TGIF! Time for our Friday Funday Video and Open House Announcements.
By the time Sunday rolls around, we’re betting you’ll be ready to get out of the house. Family is great – – – but sometimes you just need a break! So come visit our open houses in Vienna. After the open houses, you can stop by Caffe Amouri for some coffee or try out the newcomer in town Sweet City Desserts. If you hang around long enough, you take even take in a performance at The Barns of Wolftrap or Jammin Java. (These are just a few of the reasons why WE love living in Vienna so much – maybe you will too!)
First – here’s some inspiration for getting out of the house – The Animals with “We Gotta Get Outta This Place”:
OPEN SUNDAY 124PM – 2009 Spring Branch Drive in Vienna – $1,287,000!
Spectacular home on a sepctacular lot in popular Wendover. Wendover is Vienna’s most appealing close-in community . . . a special enclave of winding streets, tree-sheltered homes, charm & tranquility! Enjoy a stunning, open floorplan with flowing spaces, soaring great room, 3 fireplaces, skylighted sunroom, fabulous kitchen with walls of glass, six bedrooms including a luxurious master suite, 4.5 baths with upgraded granite, upgraded roof & more. Parkland lot in the Madison High School pyramid.
Directions: From Tysons: Route 123 (Maple Ave) through Vienna, Right Lawyers Rd, Right Galloping Way, Left Round Springs, Right Wendover, Dr, Right Bird Rd, Left Spring Branch Drive to #2009. OR: From Rt 66: Exit Vienna to Nutle St, Right Maple Ave, Left Lawyers Rd & as above.
OPEN SUNDAY 2-4PM – 1003 Westbriar Drive in Vienna – $649,990!
This charming all brick home is in a fantastic Vienna location – close to both the Town of Vienna and all it has to offer – AND also to Tysons Corner with easy commuting routes, shops, restaurants & more! Enjoy hardwood floors throughout most of the main level, spacious living room with fireplace, kitchen with stainless steel appliances, custom ELFA closets in all four bedrooms plus a lower level with rec room, office, bedroom, 1.5 baths, and a bonus room. Madison HS pyramid!
Directions: From Tysons: Route 123 (Maple Ave) through Vienna, Right Lawyers Rd, Right Galloping Way, Left Round Springs, Right Wendover, Dr, Right Bird Rd, Left Spring Branch Drive to #2009. OR: From Rt 66: Exit Vienna to Nutle St, Right Maple Ave, Left Lawyers Rd & as above.
First – let’s set the scene. What has happened in the last week in Vienna & Oakton?
Inventory in Vienna & Oakton dropped for the sixth straight week in a row. Vienna now has 202 homes on the market and Oakton has 67. This is the lowest level Vienna has seen in 7 months and in 8 months in Oakton.
Three homes went under contract in Oakton over the past week and 14 homes went under contract in Vienna. This is the identical pace as two weeks ago and still bodes well for the market.
12% of the homes that went under contract in Vienna & Oakton last week sold in 10 days or less. And 41% sold in less than 30 days. The overall average for homes that went under contract last week was 68 days on market. Not bad, huh?!
Both Vienna and Oakton are continuing to teeter between a “Seller’s Market” and a “Balanced Market”. Vienna has a 3.6 month supply of homes and Oakton’s supply is at 2.6 months.
BUYERS: We have been publishing statistics for Vienna & Oakton on a weekly basis for over 2 years now. In all of that time, Vienna has NEVER been in a Buyer’s Market and Oakton has only trended that way for 3 weeks in 2010. This is just another reason why you need to make sure you are working with a Realtor as your advocate. And not just any Realtor, but a Realtor whose skill set benefits YOU.
So what should a Buyer look for in a Realtor?
1. A real estate team who has a demonstrated track record of finding properties for their buyers that are not listed in the MLS. With inventory so low, this broadens the possibilities fo you and means it’s more likely you’ll find your dream home. Look for someone who is proactive and not reactive.
