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Ashburn, VA

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Now is the time to Buy a Home in NoVA

06-23-09
Donny & Meredith Samson
Donny & Meredith Samson: Real Estate Agent in South Riding, VA
  • view my blog
  • Mobile: (703) 864-4894

How to Choose a Home

Here are some tips to help determine which house is best for you.

Once you've settled on a couple of preferred neighborhoods for your home search, it's time to pick out a few homes to view. Having a house features "wish list" keeps you focused on which features are most important to you.

When narrowing down your home search, consider the following:

  • know what types of home you want to buy
  • determine what age and condition of the house you want to buy
  • consider resale potential
  • use a features wish list to keep focused
  • use a home search comparison chart to keep organized
  • act decisively when you find the right home

Determine What Type of Home You Want to Buy

There are several forms of home ownership: single-family homes, multiple-family homes, condominiums and co-ops.

Single-family homes: One home per lot.

Multiple-family homes: Some buyers, particularly first-timers, start with multiple-family dwellings, so they'll have rental income to help with their costs. Many mortgage plans, including VA and FHA loans, can be used for buildings with up to four units, if the buyer intends to occupy one of them.

Condominiums: With a condo, you own "from the plaster in." You also own a certain percentage of the "common elements" - staircases, sidewalks, roofs, etc. Monthly charges pay your share of taxes and insurance on those elements, as well as repairs and maintenance. A homeowner's association administers the development.

Co-ops: In some cities, cooperative apartments are common. With co-ops, you purchase shares in a corporation that owns the whole building, and you receive a lease to your own unit. A board of directors, comprised of owners and elected by owners, supervises the building management. Monthly charges include your share of an overall mortgage on the building.

Decide What Age and Condition of Home You Want to Purchase

Weigh your needs, budget and personal tastes in deciding whether you want to buy a newly constructed home, an older home or a "fixer-upper" that requires some work.

Consider Resale Potential

As you look at homes, you may want to keep in mind these resale considerations.

  • One-bedroom condos are more difficult to resell than two-bedroom condos.
  • Two-bedroom/one-bath single houses generally have less appeal than houses with three or more bedrooms, and therefore have less appreciation potential.
  • Homes with "curb appeal," i.e., well-maintained, attractive and with a charming appearance from the street, are the easiest to resell.
  • The most expensive houses on the street, or ones with anything unusual or unique are not suited for resale. The best investment potential is traditionally found in a less expensive, more moderately sized home.

Use a Features Wish List to Keep Your Search Focused

Make a features wish list to clarify which features are most and least important to you when looking for a home. Using this features wish list will keep your house hunt focused and effective.

Use a Home Comparison Chart to Keep Your Observations Organized

While house hunting, it's a good idea to make notes about what you see because viewing several houses at a time can be confusing. Use a home comparison chart to help you keep track of your search, organize your thoughts and record your impressions.

Act Decisively When You Find the Right Home

Before you begin the home buying process, resolve to act promptly when you do find the right house. Every REALTOR® has stories to tell about a couple who looked far and wide for their dream home, finally found it, and then said, "We always promised my Dad we'd sleep on it, so we'll make an offer tomorrow." Many times the story had a sad ending - someone else came in that evening with an offer that was accepted.

Resolve that you will act decisively when you find the house that's clearly right for you. This is particularly important after a long search or if the house is newly listed and/or underpriced.

*from my website www.dmsamson.com

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Northern Virginia Real Estate - Market Update - June 23rd

06-23-09
Donny & Meredith Samson
Donny & Meredith Samson: Real Estate Agent in South Riding, VA
  • view my blog
  • Mobile: (703) 864-4894

Low Rates, Plenty of Buyers and Low Inventory
Make it a Perfect Time to Sell

Most Markets in Northern Virginia are now
SELLER'S MARKETS!

In January of 2009, for every 5 homes on the market, 1 was under contract. In many areas of Northern Virginia, there are now 3-4 homes under contract for every 5 on the market. Homes that are priced correctly will have multiple contracts within one week. Many home sellers are pleasantly surprised with their pricing.

