South Riding Real Estate Market Statistics – October 2008
November 15, 2008 by Danilo Bogdanovic
Filed under South Riding, Statistics
Here are the October 2008 statistics for the South Riding, Virginia real estate market. The statistics cover supply (new listings) and demand (solds).
The number of new listings in October '08 was higher than in September '08 and slightly lower than in October '07. This is not a good sign in the short-term and we'll have to see if this just temporary or turns into a trend.
The number of properties that sold (went under contract) in October '08 was lower than the previous month and the same as the previous year. This is not a good sign either and goes against what the rest of Loudoun County is doing, which is showing signs of improvement.
South Riding has one of the softest markets in Eastern Loudoun County making it tough for sellers, but good for buyers by giving them more room to negotiate.
Leesburg Real Estate Market Statistics – October 2008
November 15, 2008 by Danilo Bogdanovic
Filed under Leesburg, Statistics
Here are the October 2008 statistics for the Leesburg, Virginia real estate market. The statistics cover supply (new listings) and demand (solds). The statistics are broken down by the two Leesburg zip codes, 20175 and 20175.
Leesburg - 20175
The 20175 zip code includes areas such as Greenway Farm, Kincaid Forest, Woodlea Manor and Stratford…
The number of new listings in October '08 was slightly higher than in September '08, but slightly lower than in October '07. On a good-to-bad scale, it's about neutral.
The number of properties that sold (went under contract) in October '08 was slightly lower than the previous month, but was higher than the previous year. This is about neutral overall as well.
Leesburg – 20176
The 20176 zip code includes areas such as Potomac Station, Lansdowne, River Creek, Exeter and Sycamore Hill…
The number of new listings in October '08 was about the same as in September '08, but significantly lower than in October '07.
The number of properties that sold (went under contract) in October '08 was exactly the same as the previous month, but much higher than the previous year.
With new listings and buyer demand remaining the same as in the previous month, it's about neutral on the bad-to-good scale, but there has been a great improvement year-over-year.
Overall, the Leesburg real estate market is not showing as much of a September-to-October improvement as the Ashburn or Sterling real estate markets, it's continuing to show great year-over-year improvement.
Sterling Real Estate Market Statistics – October 2008
November 15, 2008 by Danilo Bogdanovic
Filed under Statistics, Sterling
Here are the October 2008 statistics for the Sterling, Virginia real estate market. The statistics cover supply (new listings) and demand (solds). I broke it down by the three Sterling zip codes, 20164, 20165 and 20166.
Sterling 20164
The 20164 zip code includes areas such as Sterling Park and Sugarland Run…
The number of new listings in October '08 was down about 20 percent from September '08 and down over 35 percent year-over-year. This is a great sign for the foreclosure-beaten-and-battered Sterling Park and Sugarland Run areas.
The number of properties that sold (went under contract) in October '08 was lower than the previous month, but was well over double that of the previous year. Though the year-over-year numbers are great, I hope that the down-tick in October buyer demand is only temporary.
Sterling 20165
The 20165 zip code includes areas such as Countryside, Potomac Lakes, Great Falls Chase and Lowes Island…
The number of new listings in October '08 was about 10 percent lower than September '08 and much lower than in October '07.
The number of properties that sold (went under contract) in October '08 was greater than the previous month as well as the previous year. These are exactly the type of statistics you want to see if you're looking for a real estate market to stabilize and rebound.
Sterling 20166
The 20166 zip code includes areas such as Dominion Station, Collonade at Dulles, Parkside at Dulles and Peace Plantation…
The number of new listings was higher in October '08 than in September '08, but lower than in October '07.
The number of properties that sold (went under contract) in October '08 was greater than the previous month as well as the previous year.
Though 20166 saw an increase in new listings, the increase in buyer demand more than made up for it. Overall, 20166 is showing continued improvement.
As a whole, the Sterling real estate market is showing a continued decrease in inventory and increasing buyer demand, both of which are necessary to stabilize a real estate market.
Ashburn Real Estate Market Statistics – October 2008
November 15, 2008 by Danilo Bogdanovic
Filed under Ashburn, Statistics
Here are the October 2008 statistics for the Ashburn, Virginia real estate market. The statistics cover supply (new listings) and demand (solds). To make it easier, I broke it down by the two Ashburn zip codes, 20147 and 20148.
Ashburn – 20147
The 20147 zip code includes areas such as Ashburn Farm, Ashburn Village, Belmont Country Club, Belmont Greene and Belmont Ridge…
The number of new listings in October '08 was slightly lower than in September '08 and significantly lower than in October '07. This shows that the trend of a diminishing inventory in Ashburn continues.
The number of properties that sold (went under contract) in October '08 was lower than the previous month, but was significantly higher than the previous year.
Ashburn – 20148
The 20148 zip code includes areas such as Loudoun Parkway Center, Broadlands and Brambleton…
The number of new listings in October '08 was slightly lower than in September '08 and significantly lower than in October '07. This also goes along with the trend of a diminishing inventory throughout Ashburn.
The number of properties that sold (went under contract) in October '08 was only half that of the previous month and lower than the previous year. This is not a good sign for the 20148 real estate market and I hope to see buyer demand increase this month and moving forward.
Overall, the Ashburn market is showing mixed signals. The 20147 zip code shows continuing of improvement while the 20148 zip code's low buyer demand is not a good sign.
Loudoun Real Estate Statistics – October 2008
November 14, 2008 by Danilo Bogdanovic
Filed under Buyer Resources, Seller Resources, Statistics
Here are the Loudoun County real estate market statistics for October 2008. The statistics cover supply (new listings) and demand (solds).
