Nate & The 12:45 Team Did It Again
Call Nate: 571-494-1245

Email Nate - NateJohnson@1245team.com
Nate Johnson is a licensed Realtor serving VA, MD & DC

Wednesday, February 25, 2009

Market Update for NOVA

Ok I wanted to give everyone who visits this website some insight to what we are seeing in the market right now.

This is crucial as things are changing in our market.

In plain English: More people now than ever are taking advantage of this great opportunity to buy. Because of this, Less and Less homes are on the market each day.

But for you to believe me lets look at the facts.

I talked to my Mortgage Lender at Bank of America . He said they are so slammed this month and it has not been like this since 4 years ago!

Why?

Interst rates at record lows
So many homes are affordable
So many bank owned properties at below market values
First Time Home Buyers get $8,000 for buying!

But lets look at the housing facts to verify all this:

Observations from the numbers below

I have been tracking these numbers for months now. This is the first time we have had so many of these northern virginia cities listings, that were active go down and the number of sales go up.

That can't continue to happen for much longer.

I am a full time agent. I see multiple offers on homes every day. I see homes on the market for less than a week. The great deals go fast! They come and go and you have to be ready.

What can you do?

The first step is to get pre qualified. That way if we stumble across one of these gems that is going to have multiple offers and not stay on the market but a few days. You are ready to put an offer down.

This also helps us narrow our search by how much you can afford and how much you want to spend each month.

Contact the best. You can not have some agent who is part time in the business or has very little experience. We just helped our buyers buy a property where there were multiple offers and our offer was 10k LESS than the next offer. Do you think we pulled out all the tricks to win that for our buyer? You better believe it !

Whats your next step?

Contact us

Hard Core Facts

Since most of the readers on this blog are first time home buyers, I will keep the price under 400,000 for our data. Which means the numbers will be lower then if we used any price.

Fairfax

174 Active Listings (-32 from 1 month ago)

In the last 30 days 172 homes are under contract or have sold ! (+43 from 1 month ago)

Centreville

216 active listings (-29 from 1 month ago)

In the last 30 days 238 homes are under contract or have sold ! (+44 from 1 month ago)

Reston

142 active listings (+19 from 1 month ago)

In the last 30 days 132 homes are under contract or have sold ! (+7 from 1 month ago)

Herndon

130 active listings (-46 from 1 month ago)

In the last 30 days 212 homes are under contract or have sold ! (-7 from 1 month ago)

Falls Church

256 active listings

In the last 30 days 213 homes are under contract or have sold!

Arlington

281 active listings (-9 from 1 month ago)

In the last 30 days 150 homes are under contract or have sold ! (+4 from 1 month ago)

Alexandria


Over 500 active listings (Still)

In the last 30 days over 500 homes are under contract or have sold ! (Still)

Mclean/Vienna/Oakton

101 active listings (-30 from 1 month ago)

In the last 30 days 58 homes are under contract or have sold ! (+4 from 1 month ago)






Tuesday, February 24, 2009

Under Contract !




Monday, February 23, 2009

New Stimulus Package

Here is what Barack Obamas New Stimulus Package can mean to you.


$8,000 Tax Credit For First Time Home Buyers

The $8,000 tax credit for first-time home buyers should entice some first-time home buyers to “jump-in” and buy a home, It's a great incentive you can take advantage of and get a nice tax credit and increase your tax return by upto $8,000.
  • Available only to first-time home buyers-(must not owned a home for less than 3 years)
  • The tax credit is not a loan and does not require repayment*

    *If the home is sold within 3-years, the $8,000 tax credit must be re-paid
  • The tax credit reduces the home buyer’s tax liability; if the buyer’s liability is less than $8,000, the remaining credit will be issued as a check
  • Home purchase must be for a primary residence
  • The credit is available on home purchases between January 1, 2009 and December 1, 2009
  • If you are single and make $75,000 or more, or are married and make $150,000 or more, you do not qualify for the tax credit
  • The credit is not eligible if the seller is a relative of the buyer
Home Energy Credit

Tax Incentives for Improving Existing Residential Real Estate

  • Homeowners can recoup up to 30% of the cost of installing energy saving features in their home
  • The credit is valid on up to $1,500 of improvements
  • Over $4 billion was allocated for the Home Energy Credit
  • Examples of improvements: Energy Efficient Windows and Doors, Air Conditioning, Furnaces, Water Heaters

Breakdown of the Stimulus Package’s Expenditures
Tax Relief - $288 Billion
State and Local Fiscal Relief - $144 Billion
Infrastructure and Science - $111 Billion
Protecting the Venerable - $81 Billion
Health Care - $59 Billion
Education and Training - $53 Billion
Energy - $43 Billion
Other - $8 Billion

President Obama will also start outline a plan to help decrease foreclosures and help struggling homeowners meet their current financial commitments. The new plan is part of TARP 2, The 3 step financial Stability Plan involving a government investment of up to $2 trillion dollars. Limited details include analyzing and investing in struggling banks, creating a “bad bank” for purchasing unhealthy assets from financial institutions and investing funds in stimulating business and consumer lending.