2. Lights out negotiators. With inventory so low, the “good properties” sometimes still get multiple contracts. This means you may be competing with other Buyers to get the home of your dreams. Can your Realtor share examples with you of strategies they have actually used to compete & win out for their Buyer clients in the past?
3. A Realtor with partnerships that benefit YOU. Ask your Realtor who their partners are. They should have partners who have proven track records as well. This includes lenders, appraisers, settlement companies, home inspectors, remodeling folks & more. When you’re looking at potentially buying a home, you may need to consult some or all of these experts for advice. And if problems arise, you need to make sure you have folks who will respond. Realtors who do more business have stronger relationships. Their clients get better, faster service. Your Realtor should have relationships that benefit you.
4. A real estate team that knows the area inside & out. Here’s an example of why that’s important. Until you live in or work in a particular area, you really don’t know what your actual commute might look like. It might look good on paper, but in real life – yikes! Your Realtor should know the area like the back of her hand, and should give you the “good, the bad & the ugly” so you can make good decisions about where to live. In a recent study, Swiss economists discovered a human fault they refer to as “the commuter’s paradox”. They found that when people are choosing where to live, they consistently underestimate the pain of a long commute. According to their calculations, a person with a one-hour commute has to earn 40% more money to be as satisfied with life as someone who walks to the office. This is just one example of an area your Realtor should be advising you on.
5. Experience that benefits YOU. YOU should not be the experience that benefits the Realtor. Did you know that 80% of Realtors nationwide sell fewer than 3 homes per year? Unfortunately, Realtors who sell fewer than 3 homes per year have to almost completely relearn the business. There are more than 10,000 Realtors in Northern Virginai and you don’t want to be the guinea pig!
If you’re thinking of buying or selling a home soon, you can email The Belt Team (or call us at 703-242-3975) to schedule a Buyer or Seller consultation, to request a FREE WRITTEN REPORT of your home’s value or to be put on our FREE PRIORITY NOTIFICATION LIST for special buying opportunities that are not in the MLS or on the Internet.
For our detail-oriented readers, here are last week’s stats:
Last week in Vienna Real Estate (22180,22181, 22182):
Number of Contracts: 14
Average Days on Market for Active Listings: 123 days
Average Days on Market for Listings That Went Under Contract: 60 days
Inventory: 202 homes on the market
Number of Months Supply of Homes (Based on past 90 day contract rate): 4.1 months
Number of Months Supply of Homes (Based on past 30 day contract rate): 3.6 months
Here are last weeks stats for Oakton Real Estate (22124):
Number of Contracts: 3
Average Days on Market for Active Listings: 97 days
Average Days on Market for Listings That Went Under Contract: 105
Inventory: 67 homes on the market
Number of Months Supply of Homes (Based on past 90 day contract rate): 3.5 months
Number of Months Supply of Homes (Based on past 30 day contract rate): 2.8 months
If youre thinking of buying or selling a home, Contact The Belt Team at (703) 242-3975 for a more in-depth discussion & analysis – because its only the neighborhood YOU live in (or you WANT to live in) that matters. We’ll be happy to schedule a consultation and get very detailed about “YOUR Market” so that you can make the decision that is best for YOU!
Over one acre of buildable land/lots TBD between Tysons Corner Metro & Downtown Vienna. Public sewer/water available. Adjacent property available for purchase. Email/message us to request plat & more info. House on site is not accessible. Must make appointment with Lister to walk property.
The weather has finally turned colder, Thanksgiving is days away, and the holidays are approaching. At this time of year, we often get the question, “I want to sell my home, but should I wait to go on the market until after the holidays?” or “My home is on the market now, should I take it off during the holidays?”
Well, the answer is “It depends“!
