real estate: The DMV housing market is ON FIRE! | Market Report: March 2024 Week 2 - 03/13/24 02:56 PM
Hey there, house hunters! Let's talk about this week's housing market report and see where we're at.
Last weekend, while I was busy showing homes around 12:15, something remarkable caught my eye. An open house slated for 1:00 in Ashburn, VA had already drawn a crowd of 30 eager house-hunters. Despite some wild weather, the turnout was impressive, leading to a staggering 15 offers on the property.
Chatting with the realtor, we learned that the home, listed at around $150,000 above the listing price as the highest offer. It might sound intense, but here's the silver lining: I've noticed a growing inventory, especially … (1 comments)

real estate: Don't Pack Too Early: A Home Selling Lesson! - 12/05/23 10:14 AM
Selling your home is exciting, but there's a common mistake to avoid. Imagine signing the deal and rushing to pack, only to face a big problem – the house is valued $50,000 less than expected.
Now, you're stuck with tricky choices: cancel the deal and talk again with the buyer (which might not work), or put the house back on the market, telling everyone about its issues.
The lesson here? Listen to your realtor! They'll tell you when it's safe to start packing. Wait for the green light, so you don't end up with a messy situation. Selling a home is a step-by-step … (3 comments)

real estate: Northern Virginia Housing Market Report - November 2023 Week 3 - 11/15/23 01:49 PM
Curious about the DC Metro housing market? Here are 3 key factors you NEED to know! From unemployment rates to monthly supply, find out why it’s thriving!
1. Unemployment Rate:In Northern Virginia, job stability is a big deal. Despite things like government issues and worrying news, the number of people without jobs stays consistently low. This is a good sign for the local housing market because it shows that people here are generally secure in their jobs.
2. Interest Rates:Think of interest rates like the price tag on borrowing money for a house. Right now, the tag says less than 7.5%, and it's … (2 comments)

real estate: JUST SOLD! 21809 Kelsey Sq #21809, Ashburn, VA 20147 - 11/14/23 10:15 AM
Welcome to your new home in the heart of the city! This recently sold 3-level townhome-style condo offers a comfy and practical living space in a gated community.
Main Level Highlights:
Nice wood floors throughout the home. Kitchen is great for cooking with a new island and lots of storage. Dining room for family gatherings. Lots of natural light in the family room with a fireplace. Upper & Lower Level Features:
Lower level features a room for work or extra living space, while the upper level  main bedroom is a comfy escape with a big closet and private bathroom. It also has another … (3 comments)

real estate: How to Escape the Accidental Landlord Situation - 10/31/23 07:30 PM

Have you ever got into the "accidental landlord" situation? You might have landed in this situation due to a low interest rate, but the idea of being a landlord isn't your cup of tea.
Let me tell you astory involving a property in Aldie. The owner was determined to move on from their landlord responsibilities. Our solution? We connected them with a buyer who was interested in the property subject to the existing lease. The process was smooth, including the transfer of the security deposit.
The outcome was a win-win situation. Our investors, who were actively seeking opportunities to expand their investment portfolio, … (2 comments)

real estate: Northern Virginia Housing Market Report - October 2023 Week 3 - 10/25/23 09:05 AM

Interest rates are on the rise, and homebuying activity is evolving in the Midway DC metro housing market. According to Bright MLS, days on the market have increased, and showings have dropped. However, the median home sales price has reached a record new level. The short answer to this puzzle is that we are still dealing with a tight inventory.
So, if you're a home seller, consider getting your property on the market now instead of waiting for the spring of 2024 (a nod to the future!). Homebuyers, take note – new construction is booming. I recently visited new construction in Loudon … (1 comments)

real estate: Buying a Home? Consider these Factors! - 09/10/23 06:43 AM

Are you ready to take the exciting journey of buying a new house? Before you start packing your bags and dreaming about interior designs, let's dive into the essential factors you need to consider to make the right choice. 
1. LocationStart by evaluating the neighborhood. Is it safe, convenient, and close to your work or important amenities? Consider the future development potential of the area as well.
2. AppliancesTake note of the condition and age of appliances like the HVAC system, water heater, and kitchen appliances. Replacing old appliances can add to your overall cost, so be aware of these things.
3. Reason for SaleKnowing why … (5 comments)

real estate: Condo Fees 101: What You Need to Know Before Buying - 06/22/23 07:01 AM

