 2016 - 07/05/16 02:21 AM
              
The real estate market in the first half of 2016 was robust in McLean and Great Falls. The number of transactions is up 6% over 2015 same time frame. In addition, compared to the 2006 market ten years ago, it is up over 18%.  This is excellent news for the market area as we enter into the summer season. It indicates an environment for the potential for price appreciation, provided demand remains strong relative to supply.
As was the case for the first quarter 2016, the segment that performed the best in these zip codes was … (0 comments)

great falls: Real Estate: McLean & Great Falls Strong 1st QTR 2016 - 04/01/16 09:12 PM
First quarter 2016 real estate market did not disappoint in McLean and Great Falls. The numbers are up over 12% year over year. Further the levels are what was seen ten years ago in the robust 2006 market. This is excellent news for the market area as we enter into the more traditional spring selling season. It indicates an environment for the potential for price appreciation, provided demand remains strong relative to supply.
The best performing segment for these zip codes was the upper brackets, considered to be over $1.25 million.  Most of the price points experienced greater sales year over year and … (0 comments)

great falls: 2015 Outstanding Year Overall for Real Estate in McLean & Great Falls - 01/09/16 02:07 AM
The numbers are in for 2015 in McLean and Great Falls and the market is up almost 11% over 2014 in terms of number of sales.  This is excellent news for the market area as it indicates an environment for the potential for price appreciation, provided demand remains strong relative to supply.  
 
The best performing segment for these zip codes was the lower brackets, considered to be under $1.25 million.  Not surprising the entry level home purchaser experienced the most significant increase of 23% in demand.  Most analysts attribute this to the Millennial Generation now entering the market to purchase their … (0 comments)

great falls: Why the First Offer is Statistically the Best Offer - 08/07/15 01:59 AM
It invariably happens, a property has been on the market for a short time and an offer comes in and the Seller is reluctant to take it because they think that if there is one Buyer out there that means that there may be more.  If they only knew!  Of course, I and other experienced professional Realtors® try and explain the phenomenon but until one actually experiences it, it often does not seem it is true. 
 
In any given market sector, at any given point of time there is a pool of Buyers ready willing and able to purchase, waiting for the … (3 comments)

great falls: Banner First Half 2015 for Real Estate in McLean and Great Falls - 07/22/15 07:39 AM
The first half 2015 in McLean and Great Falls is up over 16% over all in terms of number of sales in comparison to the previous time frame in 2014.  This is very good news for the market area as it indicates an environment for the potential for price appreciation, provided demand remains strong relative to supply  
 
The chart breaks out sales of homes for both zip codes into the lower brackets which is considered under $1.25 million and the upper brackets which is above $1.25 million.  Looking deeper into the statistics, it reveals that all price points other than the … (0 comments)

great falls: All Real Estate is Local - 06/24/15 01:30 AM
All real estate is local is one of those sayings that has become part of common knowledge because it is true.  The primary determining factor for value for real estate is location, because of the unique nature of real estate is that it cannot be moved.  A home in McLean, Virginia will be valued differently than the same exact home built in Falls Church, Virginia.  Both homes may have similar same proximity to the city center of Washington, DC and both may have the same lot size, both may be in the Fairfax County school system, but the location is different. 
 
Location … (1 comments)

great falls: First Quarter 2015 Looking Up for Real Estate in McLean & Great Falls - 04/02/15 03:48 AM
The first quarter 2015 in McLean and Great Falls is up almost 10% over all in terms of number of sales in comparison to the previous time frame in 2014.  This is good news for the market area as 2014 was down over 2013 in number of sales overall by 8.2%. 
The chart provided breaks out sales for both areas into the upper brackets which is considered over $1.25 million and the lower brackets which is below $1.25 million.  Delving deeper into the data, it reveals that the lower price points were the ones that experienced the greatest increase in … (2 comments)

great falls: 2039 N. Vermont Street Arlington VA - The Value of a Walkable Location - 03/18/15 05:07 AM
There are numerous factors that determine whether a location is considered highly walkable.  The first is that there is a central location where people congregate.  Typically there are many restaurant options, shops, and access to public transportation.  The infrastructure design is pedestrian oriented and planned for bicyclists and mass transit.  Daily shopping needs can be met without having to get into a car, usually vehicular parking is not as accessible which discourages use.  The neighborhood has mixed use with workplaces, schools, and recreation is integrated with housing and shopping.
 