Here are some things you might want to consider if you are thinking about selling your home during the holidays:
If your home is already on the market, it may be a good idea to stay on the market. Buyers who are looking at homes during the holidays are usually “Real Buyers” and not just “lookie-loos”. Candice Fathi, Buyer Agent for The Belt Team, says “I have buyers who are still looking during this timeframe, especially since interest rates are still competitive.” And Gail Belt, Founding Partner of The Belt Team says, “My experience is that Buyers who are out looking at property during the holidays tend to be serious buyers. They are few and far between, but there are a number of people (like Relo Buyers) that NEED to buy or they wouldn’t be out looking at this time of year. In my time I have written many a contract on a holiday weekend.”
During the holidays, many Sellers take their homes off the market. This means we often see inventory drop and that means if you are on the market, you may have less competition. Kevin Kleifges, Belt Team Real Estate Consultant, says: “It depends on your situation. Are you relocating out of state for a job opportunity or are you looking to upsize or downsize locally? If it is the latter, then you have the option to wait until after the holidays to alleviate the inconvenience of preparing and showing your home during the holidays. But if you need to sell immediately, it’s a good time because of less competition among other homes and extremely favorable interest rates for buyers.”
What is your true motivation? Do you truly want/need to sell? If you’re just “testing the market” (IE – if you are not realistically pricing your home to what TODAY’S Buyers are willing to pay), then now is NOT the time to go on the market. Your home will likely not sell, and then when Spring arrives – your home will be “stale on the market”. Prospective Buyers will wonder what is wrong with your home and why it has been on the market so long. (This is true at any time of year. Overpricing stigmatizes your home and hurts your eventual bottom line significantly.)
“Set your expectations according to the market you are in.” says Terry Belt, CEO of The Belt Team. “If you decide to sell now, price your home for the Winter market – not what you think the Spring market will be. Plan accordingly and prepare yourself & your family to be ready to juggle preparation & showings with other seasonal activities. And if you have little ones, maybe Santa’s upcoming visit will encourage them to keep their rooms clean!)
If you do go on the market, don’t forget that Buyers looking at your home are trying to picture themselves & their families in your home. This is hard to do if your home is over-decorated with holiday knick knacks. So you may want to be a little more restrained than you normally would when putting up your decorations. Too many decorations can also make your rooms look smaller than they really are. In addition, Winter is a dark time of year, so make sure you keep your home as light-filled as possible. Open the drapes, raise the blinds and turn on all your lights. The few extra pennies will be worth it!
If you need help working through what is the best time to put your home on the market, give The Belt Team a call at (703) 242-3975 or email us at Sales@TheBeltTeam.com . Every situation is different and we would be happy to help you figure out what is best for YOU!
This charming all brick home is in a fantastic Vienna location – close to both the Town of Vienna and all it has to offer – AND also to Tysons Corner with easy commuting routes, shops, restaurants & more! Enjoy hardwood floors throughout most of the main level, spacious living room with fireplace, kitchen with stainless steel appliances, custom ELFA closets in all four bedrooms plus a lower level with rec room, office, bedroom, 1.5 baths, and a bonus room. Madison HS pyramid!
TGIF! Time for our Friday Funday Video and Open House Announcements.
Next week we celebrate Thanksgiving. And no Thanksgiving celebration is complete without a plethora of dishes on the table. There’s something for everyone. In honor of that tradition, we’re starting one of our own. So we welcome you to join us at our Thanksgiving feast of open houses! We’ve got something for everyone. And we have at least one home open each day this weekend – starting today! Scroll down for details. (And note that there’s still time to get you in YOUR dream home before next month’s holidays arrive!)
First – here’s our Friday Funday Video from Mary Chapin Carpenter. It’s called “Thanksgiving Song”.
