Brambleton Real Estate Blog (Ashburn, Loudoun County Real Estate News)

Brambleton Weekly Update for 10/27/09 to 11/1/09

2009-11-03T15:19:00.007-05:00

Quick Summary

New Listings: 4 (+1)
Under Contract: 6 (+2)
Sold: 2 (-3)

(Change from previous week.)

Introduction

As of today 11/3/2009, there are 32 active listings (+2) in MLS and 14 homes (-1) under contract in last 30 days. This gives us an absorption rate of 2.3 which is worse than last week's rate of 2.0.

Here's the breakdown of the active listings:

19 New Constructions (-1) , 10 Traditional Resales (+2), 0 Foreclosure (0) and 3 Short Sales(0).

Click here to view all active listings via FranklyMLS.com.

There's some non-Brambleton listings so just look at the subdivision.

Click here to view all homes under contract via FranklyMLS.com.. There's some non-Brambleton listings so just look at the subdivision.

New

4 new listings came out during the period of 10/27/09 to 11/1/09.

Condo

1. Summerfield Florence. $175,000. (Short Sale)

Townhouse
1. Miller & Smith Merlin. $399,000.

Single Family

1. Winchester Homes Chelsea. $629,900. (Under Contract)

2. Gulick Townsend. $650,000. (Short Sale, Under Contract)

Under Contract

According to MLS, 6 homes went under contract during 10/27/09 to 11/1/09.

Condo
1. Summerfield Venice. $199,900. DOMM/DOMP: 5/5.

Townhouse
1. Beazer Chancery. $395,000. DOMM/DOMP: 0/0. (Short Sale)
2. Beazer Chancery. $399,900. DOMM/DOMP: 16/16. (Short Sale)

Single Family

1. Miller & Smith Clara Bow. $549,900. DOMM/DOMP: 8/8. (Short Sale)

2. Gulick Townsend. $650,000. DOMM/DOMP: 0/0. (Short Sale)

3. Gulick Vincent. $775,000. DOMM/DOMP: 152/152. (Short Sale)

*5 out of 6 homes that went under contract this past week are short sales. Learn more about short sales here.

Sold

2 homes sold during this period. All were distressed properties.

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Condo
1. Summerfield Milano. 42481 ROCKROSE SQ #304. $165,000 - $5,000 = $160,000. DOMM/DOMP: 30/30.(Short Sale)

Single Family
1. Centex Fulton. 23053 MINERVA Dr. $526,000 - $0 = $526,000. DOMM/DOMP: 6/6. (Short Sale)

Conclusion

Nothing new. I do notice the market slowing down. I think the seasonal slowdown is slowly kicking in. I'll report on this more later.

If you have any questions concerning buying or selling in Brambleton or in Northern Virginia, feel free to email me or call me. If you are considering a short sale, you can visit my short sale blog VirginiaShortSaleExpert.com.

Disclaimer: Information is deemed reliable but not guaranteed. MLS data was used which means For Sale By Owner information may have not been included. All homes entered as comps (e.g. new construction) were removed as well. MLS data is subject to human errors such as agents entering wrong values. This is not an appraisal but purely for informative purposes only. If you spot an error, please email me.

Brambleton Weekly Update for 10/19/09 to 10/26/09

2009-10-31T11:20:00.014-04:00

Quick Summary

New Listings: 5 (+2)
Under Contract: 4 (+1)
Sold: 5 (+2)

(Change from previous week.)

Introduction

As of today 10/28/2009, there are 30 active listings (-1) in MLS and 15 homes (+3) under contract in last 30 days. This gives us an absorption rate of 2.0 which is better than last week's rate of 2.6.

Here's the breakdown of the active listings:

20 New Constructions (0) , 8 Traditional Resales (+1), 0 Foreclosure (0) and 3 Short Sales(-1).

Click here to view all active listings via FranklyMLS.com.

There's some non-Brambleton listings so just look at the subdivision.

Click here to view all homes under contract via FranklyMLS.com.. There's some non-Brambleton listings so just look at the subdivision.

New

5 new listings came out during the period of 10/19/09 to 10/26/09.

Condo

1. Summerfield Venice. $199,900. (Under Contract)

Townhouse
1. Centex Middleton. $329,000.
2. Beazer Chancery. $395,000. (Temp Off)

Single Family

1. Miller & Smith Clara Bow. (Short Sale, Under Contract)

2. Stanley Martin Braxton. (New Construction)

Under Contract

According to MLS, 4 homes went under contract during 10/19/09 to 10/26/09.

Condo
1. Beazer Chancery. $399,900. DOMM/DOMM: 16/16. (Short Sale)

Single Families

1. Centex Porter. $569,900. DOMM/DOMP: 14/14.

2. Christopher Companies Kensington. DOMM/DOMP: 8/8. (Short Sale)

3. Gulick Vincent. $775,000. DOMM/DOMP: 152/152. (Short Sale)

*These homes went under contract after 10/26 so these homes should be on next week's update.

Sold

5 homes sold during this period. All were distressed properties.

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Condo
1. Summerfield Como. 42447 HOLLYHOCK TER . $131,900 - $0 = $131,900. DOMM/DOMP: 10/10. (Foreclosure)
2. Summerfield Florence. 42539 MAYFLOWER TER #201. $170,000 - $5,950 = $164,000. DOMM/DOMP: 8/70. (Foreclosure)
3. Centex O'Hare. 22753 SETTLERS TRAIL TER #15H. $329,900 - $11,547 = $318,353. DOMM/DOMP: 146/146.

Townhouse
1. Centex Middleton. 42484 Coronado Ter. $331,000 - $0 = $331,000. DOMM/DOMP: 9/9.

Single Family
1. Stanley Martin Ballou III. 23085 PECOS LN. $520,000 - $2,000 - $518,000. DOMM/DOMP: 61/61. (Short Sale)

Conclusion

Nothing really new.

Brambleton Weekly Update for 10/12/09 to 10/18/09

2009-10-21T01:23:00.001-04:00

Quick Summary

New Listings: 3 (0)
Under Contract: 4 (+2)
Sold: 3 (+1)

(Change from previous week.)

Introduction

As of today 10/20/2009, there are 31 active listings (-3) in MLS and 12 homes (-1) under contract in last 30 days. This gives us an absorption rate of 2.6 which is same as last week's rate of 2.6.

Here's the breakdown of the active listings:

20 New Constructions (0) , 7 Traditional Resales (0), 0 Foreclosure (0) and 4 Short Sales(-3).

Click here to view all active listings via FranklyMLS.com.

There's some non-Brambleton listings so just look at the subdivision.

Click here to view all homes under contract via FranklyMLS.com.. There's some non-Brambleton listings so just look at the subdivision.

New

3 new listings came out during the period of 10/12/09 to 10/18/09.

Condo

1. Summerfield Sienna. $285,000.

Single Family

1. Beazer Wyndam. $620,000. (Short Sale, Under Contract)

2. Winchester Homes Browing. $699,000. (Short Sale, Temp Off)

Under Contract

According to MLS, 4 homes went under contract during 10/12/09 to 10/18/09.

Condo
1. Summerfield Como. $169,900. DOMM/DOMP: 164/142. (Short Sale)*

Townhouse
1. Miller & Smith Merlin. $413,030. DOMM/DOMP: 97/97. (New Construction)

Single Family

1. Christopher Companies Kensington. $579,900. DOMM/DOMP:8/8. (Short Sale)

2. Beazer Whyndam. $620,000. DOMM/DOMP: 5/5. (Short Sale)**

3. Gulick Winthrop. $875,000. DOMM/DOMP: 112/112.

*This is the second time this condo went under contract. I believe last time it was listed at $159,900. This is typical with short sales. Either the buyer changes their minds or bank counters at a higher price.

**This home went under contract after 10/18/09 so it belongs in next week's update.

Sold

3 homes sold during this period. All were distressed properties.

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Condo

1. Summerfield Milano. 22668 BLUE ELDER TER #104. $145,000 - $0 = $145,000. DOMM/DOMP: 13/13. (Foreclosure)*

Single Family

1. Centex Stratton. 42471 MALACHITE TER. $301,000 - $0 = $301,000. DOMM/DOMP: 20/20. (Short Sale)

2. Winchester Chelsea. 42780 HERMITAGE CT. $630,000 - $0 = $630,000. DOMM/DOMP: 4/4. (Short Sale)**

*22668 BLUE ELDER TER #104 was listed for $127,900 but sold for $145,000. This is typically with low end foreclosures and short sales.

**42780 HERMITAGE CT was listed for $575,000 but sold for $630,000. There were 17 contracts within first couple days. This short sale was listed on 9/2/09 and closed on 10/16/09. Some short sales can get approved quickly. I just settled on a Bank of America short sale that was approved in 28 days. Here's the link to my short sale blog. Read other agents' comments. Short sales don't have to be frustrating.

Conclusion

Nothing really new.

Brambleton Weekly Update for 10/05/09 to 10/11/09

2009-10-12T10:07:00.000-04:00

Quick Summary

New Listings: 3 (-1)
Under Contract: 2 (-1)
Sold: 2 (-2)

(Change from previous week.)

Introduction

2009 Q3 Summary will be posted in few days. It's the most detailed and comprehensive report on Brambleton real estate market.