Visit www.walkscore.com to assess how walkable a particular address is.  The … (1 comments)

great falls: The Great Arbitrage in Real Estate - 03/12/15 06:41 AM
There are times in the real estate market where a great arbitrage can occur.  The most frequent I have seen in the residential sector is when a home owner sells their home for a strong price relative to the market conditions and buys up at a price that is still low relative to the market potential.  According to Wikipedia, the definition of arbitrage is:  the practice of taking advantage of a price difference between two or more markets:  striking a combination of matching deals that capitalize upon the imbalance, the profit being the difference between the market prices.
 
There have … (0 comments)

great falls: Property Tax Assessments and Fair Market Value - 03/05/15 02:52 AM
In the first quarter of the year, most jurisdictions send out the property tax assessment for the coming year.  In fact, Fairfax County, Virginia where I live distributed the assessments recently.  One can go online to find out more information at the Fairfax County government site:  http://www.fairfaxcounty.gov/dta/real-estate-assessments.htm
 
A question I often hear as a professional real estate agent:  Is the tax assessment fair market value?  Sellers typically want their property tax assessment to be low so that their taxes are low, so they almost always feel that their home is worth more than the tax assessment indicates.  Buyers typically don’t … (0 comments)

great falls: Does it Matter Who the Real Estate Broker Is? Keller Williams #1 - 02/18/15 01:37 AM
For most buyers and sellers the main contact they have with the professional real estate community is with their local real estate agent.  The National Association of Realtors in 2008 profiled home buyers and sellers and asked them how they found their real estate agent and 43% were referred by a friend, neighbor or relative.  It makes sense relationally to go to someone who can be trusted for what is for most people their largest asset to purchase or sell. 
 
It makes sense logically because all real estate is local.  Thus it is important to have a representative who is … (0 comments)

great falls: Prediction for Early Spring Real Estate Market Differs from Groundhog - 02/02/15 01:57 AM
Groundhog Day is when Punxsutawney Phil predicts whether there will be early spring like weather or whether there will be another 6 weeks of winter weather.  On February 2, 2015, Phil saw his shadow which tradition proclaims means there will be 6 more weeks of winter. 
 
Realtors® predict an early spring market by several indicators, the strongest of which is the attendance of prospective buyers at Sunday open houses. Sunday buyer activity for a new listing is typically in the 10-15 group range.  The Huckaby Briscoe Conroy Realty Group with Keller Williams held a new listing on the market in … (1 comments)

great falls: What’s Love Got to do with Real Estate? - 01/22/15 03:05 AM
Valentine’s Day in the United States focuses people on love.  Tina Turner belted the now famous song:  "What’s Love Got To Do With It” and I would like to apply that theme to real estate.  Is there any place for love in the purchase and sale of real property?  I believe there is.  There is an old saying that most people buy on emotion and justify the decision on logic.
 
I have seen the glimmer of love in the eye of a buyer when looking at homes.  There is usually something about the home that triggers a positive memory from … (0 comments)

great falls: Which Comes 1st – The Buying or the Selling (Chicken and Egg Debate) - 01/15/15 03:20 AM
As professional Realtors® we are often presented with the classic chicken and egg debate:  “Do we buy the house to move to first and then sell our home?” OR “Do we sell the house we live in not knowing where we will go after it sells?”  We start the dialogue with people who present the dilemma by asking:  “Can you can qualify and afford to own two homes at the same time?”  If the client can’t do that financially, then the question has already been answered.  They will have to sell and then figure out where to go, and that may … (2 comments)

 
Karen Briscoe (Huckaby Briscoe Conroy Group - Keller Williams)

Karen Briscoe

McLean, VA

More about me…

Huckaby Briscoe Conroy Group - Keller Williams

Address: 6820 Elm Street, McLean, VA, 22101

Office: (703) 734-0192

Mobile: (703) 582-6818

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog