New Homes Open This Weekend!

 

 

As Blondie used to sing….”dreaming is free“…. (actually – they still sing it – you can see Blondie at Wolftrap next week).

Feel free to dream by stopping by one of our Belt Team open houses this weekend! These new homes from Sekas are gorgeous! Come and see us on Saturday, August 1st from Noon to 5PM or Sunday, August 2nd from Noon to 5PM at Francis Young Estates.

Francis Young Estates – Prices start at $1,219,900 .

15 gorgeous new homes on two cul-de-sacs in the Madison High School District! Homes are Energy Star Certified and built by master builder Sekas Homes. Ten homes are sold and five opportunities remain!

Directions: From Route 123 in Vienna, North on Beulah Rd about 3/4 mile to new cul-de-sac on left just past State Street.

Contact The Belt Team directly at (703) 242-3975  if you have questions about pricing, features, floorplans, options, etc…

The Belt Team . . . Serving all of your real estate needs in Vienna, Oakton, McLean, Great Falls, Arlington, Reston, Fairfax and the entire Northern Virginia Region! Contact us today for a FREE home valuation or buyer counseling session!

Weekly Market Update

    

The song remains the same as 2009 marches on: heavy sales, weak new listings, dwindling inventory of available homes.

• For the week ending July 18 there were 2,736 signed purchase agreements, up 25.7 percent over the same week last year. 
    
• Over the last three months there have been almost 7,000 more pending sales than there were during the same period in 2008. 
   
• Sales are the heaviest in the lower price ranges but remain lethargic in the upper brackets.
   
• The number of homes currently available is a full 30.5 percent behind this time last year—a drop of more than 16,000. Prospective buyers who believe they can wait for more inventory to appear may regret it.

(Report above is from MRIS’ Weekly Market Activity Report Dated July 27, 2009) 

Note: Whether we are in a Buyers Market or Sellers Market can vary wildly from town-to-town, neighborhood-to-neighborhood, and price range-to-price range. If you’d like more detailed information about your neighborhood – what homes are selling for, what the inventory is, what your home may be worth, etc – just give us a call at (703) 242-3975.

Open Houses This Weekend

          

Where can you find Belt Team open houses this weekend?

~ Saturday, July 25th from Noon to 5PM at Francis Young Estates

~ Sunday, July 26th from 1PM to 4PM at 2406 Strkyer Avenue

~ Sunday, July 26th from Noon to 5PM at Francis Young Estates

2406 Stryker Avenue in Vienna – $1,139,000

Delightful colonial in sought after cul-de-sac neighborhood. Dramatic 2 story foyer with curved staircase, family room with gas fireplace opens to the spacious kitchen & breakfast area & opens to a large deck, wonderful master suite with sitting room and 20×20 bath, finished lower level with huge rec room/game room, wet bar, 5th bedroom & 4th full bath! Madison HS pyramid!

Directions: From Vienna Metro: Exit Nutley Street to Vienna, left on Maple Ave/Rt 123, right Flint Hill Road, left Vale Rd, left Stryker Ave to #2406.

Francis Young Estates – Prices start at $1,219,900 .

15 gorgeous new homes on two cul-de-sacs in the Madison High School District! Homes are Energy Star Certified and built by master builder Sekas Homes. Ten homes are sold and five opportunities remain!

Directions: From Route 123 in Vienna, North on Beulah Rd about 3/4 mile to new cul-de-sac on left just past State Street.

Contact The Belt Team directly at (703) 242-3975  if you have questions about pricing, features, floorplans, options, etc…

The Belt Team . . . Serving all of your real estate needs in Vienna, Oakton, McLean, Great Falls, Arlington, Reston, Fairfax and the entire Northern Virginia Region! Contact us today for a FREE home valuation or buyer counseling session!

Weekly Market Overview

As we head full on into the summer market, are you wondering what’s happening in real estate in our area? If so – check out the weekly market snapshot below – brought to you from The Belt Team via MRIS reporting:

“Home sales activity in the MRIS region remains extremely robust as low mortgage rates, affordable inventory and the $8,000 federal tax credit for first time home buyers are all working in concert to create an environment attractive to buyers.

For the week ending July 11 there were 2,649 signed purchase agreements, up 29.2 percent over the same week last year.

Over the last three months there have been almost 7,000 more pending sales than there were during the same period in 2008.

