We Are Proud To Announce!

 

We are proud to announce that . . .  

Keller Williams agents ranked highest in overall customer satisfaction by home buyers for the 2nd year in a row by J.D. Power & Associates!

If you’d like more information about buying a home in Vienna, Oakton, Great Falls, McLean, Arlington, Fairfax, Reston, Herndon, Oak Hill, Fairfax Station, or any of the surrounding areas – contact The Belt Team at Sales@TheBeltTeam.com or call us directly at (703) 242-3975!

Open Houses This Weekend!

          

Where can you find Belt Team open houses this weekend?

~ Saturday, August 29th from Noon to 5PM at Francis Young Estates in Vienna

~ Sunday, August 30th from 2PM to 5PM at 8625 McHenry Street in Vienna

~ Sunday, August 30th from Noon to 5PM at Francis Young Estates in Vienna

8625 McHenry Street in Vienna – $765,000

Enjoy a sunny, bright floorplan,  hardwood floors through most of the main level, a delightful sunroom with gas fireplace, updated kitchen, fully finished walkout lower level & more. All on a gorgeous half acre+ lot in the Madison HS pyramid AND convenient to Dunn Loring Metro!

 

Directions: From Cedar & Park: Left on McHenry to #8625. From Route 123 (Maple Ave) in Vienna: South on Park, Left on McHenry. 

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!

Weekly Market Update – Region Approaching A Balanced Market!

“Buyer activity in the MRIS region continues at a brisk pace as summer winds to a close.

For the week ending August 15 there were 2,690 signed purchase agreements—up 29.5 percent from the same week in 2008. While not all of these agreements will end up closing, the robust activity is welcome news regardless.

Supply continues to dwindle.

As of August 15th there were 58,973 homes for sale in the region, down 30.7 percent from the same time last year.

The 6.8 months of supply available for sale is down 35.6 percent from a year ago.

A balanced market between buyers and sellers should have 5 to 6 months of supply available.”

(Report above is from the MRIS Weekly Market Activity Report Dated August 24, 2009) 

Note: Whether we are in a Buyer’s Market or Seller’s Market can vary wildly from town-to-town, neighborhood-to-neighborhood, and price range-to-price range. We are already seeing some local markets that have moved back to a Seller’s Market, while others remain a Buyer’s Market. Factors such as location, price range, neighborhood, schools, and available financing are major determinants. 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.

Weekly Market Update

Q. “How many of the 7 indicators measured are trending in the right direction to bring the MRIS region’s housing market back towards balance?”

~ New listings: down 6.3 percent from a year ago.

~ Pending sales: up 31.0 percent.

~ Active listings: down 30.9 percent.

~ Days on Market Until Sale: down 10.4 percent.

~ Percent of Original List Price Received at Sale: up 0.8 percent.

~ Housing Affordability Index: up 13.5 percent.

~ Months Supply of Inventory: down 35.6 percent.

A. “That’s 7 out of 7, if you’re keeping track at home. The bottom line is that the market is moving back towards balance slowly but surely.”

(Report above is from the MRIS Weekly Market Activity Report Dated August 17, 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.

Watch the video below for some pretty interesting statistics and also for tips on the homebuying process.

(For example, home affordability remains incredibly high! The August 2009 affordability rate is 16%. This means that the median mortgage payment requires only 16% of average income. There have only been 5 other months since 1970 that the affordability rate has been this good.) 

Feel free to contact The Belt Team for assistance with home-buying, home selling, the mortgage process and more: (703) 242-3975 or Sales@TheBeltTeam.com .

Open This Weekend

          

Where can you find Belt Team open houses this weekend?

~ Saturday, August 15th from Noon to 5PM at Francis Young Estates in Vienna

~ Sunday, August 16th from Noon to 5PM at Francis Young Estates in Vienna

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!

For The Non-Engineers In Our Reading Audience . . .

Here are some highlights from the reports below about Vienna Oakton sales in July:

In July in Vienna – 22180:

# of Homes Sold (Settled): 32

44% Sold in 30 days or less!

Average Days on Market – July 2009: 64

Average Days on Market – July 2008: 99

Average Sales Price as a Percentage of List Price – July 2009: 92.62%

Average Sales Price as a Percentage of List Price – July 2008: 96.51%

In July in Vienna – 22181:

# of Homes Sold (Settled): 26

42% Sold in 30 days or less!

Average Days on Market – July 2009: 59

Average Days on Market – July 2008: 90

Average Sales Price as a Percentage of List Price – July 2009: 91.67%

Average Sales Price as a Percentage of List Price – July 2008: 96.10%

In July in Vienna – 22182:

# of Homes Sold (Settled): 36

39% Sold in 30 days or less!

Average Days on Market – July 2009: 65

Average Days on Market – July 2008: 72

Average Sales Price as a Percentage of List Price – July 2009: 93.64%

Average Sales Price as a Percentage of List Price – July 2008: 95.10%

In July in Oakton – 22124:

# of Homes Sold (Settled): 38

46% Sold in 30 days or less!