As of today 10/12/2009, there are 34 active listings (+4) in MLS and 13 homes (-7) under contract in last 30 days. This gives us an absorption rate of 2.6 which is worse than last week's rate of 1.6.

Here's the breakdown of the active listings:

20 New Constructions (0) , 7 Traditional Resales (0), 0 Foreclosure (0) and 7 Short Sales(+4).

Click here to view all active listings via FranklyMLS.com.

There's some non-Brambleton listings so just look at the subdivision.

Condo

1. Summerfield Como. $175,000. (Short Sale)
2. Centex O'Hare. $352,215. (New Construction)

Single Family

1. Beazer Chancery. $399,900. (Short Sale)

Under Contract

According to MLS, 2 homes went under contract during 10/05/09 to 10/11/09.

Condo
1. Summerfield. $127,900. DOMM/DOMP. 13/13. (Foreclosure)

Single Family

1. Winchester Homes Browning (?). $699,900. DOMM/DOMP: 11/11.

Sold

2 homes sold during this period.

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Condo

1. Centex Logan. 22673 SETTLERS TRAIL TER #7G. $262,500 - $0 = $262,500. DOMM/DOMP: 15/15.

Single Family

1. Miller & Smith Rhapsody. 22803 VICKERY PARK DR. $537,750 - $2,500 = $535,250. DOMM/DOMP: 23/23.

Conclusion

Nothing really new. There's some indication of the market slowing a bit. Take a look at the realtor.com report for one of my listings in Loudoun County. Traditionally the market slows down starting August. Right now homes have been selling due to low inventory and the tax credit incentive. Come late November, we will have a much better idea how much the market slows down.

Brambleton Weekly Update for 9/28/09 to 10/4/09

2009-10-08T09:24:00.006-04:00

Quick Summary

New Listings: 4 (-1)
Under Contract: 3 (+1)
Sold: 4 (+4)

(Change from previous week.)

Introduction

End of the month is always busy with closings. We have 4 homes that closed in MLS compared to 0 homes in the last 2 weeks.

As of today 10/06/2009, there are 30 active listings (+1) in MLS and 20 homes (+2) under contract in last 30 days. This gives us an absorption rate of 1.5 which is better than last's week's rate of 1.6.

Here's the breakdown of the active listings:

20 New Constructions (0) , 7 Traditional Resales (+3), 0 Foreclosure (-2) and 3 Short Sales(0).

Click here to view all active listings via FranklyMLS.com.

There's some non-Brambleton listings so just look at the subdivision.

Condo

1. Centex O'Hare. $329,900.

Single Family

1. Winchester Browning(?). $699,900.

2. Centex Hadley(?). $723,000.

3. Gulick Townsend. $899,900.

This is very interesting. 3 homes priced above 650k hit the market this past week. This is the most number of resales in this price range that I have seen all year. Single families under 600k fly off the shelf. However, homes 650k+ takes some time. We will see if the inventory shortage will impact this segment of the market.

Under Contract

According to MLS, 3 homes went under contract during 9/28/09 to 10/04/09.

Condos
1. Summerfield Milano. $127,000. DOMM/DOMP: 13/13. (Foreclosure)
2. Summerfield Como. $131,900. DOMM/DOMP: 10/10. (Foreclosure)
3. Summerfield Napoli. $185,000. DOMM/DOMP: 7/7. (Short Sale)

Sold

4 homes sold during this period.

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Condos

1. Summerfield Como. 22769 FOUNTAIN GROVE SQ . $150,000 - $6,000 = $144,000. DOMM/DOMP: 2/2. (Short Sale)

2. Summerfield Torino. 42478 HOLLYHOCK TER. $260,000 - $6,000 = $254,000. DOMM/DOMP: 30/30.

3. Centex Logan. 22673 SETTLERS TRAIL TER #7G. $262,500 - $0 = $262,500. DOMM/DOMP: 15/15.*

Townhouses

1. Beazer Chanchery. 42445 GREENSIDE DR. $405,000 - $0 = $405,000. DOMM/DOMP: 9/9. (Short Sale)

2. Beazer Chancery. 42480 LEGACY PARK DR. $420,000 - $0 = $420,000. DOMM/DOMP: 7/7. **

*22673 SETTLERS TRAIL TER #7G settled on 10/6 so this should be on next week's update.

**42480 LEGACY PARK DR actually sold higher than the close price. However due to appraisal issue, it sold for $420,000. It's still the highest sold Beazer Chancery this year.

Conclusion

Nothing really new. Once I return from training in Baltimore, I'll publish the 2009 Q3 summary.

If you have any questions concerning buying or selling in Brambleton or in Northern Virginia, feel free to email me or call me. If you are considering a short sale, you can visit my short sale blog VirginiaShortSaleExpert.com.

Disclaimer: Information is deemed reliable but not guaranteed. MLS data was used which means For Sale By Owner information may have not been included. All homes entered as comps (e.g. new construction) were removed as well. MLS data is subject to human errors such as agents entering wrong values. This is not an appraisal but purely for informative purposes only. If you spot an error, please email me.

Brambleton Weekly Update for 9/21/09 to 9/27/09

2009-09-30T01:08:00.000-04:00

Quick Summary

New Listings: 5 (+2)
Under Contract: 2 (-5)
Sold: 0 (0)

(Change from previous week.)

Introduction

It was a quiet week with no homes closings. There's tons of homes closing next week so we'll get a lot of insight into the market. Back to weekly update.

As of today 9/28/2009, there are 29 active listings (+2) in MLS and 18 homes (-1) under contract in last 30 days. This gives us an absorption rate of 1.6 which is worse than last's week's record low of 1.4.

Here's the breakdown of the active listings:

20 New Constructions (+1) , 4 Traditional Resales (-2), 2 Foreclosure (+1) and 3 Short Sales (+2).

Click here to view all active listings via FranklyMLS.com.

There's some non-Brambleton listings so just look at the subdivision.

Condo

1. Summerfield Milano. $127,000. (Foreclosure)
2. Summerfield Como. $131,900. (Foreclosure)
3. Summerfield Napoli. $185,000. (Short Sale)

Single Family

1. Miller & Smith Fannie Ward. $470,666. (New Construction)

2. Centex Harrison. $679,900.

Under Contract

According to MLS, 4 homes went under contract during 9/21/09 to 9/27/09.

1. Miller & Smith Merlin. $339,900. DOMM/DOMP: 11/11. (Foreclosure)

Single Families
1. Miller & Smith Spirit of St Louis. $549,900. DOMM/DOMP: 119/119.
2. Centex Porter. $569,900. DOMM/DOMP: 5/5.
3. Chrisopther Companies Kensington. $579,900. DOMM/DOMP: 3/3.

Sold

According to MLS, no home settled this past week.

Conclusion

2009 Q3 summary will be coming out soon so be on the lookout for it.

If you have any questions concerning buying or selling in Brambleton or in Northern Virginia, feel free to email me or call me. If you are considering a short sale, you can visit my short sale blog VirginiaShortSaleExpert.com.

Disclaimer: Information is deemed reliable but not guaranteed. MLS data was used which means For Sale By Owner information may have not been included. All homes entered as comps (e.g. new construction) were removed as well. MLS data is subject to human errors such as agents entering wrong values. This is not an appraisal but purely for informative purposes only. If you spot an error, please email me.

Weekly Brambleton Update for Week of 9/14/09 to 9/20/09

2009-09-22T09:40:00.000-04:00

Quick Summary

New Listings: 3 (-1)
Under Contract: 2 (-5)
Sold: 0 (-3)

(Change from previous week.)

Introduction

As of today 9/21/2009, there are 27 active listings (+2) in MLS and 19 homes (-2) under contract in last 30 days. This gives us an absorption rate of 1.4 which is worse than last's week's record low of 1.2.

Here's the breakdown of the active listings:

19 New Constructions (+3) , 6 Traditional Resales (+1), 1 Foreclosure (0) and 1 Short Sales (-2).

Click here to view all active listings via FranklyMLS.com.

There's some non-Brambleton listings so just look at the subdivision.

1. Centex Porter. $569,900.

2. Christopher Companies Kensington. $579,900. (Under Contract)

3. Stanley Martin Braxton. $630,005. (New Construction)

Under Contract

According to MLS, 2 homes went under contract during 9/14/09 to 9/20/09.

Townhouse
1. Centex Courtland. $334,900. DOMM/DOMP: 36/36.

Single Family
1. Centex Carlson. DOMM/DOMP: 94/94. (Short Sale)

Sold

According to MLS, no home settled this past week.

Conclusion

It was an uneventful week. 2009 Q3 summary will be coming out soon so be on the lookout for it.

If you have any questions concerning buying or selling in Brambleton or in Northern Virginia, feel free to email me or call me. If you are considering a short sale, you can visit my short sale blog VirginiaShortSaleExpert.com.

Disclaimer: Information is deemed reliable but not guaranteed. MLS data was used which means For Sale By Owner information may have not been included. All homes entered as comps (e.g. new construction) were removed as well. MLS data is subject to human errors such as agents entering wrong values. This is not an appraisal but purely for informative purposes only. If you spot an error, please email me.

