Real Estate Blog

Columbus Day is a U.S. holiday that commemorates the landing of Christopher Columbus in the Americas on October 12, 1492. It was unofficially celebrated in a number of cities and states as early as the 18th century, but did not become a federal holiday until 1937. For many, the holiday is a way of both honoring Columbus’ achievements and celebrating Italian-American heritage. But throughout its history, Columbus Day and the man who inspired it have generated controversy, and many alternatives to the holiday have proposed since the 1970s.

Christopher Columbus was an Italian-born explorer who set sail in August 1492, bound for Asia with backing from the Spanish monarchs King Ferdinand and Queen Isabella.

Columbus intended to chart a western sea

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August Market Stats Reflect Seasonal Slowdown of Total Sales, but Still Higher Prices
Reports the Northern Virginia Association of Realtors® 

Fairfax – “With inflation in a soft patch right now, many federal officials still project one more interest-rate increase this year but not right away,” explained NVAR Chairman Bob Adamson. “The Federal Reserve is in no rush to raise rates, which keeps value pricing intact for those applying for mortgages” he said.

“We had the seasonably expected slight decline in August home sales, with 2,018 sales closing, which is 4 percent lower than last August’s 2,104 closings.

When July and August home sales are averaged together, we only have a 1 percent decline in what is our third busiest season for home sellers

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Number of Newcomers Declines; Wage Growth Could Still Spark Housing Demand

Where is it Occurring, and How High Will it Go?

Clearly, home prices in Northern Virginia are exorbitant and continue to rise. Low inventory levels and high demand have propelled the median sales price to its new peak, and pushed the median number of days that a home is on the market to a new low.

Home price appreciation is widespread across the nation, but particularly pervasive in Northern Virginia. Within the region, there exists wide variation in home sale price by location and housing type. When will it stop?
At some point, people will hit their breaking points and refuse to pay premium rates for a home that does not fully match their needs or desires. Nevertheless,

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According to the Second Quarter Home Sales Report released by the Virginia REALTORS®, the residential real estate market continued its rise over prior year benchmarks. The second quarter of 2017 saw 37,201 residential transactions closed, a 5.3 percent increase over the 35,317 units sold in the second quarter of 2016. The value of those transactions was magnified by a rising median price, and totaled $13.091 billion, an increase of 9.2 percent from 2016’s second quarter volume of $11.986 billion. Relative to the second quarter of 2015, volume rose 20.2 percent (from $10.970 billion). The average number of days on the market dropped from prior year benchmarks to an average of 54 for the 2017 second quarter, 14.3 percent lower than last year’s second

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The Northern Virginia Association of Realtors® reports on July 2017 home sales activity for Fairfax and Arlington counties, the cities of Alexandria, Fairfax and Falls Church and the towns of Vienna, Herndon and Clifton.

A total of 2,251 homes sold in July 2017, a 2 percent increase above July 2016 home sales of 2,209.

Active listings decreased in July by about 12 percent compared with 2016. This past July, there were 4,375 active listings, compared with 4,991 homes available in July 2016. The average days on market (DOM) for homes in July 2017 was 36 days, a decrease of about 12 percent compared to the 41 DOM for homes in July 2016.
The average home sale price rose to $591,500 from last July’s average of $565,567. This was a 4.59 percent increase.

The

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Prince William County May Market Statistics

REALTOR® Association of Prince William (PWAR) has gathered Prince William County's most recent market statistics, generated by SmartCharts, an affiliate website of Real Estate Business Intelligence (RBI). The market statistics are gathered through data provided by the Metropolitan Regional Information System (MRIS), which serves as the multiple listing service for Prince William County.   A total of 881 homes were sold in May 2017, an increase of 6.9 percent compared to May 2016 closed sales. The number of new pending increased this month by 5.5 percent year-over-year, from 1,052 pending to 1,110. New listings also increased significantly this month by 14 percent year-over-year, from 1,147 new…

Most everyone with any relocating experience should recognize ‘the moment.’

No matter how much advance thought and elbow grease you’ve put in, that’s the moving day moment when everything seems to starts happening at once, and there’s literally no time left to attend to the stray details you’ve been meaning to take care of … 

It’s all but inevitable: the yellow pad that you’ve organized with all the Montclair Community, Dumfries VA  contact information you need today more than any other day: why, it’s packed! and sealed! inside one of the cartons that’s already out there in the van! 

When you’re relocating from (or to) Montclair Community, Dumfries VA  the unplanned will always happen. Nevertheless, you can control the areas that have the most

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·         Most Port Potomac, Woodbridge home sellers who have owned and lived in their primary residence for at least two of the preceding five years can exclude $250,000 of any gain (up to $500k for those filing joint returns). This is a gigantic incentive for homeownership. The major exception comes for those who have taken this deduction within the previous two years.

 

·         You may be able to deduct losses from an income property, though Port Potomac, Woodbridge home sellers may not deduct losses from the sale of their primary residence. Why not? Ask the rule-makers!

 

·         Special rules are likely to apply to Port Potomac, Woodbridge home sellers who received the one-timeFirst Time Home Buyer Credit when they bought their

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June Home Sales, with an 8 percent Jump, Yielded Close to List Price, Reports the Northern Virginia Association of Realtors®   Fairfax - "Our nation's consumer confidence index rose beyond expectations, and our market data shows that local buyers and sellers share that confidence, with evidence from the 8 percent increase in June home sales compared to last year," said 2017 Northern Virginia Association of Realtors® Chair Bob Adamson. "Today's buyers, optimistic about their long-term employment, have been careful about each listing's location, price and condition," Adamson said. "They also pay attention to the home's age, updates and likely commute times," he explained.
Noting lean, affordable inventory among available listings, CEO Ryan…

With more than 43 million people relocating throughout the U.S. every year, you don’t have to wait until you are surrounded by stacks of cartons to realize how important it is to make your next move the right one. If you’re buying a house in Montclair, Dumfries  in the foreseeable future, it’s a particularly valuable idea to take the time to chat with some of your potential new neighbors. And while you’re at it, why not bring up a few relevant questions:

Which schools are best? 

School quality affects more than just property values. Especially if you have your own kids, buying a house in Montclair, Dumfries  is least disruptive when their new school is the best one available. You’ll make the soundest choice by comparing more than one parent’s

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