New listings are a different story, as sellers hold back. For the week ending July 11 there were 4,106 new listings, down 13.3 percent from the same week last year. Over the last three months there have been over 10,000 fewer new listings than there were during the same period in 2008.“ 

WOW! Stay tuned – we’ll keep you posted!

Note: Whether we are in a Buyers Market or Sellers Market can vary wildly from town-to-town, neighborhood-to-neighborhood, and price range-to-price range. If you’d like more detailed information about your neighborhood – what homes are selling for, what the inventory is, what your home may be worth, etc – just give us a call at (703) 242-3975.
 

For The Engineers In Our Reading Audience . . . Here's What Happened in Vienna Oakton Real Estate in June

For the engineers in our reading audience . . . here’s a DETAILED look at what happened in Vienna Oakton Real Estate in June:

Metropolitan Regional Information Systems, Inc.   ZIP Code Statistics – <$100K to >$5M Format
ZIP Code: 22181 Vienna, VA
From: 06/01/2009 to 06/30/2009                Statistics generated on: 07/08/2009

	Residential Unit Sales Number of Bedrooms					Active Listings				Time on Market
Price Class	2 Or Less	3	4   or More	Condo Coop	Ground Rent	Residential	Condo Coop	Ground Rent		of Units Sold (No. of Units)
Under $100,000	0	0	0	0	0	0	0	0		1 -30 Days	16
$100,000 – 149,999	0	0	0	0	0	0	0	0		31-60 Days	0
$150,000 – 199,999	0	0	0	0	0	0	1	0		61 – 90 Days	5
$200,000 – 249,999	0	0	0	1	0	0	4	0		91-120 Days	0
$250,000 – 299,999	0	0	0	0	0	2	1	0		Over 120 Days	3
$300,000 – 349,999	0	2	1	1	0	2	4	0		Total	24
$350,000 – 399,999	0	0	0	1	0	1	3	0
$400,000 – 449,999	0	0	0	0	0	2	0	0		Type of Financing of Units Sold (No. of Units)
$450,000 – 499,999	0	2	2	0	0	4	0	0
$500,000 – 599,999	0	2	1	0	0	8	0	0		Conventional	15
$600,000 – 699,999	0	2	3	0	0	10	0	0		FHA	7
$700,000 – 799,999	0	0	2	0	0	6	0	0		VA	0
$800,000 – 899,999	0	0	1	0	0	9	0	0		Assumption	0
$900,000 – 999,999	0	0	2	0	0	2	0	0		Cash	2
$1,000,000 – 2,499,999	0	0	1	0	0	22	0	0		Owner Finance	0
$2,500,000 – 4,999,999	0	0	0	0	0	1	0	0		All Other	0
$5,000,000 & Over	0	0	0	0	0	0	0	0		Unreported	0
Totals	0	8	13	3	0	69	13	0		Total	24
Grand Totals	24					82

2009    2008    % Change Total Sold Dollar Volume: $ 13,889,900 $ 14,937,300 – 7.01 % Average Sold Price: $ 578,746 $ 649,448 – 10.89 % Median Sold Price: $ 551,000 $ 625,000 – 11.84 % Total Units Sold: 24 23 4.35 % Average Days on Market: 74 76 – 2.63 % Average List Price for Solds: $ 607,009 $ 691,377 – 12.20 % Avg Sale Price as a percentage of Avg List Price: 95.34 % 93.94 %

Total NEW listings: 35 Total Properties Marked Contract: 14 Total Properties Marked Contingent Contract: 9 Total NEW pendings (Contracts + Contingents): 23

Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data
Copyright 2009 – Information deemed reliable, but is not guaranteed.