Are you thinking about buying a condo? It's an exciting venture, but there are important things you should know before taking the plunge. In this blog post, we will discuss one crucial aspect of condo ownership that often catches buyers off guard: condo dues. These recurring fees can significantly impact your monthly expenses and should be thoroughly understood before making a decision. Let's dive in!
Understanding Condo DuesCondo dues are a vital part of owning a condominium. They cover various expenses associated with maintaining the building and its amenities. It's essential to be aware that these fees can vary widely from one … (1 comments)

real estate: Dulles Airport Noise: A Homebuyer's Guide to Northern Virginia - 05/09/23 09:00 AM

Are you considering purchasing a home in the vicinity of Dulles International Airport? The noise levels in nearby cities and suburbs, such as Brambleton, Ashburn, South Riding, Sterling, Reston, and Herndon, have become a popular topic of discussion among potential homebuyers. With new runways being added, noise pollution concerns have resurfaced in various Facebook groups and news media outlets, prompting many to ponder whether investing in a home in these areas is a wise choice.
According to the Federal Aviation Administration (FAA), the acceptable noise level threshold is 65 decibels during the day and 55 decibels in the evening. However, some neighborhoods, … (1 comments)

real estate: Northern Virginia Housing Market Report - May 2023 Week 1 - 05/03/23 08:48 AM

Are you a homebuyer, seller, or landlord in the Northern Virginia area? Stay informed with our midweek market report as we explore the latest trends in the Fairfax, Loudon, and Prince William counties. This week, we've experienced some surprising fluctuations in the local housing market, and we're keeping an eye on the Fed's decision regarding interest rates. Let's dive in!
Market Fluctuations:
Recently, we've seen the housing market in Northern Virginia shift from hot to cold in certain pockets, neighborhoods, and specific home styles. With the Fed's decision on interest rates coming up, concerns about unemployment and bank troubles have contributed to an … (4 comments)

real estate: Let's Talk Mortgage: State Rankings for Monthly Mortgage - 05/01/23 07:12 AM

One factor that significantly impacts our budgets and overall cost of living is the average monthly mortgage payment. This expense varies from state to state and influences how much one needs to earn to keep up with not only the mortgage but other expenses as well. With that in mind, let's take a look at the monthly mortgage rankings by state.
LendingTree reveals the top five states with the highest average monthly mortgage payments as follows:
California - $3,568
Hawaii - $3,249
New Jersey - $3,006
Massachusetts - $2,860
Washington - $2,665
Although Maryland and Virginia don't top the list, they rank 8th and 10th, respectively. Maryland's average … (2 comments)

real estate: Seller FAQ: When is the Best Time to Sell on the Market? - 04/13/23 09:34 AM

When it comes to selling your home in Northern Virginia, one of the most frequently asked questions is about the best time to sell. While there are various strategies and steps out there that talk about the optimal time to sell, the truth is that there is no one-size-fits-all answer to this question. Ultimately, the best time to sell your home depends on a number of factors, including your current situation and the current state of the housing market.
Here are some key things to consider when trying to determine the best time to sell your home in Northern Virginia:
Your Current Situation: … (1 comments)

real estate: FAQ #4: Rates are so High, Should I Wait to Buy the Right Home? - 03/21/23 07:30 AM

Are you thinking about buying a new home but feel like rates are too high? It's a common concern among homebuyers, but the truth is that waiting for the right moment may not always be the best strategy. In our industry, we have a saying that you should "date the rate and marry the house." What does that mean? Essentially, it means that you should accept the interest rate you are offered and buy the home you want, rather than waiting for rates to drop.
But before you make any decisions, it's essential to consider your financial situation carefully. Make sure you're … (1 comments)

real estate: FAQ #4: Should I Buy Now or Wait for the Market to Cool Down? - 03/17/23 10:03 AM

As a real estate agent in Northern Virginia, one of the most common questions I get from homebuyers is whether they should buy now or wait for the market to cool down. It's a valid concern, especially when we're seeing record-high prices and low inventory in many areas.
However, the answer to this question is not straightforward. The truth is that no one can predict when the market will shift, how much it will change, or where it's going to lead to. Anyone who claims to have a crystal ball and knows the exact timing of the market is simply making a … (1 comments)

real estate: FAQ #5: How Low of an Offer Can I Make in a Home? #homebuying - 03/16/23 08:29 AM

