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Chris Ann Cleland, Associate Broker, Northern VA

Victory Lakes Townhouse Report: January 2012

Victory Lakes Townhouse Report: January 2012

Winter in Victory Lakes this year is like a yo-yo. One day it feels like spring, the next you are freezing your rear end off. Luckily, we're seeing much more stability in the Victory Lakes townhouse market. Let's take a look back at the sales activity from the first month of the year. We'll make comparisons to last report (December 2011) and last year (January 2011.)

TOWNHOUSES FOR SALE IN VICTORY LAKES

11 Listings were Active: 8 New Construction, 3 Regular Sales

There were fewer townhouses on the market in January than there were in December. This remains a category dominated by new construction. The high list price was 10% lower than it had been last report and the low list price was 11% higher. The average list price was virtually unchanged, though slightly higher than it had been in December. The average list price was up 8% compared to last year. The market is still gobbling up well priced regular sales. Some buyers can not see paying the premium price for new construction, so don't let Miller & Smith keep you off the market.

VICTORY LAKES TOWNHOUSES UNDER CONTRACT

11 Listings were Under Contract: 6 New Construction, 3 Short Sales, 2 Regular Sales

The townhouses under contract in Victory Lakes were higher than they were last report or last year. This is a category that also seems dominated by new construction, with a fair share of Short Sales thrown in. The high list price at time of contract was 12% higher and the high marketing time 14% faster than it had been last report. Low list price at time of contract was unchanged and low marketing time improved by 77% compared to last report. Average list price at time of contract was 7% higher than last report and 16% higher than last year. Average marketing time was 24% faster than last report and 8% faster than last year. Our best idea of market value comes when these listings under contract go to settlement so we can see what their sales price was.

TOWNHOUSES SOLD IN VICTORY LAKES

3 Listings Sold: 2 New Construction, 1 Short Sale

There were fewer sales in January compared to December. The high sold price was 5% down and high marketing time 59% faster than last report. Low sold price was 7% higher and low marketing time over 400% slower than it had been in December. Average sold price was higher than last report, though hardly measurably. The average sold price was 3% lower than it had been last year. Average marketing time was 13% improved compared to last report and 67% longer than last year.

The next Victory Lakes Townhouse Report will be out in March and will detail sales from February. Until then,if you find yourself in need of real estate advice, don't hesitate to call. I've been a full-time Bristow real estate agent, and Bristow home owner, since 2005. I've been a Short Sale Agent since 2007. No matter what your equity position, I can help you get the most money in the shortest amount of time for you Victory Lakes townhouse. And I'd be happy to put together a free, customized market analysis of your townhouse's specific value in today's market.

Chris Ann Cleland, Associate Broker-Licensed in VA, Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com, www.NVARealEstate.net, www.SpeakingOfHomes.net

Statistics compiled by Chris Ann Cleland using information in the MRIS (Metropolitan Regional Information Systems.)

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What to know the value of Victory Lakes Single Family Homes? Click the link for the Victory Lakes Single Family Home Report: January 2012.

Victory Lakes Single Family Home Report: January 2012

Victory Lakes Single Family Home Report: January 2012

Cold winter winds are whipping through Victory Lakes. Just when you thought we were going to get a mild winter, think again! Luckily downed trees from the 50 mph gusts of Saturday night/Sunday morning are at a minimum.

With the first month of the year behind us, let's take a look at how the Victory Lakes single family home market started in 2012. We'll make comparisons to last report (December 2011) and last year (January 2011.)

SINGLE FAMILY HOMES FOR SALE IN VICTORY LAKES

There were no active listings at the end of January 2012.

Since there were no active listings to end the month of January, there is no need to show you a table with no information in it. I can tell you that last month there were two active listings and last year we had four on the market. Clearly, spring buyer demand is here early! If you have been thinking of selling your Victory Lakes home, get it on the market ASAP, before every one else. It's your best shot at getting the season's highest price.

SINGLE FAMILY HOMES UNDER CONTRACT IN VICTORY LAKES

5 Listings were Under Contract: All Short Sales

The fact that Short Sales continue to dominate the homes under contract in Victory Lakes is not a surprise. Last report there were seven Short Sales under contract, last year there were eight. And just like those two reporting periods, all the homes under contract in January were Short Sales. The high list price at time of contract has remained unchanged since last report, but high marketing time improved by 82%. Low list price at time of contract went down, but hardly enough to register a 1/10th of a percentage change since last report. Meanwhile, low marketing time compared to last report remains unchanged. The average list price at time of contract decreased 37% since last report and only 3% compared to last year. The average marketing time improved 65% since last report and 64% since last year. It still blows my mind that one of these Short Sales under contract in Victory Lakes has been under contract since October 2010. If you don't want that to be you, hire an experienced Bristow Short Sale Agent.

