The Arlington Condominium Report ~ YTD October 2009

By
Real Estate Agent with McEnearney Associates, Inc.

             The Arlington Condominium Sign                                                                          The Arlington Report for YTD October 2009

      Model      # Sold             Sales Range             Ave. Price      Ave. Subsidy

    A  Lower        1                 $300,000              $300,000          $9,750

    B  Upper        8       $260,000 - $295,000      $281,375         $3,795

    C  Lower        6*      $275,000 - $293,000      $284,167          $1,667

    L  Lower        1*                $345,000              $345,000           $ 0

    Upper       4*      $300,000 - $311,000       $306,250         $4,831

 *Excludes a short sale due to the distressed nature of the sale

Data source: MRIS settled transactions 1/01/2009 - 10/31/2009, deemed reliable, but not guaranteed

Compliments of AJ & Jodee Heidmann
YOUR Resident Specialists for The Arlington

There were 3 additional closings in the month of October, which brings the total number of market rate units sold to 20 for the year, though as of November 1st there aren't any more units fully under contract.  This appears to be the result of buyers trying to meet the deadline to qualify for the $8,000 First Time Home Buyer Tax Credit and after early October it is doubtful that a contract would make it all the way to settlement by the  11/30/09 deadline.  Accordingly, the inventory of fully available units has grown from 2 in September to 6 of the 2Bed/1Bath configurations today.

An extension of the tax credit through April 30, 2010, with an expansion to include owners that have owned their current home for at least 5 years, is working it's way through Congress as an attachment to extending unemployment benefits.  It appears to have a good chance of surviving intact with a vote anticipated sometime in the next few weeks.  This would be a boost to the market during the holiday season, which is generally a very slow period for new contracts.  Time will tell and we look forward to keeping you up to date on the happenings in The Arlington.

Respectfully,

AJ Heidmann, ABR, CRS, e-PRO

Cell 703-474-1260 ~ Office 703-518-8300 ~ Fax 703-518-8314 

AHeidmann@CBMove.com

Coldwell Banker Residential Brokerage

310 King Street, Alexandria, VA  22314

Licensed in Virginia 

Posted by

 

AJ Heidmann ~ CRS,  ABR

Cell 703-474-1260 ~ Office 703-717-6324 ~ Fax 703-839-8283

AJ@AJHeidmann.com

www.AJHeidmann.com

McEnearney Associates, Inc.

4720 Lee Highway, Arlington, VA  22207

Licensed in Virginia

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Tags:
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october 2009

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Rainmaker
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John Occhi
Mason Real Estate - Temecula, CA
SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate

Looks like some great local information...and this just drives home my point, "All Real Estate is Local and Your REALTOR Should be Too!"

Nov 04, 2009 02:08 PM #1
Rainmaker
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AJ Heidmann ~ CRS
McEnearney Associates, Inc. - Alexandria, VA
YOUR Alexandria & Arlington, VA Real Estate Expert

John - Thanks for the comment and we couldn't agree with you more on the need for a local agent that knows the area cold.  Best of luck to you out in California.

Nov 11, 2009 04:51 AM #2
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Rainmaker
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AJ Heidmann ~ CRS

YOUR Alexandria & Arlington, VA Real Estate Expert
Ready to find or sell your Northern Virginia home? Let's begin!
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