Weekly Brambleton Real Estate Update for 9/7/09 to 9/13/09

2009-09-15T08:31:00.007-04:00

Quick Summary

New Listings: 4 (+1)
Under Contract: 7 (+2)
Sold: 3 (+1)

(Change from previous week.)

Introduction

As of today 9/15/2009, there are 25 active listings (-3) in MLS and 21 homes (0) under contract in last 30 days. This gives us an absorption rate of 1.2 which is record low since I kept track.

Here's the breakdown of the active listings:
16 New Constructions (-2) , 5 Traditional Resales (0), 1 Foreclosure (0) and 3 Short Sales (-1).

Click here to view all active listings via FranklyMLS.com. There's some non-Brambleton listings so just look at the subdivision.
Click here to view all homes under contract via FranklyMLS.com. There's some non-Brambleton listings so just look at the subdivision.

New

4 new listings came out during the period of 9/7/09 to 9/13/09.

Townhouse
1. Miller & Smith Merlin. $339,900. (Foreclosure)
2. Beazer Chancery. $350,000 (Short Sale, Under Contract)
3. Miller & Smith Merlin. $429,900. (Sold)*

Single Family
1. Stanley Martin Braxton. $629,990. (New Construction)

*This home was listed and sold before it went on the market. $429,900 for a Miller & Smith Merlin would of been an overpriced Merlin unless it had more options than a model home. It did sell for $400,000 which is more reasonable. So I'm guessing it was entered as for comp purposes or there was already buyer lined up.

Under Contract

According to MLS, 7 homes went under contract during 9/7/09 to 9/13/09.

Condo
1. Summerfield Verona. $199,000. DOMM/DOMP: 41/41. (Foreclosure)
2. Centex Archer. $294,450. DOMM/DOMP: 22/0. (New Construction)

Townhouse
1. Centex Middleon. $329,900. DOMM/DOMP: 9/9.
2. Beazer Chancery. $350,000. DOMM/DOMP: 4/4. (Short Sale)
3. Miller & Smith Merlin. $429,900. DOMM/DOMP: 0/0. (Sold)

Single Family
1. Miller & Smith Rhapsody. $549,900. DOMM/DOMP: 23/23.
2. Winchester Chelsea. $575,000. DOMM/DOMP: 4/4. (Short Sale)

Sold

According to MLS, 3 homes settled this past week.

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Condo
1. Summerfield Sienna. 42481 ROCKROSE SQ #302. $175,000 - $0 = $175,000. DOMM/DOMP: 175/175. (Short Sale)

Townhouse
1. Centex Stratton. 42433 ROCKSLIDE TER. $310,000 - $0 = $310,000. DOMM/DOMP: 9/47. (Foreclosure)
2. Miller & Smith Merlin. 42517 REGAL WOOD DR. $400,000 - $0 = $400,000. DOMM/DOMP: 0/0.

Conclusion

Wow! We have an absorption rate of 1.2 which is the lowest level in Brambleton since the start of this blog. I feel like we're doing the limbo. How low can you go? We do expect more inventory in the coming weeks as banks are starting to release more foreclosures.

If you have any questions concerning buying or selling in Brambleton or in Northern Virginia, feel free to email me or call me. If you are considering a short sale, you can visit my short sale blog VirginiaShortSaleExpert.com.

Disclaimer: Information is deemed reliable but not guaranteed. MLS data was used which means For Sale By Owner information may have not been included. All homes entered as comps (e.g. new construction) were removed as well. MLS data is subject to human errors such as agents entering wrong values. This is not an appraisal but purely for informative purposes only. If you spot an error, please email me.

Brambleton Weekly Real Estate Update 8/31/09 to 9/6/09

2009-09-09T02:15:00.000-04:00

Quick Summary

New Listings: 3 (-1)

Under Contract: 5 (+3)

Sold: 2 (-5)

(Change from previous week.)

Introduction

As of today 9/9/2009, there are 28 active listings (-3) in MLS and 21 homes (0) under contract in last 30 days. This gives us an absorption rate of 1.3 which is record low since I kept track.

Here's the breakdown of the active listings:

18 New Constructions (-2) , 5 Traditional Resales (-1), 1 Foreclosure (-1) and 4 Short Sales (+1).

If I remove new constructions, absorption rate would be .59. If means we don't even have 1 mo supply of homes in Brambleton.

Click here to view all active listings via FranklyMLS.com. There's some non-Brambleton listings so just look at the subdivision.

Click here to view all homes under contract via FranklyMLS.com. There's some non-Brambleton listings so just look at the subdivision.

New

3 new listings came out during the period of 8/31/09 to 9/6/09.

Condo

1. Centex Logan. $269,990. (New Construction)

2. Centex O'Hare. $324,990. (New Construction)

Townhouse

1. Beazer Chancery. $350,000. (Short Sale)*

Single Family

1. Winchester Homes Chelsea. $575,000. (Short Sale, Under Contract)**

*This home was listed on 9/7 so it technically belong in next week's update.

**I was told that there were over dozen offers for this property.

Under Contract

According to MLS, 5 homes went under contract during 8/31/09 to 9/06/09.

Condo

1. Centex Logan. $269,900. DOMM/DOMM: 15/15.

2. Centex O'Hare. $329,900. DOMM/DOMP: 146/146.

Townhouse

1. Centex Middleton. $329,900. DOMM/DOMP: 9/9.

2. Beazer Chancery. $350,000. DOMM/DOMP: 8/8. (Short Sale)

Single Family

1. Centex Fulton. $525,000. DOMM/DOMP: 6/6. (Short Sale)

2. Winchester Homes Chelsea. $575,000. DOMM/DOMP: 4/4. (Short Sale)*

*This home under contract on 9/7 so it should belong in next week's update.

Sold

According to MLS, 2 homes settled this past week. There were 2 other homes scheduled to close but not yet recorded as sold.

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Condo

1. Summerfield Sienna. 2481 ROCKROSE SQ #302. $175,000 - $0 = $175,000. DOMM/DOMP: 175/175. (Short Sale)

Single Family

1. Beazer Farnham. 42771 CONQUEST CIR. $568,000 - $0 = $568,000. DOMM/DOMP: 20/20.

Conclusion

Wow! We have an absorption rate of 1.3 which is the lowest level in Brambleton since the start of this blog. Inventory will remain low for foreseeable future. There's talks that the banks will release more foreclosures in the coming weeks. Hopefully this will help. Investors are snatching up lower priced homes with cash these days.

If you're looking to buy a single family in Brambleton, there should be 2 new listings coming back on the market. One is actually a relist and another would be a Centex Porter model with 3 full baths on the bedroom level.

I have this 2 BR condo in Fairfax, VA that I listed over the weekend. Before I could blog about it, it went under contract. It's a home that's being featured in HGTV Get It Sold show. Here's the website for this condo. If you're interested in investment properties, now is the time. I have been listing a good number of short sales. You have to be patient with short sales but it can be a big payoff. Here's a list of short sales that I have listed recently. Let me know if you're interested in any of these homes.

Disclaimer: Information is deemed reliable but not guaranteed. MLS data was used which means For Sale By Owner information may have not been included. All homes entered as comps (e.g. new construction) were removed as well. MLS data is subject to human errors such as agents entering wrong values. This is not an appraisal but purely for informative purposes only. If you spot an error, please email me.

Brambleton VA Weekly Update 8/24/09 to 8/30/09

2009-09-02T09:11:00.006-04:00

Quick Summary

New Listings: 4 (0)

Under Contract: 2 (-3)

Sold: 7 (+4)

(Change from previous week.)

Introduction

As of today 9/1/2009, there are 31 active listings (+3) in MLS and 21 homes (+1) under contract in last 30 days. This gives us an absorption rate of 1.5 which is worse than last week's rate of 1.4 but still very, very low.

Here's the breakdown of the active listings:

20 New Constructions (+2) , 6 Traditional Resales (0), 2 Foreclosure (-1) and 3 Short Sales (+2).

Click here to view all active listings via FranklyMLS.com. There's some non-Brambleton istings so just look at the subdivision.

Click here to view all homes under contract via FranklyMLS.com. There's some non-Brambleton listings so just look at the subdivision.

New

4 new listings came out during the period of 8/24/09 to 8/30/09.

Townhouse

1. Centex Middleton. $329,900.

2. Beazer Chancery. $350,000. (Short Sale)

Single Family

1. Miller & Smith Fannie Ward. $455,006. (New Construction)

2. Centex Fulton. $525,000. (Short Sale)

Under Contract

According to MLS, 2 homes went under contract during 8/24/09 to 8/30/09.

Condo

1. Summerfield Florence. $168,500. DOMM/DOMP: 8/70. (Foreclosure)

2. Summerfield Verona. $210,000. DOMM/DOMP: 2/2. (Short Sale)

Sold

According to MLS, 7 homes settled this past week. There was one other that was scheduled to close but it does not show as being closed as of today (9/2).