Keep an eye on the news for more information. New Buyers can save now and get the right home. I have also been told that if you are a new home buyer and purchase before you do your taxes this year (or get your taxes amended after you have already got them done) you can claim the 8,000 tax credit this year. Please consult your tax professional to varify this. Yet, do that or using the home energy credit can save you alot this year and in the future.

Contact me asap for more questions or if you are interested in getting this $8,000 back for buying a home this year !

Friday, February 20, 2009

Fairfax Ridge Condo Weekly Report 2/07/09-2/20/09

MyFairfaxRidgeCondo.com

Relevant Real Estate Information for the Fairfax Ridge Condo Community

INTRODUCTION

We have had alot of movement here at Fairfax Ridge the last 2 weeks. 11 condos are under contract ! They are moving quickly. Read our observations at the bottom of this report.

As of today (February 20, 2009 11 AM), there are 11 active listings in the MLS and 11 Condos (+5) are currently under contract and 2 Condos have sold in the last 30 days.

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

7 - 1 bedroom units ( 3 short sales, 2 bank owned, 2 regular sales)
3 -2 bedroom units (2 short sales, 1 regular sales)
1 - 3 bedroom unit (short sale)

NEW LISTINGS

According to MLS, there was 3 new listing this week.


UNDER CONTRACT

According to MLS, there are 6 condos under contract , 2 bank owned and 4 short sale.

11353 Aristotle Dr #309 - 65 (DOMP) 3bd / 2ba
3851 Aristotle Ct #1-304 -280(DOMP) 2bd/2ba
3851 Aristotle Ct #1-309 - 66 (DOMP) 2bd/2ba
11373 Aristotle Dr #9-307 - 37 (DOMP) 2bd2ba
11361 Aristotle Dr #312 -42(DOMP) 2bd/ 2ba
11350 Aristotle Dr #7-202 - 227 (DOMP) 1bd/1ba
11326 Aristotle Dr #4-301 - 45(DOMP) 2bd/2ba
11345 Aristotle Dr #6-410 - 26 (DOMP) 2bd/2ba
11326 Aristotle Dr #4-401 - 11 (DOMP) 2bd/2ba
11321 Aristotle Dr #3-301 - 70 (DOMP) 2bd/2ba
11371 Aristotle Dr #9-113 - 19 (DOMP) 2bd/2ba

I will have the final numbers for these once they close


SOLD

According to MLS, 2 condos sold in the last 30 days .

11305 Aristotle Dr #2-204 - 79 (DOMP) 1bd/1ba (Bank Owned)

Asking Price - $194,500
Sales Price - $167,000
Seller Subsidy - $0

3851 Aristotle Ct #1-418 - 102 (DOMP) 1bd/1ba (Bank Owned)

Asking Price - $174,900
Sales Price - $174,900
Seller Subsidy - $5,247

These sold more than 30 days ago -

-11347 Aristotle Dr #6-106 - 190 (DOMP) 2bd/2ba (Bank Owned)

Asking Price - $239,000 / Sales Price - $227,000 / Seller Subsidy - $0

-11339 Aristotle Dr #6-215 - 66 (DOMP) 2bd/2ba (Bank Owned)

Asking Price - $279,900 / Sales Price - $250,000 / Seller Subsidy - $0

-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 - Regular Sale

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

-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


22033

These stats are for all real estate in the 22033 zip code for the Month of December
2008 2007 % Change
Total Sold $ Volume $11,625,825 $14,391,987-19.2%
Avg. Sold Price$400,891 $423,294 -5.2%
Median Sold Price $319,900 $4410,000-21.9%
Total Units Sold 2934 -14.7%
Avg. Days on Market11289 25.8%
Avg. List Price for Solds: $461,292 $454,655 1.4%
Avg. Sale Price as a percentage of Avg. List Price: 86.91% 93.10%


Fairfax Ridge Condos Sold for 2007 vs. 2008



Fairfax Condos Sold for 2007 vs. 2008




EXPIRED or WITHDRAWN There have been 5 listings that have been taken off the market in the last 30 days.


RENTALS

There are currently 11 condos for rent

1bedroom units - 4 available
2bedroom units - 6 available
3bedroom units - 1 available

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


OBSERVATIONS

Notice how there have not been any closed short sales in long time. We are about to be the first. Our 3bd/2ba condo is under contract and being negotiated and everything looks good. We will keep you updated. Short sales are tough, but when you have professional negotiators like we do, good things happen.

6 of the 11 under contract are short sales. Maybe 2 of those will actually close. Ours will be one of them.

All of the rest of the condos that are selling quickly here are bank owned.

If you are thinking about buying in the next 3 months we would be honored to work with you ! Shoot us an email

Keep checking back each Friday for your updated market report for Fairfax Ridge



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






Thursday, February 19, 2009

Fairfax Ridge Condo Tour

On Monday at 4pm I am hosting another Fairfax Ridge Condo Tour.

Email me to get more information and where to meet.



First Time Home Buyers!

