Open House in Vienna – Sunday September 30th

TGIF! Time for our Friday Funday Video & Weekend Open House Announcement!

Have you been looking for a single family home under $600,000 in Vienna? Not so easy to find – is it?! And one with a gorgeous lot?! Well – bring your honey over to our open house this Sunday. And you know what his/her response might be? Joy! They might even say “Kiss ME!” (Scroll down for open house details)

(As an added bonus – one of the great things about living in Vienna is that we have one of the D.C. area’s premier music venues – Jammin Java. And on Sunday, guess who is performing? Sixpence None The Richer! Maybe that name doesn’t ring a bell – but you definitely will recognize their song – “KISS ME”! (Enjoy the video – hope to see you Sunday!)

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OPEN SUNDAY 1-4PM – 605 John Marshall Drive NE in Vienna – $599,000

Location, Location, Location! In Town of Vienna. Great lot, great neighborhood, quiet, no houses behind property. Screened porch converts to 2+ car carport. Large kitchen, unbelievable storage. Hardwood floors. Deck off DR is perfect for outdoor entertaining. FR features a gas fireplace. Close to Wolftrap ES, 2 miles to Wolftrap. Close to Vienna Metro, Tysons & Dulles Toll Road. More info about 605 John Marshall Drive NE

Directions: From Tysons: 123 South (turns into Maple Avenue), Right Beulah Rd, Right John Marshall Drive to #605.

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Vienna and Oakton Real Estate Markets In Balance

I still find it hard to believe that I am getting calls from potential buyers & sellers that go like this:

  • Seller: “We’re thinking about putting our house on the market, but are worried it won’t sell. How bad is the market really?”
  • Buyer: “We saw a house come on the market last week in Vienna listed at $725,000. We love it. We’re thinking of offering $600,000 since the market is so bad.”

In both of these cases, the person assumes we are in a “Buyer’s Market” and that the Buyer has all the leverage in the situation. But that is truly NOT the case in our market – nor in many markets around the country.

Here’s a snapshot of what is happening around the U.S. :

Note how many states are in either blue (Seller’s Market) or grey (Balanced Market). Overall, the states that were “first in” to the housing crisis (like California) – seem to be “first out” and have moved from Buyer’s Markets through Balanced Markets to Seller’s Markets.

The irony is that we have been posting statistics weekly for Vienna and Oakton for more than 2 years and throughout all of that time – our markets have either been Balanced or Sellers’ Markets. Throughout 2012 – UNTIL THIS WEEK – Vienna’s housing supply has been less than 3 months. This indicates we have been in a Seller’s Market.

This week, for the first time in 2012, Vienna shows 2.8-3.3 months supply and that means we have moved back into a Balanced (or as I like to call it “Healthy”) Market. Oakton has fluctuated back & forth in 2012 – with about an equal number of weeks in a Balanced market as a Seller’s Market. But current housing supply of 3.0 to 4.8 months puts us squarely in a Balanced Market. (Stay tuned if you’re watching Oakton stats – this is a big jump in a short time. We would not be surprised if Oakton moves into a Buyer’s Market soon.)

What does that mean? It’s a great time to buy AND sell!

BUYERS – Prices in our area are rising. The longer you wait to buy, the higher the prices are going. And interest rates are SUPER attractive right now. Who knows what will happen post-election? Every incremental increase in interest rates has an immense impact on what you qualify for & can afford. Our advice is to buy now.

SELLERS – Homes are selling. Buyers are in the market. And in a Balanced Market, you are on equal footing with Buyers – much better than 4 or 5 years ago when Buyers drove the bus! If you’re moving up – now is an especially good time to sell. Not only can you get your home sold fairly quickly, you can buy your next home before prices continue to rise. Don’t get caught waiting for prices to rise on the sale of your home, only to find that the price rise on the home you want to buy has put you out of the market. (For example – if you wait for prices to rise 10% on your $500,000 home – you’ll net $50,000 extra. But if you’re moving to a $750,000 home, then you’ve actually lost $25,000 because your new home will cost an additional $75,000 if prices rise 10%.

