northern virginia: Year-End Review - How Did 2008 Compare to 2007?
- 01/19/09 07:08 AM
A stimulus package. A Presidential Election. A $7,500 first-time home buyer credit. Historically low interest rates. Increased Loan Limits. How did these policies and changes in 2008 affect our local real estate market? Let's take a look:
The Verdict? Volume went down, prices went down, and time on the market went up. Not a big surprise. But what does this mean heading into 2009? -Opportunities for affordable housing are in the buyers favor-Low interest rates makes affordable housing prices into affordable monthly payments-Opportunities for increased equity years from now are huge We are clearly in a buyers market here … (1 comments)
northern virginia: December 2008 Northern Virginia Real Estate Market Update
- 01/14/09 10:45 AM
Better late than never! Here's the real estate market update for Northern Virginia last month. Total Homes Sales: 1,510, that's 26% more than 2007 Absorption Rate (months to sell through the current inventory): about 5 months, about 2 months less than this time last year Average Sales Price: Down about 22% from December 2007 Average Days on the Market: things sold faster! 92 days this month, versus 103 for 2007 These statistics are for the entire Northern VA area - Arlington County, Fairfax County, the cities of Alexandria, Falls Church, and Fairfax. Also the towns of Herndon, Clifton, and Vienna. The … (0 comments)
northern virginia: A Plea From Your Local Realtor - STOP Reading the Newspaper
- 12/20/08 05:24 AM
I opened the Washington Post this morning to an article about how magnet manufacturers are losing profits because Realtors can't afford to pay for magnets to send to their clients. The article goes on to discuss how many Realtor are leaving the National Association of Realtors this year. I would normally link to the full article, but I DO NOT WANT YOU TO READ IT. Let me explain...
- Many (not all) of those Realtors that are leaving the National Association of Realtors were people who jumped in while the market was hot. All they had to do was stick … (6 comments)
northern virginia: Northern Virginia Real Estate Market Update - November 2008
- 12/18/08 06:32 AM
Now taking a look at the Greater Northern Virginia Real Estate market, let's take a macro view of the market. The follows statistics are for Arlington County, Fairfax County, the cities of Alexandria, Fallls Church, and Fairfax, and the towns of Vienna, Herndon, and Clifton.
What does this mean? We've had MORE sales, in a SHORTER amount of time, and the inventory is lower this month than in 2007. The sales price is less than this time last year - but these are signs of a strong and rebounding market. There was an article in the New York Times that said, we … (0 comments)
northern virginia: Northern Virginia Real Estate Market Update - October 2008
- 11/10/08 06:00 AM
It's Northern Virginia Real Estate Market Update Time! Once again, The Northern Virginia Association of Realtors has published the Year-To-Date Market stats through October 2008 for the following counties and cities: Arlington & Fairfax County, the cities of Falls Church, Alexandria, Fairfax, and the towns of Herndon, Vienna, and Clifton. See stats below:
Total Year to Date Sales2008: 14,9702007: 15,778Total October Sales2008: 1,4572007: 1,123 Average Sales Price2008: $427,4022007: $520,829 Average Days on the MarketOctober 2008: 94October 2007: 89 Absorption Rates (ie. # of months to sell through the current supply of inventory)October 2008: 6.04October 2007: 9.23 I'm always available for more statistics for the … (0 comments)
northern virginia: How Will the President-Elect Change the Washington DC Real Estate Market?
- 11/08/08 11:41 AM
In short - very little. It's funny that the Washington Post featured an article todaydiscussing administration changes and their effects on the D.C. and Northern VA real estate markets. I had lunch today with one of my best friends who happens to work in the West Wing - just like her, many of her fellow West Wing-ers will be out of a job as of January 20th. So inevitably I asked, "so...who's helping the big guys transition to the area?" Her response - "most of them already live here. And the ones that are out of a job in January will … (1 comments)
northern virginia: Northern Virginia Real Estate Market Update - September 2008
- 10/15/08 07:08 AM
Sales reports are finally in for September here in Northern Virginia. This report includes all sales for Fairfax and Arlington counties, Alexandria, Falls Church, Fairfax, Vienna, Herndon, and Clifton. Here's how September wrapped up: Total # of Sales: 1,650Average Days on the Market: 93Absorption Rate: 5.52 months Average Sale Price: $407,748 (down about 23% from 9/07) YTD Average Sales Price: $465,891 (down about 14% from 9/07) Arlington Market: There were 202 sales in Arlington in the month of September. Of those, only 12 were over $1m.Only 68 of the remaining sales were over $500k. What does this mean? High price homes … (0 comments)
northern virginia: Restoring Faith in the Northern Virginia Real Estate Market
- 10/03/08 06:06 AM
Perception is everything. One article that someone happens to read or hear about, may cause some fear about the economy. Add a need for a $700B proposed Bailout plan for the National Economy, and no wonder most Americans fear that we're headed for a 1929 flashback. Here's my arguement for why Northern Virginia homeowners are better off than most. 1. You're near/in in the Capital of the U.S.A. Come January, you're going to have an entirely new influx of people caused by the administration change. People who have been here for years will be selling, new people will be buying. Government agencies … (3 comments)
northern virginia: Labor Day Weekend 2008 in Washington DC and Northern Virginia
- 08/29/08 04:51 AM
I can't believe how fast the summer flew by!! As Labor Day weekend is now upon us, I wanted to wish you all a happy, and safe Holiday weekend! Here's what's on the Calendar of Events for the Nations Capitol for the 2008 Holiday: Labor Day ConcertWho: The National Symphony OrchestraWhat: Free Concert!Where: U.S. Capitol - West LawnWhen: Sunday, August 31, 2008 - 8pm (Gates Open at 5)How: Admission is free! No tickets necessary Hope you all enjoy your long weekend, with many BBQs, sunshine, and swimming!! … (0 comments)
northern virginia: Northern Virginia Real Estate Market Update - July 2008
- 08/12/08 09:09 AM
The stats are in for July 2008, from the Northern Virginia Association of Realtors (NVAR). I did an earlier blog on the Arlington Market, but this for the entire Northern Virginia area that consists of: Arlington & Fairfax County, the cities of Alexandria, Falls Church, and Fairfax; and the counties of Herndon, Vienna, and Clifton.
So it looks like Year To Date, prices are about 10-11% less than they were this time this year. But, it's important to keep in mind that this include the entire Northern VA area, including those hardest hit by losses from Bank Owned properties … (4 comments)
northern virginia: Keller Williams McLean - The Newest KW Addition to Northern Virginia
- 07/16/08 04:24 AM
It's with great pleasure that I present the new Keller Williams office located 6820 Elm St in McLean, VA. I originally joined KW in the Arlington office, but decided to try something new in McLean. The office is growing everyday and I couldn't me more excited to be a part of it. Our Broker - Alicia Brown, and team leader - Jerry Boutcher are both an absolute wealth of knowledge and have been so helpful in the transition and in transactions. In case you're curious about our new office, or about Keller Williams and what our company stands for - … (1 comments)
A stimulus package.
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