Penderbrook

Penderbrook Homes Weekly Report 3/13/09-3/19/09

MyPenderbrookHome.com

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

INTRODUCTION

Interest rates dropped to 4.25% yesterday !!! If you have been thinking about buying at all, you definitely need to now. Affordability, lowest interest rates of all time, many homes to choose from. Contact me if you are thinking about buying soon. I would be honored to work with you.

As of today (March 19, 2009 10 AM) there are 30 active homes in Penderbrook and 13 homes that are currently under contract and 7 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 - 23 active

1 bedroom condos - 9

2 bedroom condos - 10

3 bedroom condos - 4

Heights at Penderbrook (Condo/Townhome) - 9 condos ( 3 regular, 3 bank owned, 3 short sales)
Penderbrook Square (Condos)- 14 condos (4 regular, 5 short sale, 5 bank owned)


NEW LISTINGS

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


UNDER CONTRACT

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

Condos

3800 Green Ridge Ct #302 (64 DOMP)
12116 Greenway Ct #101 (133 DOMP)
12102 Green Ledge Ct #302 (88 DOMP)
12008 Ridge Knoll Dr #2 (7 DOMP)
12101 Green Leaf Ct #302 (165 DOMP)
3805 Ridge Knoll Ct #10B (0 DOMP)


Townhomes
12104 Wedgeway Ct (444 DOMP)
12145 Wedgeway Pl (51 DOMP)
12113 Wedgeway Ct (11 DOMP)
3910 Valley Ridge Dr (147 DOMP)
3951 Kathryn Jean Ct (7 DOMP)
12017 Lisa Marie Ct (0 DOMP)
3942 Kathryn Jean Ct (54 DOMP)

3910 Valley Ridge Dr (142 DOMP) Short Sale taken off the market
3784 Inverness Rd (39 DOMP) Now off the market

I will have the final numbers for these once they close


SOLD

According to MLS, 7 homes have sold in the last 30 days .

3916 Penderview Dr #425 (0 DOMP) Bank Owned - 1bd/1ba Condo

Asking Price - $189,900
Sales Price - $148,000
Seller Subsidy - $7919

12115 Wedgeway Pl (45 DOMP) Regular Sale - 2bd/4ba TH

Asking Price - $309,900
Sales Price - $305,500
Seller Subsidy - $933

3916 Green Look Ct (29 DOMP) Regular Sale - 3bd/4ba TH

Asking Price - $432,000
Sales Price - $425,000
Seller Subsidy - $10,000

12110 Green Leaf Ct #301 (141 DOMP) Bank Owned - 3bd/2ba Condo

Asking Price - $259,000
Sales Price - $210,000
Seller Subsidy - $12,600

11787 Valley Ridge Cir (92 DOMP) Regular Sale - 3bd/4ba TH

Asking Price - $477,000
Sales Price - $410,00
Seller Subsidy - $8,000

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

12100 Wedgeway Pl (139 DOMP) - Bank Owned - 2bd/4ba TH

Asking Price - $373,000
Sales Price - $277,500
Seller Subsidy - $8,250

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) Bank Owned

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 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 2326 -11.5%
Avg. Days on Market85105 -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 Condos Sold for 2007 vs. 2008




Fairfax Townhomes Sold for 2007 vs 2008




EXPIRED or WITHDRAWN

There has been 4 listings that have been taken off the market in the last 30 days.


RENTALS

There is currently 1 townhomes for rent and 11 condos

2 townhomes and 2 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

It was a slow week at Penderbrook. We got a couple more listings on the market and only one condo sold. There should be a couple more closing at the end of the month.

Take note. Only one short sale has sold here at Penderbrook in the last 5+ months. I will have a blog entry tomorrow about this and why are team is more experienced to get these short sales sold!

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.








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.

Why Buy A Home Now

Why Buy a Home Now


If you're renting and wondering if you should buy a home, consider what bestselling author, David Bach, says, "The average homeowner is worth 35 times more than the average renter."

He advises renters to take action immediately and start saving part of their paycheck every month to help accumulate a down payment. He also encourages renters to borrow 10-20 percent less than what the bank is willing to lend; that way they're only buying as much home as they can afford.

The longer you rent, the longer it may take you to eventually get into homeownership. If the market conditions have scared you, perhaps you're not looking at the other side of the coin. Owning a home becomes part of your investment portfolio, provides tax benefits, allows you to build equity (it still exists), and, if you buy now, you may get an excellent deal.

