Nate & The 12:45 Team Did It Again
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Nate Johnson is a licensed Realtor serving VA, MD & DC

Friday, December 19, 2008

Fairfax Ridge Condo Weekly Update 12/13/08-12/19/08


We had a lot of movement over the last 2 weeks at Fairfax Ridge. I missed last weeks blog because I was in Denver. A bunch of us went up to Vail and Beaver Creek to snowboard and they had over 25 in of snow the 3 days we were there !

We just listed anther short sale at Fairfax Ridge. If you have any questions about selling your home for less than what your mortgage is... contact us asap !

As of today (December 19, 2008 10 AM), there are 21 active listings (+5) in the MLS and 3 Condos (-1) 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 ( 4 short sales, 3 bank owned, 3 regular sales)
10 -2 bedroom units (4 short sales, 4 regular sales, 2 bank owned)
1 - 3 bedroom unit


According to MLS, there was 5 new listing this week.


According to MLS, there are 3 condos under contract , 2 bank owned and 1 short sale.

11321 Aristotle Dr #3-301 - 70 (DOMP) 2bd/2ba
11371 Aristotle Dr #9-113 - 19 (DOMP) 2bd/2ba
11347 Aristotle Dr #6-106- 190 (DOMP) 2bd/2ba

I will have the final numbers for these once they close


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

11345 ARISTOTLE DR #6-311 - 15 (DOMP) (2 bd/1ba) Bank Owned

List Price - $219,900
Sales Price - $225,000
Seller Subsidy - 0

11353 ARISTOTLE DR #106 - 5 Days on the Market (DOMP) (2bedroom)
(This one had multiple offers and went above asking price) Bank Owned

List Price- $234,000
Sold Price -$250,000
Seller Subsidy - $0

11335 Aristotle Dr #5-215 - 117 (DOMP) 3 level, 2 bedroom, 2 bathroom

List Price - 329,900
Sold Price - 250,000
Seller Subsidy - 0

These sold more than 30 days ago -

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

List Price - 239,000
Close Price - 239,000
Seller Subsidy - 6,000

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

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

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

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


These stats are for all real estate in the 22033 zip code for the Month of November
2008 2007 % Change
Total Sold $ Volume $11,624,023 $19,439,225-40.2%
Avg. Sold Price$387,467 $431,983 -10.3%
Median Sold Price $362,500 $420,000-13.7%
Total Units Sold 3045 -33.3%
Avg. Days on Market7069 -1.4%
Avg. List Price for Solds: $407,368 $466,933 -12.8%
Avg. Sale Price as a percentage of Avg. List Price: 95.11% 92.51%

Fairfax Ridge Condos Sold for 2007 vs. 2008

Fairfax Condos Sold for 2007 vs. 2008

EXPIRED or WITHDRAWN There have been 4 listings that have been taken off the market in the last 30 days.


There are currently 11 condos for rent

1bedroom unit - 3 available
2bedroom units - 7 available
3bedroom units - 1 available

4 condos have been rented out in the past month.

We are seeing competing offers on these rentals surprisingly enough. Make sure you have a good agent to negotiate.

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. We are also a fully licensed property management group. Ask us more about this and how this benefits you !


We saw 5 listings come on the market here in the last 2 weeks and all of them were short sales. Meaning these people all owe more than the current market will sell their home for. We are working with owners just like your self and would be honored to help you in this situation.

If you have to short sell. Use an experienced realtor that knows how to sell short sales and has a team of professionals negotiators to negotiate with the bank. We have all this and we just ask that you consider interviewing us first before you make your decision on which realtor you are going to use.

As far as sales in the last couple weeks. Only the bank owned properties are selling here. All the regular sale owners are reluctant to drop their price to the current market value and will continue to sit on the market. We will continue to see more short sales on the market.

There are some great opportunities to buy here at Fairfax Ridge. Especially with the interest rates at an almost all time low! If the interest rates were to go back up to normal around 6.5% your payments would increase over 200$ a month for 30 years! Now is the time to buy if you have 3-4% to put down. Roughly 10k

Contact us to see if we can help you

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