Arlington Housing Report

Washington Business Journal Reports Mortgage Rate Reaches New Record Low

pcarbajal — Mon, 07 May 2012 16:50:09 +0000

Washington Business Journal: Mortgage rates reach new record low

Washington Business Journal and Freddie Mac recently reported that mortgage rates have dropped, once again, to a new record low. The average rate of 30-year fixed mortgage fell to 3.84% for the week ending May 3, 2012 in comparison to the previous all-time low recorded on February 9, 2011 at 3.87%. The 15-year mortgage rate dropped to 3.07% .

“Signs of slowing economic growth and inflation remaining subdued allowed yields on Treasury bonds to ease somewhat and brought most mortgage rates to new all-time record lows this week,” said Freddie Mac (OTC BB: FMCC) Chief Economist Frank Nothaft.

Interested in understanding WHY such drop has occured? CALL NORM

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– Search for Arlington homes, condos, and townhomes for sale by metro stop
– Arlington VA condos for Sale – Clarendon Condos for sale
– Relocating to Arlington, VA

Feel free to contact me anytime Norm [at] callnorm.com Make it a great day! www.callnorm.com Keller Williams Realty Arlington VA

Arlington VA homes for sale in the following zip codes
22201, 22203, 22205, 22207, 22209, 22213,22202, 22204, 22206

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Arlington VA March 2012 Statistics

pcarbajal — Tue, 01 May 2012 21:49:50 +0000

Real Estate Business Intelligence: March 2012, Arlington, VA

Statistic	Values	YoY	MoM
Total Sold Dollar Volume	$108,139,493	+1.61%	+16.75%
Closed Sales	194	0%	+13.45%
Median Sold Price	$509,450	+8.97%	+6.14%
Avg Sold Price	$557,420	+1.61%	+2.91%
Avg Days on Market	74 days	-5.13%	-5.13%
Avg Sold to Orig List Ratio	96.17%	-0.06%	+0.52%

It seems as if the days and months are going by quicker than expected. The warmer weather is finally back around which agents primarily regard it as THE hot season for real estate. Agents are hoping that during this time of warm weather, buyers and sellers are more motivated and enthusiastic about buying or selling their homes. Not only, are homes more appealing during this great weather, i.e. flowers blooming & better lighting, it also helps in grasping the true comfortable feeling that one yearns when looking for a new home.

As usual, my monthly statistics overview is available in order to guide those, buyers/sellers, in understanding where the market stands and for a better idea of what you are competeing against. In short, the month of March was a great month. It was a month of positive progression and we hope it continues along this upward path.

Let me first point out certain facts that I find to be important and appealing to homeowners trying to sell their home:

Increase in the Average Sold Price
Increase in the Average Sold vs. Original Listing Price Ratio
Increase in the Median Sold Price
Increase in Closed Sales
Decrease on Average Days on Market

What exactly does this mean for a homeowner trying to sell their current home? What this means is that homeowners are receiving the exact amount or even MORE for their homes true value. Listings are being purchased at a faster rate and at the listing price or even MORE. Right now, homeowners are WINNING!

What about buyers? How do these statistics help a buyer?

These statistics are helpful for buyers in many ways. Before making an offer, it is important for buyers to know where the market is so that they have an idea of how much homes are going for at that moment. From the statistics above, it is clear that homes have been on the market for shorter number of days meaning homes are being purchased so fast that many are losing good opportunities. Buyers have to act FAST! As for prices, its evident that homes are being purchased for the listed amount or even more. Buyers need to keep in mind that homeowners are not budging when it comes to negotiation. Buyers be PREPARED!

Statistics in full: Arlington March Statistics

I can help you:

Feel free to contact me anytime Norm [at] callnorm.com Make it a great day! www.callnorm.com Keller Williams Realty Arlington VA

Arlington VA homes for sale in the following zip codes
22201, 22203, 22205, 22207, 22209, 22213,22202, 22204, 22206

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MRIS Statistics Alert: February 2012

pcarbajal — Mon, 19 Mar 2012 18:11:59 +0000

Real Estate Business Intelligence & MRIS recently posted its February 2012 statistics, you can see the table summary below:

Statistic	Values	YoY	MoM
Total Sold Dollar Volume	$92,626,037	+32.65%	+35.9%
Closed Sales	171	+26.67%	+40.16%
Median Sold Price	$480,000	+8.72%	-6.52%
Avg Sold Price	$541,673	+4.73%	-3.04%
Avg Days on Market	78 days	+9.86%	+1.3%
Avg Sold to Orig List Ratio	95.67%	+0.82%	+0.28%

It is safe to say that February 2012 was a great month for the real estate market. There have been an incredible amount of closed sales in comparance to that of the previous winter months; closed sales went up 40.16%. Median sold price and average sold price did decrease in February but it wasn’t extravagant. The increase of closed sales overrides the small increase on the average number of days a listing was on the market. Even though prices of homes decreased, homes were still being sold.

Full Statistics Overview

The warmer weather DOES bring in buyers and sellers so let me help you find the home of your dreams or sell your home for the most amount of money.

