Penderbrook

Penderbrook Homes Sales Weekly Report 5/15/09-5/21/09

MyPenderbrookHome.com

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

INTRODUCTION

We have some great news to announce for first time home buyers. FHA is working on passing a bill, where the $8,000 tax credit you would qualify for when you file your tax returns, will now be available to purchase your home with. Meaning you could use this towards your down payment or closing costs! This is huge. This means very little money down to buy a home. If you were to buy a $300,000 home. You would only have to put $2,500 down. They got rid of no money down programs last Oct 2008, so this is another amazing opportunity as to why now is the best time to buy!

Contact me for more info, because this has not gone into affect but will soon

As of today (May 21, 2009 11 AM) there are 28 active homes in Penderbrook and 23 homes that are currently under contract and 5 homes that have sold in the last 30 days.

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

Townhomes- 7 active

3 regular sales , 2 bank owned , 2 short sales

Condos - 21 active

1 bedroom condos - 8

2 bedroom condos - 12

3 bedroom condos - 1

Heights at Penderbrook (Condo/Townhome) - 9 condos ( 4 regular, 2 bank owned, 3 short sales)
Penderbrook Square (Condos)- 12 condos (4 regular, 4 short sale, 4 bank owned)


NEW LISTINGS

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


UNDER CONTRACT

According to MLS, there are 10 Condos and 13 townhomes under contract.

Condos

12151 Penderview Ln #2027 - 1bd/1ba (551 DOMP) BACK ON THE MARKET

3904 Penderview Dr #735 -1bd/1ba (15 DOMP)
3807 Green Ridge Ct #102 -3bd/2ba (6 DOMP)
12108 Greenway Ct #101 - 3bd/2ba - (251 DOMP)
12165 Penderview Ter #100 - 1bd/1ba (487 DOMP)
12110 Green Leaf Ct #201 -3bd/2ba (240 DOMP)
3808 Green Ridge Ct #301 - 3bd/2ba (257 DOMP)
12104 Greenway Ct #201 - 2bd/2ba (85 DOMP)
12103 Green Ledge Ct #201 -3bd/2ba (263 DOMP)
12012 Golf Ridge Ct. NE# 301 - 3bd/2ba (7 DOMP)
3805 Ridge Knoll Ct #10B (0 DOMP)

Townhomes
12112 Wedgeway Pl - 2bd/4ba (6DOMP)
12112 Wedgeway Ct - 2bd/4ba (8 DOMP)
12129 Wedgeway Ct - 2bd/4ba (2 DOMP)
12113 Wedgeway Ct - 2bd/4ba (35 DOMP)
3784 Inverness Rd - 3bd/4ba (39 DOMP)
3944 Kathryn Jean Ct -3bd/4ba (6 DOMP)
11795 Valley Ridge Cir -3bd/4ba (0 DOMP)
11718 Valley Ridge Cir -4bd/4ba (87 DOMP)
11702 Valley Ridge Cir -3bd/4ba (57 DOMP)
3907 Clares Ct -3bd/4ba (66 DOMP)
11906 Matthews Ct - 3bd/4ba (86 DOMP)
3931 Clares Ct - 3bd/4ba (31 DOMP)
3803 Inverness Rd -3bd/4ba (6 DOMP)

I will have the final numbers for these once they close


SOLD

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

12116 Greenway Ct #101 - 3bd/2ba (133 DOMP) - Bank Owned

Asking Price -$237,900
Sales Price - $175,000
Seller Subsidy - $6,000

3800 Green Ridge Ct #302 - 2bd/2ba (64 DOMP) - Bank Owned

Asking Price - $214,900
Sales Price - $160,535
Seller Subsidy - 0

3912 Penderview Dr #507 - 1bd/1ba (126 DOMP) - Bank Owned

Asking Price - $119,900
Sales Price - $125,000
Seller Subsidy - $3,655

12008 Ridge Knoll Dr #2 - 2bd/2ba (7 DOMP) - Regular Sale

Asking Price - $235,000
Sales Price - $238,000
Seller Subsidy - $3,000

3910 Valley Ridge Dr -3bd/3ba (147 DOMP) - Bank Owned

Asking Price - $350,000
Sales Price - $347,000
Seller Subsidy - 0

12104 Wedgeway Ct - 2bd/4ba (444 DOMP) - Bank Owned

Asking Price - $360,000
Sales Price - $275,000
Seller Subsidy - $8,250

12004 Golf Ridge Ct #302 - 3bd/2ba (33 DOMP) - Bank Owned

Asking Price -$222,900
Sales Price - $210,000
Seller Subsidy - 0


More Than 30 Days ago

-12017 Lisa Marie Ct (0 DOMP) 3bd/4ba TH - Regular Sale
Asking Price - $445,000 /Sales Price - $429,100 /Seller Subsidy - $ 5,000

