I have been doing some pricing analysis on home sales in Belmont Country Club in Ashburn, Virginia. The last three homes to sell in Belmont Country Club were bank owned or relocation company owned homes. All three homes sold at $160-$166 per square foot above grade. I used the above grade square footage as determined by the county tax records. I figured that using the above grade square footage per the tax records would be easiest for consistency and then could add or subtract a dollar amount based on condition, finished basement, upgrades, etc. In September there were several sales of homes that sold for $180-200/sq. ft. above grade and a bank owned home that sold for $159/sq. ft. above grade. Of the homes currently available in Belmont Country Club, I know that at least two homes have offers in. Both of these homes are listed for $190-$195/sq. ft. above grade which supports our analysis. Basically, it looks like if you want to sell a home in Belmont Country Club, the price needs to be below $200/sq. ft. above grade. There are currently homes listed for sale at prices as high as $280/sq. ft. above grade. Obviously, they need to read this blog post.
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Tanya talks about the real estate market in general as well as specific to real estate agents, buyers and sellers in Loudoun County, Virginia.