According to a MarketWatch news article, buying a home now can provide some real negotiating power to request improvements, price reductions, help with closing costs, and more. "People can get a lot of what they need and almost all of what they want today," said Jay Papasan, one of the authors of "Your First Home".

While poor market conditions have created a troubling situation for some homeowners, the downturn has made the buying market ripe for others. The affordability of homes is better than ever. The National Association of Realtors' housing affordability index concluded that homes in December of 2008 were more affordable than at any other point since 1970 (the start of the index). And with numerous foreclosures on the market and prices dropping in many areas, now is a good time to buy. But in order to make your purchase profitable, here are some things you should consider.

How long will you be in the home? Some experts advise that if you are planning to move within a year, buying may not be the best option because of the expenses associated with moving. However, if you're searching for a place to live for, at least, several years, buying now could be a good choice for you.

How much you can afford. Don't let tighter lending regulations scare you off from making a purchase. Instead, understand what you truly can afford. Don't get caught up in buying too much home. In fact, these days, the trend is moving toward smaller homes -- simpler living.

Mortgage rates drop to historical low. How much home you can afford is affected by mortgage interest rates that, right now, are highly appealing. Good credit, documenting your income, and a substantial down payment will make you a better candidate for the better mortgage rates.

Freedom to choose. Now, unlike several years ago, the market has a large inventory in many areas. The market time to sell a home has increased which creates a large inventory of homes, everything including new, existing, and foreclosures. Buyers can peruse the market and have the freedom to select the home they really want. If you're interest is in a new home, know that many developers are getting more competitive with their pricing because they also have taken a hit by the ailing economy.

Quality of life. Buying a home can create a higher quality of life, giving you pride of homeownership, and something to enjoy improving and developing over the years.

Tax credit benefit. The American Recovery and Reinvestment Act of 2009 provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.




Stimulus Package

Details Of The Recovery and Reinvestment Act of 2009


Talk about tax shelters. Your home likely provides more tax relief than any other acquisition, thanks, in part, to new federal laws designed to ease financial suffering in the recessionary economy.

The "American Recovery and Reinvestment Act of 2009," passed the House on February 13, 2009, by a vote of 246 - 184. Later that day, the Senate also passed the bill by a vote of 60 - 38. The President signed the bill on February 17, 2009. The bill is a $780 billion package, with roughly 35% of the package devoted to tax cuts (mostly for 2009) and the rest to spending intended to occur in 2009 and 2010.

The bill includes the following provisions:

Homebuyer Tax Credit - The bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

FHA, Fannie Mae and Freddie Mac Loan Limits -The bill reinstates last year's 2008 loan limits for FHA, Freddie Mac, and Fannie Mae loans. These limits were equal to the greater of 125% of the 2008 local area median home price or $271,050 for FHA and $417,000 for Fannie and Freddie, with an overall maximum cap of $729,750. For the few areas where the 2009 limits were higher, the higher limits will apply. In addition, the bill includes language providing the HUD Secretary with the discretion, if warranted, to increase the loan limit for any “sub-area”, i.e.an area smaller than a county. The Secretary's discretion is again limited by the $729,750 cap. These 2009 limits will expire December 31, 2009.

The inclusion of these loan limit provisions in the final bill is a victory for homeowners, buyers and Realtors. While these new limits were included in version of the original stimulus bill approved by the House, the bill first approved by the Senate did not. The National Association of Realtors® Call for Action to both the House and the Senate prior to the final vote advocated strongly for the provisions which were then included in the final bill approved by both Chambers.

Neighborhood Stabilization - Division A, Title XII of the bill provides $2,000,000,000 in additional funding for the Neighborhood Stabilization Program (NSP). The NSP was created by the Housing and Economic Recovery Act of 2008 (Public Law 110–289) to provide grants through the Community Development Block Grant program (CDBG) to states and localities to address the problems that can be created when whole neighborhoods are decimated by foreclosures. The funds can be used to purchase, manage, repair and resell foreclosed and abandoned properties. In addition, the funds can also be used by states and localities to establish financing methods for the purchase and redevelopment of foreclosed properties. After purchase the homes must be used to assist individuals and families with incomes at or below 120% of area median income. Twenty-five percent of funds must be used for households with incomes at or below 50% of area median income.

Low Income Housing Grants - Allow states to trade in a portion of their 2009 low-income housing tax credits for Treasury grants to finance the construction or acquisition and rehabilitation of low-income housing, including those with or without tax credit allocations.