-3951 Kathryn Jean Ct (7 DOMP) 3bd/4ba TH - Regular Sale
Asking Price - $429,000 /Sales Price -$409,000 /Seller Subsidy - 0

-12145 Wedgeway Pl (51 DOMP) 4bd/ 3ba TH - Bank Owned
Asking Price -$304,750 / Sales Price - $285,000 / Seller Subsidy - 0

-12102 Green Ledge Ct #302 (88 DOMP) 2bd/2ba Condo - Regular Sale
Asking Price -$249,900 / Sales Price -$220,000 / Seller Subsidy - 0

-12101 Green Leaf Ct #302 (165 DOMP) 3bd/2ba Condo - Regular Sale
Asking Price - $289,900 / Sales Price - $240,000 / Seller Subsidy - $7,200

-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

-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 March


2009 2008 % Change
Total Sold $ Volume $13,961,288 $14,878,678-6.1%
Avg. Sold Price$367,402 $413,297 -11.1%
Median Sold Price $323,500 $381,900-15.9%
Total Units Sold 3836 52%
Avg. Days on Market7991 0%
Avg. List Price for Solds: $397,753 $441,841 -9.9%
Avg. Sale Price as a percentage of Avg. List Price: 92.37%93.54%



Fairfax Condos Sold for 2007 vs. 2008




Fairfax Townhomes Sold for 2007 vs 2008




EXPIRED or WITHDRAWN

There has been 1 listings that have been taken off the market in the last 30 days.


RENTALS

There is currently 0 townhomes for rent and 10 condos

8 townhomes and 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 full licensed Property Management Group.


OBSERVATIONS

We had a 3bd condo sell for a rock bottom price. This is not going to make many home owners happy. It was a bank owned property and marketed much higher for a long time. It did need updating though. Someone got a steal of a price at $175,000

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.










April 2009 Housing Stats



April 2009 Regional Home Sales
Northern Virginia: April 2009
The Northern Virginia Association of Realtors® reports on April 2009 home sales activity for Fairfax and Arlington counties, the cities of Alexandria, Fairfax and Falls Church and the towns of Vienna, Herndon and Clifton.
A total of 1,544 homes sold in April 2009, a 6.12 percent increase above April 2008 home sales of 1,455.

Active listings decreased by 23.04 percent from last year, with 8,234 active listings in April, compared with 10,699 homes available in April 2008. The average days on market (DOM) for homes in April 2009 decreased by 15 percent to 85 days, compared with 100 days in April 2008.

Sales prices continue to remain lower than those realized last year. The average sales price in April fell by 16.29 percent from April 2008, to $405,514, compared with last April's average of $484,432.

The median price of homes sold in Northern Virginia in April was $356,750, which is a decline of 13.72 percent compared with April 2008's median price of $413,500.

Greater Northern Virginia: April 2009
Sales activity in Greater Northern Virginia (NVAR jurisdictions plus Prince William, Loudoun and the Greater Piedmont counties) for April 2009 continues to show an increase from 2008.

The number of Greater Northern Virginia region homes sold in April was 2,904, a 5.75 percent increase from April 2008's total of 2,746 sales. This marks the thirteenth consecutive month of increased year-over-year sales totals for Greater Northern Virginia.

The average sales price of $331,600 in April 2009 continues to lag behind the 2008 average by 18.63 percent. The April 2008 average sales price was $407,519.