I can help you:

Feel free to contact me anytime Norm [at] callnorm.com Make it a great day! www.callnorm.com Keller Williams Realty Arlington VA

Arlington VA homes for sale in the following zip codes
22201, 22203, 22205, 22207, 22209, 22213,22202, 22204, 22206

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Washington Business Journal States Housing Affordability: An All-Time High

pcarbajal — Fri, 16 Mar 2012 14:33:34 +0000

Washington Business Journal recently posted an article discussing the housing affordability being at an all-time high, “highest affordability index since the Washington-based trade group began keeping track in 1970.”

For January 2012, the measure was listed at an index reading of 206.1. It is calculated by combining housing prices with household incomes and mortgage rates. If the index reading was 100 then that would suggest a medium household income is exactly enough to qualify for the purchase of a median-priced existing home, assuming a 20 percent down payment and 25 percent of gross income devoted to mortgage costs. In short, the January reading states that the typical family has twice the income needed to buy a median-priced home.

“If access to credit improves, we could see a much more meaningful increase in home sales and broader stabilization in home prices with modest gains in areas with stronger job growth.” NAR President Moe Veiss

Full Article: Housing affordability at an all-time high

I can help you:

Feel free to contact me anytime Norm [at] callnorm.com Make it a great day! www.callnorm.com Keller Williams Realty Arlington VA

Arlington VA homes for sale in the following zip codes
22201, 22203, 22205, 22207, 22209, 22213,22202, 22204, 22206

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Negotiations have to start somewhere.

Norm — Thu, 08 Mar 2012 18:26:25 +0000

As I sit here at my desk,

I am thinking about a recent transaction. A property listed at $475,000 received showing after showing. The front door had to be replaced with a turnstile to limit the occupancy at any one time. It went on like this for almost 90 days and no offers. Then the price adjusts to $450,000 and 3 offers in a matter of days. Wow.

What I am pondering is why were there not any previous offers? What is it about the number $25,000? Anyone could have started at$450,000 a long time ago. Were the potential buyers being too nice? What is the definition of a low ball offer? How low is too low? Maybe the value was not clear.

What is the ball park range to describe a good value?
A list price Below the tax record?
A good Zestimate or eAppraisal? Would those things have encouraged an offer?

Maybe it is just good old fashioned Karma. Things happen when the are supposed to happen.

I would say if you are a buyer, make your offer now. Negotiations have to start somewhere.

Norm

Warren Buffett & The Real Estate Market

pcarbajal — Tue, 06 Mar 2012 18:02:17 +0000

Warren Buffett recently appeared on CNBC’s Squawk Box and during his interview, he was asked about the current real estate market and whether or not he felt that, right now, was the time to buy. His response was “if I had a way of buying a couple hundred thousand single-family homes I would load up on them. “

Warren Buffett is known as the “Oracle of Omaha” but most notable for being one of the greatest investors of all time. As of 2008, his net worth was estimated at $62 billion, making him one of the richest men in the world.

In summary, Buffett thinks that everyone should invest in buying and owning a home and he is not alone. Not only is it a positive investment but also a great deal when you take into consideration the 30 year fixed rate. Many financial analysts have come to the same conclusion as Buffett: It’s time to buy real estate!

Full Article: Warren Buffett: It’s Time to Buy Real Estate

I can help you:

Feel free to contact me anytime Norm [at] callnorm.com Make it a great day! www.callnorm.com Keller Williams Realty Arlington VA

Arlington VA homes for sale in the following zip codes
22201, 22203, 22205, 22207, 22209, 22213,22202, 22204, 22206

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Arlington Va Homes for sale: Country Club Hills

pcarbajal — Tue, 28 Feb 2012 16:03:27 +0000

Arlington Va Homes for sale: Country Club Hills!

I recently fell upon an article about Country Club Hills, published by the Washingtonian who seem to cover anything and everything that has to do with the DC area, and that includes Arlington. This article specifically covered everything I wanted to say regarding this GREAT community: Country Club Hills.

Homefront: This began as a small neighborhood of 1940s-style summer homes built into the Arlington hills and around the Washington Golf and Country Club. It’s now a mix of some 500 ramblers, Tudors, and Colonials, which have retained a traditional look despite renovations.

When Rose DiNapoli, an interior designer who has lived in the neighborhood since 1994, and her husband bought their rambler, they added two floors from which they can see the National Cathedral.

Who lives here: Young and middle-aged families, though some retirees are longtime locals.

The vibe: Kids take over cul-de-sacs for lacrosse and soccer. “It’s still the kind of neighborhood where if someone gets sick, the neighbors take cookies and casseroles over,” says Sharon Chamberlin, who has lived here for 47 years.

Dog dip: Residents walk their dogs to the nature trails and native-plant garden around Gulf Branch Nature Center and down to the Potomac for a swim.

Biggest draw: Yorktown High, considered one of the best schools in Washington. Last year, the Siemens Foundation rated its Advanced Placement program tops in Virginia.

