About Frederick County, VA

Frederick county December 2007 trends

02-06-08

Beth Paisley

view my blog
Office: (540) 450-3208

Mobile: (540) 327-2813
Secondary: (540) 336-0641

Metropolitan Regional Information Systems, Inc. Real Estate Trend Indicator - <$30K to >$500K Format

Frederick County, VA
From: 12/01/2007 to 12/31/2007 Statistics generated on: 01/08/2008

Residential Unit Sales Number of Bedrooms				Active Listings		Time on Market
Price Class	2 Or Less	3	4 or More	Condo Coop and Ground Rent	Residential	Condo Coop and Ground Rent	of Units Sold (No. of Units)
Under $30,000	0	0	0	0	1	0	1 -30 Days	10
$30,000-$39,000	0	0	0	0	0	0	31-60 Days	8
$40,000-$49,999	0	0	0	0	1	0	61 - 90 Days	3
$50,000-$59,999	0	0	0	0	0	0	91-120 Days	4
$60,000-$69,999	0	0	0	0	0	0	Over 120 Days	36
$70,000-$79,999	0	0	0	0	0	0	Total	61
$80,000-$89,999	1	0	0	0	1	0
$90,000-$99,999	0	0	0	0	2	0	Type of Financing of Units Sold (No. of Units)
$100,000-$119,999	0	0	0	0	4	0	Type of Financing of Units Sold (No. of Units)
$120,000-$139,999	0	0	0	0	9	2	Conventional	42
$140,000-$159,999	2	2	0	1	30	8	FHA	4
$160,000-$179,999	0	1	0	0	48	0	VA	1
$180,000-$199,999	0	5	2	0	84	0	Assumption	4
$200,000-$249,999	0	7	7	0	177	1	Cash	7
$250,000-$299,999	0	2	6	0	204	2	Owner Finance	0
$300,000-$399,999	0	6	6	1	264	0	All Other	3
$400,000-$499,999	0	3	8	0	116	0	Unreported	0
Over $500,000	0	0	1	0	99	0	Total	61
Totals	3	26	30	2	1040	13
Grand Totals	61				1053

2007	2006	% Change
Total Sold Dollar Volume:	$ 17,651,012	$ 27,580,169	- 36.00 %
Average Sold Price:	$ 289,361	$ 313,411	- 7.67 %
Median Sold Price:	$ 258,000	$ 294,838	- 12.49 %
Total Units Sold:	61	88	- 30.68 %
Average Days on Market:	182	109	66.97 %
Average List Price for Solds:	$ 328,124	$ 338,500	- 3.07 %
Avg Sale Price as a percentage of Avg List Price:	88.19 %	92.59 %

Total Number of NEW listings
taken for the month:	125
Total Number of Properties
marked Contract for the month:	43
Total Number of Properties
marked Contingent for the month:	13
Total Number of NEW pendings
(CONTRACTS + CONTINGENTS):	56

Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2008 - Information deemed reliable, but is not guaranteed.

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Federal Transit Administration will not approve the existing design for the Dulles Rail Project

02-06-08

Beth Paisley

view my blog
Office: (540) 450-3208

Mobile: (540) 327-2813
Secondary: (540) 336-0641

Things aren't looking good for the plans to bring Metro out to Dulles. The design process was in its final stages, but this latest decision could be the unexpected nail in the coffin. Until a few days ago, the FTA had given no indication that it was considering withholding its funding.

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Foreclosures have huge impact on CMAs

02-05-08

Beth Paisley

view my blog
Office: (540) 450-3208

Mobile: (540) 327-2813
Secondary: (540) 336-0641

When meeting with my potential sellers, I have to used comparable foreclosures or short sale listings when performing a comparative market analysis. For one, like it or not, these homes are my sellers' competition. By showing these foreclosure properties, my sellers learn a very valuable lesson in pricing the property at market value and will most likely not overprice the properties.

Foreclosures have had a huge impact on the CMAs in some neighborhoods, I always try to run one CMA with the foreclosures included and one without to review with my clients.

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