SINGLE FAMILY HOMES SOLD IN VICTORY LAKES

4 Listings Sold: 3 Short Sales, 1 Regular Sale

The sold column was dominated by Short Sales in January, and it's no surprise since the under contract column is always dominated by them. Somehow, we've not seen this domination compared to last report and last year. The high sold price was 4% lower and high marketing time was 300% longer compared to last report. The low sold price was 5% lower and low marketing time 975% longer compared to last report. Average sold price was only 1% down compared to last report and down 7% compared to last year. Average marketing time was 318% longer than it was in December and 138% longer than it was a year ago. It is generally not my experience that Short Sales take longer to go under contract than regular sales, but this data would reflect that liklihood. Another reason why hiring an experienced Bristow Short Sale Agent is critical to your Short Sale success.

The next Victory Lakes Single Family Home Report will be out in March and detail sales from February. Until then, if you are contemplating the sale of your Victory Lakes home, give me a call for your free market analysis of your home's worth. I've been a full-time Bristow real estate agent and Bristow home owner since 2005. I've been a Bristow Short Sale Agent since 2007. No matter what your equity position, I know how to get your home sold for the highest dollar amount in the shortest amount of time.

Chris Ann Cleland, Associate Broker-Licensed in Virginia, Long & Foster REALTORS®

703-402-0037,ChrisAnn@LNF.com, www.NVARealEstate.net

Statistics compiled by Chris Ann Cleland using information in the MRIS (Metropolitan Regional Information Systems.)

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What to know the value of Victory Lakes Townhouses? Click the link for the Victory Lakes Townhouse Report: January 2012.

The Unknowns You Face as a Seller in a Short Sale

The Unknowns You Face as a Seller in a Short Sale

When you are selling your home in a Short Sale, there are a lot of questions that you want answered. There are no guarantees on how a Short Sale will turn out, but when you are working with an experienced Short Sale Agent you will at least get the lay of the land and get a feel for the direction their Short Sale will likely take, and what issues they need to investigate further. Here are some unknowns that I address with potential Short Sale Sellers:

SHORT SALE BANK(S): Will the bank(s) approve the sale? How long will it take? Will they issue a deficiency judgment or require cash at closing? Most of the financial questions can be foreseen by an experienced Short Sale Agent when they go over your income and assets with you. And an experienced Short Sale Agent will not only know the time lines each bank typically needs for approval, they will also know how to keep the process from stalling.

BUYERS: This is one that not a lot of Sellers think about, but the one that drives Short Sale Listing Agents batty. Buyers. Are they going to be there to hold up their end of the deal when you give them the approval letters, or will they have moved on? An experienced Short Sale Agent knows how to tell when a buyer is not willing to wait for your property. They will be able to give you guidance on how to make sure you are in a transaction with a buyer as serious about the home as you are about selling it. Still, things happen. Buyers get cold feet, get denied financing and sometimes vanish into thin air.

TAX LIABILITY: Whether or not you will have a tax liability on the forgiven mortgage debt you can largely figure out yourself by reading the Mortgage Debt Forgiveness Act. Virginia, unlike some states, follows the federal guidelines so if you qualify for tax forgiveness federally, you will qualify at the state level. If you may be facing tax consequences, your Short Sale Agent will know that at your first conversation and give you names of tax professionals you can speak with.

The unknowns in a Short Sale are never going to be crystal clear, but if you start the process by hiring an experienced Short Sale Agent, you will know that you have the best shot at a desirable outcome.

Kingsbrooke Townhouse Report: January 2012

Kingsbrooke Townhouse Report: January 2012

Maybe Punxsutawney Phil was right when he predicted six more weeks of winter on Groundhog Day this year. The wind is sounding evil tonight as it blows through Kingsbrooke. Seems Old Man Winter is back to blow around some snow and settle below freezing temps over Bristow. Brrrrrrrrr. Who knew it would be this cold in February given the mild temperatures to date?

With January behind us, let's take a look back to Kingsbrooke townhouse sales for the first month of 2012. We'll make our comparisons to last report (December 2011) and last year (January 2011.)

KINGSBROOKE TOWNHOUSES FOR SALE

2 Listings were Active: 1 Foreclosure, 1 Short Sale

There was double the amount of available inventory on the market in Kingsbrooke townhouses as January came to a close, compared to December. Still, the Kingsbrooke townhouse market is dominated by distressed sales. Since there was only one home available for sale last report, we'll stick to comparing averages. The average list price was 8% in January than it had been last report. And since there were no active listings in January 2011, we have no year to year comparison.

