Fairfax Ridge Condo Weekly Report 3/07/09-3/20/09

MyFairfaxRidgeCondo.com

Relevant Real Estate Information for the Fairfax Ridge Condo Community

INTRODUCTION

First of all. I have a buyer who is looking to buy a 1 bedroom condo here at Fairfax Ridge. If you know of someone thinking about selling, contact me ASAP! This will save you a lot of time in this market.

Second today is a good day ! We are the first to successfully sell a short sale here at Fairfax Ridge in the last 5 + months. Short sales are all over Fairfax Ridge right now. There are lot under contract. Lets hope the banks works with these agents to get these sold !

If you need help selling your condo, contact us today !

As of today (March 20, 2009 11 AM), there are 7 active listings in the MLS and 12 Condos (+4) are currently under contract and 5 Condos have sold in the last 30 days.

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

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

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
11350 Aristotle Dr #7-104 - 14 (DOMP) 1bd/1ba
11352 Aristotle Dr #7-106 - 45(DOMP) 1bd/1ba
11395 ARISTOTLE DR #11-408 - 112(DOMP) 1bd/1ba
11375 Aristotle Dr #9-404 -151 (DOMP) 1bd/1ba
11321 Aristotle Dr #3-301 - 83 (DOMP) 2bd/2ba
11350 Aristotle Dr #7-101 - 7 (DOMP) 2bd/2ba
11345 Aristotle Dr #6-410 - 26 (DOMP) 2bd/2ba
11373 Aristotle Dr #9-307 - 37 (DOMP) 2bd2ba
11361 Aristotle Dr #312 -42(DOMP) 2bd/ 2ba
3851 Aristotle Ct #1-304 -280(DOMP) 2bd/2ba

3851 Aristotle Ct #1-309 - 66 (DOMP) 2bd/2ba - back on the market


I will have the final numbers for these once they close


SOLD

According to MLS, 5 condos sold in the last 30 days .

11353 Aristotle Dr #309 - 65 (DOMP) 3bd / 2ba (SHORT SALE)

Asking Price -$260,000
Sales Price - $262,600
Seller Subsidy - 0

11326 Aristotle Dr #4-301 - 45(DOMP) 2bd/2ba

Asking Price - $329,000
Sales Price - $220,000
Seller Subsidy - 0

11397 ARISTOTLE DR #11-207 - 83 (DOMP) 2bd/2ba

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

11326 Aristotle Dr #4-401 - 11 (DOMP) 2bd/2ba (Bank Owned)

Asking Price - $240,000
Sales Price - $255,000
Seller Subsidy - $5,000

11371 Aristotle Dr #9-113 - 19 (DOMP) 2bd/2ba (Bank Owned)

Asking Price - $235,000
Sales Price - $235,000
Seller Subsidy - $7,050

These sold more than 30 days ago -

-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

-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 bed/2ba
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 bd/2ba
List Price - 244,900 / Close Price - 260,000 / Seller Subsidy - 0

-11397 ARISTOTLE DR #11-105, FAIRFAX, VA 22030 - 36 (DOMP) 2 level, 2bed/2ba
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 January 2009

	2009	2008	% Change
Total Sold $ Volume	$8,645,400	$10,605,650	-18.4%
Avg. Sold Price	$375,887	$407,910	-7.8%
Median Sold Price	$335,000	$365,000	-8.2%
Total Units Sold	23	26	-11.5%
Avg. Days on Market	85	105	-19%
Avg. List Price for Solds:	$413,327	$438,460	-5.7%
Avg. Sale Price as a percentage of Avg. List Price:	90.94%	93.03%

Fairfax Ridge Condos Sold for 2007 vs. 2008



Fairfax Condos Sold for 2007 vs. 2008




EXPIRED or WITHDRAWN There have been 3 listings that have been taken off the market in the last 30 days.


RENTALS

There are currently 11 condos for rent

1bedroom units - 5 available
2bedroom units - 6 available
3bedroom units - 0 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

The best opportunities come and go quikly here at Fairfax Ridge. Look at all the bank owned sales in the past couple months!

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.

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Short Sales at Fairfax Ridge

What is a short sale ?

Alot of people are in this situation, so just because you are dont get disappointed. A short sale is someone whose mortgage is more than the current value of the home.

What do I do ?

Well if you are not having any problems making your payments, then you sit back and wait a couple years.

If you can no longer make your payments, you need to contact us.

Why should I contact Reynolds Team Realty?

If you have been reading my blog you will have noticed that in the last 5+ months NO SHORT SALES HAVE SOLD at Fairfax Ridge.... except ours, which is selling this Friday!

We started the process in December and received a contract right away. 3 months later it is closing. This is quick ! and this is huge for Fairfax Ridge. We have one of the nations best short sale negotiators. They have done hundreds of these in the last couple years.

What are the long term penalties on my credit and buying a home again in the future, if I do a short sale ?

