The Arlington Condominium Report ~ YTD October 2009

The Arlington Report for YTD October 2009

Model # Sold Sales Range Ave. Price Ave. Subsidy

A Lower 1 $300,000 $300,000 $9,750

B Upper 8 $260,000 - $295,000 $281,375 $3,795

C Lower 6* $275,000 - $293,000 $284,167 $1,667

L Lower 1* $345,000 $345,000 $ 0

M Upper 4* $300,000 - $311,000 $306,250 $4,831

*Excludes a short sale due to the distressed nature of the sale

Data source: MRIS settled transactions 1/01/2009 - 10/31/2009, deemed reliable, but not guaranteed

Compliments of AJ & Jodee Heidmann
YOUR Resident Specialists for The Arlington

There were 3 additional closings in the month of October, which brings the total number of market rate units sold to 20 for the year, though as of November 1st there aren't any more units fully under contract. This appears to be the result of buyers trying to meet the deadline to qualify for the $8,000 First Time Home Buyer Tax Credit and after early October it is doubtful that a contract would make it all the way to settlement by the 11/30/09 deadline. Accordingly, the inventory of fully available units has grown from 2 in September to 6 of the 2Bed/1Bath configurations today.

An extension of the tax credit through April 30, 2010, with an expansion to include owners that have owned their current home for at least 5 years, is working it's way through Congress as an attachment to extending unemployment benefits. It appears to have a good chance of surviving intact with a vote anticipated sometime in the next few weeks. This would be a boost to the market during the holiday season, which is generally a very slow period for new contracts. Time will tell and we look forward to keeping you up to date on the happenings in The Arlington.

Respectfully,

AJ Heidmann, ABR, CRS, e-PRO

Cell 703-474-1260 ~ Office 703-518-8300 ~ Fax 703-518-8314

AHeidmann@CBMove.com

Coldwell Banker Residential Brokerage

310 King Street, Alexandria, VA 22314

Licensed in Virginia