Average Days on Market – July 2009: 53

Average Days on Market – July 2008: 75

Average Sales Price as a Percentage of List Price – July 2009: 94.74%

Average Sales Price as a Percentage of List Price – July 2008: 94.61%

For The Engineers In Our Reading Audience . . .

Here’s a DETAILED look at what happened in Vienna Oakton Real Estate in July:

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

ZIP Code: 22181 Vienna, VA
From: 07/01/2009 to 07/31/2009                Statistics generated on: 08/06/2009

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

11

$100,000 – 149,999

0

0

0

0

0

0

0

0

31-60 Days

7

$150,000 – 199,999

0

0

0

1

0

0

0

0

61 – 90 Days

1

$200,000 – 249,999

0

0

0

1

0

0

3

0

91-120 Days

4

$250,000 – 299,999

0

0

0

0

0

0

2

0

Over 120 Days

3

$300,000 – 349,999

0

0

1

1

0

2

7

0

Total

26

$350,000 – 399,999

0

0

0

1

0

3

2

0

$400,000 – 449,999

0

0

0

0

0

1

0

0

Type of Financing
of Units Sold
(No. of Units)

$450,000 – 499,999

0

0

2

0

0

7

0

0

$500,000 – 599,999

0

0

1

0

0

9

0

0

Conventional

20

$600,000 – 699,999

0

2

6

0

0

6

0

0

FHA

4

$700,000 – 799,999

0

0

4

0

0

6

0

0

VA

1

$800,000 – 899,999

0

0

2

0

0

10

0

0

Assumption

1

$900,000 – 999,999

0

0

0

0

0

2

0

0

Cash

0

$1,000,000 – 2,499,999

0

0

4

0

0

19

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

2

20

4

0

66

14

0

Total

26

Grand Totals

26 80

   2009    2008    % Change
Total Sold Dollar Volume: $ 18,112,900 $ 15,610,410 16.03 %
Average Sold Price: $ 696,650 $ 557,515 24.96 %
Median Sold Price: $ 652,000 $ 475,000 37.26 %
Total Units Sold: 26 28 – 7.14 %
Average Days on Market: 59 90 – 34.44 %
Average List Price for Solds: $ 724,917 $ 608,176 19.20 %
Avg Sale Price as a
percentage of Avg List Price:
96.10 % 91.67 %
Total NEW listings: 29
Total Properties Marked Contract: 11
Total Properties Marked Contingent Contract: 15
Total NEW pendings (Contracts + Contingents): 26

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


Metropolitan Regional Information Systems, Inc.   ZIP Code Statistics – <$100K to >$5M FormatZIP Code: 22180 Vienna, VA
From: 07/01/2009 to 07/31/2009                Statistics generated on: 08/06/2009

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

14

$100,000 – 149,999

0

0

0

0

0

0

0

0

31-60 Days

8

$150,000 – 199,999

0

0

0

0

0

0

1

0

61 – 90 Days

5

$200,000 – 249,999

0

0

0

0

0

0

3

0

91-120 Days

0

$250,000 – 299,999

0

0

0

0

0

0

4

0

Over 120 Days

5

$300,000 – 349,999

0

0

0

1

0

1

6

0

Total

32

$350,000 – 399,999

0

1

0

1

0

2

3

0

$400,000 – 449,999

1

2

5

0

0

10

0

0

Type of Financing
of Units Sold
(No. of Units)

$450,000 – 499,999

0

3

2

0

0

11

0

0

$500,000 – 599,999

0

1

6

0

0

17

0

0

Conventional

21

$600,000 – 699,999

0

0

3

0

0

4

0

0

FHA

6

$700,000 – 799,999

0

0

1

0

0

2

0

0

VA

2

$800,000 – 899,999

0

0

2

0

0

4

0

0

Assumption

0

$900,000 – 999,999

0

0

1

0

0

4

0

0

Cash

2

$1,000,000 – 2,499,999

0

0

2

0

0

35

0

0

Owner Finance

0

$2,500,000 – 4,999,999

0

0

0

0

0

0

0

0

All Other

1

$5,000,000 & Over

0

0

0

0

0

0

0

0

Unreported

0

Totals

1

7

22

2

0

90

17

0

Total

32

Grand Totals

32 107

   2009    2008    % Change
Total Sold Dollar Volume: $ 18,184,550 $ 15,798,278 15.10 %
Average Sold Price: $ 568,267 $ 564,224 0.72 %
Median Sold Price: $ 500,000 $ 505,000 – 0.99 %
Total Units Sold: 32 28 14.29 %
Average Days on Market: 64 99 – 35.35 %
Average List Price for Solds: $ 588,845 $ 609,171 – 3.34 %
Avg Sale Price as a
percentage of Avg List Price:
96.51 % 92.62 %
Total NEW listings: 35
Total Properties Marked Contract: 15
Total Properties Marked Contingent Contract: 13
Total NEW pendings (Contracts + Contingents): 28

