Fairfax Ridge Condo Weekly Update 11/01/08-11/07/08

INTRODUCTION

We had some interesting things happen this past week. Read through this update and read my observations at the bottom of the page. Also those thinking of renting. I am working with and have interest from 3 seperate groups. If you are thinking of renting out your two bedroom unit. Email us asap.

As of today (November 7, 2008 12 PM), there are 18 active listings in the MLS and 2 Condos are currently under contract and 2 Condos have sold in the last 30 days.

Here’s the breakdown of all active listings in MLS:

10 - 1 bedroom units (-2) (4 short sales, 3 bank owned, 3 regular sales)
8 -2 bedroom units (-1) (3 short sales, 5 regular sales)


NEW LISTINGS

According to MLS, there were no new listings this week. 3 listings have been withdrawn this past week.

This short sale was under contract the last couple weeks but did not make it through. Short sales are very tough to close and 9 out of 10 times not worth the hastle. Ask us for advice first.

3851 ARISTOTLE CT #1-214, FAIRFAX, VA 22030 - 165+ Days On The Market (DOMP) (1 bedroom)


UNDER CONTRACT

According to MLS, there are 2 condos under contract , 2 of these are bank owned properties.

11353 ARISTOTLE DR #106, FAIRFAX, VA 22030 - 5 Days on the Market (DOMP) (2bedroom)

11345 ARISTOTLE DR #6-311, FAIRFAX, VA 22030 - 15 (DOMP)
(2 bedroom)

I will have the final numbers for these once they close


SOLD

According to MLS, 2 condos sold in the last 30 days (+1). These were bank owned condos.

1 level, 2 bedroom, 2 bathroom -
11371 ARISTOTLE DR #9-213, FAIRFAX, VA 22030 - 61 (DOMP)

List Price - 239,000

Close Price - 239,000

Seller Subsidy - 6,000

3 level, 2 bedroom, 2 bathroom -
11359 ARISTOTLE DR #8-214, FAIRFAX, VA 22030 - 26 (DOMP)

List Price - 244,900
Close Price - 260,000
Seller Subsidy - 0

These sold more than 30 days ago -

2 level, 2 bedroom, 2 bathroom -
11397 ARISTOTLE DR #11-105, FAIRFAX, VA 22030 - 36 (DOMP)

List Price - 267,800
Close Price - 240,000
Seller Subsidy - 7,590


Fairfax Ridge Condos Sold for 2007 vs. 2008



Fairfax Condos Sold for 2007 vs. 2008

EXPIRED or WITHDRAWN

There have been 9 listings that have been taken off the market in the last 30 days.

RENTALS

There are currently 6 condos for rent (-1)

4 condos have been rented out in the past month.

If you need any help finding a rental or listing your condo for rent, please contact us.

We will take care of all the work for you and do background checks on the applicants to make sure they are qualified.


OBSERVATIONS

I posted yesterday the interesting fact for Fairfax Ridge. 13 of the 14 sales this year have been 2 bedroom units. Well it looks like we will be adding two more to this statistic. The 2 condos that are currently under contract are two bedroom units. These are both bank owned units and the bank has priced these to sell and sell quickly. 5 days on the market for the latest one !!

Good news for regular sales it looks like there are no more bank owned 2 bedroom units for the time being.

If you know of anyone wanting to buy in Fairfax Ridge please contact us, we know this Fairfax Ridge market and have helped many families here at Fairfax Ridge.

Be cautious about the short sales on the market. They are a lot of work and 9 out of 10 will not make it and will be forclosed on months down the road. Contact us if you are thinking about buying a short sale. We will explain the process.

Sellers. One of the number one things people look for in a realtor is honesty. Our team will be straight up with you guys and let you know what your home is worth. If you list with us, we will get top dollar for your condo. But if you are upside down and this means you have to rent it out, then we will help you do that. We are always looking out for your best interest. No shady alterior motives here. Our business which comes mostly from referrals can not risk having our clients unhappy with us. All we ask is for you to meet with us and see if we can help you.

Disclaimer: Information was gathered from the MLS and is deemed reliable but not guaranteed.