The sellers market extends beyond the lower priced homes. In some markets there is almost no inventory of luxury homes allowing sellers to command top dollar. All markets differ, but most markets, regardless of location and price, find themselves in a seller's market.

Tips for our Sellers:

Foreclosures and short sales are not your competition: We do not take their sales into account when pricing your home. Many buyers need to find a quality home and a seller who can make a decision and deliver the home within 60 days. Foreclosure and short sale buyers eventually get tired of losing contracts.

Know your buyers: Buyers are out there and they are paying top dollar for nice homes. You need to know where that price point is. Do not get greedy.

Moving up, or down: The ability for sellers to get top dollar for their home, creates a great opportunity for them to make a move on their next home and lock in low, long term rates.

The PROBLEM: The question is not what will your home sell for, it's what will it appraise for. New rules have made getting the appraisal job #1. I had 5 contracts on a home within a week, and then had to struggle with the appraiser to get our price.

Selling commissions With today's technology, no one has to pay more than 4.5% to sell their homes.

Tips for our Short Sellers:

Obama backs short sales: On May 14 the Obama administration urged banks to do more short sales and less foreclosures. This has led to new policies and procedures and turned short sales into a much more expedient process.

Pricing: Banks will generally accept 90% of a homes fair market value. Buyers are bidding most short sales to 95%-100% of value, so approval based on price is not a problem. Selection of short sale buyers is NOT BASED ON PRICE, but on lack of contingencies and security that the buyer will be there when the deal is approved. Selecting the right buyer is the critical issue.

Defining hardship: Banks require that the seller demonstrate a hardship and must sell. For some banks, owing $100,000 more than the home is worth is hardship enough. Samson Realty maintains a matrix of bank policies and can help in this process.

Timing: Most short sales go on the market on Thursday, held open on Sunday, collect contracts on Monday and ratify on Tuesday. Approval can now be obtained in less than 40 days, with settlement in 30.

Reentering the home market: Short sellers will take a hit on their credit, and at this time, will be unable to reenter the buying market for 12-18 months. There will be a huge number of rebound buyers that will be reentering the market in 2010-2013

Interest Rates:

Higher rates will slow refinancing, but not buyers: Rates have ticked up over the last two weeks. This was caused by all of the refinance bubble of homeowners taking advantage of lower rates. Rates still hover in the low 5% range and has not deterred buyers. The Fed is working to drop rates, but this is a more than acceptable range for buyers. 5 Year ARMS are available for 4% with 2 points. Rates are subject to change.

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ASHBURN VIRGINIA MARKET REPORT anc HOME PRICES FOR PROPERTIES SOLD in MAY 2009

06-07-09
Lenn Harley, Broker, Maryland and Virginia
Lenn Harley, Broker, Maryland and Virginia: Real Estate Brokerage in Rockville, MD
  • view my blog
  • Office: (800) 711-7988

ASHBURN VIRGINIA IS AN ACTIVE REAL ESTATE MARKET with new homes and resale homes selling.

HOMES CLOSED IN ASHBURN MAY 2009, NEW AND RESALE.

Status: SOLD (46)
List Price Bedrooms Baths FB HB DOMM DOMP Lot Sqft Yr Built
Min $323,585 3 3 2 0 0 0 Z 1988
Max $1,295,000 7 7 5 2 252 1,220 41,818 2009
Avg $581,585 4 4 3 1 55 89 13,212 2001

Ashburn is a major employment center for Northern Virginia. High tech employment has seen steady growth in Ashburn Virginia since the early 1990s as the attraction of Dulles Airport, smart tax incentives to employers and major road improvement to manage traffic has made this area a target for national and international companies.

Home buyers have benefited from this growth as major builders were attracted to the area. Prices are far lower than Fairfax County real estate and the public schools in Loudoun County are popular and scholastic achievement is high.

LOUDOUN COUNTY HIGH SCHOOLS

Homes closed in Ashburn in May, 2009, including new and resale.

