Mark Murad

INTRODUCTION
As of September 29, 2008, there are 27 active listings in MLS and 4 homes that went under contract in the past 30 days. This gives us a current absorption rate of 6.8. which is higher than last week's rate of 5.0. Of the 27 active listings, 10 are new homes from the builder(2 condos, 4 town homes, and 4 detached homes), 10 are traditional sales the remainder are distressed sales which break down as follows:

Short Sale Condos: 1
Short Sale Town Homes: 2
Short Sale Detached Homes: 2
Total Short Sales: 5
Percent of Short Sales: 18.5%

Bank Owned Condos:
Bank Owned Town Homes: 1
Bank Owned Detached Homes: 1
Total Bank Owned: 2
Percent of Bank Owned: 7%

Total Non-Traditional Sales: 7
Percent of Total Non-Traditional Sales: 25.9%


NEW LISTINGS
According to MLS, there are 2 new listings new to the market this week, the same amount as last week. One is a distressed sales.

Town home:
42102 FREMONT PRESERVE SQ, LP: $379,900 DOMP: 4

Detached Home:
41960 URAL DR, LP: $450,000 DOMP: 3 (foreclosure) -I have spoke with the listing agent on this home and have been informed there is a contract already submitted to the bank on this property.

Contact me if you would like additional information on any of these Stone Ridge homes.


UNDER CONTRACT
According to MLS, there was 1 home which went under contract during this period, 1 more than the amount as last week. Keep in mind not all contracts written for new home sales from the builder are reported to MLS.

Town home:

42110 TANZANITE TER, LP: $399,000 DOMP: 0

This home is not a distressed sale going to under contract status this past. The home was on the market for the 0 days! This less than our current absorption rate for Stone Ridge 6.8, mentioned in the introduction.


SOLD
According to MLS, there was 1 home sold and went to record the period of 9/22/08 to 9/29/08 . Sometimes closings get delayed or the listing agent forgets to update the status in a timely matter. Additionally not all new home sales from the builder are reported to MLS.

Town Home:
Builder - Model, Address, List Price, Sold Price - Seller Subsidy = Net Sold Price, % of asking price, DOMM/DOMP

Van metre - Bosby w/ bump outs, 24672 NETTLE MILL SQ, $364,900, $365,000 -$0 = $365,000, 100%, 5/5 (foreclosure)

Average Net %: 100%
Average DOMM / DOMP: 5/5

SUMMARY
The current inventory level for Stone Ridge increased this week by 2 units to 27 active listings . The home which sold and went to record last week which is a distressed sale received a contract in less than 1 week and at sold for 100% or more of the asking price. It looks as if many sellers are setting the asking price of their home to attract quick and close to full price offers. As I have said before, when buyers perceive a good value for the price of the home they will not hesitate to make an offer.


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.

INTRODUCTION

As of today, September 29 , 2008, there are 64 active listings in MLS and 17 homes that went under contract in the past 30 days. This gives us a current absorption rate of 3.8, which is higher than last week's rate of 3.2. The number of distressed sales out of the total actives and the breakdown is as follows:

Short Sale Condos: 0 Short Sale Town Homes:11 Short sale Detached Homes: 6 Total Short Sales: 17
Percent of Short Sales: 26.6%

Bank Owned Condos: 0 Bank Owned Town Homes: 4 Bank Owned Detached Homes: 3 Total Bank Owned: 7 Percent of Bank Owned: 10.9%

Total Distressed Sales: 24 Percent of Total Distressed Sales: 37.5%


NEW LISTINGS

According to MLS, there were 7 new listings during the period of 9/22/2008-9/29/2008, the same amount as last week, 3 area distressed sales:

Town Homes:
42938 GOLF VIEW DR, LP: $285,000 DOMP: 6 (foreclosure)
42940 GOLF VIEW DR, LP: $299,900 DOMP: 4 (short sale)
25283 NESTING SQ, LP: $414,990 DOMP: 4

Detached Homes:
26020 RACHEL HILL DR, LP: $525,000 DOMP: 3
43635 OLEARY LN, LP: $610,000 DOMP: 1
42534 LEWISTON DR, LP: $699,900 DOMP: 7 (short sale)
43272 VALIANT DR, LP: $710,000 DOMP: 6

Contact me if you would like additional information on any of these South Riding homes.


UNDER CONTRACT

According to MLS, there were 6 homes which went under contract during this period, 3 more than the amount as the previous week.

Town Homes:
25334 SHIPLEY TER, LP: $255,000 DOMP: 15 (foreclosure)
42815 PILGRIM SQ, LP: $269,500 DOMP: 29 (foreclosure)
25326 SHIPLEY TER, LP: $274,900 DOMP: 37 (foreclosure)
25494 UPPER CLUBHOUSE DR, LP: $299,900 DOMP: 372

Detached Homes:
25289 TALENT ST, LP: $499,900 DOMP: 15 (foreclosure)
25596 ARTHUR PL, LP: $1,049,000 DOMP: 62

This is 3 more distressed sales going to under contract status this past than in the previous week. The average days on the market for the 6 homes is 88 days which is just under 3 months to receive an offer. This less than our current absorption rate for South Riding 3.8,mentioned in the introduction.