The bottom line is that if you are buying or selling a home, make sure that your Realtor provides you with DETAILED statistics about YOUR market – not just generalities. It’s in YOUR best interests to make an educated move!

What Is My Northern VA Home Worth?

Last week in Vienna Real Estate (22180,22181, 22182):

Search Homes For Sale in Vienna

  • Number of Contracts: 15
  • Average Days on Market for Active Listings: 116 days
  • Average Days on Market for Listings That Went Under Contract: 72 days
  • Inventory: 191 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 2.8 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 3.3 months

Last week in Oakton Real Estate (22124):

Search Homes For Sale in Oakton

  • Number of Contracts: 2
  • Average Days on Market for Active Listings: 94 days
  • Average Days on Market for Listings That Went Under Contract: 127
  • Inventory: 77 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 3.0 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 4.8 months

FREE Buyer Reports

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FREE Home Value Analysis

If you’re thinking of buying or selling a home, watch this video and Contact The Belt Team at (703) 242-3975.

Just Listed Near VRE & I-66 in Manassas!

Just Listed on Buttress Lane in Manassas – $119,000

Move-in ready garden level condo with lovely nature views & walk-out patio. Open floorplan two bedrooms, living room, eat-in kitchen & separate dining area. All freshly painted & many updates in 2010. Master bedroom includes a large walk-in closet and additional vanity w/ sink. Great community with pool and tennis courts. Close to VRE. Easy access to I66 – great for commuters! Convenient to shops, restaurants and more! FHA/VA approved.

Contact Catharine Via at The Belt Team for more information!

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We have LOTS of listings still coming on the market. Let us know if you would like to be on our PRIORITY NOTIFICATION LIST so that you can find out about listings BEFORE they hit the market!

Just Listed in Arlington Near Ballston Metro!

Just Listed on N Tazewell St in Arlington – $699,000

Beautifully renovated 4 level townhome just blocks to Ballston Metro. Upgrades include heated floors, skylights, 2-story bay window, crown molding, updated baths & kitchen, screened deck & gleaming hardwoods. Master suite boasts a spa-like bath, private rooftop terrace, sitting room & walk-in-closet. Lower level walks out to brick patio & has access to underground garage spaces.

More Info about 623 Tazewell St N in Arlington

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Contact The Belt Team

We have more listings coming on the market. Let us know if you would like to be on our PRIORITY NOTIFICATION LIST so that you can find out about listings BEFORE they hit the market!

Don’t Be A Real Estate Guinea Pig!

Does it really matter exactly how many homes your Realtor sells each year? Isn’t it enough that they have a license, know you, live near you and are smart? Or maybe you wonder if it would be better if they didn’t sell a lot of homes, because they might have more time for you?

IT ABSOLUTELY MATTERS!

Here’s why:

Because Pareto’s Principle, or the 80/20 Rule, applies in the real estate market. In other words, 20% of real estate agents nationwide sell 80% of the homes each year.

And 80% of Realtors nationwide sell fewer than 3 homes per year. (The average agent in Northern VA only sold 4 last year. While The Belt Team sold 102. That’s more than one a month for every single agent on the team.)

Unfortunately, Realtors who sell fewer homes have to almost completely relearn the business on every transaction. Just as you would probably never consider a surgeon who only operated three times a year or even once a month, you should look for the most experienced experts to represent you when you’re buying or selling a home.

Here are just a few things to consider:

Highly honed problem solving skills – The Belt Team has seen a lot over the years. Our industry changes daily. Learning never stops. The more homes we sell, the more we learn. So when problems arise, we know how to handle them. (We’ve had lightning strike, raccoons in the attic (twice!), underground oil tanks and more!)

Resources within the community – When roadblocks happen, we have the resources to find ways around them. We know who to call. And because we do so much business, when we call – people listen. (Kind of like “E.F. Hutton”!) And that benefits YOU!

So – when you’re ready to buy or sell a home in Northern Virginia – call The Belt Team (703-242-3975). You don’t want to be a guinea pig for an inexperienced or average agent. YOU DESERVE THE BEST REAL ESTATE TEAM you can get!