City Builder ListPrice ClosePrice BR FB HB # Gar Lot Acres YrBlt
Ashburn Centex $323,585 $323,585 3 3 0 2 0 2009
Ashburn $367,900 $376,000 4 2 1 1 0.15 1996
Ashburn $379,000 $379,000 4 3 1 2 0.16 1996
Ashburn $384,900 $380,000 4 2 1 2 0.15 1999
Ashburn $384,900 $382,000 3 2 1 2 0.09 2003
Ashburn $400,000 $420,000 4 3 1 2 0.16 1997
Ashburn $427,500 $402,000 3 3 1 2 0.24 1989
Ashburn $429,900 $425,000 6 3 1 2 0.26 1989
Ashburn $449,900 $475,000 4 3 1 2 0.19 2005
Ashburn $450,000 $450,000 3 3 1 2 0.1 2002
Ashburn $450,000 $450,000 4 3 1 2 0.15 1988
Ashburn $489,900 $482,000 4 2 1 2 0.21 2000
Ashburn $499,000 $467,000 4 3 1 2 0.18 2005
Ashburn $499,900 $432,000 4 3 1 2 0.26 1993
Ashburn SMC $499,990 $485,000 4 4 1 2 0.257 2009
Ashburn $500,000 $485,000 5 3 1 2 0.17 1995
Ashburn $504,900 $494,900 5 4 1 2 0.21 1995
Ashburn $508,900 $525,000 5 3 1 2 0.27 2005
Ashburn $515,000 $511,000 4 2 1 2 0.33 1990
Ashburn $515,000 $507,000 5 3 1 2 0.23 1996
Ashburn $522,500 $500,000 4 2 1 2 0.23 2006
Ashburn $525,000 $525,000 4 2 1 2 0.2 2005
Ashburn $525,000 $520,000 4 3 1 2 0.22 1995
Ashburn Winchester $542,596 $542,596 4 2 1 2 0.16 2009
Ashburn $545,900 $575,026 5 4 1 2 0.8 1998
Ashburn $550,000 $529,000 4 3 1 2 0.19 1996
Ashburn $559,000 $552,000 4 4 1 2 0.18 2002
Ashburn $599,990 $560,000 5 4 1 2 0.19 2004
Ashburn $607,900 $635,000 5 4 0 2 0.61 2001
Ashburn $620,000 $565,000 7 5 1 5 0.96 2003
Ashburn TollBros. $620,886 $620,886 4 3 1 2 0.102 2009
Ashburn $624,900 $629,900 4 4 1 2 0.29 1998
Ashburn $625,000 $625,000 5 4 1 2 0.46 1997
Ashburn $629,900 $630,000 4 3 1 2 0.46 2003
Ashburn $634,000 $643,000 3 3 1 2 0.32 2004
Ashburn $634,999 $634,999 5 4 1 2 0.23 1996
Ashburn $649,900 $650,000 5 4 1 2 0.28 2006
Ashburn Winchester $660,991 $660,991 4 4 1 2 0.16 2009
Ashburn $689,900 $679,900 5 4 1 2 0.36 2003
Ashburn $699,500 $680,000 4 4 1 2 0.49 2002
Ashburn $739,995 $697,750 4 4 1 2 0.293 2007
Ashburn $799,900 $775,000 5 4 1 3 0.59 2003
Ashburn $850,000 $815,000 5 4 1 3 0.71 2004
Ashburn $970,000 $970,000 4 4 1 3 0.68 2000
Ashburn $1,050,000 $1,002,500 5 4 2 2 0.31 2003
Ashburn $1,295,000 $1,175,000 5 5 2 3 0.71 2002

Demographics for Loudoun County, Virginia
--Average Income Families
W/Children $ 101,594
--Average Age 33.5
--Percent Married 65.3
--Percent With Children 43
--Percent High School Graduates 94.9
--Percent College Graduates 56.5
--Average SAT Scores 1036
--Expenditures Per-Student $ 9,255
--Land Area Square Miles 519.9
--County Population 169,599
--Population Density Per Sq. Mile 326
--Population Growth Rate (5 yrs) 7.9 %

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988, E-mail.