KINGSBROOKE TOWNHOUSES UNDER CONTRACT

4 Listings were Under Contract: 2 Regular Sales, 1 Foreclosure, 1 Short Sale

The Kingsbrooke townhouses under contract rose in January by one compared to December. This is a category evenly split between regular sales and distressed sales. The high list price at time of contract was 15% higher and high marketing time was 94% faster than it had been last report. The low list price at time of contract was 41% higher and low marketing time 700% slower than last report...though the increase to 8 days on the market is certainly nothing to worry over. The average list price at time of contract was 23% higher than last report and 18% than last year. Average marketing time was 85% faster than last report and 300% faster than last year.

TOWNHOUSES SOLD IN KINGBROOKE

2 Listings Sold: 1 Foreclosure, 1 Short Sale

Only distressed sales of Kingsbrooke townhouses made it to settlement in January. The high sold price was 12% lower, and high marketing time 239% longer than it had been last report. The low sold price was 20% lower and low marketing time 63% longer than it had been last report. The average sold price was 16% lower than last report and down only 6% compared to last year. The average marketing time was 200% longer than last report and 221% longer than it had been last year.

Overall, the demand is still high for Kingsbrooke townhouses, so if you have one to sell, my advice is to get it on the market before everyone else does when the weather warms and flowers start blooming. The laws of supply and demand are on your side right now if you want the best possible shot at getting the highest sales price for your Kingsbrooke townhouse.

The next Kingsbrooke Townhouse Report will be out in March and will detail sales from February. Until then, if you want a free market analysis of your specific home's value, I'm more than happy to provide it. I've been a Bristow home owner and full-time Bristow real estate agent since 2005. And being a Short Sale Agent since 2007 means I can help you sell no matter what your equity position happens to be.

Chris Ann Cleland, Associate Broker--Licensed in VA, Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com, www.NVARealEstate.net

Statistics compiled by Chris Ann Cleland using information in the MRIS (Metropolitan Regional Information Systems.)

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To see the Kingsbrooke Single Family Home Report for January 2012, click the link provided.

Kingsbrooke Single Family Home Report: January 2012

Kingsbrooke Single Family Home Report: January 2012

Kingsbrooke's mild winter continues, despite the predictions of Punxsutawney Phil on Groundhog Day. I for one am really enjoying the mild temps. It's giving me an opportunity to start the walking regimen I had planned for spring.

That brings me to my next point: As far as the Bristow real estate market is concerned, spring is here. All we need to do is take a look back at the market activity for January 2012 to see that demand for Kingsbrooke single family homes is high. We'll compare what we find to last report (December 2011) and last year (January 2011.)

KINGSBROOKE SINGLE FAMILY HOMES FOR SALE

1 Listing was Active: A Regular Sale

There is a definite inventory shortage when it comes to Kingsbrooke single family homes. This time last year there were five homes on the market. Last month there were two. This month we are down to one. And since there's only one, let's compare averages. The average list price was down 9% since last report and up over 11% since last year. Now is the time for Kingsbrooke home sellers to get their homes on the market for the best shot at getting the springs highest and best offers.

KINGSBROOKE SINGLE FAMILY HOMES UNDER CONTRACT

6 Listings were Under Contract: 4 Short Sales, 2 Regular Sales

Short sales have dominated the listings under contract in Kingsbrooke for a long time. In January, we saw the high list price at time of contract increase over 31%, while high marketing time remained unchanged...all since December. The low list price at time of contract was the same as it was last report, while low marketing time was 94% faster. Average list price at time of contract increased 12% since last report and 4% since last year. Average marketing time to get under contract was 22% faster than last report, but oddly unchanged since last year.

SINGLE FAMILY HOMES SOLD IN KINGSBROOKE

2 Listings Sold: Both Regular Sales

There were double the number of Kingsbrooke single family homes that made it to the sold column in January, compared to December. Since December only saw one home sold, we'll stick to comparing averages. The average sold price was up 40% since last report. Not surprising since only a small Kingsbrooke home had sold in December. The average marketing time was 4% longer than it was in December. Compared to last year, the average sold price increased a modest 2% and the average marketing time was 40% longer.

I will reiterate that the Bristow spring real estate demand is happening right now. Buyers are looking for single family homes in Kingsbrooke TODAY! Don't wait until your neighbors put their home on the market. If you want to sell, do it now while supply is down and inventory is down. It's your best shot at getting the highest prices the spring will see.

The next Kingsbrooke Single Family Home Report will be out in March and detail activity from February. Until then, if you want a free market analysis of your home's value in today's market, I'm happy to provide it. I've been a Bristow home owner and full-time Bristow real estate agent since 2005. And being a Short Sale Agent since 2007 means I can help you sell no matter what your equity position happens to be.

Chris Ann Cleland, Associate Broker--Licensed in VA, Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com, www.NVARealEstate.net

Statistics compiled by Chris Ann Cleland using information in the MRIS (Metropolitan Regional Information Systems.)

_________________________________________________________

To see the Kingsbrooke Townhouse Report for January 2012, click the link provided.