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New Home On Cottage Street Open Sunday September 16th

TGIF! Time for our Friday Funday Video & Weekend Open House Announcement!

In honor of our company headquarters being in Texas, we bring you Stevie Ray Vaughn with a message about this weekend’s open house on Cottage Street. “If the house Is rockin, don’t bother knockin, come on in”. And this house is DEFINITELY ROCKIN! Hope to see you there! (Scroll down for open house details)

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BRAND NEW HOME OPEN SUNDAY 1-4PM – 1202 Cottage St SW in Vienna – $999,900

Gorgeous newly finished brick colonial custom home. Over 5000 finished sq ft! Features include hardwood floors on 2 levels, gas fireplace, gourmet chef’s kitchen with top-of-the-line appliances, butlers pantry & more. Lower level includes a wet bar, rec room. media room, bedroom & full bath. Less than a mile from 2 Metro Stations & in MADISON H.S. PYRAMID! More info about 1202 Cottage St

Directions: From Tysons: 123 South, Left Nutley Street, Left Kingsley, Right Cottage to #1202.

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Oakton Home Sales Up, Vienna Home Sales Stable

Are you back into your routine yet?

September is normally a time where things start to settle down into a regular rhythm. Kids are back to school. Traffic patterns settle in to reflect that. The new football season starts. And you can hear the marching band practice when you drive by the local high school.

And that’s no different for real estate. Specific statistics for the past week in Vienna & Oakton are below, but in general – it looks like we are headed back to a Balanced Market as opposed to the Seller’s Market we have been in for quite some time.

Here’s a summary of where we are:

  • In terms of number of homes sold, Oakton took a leap upwards with 10 homes that went under contract this past week. This is higher than any of the past five weeks, and also higher than our annual weekly average of 7. In Vienna, sales remained stable at 11 homes under contract. (The previous week saw 10 contracts.) This is well below the weekly annual average of 21 contracts per week.
  • In terms of how fast homes are selling, things have also slowed, but are still selling fairly quickly. 33% of the homes that went under contract in the past week sold in 10 days or less. 52% sold in less than a month. The longest days on market for homes that sold last week belonged to a home in Bridleridge. It was on the market for 339 days when it finally went under contract. Just 26 days short of a year! The original list price was $1,090,000 and it was listed at $899,900 when it went under contract. (Final sales prices are not listed until after settlement. But this is a perfect example of the real estate adage “The longer a home is on the market, the less it will sell for.”)
  • The highest price home to go under contract last week was a home in Vienna on Woodrow Street. It was listed at $1,185,000.
  • The home that went under contract last week with the lowest list price was a condo at Treebrooke that was listed at $235,000.
  • All homes that went under contract in Oakton last week were listed under $580,000.
  • Number of homes for sale in Vienna creeped up and housing supply is now approaching 3 months in both Oakton & Vienna. And that means a Balanced Market – equal opportunity for both Buyers & Sellers!

Last week in Vienna Real Estate (22180,22181, 22182):

Search Homes For Sale in Vienna

  • Number of Contracts: 11
  • Average Days on Market for Active Listings: 60 days
  • Average Days on Market for Listings That Went Under Contract: 109 days
  • Inventory: 192 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 2.7 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 2.9 months

Last week in Oakton Real Estate (22124):

Search Homes For Sale in Oakton

  • Number of Contracts: 10
  • Average Days on Market for Active Listings: 96 days
  • Average Days on Market for Listings That Went Under Contract: 46
  • Inventory: 68 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 2.2 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 2.6 months

FREE Buyer Reports

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FREE Home Value Analysis

If you’re thinking of buying or selling a home, watch this video and Contact The Belt Team at (703) 242-3975.

 

TEAM – Together Everyone Achieves More! Welcome Patty Schuebel!

Do you ever have one of those moments where you feel the stars are aligned just exactly right? Where everything falls into place exactly the way you hoped it would? Well – that’s the way we felt when Patty Schuebel’s resume came across our desk. And so The Belt Team is happy to announce that we have hired ANOTHER awesome Client Care Manager to serve our AWESOME clients!