If you're a homebuyer in Northern Virginia, you likely have a lot of questions about the process, including how low of an offer you can make on a home. While there's no one-size-fits-all answer to this question, there are a few factors to consider that can help you make an informed decision.
What type of property are you buying?
As mentioned, the type of property you're looking to purchase can have a big impact on how low of an offer you can make. In a condo market where the inventory is higher and the market is softer, you may have more leverage to … (1 comments)

real estate: ALWAYS Check the Local Market Statistics before Buying! - 11/22/22 11:18 AM

"Nobody wants to catch a falling knife"
This is what our buyers are thinking right now in the current national housing market situation. While it's reasonable to think this way considering all factors, you have to realize that it isn't always the case when it comes to the local market. For some place like the Fairfax and Loudoun counties constantly being ranked as one of the richest counties in the country, this is where you can experience a better housing market situation compared to other places. Always make sure to check the local statistics before making your decision.
Want to know more about … (0 comments)

real estate: The BEST Strategy in Selling Your Home in This Market! | Reverse Offer - 11/03/22 02:11 PM
Struggling to sell your home in today's market? Well, worry no more! Here's one great strategy that you and your realtor can use in order to sell that home to the best buyers out there.
Usually, buyers do all the efforts in coming up with an offer to a home that they really want. However, in this market, buyers control the whole thing and sometimes they just can't decide whether or not they'll make an offer.
This is where the Reverse Offer strategy comes in. The selling agent and seller team up and talk about the strengths and all of the great points … (1 comments)

real estate: WORST ADVICE: Listening to your Relatives way too much - 03/17/22 01:29 PM

Oftentimes you'll hear your parents (or relatives) say "do this, do that..." when it comes to your life's biggest decisions. All they want is the best for you, and they care about you so much -- and we respect them for it.
But sometimes, not all things can be based from past experiences alone. This includes buying/selling a home. For the most part, your parents would've only bought one or two houses in their lifetime.
Considering that those purchases happened way back in the past, the things they experienced and the way they look at the whole idea of real estate is outdated.
As … (2 comments)

real estate: Real Estate Alphabet Soup: K for Kick-Out Clause - 10/11/21 01:54 PM

Another one! Welcome to another episode of Real Estate Alphabet Soup where we understand more about real estate one letter at a time. For this entry, we're now at letter K.
K for Kick-Out ClauseKick-out clauses are like clauses where one party can give a notice either to remove the contingency in place or to avoid the contract. In my experience, the common one in the DMV area we see is the home of choice or home of sale contingency where the buyer won't purchase a home until they sell their home, or the other way around -- where the seller will … (0 comments)

real estate: DC Metro housing market starts strong in 2015 - 02/11/15 09:22 PM
January home prices, contracts and closed sales up over 2014 levels
 
 
OVERVIEW
The Washington DC Metro housing market started 2015 on a good note, with increases in sales, prices, new contracts and inventories compared to January 2014.  Closed sales increased by 4.5% from January 2014, and all property segments increased year-over-year.  While single-family detached prices remained flat at $450,000, townhomes and condos increased by 1.4% and 4.7% respectively.
The number of new contracts increased 6.2% from January 2014, reaching their highest January-level since 2011 at 3,720, just slightly above the five-year average of 3,715, but well above the ten-year … (1 comments)

 
Ritu Desai 703-625-4949, Northern Virginia,Washington DC & Maryland Realtor (Samson Properties)

Ritu Desai 703-625-4949

Northern Virginia,Washington DC & Maryland Realtor

Chantilly, VA

More about me…

Samson Properties

Address: 14526 Lee Road, Suite 100, Chantilly, VA, 20151

Office: 703-378-8810

Mobile: 703-625-4949

Reviews on Zillow
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"Ritu Desai is simply amazing. Her amazing nature is what led me to contact with her and help me to purchase my new home. Ritu Desai made me feel like ... more "
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by Francis J. Wilson
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"I worked with Ritu Desai to sell my house in Loudoun county. This was my first time selling property and Ritu Desai made it easy and made sure I was ... more "
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