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

Thursday, February 25, 2010

Fairfax Ridge Townhomes and Condos Weekly Sales Report for 1/20/10 - 2/25/10

MyFairfaxRidgeCondo.com

Relevant Real Estate Information for the Fairfax Ridge Condo Community

INTRODUCTION

If you have any questions about short sales or would like to find out how much your home would sell for right now.

Contact me

As of today (February 25, 2010 12 PM), there are  10 active homes in the MLS and 18 homes are currently under contract and 2 homes have sold in the last 30 days.

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

4- 1 bedroom units
2- 2 bedroom units
4 - 3 bedroom unit

NEW LISTINGS
According to MLS, there was 2 new listing this week.
3851 Aristotle Ct #1-316 - 1bd/1ba
11347 Aristotle Dr #6-309 - 3bd/2ba
UNDER CONTRACT

According to MLS, there are 14 condos under contract and 4 townhomes under contract, 3 bank owned and 10 short sale.

14567 Truro Parish Ct - 3bd/3ba (66 DOMP).
11397 Aristotle Dr #11-209 - 3bd/3ba (6 DOMP).
11375 Aristotle Dr #9-303 - 2bd/2ba (7 DOMP).
3851 Aristotle Ct #1-109 - 2bd/2ba (67 DOMP).
11352 Aristotle Dr #7-305 - 2bd/2ba (25 DOMP).
3851 Aristotle Ct #1-407 - 2bd/2ba (34 DOMP).
11377 Aristotle Dr #10-10 - 2bd/2ba (2 DOMP).
11305 Aristotle Dr #2-104 - 1bd/1ba (39 DOMP).
11395 Aristotle Dr #210 - 1bd/1ba (12 DOMP).
11352 Aristotle Dr #7-106 - 1bd/1ba (45 DOMP).
11321 Aristotle Dr #3-302 - 1bd/1ba (4 DOMP).
11320 Aristotle Dr #4-406 - 1bd/1ba (81 DOMP).
11329 Aristotle Dr #5-211 - 2bd/1ba (274 DOMP).
3851 Aristotle Ct #1-203 - 2bd/2ba (8 DOMP).
11345 Aristotle Dr #6-410 - 2bd/2ba (26 DOMP).
4683 Carisbrooke Ln - 3bd/4ba (17 DOMP).
6559 Parish Glebe Ln - 3bd/4ba (17 DOMP).
5621 Jarist Dr - 5bd/4ba (4 DOMP).

I will have the final numbers for these once they close


SOLD

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

4673 Carisbrooke Ln - 3bd/4ba (11 DOMP) - Regular Sale
Asking Price -$395,000 - Sales Price -$427,000 - Seller Subsidy - $8,667.16

4659 Carisbrooke Ln - 3bd/4ba (64 DOMP) - Regular Sale
Asking Price -$469,900 - Sales Price -$455,000 - Seller Subsidy - $9,000


SOLD over 30 days
11329 Aristotle Dr #5-213 - 2bd/2ba (12 DOMP)  - Short Sale (Took 7 months to close)
Asking Price -$229,000 - Sales Price -$210,000 - Seller Subsidy  - 0

11329 Aristotle Dr#5-308 - 2bd/2a (20 DOMP)  - Short Sale (Took 3 months to close)
Asking Price - $229,000 - Sales Price - $230,000 - Seller Subsidy - $3,450

11345 Aristotle Dr #6-313 - 20(DOMP) 2bd/2ba - Regular Sale
Asking Price - $245,000 - Sales Price - $240,000 - Seller Subsidy - $0

11351 Aristotle Dr #8-402 - 6 (DOMP) 1bd/1ba - Short Sale (Took 6 months to close)
Asking Price - $169,000 - Sales Price - $180,000 - Seller Subsidy - $4,417

3851 Aristotle Ct #1-305 - 1bd/1ba (181 DOMP) - Short Sale (Took 7 months to close)
Asking Price - $165,000 - Sales Price - $165,000 - Seller Subsidy - $3,000