For More Facts regarding this great, family-orientated community, Country Club Hills, check out the full article. Full Article: Bring the Family: Country Club Hills

Are YOU interested in moving into this community? Check Out the Available Listings Below:

Showing properties 1 - 5 of 8. See more Country Club Hills.
(all data current as of 5/19/2012)

$960,000 : 3441 Glebe Rd N, Arlington

4 beds, 2 full, 2 part baths

Lot size: 7,540 sqft
$1,699,000 : 4404 33rd Rd N, Arlington

5 beds, 4 full, 1 part baths

Home size: 4,515 sq ft

Lot size: 13,903 sqft
$1,729,000 : 3721 Wakefield St, Arlington

6 beds, 6 full baths

Home size: 5,152 sq ft

Lot size: 12,160 sqft
$2,475,000 : 4600 32nd Rd N, Arlington

4 beds, 3 full, 2 part baths

Lot size: 15,025 sqft
$2,275,000 : 4607 33rd St N, Arlington

4 beds, 5 full, 2 part baths

Lot size: 13,000 sqft

Listing information deemed reliable but not guaranteed. Read full disclaimer.

I can help you:

Feel free to contact me anytime Norm [at] callnorm.com Make it a great day! www.callnorm.com Keller Williams Realty Arlington VA

Arlington VA homes for sale in the following zip codes
22201, 22203, 22205, 22207, 22209, 22213,22202, 22204, 22206

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Real Estate For Sale in the 22201 Area

pcarbajal — Fri, 24 Feb 2012 15:50:13 +0000

LOOKING FOR THE HOUSE OF YOUR DREAMS?

OR just looking for a Arlington VA home for Sale, well let me help. Check out the available Arlington homes for sale within the 22201 zip code area below:

Showing properties 1 - 5 of 121. See more 22201 zip code real estate.
(all data current as of 5/19/2012)

$335,000 : 1029 Stuart St N #511, Arlington

1 bed, 1 full bath

Home size: 704 sq ft
$839,000 : 3401 15th St N, Arlington

4 beds, 3 full baths

Lot size: 6,826 sqft
$1,325,000 : 302 Lincoln St N, Arlington

5 beds, 3 full, 1 part baths

Home size: 4,195 sq ft

Lot size: 6,770 sqft
$425,500 : 1045 Utah St N #502, Arlington

2 beds, 2 full baths
$724,950 : 7 Garfield St, Arlington

5 beds, 3 full, 1 part baths

Home size: 3,180 sq ft

Lot size: 6,232 sqft

Listing information deemed reliable but not guaranteed. Read full disclaimer.

I can help you:

Feel free to contact me anytime Norm [at] callnorm.com Make it a great day! www.callnorm.com Keller Williams Realty Arlington VA

Arlington VA homes for sale in the following zip codes
22201, 22203, 22205, 22207, 22209, 22213,22202, 22204, 22206

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STATS ALERT: January 2012

pcarbajal — Thu, 16 Feb 2012 14:32:49 +0000

Statistic	Values	YoY	MoM
Total Sold Dollar Volume	$68,155,979	+2.31%	-24.11%
Closed Sales	122	-6.87%	-27.81%
Median Sold Price	$513,500	+17.24%	+8.11%
Avg Sold Price	$558,656	+9.86%	+5.13%
Avg Days on Market	77 days	-2.53%	+24.19%
Avg Sold to Orig List Ratio	95.4%	+1.41%	+0.06%

The new year started off generally slow, but it has been projected to pick-up later on throughout the year. According to MRIS monthly stats, January 2012 was not too great but we are confident it will not stay as is, check out the stats below:

Cons

Number of homes sold decreased
Number of days a home was on the market increased
Number of closed sales decreased

Pros

Median price of homes sold increased
Average sold price of a home on the market increased

Let Me Help You Find Your New Home!

I can help you:

Feel free to contact me anytime Norm [at] callnorm.com Make it a great day! www.callnorm.com Keller Williams Realty Arlington VA

Arlington VA homes for sale in the following zip codes
22201, 22203, 22205, 22207, 22209, 22213,22202, 22204, 22206

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Hidden Title Hazards-Your Last Defense

pcarbajal — Wed, 08 Feb 2012 18:38:58 +0000

DID YOU KNOW…

In spite of all the expertise and dedication that go into a title search and examination, hidden hazards can emerge after closing, resulting in unpleasant and costly surprises. Some examples of hazards include:

A forged signature on the deed, which would mean no transfer of ownership to you
An unknown heir of a previous owner who is claiming ownership of the property
Instruments executed under an expired or a fabricated power of attorney
Mistakes in the public records

Title insurance offers financial protection against these and other covered title hazards. The title insurer will pay for defending against the attack on title as insured, and will either perfect the title or pay valid claims – all for a one-time charge at closing.

Your home is your most important investment. Before you go to closing, ask Universal Title about your title insurance protection, and be sure to protect your home with an owner’s title insurance policy.

As always if there is anything I can assist you or your clients with please do not hesitate to call or email me.

I can help you:

Feel free to contact me anytime Norm [at] callnorm.com Make it a great day! www.callnorm.com Keller Williams Realty Arlington VA

Arlington VA homes for sale in the following zip codes
22201, 22203, 22205, 22207, 22209, 22213,22202, 22204, 22206

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Add blog to our blog directory.