Across Greater Northern Virginia, the number of listings showed a decrease from 2008 numbers, with 15,683 listings active, which is 33.18 percent less than this time last year, when 23,471 homes were available. The average DOM for a home sold in April 2009 was 89 compared with last year's 112 DOM, a decrease of 20.52 percent.
Price Stabilization Is First Step to Recovery:
Tax Credit Bridge Loans on the Way
Although there are encouraging signs in the housing market - including a pick-up of home sales in previously hard-hit markets, record affordability, and continuing low interest rates - prices have not yet hit bottom, according to a panel of housing and economic experts who spoke at a real estate summit hosted by the National Association Of Realtors® as part of its Midyear Legislative Meetings in Washington, D.C., the week of May 11, 2009.

To put a floor under the market, the federal government must continue to intervene, panelists said, and expanding the first-time home buyer tax credit is a good place to start. The credit should be expanded to all households, they said, including those with higher incomes, and increased significantly in value, perhaps to $15,000 to $16,000 instead of the current $8,000.

"Then it would start to move real estate," said Robert Sibcy, president of Sibcy Cline, REALTORS®, based in Ohio.

In a positive move, the U.S. Department of Housing and Urban Development is set to roll out guidelines permitting HUD-approved lenders, public housing finance agencies, and some nonprofit organizations to make bridge loans to home buyers. The loans would be collateralized by the $8,000 tax credit, giving buyers the upfront funds for a down payment.

The inability to use the credit for the down payment has been a major stumbling block for the tax credit. NAR has been calling for HUD to use its authority to allow the bridge loans.

During the summit, HUD Secretary Shaun Donovan announced that HUD has decided to allow bridge loans, sparking a loud cheer of appreciation from more than 1,000 Realtors® attending the session.

"We want FHA consumers to access the credit to use as a down payment," Donovan said. "I want to thank NAR for its partnership with FHA." More details on the guidelines will be released in a few days, he said.

Donovan said the credit is expected to stimulate 100,000 first-time home buyer purchases and 60,000 move-up purchases this year before it expires December 1.
Affordability At All-Time High
Historically low interest rates and low prices combine to put housing affordability at an all-time high, according to NAR Chief Economist Lawrence Yun. Speaking at NAR's Midyear Legislative Meetings in Washington, D.C., Yun offered his analysis of the current national and regional housing picture, as well as his predictions for the future of the industry.
"We're overshooting downward, which sets the stage for a big upswing," Yun stated. "Any further decline is over-correction at this point," he added.
Early summer will be a critical time to see how buyers are responding to the federal stimulus package, Yun said. He cautioned Realtors® to encourage buyers to stay within their budgets and called for sound underwriting standards. "We want sustainable homeownership," he said.
Yun noted that the credit crunch appears to be easing somewhat. He predicts some economic recovery in 2010, with national unemployment edging higher - to 10.5 percent - before stabilizing.
People buying today could see slight increases in value by next year, Yun concluded. "Today's homebuyers are perfectly positioned to hedge inflation," he said.
Northern Virginia's Market Hits Bottom,
Expert States at NAR Summit at Mid-Year
Elizabeth Razzi, of The Washington Post, covered the panel of speakers at the Summit at the NAR Midyear Event.
She wrote the following item on her May 13 blog, citing Tom Lawler, founder of Lawler Economic & Consulting in Vienna:

Beware Dated Housing Stats
"Anyone here from Northern Virginia?" asked Lawler. He was one of the panelists in that marathon economic summit meeting that the NAR held at the Marriott Wardman Park [on May 12]. "Northern Virginia is actually starting to bottom," he said.

He warned participants that all the home-price indexes reported in the news rely on dated information. "Case-Shiller not only has a lot of foreclosures, but the last index was based on January-February closings and those contracts were made a month or two earlier," he said, referring to the closely followed index of home prices.
'Economists In The Latest Wall Street Journal Survey See An End To The Recession By Autumn,' The Wall Street Journal Reports
According to the WSJ survey results: Half the respondents said that fiscal and monetary stimulus has provided the basis for a sustainable recovery. Twenty-seven percent said it has boosted the economy, but they had doubts about sustainability.

According to the article: "The Fed has the big guns and has effectively averted a depression or a much more severe recession," said Diane Swonk of Mesirow Financial.

