Real Estate in North Springfield VA & Virginia Homes for Sale

It is generally  known that the North Springfield VA real estate market has been in transition the past 18 months.  How have the Springfield real estate sales fared compared to a year ago and to the rest of Fairfax County.  Have home sales increased?  Have prices come down?  In general the peak of the market for the region was the summer/fall of 2005.  Since then buyers and sellers have been negotiating on what the new market value is of most North Sprinffield VA single family homes.


I live in North Springfield VA and love it.  The lots are larger than some parts of Northern Virginia and it is also quieter.  Residents take pride in their yards and it is very convenient as it's just off… Read Full Post

Market Values for Condos in Arlington VA

I've noticed in the last 2 weeks the emergence of a new market value for 1 bedroom condos in Arlington VA on the orange line in Clarendon, Ballston & Courthouse.  What used to be in the low $400,000s may now be worth in the upper $300,000s.  Here are some recent Arlington condo listings--some of them in my favorite buildings such as Continental, Odyssey and 1800 Wilson.



What is interesting is that 2 of them are in Odyssey--in my opinion the premier condo of Arlington VA on the orange line.  Another is in Continental and 1800 Wilson and Clarendon 1021.  These are cutting edge communities and for 4 listings to come out recently under $400,000 in these buildings could be a sign of what I'm expecting--a… Read Full Post

It's common knowledge that the market shifted in the last 18 months.  But it's only now that the statistics are verifying some of the price corrections....Many of us on the front lines knew prices in reality were different a long time ago, however this was not being illustrated by the monthly stats as far as the price variable was concerned.   Why not?  Well the stats on price only reflect sold homes.  Thus all the homes that

did not sell,

rented

expired

or were withdrawn due to not being able to get a price the owner wanted

did not get factored into selling price statistics the previous year.  Thus the public kept hearing about a buyers' market but the market reports showed no drop in sold prices. … Read Full Post

A new FSBO services page has been added to JustNewListings.com.  There are many shortcomings for owners going the route of for sale by owner.  If their goal is to retain some control and save some money, a more effective path is a discounted listing.

Here are the advantages of discounted Virginia and DC real estate listings versus for sale by owner:

MLS--home is listed for buyers to find when they search for phrases such as "northern virginia mls", "annandale virginia real estate", "clarendon condos", etc.

Selling agents with buyers are not afraid to bring by their clients to discounted listings when another realtor is on the other end so long as they are being offered their commission

Expertise--objective advice on how to price the…

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Click here to read original version: 1800 Wilson Condo Bomb Hits Arlington VA Real Estate

After reading the article feel free to view the current active listings in our area for these "hot searches"--and you'll find the other articles in the overpriced category to be much more humorous and biting so check out the menu bar to the left to access those other posts on overpriced listings:

Clarendon Condos 2BR $400,000-650,000

Orange Line Condos 1BR $250,000-480,000

 

A bomb of sorts just hit the orange line  Arlington VA condo market.  It's called 1800 WILSON condominium.  Many owners just lost $25,000+ instantly....The good news it's somewhat temporary and only affects knowledgeable buyers so that leaves a  LOT of buyers left for you to sell your…

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What is the best way to sell an Arlington VA condo?  Should one hire a "high powered" listing agent you see in the paper to get the job done for 6%?  I think not....






Live and learn! Read Full Post

For Arlington VA real estate 2006 was a year when buyers and sellers did not get along.  Hence there were 12% fewer transactions in 2006 versus 2005 for Arlington County real estate.  Of course with prices so high fewer transactions was probably to be expected.  Average list price was 3% higher in 2006 as well, however the median sales price was down 3%. That's a sign something the buyers and sellers were having "issues". 

Average List Price Tumbles for Real Estate in Arlington & Clarendon

What is interesting to note that by January 2007 versus January 2006, the average list price tumbled 13% from $615,771 down to $533,556.  Of course the reason that the median sales price was down only 3% is that the stats had yet to reflect the true (lower ) value… Read Full Post

How to Sell an Arlington VA Condo:

So what's the best way to sell a condo in Arlington Virginia real estate?  I think it's pretty simple to figure out.  Pretend you're going to buy a condo in Arlington VA.  Then make sure your condo is found when using the methods for searching for a home employed by buyers in the 21st century.

Don't get stuck on the idea of photos of your home in the newspaper that make you feel so special, "Look, mom, that's my home in the Arlington Sun Gazette!  Aren't you proud of me, dad?  I'm important now everybody...." 

So who is looking in the Sun Gazette (insert your local community newspaper) to do their home searches?  Probably not the buyers.  But I'm sure other sellers are there looking at their pretty homes.  And… Read Full Post