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Condo

1. Centex Logan. 42592 VERDE GATE TER #22C. $267,290 - $16,037 = $251,253. DOMM/DOMP: 115/115. (New Construction)

2. Beazer Vail. 22751 VERDE GATE TER. $314,469 - $9,434 = $305,035. DOMM/DOMP: 115/115. (New Construction)

Townhouse

1. Centex Walden. $305,000 - $9,000 = $296,000. DOMM/DOMP: 6/6.

2. Centex O'Hare. $321,740 - $19,305 = $302,435. DOMM/DOMP: 166/166. (New Construction)

Single Family

1. Miller & Smith Rhapsody. $512,905 - $10,000 = $502,905. DOMM/DOMP: 50/50. (New Construction)

2. Beazer Avery. $550,000 - $0 = $550,000. DOMM/DOMP: 18/18. (Short Sale)

3. Miller & Smith Clara Bow. $649,920 - $15,000 = $634,920. DOMM/DOMP: 321/321. (New Construction)

Conclusion

Nothing new.

Brambleton Real Estate Update for 8/17/09 to 8/23/09

2009-08-24T08:54:00.007-04:00

Quick Summary

New Listings: 4 (+2)

Under Contract: 5 (+2)

Sold: 3 (+1)

(Change from previous week.)

Introduction

As of today 8/24/2009, there are 28 active listings (-5) in MLS and 20 homes (+2) under contract in last 30 days. This gives us an absorption rate of 1.4 which is better than last week's rate of 1.8. This is the lowest rate that I remember for Brambleton. You want to sell, do it in this market. Compared to early Spring, you'll get at least 5% more.

Here's the breakdown of the active listings:

18 New Constructions (-3) , 6 Traditional Resales (-3), 3 Foreclosure (+1) and 1 Short Sales (-4).

Click here to view all active listings via FranklyMLS.com. There's some non-Brambleton istings so just look at the subdivision.

Click here to view all homes under contract via FranklyMLS.com. There's some non-Brambleton listings so just look at the subdivision.

New

4 new listings came out during the period of 8/17/09 to 8/23/09.

Condo

1. Summerfield Florence. $168,500. (Foreclosure)

2. Summerfield Verona. $210,000. (Foreclosure)

3. Centex Logan. $269,900.

Single Family

1. Miller & Smith Rhapsody. $549,900.

Under Contract

According to MLS, 5 homes went under contract during 8/17/09 to 8/23/09.

Condo

1. Summerfield Florence. $150,000. DOMM/DOMP: 6/6. (Short Sale)

2. Summerfield Torino. $259,900. DOMM/DOMP: 30/30.

Townhouse

1. Miller & SMith Merlin. $433,260. DOMM/DOMP: 42/42. (New Construction)

2. Beazer Chancery. $440,000. DOMM/DOMP: 7/7.

Single Family

1. Miller & Smith Rhapsody in Blue. $532,835. DOMM/DOMP: 50/50. (New Construction)

Sold

According to MLS, 3 homes settled this past week. There was one other that was scheduled to close but it does not show as being closed as of today (8/24).

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Townhouse

1. Centex Stratton. 42475 MALACHITE TER. $314,900. DOMM/DOMP: 8/8. (Short Sale)

2. Beazer Chancery. 42493 CORTEZ TER. $404,000 - $7,500 = $396,500. DOMM/DOMP: 11/11.

Single Family

1. Christopher Companies. 22756 HIGHCREST CIR. $560,000 - $0 = $560,000. DOMM/DOMP: 9/9.*

22756 HIGHCREST CIR had 4 offers if I remember correctly. Multiple offers are the norm these days.

Conclusion

We hit the lowest absorption rate as long as I can remember for Brambleton. I've been keeping track of Brambleton inventory since 2003 and this is truly remarkable. This presents a great opportunity for the sellers.

Brambleton Weekly Market Update for 8/10/09 to 8/16/09

2009-08-21T08:24:00.008-04:00

Quick Summary

New Listings: 2 (0)

Under Contract: 3 (-3)

Sold: 2 (-3)

(Change from previous week.)

Introduction

Before I proceed with this week's update, I want share a new listing. It's Centex Logan condo. It's listed for $269,900. It's a normal resale so immediate occupancy is possible. Compared to what's on the market, this is a good price with many upgrades.

As of today 8/19/2009, there are 33 active listings (-2) in MLS and 18 homes (+3) under contract in last 30 days. This gives us an absorption rate of 1.8 which is better than last week's rate of 2.3. Here's the breakdown of the active listings:

21 New Constructions (-2) , 9 Traditional Resales (+3), 2 Foreclosure (+1) and 1 Short Sales (-4).

We are down to only 1 short sale!

Click here to view all active listings via FranklyMLS.com. There's some non-Brambleton istings so just look at the subdivision.

Click here to view all homes under contract via FranklyMLS.com. There's some non-Brambleton listings so just look at the subdivision.

New

2 new listings came out during the period of 8/10/09 to 8/16/09.

Condo

1. Summerfield Florence. $150,000. (Short Sale, Under Contract)

Townhouse

1. Beazer Chancery. $440,000. (Under Contract)

Under Contract

According to MLS, 3 homes went under contract during 8/10/09 to 8/16/09.

Condo

1. Summerfield Milano. $189,900. DOMM/DOMP: 13/13. (Short Sale)

Townhouse

2. Centex Stratton. $303,000. DOMM/DOMP: 9/47. (Short Sale)

Single Family

1. Centex Fulton. $479,000. DOMM/DOMP: 8/8. (Short Sale)

Sold

According to MLS, 2 homes settled this past week.

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Townhouse

1. Centex Stratton. 22932 ROSE QUARTZ SQ. $322,000 - $0 = $322,000. DOMM/DOMP: 37/37.

2. Beazer Chancery. 22954 FANSHAW SQ. $390,000 - $0 = $390,000. DOMM/DOMP: 3/3. (Short Sale)

Conclusion

Inventory is so low that buyers are snatching up even short sales. Currently, there is only 1 short sale on the market. Buyers are paying premium for good non-distressed property. if you need to sell, this is good time.

Brambleton Weekly Update for 8/3/09 to 8/9/09

2009-08-13T08:07:00.010-04:00

Quick Summary

New Listings: 2 (-2)

Under Contract: 6 (+3)

Sold: 5 (0)

(Change from previous week.)

Introduction

Before I proceed with this week's update, I want to let you know that I'll be listing a Beazer Chancery townhome on Friday. If you are in the market for a townhome, let me know.

As of today 8/12/2009, there are 35 active listings (-10) in MLS and 15 homes (-7) under contract in last 30 days. This gives us an absorption rate of 2.3 which is worse than last week's rate of 2.0. Here's the breakdown of the active listings:

23 New Constructions (-5) , 6 Traditional Resales (-2), 1 Foreclosure (-1) and 5 Short Sales (-2).

This is the lowest number of active listings in MLS since I started to keep track in 2008. Inventory is getting tighter and tighter which only means the prices will go up and it has.

Click here to view all active listings via FranklyMLS.com. There's some non-Brambleton istings so just look at the subdivision.

Click here to view all homes under contract via FranklyMLS.com. There's some non-Brambleton listings so just look at the subdivision.

New

2 new listings came out during the period of 8/3/09 to 8/10/09.

Single Family

1. Centex Fulton. $479,000.(Short Sale)

2. Stanley Martin Eliot. $579,990. (New Construction)

Under Contract

According to MLS, 5 homes went under contract this past week.

Condo

1. Summerfield Florence. $130,000. DOMM/DOMP: 97/97. (Short Sale)

2. Summerfield Milano. $159,000. DOMM/DOMP: 30/30. (Short Sale)

3. Summerfield Napoli. $175,000. DOMM/DOMP: 53/53. (Short Sale)

Single Family

1. Centex Fulton. $479,000. DOMM/DOMP: 8/8/. (Short Sale)

2. Centex Porter. $499,999. DOMM/DOMP: 9/9. (Short Sale)

3. Miller & Smith Spirit of St. Louis. $575,000/. DOMM/DOMP: 107/107.

5 of the 6 homes that went under contract are short sales.

Sold

According to MLS, 5 homes should have settled this past week.

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Condo

1. Summerfield Portofino. 22611 BLUE ELDER TER #201. $130,000 - $4,050 = $125,950. DOMM/DOMP: 11/11. (Foreclosure)

2. Centex Aspen. 22801 SETTLERS TRAIL TER. $265,000 - $0 = $265,000.

Townhouse

1. Beazer Chancery. 22954 FANSHAW SQ. $390,000 - $0 = $390,000. DOMM/DOMP: 3/3. (Short Sale)*

Single Family

1. Centex Porter. 42572 SWALLOWTAIL WAY. $500,000 - $0 = $500,000. DOMM/DOMP: 3/3.

2. Winchester Lansdale. 42440 SPRING SPLENDOR DR. $579,999 - $8,000 = $571,999. (New Construction)

3. Winchester Spencer. 2499 MERIDIAN HILL DR. $700,000 - $8,000 = $692,000. (New Construction)

*22954 FANSHAW SQ settled on 8/11/09 so this should in next week's update.

Conclusion

Again nothing new. If you have any questions concerning buying or selling in Brambleton or in Northern Virginia, feel free to email me or call me. If you are considering a short sale, you can visit my short sale blog VirginiaShortSaleExpert.com.

Brambleton Weekly Real Estate Update for 7/27/09 to 8/2/09

2009-08-04T12:53:00.001-04:00

Quick Summary

New Listings: 4 (-2)

Under Contract: 3 (+1)

Sold: 5 (+4)

(Change from previous week.)