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Metropolitan Regional Information Systems, Inc.   ZIP Code Statistics – <$100K to >$5M Format

ZIP Code: 22180 Vienna, VA
From: 06/01/2009 to 06/30/2009                Statistics generated on: 07/08/2009

	Residential Unit Sales Number of Bedrooms					Active Listings				Time on Market
Price Class	2 Or Less	3	4   or More	Condo Coop	Ground Rent	Residential	Condo Coop	Ground Rent		of Units Sold (No. of Units)
Under $100,000	0	0	0	0	0	0	0	0		1 -30 Days	21
$100,000 – 149,999	0	0	0	0	0	0	0	0		31-60 Days	4
$150,000 – 199,999	0	0	0	2	0	0	1	0		61 – 90 Days	3
$200,000 – 249,999	0	0	0	2	0	0	4	0		91-120 Days	1
$250,000 – 299,999	0	1	0	1	0	1	4	0		Over 120 Days	13
$300,000 – 349,999	0	0	1	2	0	2	3	0		Total	42
$350,000 – 399,999	1	0	0	1	0	5	6	0
$400,000 – 449,999	0	3	3	0	0	13	0	0		Type of Financing of Units Sold (No. of Units)
$450,000 – 499,999	0	2	2	0	0	10	0	0
$500,000 – 599,999	0	3	7	0	0	17	0	0		Conventional	32
$600,000 – 699,999	0	2	3	0	0	8	0	0		FHA	5
$700,000 – 799,999	0	0	0	0	0	3	0	0		VA	2
$800,000 – 899,999	0	0	2	0	0	6	0	0		Assumption	1
$900,000 – 999,999	0	0	1	0	0	3	0	0		Cash	2
$1,000,000 – 2,499,999	0	0	3	0	0	38	0	0		Owner Finance	0
$2,500,000 – 4,999,999	0	0	0	0	0	0	0	0		All Other	0
$5,000,000 & Over	0	0	0	0	0	0	0	0		Unreported	0
Totals	1	11	22	8	0	106	18	0		Total	42
Grand Totals	42					124

2009    2008    % Change Total Sold Dollar Volume: $ 22,861,000 $ 23,795,872 – 3.93 % Average Sold Price: $ 544,310 $ 643,132 – 15.37 % Median Sold Price: $ 493,000 $ 554,000 – 11.01 % Total Units Sold: 42 37 13.51 % Average Days on Market: 80 64 25.00 % Average List Price for Solds: $ 570,582 $ 686,072 – 16.83 % Avg Sale Price as a percentage of Avg List Price: 95.40 % 93.74 %

Total NEW listings: 37 Total Properties Marked Contract: 27 Total Properties Marked Contingent Contract: 26 Total NEW pendings (Contracts + Contingents): 53

Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data
Copyright 2009 – Information deemed reliable, but is not guaranteed.

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Metropolitan Regional Information Systems, Inc.   ZIP Code Statistics – <$100K to >$5M Format

ZIP Code: 22182 Vienna, VA
From: 06/01/2009 to 06/30/2009                Statistics generated on: 07/08/2009

	Residential Unit Sales Number of Bedrooms					Active Listings				Time on Market
Price Class	2 Or Less	3	4   or More	Condo Coop	Ground Rent	Residential	Condo Coop	Ground Rent		of Units Sold (No. of Units)
Under $100,000	0	0	0	0	0	0	0	0		1 -30 Days	8
$100,000 – 149,999	0	0	0	0	0	0	0	0		31-60 Days	6
$150,000 – 199,999	0	0	0	0	0	0	0	0		61 – 90 Days	2
$200,000 – 249,999	0	0	0	0	0	0	0	0		91-120 Days	1
$250,000 – 299,999	0	0	0	0	0	0	0	0		Over 120 Days	13
$300,000 – 349,999	0	0	0	0	0	1	1	0		Total	30
$350,000 – 399,999	0	0	0	0	0	1	3	0
$400,000 – 449,999	0	1	0	0	0	1	0	0		Type of Financing of Units Sold (No. of Units)
$450,000 – 499,999	0	0	0	0	0	2	0	0
$500,000 – 599,999	0	4	5	0	0	14	0	0		Conventional	17
$600,000 – 699,999	0	1	7	0	0	33	0	0		FHA	5
$700,000 – 799,999	0	0	3	0	0	14	0	0		VA	2
$800,000 – 899,999	0	0	0	0	0	16	0	0		Assumption	4
$900,000 – 999,999	0	0	3	0	0	8	0	0		Cash	2
$1,000,000 – 2,499,999	0	0	6	0	0	56	0	0		Owner Finance	0
$2,500,000 – 4,999,999	0	0	0	0	0	0	0	0		All Other	0
$5,000,000 & Over	0	0	0	0	0	0	0	0		Unreported	0
Totals	0	6	24	0	0	146	4	0		Total	30
Grand Totals	30					150

