Tuesday, May 12, 2009

Fair Ridge Homes Weekly Report 5/1/09-5/12/09

MyFairRidgeHome.com

Relevant Real Estate Information for the Fair Ridge Townhome Community

INTRODUCTION

Fair Ridge has not been that active in the market this year. There are 2 TH available, both are regular sales. One has been totally redone and looks great, but probably still priced a little bit high.

If you are thinking about selling your place or know of someone looking to buy in Fair Ridge. Contact us today. We would be honored to help.

As of today (May 12, 2009 11 AM) there are 2 active homes in Fair Ridge and 3 homes that are currently under contract and 1 home that has sold in the last 30 days.

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

Townhomes- 2 ( 2 regular sales)


NEW LISTINGS

According to MLS, there was 1 new listing this week.


UNDER CONTRACT

4249 Fox Lake Dr - 4bd/4ba (128 DOMP)

12316 Fox Lake Pl - 4bd/4ba (4 DOMP)

12310 Fox Lake Pl -3bd/4ba (65 DOMP)


I will have the final numbers for these once they close


SOLD

According to MLS, 1 home has sold in the last 30 days .

12218 Apple Orchard Ct - 16 (DOMP) 3bd/4ba - Regular Sale

Asking Price -$359,000
Sales Price -$355,000
Seller Subsidy -$10,000

12319 FIELD LARK CT S #304 - 39 (DOMP) 3bd/4ba - Regular Sale

Asking Price -$360,000
Sales Price -$350,000
Seller Subsidy -$0

4011 Rosemeade Dr - 3bd/4ba (230 DOMP) - Regular Sale

Asking Price -$475,000
Sales Price -$462,500
Seller Subsidy -$2,500

Sold more than 30 days ago

-4203 Fox Lake Dr -14 (DOMP) 4bd/4ba - Bank Owned
Asking Price - $324,900 / Sales Price - $341,000 / Seller Subsidy - 0

-12303 Fieldbrook Pl - 126 (DOMP) 3bd/4ba - Regular Sale
Asking Price - $500,000 / Sales Price - $465,000 / Seller Subsidy - $7,500

-12331 Quiet Hollow Ct - 15 (DOMP) 4 bd/4ba - Regular Sale
Asking Price - $439,900 /Sales Price - $429,900 /Seller Subsidy - $9000

-12301 Sleepy Lake Ct - (15 DOMP) 4bd/4ba (Bank Owned)
List Price - $339,000 / Sales Price - $318,000 / Seller Subsidy - $8,500

-12217 Apple Orchard Ct - (124 Days on Market) 3bd/4ba/1garage (Bank owned)
List Price - $359,000 / Sale Price - $335,000 / Seller Subsidy - $450

-12208 Apple Orchard Ct ( 9 DOMP) 3bd/3ba (Bank Owned)
List Price - $359,000 / Close Price - $359,000 / Seller Subsidy - $10,000


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 0 listing that has been taken off the market in the last 30 days.


RENTALS

There is currently 2 townhome for rent

4 townhomes has 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 fully licensed property management group also. Just ask us more about how this benefits you.


OBSERVATIONS

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 thinking about buying within the next 3 months. Contact us



Disclaimer: Information was gathered from the MLS and is deemed reliable but not guaranteed.

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