SOLD

According to MLS, there was 3 homes sold and went to record the period of 9/22/2008-9/29/2008. Sometimes closings get delayed or the listing agent forgets to update the status in a timely matter.

Town Homes:

Address, List Price, Sold Price - Seller Subsidy = Net Sold Price, % of asking price, DOMM/DOMP

25244 DUNVEGAN SQ, 375,000, $375,000 - $11,250 =$363,750, 97% 14/14

Average Net %: 97
Average DOMM / DOMP: 14/14

Detached Homes:

Address, List Price, Sold Price - Seller Subsidy = Net Sold Price, % of asking price, DOMM/DOMP

42827 FREEDOM ST, $430,000, $425,000 - $0 = $425,000, 98.8%, 0/0

43046 DOWNFIELD ST, $650,000, $635,000 - $15,000 = $620,000, 95.4%, 113/276 (short sale)

Average Net %: 97.1%

Average DOMM / DOMP: 57/138

SUMMARY

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.

INTRODUCTION
As of September 22, 2008, there are 25 active listings in MLS and 5 homes that went under contract in the past 30 days. This gives us a current absorption rate of 8.3 which is lower than last week's rate of 5.0. Of the 25 active listings, 10 are new homes from the builder(2 condos, 4 town homes, and 4 detached homes), 9 are traditional sales the remainder are distressed sales which break down as follows:

Short Sale Condos: 1

Short Sale Town Homes: 2

Short Sale Detached Homes: 2

Total Short Sales: 5

Percent of Short Sales: 20%

Bank Owned Condos:

Bank Owned Town Homes: 1

Bank Owned Detached Homes: 0

Total Bank Owned: 1

Percent of Bank Owned: 4%

Total Non-Traditional Sales: 6

Percent of Total Non-Traditional Sales: 24%

NEW LISTINGS

According to MLS, there are 2 new listings new to the market this week, the same amount as last week. Both are distressed sales.

Detached Homes

Van Metre - Hemingway, 41832 CORDGRASS CIR, List Price: $585,000 DOMP 3 (short sale)

Van Metre - Not sure of Model, 41869 CORDGRASS CIR, List Price: $599,900 DOMP 4 (short sale)

Contact me if you would like additional information on any of these Stone Ridge homes.

UNDER CONTRACT

According to MLS, there were no homes which went under contract during this period, 1 less than the amount as last week. Keep in mind not all contracts written for new home sales from the builder are reported to MLS.

SOLD

According to MLS, there was 1 home sold and went to record the period of 9/15/08 to 9/22/08 . Sometimes closings get delayed or the listing agent forgets to update the status in a timely matter. Additionally not all new home sales from the builder are reported to MLS.

Town Homes

Builder - Model, Address, List Price, Sold Price - Seller Subsidy = Net Sold Price, % of asking price, DOMM/DOMP

Van Metre -Mosby, 24596 SILTSTONE SQ, $399,900, $385,000 -$0 = $385,000, 96.5%, 221/221

Average Net %: 96.5%
Average DOMM / DOMP: 221/221

SUMMARY

The current inventory level for Stone Ridge is at 25 active listings. The past 3 weeks we saw only 3 homes receive contracts and 1 go to record. This is a typical slowdown in activity as we are now officially in the fall season. We may see a bit more more sold homes next week as we are in the last full week of the month.

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.

INTRODUCTION

As of today, September 22 , 2008, there are 61 active listings in MLS and 19 homes that went under contract in the past 30 days. This gives us a current absorption rate of 3.2, which is higher than last week's rate of 3.1. The number of distressed sales out of the total actives and the breakdown is as follows:

Short Sale Condos: 0
Short Sale Town Homes: 9 Short sale Detached Homes: 6
Total Short Sales: 15 Percent of Short Sales: 24.6%

Bank Owned Condos: 1
Bank Owned Town Homes: 5 Bank Owned Detached Homes: 4 Total Bank Owned: 10
Percent of Bank Owned: 16.4%

Total Distressed Sales: 24
Percent of Total Distressed Sales: 39.3%

NEW LISTINGS

According to MLS, there were 4 new listings during the period of 9/15/2008-9/22/2008, the same amount as last week, 2 area distressed sales:
Town Homes:
25203 DUNVEGAN SQ, List Price: $339,900 DOMP: 4 43636 OBRIEN SQ, List Price: $349,900 DOMP: 5

Detached Homes:
26080 FLINTONBRIDGE DR, List Price: $429,900 DOMP: 7 (short sale) 25773 KAISER PL, CHANTILLY, List Price: $430,000 DOMP: 2 (foreclosure)
Contact me if you would like additional information on any of these South Riding homes.