2009    2008    % Change Total Sold Dollar Volume: $ 22,332,440 $ 27,543,600 – 18.92 % Average Sold Price: $ 744,415 $ 765,100 – 2.70 % Median Sold Price: $ 654,950 $ 745,000 – 12.09 % Total Units Sold: 30 36 – 16.67 % Average Days on Market: 145 88 64.77 % Average List Price for Solds: $ 817,445 $ 805,367 1.50 % Avg Sale Price as a percentage of Avg List Price: 91.07 % 95.00 %

Total NEW listings: 44 Total Properties Marked Contract: 11 Total Properties Marked Contingent Contract: 14 Total NEW pendings (Contracts + Contingents): 25

Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data
Copyright 2009 – Information deemed reliable, but is not guaranteed.

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Metropolitan Regional Information Systems, Inc.   ZIP Code Statistics – <$100K to >$5M Format

ZIP Code: 22124 Oakton, VA
From: 06/01/2009 to 06/30/2009                Statistics generated on: 07/08/2009

	Residential Unit Sales Number of Bedrooms					Active Listings				Time on Market
Price Class	2 Or Less	3	4   or More	Condo Coop	Ground Rent	Residential	Condo Coop	Ground Rent		of Units Sold (No. of Units)
Under $100,000	0	0	0	0	0	0	0	0		1 -30 Days	9
$100,000 – 149,999	0	0	0	0	0	0	0	0		31-60 Days	7
$150,000 – 199,999	0	0	0	0	0	0	3	0		61 – 90 Days	2
$200,000 – 249,999	0	0	0	0	0	1	10	0		91-120 Days	4
$250,000 – 299,999	0	0	0	3	0	1	0	0		Over 120 Days	10
$300,000 – 349,999	0	1	0	1	0	2	4	0		Total	32
$350,000 – 399,999	0	2	0	0	0	4	2	0
$400,000 – 449,999	1	1	1	0	0	7	0	0		Type of Financing of Units Sold (No. of Units)
$450,000 – 499,999	0	2	1	0	0	4	0	0
$500,000 – 599,999	0	1	2	0	0	5	0	0		Conventional	24
$600,000 – 699,999	0	0	4	0	0	10	0	0		FHA	6
$700,000 – 799,999	0	0	5	0	0	7	0	0		VA	0
$800,000 – 899,999	0	0	1	0	0	7	0	0		Assumption	0
$900,000 – 999,999	0	0	1	0	0	6	0	0		Cash	2
$1,000,000 – 2,499,999	0	0	4	1	0	29	0	0		Owner Finance	0
$2,500,000 – 4,999,999	0	0	0	0	0	3	0	0		All Other	0
$5,000,000 & Over	0	0	0	0	0	1	0	0		Unreported	0
Totals	1	7	19	5	0	87	19	0		Total	32
Grand Totals	32					106

2009    2008    % Change Total Sold Dollar Volume: $ 21,509,665 $ 14,464,800 48.70 % Average Sold Price: $ 672,177 $ 761,305 – 11.71 % Median Sold Price: $ 603,500 $ 720,000 – 16.18 % Total Units Sold: 32 19 68.42 % Average Days on Market: 106 84 26.19 % Average List Price for Solds: $ 758,246 $ 827,566 – 8.38 % Avg Sale Price as a percentage of Avg List Price: 88.65 % 91.99 %

Total NEW listings: 28 Total Properties Marked Contract: 12 Total Properties Marked Contingent Contract: 11 Total NEW pendings (Contracts + Contingents): 23

Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data
Copyright 2009 – Information deemed reliable, but is not guaranteed.

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Open Houses This Weekend in Vienna and Oakton

          

Where can you find Belt Team open houses this weekend?

~ Saturday, July 11th from Noon to 5PM at Francis Young Estates in Vienna

~ Sunday, July 12th from 1PM to 4PM at 9965 Cyrandall Drive in Oakton 

~ Sunday, July 12th from Noon to 5PM at Francis Young Estates in Vienna

~ Sunday, July 12th from 2PM to 5PM at 2727 Manhattan Place in Vienna

9965 Cyrandall Drive in Oakton – $639,000

Fabulous end unit garage townhome with bump-outs & extra windows on all 3 levels! Vaulted ceiling master bedroom with sitting area & luxurious master bath, gourmet kitchen, fully finished walkout lower level with rec room, 4th bedroom & 3rd full bath. Great location close to Vienna Metro!