The role of the Fed in stabilizing the market has boosted the outlook for Chairman Ben Bernanke. On average, the economists say there is a 72 percent chance that Mr. Obama will reappoint the Fed chairman in 2010. "If there's a hero to this piece, it's Ben Bernanke," said Paul Kasriel of The Northern Trust Corp.
Although there will be slight improvements in the economy, the unemployment rate will increase before it declines, the economists agreed. Forty-six percent of the surveyed experts noted that the recession could last three to four years, with 27 percent believing that it could end in five to six years. All economists noted that recession corrections take years.

Penderbrook Homes Sales Weekly Report 5/08/09-5/14/09

MyPenderbrookHome.com

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

INTRODUCTION

Not much movement at Penderbrook this week. One bank owned condo sold, at a very low price, which will affect alot of the other condos. We also had 2 more condos come on the market.

The rental market at Penderbrook is finally picking up! I know we have had some owners very frustrated about this, but its summer and people are renting now.

As of today (May 14, 2009 11 AM) there are 27 active homes in Penderbrook and 22 homes that are currently under contract and 5 homes that have sold in the last 30 days.

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

Townhomes- 9 active

4 regular sales , 2 bank owned , 3 short sales

Condos - 18 active

1 bedroom condos - 6

2 bedroom condos - 11

3 bedroom condos - 1

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


NEW LISTINGS

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


UNDER CONTRACT

According to MLS, there are 11 Condos and 11 townhomes under contract.

Condos

12151 Penderview Ln #2027 - 1bd/1ba (551 DOMP)
12116 Greenway Ct #101 - 3bd/2ba (133 DOMP)
3807 Green Ridge Ct #102 -3bd/2ba (6 DOMP)
12108 Greenway Ct #101 - 3bd/2ba - (251 DOMP)
12165 Penderview Ter #100 - 1bd/1ba (487 DOMP)
12110 Green Leaf Ct #201 -3bd/2ba (240 DOMP)
3808 Green Ridge Ct #301 - 3bd/2ba (257 DOMP)
12104 Greenway Ct #201 - 2bd/2ba (85 DOMP)
12103 Green Ledge Ct #201 -3bd/2ba (263 DOMP)
12012 Golf Ridge Ct. NE# 301 - 3bd/2ba (7 DOMP)
3805 Ridge Knoll Ct #10B (0 DOMP)

Townhomes
12112 Wedgeway Pl - 2bd/4ba (6DOMP)
12112 Wedgeway Ct - 2bd/4ba (8 DOMP)
12129 Wedgeway Ct - 2bd/4ba (2 DOMP)
12113 Wedgeway Ct - 2bd/4ba (35 DOMP)
3784 Inverness Rd - 3bd/4ba (39 DOMP)
3944 Kathryn Jean Ct -3bd/4ba (6 DOMP)
11795 Valley Ridge Cir -3bd/4ba (0 DOMP)
11718 Valley Ridge Cir -4bd/4ba (87 DOMP)
11702 Valley Ridge Cir -3bd/4ba (57 DOMP)
3907 Clares Ct -3bd/4ba (66 DOMP)
3803 Inverness Rd -3bd/4ba (6 DOMP)

I will have the final numbers for these once they close


SOLD

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

3800 Green Ridge Ct #302 - 2bd/2ba (64 DOMP) - Bank Owned

Asking Price - $214,900
Sales Price - $160,535
Seller Subsidy - 0

3912 Penderview Dr #507 - 1bd/1ba (126 DOMP) - Bank Owned

Asking Price - $119,900
Sales Price - $125,000
Seller Subsidy - $3,655

12008 Ridge Knoll Dr #2 - 2bd/2ba (7 DOMP) - Regular Sale

Asking Price - $235,000
Sales Price - $238,000
Seller Subsidy - $3,000

3910 Valley Ridge Dr -3bd/3ba (147 DOMP) - Bank Owned

Asking Price - $350,000
Sales Price - $347,000
Seller Subsidy - 0

12104 Wedgeway Ct - 2bd/4ba (444 DOMP) - Bank Owned

Asking Price - $360,000
Sales Price - $275,000
Seller Subsidy - $8,250

12004 Golf Ridge Ct #302 - 3bd/2ba (33 DOMP) - Bank Owned

Asking Price -$222,900
Sales Price - $210,000
Seller Subsidy - 0


More Than 30 Days ago


-12017 Lisa Marie Ct (0 DOMP) 3bd/4ba TH - Regular Sale
Asking Price - $445,000 /Sales Price - $429,100 /Seller Subsidy - $ 5,000

