Loudoun County Horse Farms and Country Homes Market Report for 2009
2009 was a difficult year for the real estate industry. Foreclosures and short sales were still flooding the market, however, with the home buyer tax credit, we saw an upswing in buyers. This market report was produced to give some insight into horse farms and country property sales in Loudoun County. Its starts with properties which have a minimum acreage of 3 acres and has no maximum acreage.
In 2008, I produced a similar report for myself, however, did not publish it. I reviewed every home which closed in 2008 with 3+ acres and noticed that Loudoun County 2008 Farm and Country Home Sales showed an interesting trend. The farms and country properties which sold in 2008 with 3+ acres, almost across the board sold for about a $100,000 less than their tax assessed values. There were some exceptions, however, not many. So, when 2009 rolled around, I wanted to keep an eye on the comparison of closed prices vs. tax assessments in Loudoun County for country homes and farms...What I found was rather interesting. Approximately 59% of Loudoun County farms and country homes sold below their tax assessed value. But interestingly enough, out of that 59%, the gap had closed dramatically between the closed price and the tax assessed price. This is great news for sellers!
What happened to the other 41% of homes? They sold above the tax assessed price. Why did some homes sell above the tax assessment and some didn't? What was the difference? While I haven't reviewed every home that sold over its tax assessed value, I can say from previewing many of the homes, that there were differences...Things like exceptional horse property setups made a huge difference. As well as the usual above average curb appeal, interior kitchen and bath upgrades, acreage, location, etc....if you are interested in a more detailed analysis, please contact me at SonjaAdams@verizon.net to discuss this further.
Click here for a link to the 2009 Loudoun Horse County Farm and Country Property homes sales with 3+acres :http://docs.google.com/fileview?id=0B0_-Jgvjes-POTI5YjBlODItMjc3ZS00ZjdlLWIzZjktZmE5NzdlMTFlZTg0&hl=en
So, what does this mean to you if you are planning on buying or selling a home with some acreage in Loudoun? Does this mean that if you have a home to sell, you absolutely won't be able to sell it above the assessed value? No, it does not mean that. But it does mean that you need to work with an agent who knows your country property and horse farms in your area...one who follows what is sold, what is active and can bring to the table the knowledge needed to get your home sold. Call Sonja at 703-963-7407 for a complete market analysis of your property with a marketing plan to sell your home!
For the buyer looking for a country property, you need an agent who knows the market, knows where the type of property is that you are looking for and who can help you through the entire process of purchasing your home. Are you an equestrian? Do you want to be in a horsey area with great ride-out ? Call Sonja - your equestrian specialist - for your real estate needs at 703-963-7407. Or just looking for a home with some land in loudoun? Sonja can help with that as well.
Sonja Adams - Your Loudoun County Equestrian Real Estate Specialist
Samson Properties, LLC
14526 Lee Road, #100
Chantilly, VA 20151