OPEN FRIDAY 4-8PM – 9626 Counsellor Drive in Vienna – $626,000
Charming five bedroom colonial in desirable Barristers Place! Three finished levels including a walkout lower level, family room with fireplace, hardwood floors under carpet on upper level – plus in living room, dining room & family room. Large level backyard with patio. Mere minutes to the heart of Vienna, W&OD Trail & Metro Bus – plus in the Madison High School Pyramid! $626,000
Directions: From Tysons: Route 123 South, Right Lawyers Rd, Right Abbotsford, Right Counsellro Dr to #9626
OPEN SATURDAY 1PM-3PM – 9850 Hidden Estates Cove in Vienna – $849,000
Beautiful custom home mere minutes from Vienna Metro! Welcoming wrap-around front porch, hardwood floors throughout main & upper levels, kitchen with new appliances opens to exceptionally spacious breakfast room, family room with fireplace, tray ceiling master bedroom with fireplace plus master bath with vaulted ceiling & skylights over tub, finished walkup lower level.
Directions: Route 66: Exit Nutley Street toward Vienna past Metro, Left Courthouse Road pass Nottoway Park, Right Hidden Road, immediate left Hidden Cove Estates to 9850 Hodden Estates Cove.
OPEN SATURDAY 1-4PM AND SUNDAY 1 – 3PM – 2010 Westwood Terrace in Vienna – $850,000
This lovely colonial is in a tranquil cul-de-sac in a super convenient Vienna location. Enjoy hardwood floors throughout the main level, a fantastic family room with woodburning fireplace, eat-in kitchen with granite countertops, master bedroom with sitting room, gas fireplace & luxurious master bath, finished walkout lower level with 5th bedroom, & 3rd full bath, plus a large rec room. Walk to the Town of Vienna and all the amenities Vienna has to offer! $850,000
Directions: From Tysons: Route 123 South, Left Niblick Drive, Left Wolftrap Road, Left Westwood Terrace to #2010.
OPEN SUNDAY 1-4PM – 2009 Spring Branch Drive in Vienna – $1,287,000!
Spectacular home on a sepctacular lot in popular Wendover. Wendover is Vienna’s most appealing close-in community . . . a special enclave of winding streets, tree-sheltered homes, charm & tranquility! Enjoy a stunning, open floorplan with flowing spaces, soaring great room, 3 fireplaces, skylighted sunroom, fabulous kitchen with walls of glass, six bedrooms including a luxurious master suite, 4.5 baths with upgraded granite, upgraded roof & more. Parkland lot in the Madison High School pyramid.
Directions: From Tysons: Route 123 (Maple Ave) through Vienna, Right Lawyers Rd, Right Galloping Way, Left Round Springs, Right Wendover, Dr, Right Bird Rd, Left Spring Branch Drive to #2009. OR: From Rt 66: Exit Vienna to Nutle St, Right Maple Ave, Left Lawyers Rd & as above.
OPEN SUNDAY 1-4PM – 1003 Westbriar Drive in Vienna – $649,990!
This charming all brick home is in a fantastic Vienna location – close to both the Town of Vienna and all it has to offer – AND also to Tysons Corner with easy commuting routes, shops, restaurants & more! Enjoy hardwood floors throughout most of the main level, spacious living room with fireplace, kitchen with stainless steel appliances, custom ELFA closets in all four bedrooms plus a lower level with rec room, office, bedroom, 1.5 baths, and a bonus room. Madison HS pyramid!
Directions: From Tysons: Route 123 (Maple Ave) through Vienna, Right Lawyers Rd, Right Galloping Way, Left Round Springs, Right Wendover, Dr, Right Bird Rd, Left Spring Branch Drive to #2009. OR: From Rt 66: Exit Vienna to Nutle St, Right Maple Ave, Left Lawyers Rd & as above.
OPEN SUNDAY 1 – 4PM – 9969 Cyrandall Drive in Oakton – $639,900
This fabulous townhome has three finished levels including gleaming hardwood floors on the main level ~ a gourmet kitchen with cherry cabinets, granite countertops & stainless steel appliamces ~ kitchen is open to family room with gas fireplace plus sunny breakfast area ~ vaulted ceilings in all bedrooms ~ master suite with sitting area & luxurious bath ~ wlkout lower level to fenced backyard. Best of all – LESS THAN A MILE TO VIENNA METRO!
