Penderbrook

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)






Exclusive Rental at Penderbrook

Penderbrook Rental

This 2bedroom / 2 bath condo is going to be on the market and available mid March. This is exclusively only being advertised on this website for right now. The second week of March this will be open up to the public.

If you are interested contact me asap !

More pictures will be coming soon but this unit has an updated kitchen and bump out off the living room that most units do not have.

$1,450 a month and pets are welcome










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 !

Penderbrook Homes Weekly Report 2/6/2009-2/19/2009

MyPenderbrookHome.com

Relevant Real Estate Information for the Penderbrook Community of Townhomes and Condos in Fairfax, VA

INTRODUCTION

Only 5 Townhomes available right now at Penderbrook. One of our clients is closing on one of these next week, so stay tuned for those numbers ! We had 6 new listings this week at Penderbrook and 13 !!! homes are under contract. This is the most we have had under contract at one time in a long while.

As of today (February 19, 2009 10 AM) there are 24 active homes in Penderbrook and 13 homes that are currently under contract and 2 homes that have sold in the last 30 days.

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

Townhomes- 5 active

3 regular sales , 2 bank owned

Condos - 19 active

Heights at Penderbrook (Condo/Townhome) - 8 condos ( 3 regular, 3 bank owned, 2 short sales)
Penderbrook Square (Condos)- 11 condos (3 regular, 3 short sale, 5 bank owned)


NEW LISTINGS

According to MLS, there was 6 new listing this week.


UNDER CONTRACT

According to MLS, there are 5 Condos and 8 townhomes under contract.

Condos
3916 Penderview Dr #425 (0 DOMP)
12116 Greenway Ct #101 (133 DOMP)
12008 Ridge Knoll Dr #2 (7 DOMP)
12101 Green Leaf Ct #302 (165 DOMP)
12110 Green Leaf Ct #301 (141 DOMP)


Townhomes
3916 Green Look Ct (29 DOMP)
11787 Valley Ridge Cir (92 DOMP)
3951 Kathryn Jean Ct (7 DOMP)
12115 Wedgeway Pl (45 DOMP)
12100 Wedgeway Pl (139 DOMP)
3942 Kathryn Jean Ct (54 DOMP)
3910 Valley Ridge Dr (142 DOMP)
12113 Wedgeway Ct (62 DOMP)
3784 Inverness Rd (39 DOMP) Now off the market

I will have the final numbers for these once they close


SOLD

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

3909 Penderview Dr #1901 (185 DOMP) Short Sale - 2bd/2ba Condo

Asking Price - $249,900
Sales Price - $218,000
Seller Subsidy - $5,000

12159 Wedgeway Plv (39 DOMP) 3bd/4ba TH - Regular Sale

List Price - $317,000
Sales Price - $305,000
Seller Subsidy - $3,000

More Than 30 Days ago

-12104 Green Ledge Ct #302 (18 DOMP) 2bd/2ba Condo - Regular Sale

Asking Price -$239,000 / Sales Price -$239,000 / Seller Subsidy -$7,000

-12110 Green Ledge Ct #301 (26 Days on the market) 3bd/2ba Condo - Regular Sale

Asking Price - $250,000 / Sales Price - $250,000 / Seller Subsidy - $5,000

-12108 Green Ledge Ct #301 (Condo - 3bed/2ba - 229 DOMP) - Regular Sale

Asking Price - $259,999 / Sales Price - $240,000 / Seller Subsidy - 0

-12118 Wedgeway Pl (Townhome - 3bed/4ba - 83 DOMP) - Bank Owned

Asking Price - $317,900 / Sales Price - $307,900 / Seller Subsidy - $ 0

-12128 Wedgeway Ct (Townhome - 2bed/4ba - 34 DOMP)

Asking Price - $309,900 / Sales Price - $310,100 / Seller Subidy - $ 0


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 Condos Sold for 2007 vs. 2008




Fairfax Townhomes Sold for 2007 vs 2008




EXPIRED or WITHDRAWN

There has been 10 listings that have been taken off the market in the last 30 days.


RENTALS

There is currently 0 townhomes for rent and 10 condos

4 townhomes and 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. We are also a full licensed Property Management Group.


OBSERVATIONS

Ok we finally had a short sale sell. It has been months since a short sale has sold at Penderbrook. I am telling you these things are tough and most are not even worth your time. If you want more information about them, please contact us.

We did have a good past 2 weeks here at Penderbrook and the spring market is almost here! Interest rates are very low and the Government is giving first time home buyers $8,000 to buy this year ! How can you not buy a home this year with those incentives.

If you are thining about buying in the next 3 moths Contact us today !

Keep checking back each Thursday for more insight to what is going on at Penderbrook.