Contact us to personally to get this information. It is different for everyone, but with us as your short shale negotiators, your credit and the possibility of buying again, are going to be much brighter than if you list with some random realtor.

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First Time Home Buyers!

Hey, first-time homebuyer: How does $8,000 from your Uncle Sam sound?

Want an extra $8,000? If you’re a first-time homebuyer then we have a nice surprise for you.

Last fall, the Federal Government introduced a financial incentive to prospective first-time homebuyers — an income tax credit of up to $7,500. The rules were simple: you must have been a first-time homebuyer (as defined by not owning a home in the previous three years) and you met certain income restrictions.

The new $8,000 tax credit is available to those who buy between January 1, 2009 and December 1, 2009. It’s not a deduction, it’s an actual credit. Unlike the $7,500 first-time homebuyer tax credit introduced last summer; this does not need to be repaid.

First timers who qualify can make no more than $75,000 in adjusted gross income if they’re single or $150,000 if filing jointly. The maximum tax credit is $8,000 or 10 percent of the sales price of the home, whichever is less. Three years residence in the property are required. As always, check with your accountant for details and be sure to submit IRS form 5405 when you file your taxes.

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Fairfax Ridge Condo Weekly Report 2/21/09-3/06/09

MyFairfaxRidgeCondo.com

Relevant Real Estate Information for the Fairfax Ridge Condo Community

INTRODUCTION

First of all. I have a buyer who is looking to buy a 1 bedroom condo here at Fairfax Ridge. If you know of someone thinking about selling, contact me ASAP! This will save you a lot of time in this market.

We are seeing bank owned properties alot less now in our market. Not just at Fairfax Ridge. Look at the stats below that prove it. 1 bank owned property currently at Fairfax Ridge. They sell quickly and are coming on the market alot less now.

9 of the 11 condos on the market are short sales. Why is that ? NO short sales have sold in Fairfax Ridge in the last 4+ months. Except OURS! Our 3bedroom / 2bath condo is closing at the end of this month. Why is this ? Because we hired the best short sale negotiator in the country. Wander why your agent is not getting yours sold ? Do they have a professional negotiator working with the bank ? The numbers don't lie.

As of today (March 6, 2009 11 AM), there are 11 active listings in the MLS and 8 Condos (-3) are currently under contract and 3 Condos have sold in the last 30 days.

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

5 - 1 bedroom units ( 5 short sales )
5 -2 bedroom units (3 short sales, 1 regular sales, 1 bank owned)
1 - 3 bedroom unit (short sale)

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
11361 Aristotle Dr #312 -42(DOMP) 2bd/ 2ba
11326 Aristotle Dr #4-301 - 45(DOMP) 2bd/2ba
11353 Aristotle Dr #309 - 65 (DOMP) 3bd / 2ba
11345 Aristotle Dr #6-410 - 26 (DOMP) 2bd/2ba
11373 Aristotle Dr #9-307 - 37 (DOMP) 2bd2ba
3851 Aristotle Ct #1-304 -280(DOMP) 2bd/2ba
11350 Aristotle Dr #7-104 - 14 (DOMP) 1bd/1ba

3851 Aristotle Ct #1-309 - 66 (DOMP) 2bd/2ba

11321 Aristotle Dr #3-301 - 70 (DOMP) 2bd/2ba


I will have the final numbers for these once they close


SOLD

According to MLS, 3 condos sold in the last 30 days .

11326 Aristotle Dr #4-401 - 11 (DOMP) 2bd/2ba (Bank Owned)

Asking Price - $240,000
Sales Price - $255,000
Seller Subsidy - $5,000

11371 Aristotle Dr #9-113 - 19 (DOMP) 2bd/2ba (Bank Owned)

Asking Price - $235,000
Sales Price - $235,000
Seller Subsidy - $7,050

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 January 2009

	2009	2008	% Change
Total Sold $ Volume	$8,645,400	$10,605,650	-18.4%
Avg. Sold Price	$375,887	$407,910	-7.8%
Median Sold Price	$335,000	$365,000	-8.2%
Total Units Sold	23	26	-11.5%
Avg. Days on Market	85	105	-19%
Avg. List Price for Solds:	$413,327	$438,460	-5.7%
Avg. Sale Price as a percentage of Avg. List Price:	90.94%	93.03%

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 12 condos for rent

1bedroom units - 5 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

The best opportunities come and go quikly here at Fairfax Ridge. Look at all the bank owned sales in the past couple months!

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.

Read More

Brinks Home Security System

Brinks Home Security System

We just partnered with Brinks Home Security. This means that if you want a security system we can help you get it for free ! All you have to do is pay the 30-40$ monthly fee.

Contact me asap if you are interested. I will have our Brinks representative contact you.

If you go to Brinks website you will end up paying over 500$ in installation fees. If you go through us, its free!

This is just another way we are helping our clients.

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