Introduction

As of today 8/4/2009, there are 45 active listings (-4) in MLS and 22 homes (+4) under contract in last 30 days. This gives us an absorption rate of 2.0 which is better than last week's rate of 2.7. Here's the breakdown of the active listings:

28 New Constructions (-1) , 8 Traditional Resales (-4), 2 Foreclosure (+1) and 7 Short Sales (+1).

Click here to view all active listings via FranklyMLS.com. There's some non-Brambleton istings so just look at the subdivision.

Click here to view all homes under contract via FranklyMLS.com. There's some non-Brambleton listings so just look at the subdivision.

New

4 new listings came out during the period of 7/27/09 to 8/2/09.

Condo

1. Summerfield Napoli. $189,900. (Short Sale)

2. Summerfield Verona. $199,000. (Foreclosure)

Townhouse

1. Centex Stratton. $303,000. (Foreclosure)

Single Family

1. Centex Porter. $499,999. (Short Sale)

2. Centex Fulton. $479,000. (Short Sale)*

This listing came on the market after 8/2/09 so it should technically be mentioned in next week's post.

Every single listing this week is distressed.

Under Contract

According to MLS, 3 homes went under contract this past week.

Townhouse

1. Centex Walden. DOMM/DOMP: 6/6. $319,000.

Single Family

1. Christopher Companies Kensington. DOMM/DOMP: 9/9. $550,000.

2. Beazer Farnham. DOMM/DOMP: 20/20. $575,000.

3. Miller & Smith SPIRIT OF ST. LOUIS. DOMM/DOMP: 107/107. $575,000.*

*This home went under contract after 8/2/09 so it should be on next week's update.

Every single listing that went under contract this week is non-distressed.

Sold

According to MLS, 5 homes should have settled this past week.

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Condo

1. Summerfield Milano. 42481 ROCKROSE SQ #101. $160,000 - $0 = $160,000. DOMM/DOMP: 5/5.

2. Summerfield Napoli. 42435 HOLLYHOCK TER #302. $205,000 - $0 = $205,000. DOMM/DOMP: 99/99.

Townhouse

1. Centex Middleton. 42535 MAGELLAN SQ. $315,000 - $0 = $315,000. DOMM/DOMP: 5/5.

2. Beazer Chancery. 42468 LEGACY PARK DR. $405,000 - $0 = $405,000. DOMM/DOMP: 7/7.

Single Family

1. Beazer Chelsea II. 42826 CONQUEST CIR. $435,000 - $0 = $435,000. DOMM/DOMP: 29/29. (Short Sale)

Both condos sold for full list price. Market is definately turning.

42468 LEGACY PARK DR (Beazer Chancery) has 2 contracts in the first weekend. It's the highest sold price for interior Chancery unit. This home was listed last year around this time and the best we could get then was like 385k.

Conclusion

Nothing new. Here's an interesting article about how about half of all mortgages will be under water by 2011. This could only mean more short sales. I'll have some more detailed stats to share shortly.

Brambleton Weekly Real Estate Update for 7/20/09 to 7/26/09

2009-07-29T13:17:00.006-04:00

Quick Summary

New Listings: 6 (+2)

Under Contract: 2 (-1)

Sold: 1 (0)

(Change from previous week.)

Introduction

If you have any questions concerning buying or selling in Brambleton or in Northern Virginia, feel free to call me at 703-401-0571 or email me. If you are considering a short sale, you can visit my short sale blog VirginiaShortSaleExpert.com.

As of today 7/28/2009, there are 49 active listings (+7) in MLS and 18 homes (-1) under contract in last 30 days. This gives us an absorption rate of 2.7 which worse than last week's rate of 2.2. Here's the breakdown of the active listings:

29 New Constructions (+3) , 12 Traditional Resales (+1), 1 Foreclosure (+1) and 6 Short Sales (0).

Click here to view all active listings via FranklyMLS.com. There's some non-Brambleton istings so just look at the subdivision.

Click here to view all homes under contract via FranklyMLS.com. There's some non-Brambleton listings so just look at the subdivision.

New

6 new listings came out during the period of 7/20/09 to 7/26/09.

Condo

Summerfield Verona. $259,900.

Townhouse

Centex Walden. $319,000

Single Family

Miller & Smith Fannie Ward. $426,990 (New Construction)

Miller & Smith Rhapsody. $466,990. (New Construction)

Miller & Smith Clara Bow. $525,990. (New Construction)

Christopher Companies Kensington. $550,000.

Under Contract

According to MLS, 2 homes went under contract this past week.

Single Family

1. Centex Fulton. $515,000. DOMM/DOMP: 3/98. (Short Sale)

2. Beazer Ashley. $569,000. DOMM/DOMP: 23/23.

Sold

According to MLS, 1 home should have settled this past week.

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Townhouse

1. Centex Walden. 22946 ROSE QUARTZ SQ. $314,000 - $0 = $314,000. DOMM/DOMP: 18/18. (Foreclosure)

Conclusion

The usual. Inventory is low. Good homes get multiple contracts. Short sales are leading the way. Starting next week, I'll have more detailed statistics for entire Ashburn.

Brambleton Real Estate 2009 Q2 Summary

2009-07-22T01:45:00.004-04:00

[Update 7/28/09 - 2009 Q2 Sales PDF File Link Corrected.]

QUICK SUMMARY

Number of Resale Homes Sold in 2008 Q2: 31
Number of Resale Homes Sold in 2009 Q2: 33
Change: 6.5% increase

Average List Price in 2008 Q2: $445,894
Average List Price in 2009 Q2: $420,126
Change: 5.8% decrease

Average Net Price (Sold Price - Subsidy) in 2008 Q2: $431,306
Average Net Price (Sold Price - Subsidy) in 2009 Q2: $411,460
Change: 4.6% decrease

Average DOMP in 2008 Q2: 59
Average DOMP in 2009 Q2: 49
Change: 17.3% decrease

Number of Short Sales 2008 Q2: 5
Number of Short Sales 2009 Q2: 10
Change: 100% increase

Number of Foreclosures 2008 Q2: 15
Number of Foreclosures 2009 Q2: 14
Change: 6.7% decrease

Percentage of Distressed Resales in 2008 Q2: 64.5%
Percentage of Distressed Resales in 2009 Q2: 72.7%

Change: 12.7% increase

Click here to view all resales in 2008 Q2 and 2009 Q2 in spread sheet format.
Click here to download all sales in 2008 Q2 in PDF file with photos.
Click here to download all sales in 2009 Q2 in PDF file with photos.

SAME MODEL COMPARISON BETWEEN 2008 Q2 & 2009 Q2

In this section, I like to compare the same models that sold during Q2. Comparing apples to apples is much easier than comparing apples to oranges. Please keep in mind that single families are harder to compare due to many variations such as elevation, finished basement, bump outs, extensions, decks, etc.. Prices reflect net price.

Short Sale

Foreclosure

Condos

Summerfield Como 2008 : $169,200
Summerfield Como 2009: $129,000

Change: 23.8% decrease

Summerfield Verona 2008: $232,086
Summerfield Verona 2008: $243,000
Summerfield Verona 2009: $194,000
Summerfield Verona 2009: $200,000
Summerfield Verona 2009: $197,300

Change: 17.0% decrease

Townhouses

Beazer Chancery 2008: $369,900
Beazer Chancery 2008: $362,400
Beazer Chancery 2008: $375,000
Beazer Chancery 2008: $375,000
Beazer Chancery 2008: $365,000
Beazer Chancery 2008: $390,000
Beazer Chancery 2008: $415,000
Beazer Chancery 2008: $424,000
Beazer Chancery 2008: $430,000
Beazer Chancery 2008: $490,000

Beazer Chancery 2009: $360,000
Beazer Chancery 2009: $354,050
Beazer Chancery 2009: $389,000
Beazer Chancery 2009: $412,500

Change: 5.2% decrease

Single Families

Stanley Martin Ballou 2008: $505,000
Stanley Martin Ballou 2008: $599,000
Stanley Martin Ballou 2009: $470,000

Change: 14.9% decrease

Miller & Smith Rhapsody 2008: $570,00
Miller & Smith Rhapsody 2009: $524,900

Change: 7.9% decrease

Miller & Smith Clara Bow 2008: $505,000
Miller & Smith Clara Bow 2008: $530,000
Miller & Smith Clara Bow 2008: $540,000
Miller & Smith Clara Bow 2008: $679,900
Miller & Smith Clara Bow 2009: $535,000
Miller & Smith Clara Bow 2009: $569,237

Change: 2.1% decrease

SUMMARY

2009 Q2 was busier than 2008 Q2. Homes are selling faster but prices have dropped. Distressed properties, short sale and foreclosures, accounted for 73% of all resales. Expect similar pattern for the next few quarters. It would of been much busier if there were more reasonably priced normal resales. The inventory is at all time low. As I write this summary, we only have 2 month worth of inventory. If you're looking to sell, now is the time! Feel free to email me or call me (703-401-0571) with any questions.

I launched a new blog, VirginiaShortSaleExpert.com, to address common short sale issues. Whether you or someone you know are considering purchasing a short sale or thinking about short sale, check the blog and contact me with any questions. I get calls just about everyday from all over US.