Ashburn VA Map

Loudoun County Map

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BUILDER IN ASHBURN VA IS TAKING BUILDING LOTS OUT OF RETIREMENT.

06-07-09
Lenn Harley, Broker, Maryland and Virginia
Lenn Harley, Broker, Maryland and Virginia: Real Estate Brokerage in Rockville, MD
  • view my blog
  • Office: (800) 711-7988

HOME BUILDERS in LOUDOUN COUNTY ARE TRYING TO LEVERAGE THEIR LAND HOLDINGS INTO HOME SALES.

NEW HOMES SALES IN ASHBURN VIRGINIA ARE VIGOROUS and buyers are out looking and buying.

While we see some builders closing communities and not finishing construction, others are reviving previously closed communities. Of course, they've sited the lots with smaller floor plans and lower prices to meet the market of today. What would sell in 2005 will not necessarily sell today.

The homes below are what this builder sold in 2006/2007 for prices in the high $600,000 for 4,000 square feet homes. Today the homes have been redesigned to about 3,200 square feet and offered starting in the mid to high $500,000 range.

Martins Chase

Fortunately, the amenities in this community were finished when the builder was selling in 2006-2007.

Martins Chase Community Center

The community center and pool is completed and in full swing.

New Homes in Ashburn

Style for homes in the 3,000 and 3,200 square feet offered today.

We're glad to see major builders taking land out of retirement and responding to the invigorated new homes market in Loudoun County, Virginia.

Courtesy Lenn Harley, Broker, Homefinders.com, 800-711-7988, E-mail. Ask about the Homefinders.com, New Home REBATE.

Map Ashburn Virginia

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ASHBURN VIRGINIA LUXURY HOME INVENTORY JUNE 1, 2009

05-31-09
Lenn Harley, Broker, Maryland and Virginia
Lenn Harley, Broker, Maryland and Virginia: Real Estate Brokerage in Rockville, MD
  • view my blog
  • Office: (800) 711-7988

TOURING NEW HOMES FOR SALE IS FUN. WE GET TO VISIT BEAUTIFUL SPECTACULARLY DECORATED MODELS, MEET BUILDERS' REPRESENTATIVES WHO WELCOME OUR INTEREST IN THEIR COMMUNITY. While I'm previewing and compiling a list of homes in inventory for a specific relocating home buyer, I'm also visiting luxury homes, town homes and villas for sale. This is one of the more enjoyable things on my schedule. Buyer Brokers who focus on new home sales want to stay on top of communities, styles, amenities, upgrades, prices and inventory.

LOOK AT THIS BEAUTIFUL HOME STYLE. Planned for an August delivery, this home represents the luxury market in Ashburn Virginia.

New Luxury Home in Ashburn New Luxury Home in Ashburn

This is the model to be delivered in August 2009.

  • Features included in this home:
  • Beautiful wooded, 1/2 acre, walk-out lot.
  • 4,200 square feet of luxury on the main and upper level with about 6,825 square feet on 3 levels.
  • Full stone front.
  • 5 bedrooms and 5 full baths on bedroom level.
  • Living room, dining room, foyer, powder room, kitchen, breakfast room, study on mail level.
  • Fully finished basement with den, recreation and full bath.
  • 3 car side entry garage.
  • Gourmet kitchen w/ cherry cabinets, stainless steel appliances, Granite counter-tops, over sized island.
  • Stone fireplaces in family room on main level and in recreation room in the lower level.

Base Price . . . . . . . . . $794,900

Total Options . . . . . . . $222,765

Full Built Out Price . . . $1,017,665

Discount . . . . . . . . . . . $182,765

INVENTORY SALE PRICE $849,900

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988, e-mail

For more detailed information and descriptions, see here.

ASK about the Homefinders.com New Homes REBATE for all of our new home buyers.

Ashburn Virginia in Loudoun County, Virginia MAP.

Ashburn VA Map

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