Tax-Exempt Housing Bonds - Tax-exempt interest earned on specified state and local bonds issued during 2009 and 2010 will not be subject to the Alternative Minimum Tax (AMT). In addition, financial institutions will have greater capacity to purchase tax-exempt state and local bonds.

Energy Efficient Housing Tax Credits & Grants - To promote green jobs and energy independence, ARRA invests significantly in efforts to make homes and buildings more energy efficient. The bill provides state and local governments with $6 billion in energy efficiency and conservation grants for energy audits, retrofits and financial incentives. Through 2010, homeowners will be able to claim a 30% tax credit (up from 10%) for purchases of new furnaces, windows and insulation. Another $5 billion will be available to modernize the nation’s electricity grid and install smart meters on homes that help to save consumers money. There is also $5 billion for weatherization assistance for low income households and $2 billion for federally assisted housing (section 8) efficiency efforts.

Transportation Investments - The bill provides $46.7 billion to states and localities for capital investment for surface transportation projects including highways, bridges, transit, and rail projects. NAR policy supports increased spending on the types of transportation infrastructure addressed in the bill with the exception of Amtrak and high-speed inter-city rail where NAR has no policy. These investments will tend to moderate traffic congestion and support a variety of transportation alternatives which will improve the quality of life of American communities and bolster the value of real estate.

Broadband Deployment - The bill creates $7.2 billion in grants to promote broadband deployment in unserved and underserved areas and for mapping the availability of broadband service in the U.S. Any entity is eligible to apply for a grant including municipalities, public/private partnerships and private companies as long as they comply with the grant conditions. The grants are subject to “network neutrality” requirements to ensure that broadband networks be free of restrictions on content, sites, or platforms, on the kinds of equipment that may be attached, and on the modes of communication allowed.

The bill also charges the FCC is with developing a national broadband plan that shall seek to ensure that all Americans have access to broadband capability and shall establish benchmarks for meeting that goal.


Written by Realty Times Staff


Penderbrook Homes Weekly Report 3/06/09-3/12/09

MyPenderbrookHome.com

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

INTRODUCTION

Penderbrook continues to lead the area in home sales and in homes with a contract. Look at the movement over the past 2 weeks. Read the observations below...

As of today (March 12, 2009 11 AM) there are 27 active homes in Penderbrook and 13 homes that are currently under contract and 7 homes that have sold in the last 30 days.

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

Townhomes- 6 active

4 regular sales , 2 bank owned

Condos - 21 active

1 bedroom condos - 9

2 bedroom condos - 8

3 bedroom condos - 4

Heights at Penderbrook (Condo/Townhome) - 9 condos ( 3 regular, 3 bank owned, 3 short sales)
Penderbrook Square (Condos)- 12 condos (3 regular, 4 short sale, 5 bank owned)


NEW LISTINGS

According to MLS, there was 2 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)
3800 Green Ridge Ct #302 (64 DOMP)
12102 Green Ledge Ct #302 (88 DOMP)
12008 Ridge Knoll Dr #2 (7 DOMP)
3805 Ridge Knoll Ct #10B (0 DOMP)
12101 Green Leaf Ct #302 (165 DOMP)
12116 Greenway Ct #101 (133 DOMP)

12004 Golf Ridge Ct #302 (20 DOMP) Back on the market

Townhomes
12104 Wedgeway Ct (444 DOMP)
12113 Wedgeway Ct (11 DOMP)
3951 Kathryn Jean Ct (7 DOMP)
12017 Lisa Marie Ct (0 DOMP)
12145 Wedgeway Pl (51 DOMP)


3942 Kathryn Jean Ct (54 DOMP) Taken off the market
3910 Valley Ridge Dr (142 DOMP) Short Sale taken off the market
3784 Inverness Rd (39 DOMP) Now off the market

I will have the final numbers for these once they close


SOLD

According to MLS, 7 homes have sold in the last 30 days .

12115 Wedgeway Pl (45 DOMP) Regular Sale - 2bd/4ba TH

Asking Price - $309,900
Sales Price - $305,500
Seller Subsidy - $933

3916 Green Look Ct (29 DOMP) Regular Sale - 3bd/4ba TH

Asking Price - $432,000
Sales Price - $425,000
Seller Subsidy - $10,000

12110 Green Leaf Ct #301 (141 DOMP) Bank Owned - 3bd/2ba Condo

Asking Price - $259,000
Sales Price - $210,000
Seller Subsidy - $12,600

11787 Valley Ridge Cir (92 DOMP) Regular Sale - 3bd/4ba TH

Asking Price - $477,000
Sales Price - $410,00
Seller Subsidy - $8,000

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

12100 Wedgeway Pl (139 DOMP) - Bank Owned - 2bd/4ba TH

Asking Price - $373,000
Sales Price - $277,500
Seller Subsidy - $8,250

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) Bank Owned

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 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 2326 -11.5%
Avg. Days on Market85105 -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 Condos Sold for 2007 vs. 2008




Fairfax Townhomes Sold for 2007 vs 2008




EXPIRED or WITHDRAWN

There has been 4 listings that have been taken off the market in the last 30 days.


