Now that summer is officially here, I decided to take a good look at home sales around Northern Virginia this spring. First, let me give you some quick stats on the region as a whole: Home Sales in Northern Virginia 3/1/15-6/1/15 Number of Single Family Home Sales: 2,200 Average Sale Price: $751,109 (98% of list [...]
In the past year we’ve seen the Northern Virginia Real Estate market moderate itself after an explosive 2013. There were fewer home sales in 2014, and home values rose more slowly than in the previous year. In North Arlington and other key 'micro' markets in Northern Virginia, the market moved from a seller’s market to a [...]
There's some good news for the Arlington real estate market today: Arlington VA mortgage rates just hit a 20-month low. According to mortgage company Freddie Mac, the nationwide average for a 30-year mortgage declined to 3.63 percent this week from 3.66 percent a week ago. The rate for 15-year loans slipped to 2.93 percent from 2.98 [...]
The sales numbers in Arlington have been trending slowly downward since July. This is generally to be expected, because the market historically trends downward in the last quarter of the year. But is there any reason to be worried about this year's slowdown, and is it different than previous years? Not really, in my opinion. I pulled [...]
Google Is Getting into the Real Estate Prediction Game Interesting news on the national real estate front: Google, who recently acquired auction.com is looking to revolutionize real estate market prediction through what they are calling the Nowcast. This data-mining prediction tool is supposed to provide accurate, real-time market intelligence that is a month ahead of [...]
How Many $1.2-$1.7 Million Buyers Are REALLY Out There? Someone recently asked me this question, and I realized that I had no idea. So I asked my good friend John Yannetti from Charter One. Here's what he had to say: Hi Lou, Thanks for your question. So, the qualification of a client is actually pretty [...]
As part of my regular research, I look at key neighborhoods of North Arlington VA real estate. I see what's sold recently, and examine the current market trends. This week I took a look at the year so far in Bon Air and Dominon Hills. These neighborhoods of North Arlington are adjacent and interconnected, and the combined area of single [...]
In The Current Housing Market, Does It Make More Sense to Remodel Your Arlington VA Home or to Move? There are a lot of reasons that people ask themselves this question. Maybe the house you live in suddenly feels too small, or the outdated aspects become too much to deal with on a daily basis. [...]
As part of my regular research, I look at key neighborhoods of North Arlington real estate. I see what's sold recently, and examine the current market trends. This week I took a look at the year so far in Cherrydale Real Estate Arlington VA, as well as Waverly Hills. These neighborhoods of North Arlington are adjacent and interconnected, and [...]
Sites like Zillow and Trulia pretty much own internet real estate these days. Everyone starts their home search on one of these sites, and many potential home sellers also use them as a starting point for figuring out how much their home is worth. The models these sites use to predict home values are cutting-edge, but [...]