The Government just passed a bill giving First Time Home Buyers $8,000 for buying a home this year.

Contact me asap for more info and how you can take advantage of this and the low interest rates.
How can you pass up such a great time to buy ??

Monday, February 9, 2009

Free TGIF Meal !

Thats right. Click on the link below for a free buy one entre get one entre FREE from TGIF

I have already used this coupon twice !

Enjoy this gift from us

Click on the link below for a free buy one entre get one free entre from TGIF :)

http://www.angelfire.com/art2/saracarol/backup/TGIFridaycoupon.pdf

Friday, February 6, 2009

Fairfax Ridge Condo Weekly Report 1/17/09-2/06/09

MyFairfaxRidgeCondo.com

Relevant Real Estate Information for the Fairfax Ridge Condo Community

INTRODUCTION

I did not have a weekly report out last week because honestly this market is getting crazy right now. I am working with 4-5 buyers and just had 2 of them compete in multiple offers on homes. We negotiated and it looks like we got both of them !

There are so many buyers out right now looking its crazy. I know the media says this is bad market well the NOVA market is different. I see it everyday and homes going off the market very quickly and multiple offers on homes. There are some great steals and first time home buyers and investors are taking advantage.

As of today (February 6, 2009 9 AM), there are 15 active listings in the MLS and 6 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:

7 - 1 bedroom units ( 3 short sales, 2 bank owned, 2 regular sales)
7 -2 bedroom units (4 short sales, 2 regular sales, 1 bank owned)
1 - 3 bedroom unit

NEW LISTINGS

According to MLS, there was 1 new listing this week.


UNDER CONTRACT

According to MLS, there are 6 condos under contract , 2 bank owned and 4 short sale.

11350 Aristotle Dr #7-202 - 227 (DOMP) 1bd/1ba
11326 Aristotle Dr #4-301 - 45(DOMP) 2bd/2ba
11345 Aristotle Dr #6-410 - 26 (DOMP) 2bd/2ba
11326 Aristotle Dr #4-401 - 11 (DOMP) 2bd/2ba
11321 Aristotle Dr #3-301 - 70 (DOMP) 2bd/2ba
11371 Aristotle Dr #9-113 - 19 (DOMP) 2bd/2ba

I will have the final numbers for these once they close


SOLD

According to MLS, 2 condos sold in the last 30 days .

11305 Aristotle Dr #2-204 - 79 (DOMP) 1bd/1ba (Bank Owned)

Asking Price - $194,500
Sales Price - $167,000
Seller Subsidy - $0

3851 Aristotle Ct #1-418 - 102 (DOMP) 1bd/1ba (Bank Owned)

Asking Price - $174,900
Sales Price - $174,900
Seller Subsidy - $5,247

These sold more than 30 days ago -

-11347 Aristotle Dr #6-106 - 190 (DOMP) 2bd/2ba (Bank Owned)

Asking Price - $239,000 / Sales Price - $227,000 / Seller Subsidy - $0

-11339 Aristotle Dr #6-215 - 66 (DOMP) 2bd/2ba (Bank Owned)

Asking Price - $279,900 / Sales Price - $250,000 / Seller Subsidy - $0

-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

-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


22033

These stats are for all real estate in the 22033 zip code for the Month of December
2008 2007 % Change
Total Sold $ Volume $11,625,825 $14,391,987-19.2%
Avg. Sold Price$400,891 $423,294 -5.2%
Median Sold Price $319,900 $4410,000-21.9%
Total Units Sold 2934 -14.7%
Avg. Days on Market11289 25.8%
Avg. List Price for Solds: $461,292 $454,655 1.4%
Avg. Sale Price as a percentage of Avg. List Price: 86.91% 93.10%


Fairfax Ridge Condos Sold for 2007 vs. 2008



Fairfax Condos Sold for 2007 vs. 2008




EXPIRED or WITHDRAWN There have been 5 listings that have been taken off the market in the last 30 days.


RENTALS

There are currently 11 condos for rent

1bedroom units - 4 available
2bedroom units - 6 available
3bedroom units - 1 available

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


OBSERVATIONS

Ok so we saw two more bank owned condos sell at excellent prices ! One was an all cash deal so you know that was an investor taking advantage.

We now have 4 short sales under contract. There is a good chance these will be back on the market soon. You have to make sure you have a good real estate team that has negotiations with the bank. If not, you are just wasting your time. Our team is almost done successfully negotiated our short sale. It is the only 3bd unit in Fairfax Ridge that will have sold in some time. We will get it sold at 262k We have had multiple offers and our negotiators are almost done. We will definitely keep you posted.

You will also notice the two condos that sold this past week were 1bedroom units ! FINALLY !!!! haha that is excitement because in the last year 16- 2bedroom units have sold, 1 - 3bedroom unit, and now 2 - 1bedroom units. Took long enough but look at the prices... under 170k

If you are thinking about buying in the next 3 months we would be honored to work with you ! Shoot us an email or text to 703-725-2929

Keep checking back each Friday for your updated market report for Fairfax Ridge



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