SUMMARY The current inventory level for Stone Ridge increased by 3 units to 15 active listings this is a 25% increase. With NO NEW LISTINGS to the market and NO HOMES receiving contracts this past week was a slow in Stone Ridge but even with the 4 new listings it is still a low inventory level for Stone Ridge.   CLICK HERE for entire post 05/11/2009

SUMMARY The current inventory level for South Riding was reduced by 6 to 42 active listings, this is a 12% decrease. With 2 new listings , and 10 homes which went under contract making another active week in South Riding especially in homes receiving contracts this is 21 in the past 2 weeks . The 10 homes receiving a contracts last week did so with an average 59 days on the market. Additionally, the 4 homes which went to record last week had an Average DOMP of 35 which is about 4 days more than our current absorption rate and had an average net sales price of 97.8%. Looking at the latest days on the market for homes which received contracts last week, it looks as if buyers out there are making quick decisions on the well priced properties whether it is a short sale, bank owned, or regul... 05/11/2009

For two months in a row we've had the number of homes under contract to sell increase. I am referring to national statistics, but I have also noticed, at least in my own part of the real estate world here in Chantilly and the Northern Virginia area, that things have been up-ticking somewhat. As reported by an industry trade association, the Pending Home Sales Index rose by 3-plus percent last month. This set of stats refers to properties that are under contract, but have not gone to Settlement as yet. Keep in mind that deals fall out of contract all the time, especially in the current environment.  At the same time, deals go through all the time as well.  Not much is 100%.  So this statistical indicator is not airtight, but it certainly is suggestive. There are always a combination of f... 05/06/2009

Real estate agents and others who work in the industry and are "in the trenches" day by day are positioned to see things happen before they show up as national statistics. Lately I have noticed more multiple-offer situations.  I have noticed this on the properties that are above average in terms of their appeal.  I definitely don't see this happening across the board.  Nevertheless, it gets my attention. Are we inching closer to the end of the falling home prices that have been the norm? According to NAR stats, the number of Existing Home Sales fell by a modest 140,000 units last month. We have had five months of sales hovered in the 4.5 million range. Add to that the fact that the national housing inventory is down by about 900,000 from its July 2008 peak. These are good statistics, at... 05/05/2009

SUMMARY The current inventory level for Stone Ridge decreased by 7 units to 12 active listings this is a 37% decrease. With NO NEW LISTINGS to the market and 5 homes receiving contracts this past week was a busier week activity in Stone Ridge leaving a very low inventory level.   CLICK HERE to view entire post 05/04/2009

SUMMARY The current inventory level for Stone Ridge decreased by 2 units to 19 active listings this is a 10% decrease. With NO NEW LISTINGS to the market and 2 homes receiving contracts this past week was slow week of activity in Stone Ridge. The 1 home which sold netted 96.3% and was on the market for 0 days, however it is a new home sale from Van Metre and that is how the days on the market was reported in mls. CLICK HERE to see entire post 04/27/2009

Many people have fire extinguishers at home, but there is a question as to whether if may still work, assuming you can remember where it is located. For most of us who are not professional fire fighters there is an interesting product called Tundra Fire Extinguishing Spray and it is supposed to be easy and seamless to use. It is made by the First Alert company and it is said to have some advanages that  traditional extinguishers don't have. Tundra sprays for 32 seconds -- double a traditional fire extinguisher Tundra spray covers 3 times more surface area than a traditional extinguisher Tundra cleans up with a damp sponge The Tundra Fire Extinguishing Spray is recommended for these kinds of fire emergencies: cooking, electrical, and household fires  where wood, paper, and fabrics are th... 04/23/2009

SUMMARY The current inventory level for Stone Ridge decreased by 1 units to 21 active listings this is a 5% decrease. With 2 homes to the market and 1 home receiving contracts this past week was slow week of activity in Stone Ridge. The 1 home which sold netted 94.6% and was on the market for about 2 1/2 months it was a short sale.   CLICK HERE to see entire post   04/20/2009

Anyone losing their home is one person or family too many, but when you hear the stats on foreclosures I think it is important to know the numbers behind the numbers. We are all likely to be hearing about foreclosures rates for quite some time, and when you do hear them you may find it helpful to consider what percentage of the foreclosed homes are located where. There is a lot of geographical concentration in the location.  That may be an understatement. Putting together the numbers from RealtyTrac.com it appears that over half of the country's foreclosures from the March stats occurred in just 3 states -- California, Florida and Nevada. Along with this, consider that these 3 states represent about 19 percent of the USA's population. Of course, this does not mean that foreclosures are ... 04/19/2009

SUMMARY The current inventory level for Stone Ridge decreased by 1 units to 22 active listings this is a 5% decrease. With NO NEW LISTINGS to the market and 1 home receiving contracts this past week was slower week of activity in Stone Ridge. The 1 home which sold netted 97% and was on the market for about 8 1/2 months it was a short sale.  click here to see the post.     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. 04/13/2009

It was bound to happen.  A combination of factors has led to a lot of refinancing activity. But not all lenders are able to process the applications in a timely manner. With up to 60 days or more from the time of application to the time of closing, it is not uncommon for life situations to change.  But be careful because some changes can blow the application out of the water. Some things you can control, and some things you can't control.  It is smart to control those in the first category, so that you avoid circumstances that may negatively impact your application.  That is especially true in the current environment. Here are at least 8 things you should NOT do, in order to keep your refi plans on track,. Don't buy that new car, and avoid a trade-up to a bigger lease. Don't quit your j... 04/12/2009