RENTALS

There is currently 1 townhomes for rent and 12 condos

1 townhomes and 2 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

Nothing spectactular happened this past week. One TH closed and the numbers are posted. Most of those homes under contract should close by the end of the month.

There are still a few great opportunities to own here at Penderbrook. There are a few regular sales and these owners will be willing to negotiate. Contact us to help you negotiate the best price possible for you.

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.







Penderbrook Homes Weekly Report 2/20/09-3/5/09

MyPenderbrookHome.com

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

INTRODUCTION

Penderbrook continues to lead the area in home sales and in homes with a contract. Look at the movement over the past 2 weeks. Read the observations below...

As of today (March 5, 2009 11 AM) there are 23 active homes in Penderbrook and 15 homes that are currently under contract and 6 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 - 18 active

1 bedroom condos - 8

2 bedroom condos - 8

3 bedroom condos - 2

Heights at Penderbrook (Condo/Townhome) - 8 condos ( 3 regular, 3 bank owned, 2 short sales)
Penderbrook Square (Condos)- 10 condos (3 regular, 3 short sale, 4 bank owned)


NEW LISTINGS

According to MLS, there was 5 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)
3800 Green Ridge Ct #302 (64 DOMP)
12116 Greenway Ct #101 (133 DOMP)
12004 Golf Ridge Ct #302 (20 DOMP)
12102 Green Ledge Ct #302 (88 DOMP)
12008 Ridge Knoll Dr #2 (7 DOMP)
12101 Green Leaf Ct #302 (165 DOMP)
3805 Ridge Knoll Ct #10B (0 DOMP)

Townhomes
12104 Wedgeway Ct (444 DOMP)
12145 Wedgeway Pl (51 DOMP)
12115 Wedgeway Pl (45 DOMP)
12113 Wedgeway Ct (11 DOMP)
3951 Kathryn Jean Ct (7 DOMP)
12017 Lisa Marie Ct (0 DOMP)
3942 Kathryn Jean Ct (54 DOMP)

3910 Valley Ridge Dr (142 DOMP) Short Sale taken off the market
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 .

3916 Green Look Ct (29 DOMP) Regular Sale - 3bd/4ba TH

Asking Price - $432,000
Sales Price - $425,000
Seller Subsidy - $10,000

12110 Green Leaf Ct #301 (141 DOMP) Bank Owned - 3bd/2ba Condo

Asking Price - $259,000
Sales Price - $210,000
Seller Subsidy - $12,600

11787 Valley Ridge Cir (92 DOMP) Regular Sale - 3bd/4ba TH

Asking Price - $477,000
Sales Price - $410,00
Seller Subsidy - $8,000

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

12100 Wedgeway Pl (139 DOMP) - Bank Owned - 2bd/4ba TH

Asking Price - $373,000
Sales Price - $277,500
Seller Subsidy - $8,250

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) Bank Owned

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 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 2326 -11.5%
Avg. Days on Market85105 -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 Condos Sold for 2007 vs. 2008




Fairfax Townhomes Sold for 2007 vs 2008




EXPIRED or WITHDRAWN

There has been 4 listings that have been taken off the market in the last 30 days.


RENTALS

There is currently 2 townhomes for rent and 13 condos

1 townhomes and 1 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

Please note that in the last 4+ months no short sale has closed at Penderbrook. There are a bunch on the market now and the listing agent has to be experienced and have a professional negotiator working with them and the bank to get the deal done. Right across the way at Fairfax Ridge the same situation is happening. No short sales have gotten pushed through in the last 4+ months except OUR listing at Fairfax Ridge. At the end of this month it is closing!

Contact us ASAP if you are in a situation where you owe more than your mortgage.

On another note Penderbrook is HOT! Regular Sales and Bank owned Sales are dominating this market. Make sure you have a good agent though. We are seeing multiple offers. We just closed on a TH for our buyers where there were multiple offers and we won ! and we were $10,000 less than the highest offer. You bet we pulled out all the tricks on this one :)

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.








SOLD!