11373 Aristotle Dr #309 - 3bd/2ba (6 DOMP) - Bank Owned

Asking Price - $254,900 - Sales Price - $256,000 - Seller Subsidy -$8,960

11345 Aristotle Dr#6-308 -2bd/2ba (14 DOMP) - Bank Owned
Asking Price -$224,700 - Sales Price -$238,000 - Seller Subsidy -$0


Click below for all Fairfax Ridge Condo sales for 2009Sales More Than 30 Days ago


22033
These stats are for all real estate in the 22033 zip code for the Month of August




Fairfax Ridge Condos Sold for 2007 vs. 2008 vs 2009





Fairfax Condos Sold for 2007 vs. 2008 vs. 2009




EXPIRED or WITHDRAWN There have been 2 listings that have been taken off the market in the last 30 days.


RENTALS

There are currently 6 condos for rent

1bedroom units - 4 available
2bedroom units - 2 available
3bedroom units - 0 available

9 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

If you are thinking about buying or selling 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.


Friday, February 19, 2010

Fairfax Ridge Townhomes and Condos Weekly Sales Report for 1/30/10 - 2/19-/10

MyFairfaxRidgeCondo.com

Relevant Real Estate Information for the Fairfax Ridge Condo Community

INTRODUCTION

If you have any questions about short sales or would like to find out how much your home would sell for right now.

Contact me

As of today (February 19, 2010 12 PM), there are  6 active homes in the MLS and 15 Condos are currently under contract and 0 Condos have sold in the last 30 days.

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

3- 1 bedroom units
2- 2 bedroom units
1 - 3 bedroom unit

NEW LISTINGS
According to MLS, there was 1 new listing this week.
11389 Aristotle Dr #11-215 - 2bd/2ba

ACTIVE LISTINGS

11350 Aristotle Dr #7-104 - 1bd/1ba
11320 Aristotle Dr #4-306 - 1bd/1ba
11352 Aristotle Dr #7-308 - 1bd/1ba
11389 Aristotle Dr #11-215 - 2bd/2ba
11347 Aristotle Dr #6-409 - 3bd/2ba
11365 Aristotle Dr #215 - 2bd/2ba

UNDER CONTRACT

According to MLS, there are 15 condos under contract , 3 bank owned and 10 short sale.

11397 Aristotle Dr #11-209 - 3bd/3ba (6 DOMP)
11375 Aristotle Dr #9-303 - 2bd/2ba (7 DOMP)
3851 Aristotle Ct #1-109 - 2bd/2ba (67 DOMP)
11352 Aristotle Dr #7-305 - 2bd/2ba (25 DOMP)
3851 Aristotle Ct #1-407 - 2bd/2ba (34 DOMP)
11377 Aristotle Dr #10-10 - 2bd/2ba (2 DOMP)
11305 Aristotle Dr #2-104 - 1bd/1ba (39 DOMP)
11350 Aristotle Dr #7-104 - 14 (DOMP) 1bd/1ba
11395 Aristotle Dr #210 - 12 (DOMP) 1bd/1ba.
11352 Aristotle Dr #7-106 - 45(DOMP) 1bd/1ba
11321 Aristotle Dr #3-302 -4 (DOMP) 1bd/1ba
11320 Aristotle Dr #4-406 - 81(DOMP) 1bd/1ba
11329 Aristotle Dr #5-211 - 274 (DOMP) 2bd/1ba
11353 Aristotle Dr #8-307- 1001 (DOMP)2bd/2ba
3851 Aristotle Ct #1-203 - 8 (DOMP) 2bd/2ba
11345 Aristotle Dr #6-410 - 26 (DOMP) 2bd/2ba


I will have the final numbers for these once they close


SOLD

According to MLS, 0 condos sold in the last 30 days .