Directions: Route 66 to Route 123 North toward Vienna, Right on Jermantown Rd (turns into Blake Lane), Right on Cyrandall Valley Rd, Right on Cyrandall Drive to #9965.

2727 Manhattan Place in Vienna – $549,000

Enjoy hardwood floors and 9 foot ceilings on the main level, three bedrooms, three and a half baths, two car garage. Fabulous location – right across the street from the Dunn Loring Metro! And walking distance to the almost completed “Merrifield Town Center”.

Directions: From Lee Highway: North on Gallows Rd, Right on Park Tower (across from Dunn Loring Metro). The home is on the right on what still seems like Park Tower, but is Manahattan. OR: Take the Beltway to Route 50 West, Right on Gallows Rd, through Merrifield, Right on Park Tower to 2727 Manhattan Place.

Francis Young Estates – Prices start at $1,219,900 .

15 gorgeous new homes on two cul-de-sacs in the Madison High School District! Homes are Energy Star Certified and built by master builder Sekas Homes.

Directions: From Route 123 in Vienna, North on Beulah Rd about 3/4 mile to new cul-de-sac on left just past State Street.

Contact The Belt Team directly at (703) 242-3975  if you have questions about pricing, features, floorplans, options, etc…

The Belt Team . . . Serving all of your real estate needs in Vienna, Oakton, McLean, Great Falls, Arlington, Reston, Fairfax and the entire Northern Virginia Region! Contact us today for a FREE home valuation or buyer counseling session!

What Sold in Vienna and Oakton in June?

Hope you had a Happy Fourth and are enjoying the beautiful weather we are having!

It’s time to report the June statistics for Vienna Oakton real estate.

VIENNA:                                          June 09             June 08

# New Listings                                   113                       135                              
# Under Contract                               101                        87
# Sold/Settled                                      93                        98

Average Days on Market
for June Solds                                   100 days               73 days   
Highest Price Sale                            $1,550,000            $1,673,000

OAKTON:                                        June 09               June 08

# New Listings                                     28                         37
# Under Contract                                24                         33
# Sold/Settled                                     32                          21  

Average Days on Market
for June Solds                                   106 days                120 days   
Highest Price Sale                            $1,610,000            $1,450,000

What Sold (ie- went to settlement) in Oakton in June 2009?

Under $500,000:

10117 Oakton Terrace Rd – $250,00 (less a $7,500 subsidy = $242,500 Net)
2817 Jermantown Rd #206 – $255,500 (less a $5,500 subsidy = $250,000 Net)
10300 Bushman Dr #206 – $262,500 (less a $7,875 subsidy = $254,625 Net)
10256 Cherry Walk Ct – $300,000 (less a $9,000 subsidy = $291,000 Net)
2817 Jermantown Rd #104 – $315,000 (less a $3,500 subsidy = $311,500 Net)
2820 Jermantown Rd #A – $359,715 (no subsidy)
2952 Oakleigh Ln – $380,000 (less a $4,924 subsidy = $375,076 Net)
3152 Borge St – $418,000 (less a $5,000 subsidy = $413,000 Net)
3124 Valentino Ct – $425,000 (less a $5,000 subsidy = $420,000 Net)
10163 Turnberry Pl – $448,000 (less a $10,000 subsidy = $438,000 Net)
10196 Turnberry Pl – $469,000 (no subsidy)
10140 Turnberry Pl – $485,000 (less a $8,000 subsidy = $477,000 Net)
10165 Turnberry Pl – $494,900 (less a $10,000 subsidy = $484,900 Net)

$500,000 to $775,000:

2984 Wilson Ave – $528,050 (no subsidy)
11709 Vale Rd – $543,000 (less a $1,900 subsidy = $541,100 Net)
3107 Cobb Hill Ln – $572,000 (less a $3,500 subsidy = $568,500 Net)
10401 Hunter Ridge Dr – $635,000 (no subsidy)
2812 Bree Hill Rd – $650,000 (less a $3,000 subsidy = $647,000 Net)
3005 Miller Heights Rd – $650,000 (less a $3,000 subsidy = $647,000 Net)
3122 Cobb Hill Ln – $685,000 (less a $5,000 subsidy = $680,000 Net)
3775 Penderwood Dr – $710,000 (no subsidy)
3210 Miller Heights Rd – $719,000 (no subsidy)
11256 Waples Mill Rd – $720,000 (no subsidy)