Disclaimer: Information is deemed reliable but not guaranteed. MLS data was used which means For Sale By Owner information may have not been included. All homes entered as comps (e.g. new construction) were removed as well. MLS data is subject to human errors such as agents entering wrong values. This is not an appraisal but purely for informative purposes only. If you spot an error, please email me.

Brambleton Weekly Real Estate Update for 7/13/09 to 7/19/09

2009-07-21T21:51:00.009-04:00

Quick Summary

New Listings: 4 (-2)

Under Contract: 3 (-4)

Sold: 1 (0)

(Change from previous week.)

Introduction

As of today 7/21/2009, there are 42 active listings (-3) in MLS and 19 homes (-4) under contract in last 30 days. This gives us an absorption rate of 2.2 which worse than last week's rate of 1.95. Here's the breakdown of the active listings:

26 New Constructions (-2) , 11 Traditional Resales (+1), 0 Foreclosure (-2) and 5 Short Sales (0).

Click here to view all active listings via FranklyMLS.com. There's some non-Brambleton listings so just look at the subdivision.

Click here to view all homes under contract via FranklyMLS.com. There's some non-Brambleton listings so just look at the subdivision.

New

4 new listings came out during the period of 7/13/09 to 7/19/09.

Condo

1. Summerfield Milano. $169,000. (Short Sale)

2. Beazer Aspen. $281,950. (New Construction)

3. Beazer Aspen. $283,790. (New Construction)

Townhouse

1. Miller & Smith Merlin. $412,030. (New Construction)

Under Contract

According to MLS, 3 homes went under contract this past week.

Condo

Summerfield Portofino. $134,900. DOMM/DOMP: 11/11. (Foreclosure)

Summerfield Napoli. $179,900. DOMM/DOMP: 9/9. (Foreclosure)

Centex Logan. $269,990. DOMM/DOMP: 35/0. (New Construction)

Sold

According to MLS, 1 home should have settled this past week.

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Condo

1. Centex Logan. 42625 HIGHGATE TER. List Price: $279,900. Scheduled Closing Date: 7/15/09. DOMM/DOMP: 5/5.

Conclusion

Nothing new. Homes with the exception of condos are selling at least 5% more than it did in the Spring. It's a simple supply and demand principle in action.

Weekly Brambleton Real Estate Update for 7/6/09 to 7/12/09

2009-07-14T15:45:00.000-04:00

Quick Summary

New Listings: 6 (+2)

Under Contract: 7 (+2)

Sold: 1 (0)

(Change from previous week.)

Introduction

Due to MLS regulations, I had change the format of my weekly update. I won't be displaying the address of any active listings or any homes under contract. I'll try to tweek it as try this new format.

As of today 7/14/2009, there are 45 active listings (0) in MLS and 23 homes (+1) under contract in last 30 days. This gives us an absorption rate of 1.95 which better than last week's rate of 2.0. This is the lowest absorption rate since I've been tracking it since 2008. Here's the breakdown of the active listings:

28 New Constructions (+4) , 10 Traditional Resales (-4), 2 Foreclosure (+2) and 5 Short Sales (-2).

To see these active listings, click on the links below. I'll be using FranklyMLS.com to display all active listings and homes under contract. Idealy I would like to have one link but since there are several subdivisions (Summerfield, Residences at Brambleton, Brambleton) that make up Brambleton, I have to use 3 links to get all the listings. I'll try to see if I can come up with one link.

Active Listings

Summerfield Condos.

Residences at Brambleton

Brambleton

Under Contract

Summerfield Condos

Residences at Brambleton

Brambleton

New

6 new listings came out during the period of 7/6/09 to 7/12/09.

Condo

1. Summerfield Milano. $134,900. (Foreclosure, Under Contract)

2. Summerfield Napoli. $179,900. (Foreclosure)

Townhouse

1. Centex Walden. $359,900.

2. Miller & Smith Merlin. $433,260. (New Construction)

Single Family

1. Centex Peyton. $550,000. (Short Sale, Under Contract)

2. Centex Harrison. $748,500.

Under Contract

According to MLS, 7 homes went under contract this past week.

Condo

1. Summerfield Verona. $199,900. DOMM/DOMP: 43/43. (Short Sale)

2. Centex Archer. $302,450. DOMM/DOMP: 22/0. (New Construction)

Townhouse

1. Centex Stratton. $349,000. DOMM/DOMP: 37/37.

2. Beazer Chancery. $415,000. DOMM/DOMP: 11/11.

Single Family

1. Centex Peyton. $550,000. DOMM/DOMP: 2/2. (Short Sale)

2. Beazer Farnham. $575,000. DOMM/DOMP: 9/9.

3. Centex Carlton. $629,900. DOMM/DOMP: 83/83. (Short Sale)

Sold

According to MLS, 1 home settled this past week.

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Single Family

1. Gulick Townsend. 23043 PARKVIEW DR. $665,000 - $26,600 = $638,400. DOMM/DOMP: 25/25. (Foreclosure)

Conclusion

Nothing new. The absorption rate since I've been tracking. Also, be on the look out for Q2 summary soon.

Weekly Brambleton Real Estate Update for 6/29/09 to 7/5/09

2009-07-07T11:31:00.007-04:00

Quick Summary

New Listings: 4 (-4)

Under Contract: 5 (+3)

Sold: 1 (-4)

(Change from previous week.)

Introduction

As of today 7/6/2009, there are 45 active listings (-3) in MLS and 22 homes (-1) under contract in last 30 days. This gives us an absorption rate of 2.0 which better than last week's rate of 2.1. This is the lowest absorption rate since I've been tracking it since 2008. Here's the breakdown of the active listings:

24 New Constructions (-1) , 14 Traditional Resales (+1), 0 Foreclosure (0) and 7 Short Sales (-4).

New

4 new listings came out during the period of 6/29/09 to 7/5/09.

Single Family

1. Miller & Smith Rhapsody. 23396 GARDENWALK DR. $520,795. (New Construction)

2. Miller & Smith Rhapsody. 23386 HIGBEE LN. $532,835. (New Contruction)

3. Beazer Farnham. 42771 CONQUEST CIR. $550,000.

4. Beazer Ashley. 23085 RED ADMIRAL PL. $569,000.

Under Contract

According to MLS, 5 homes went under contract this past week.

Condo

1. Summerfield Como. 22769 FOUNTAIN GROVE SQ. $149,900. DOMM/DOMP: 2/2. (Short Sale)

2. Summerfield Milano. 42481 ROCKROSE SQ #101. $169,000. DOMM/DOMP: 5/5.

3. Centex Aspen. 22801 SETTLERS TRAIL TER. $299,900. DOMM/DOMP: 44/44.

Single Family

1. Beazer Bentley. 42879 CONQUEST CIR. DOMM/DOMP: 5/5. (Short Sale)

2. Centex Carlson. 22818 ARBOR VIEW DR. $629,900. DOMM/DOMP: 83/83. (Short Sale)

Sold

According to MLS, 1 home settled this past week.

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Townhouse

1. Miller & Smith Merlin. 23456 TWIN FALLS TER. $396,720 - $10,000 = $386,720. DOMM/DOMP: 38/38. (New Construction)

Scheduled to Have Settled Between 6/29 to 7/5 But Not Yet Settled

1. Beazer Chancery. 42505 Cortez Ter. List Price: $349,888. DOMM/DOMP: 6/6. (Short Sale)

2. Miller & Smith Merlin. 23431 TWIN FALLS TER. List Price: $373,710. (New Construction)

3. Stanley Martin Elden III. 42635 EXPLORER DR. List Price: $430,000. (Short Sale)

Conclusion

Nothing new. The absorption rate since I've been tracking. Also, be on the look out for Q2 summary soon.

Weekly Brambleton Real Estate Update for 6/22/09 to 6/28/09

2009-06-30T22:00:00.003-04:00

Quick Summary

New Listings: 8 (+1)

Under Contract: 2 (-4)

Sold: 5 (+3)

(Change from prior week.)

Introduction

If you have any questions concerning buying or selling in Brambleton or rest of Northern Virginia, feel free to call me at 703-401-0571 or email me.

As of today 6/30/2009, there are 48 active listings (+2) in MLS and 23 homes (+3) under contract in last 30 days. This gives us an absorption rate of 2.1 which better than last week's rate of 2.3. Here's the breakdown of the active listings:

25 New Constructions (+4) , 13 Traditional Resales (+1), 0 Foreclosure (-1) and 11 Short Sales (0).

New

8 new listings came out during the period of 6/22/09 to 6/29/09.

Condo

1. Summerfield Como. 22769 FOUNTAIN GROVE SQ. $149,900 (Short Sale, Under Contract)

2. Summerfield Milano. 42481 ROCKROSE SQ #101. $169,000. (Short Sale)

3. Summerfield Verona. 22761 FOUNTAIN GROVE SQ. $209,000.

Townhouse

1. Beazer Chancery. 42493 CORTEZ TER. $415,000.

Single Family

1. Stanley Martin Frost. RINGNECK PL. $444,990. (New Construction)

2. Miller & Smith Rhapsody. 23396 GARDENWALK DR. $520,795. (New Construction)*

3. Miller & Smith Rhapsody. 23386 HIGBEE LN. $532,835*

4. Beazer Farnham. 42771 CONQUEST CIR. $550,000.*

5. Beazer Ashley. 23085 RED ADMIRAL PL. $569,000.*

6. Beazer Bentley. 42879 CONQUEST CIR. $609,900

7. Beazer Avery/Bently(?). 23086 MERIWEATHER CT. $619,900.

8. Gulick Winthrop. 23092 OGLETHORPE CT. $890,000.

*These homes came on the market after 6/29/09 so they should be mentioned in next week's update.