11329 Aristotle Dr #5-213 - 12 (DOMP) 2bd/2ba - Short Sale (Took 7 months to close)
Asking Price -$229,000 - Sales Price -$210,000 - Seller Subsidy  - 0

11329 Aristotle Dr#5-308 - 20 (DOMP) 2bd/2a - Short Sale (Took 3 months to close)
Asking Price - $229,000 - Sales Price - $230,000 - Seller Subsidy - $3,450

11345 Aristotle Dr #6-313 - 20(DOMP) 2bd/2ba - Regular Sale
Asking Price - $245,000 - Sales Price - $240,000 - Seller Subsidy - $0

11351 Aristotle Dr #8-402 - 6 (DOMP) 1bd/1ba - Short Sale (Took 6 months to close)
Asking Price - $169,000 - Sales Price - $180,000 - Seller Subsidy - $4,417

3851 Aristotle Ct #1-305 - 1bd/1ba (181 DOMP) - Short Sale (Took 7 months to close)
Asking Price - $165,000 - Sales Price - $165,000 - Seller Subsidy - $3,000

11373 Aristotle Dr #309 - 3bd/2ba (6 DOMP) - Bank Owned

Asking Price - $254,900 - Sales Price - $256,000 - Seller Subsidy -$8,960

11345 Aristotle Dr#6-308 -2bd/2ba (14 DOMP) - Bank Owned
Asking Price -$224,700 - Sales Price -$238,000 - Seller Subsidy -$0


Click below for all Fairfax Ridge Condo sales for 2009Sales More Than 30 Days ago


22033
These stats are for all real estate in the 22033 zip code for the Month of August




Fairfax Ridge Condos Sold for 2007 vs. 2008 vs 2009





Fairfax Condos Sold for 2007 vs. 2008 vs. 2009




EXPIRED or WITHDRAWN There have been 1 listings that have been taken off the market in the last 30 days.


RENTALS

There are currently 6 condos for rent

1bedroom units - 4 available
2bedroom units - 2 available
3bedroom units - 0 available

8 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

If you are thinking about buying or selling 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.


Monday, February 15, 2010

This Month in Real Estate - February

This Month in Real Estate
February 2010

...............................................................................................................................................

Commentary




January began the new decade with indications that the economy is beginning to gain traction. Real GDP grew by 2.2 percent in the third quarter of 2009 and preliminary signals point to a continued positive trend for the following quarter. GDP is a measure of total products and services produced by a country and indicates the health of the country's economy.

A dip in home sales in December was due in large part to timing. First time buyers that would have liked to close in December but qualified for the tax credit bumped their timeline up in order to cash in. News of the credit’s extension reached many of them after their plans to close in December were set.


Interest rates are back below 5% and home prices are up compared to last year. The government continues to attempt to minimize the impact of troubled homeowners by continuing to improve its foreclosure prevention program and has also taken steps to help foreclosures buyers purchase faster.


Although the unemployment rate is expected to stay high as jobs increase modestly, experts expect the economy to continue to grow in 2010.



The Housing Market



Existing Home Sales

After a rising surge for three straight months, existing home sales slowed in December after first-time buyers rushed to meet the original November tax credit deadline and evidenced by first timers accounting for 51% of sales in November compared to 43% in December. “It’s significant that home sales remain above year-ago levels, but the market is going through a period of swings driven by the tax credit,” said Lawrence Yun, NAR chief economist. December sales of 5.45 million remain 15 percent above the 4.74 million-unit level last year.



Median Home Price

Existing-home price was $178,300 in December, 1.5 percent higher than December 2008 and 8.2 percent above its low in January 2009. It was the first year-over-year gain in median price since August 2007, attributable to an increase in the number of mid- to upper-priced homes in the sales.





Inventory

The supply of homes continued to shrink, falling 6.6 percent to 3.29 million, representing a 7.2-month supply at the current sales pace. Compared to a year ago, there are now 11 percent fewer homes on the market. This is the lowest level of competing homes on the market since March 2006.



Mortgage Rates

Mortgage rates have moved back to less than 5 percent, which have been categorized by industry experts like Freddie Mac chief economist Frank Nothaft as “near a record low.” This move that may help boost home loan demand and lend support to the housing market recovery. On January 28, the average 30-year fixed-rate mortgage was 4.98 percent.