$775,000 to $999,000:

3091 Chipnowak Ct – $782,000 (no subsidy)
3131 Trenholm Dr – $785,000 (less a $3,250 subsidy = $781,750 Net)
2894 Melanie Ln – $800,000 (less a $1,000 subsidy = $799,000 Net)
3276 History Dr – $980,000 (no subsidy)

$1,000,000 and up:

10208 Castlewood Ln – $1,030,000 (less a $250 subsidy = $1,029,750 Net)
2853 Hunts Mill Ct – $1,298,000 (no subsidy)
12033 Hamden Ct – $1,450,000 (no subsidy)
11306 Walnut Creek Ct – $1,500,000 (no subsidy)
3524 St Augustine Ln – $1,610,000 (no subsidy)   

What Sold (ie- went to settlement) in Vienna in May 2009?

Under $500,000:

2726 Gallows Rd #1402 – $165,000 (less a $5,000 subsidy = $160,000 Net)
210 Park Terrace Ct #65 – $194,000 (less a $3,000 subsidy = $191,000 Net)
2588 Glengyle Dr #135 – $200,000 (less a $5,000 subsidy = $195,000 Net)
2726 Gallows Rd #1403 – $212,000 (less a $6,360 subsidy = $205,640 Net)
2726 Gallows Rd #1109 – $230,000 (less a $6,900 subsidy = $223,100 Net)
2726 Gallows Rd #1009 – $250,000 (no subsidy)
2770 Stone Hollow Dr – $295,000 (less a $3,000 subsidy = $292,000 Net)
2711 Belleforest Ct #308 – $310,000 (no subsidy)
2808 Lafora Ct – $328,000 (less a $4,000 subsidy = $324,000 Net)
306A Locust St SE – $342,000 (less a $10,260 subsidy = $331,740 Net)
9490 Virginia Center Blvd #130 – $335,000 (no subsidy)
3065 Sugar Ln – $338,000 (no subsidy)(BELT TEAM LISTING)
2946 Cashel Ln – $346,000 (less a $3,000 subsidy = $343,000 Net)
3068 Sugar Ln – $345,000 (no subsidy)
9490 Virginia Center Blvd #135 – $350,000 (no subsidy)
2711 Belleforest Ct #409 – $362,000 (less a $5,000 subsidy = $357,000 Net)
710 Meadow Ln SW – $395,000 (less a $3,000 subsidy = $392,000 Net)
616 Truman Cir SW – $415,000 (less a $2,500 subsidy = $412,500 Net)
311 Center St N – $420,000 (less a $5,000 subsidy = $415,000 Net)
609 Alma St SE – $433,000 (less a $12,990 subsidy = $420,010 Net)
1012 Frederick St SW –  $435,000 (less a 13,050 subsidy = $421,950 Net)
502 Orrin St SE – $425,000 (less a $2,940 subsidy = $422,060 Net)
2322 Wheystone Ct – $427,500 (less a $3,000 subsidy = $424,500 Net)
2824 Lafora Ct – $445,000 (no subsidy)
204 Oak St SW – $455,000 (less a $7,500 subsidy = $447,500 Net)
410 Nutley St SW – $450,000 (no subsidy)
807 Cottage St SW – $465,000 (less a $2,000 subsidy = $463,000 Net)
2703 Curzon Ct – $472,400 (no subsidy)
2866 Sutton Oaks Ln – $489,000 (less a $14,670 subsidy= $474,330 Net)
2894 Sutton Oaks Ln – $480,000 (less a $5,000 subsidy = $475,000 Net)
415 Holmes Dr NW – $480,000 (no subsidy)
2819 Kelly Sq – $487,500 (no subsidy)
2818 Kelly Sq – $505,000 (less a $7,430 subsidy = $497,570 Net)

$500,000 to $775,000:

2437 Shenandoah St – $515,000 (less a $10,000 subsidy = $505,000 Net)
200 Moore Ave SE – $506,000 (no subsidy)
9723 Cinnamon Creek Dr – $513,000 (no subsidy)
9512 Percussion Way – $515,000 (less a $920 subsidy = $514,080 Net)
2805 Roesh Way – $517,000 (no subsidy)
805 Meadow Ln SW – $525,000 (less a $7,500 subsidy = $517,500 Net)
10403 Silk Oak Dr – $521,000 (no subsidy)
1805 St Roman Dr – $530,000 (no subsidy) BELT TEAM LISTING!
2012 Pieris Ct – $536,000 (no subsidy)
8708 Litwalton Ct – $565,000 (less a $10,000 subsidy = $555,000 Net)
8001 Trevor Pl – $568,000 (less a $5,750 subsidy = $562,250 Net)
103 Follin Ln SE – $575,000 (less a $6,000 subsidy = $569,000 Net)
9900 Woodrow St – $585,000 (less a $11,817 subsidy = $573,183 Net)
707 MacArthur Ave NE – $580,000 (no subsidy) BELT TEAM LISTING!
551 Creek Crossing Rd – $590,000 (less a $8,917 subsidy = $581,083 Net)
100 Mashie Dr SE – $585,000 (less a $3,000 subsidy = $582,000 Net)
8233 Citadel Pl – $600,000 (less a $16,500 subsidy = $583,500 Net)
607 Kearney Ct SW – $585,000 (no subsidy)
417 Glyndon St SE – $590,000 (no subsidy)
9019 Streamview Ln – $599,000 (less a $2,400 subsidy = $596,600 Net)
10505 Cowberry Cy – $610,000 (less a $7,745 subsidy= $602,255 Net)
2016 Gunnell Farms Dr – $609,000 (less a $1,500 subsidy = $607,500 Net)
2712 Earls Ct – $617,000 (no subsidy)
9911 Oak Branch Dr – $630,000 (less a $10,520 subsidy = $619,480 Net)
2711 Manhattan Pl – $620,000 (no subsidy)
1847 Clovermeadow Dr – $625,000 (no subsidy)
8025 Kidwell Hill Ct NE – $625,000 (no subsidy)
541 Druid Hill Rd NE – $640,000 (less a $13,500 subsidy = $626,500 Net)
2708 Earls Ct – $635,000 (less a $1,500 subsidy = $633,500 Net)
1857 Abbotsford Dr – $645,000 (less a $10,000 subsidy = $635,000 Net)
1017 Tapawingo Rd SW – $639,000 (no subsidy)
1344 Stokley Way – $660,000 (no subsidy)
301 Old Courthouse Rd NE – $667,000 (no subsidy)
8589 Coral Gables Ln – $685,000 (less a $12,780 subsidy = $672,220 Net)
10107 Tamarack Dr – $695,000 (less a $13,500 subsidy = $681,500 Net)
10110 Nadine Dr – $699,000 (no subsidy)
2733 Sutton Rd – $710,000 (no subsidy)
2585 Plum Tree Ct – $730,000 (less a $15,000 subsidy = $715,000 Net)
1800 Brentridge St – $725,000 (no subsidy)
2211 Frank St – $750,000 (less a $15,000 subsidy = $735,000 Net)
9319 Sibelius Dr – $740,000 (no subsidy)

$775,000 to $999,000:

405 East St NE – $830,000 (no subsidy)
208 Ceret Ct SE – $831,000 (no subsidy) BELT TEAM LISTING!
2631 Babcock Rd – $850,000 (less a $17,000 subsidy = $833,000 Net)
2004 Byrd Rd – $900,000 (less a $7,500 subsidy = $892,500 Net)
9600 Clarks Crossing Rd – $907,000 (no subsidy)
2780 Cody Rd – $915,000 (no subsidy)
304 Ainstree Ct NE – $925,000 (less a $1,750 subsidy = $923,250 Net)
9512 Bent Creek Ln – $962,000 (no subsidy)
8417 Falcone Point Way – $1,005,450 (less a $29,924 subsidy = $975,526 Net)
2778 Cody Rd – $995,000 (less a $15,000 subsidy = $980,000 Net)

$1,000,000 and up:

8815 Jarrett Valley Dr – $1,019,950 (no subsidy)
9864 Palace Green Way – $1,050,000 (no subsidy)
1753 Proffitt Rd – $1,150,000 (less a $20,000 subsidy = $1,130,000 Net)
914 Plum St Sw – $1,150,000 (no subsidy)
9005 Lupine Den Dr – $1,200,000 (less a $10,400 subsidy = $1,189,600 Net)
1835 Beulah Rd – $1,205,000 (no subsidy)
9514 Francis Young Lane – $1,243,640 (no subsidy) BELT TEAM LISTING!
503 Mashie Dr SE – $1,332,000 (no subsidy) BELT TEAM SALE!
108 Kingsley Rd SE – $1,550,000 (no subsidy)

For more information on any of these sales (or if you would like information on other areas such as Great Falls, McLean, Reston, etc…), or if you are thinking of buying or selling a home, please contact The Belt Team at (703) 242-3975. The Belt Team has sold more homes in Vienna Oakton than any other Realtor since 1972. It would be our pleasure to help make your real estate dreams come true!

Weekly Market Overview

Here is what MRIS reported yesterday:

For the 21st consecutive week in the MRIS region there were more pending sales this year than there were during the same week the year prior. Low mortgage rates, affordable inventory and the $8,000 federal tax credit for first time home buyers are all working in concert to create an environment conducive to heavy buyer activity. For the week ending June 27 there were 31.7 percent more pending sales than there were last year.

Heavy sales means heavy absorption of the homes available. Compared to one year ago there is 29.5 percent fewer homes for sale in the region, a drop of over 15,000 units.

Average Days on Market: Still higher than at this time in 2007, but lower than at this time last year.

Average Days on Market – May 2007: 87

Average Days on Market – May 2008: 112

Average Days on Market – May 2009: 108

Percent of List Price Received At Sale: Lower than in 2007, but close to this time last year

Percent of List Price Received At Sale – May 2007: 96.0%

Percent of List Price Received At Sale – May 2008: 92.4%

Percent of List Price Received At Sale – May 2009: 92.1%

Housing Affordability Index: Truly affordable, in fact historically affordable!

The Housing Affordability Index measures housing affordability for the MRIS service
region. The higher the number, the more affordable our housing is. An HAI of 120 would mean that the median household income was 120% of the necessary income to qualify for the median priced home under prevailing interest rates.

Housing Affordability Index – May 2007: 103

Housing Affordability Index – May 2008: 116

Housing Affordability Index – May 2009: 123

 

Months Supply of Inventory: Heading back to a balanced market (5-6 months supply of inventory)

Months Supply of Inventory – May 2007: 7.5 months

Months Supply of Inventory – May 2008: 10.5 months

Months Supply of Inventory – May 2009: 7.3 months

 

Note: Whether we are in a Buyers Market or Sellers Market can vary wildly from town-to-town, neighborhood-to-neighborhood, and price range-to-price range. If you’d like more detailed information about your neighborhood – what homes are selling for, what the inventory is, what your home may be worth, etc – just give us a call at (703) 242-3975.

 

Open The Door to a New Home!

          

Where can you find Belt Team open houses this weekend?

~ Sunday, July 5th from Noon to 5PM at Francis Young Estates in Vienna

~ Sunday, July 5th from 2PM to 5PM at 2727 Manhattan Place in Vienna

2727 Manhattan Place in Vienna – $549,000

Enjoy hardwood floors and 9 foot ceilings on the main level, three bedrooms, three and a half baths, two car garage. Fabulous location – right across the street from the Dunn Loring Metro! And walking distance to the almost completed “Merrifield Town Center”.

Directions: From Lee Highway: North on Gallows Rd, Right on Park Tower (across from Dunn Loring Metro). The home is on the right on what still seems like Park Tower, but is Manahattan. OR: Take the Beltway to Route 50 West, Right on Gallows Rd, through Merrifield, Right on Park Tower to 2727 Manhattan Place.

Francis Young Estates – Prices start at $1,219,900 .

15 gorgeous new homes on two cul-de-sacs in the Madison High School District! Homes are Energy Star Certified and built by master builder Sekas Homes.

Directions: From Route 123 in Vienna, North on Beulah Rd about 3/4 mile to new cul-de-sac on left just past State Street.

Contact The Belt Team directly at (703) 242-3975  if you have questions about pricing, features, floorplans, options, etc…

The Belt Team . . . Serving all of your real estate needs in Vienna, Oakton, McLean, Great Falls, Arlington, Reston, Fairfax and the entire Northern Virginia Region! Contact us today for a FREE home valuation or buyer counseling session!