Under Contract

According to MLS, 2 homes went under contract this past week.

Condo

1. Summerfield Como. 22769 FOUNTAIN GROVE SQ. $149,900. DOMM/DOMP: 2/2. (Short Sale)*

2. Summerfield Milano. 42481 ROCKROSE SQ #101. $169,000. DOMM/DOMP: 5/5. (Short Sale)*

3. Summerfield Sienna. 42481 ROCKROSE SQ #302. $185,000. DOMM/DOMP: 175/175. (Short Sale)

Townhouse

1. Centex Walden. 22946 ROSE QUARTZ SQ. $330,148. DOMM/DOMPP: 18/18. (Foreclosure)*

2. Beazer Chancery. 42468 LEGACY PARK DR. $415,000. DOMM/DOMP: 7/7.

*These homes went under contract after 6/29 so they belong in next week's update.

Sold

According to MLS, 5 homes settled this past week.

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Townhouse

1. Centex Stratton. 42417 BOWDITCH SQ. $303,500 - $9,105 = $294,395. DOMM/DOMP: 19/19. (Foreclosure)

2. Miller & Smith Merlin. 23456 TWIN FALLS TER. $396,720 - $10,000 = $386,720. DOMM/DOMP: 38/38. (New Construction)

Single Family

1. Stanley Martin Ballou III. 23084 PECOS LN. $481,000 - $3,500 = $487,500. DOMM/DOMP: 4/4. (Foreclosure)

2. Beazer Devlin. 42774 CONQUEST CIR. $471,000 - $10,000 = $461,000. DOMM/DOMP: 8/55. (Foreclosure)

3. Miller & Smith Clara Bow. 23252 HICKOX DR. $586,842 - $17,605 = $569,237. DOMM/DOMP: 80/80.

Conclusion

Nothing new. 2009 Q2 summary is coming soon. Be on the lookout.

Weekly Brambleton Real Estate Update for 6/15/09 to 6/21/09

2009-06-27T12:40:00.006-04:00

Quick Summary

New Listings: 7 (+5)

Under Contract: 6 (-1)

Sold: 2 (0)

(Change from prior week.)

Introduction

As of today 6/24/2009, there are 46 active listings (+1) in MLS and 20 homes (0) under contract in last 30 days. This gives us an absorption rate of 2.3 which slighlty worse than last week's rate of 2.2. Here's the breakdown of the active listings:

21 New Constructions (-3) , 12 Traditional Resales (0), 1 Foreclosures (+1) and 11 Short Sales (0).

New

7 new listings came out during the period of 6/15/09 to 6/21/09.

Condo

1. Summerfield Milano. 42481 ROCKROSE SQ #101. $169,000.*

2. Summerfield Verona. 22761 FOUNTAIN GROVE SQ. $209,000. (Short Sale)*

3. Summerfield Florence. 22664 BLUE ELDER TER #204. $230,000.

4. Centex Logan. 42571 HIGHGATE TER #27I. $269,990. (New Construction)

5. Centex Archer. 22727 BEACON CREST TER #24I. $302,450. (New Construction)

6. Beazer Vail. 42603 CARDINAL TRACE TER #10J. $318,900.*

7. Centex O'Hare. 42573 HIGHGATE TER #27J. $324,990. (New Construction)

Townhouse

1. Beazer Chancery. 42468 LEGACY PARK DR. $415,000. (Under Contract)

Single Family

1. Stanley Martin Frost. RINGNECK PL. $444,990. (New Construction)

2. Beazer Avery(?). 23086 MERIWEATHER CT. $619,000. (Short Sale)*

3. Centex Princeton. 42898 CONQUEST CIR. $650,000. (Short Sale, Under Contract)

*These listings came on the market on 6/22/09 so technically it belongs in next week's update.

Under Contract

According to MLS, 6 homes went under contract this past week.

Condo

1. Summerfield Napoli. 42435 HOLLYHOCK TER #302. $205,000. DOMM/DOMP: 99/99.

2. Beazer Aspen. 22746 VERDE GATE TER. $279,000. DOMM/DOMP: 216/216. (Short Sale)

Single Family

1. Centex Walden. 22946 ROSE QUARTZ SQ. $330,148. DOMM/DOMP: 18/18. (Foreclosure)

2. Stanley Martin Ballou III. 42571 GOOD HOPE LN. $435,000. DOMM/DOMP: 25/240. (Short Sale)

3. Centex Porter. 42572 SWALLOWTAIL WAY. $499,000. DOMM/DOMP: 3/3.

4. Centex Princeton. 42898 CONQUEST CIR. $650,000. DOMM/DOMP: 1/1.

Sold

According to MLS, 2 homes settled this past week.

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Townhouse

1. Centex Stratton. 42417 BOWDITCH SQ. $303,500 - $9,105 = $294,395. DOMM/DOMP: 19/19. (Foreclosure)

Single Family

2. Miller & Smith Clara Bow. 23252 HICKOX DR. $586,842 - $17,605 = $569,237. DOMM/DOMP: 80/80.

Conclusion

Nothing new. This is the best time to sell if you're thinking about selling.

Brambleton Weekly Real Estate Update for 6/8/09 to 6/14/09

2009-06-16T02:16:00.003-04:00

Quick Summary

New Listings: 2 (-3)

Under Contract: 7 (+5)

Sold: 2 (-1)

(Change from prior week.)

Introduction

May Loudoun County home stats are out.

Number of Sold Homes in May 2009: 438

Number of Sold Homes in May 2008: 511

Difference: -14.3%

Number of Listings in May 2009: 2,338

Number of Listings in May 2008: 3,486

Difference: -32.9%

Average Sales Price in May 2009: $366,294

Average Sales Price in May 2008: $398,041

Difference: -8.0%

Inventory is down significantly compare to last year. Although sales are down 14.3% from last year, the market is busy as ever. Pretty much all good listings are getting multiple contracts. It's really nothing new if you have been following my blog. Numbers just confirm what I have been saying. Now back to my weekly update.

As of today 6/16/2009, there are 45 active listings (-3) in MLS and 20 homes (-2) under contract in last 30 days. This gives us an absorption rate of 2.2 which is same as last week's rate of 2.2. Here's the breakdown of the active listings:

21 New Constructions (-3) , 12 Traditional Resales (0), 1 Foreclosures (+1) and 11 Short Sales (0).

New

According to MLS, there were 2 new listings.

Condo

1. Summerfield Napoli. 42435 HOLLYHOCK TER #202. $212,000. (Short Sale)

2. Centex O'Hare. 42573 HIGHGATE TER. $324,990. (New Construction)*

Single Family

1. Centex Porter. 42572 SWALLOWTAIL WAY. $499,000.

*This listing came on the market on 6/15/09 so technically it belongs in next week's update.

Under Contract

According to MLS, 7 homes went under contract this past week.

Condo

1. Summerfield Como. 42459 ROCKROSE SQ. DOMM/DOMP: 142/106. $159,900. (Short Sale)

2. Centex Logan. 42625 HIGHGATE TER. DOMM/DOMP: 5/5. $279,000.

Single Family

1. Centex Middleton. 42535 MAGELLAN SQ. DOMM/DOMP: 5/5. $315,000.

2. Centex Courtland. 42536 MAGELLAN SQ. DOMM/DOMP: 24/24. $334,900.

3. Stanley Martin Ballou III. 23085 PECOS LN. DOMM/DOMP: 61/61. $499,845. (Short Sale)

4. Miller & Smith Clara Bow. 42743 CHATELAIN CIR. DOMM/DOMP: 52/52. $589,225. (New Construction)

5. Miller & Smith Clara Bow. 23191 HALES TRACE DR. DOMM/DOMP: 321/321. $649,920. (New Construction)

Sold

According to MLS, 2 homes settled this past week.

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Townhouse

1. Beazer Chancery. 42438 REDSTONE TER. $412,500 - $0 = $412,500. DOMM/DOMP: 5/5.)

Single Family

1. Stanley Martin Elden III. 42635 EXPLORER DR. Not Yet Closed. List Price: $479,900. DOMM/DOMP: 4/4. (Foreclosure)

Conclusion

Nothing new. I do have a Beazer Chancery hitting the market in about a week. Contact me with any questions.

Weekly Brambleton Real Estate Update for 6/1/09 to 6/7/09

2009-06-10T14:31:00.002-04:00

Quick Summary

New Listings: 5 (+3)

Under Contract: 7 (+5)

Sold: 3 (-4)

(Change from prior week.)

Introduction

It was a very uneventful week in terms of Brambleton real estate so here we go with this week's update.

As of today 6/10/2009, there are 48 active listings (-1) in MLS and 22 homes (+1) under contract in last 30 days. This gives us an absorption rate of 2.2 which is better than last week's rate of 2.3. Here's the breakdown of the active listings:

24 New Constructions (-1) , 12 Traditional Resales (+1), 1 Foreclosures (+1) and 11 Short Sales (-1).

New

According to MLS, there were 5 new listings.