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





Bank Owned Home Tour at Penderbrook

This Friday at 4pm I will be hosting a Bank Owned Home Tour at Penderbrook in Fairfax VA. We will be visiting all the bank owned homes in this neighborhood.

This is free and no obligation.

Contact me asap if you want more information and to see what time and what house we will start at.

We will travel from home to home and try to be done in 60-90 minutes.

My lender will either be on site or available immediately by phone in case you want a free no obligation idea of how much home you can afford and what your payments will look like.

Dont miss out on this great opportunity !

Penderbrook TH Under Contract




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I have already used this coupon twice !

Enjoy this gift from us

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

Penderbrook Homes Weekly Report 1/30/09-2/05/09

MyPenderbrookHome.com

Relevant Real Estate Information for the Penderbrook Community of Townhomes and Condos in Fairfax, VA

INTRODUCTION

We had a lot of movement this week and we successfully negotiated for one our clients in a multi offer deal here at a Penderbrook Townhome. We will have more info on that tomorrow. Wedgway court is the lowest price townhome in Penderbrook right now. It wont last long

As of today (February 5, 2009 11 AM) there are 22 active homes in Penderbrook and 8 homes that are currently under contract and 1 homes that have sold in the last 30 days.

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

Townhomes- 7 active

5 regular sales , 2 bank owned

Condos - 15 active

Heights at Penderbrook (Condo/Townhome) - 6 condos ( 2 regular, 3 bank owned, 1 short sales)
Penderbrook Square (Condos)- 9 condos (3 regular, 3 short sale, 3 bank owned)


NEW LISTINGS

According to MLS, there was 2 new listing this week.


UNDER CONTRACT

According to MLS, there are 2 Condos and 7 townhomes under contract.

Condos
12110 Green Leaf Ct #301 (141 DOMP)
3909 Penderview Dr #1901 (185 DOMP)
3800 Green Ridge Ct #302 (0 DOMP) Back on the market - Contract fell through

Townhomes
12100 Wedgeway Pl (139 DOMP)
12000 Lisa Marie Ct (12 DOMP)
3942 Kathryn Jean Ct (54 DOMP)
3910 Valley Ridge Dr (142 DOMP)
12113 Wedgeway Ct (62 DOMP)
3784 Inverness Rd (39 DOMP)



I will have the final numbers for these once they close


SOLD

According to MLS, 1 homes have sold in the last 30 days .

12159 Wedgeway Plv (39 DOMP) Regular Sale

List Price - $317,000
Sales Price - $305,000
Seller Subsidy - $3,000

More Than 30 Days ago

-12104 Green Ledge Ct #302 (18 DOMP) 2bd/2ba Condo - Regular Sale

Asking Price -$239,000 / Sales Price -$239,000 / Seller Subsidy -$7,000

-12110 Green Ledge Ct #301 (26 Days on the market) 3bd/2ba Condo - Regular Sale

Asking Price - $250,000 / Sales Price - $250,000 / Seller Subsidy - $5,000

-12108 Green Ledge Ct #301 (Condo - 3bed/2ba - 229 DOMP) - Regular Sale

Asking Price - $259,999 / Sales Price - $240,000 / Seller Subsidy - 0

-12118 Wedgeway Pl (Townhome - 3bed/4ba - 83 DOMP) - Bank Owned

Asking Price - $317,900 / Sales Price - $307,900 / Seller Subsidy - $ 0

-12128 Wedgeway Ct (Townhome - 2bed/4ba - 34 DOMP)

Asking Price - $309,900 / Sales Price - $310,100 / Seller Subidy - $ 0


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 Condos Sold for 2007 vs. 2008




Fairfax Townhomes Sold for 2007 vs 2008




EXPIRED or WITHDRAWN

There has been 10 listings that have been taken off the market in the last 30 days.


RENTALS

There is currently 0 townhomes for rent and 6 condos

4 townhomes and 3 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 full licensed Property Management Group.


OBSERVATIONS

Ok our numbers fluctuated alot this week. We now have 10 homes that have gone of the market. A majority of these are short sales. Alot of times these people have contract with agents and if there contract runs up, then its off the market and they have to decide what they will do next. That is why we only have 22 homes for sale right now. We still have a high number under contract and a few more will be next week also.

Homes are selling here at Penderbrook.

I have been in a lot of these homes for sale right now and there are some excellent opportunities, especially with interest rates so low right now.

I will have more news soon about one of our clients who just bought a beaughtful townhouse here at an excellent price !

We would be honored to work with you to sell your home or help you buy. Our job is to serve you and meet your needs. We would not get so many referrals as we do if we screwed over our clients. We have your interest at mind and are here to guide you and give you advice.

Contact us today !

Keep checking back each Thursday for more insight to what is going on at Penderbrook.




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