Just the stats, Mam, all we need are the stats

There has been a lot of news from the national media on how July was the worst month in the last 15 years in real estate.  Let’s take a look at our local market and you will see things aren’t all that bad in northern Virginia.

Pending home sales are way down compared to last year, 23.3% in fact.  That reflects a slow down in market activity for the month of July… probably a good thing if you are a buyer.

Compared to last year, we now have a 4.55 months supply of homes on the market.  This is an uptick of about a month, but it’s reflective of a good market.  I’ll give the edge to buyers on this one though.

However, when we look at Sales Prices, they are up an average of nearly 11% compared to last year!!  That is GREAT if you are a seller. 

My advise: if you are a buyer, now is a good time to get into the market! 

Get the PDF version of the Northern Virginia Association of Realtors July, 2010 Market Statistics for Northern Virginia by clicking below:

NVAR Market Statistics July 2010

Saratoga Floorplan

Now is a great time to buy a new home.  Van Metre homes is offering a $10,000 Closing Cost Credit when using their lender and title company.  This home features:

• 3,004 square feet on two finished levels
• Oak stairs with a carpet runner
• Hardwood floors on the main level
• Gourmet kitchen with granite countertops
• Stainless appliances
• Bay window in study
• Basement bath and wet bar rough-ins
• Jeld-Wen windows
• Priced to sell at $548,300.

Allow me to introduce you to this home or others in the Ashburn area!

South Riding

Toll Brothers, the developer in South Riding has two new homes available for immediate delivery. Home site 54 is priced at $429,968 and home site 57 is priced at $444,877.

Both are two car garage, brick fron townhouses, offer fantastic kitchens, and huge master baths.  I don’t suspect either one will last on the market much longer… give me a call so we can get your offer in before it’s too late!

Remember, you can search all homes for sale, including new construction at my website: ClickonVirginia.ListingBook.com . It’s a great tool, it allows you to search for homes like an agent!!

OK, OK… I know the chart is hard to read, but mortgage interest rates have hit historic lows, again!!  If you are on the fence about purchasing a home, look at the rates, look at how affordable homes are, and take the plunge!!

Prior to entering real estate, I was a mortgage loan officer for six years.  I used to do one year adjustable rate loans at 7.5%!  You can get a 30-year fixed below 5% now!!

The Defense Finance and Accounting Service recently terminated or suspended thirty nine employees who were unable to maintain acceptable credit.

Reasons included: financial delinquencies, bankruptcies, tax liens, and the like.  If you find yourself in this type of situation, particularly if you are behind in your mortgage payments, a short sale might be the solution to help you get out of your current situation and maintain acceptable credit to keep your job.

I am a Certified Distressed Property Expert, and have special training to assist Sellers  who find themselves in a difficult situation.

The House of Representatives voted 409 to 5 in favor of extending the homebuyers tax credit for closing mortgages.

The Senate will most likely pass the measure today, so no Contracts closing today will miss out on the tax credit.

Why were you closing on the last day anyways??!!

Happy Tax Day!  Did you know there are 526 tax forms to consider when doing your taxes?  My personal favorite is Form 6478 – Credit for Alcohol Used as Fuel. (I don’t think the IRS really counts beer as fuel, though it does keep me going sometimes).

According to RisMedia’s Power Broker Report, RE/MAX Allegiance sold more real estate than any other RE/MAX company in 2009!  Thanks go to the entire RE/MAX team… brokers, agents, and support staff for keeping RE/MAX Allegiance on top!

On a nationwide basis, RE/MAX Allegiance ranked #22 in the country by total sales volume! One of our local competitors has 19 times as many agents, but only came in with 8 times the volume…. you know where the full time pros live… RE/MAX Allegiance!!

April marks the 42nd Anniversary of the 1968 landmark Fair Housing Act.  Each year Realtors recognize the significance of the event and reconfirm our commitment to upholding fair housing laws as well as our commitment to offering equal professional service to all in their search for a home.

Hat’s off to all my fellow Realtors for embracing fair housing… not only is it the law, but it makes good business sense!

The IRS Tax Form 5405 is the form you need to attach to your tax return to claim the First-Time Homebuyer Credit. NOTE: There is also a provision of the law which allows move-up buyers to claim a credit as well.

Take a look at it, the form walks you through the requirements and claim what is owed you!

Download the form here: IRS Tax Form 5405