Directions: I-66 to Rt 123 North toward Vienna, Right Jermantown Rd, Jermantown turns into Blake Ln, Right on Cyrandall Valley Rd, Right Cyrandall Drive to #9969 on left.
What has happened in the last week in Vienna & Oakton?
Inventory in Vienna & Oakton dropped for the fifth straight week in a row. Vienna now has 213 homes on the market and Oakton has 71. This is the lowest level Vienna has seen in 7 months and in 8 months in Oakton. (GREAT for Sellers!) (Buyers – Low inventory like this is why you need a Realtor working on your behalf who has a track record of finding homes for their Buyers even before they come on the market!)
Three homes went under contract in Oakton over the past week and 14 homes went under contract in Vienna. Sales traditionally slow somewhat as we approach the holidays. So this is just about where we expected the market to be. (Stay tuned for our post tomorrow about whether or not you should have your home on the market during the holidays.)
29% of the homes that went under contract in Vienna & Oakton last week sold in 10 days or less. And 41% sold in less than 30 days. The overall average for homes that went under contract last week was 71 days on market.
Both Vienna and Oakton are continuing to teeter between a “Seller’s Market” and a “Balanced Market”. With a 3.8 month supply of homes in Vienna, Vienna is in a “Balanced Market”. While Oakton, with a 3.1 month supply of homes has moved back to being in a “Seller’s Market”.
If you’re thinking of buying or selling a home soon, you can email The Belt Team (or call us at 703-242-3975) to schedule a Buyer or Seller consultation, to request a FREE WRITTEN REPORT of your home’s value or to be put on our FREE PRIORITY NOTIFICATION LIST for special buying opportunities that are not in the MLS or on the Internet.
For our detail-oriented readers, here are last week’s stats:
Last week in Vienna Real Estate (22180,22181, 22182):
Number of Contracts: 14
Average Days on Market for Active Listings: 120 days
Average Days on Market for Listings That Went Under Contract: 56 days
Inventory: 213 homes on the market
Number of Months Supply of Homes (Based on past 90 day contract rate): 4.4 months
Number of Months Supply of Homes (Based on past 30 day contract rate): 3.8 months
Here are last weeks stats for Oakton Real Estate (22124):
Number of Contracts: 3
Average Days on Market for Active Listings: 93 days
Average Days on Market for Listings That Went Under Contract: 67
Inventory: 71 homes on the market
Number of Months Supply of Homes (Based on past 90 day contract rate): 3.7 months
Number of Months Supply of Homes (Based on past 30 day contract rate): 3.1 months
If youre thinking of buying or selling a home, Contact The Belt Team at (703) 242-3975 for a more in-depth discussion & analysis – because its only the neighborhood YOU live in (or you WANT to live in) that matters. We’ll be happy to schedule a consultation and get very detailed about “YOUR Market” so that you can make the decision that is best for YOU!
Spectacular home on a sepctacular lot in popular Wendover. Wendover is Vienna’s most appealing close-in community . . . a special enclave of winding streets, tree-sheltered homes, charm & tranquility! Enjoy a stunning, open floorplan with flowing spaces, soaring great room, 3 fireplaces, skylighted sunroom, fabulous kitchen with walls of glass, six bedrooms including a luxurious master suite, 4.5 baths with upgraded granite, upgraded roof & more. Parkland lot in the Madison High School pyramid.
This charming all stone rambler is on a gorgeous wooded .70 acre lot one half mile from Vienna Metro. Two car garage ~ refinished hardwood floors on the main level ~ marble surround fireplace in living room with built-in shelving surround ~ finished walkout lower level with family roon & stone fireplace, fourth bedroom & 3rd full bath
5-level waterfront townhome at beautiful Lake Anne. Enter thru a private courtyard. Hardwood floors on the main & upper levels and floor-to-ceiling windows. Both the living room and master bedroom span the lakeside, and each has a balcony w/amazing views. Tenants must carry their own renters’ insurance. Available December 15th.
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Northern Virginia Real Estate Blog 