The number of new listings in October '08 was down slightly from September '08 and down 23 percent year-over-year. This is a great sign for the overall Loudoun County real estate market.
The number of properties that sold (went under contract) in October '08 was lower than the previous month, but was 33 percent higher than that of the previous year. Though the year-over-year numbers are great, I hope that the down-tick in October buyer demand is only temporary (more on that to come soon).
NOTE: I'll be posting hyper-local real estate market statistics broken down by town and zip code tomorrow (Saturday) so stop back by to check those out as well.
Loudoun’s Packin Heat!
November 14, 2008 by Danilo Bogdanovic
Filed under Statistics
Want to compare average housing prices within Loudoun County or between different counties throughout Virginia? Then check out Trulia.com's Heat Map for Virginia. You can compare average prices of various zip codes within the county or compare Loudoun County as a whole to other counties in Virginia such Prince William County, Stafford County, etc. This is a great resource for those moving to, from or within Virginia.
Here's the heat map for Loudoun County (click to enlarge):
One thing to note is that Trulia.com's Heat Maps feature is good for comparing the general difference in average sales prices of one area to another, but it's not necessarily an accurate source of current average sales prices. Why? Because some of the data is a bit outdated (and not by just a few months).
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Real Estate, Lending News Stories Worth Reading
November 13, 2008 by Danilo Bogdanovic
Filed under News
If you've been out of the loop lately, here are some of the top real estate, mortgage and financial headlines worth reading:
U.S. Mortgage Plan Falls Short
Citi To Modify $20 Billion In Home Loans
JPMorgan Chase Expands Housing Rescue Plan
Foreclosures Spike 25 Percent Year-On-Year
Countrywide Cancelling Short-Sales and Freezing Foreclosures
Foreclosure Freeze "Icing" Loudoun Real Estate Market
Obama and the Housing Market, Loudoun County and Beyond
November 12, 2008 by Danilo Bogdanovic
Filed under Current Affairs, Economics, News
Many homeowners are wondering how President-Elect Barack Obama will tackle the housing and credit markets and the affect of that on them personally. That's a question I don't have the exact answer to (nor does anyone really), but there's a good blog post about this topic by Jeremy Hart over at NRVLiving that talks about some of the things that Obama is planning on doing once he takes office.
Here's an exerpt:
"So what's an Obama administration mean to the housing market? Well, his website lays out a plan:
Protect Homeownership and Crack Down on Mortgage Fraud – Obama and Biden will crack down on fraudulent brokers and lenders. They will also make sure homebuyers have honest and complete information about their mortgage options, and they will give a tax credit to all middle-class homeowners.
- Create a Universal Mortgage Credit: Obama and Biden will create a 10 percent universal mortgage credit to provide homeowners who do not itemize tax relief. This credit will provide an average of $500 to 10 million homeowners, the majority of whom earn less than $50,000 per year.
- Ensure More Accountability in the Subprime Mortgage Industry: Obama has been closely monitoring the subprime mortgage situation for years, and introduced comprehensive legislation over a year ago to fight mortgage fraud and protect consumers against abusive lending practices. Obama's STOP FRAUD Act provides the first federal definition of mortgage fraud, increases funding for federal and state law enforcement programs, creates new criminal penalties for mortgage professionals found guilty of fraud, and requires industry insiders to report suspicious activity.
- Mandate Accurate Loan Disclosure: Obama and Biden will create a Homeowner Obligation Made Explicit (HOME) score, which will provide potential borrowers with a simplified, standardized borrower metric (similar to APR) for home mortgages. The HOME score will allow individuals to easily compare various mortgage products and understand the full cost of the loan.
- Close Bankruptcy Loophole for Mortgage Companies: Obama and Biden will work to eliminate the provision that prevents bankruptcy courts from modifying an individual's mortgage payments. They believe that the subprime mortgage industry, which has engaged in dangerous and sometimes unscrupulous business practices, should not be shielded by outdated federal law."
There's another post over at VARbuzz enitled, "How will the Obama Administration affect the real estate industry? Dr. Paul Light et. al. explain". It considers both the good and bad. Worth the read.
On a side note…There's a survey at VARbuzz that asks the question, "How will the election of Barack Obama affect the real estate economy". Take a moment to check out the survey and see what the results of the survery are so far. (It's at the top of the very right hand column of VARbuzz's home page)
Branding Taken To The Next Level…
November 10, 2008 by Danilo Bogdanovic
Filed under Humor
How To Find Out About The Best Real Estate Deals In Loudoun County
November 6, 2008 by Danilo Bogdanovic
Filed under Buyer Resources
Up until earlier this year, I was posting some of the best deals in Loudoun County here on this blog. Many of you emailed or called asking for more information about the properties or to see them in person. Well, unfortunately, I can no longer continue posting those. Based on rules and regulations, posting about a property that is listed by another agent/broker is considered "advertising" and is not allowed.
But, there is a solution! You can receive my top picks of properties for sale in Loudoun County via email. If you request the information to be sent to you, then it's no longer "advertising".
Here's how you do it…
Insert your email address and first name into the form below and then click "Submit". A thank you page will pop-up stating that you will receive a confirmation email shortly.
***You must click on the activation link in the confirmation email to start receiving future "best deal" emails. If you do not activate your email, you will not be included in the mailing list.
Please note…your email address, name or personal information will never be sold or provided to third parties. You will not receive any emails other than the best deals in Loudoun County. You will not be harrassed by sales emails or emails trying to solicit your business. It's completely up to you if/when you wish to initiate contact with me.