Affordability

Affordability remains at record levels, supported by the lowest mortgage rates in decades, low home prices, as well as the first-time buyer tax credit. So far this year, the home price-to-income ratio has fallen well below the historical average of 25 percent. The ratio now stands at 15 percent.



Sources: National Association of Realtors, Freddie Mac

Government Action

FHA Tightens Lending Requirements

The Federal Housing Administration (FHA) insured almost 30 percent of all purchase loans and 20 percent of refinances from September 2008 to September 2009, up from about only 2 percent of all loans three years earlier. The influx of loans combined with falling capital reserves, which cushion against rising defaults, has led the FHA to announce several measures to strengthen its economic vitality.

On January 20, the FHA announced it will do the following:

1. Raise Insurance Fees - In exchange for FHA backing, borrowers pay an up-front premium. Previously it was 1.75% of their loan. It’s now risen to 2.25%.

2. Cap Seller Contribution to Buyer’s Closing Costs - Sellers can contribute a maximum of 3%, down from 6%, of the sales price to the buyer’s closing costs. The higher cap created risk by incentivizing homes to sell at a substantially marked-up price to compensate for contribution. 3% is still a significant proportion to closing costs.

3. Require Higher Down Payments for Poor Credit - Beginning this summer, borrowers with a credit score below 580 will need to make a down payment of at least 10%. The FHA will still provide a viable alternative to the 1% of FHA borrowers who fall in this category, whereas most lenders’ credit score cutoff is 620.

The good news is the FHA, an integral player in the market, has stepped up to protect itself so it can continue helping first-time buyers, those with less cash for a down payment, and those with less-than-perfect credit obtain home loans. Additionally, these proactive measures aim to protect the agency from needing taxpayer funds from the government.

Source: The Wall Street Journal



FHA to Help New Foreclosures Sell Fast





FHA has announced it will lift the 90-day seasoning requirement for one year. The FHA ‘s 90-day “seasoning” provision requires that a home sold to an FHA buyer must be owned for at least 90 days by the seller before closing. This is intended to prevent buyers from purchasing property from “flippers” at an overly inflated value.


In the current climate, quickly selling foreclosures has risen in importance while the prominence of “flippers” has dramatically decreased. Acquiring, rehabbing, and reselling a foreclosure often takes fewer than 90 days. Banks have been reluctant to sell foreclosures to FHA buyers if they would need to push closing back to meet the FHA requirement.


There are additional stipulations; for more, please visit the press release.


Quickly moving foreclosures out of the bank’s hands and into those of home buyers is an important step in stabilizing home prices, neighborhoods, and communities leading toward a healthy housing market.

Source: U.S. Department of Housing and Urban Development



Topics For Buyers & Sellers



Price it Right

Sellers who listed their home at the price originally recommended by their agent sold it:

•38 days faster
•For 2.25% higher
•With 1 less price reduction
Compared to sellers who did not take their agent's recommendation.



Staging Stats

Compared to homes that were not staged, staged homes had:

•more showings
•a higher list-to-sell percentage
Other notable stats found include:

•Only 1 in 3 sellers staged their home, even with all the commonly accepted advantages of staging.
•Staging typically took between 2 - 6 hours to complete.
•Including the cost of a staging professional and items purchased or rented, staging cost an average of $523.
Although it has advantages at all price points, staging was also found to be particularly important for homes priced over $600,000.

Source: Keller Williams Realty Research Study





Tuesday, February 9, 2010

2 bedroom / 2 bath / 3 level Townhome with Garage - $256,500


MyFairfaxRidgeCondo.com

Click on the video below!

Those that follow this website saw this listing weeks before it came on the market !

In todays market, you need to beat the competition and find out about listings before they are on the market.  Well this is one way we are helping our clients.

2 bedroom / 2 bath / 3 level Townhome with Garage in Fairfax Ridge

$256,500

Email me today if you are interested in this property.
3 Minute Video

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