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


Metropolitan Regional Information Systems, Inc.   ZIP Code Statistics – <$100K to >$5M FormatZIP Code: 22182 Vienna, VA
From: 07/01/2009 to 07/31/2009                Statistics generated on: 08/06/2009

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

14

$100,000 – 149,999

0

0

0

0

0

0

0

0

31-60 Days

9

$150,000 – 199,999

0

0

0

0

0

0

0

0

61 – 90 Days

5

$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

7

$300,000 – 349,999

0

1

0

1

0

1

0

0

Total

36

$350,000 – 399,999

0

1

0

2

0

1

3

0

$400,000 – 449,999

0

0

1

0

0

1

0

0

Type of Financing
of Units Sold
(No. of Units)

$450,000 – 499,999

0

0

0

0

0

1

0

0

$500,000 – 599,999

1

3

3

0

0

15

0

0

Conventional

29

$600,000 – 699,999

0

1

8

0

0

19

0

0

FHA

3

$700,000 – 799,999

0

2

4

0

0

13

0

0

VA

0

$800,000 – 899,999

0

0

3

0

0

12

0

0

Assumption

1

$900,000 – 999,999

0

0

1

0

0

9

0

0

Cash

3

$1,000,000 – 2,499,999

0

0

4

0

0

58

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

8

24

3

0

130

3

0

Total

36

Grand Totals

36 133

   2009    2008    % Change
Total Sold Dollar Volume: $ 25,000,000 $ 20,446,660 22.27 %
Average Sold Price: $ 694,444 $ 786,410 – 11.69 %
Median Sold Price: $ 677,500 $ 692,500 – 2.17 %
Total Units Sold: 36 26 38.46 %
Average Days on Market: 65 72 – 9.72 %
Average List Price for Solds: $ 741,581 $ 826,953 – 10.32 %
Avg Sale Price as a
percentage of Avg List Price:
93.64 % 95.10 %
Total NEW listings: 35
Total Properties Marked Contract: 21
Total Properties Marked Contingent Contract: 15
Total NEW pendings (Contracts + Contingents): 36

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


Metropolitan Regional Information Systems, Inc.   ZIP Code Statistics – <$100K to >$5M FormatZIP Code: 22124 Oakton, VA
From: 07/01/2009 to 07/31/2009                Statistics generated on: 08/06/2009

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

13

$100,000 – 149,999

0

0

0

0

0

0

0

0

31-60 Days

8

$150,000 – 199,999

0

0

0

0

0

0

7

0

61 – 90 Days

4

$200,000 – 249,999

0

0

0

0

0

1

10

0

91-120 Days

1

$250,000 – 299,999

0

0

0

0

0

2

2

0

Over 120 Days

2

$300,000 – 349,999

0

0

0

1

0

1

1

0

Total

28

$350,000 – 399,999

0

1

0

1

0

5

1

0

$400,000 – 449,999

0

3

1

0

0

6

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

0

1

0

0

7

0

0

Conventional

21

$600,000 – 699,999

0

1

3

0

0

17

0

0

FHA

4

$700,000 – 799,999

0

0

2

0

0

10

0

0

VA

2

$800,000 – 899,999

0

0

4

0

0

5

0

0

Assumption

0

$900,000 – 999,999

0

0

1

0

0

5

0

0

Cash

1

$1,000,000 – 2,499,999

0

0

6

0

0

28

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

0

7

19

2

0

95

21

0

Total

28

Grand Totals

28 116

   2009    2008    % Change
Total Sold Dollar Volume: $ 21,791,000 $ 22,023,240 – 1.05 %
Average Sold Price: $ 778,250 $ 647,742 20.15 %
Median Sold Price: $ 677,500 $ 634,995 6.69 %
Total Units Sold: 28 34 – 17.65 %
Average Days on Market: 53 75 – 29.33 %
Average List Price for Solds: $ 821,439 $ 684,621 19.98 %
Avg Sale Price as a
percentage of Avg List Price:
94.74 % 94.61 %
Total NEW listings: 39
Total Properties Marked Contract: 12
Total Properties Marked Contingent Contract: 20
Total NEW pendings (Contracts + Contingents): 32

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


Weekly Market Update – Sales Up! Inventory Down!

         

“For the week ending August 1 there were 2,892 signed purchase agreements, an increase of 27.6 percent from the same week last year.

Over the last three months there have been 25.8 percent more pending sales than there were a year ago during the same time period.

For the most recent reporting week there were 3,890 new listings, down 14.8 percent from the same week last year.

Over the last three months there have been 14.5 percent fewer new listings than there were last year, which is combining with the relatively steady sales to bring inventory down.

(Report above is from the MRIS Weekly Market Activity Report Dated August 10, 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 This Weekend!

          

Where can you find Belt Team open houses this weekend?

~ Saturday, August 8th from Noon to 5PM at Francis Young Estates in Vienna

~ Sunday, August 9th from 2PM to 5PM at 2727 Manhattan Place in Vienna

~ Sunday, August 9th from Noon to 5PM at Francis Young Estates in Vienna

2727 Manhattan Place in Vienna – $529,000

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!