Condo

1. Centex Logan. 42645 HIGHGATE TER. $279,000. (Under Contract)

Townhouse

1. Centex Middleton. 42535 MAGELLAN SQ. $315,000.

2. Centex Stratton. 22946 ROSE QUARTZ SQ. $330,148. (Foreclosure)

Single Family

1. Winchester Lansdale. 42440 SPRING SPLENDOR DR. $599,900. (New Construction)

2. Centex Carlson. 22766 BROOKSHADE DR. $649,999.

From now on, I will not comment on active listings. I'll comment on homes under contract or sold. You can email me and I'll give you my opinion on any active listings.

Under Contract

According to MLS, 7 homes went under contract this past week.

Condo

1. Summerfield Como. 42459 ROCKROSE SQ. $159,900. DOMM/DOMP: 142/106. (Short Sale)

2. Centex Logan. 42625 HIGHGATE TER. $279,900. DOMM/DOMP: 5/5.

Townhouse

1. Centex Courtland. 42536 MAGELLAN SQ. $334,900. DOMM/DOMP: 24/24.

2. Beazer Chancery. 42479 GREENSIDE DR. $390,000. DOMM/DOMP: 48/0. (Short Sale)

3. Beazer Chancery. 22946 OLYMPIA DR. $500,000. DOMM/DOMP: 12/12. (Short Sale)

Single Family

1. Miller & Smith Fannie Ward. 23362 HIGBEE LN. $472,320. DOMM/DOMP: 203/203. (New Construction)

2. Gulick Vincent. 23044 MINERVA DR. DOMM/DOMP: 97/97. (Short Sale)

Sold

According to MLS, 3 homes settled this past week.

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Condo

1. Summerfield Como. 42435 GOLDENSEAL SQ. $129,000 - 0 = $129,000. DOMM/DOMP: 85/85. (Foreclosure)

Single Family

1. Stanley Martin Elden. 42635 EXPLORER DR. Not Yet Closed. List Price: $430,000. DOMM/DOMP: 13/13. (Short Sale)

2. Gulick Townsend. 23043 PARKVIEW DR. Not Yet Closed. List Price: $665,000.

DOMM/DOMP: 25/25. (Foreclosure)

Conclusion

Nothing new. I do have Beazer Chancery townhome coming on the market late this month. Contact me with any questions.

Weekly Brambleton Real Estate Update for 5/25/09 to 5/31/09

2009-06-03T00:26:00.003-04:00

Quick Summary

New Listings: 2 (-1)

Under Contract: 2 (-5)

Sold: 7 (+3)

(Change from prior week.)

Introduction

End of month updates are very informative since more closings take place at the end of the month than any other time. We had 7 homes that closed or should have closed. The sold price gives us a good insight into what the market is doing. Due to low inventory and the urgency to buy before school starts, buyers are paying premium for the right properties. Every offer that I've been submitting lately has been in a multiple contract scenario. This is true even for short sales. As you read the update, feel free to contact me anytime. Here we go with the update.

As of today 6/2/2009, there are 49 active listings (+1) in MLS and 21 homes (-2) under contract in last 30 days. This gives us an absorption rate of 2.3 which is worse than last week's rate of 2.1. Here's the breakdown of the active listings:

25 New Constructions (-1) , 11 Traditional Resales (+2), 0 Foreclosures (-1) and 13 Short Sales (0).

New

According to MLS, there were 2 new listings.

Condo

1. Summerfield Florence. 42539 MAYFLOWER TER #201. $200,000. (Short Sale)

Townhouse

1. Centex Walden. 22992 FOX FIRE TER. $359,900.

Single Family

1. Centex Carlson. 22766 BROOKSHADE DR. $649,999. *

*This listing should be mentioned in next week's update since it was listed after 5/31/09.

Under Contract

According to MLS, 2 homes went under contract this past week.

Single Family

1. Stanley Martin Frost. 23106 BRONSTEIN LN. $449,900. DOMM/DOMP: 125/0. (New Construction)

2. Gulick Vincent. 23044 MINERVA DR. $799,900. DOMM/DOMP: 97/97. (Short Sale)*

This home was orginally purchased for $1,334,843 in July 2005. It was once listed for $1,450,000. Now it's a short listed at $799,900 and liked sold lower than the list price.

Sold

According to MLS, 7 homes settled this past week.

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Condo

1. Beazer Aspen. 22631 SETTLERS TRAIL TER. $245,500 - $0 = $245,500. DOMM/DOMP: 53/169. (Foreclosure)

Townhouse

1. Beazer Chancery. 42481 CORTEZ TER. LP: $380,000. Not Yet Closed, Scheduled 5/30/09. DOMM/DOMP: 14/14. (Short Sale)

Single Family

1. Miller & Smith Fannie Ward. 23372 GARDENWALK DR. LP: $452,096. Not Yet Closed, Scheduled 5/31/09. DOMM/DOMP: 34/34. (New Construction)

2. Beazer Chelsea II. 2826 CONQUEST CIR. LP: $459,900. Not Yet Closed, Scheduled 5/31/09. DOMM/DOMP: 29/29. (Short Sale)

3. Stanley Martin Eliot. 42494 MERIDIAN HILL DR. $485,000 - $500 = $484,500. DOMM/DOMP: 92/92. (New Construction)

4. Gulick Townsend. 22962 LOIS LN. $650,000 - $10,000 = $640,000. DOMM/DOMP: 8/8. (Foreclosure)

5. Gulick Winthrop. 42743 MIRROR POND PL. $1,002,500 - $0 = $1,002,500. DOMM/DOMP: 171/171.*

*This is the first million dollar resale since 2005! I had lost hope for million dollar listings but this is definitely encouraging. So do I expect more homes to sell for million+? Not really. I expect more million dollar short sales in the coming years. A good example is 23044 MINERVA DR (Gulick Vincent) which was at one time listed at 1.45 million but now under contract while listed at $799,900. You can visit my short sale blog here.

Conclusion

Nothing new. If you didn't know, mortgage rates jumped almost at least .75% in the last few weeks. So if you were getting a mortgage for $500,000, your mortgage payment would be around $233 more per month. Also buyers are paying premium for the right properties right now so if you want to sell, you should sell now. Contact me with any questions.

Weekly Brambleton Real Estate Update for 5/18/09 t 5/24/09

2009-05-28T08:36:00.002-04:00

Quick Summary

New Listings: 3 (-1)

Under Contract: 7 (+3)

Sold: 4 (+1)

(Change from prior week.)

Introduction

As of today 5/19/2009, there are 48 active listings (-3) in MLS and 23 homes (+1) under contract in last 30 days. This gives us an absorption rate of 2.1 which is much better last week's rate of 2.3. Here's the breakdown of the active listings:

26 New Constructions (-1) , 9 Traditional Resales (+1), 0 Foreclosures (-1) and 13 Short Sales (-2).

Inventory is at all time low right now. It's the first time in few years that we did not have any foreclosure listing in Brambleton! This will be short lived however. There is a second wave of foreclosures headed to the market so we will definately see more in the future.

New

According to MLS, there were 3 new listings.

Condo

1. Summerfield Florence. 42539 MAYFLOWER TER #201. $200,000. (Short Sale)

2. Beazer Aspen. 22801 SETTLERS TRAIL TER. $324,900.

Townhouse

1. Beazer Chancery. 22946 OLYMPIA DR. $500,000. (Short Sale)

Under Contract

According to MLS, 6 homes went under contract this past week.

Condo

1. Beazer Aspen. 42669 HOLLYHOCK TER. $259,900. DOMM/DOMP: 96/96. (New Construction)

Townhouse

1. Centex Stratton. 42475 MALACHITE TER. $314,900. DOMM/DOMP: 8/8. (Short Sale)

2. Beazer Chancery. 2505 CORTEZ TER. $349,888. DOMM/DOMP: 6/6. (Short Sale)

Single Family

1. Beazer Devlin. 42774 CONQUEST CIR. $499,900. DOMM/DOMP: 8/55. (Foreclosure)

2. Centex Fulton. 42681 EMPEROR DR. $549,000. DOMM/DOMP: 0/95. (Short Sale)

3. Miller & Smith Clara Bow. 23252 HICKOX DR. $574,500. DOMM/DOMP: 80/80.

Sold

According to MLS, 4 homes settled this past week.

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Condo

1. Summerfield Verona. 42463 HOLLYHOCK TER. $200,000 - $0 = $200,000. DOMM/DOMP: 182/182. (Short Sale)

Townhouse

1. Miller & Smith Merlin. 23420 SPICE BUSH TER. $310,000 - $0 = $310,000. DOMM/DOMP: 92/92. (Short Sale)

2. Beazer Chancery. 42471 GREENSIDE DR. $365,000 - $10,950 = $354,050. DOMM/DOMP: 5/5. (Foreclosure)

Single Family

1. Beazer Chelsea II. 42819 CONQUEST CIR. $475,000 - $10,000 = $475,000. DOMM/DOMP: 6/6. (Short Sale)

3 short sales and 1 foreclosure!

Conclusion

Nothing new. Inventory keep dropping.