-3951 Kathryn Jean Ct (7 DOMP) 3bd/4ba TH - Regular Sale
Asking Price - $429,000 /Sales Price -$409,000 /Seller Subsidy - 0

-12145 Wedgeway Pl (51 DOMP) 4bd/ 3ba TH - Bank Owned
Asking Price -$304,750 / Sales Price - $285,000 / Seller Subsidy - 0

-12102 Green Ledge Ct #302 (88 DOMP) 2bd/2ba Condo - Regular Sale
Asking Price -$249,900 / Sales Price -$220,000 / Seller Subsidy - 0

-12101 Green Leaf Ct #302 (165 DOMP) 3bd/2ba Condo - Regular Sale
Asking Price - $289,900 / Sales Price - $240,000 / Seller Subsidy - $7,200

-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

-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 March


2009 2008 % Change
Total Sold $ Volume $13,961,288 $14,878,678-6.1%
Avg. Sold Price$367,402 $413,297 -11.1%
Median Sold Price $323,500 $381,900-15.9%
Total Units Sold 3836 52%
Avg. Days on Market7991 0%
Avg. List Price for Solds: $397,753 $441,841 -9.9%
Avg. Sale Price as a percentage of Avg. List Price: 92.37%93.54%



Fairfax Condos Sold for 2007 vs. 2008




Fairfax Townhomes Sold for 2007 vs 2008




EXPIRED or WITHDRAWN

There has been 1 listings that have been taken off the market in the last 30 days.


RENTALS

There is currently 1 townhomes for rent and 10 condos

7 townhomes and 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 full licensed Property Management Group.


OBSERVATIONS

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.












2bd/2ba Condo Rental at Penderbrook $1,250

JUST RENTED!!



This 2bedroom / 2 bath condo is available today for rent! $1,250 a month and this includes 2 parking spots, water, trash and sewer and membership to the pool and rec center. It is located on the 2nd floor and has an updated kitchen with granite countertops and stainless steel appliances. It also has a sitting area/den off of the living room. Pets are allowed up to 30lbs.

This will not last long. Contact me today for more information.

Click on the image below for video footage of the condo.


Penderbrook Condo Rental



Penderbrook Homes Weekly Report 4/24/09-5/07/09

MyPenderbrookHome.com

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

INTRODUCTION

5 new homes came on the market again this week. PLUS 19 homes are under contract!!! WOW
There are still 28 active homes but these are going fast. Penderbrooks location and community ammenities are definitley contributing to these stats.

As of today (May 7, 2009 11 AM) there are 28 active homes in Penderbrook and 19 homes that are currently under contract and 5 homes that have sold in the last 30 days.

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

Townhomes- 10 active

4 regular sales , 3 bank owned , 3 short sales

Condos - 18 active

1 bedroom condos - 6

2 bedroom condos - 11

3 bedroom condos - 1

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


NEW LISTINGS

According to MLS, there was 5 new listing this week.


UNDER CONTRACT

According to MLS, there are 10 Condos and 9 townhomes under contract.

Condos

12151 Penderview Ln #2027 - 1bd/1ba (551 DOMP)
3800 Green Ridge Ct #302 - 2bd/2ba (64 DOMP)
12116 Greenway Ct #101 - 3bd/2ba (133 DOMP)
12108 Greenway Ct #101 - 3bd/2ba - (251 DOMP)
12165 Penderview Ter #100 - 1bd/1ba (487 DOMP)
3808 Green Ridge Ct #301 - 3bd/2ba (257 DOMP)
12104 Greenway Ct #201 - 2bd/2ba (85 DOMP)
12103 Green Ledge Ct #201 -3bd/2ba (263 DOMP)
12012 Golf Ridge Ct. NE# 301 - 3bd/2ba (7 DOMP)
3805 Ridge Knoll Ct #10B (0 DOMP)