You have heard about the federal government's efforts to help improve the mortgage and housing situation.  Well, on April 4, 2009, the Making Home Affordable refinance program had its official start. If you'd like to know more, here is some basic information and an idea on what to do next, if you want to dig a bit deeper.  Please use this as a starting point and not as "gospel."  This is my understanding based on what I have learned so far. One part of the thinking behind the program is to put aside declining home prices and get people into the program based on benefit to the applicant, as well as their payment history.   A projected 5 million participants are expected to be approved. But there are eligibility criteria.  Let's start with three requirements. First, is your existing home ... 04/11/2009

Summary In general there are more homes selling and are taking less time, 19 days, to sell comparing the First Quarter of 2009 to the same time period in 2008. There have been 5 more homes sold in the same period. While the average asking price has decreased by $21,182 and average net sales price has decreased by $14,831, the percent to Asking Price has slightly increased by .9 basis points to 97.3%, this is largely in part to the increase in the average sold price of Detached Homes. Distressed sales have increased in Q1 2009 compared to Q1 2008. It appears sellers are pricing their homes to attract buyers quickly and for close to asking price. Click here to see the complet post. 04/09/2009

We did a New Construction feature on Greene Mill Preserve not long ago.  Our friends at this development have just given us a "heads-up" that they have updated their pricing - with and even more attractive price range for the various Stanley Martin Homes that this community features (now $439,990 to $569,990). If you are home searching in the Leesburg and Ashburn area, please read our feature on this development, and let us know if we can help. [The Kathy O’Neal Team serves home buyers and sellers in Northern Virginia, with special focus on Chantilly, Centreville, and the communities of the Western Fairfax region.] 04/07/2009

  SUMMARY The current inventory level for Stone Ridge increased by 1 units to 23 active listings this is a 5% increase. With 3 homes to the market and 3 homes receiving contracts this past week was active in Stone Ridge. The 2 homes which sold netted on average close to 97% and were on the market for about 3 1/2 months, both numbers are almost identical to last week homes which went to record. The2/3 of homes which went under contract or sold were distressed sales. I will be working on my 1st Quarter Review of Stone Ridge and hope to post it later this week.   To get more detailed information CLICK HERE.   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.... 04/06/2009

[PLEASE NOTE:  Attorney John Pitrelli continues his series on what home buyers and sellers should know about practical legal matters in the current real estate environment.] Recently, I have seen a renaissance in the use of owner financing in real estate settlements.  This is not surprising, since owner financing can be a powerful tool for buying and selling property, especially when bank financing is difficult to obtain. One of the most frequently used methods of owner financing is the Contract for Deed or Installment Land Contract.  With this method of financing the Deed to the property is held in escrow and not recorded until the Seller (Owner) held financing is paid in full.  The buyer will enjoy all the benefits of home ownership recognized by IRS, even though the Deed to the prope... 04/06/2009

If your search for homes includes the Centreville and Chantilly areas, you may want to be aware of County Club Manor.  One entry point is the intersection of Braddock Road and Carlburn Drive.  In the same immediate area you will find Chalet Woods and The Fairways, and you might also check out Sully Station. Here are CURRENT LISTINGS IN COUNTRY CLUB MANOR. For list of FORECLOSURES and BANK OWNED properties just CONTACT US and I will get that information to you. Here are a few other links that will give you more information about this community and others in this general area. MORE INFORMATION ON COUNTRY CLUB MANOR. MORE INFORMATION ON:  CHANTILLY-FAIRFAX COUNTY, CHANTILLY- LOUDOUN COUNTY, CENTREVILLE AREA, and  NEARBY COMMUNITIES. Moving to the Northern Virginia area?  Visit our RELO CEN... 04/05/2009

You have probably heard about lead-based paint, but you may not know that lead, not to mention other toxic metals, are in other everyday products.  Also, what about the surfaces we come in contact with...more than enough unpleasant chemicals there too. Hand washing, even with a disinfectant, does not really do the trick. Another option is a serious wipe like Hygenall. Hygenall is a cleansing wipe that removes metal oxides from the skin's surface, including lead.  The wipe produces a specially-formulated lather that grabs and traps heavy metals, then pulls them away from the skin. The Hygenall website recommends its product for people including: Pregnant mothers Children in daycare Sportsmen, policemen and others weapon-handlers Construction workers The site also provides links to studie... 03/31/2009

 SUMMARY The current inventory level for Stone Ridge increased by 2 units to 22 active listings this is a 10% increase. With 4 homes to the market and 4 homes receiving contracts this past week was a busier week in Stone Ridge. The 2 homes which sold netted on average close to 97% and were on the market for about 3 months. The majority of homes which went under contract or sold were distressed sales.  To get more detailed information CLICK HERE.   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 informa... 03/30/2009

Here is a "heads-up" for home buyers and home owners considering refinancing. Are rising oil prices your sign that mortgage interest rates are headed up? There are a number of factors at play that have pushed crude oil past the $50 mark for the first time in 4 months, and these forces may also cause mortgage rates to rise. For example, on March 18, the Fed pledged an additional $1.15 trillion to support the economy. Is this part of a Federal Reserve strategy to intentionally trigger inflation?  The Fed's total debt purchases now total $1.75 trillion. To finance its commitments, the Federal Reserve is cranking up the printing presses.  New money is on the way, along with a devalued dollar..  This moves us toward inflation which in turn contributes to rising oil prices, and very possibly ... 03/28/2009