UNDER CONTRACT

According to MLS, there were 3 homes which went under contract during this period, the same amount as the previous week. Town Homes: 25244 DUNVEGAN SQ, List Price: $375,000 DOMP: 14 43547 MINK MEADOWS ST, List Price: $389,900 DOMP: 25 Detached Homes:43232 DARKWOODS ST, List price: $529,000, DOMP: 66

With no distressed sales going to under contract status this past week results in 2 less than the amount of distressed sales in the previous week. The average days on the market for the
3 homes is 35 days which is just over 1 month to receive an offer. This less than our current absorption rate for South Riding 3.2,mentioned in the introduction.

SOLD

According to MLS, there was 1 home sold and went to record the period of 9/15/2008-9/22/2008. Sometimes closings get delayed or the listing agent forgets to update the status in a timely matter. Town Homes
Address, List Price, Sold Price - Seller Subsidy = Net Sold Price, % of asking price, DOMM/DOMP

25895 KIRKWOOD SQ, $399,990, $395,000 - $23,700 = $371,300, 92.8%, 54 /54

Average Net %: 92.8%

Average DOMM / DOMP: 54/54

Detached Homes
Address, List Price, Sold Price - Seller Subsidy = Net Sold Price, % of asking price, DOMM/DOMP
No detached resale homes sold and went to record last week.

SUMMARY

The current inventory level for South Riding is still at one of the lowest amounts with 61 active listings. The past 2 we saw only 6 homes receive contracts and 2 go to record. This is a typical slowdown in activity as we are now officially in the fall season. We may see a bit more more sold homes next week as we are in the last full week of the month.

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.

INTRODUCTIONAs of September 15, 2008, there are 25 active listings in MLS and 5 homes that went under contract in the past 30 days. This gives us a current absorption rate of 5.0 which is lower than last week's rate of 3.1. Of the 22 active listings, 11 are new homes from the builder(3 condos, 4 town homes, and 4 detached homes), 9 are traditional sales the remainder are distressed sales which break down as follows:

Short Sale Condos: 1
Short Sale Town Homes: 2
Short sale Detached Homes:
Total Short Sales: 3
Percent of Short Sales: 12%

Bank Owned Condos:
Bank Owned Town Homes: 1
Bank Owned Detached Homes: 1 * it is a corporate relo
Total Bank Owned: 2
Percent of Bank Owned: 8%

Total Non-Traditional Sales: 5
Percent of Total Non-Traditional Sales: 20%


NEW LISTINGSAccording to MLS, there are 2 new listings new to the market this week, 2 more than last week. Neither 0ne is a distressed sales.

Town Homes
Centex - Hampton, 24692 KINGS CANYON SQ, List Price: $334,995 DOMP: 3

Detached Homes
Van Metre - Harrington, 42046 PEPPERBUSH PL, List Price: $625,000 DOMP: 2

Contact me if you would like additional information on any of these Stone Ridge homes.

UNDER CONTRACTAccording to MLS, there are 1 home which went under contract during this period, 1 lessthan the amount as last week. Keep in mind not all contracts written for new home sales from the builder are reported to MLS.

Detached Homes
Centex - Spencer, 42045 BEAR TOOTH DR, List Price: $495,000 DOMP: 21(short sale)

This is the same amount of distressed sale as the previous week. The days on the market for the home was 21 days which is less than 1 month to receive an offer. This less than our current absorption rate of 5.0 for Stone Ridge, mentioned in the introduction.
SOLDAccording to MLS, there was no homes sold and went to record the period of 9/18/08 to 9/15/08 . Sometimes closings get delayed or the listing agent forgets to update the status in a timely matter. Additionally not all new home sales from the builder are reported to MLS.
SUMMARY
This past week there we saw 2 new listings come on the Stone Ridge Real Estate Market. There was also 1 home receiving a contract which it did in less than 1 month, when homes are being priced properly whether traditional sale or distressed sale buyers tend to make a quick decision. We have not had any homes go to record for the past few weeks, but with some homes receiving contracts we should start to see some sold data in the upcoming weeks. It is important to keep in mind not all the new home sales from the builder are reported to the mls so there are homes selling in Stone Ridge. DAR has updated their Market Statistics for Loudoun County for August 2008. August sold more homes in Loudoun County than July however the average price dropped. Additionally there was less inventory in Loudoun County in August than in July. Stone Ridge saw a lower sold price, 4 fewer sales but a 110 days shorter DOMP in August versus July. OIne thing point out all of August sales in Stone Ridge were town homes compared to July where there is a town home and detached home mix of homes sold. Also the following CMA's only include resales.

CMA for July Stone Ridge CMA for August Stone Ridge

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.