Townhomes
12112 Wedgeway Pl - 2bd/4ba (6DOMP)
12129 Wedgeway Pl - 2bd/4ba (2 DOMP)
12113 Wedgeway Ct (11 DOMP) - 2bd/4ba (35 DOMP)
3784 Inverness Rd - 3bd/4ba (39 DOMP)
3944 Kathryn Jean Ct -3bd/4ba (6 DOMP)
11718 Valley Ridge Cir -4bd/4ba (87 DOMP)
11702 Valley Ridge Cir -3bd/4ba (57 DOMP)
3907 Clares Ct -3bd/4ba (66 DOMP)
3803 Inverness Rd -3bd/4ba (6 DOMP)

I will have the final numbers for these once they close


SOLD

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

3912 Penderview Dr #507 - 1bd/1ba (126 DOMP) - Bank Owned

Asking Price - $119,900
Sales Price - $125,000
Seller Subsidy - $3,655

12008 Ridge Knoll Dr #2 - 2bd/2ba (7 DOMP) - Regular Sale

Asking Price - $235,000
Sales Price - $238,000
Seller Subsidy - $3,000

3910 Valley Ridge Dr -3bd/3ba (147 DOMP) - Bank Owned

Asking Price - $350,000
Sales Price - $347,000
Seller Subsidy - 0

12104 Wedgeway Ct - 2bd/4ba (444 DOMP) - Bank Owned

Asking Price - $360,000
Sales Price - $275,000
Seller Subsidy - $8,250

12004 Golf Ridge Ct #302 - 3bd/2ba (33 DOMP) - Bank Owned

Asking Price -$222,900
Sales Price - $210,000
Seller Subsidy - 0



More Than 30 Days ago


-12017 Lisa Marie Ct (0 DOMP) 3bd/4ba TH - Regular Sale
Asking Price - $445,000 /Sales Price - $429,100 /Seller Subsidy - $ 5,000

-3951 Kathryn Jean Ct (7 DOMP) 3bd/4ba TH - Regular Sale
Asking Price - $429,000 /Sales Price -$409,000 /Seller Subsidy - 0

-12145 Wedgeway Pl (51 DOMP) 4bd/ 3ba TH - Bank Owned
Asking Price -$304,750 / Sales Price - $285,000 / Seller Subsidy - 0

-12102 Green Ledge Ct #302 (88 DOMP) 2bd/2ba Condo - Regular Sale
Asking Price -$249,900 / Sales Price -$220,000 / Seller Subsidy - 0

-12101 Green Leaf Ct #302 (165 DOMP) 3bd/2ba Condo - Regular Sale
Asking Price - $289,900 / Sales Price - $240,000 / Seller Subsidy - $7,200

-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

-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 March


2009 2008 % Change
Total Sold $ Volume $13,961,288 $14,878,678-6.1%
Avg. Sold Price$367,402 $413,297 -11.1%
Median Sold Price $323,500 $381,900-15.9%
Total Units Sold 3836 52%
Avg. Days on Market7991 0%
Avg. List Price for Solds: $397,753 $441,841 -9.9%
Avg. Sale Price as a percentage of Avg. List Price: 92.37%93.54%



Fairfax Condos Sold for 2007 vs. 2008




Fairfax Townhomes Sold for 2007 vs 2008




EXPIRED or WITHDRAWN

There has been 1 listings that have been taken off the market in the last 30 days.


RENTALS

There is currently 4 townhomes for rent and 11 condos

4 townhomes and 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 full licensed Property Management Group.


OBSERVATIONS

Penderbrook continues to thrive. There are still some TH on the newer side that are over priced. But after sitting on the market for a while they are starting to drop their price to where it should be. The smaller TH are selling fast. These are priced perfectly for first time home buyers.

This is what we are hearing on the rumorville. There is obviously low inventory of homes on the market right now, causing multiple offers and craziness to buy homes in NOVA. Well.... We have heard that the banks are going to be getting a lot! a lot of foreclosures by the end of this month and in June. Wells Fargo alone will be putting 30,000 foreclosed homes on the market nationwide. So you can only imagine what all the banks together will do. This could get crazy !

We are also seeing a little bit of trouble with appraisals in some areas. People are outbidding on homes. This means the comps in the neighborhoods are not supporting the bids people are putting on these homes. The problem: You will not get the loan for that amount unless you are paying the difference. If you offer 300k and it appraises for 280k then you have to come up with an extra 20k This is happening in pockets of NOVA and not the case for every home.

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.