Some agents work as individuals, or even in pairs, but at The Belt Team, we feel it’s in our clients’ best interests for them to be served by an entire team. It’s kind of like when you go to the doctor’s office. “Back in the day”, you’d go see your doctor (or he’d come see you!) and he did everything – he signed you in, weighed you, took your temperature, examined you, educated you on treatment options, wrote up your bill, filed your chart, handled your insurance and more. But now, when you go in – you have specialists for each part of your visit. As a patient I like that. I recently had some complicated medical issues to deal with and having someone on staff that specialized in the insurance process was a HUGE help to me. I was really glad the doctor wasn’t the one doing it. (It would have been messed up for sure!)

The reality is that each person on the team does what they are best at. So we run our real estate team along that same principle. “Team” – Together Everyone Achieves More!. Our clients don’t have to rely on just one or two people to handle everything. Imagine how hard it would be to reach them if that were the case! (When I was growing up, there was a saying “jack of all trades and master of none”.) And THAT is why we are so excited to have Patty Schuebel join our team.

Patty’s expertise lies in the administrative & operations end of things. And this is a perfect match for our clients – because when they buy and sell homes, there are a MYRIAD of details that have to be handled – appraisals, home inspections, radon testing, title work, surveys, loan approvals & more. And things need to happen when & how they’re supposed to in order for our clients toi get successfully to closing.

Not only does Patty come with incredible organizational skills and a keen intellect that is great for problem solving, she also bought & sold a home herself last year. (Patty makes the 4th Belt Team client to join our team!) Having gone through the process herself so recently, Patty has the gift of empathy. She understands what it’s like to buy & sell a home because she has walked in your shoes!

SO LET’S MEET PATTY SCHUEBEL!

Patty Schuebel is a Client Care Manager with The Belt Team. Patty was born and raised in the Midwest and has been a resident of Northern Virginia for over 7 years. She graduated from Indiana University with a major in Economics and minor in psychology, and has over 15 years of experience in account/client management and business operations. Patty’s knowledge of managing business operations will help ensure a positive experience for our clients throughout the entire real estate process. She prides herself on the ability to collaborate effectively with many people and personalities through her communication and relationship building skills. Patty is a former Belt Team client and looks forward to offering clients the same level of excellent service and support as she received. When not working with our clients, Patty loves spending time with her husband and two wonderful English Labs; Lily and Leo!

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Why You Need The team Approach When You Buy or Sell A Home

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Open House in Vienna September 9th – Price Reduced on Cottage Street!

TGIF! Time for our Friday Funday Video & Weekend Open House Announcement!

Did you travel this summer? Did you take a break from looking at homes? Are you frustrated with not finding anything in your price range? Then you may be in luck and it may be time to get back into the market. Our new home listing on Cottage Street in Vienna has been reduced to $999,900. In honor of that, we bring you our Friday Funday Video – “See You In September”! So listen to the video for inspiration and then stop by our open house on Sunday, September 9th. (Scroll down for details.)


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BRAND NEW HOME OPEN SUNDAY 1-3PM – 1202 Cottage St SW in Vienna – $999,900

Gorgeous newly finished brick colonial custom home. Over 5000 finished sq ft! Features include hardwood floors on 2 levels, gas fireplace, gourmet chef’s kitchen with top-of-the-line appliances, butlers pantry & more. Lower level includes a wet bar, rec room. media room, bedroom & full bath. Less than a mile from 2 Metro Stations & in MADISON H.S. PYRAMID! More info about 1202 Cottage St

Directions: From Tysons: 123 South, Left Nutley Street, Left Kingsley, Right Cottage to #1202.

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Read about “Life In Vienna”

Northern Virginia Real Estate: Year-Over-Year Review

Labor Day has come & gone. The kids have gone back to school. And sales over the past week slowed as they always do over this holiday weekend. That being said, we’re still seeing a Seller’s Market in many areas. As an example, last week’s real estate stats for Vienna & Oakton are below:

Last week in Vienna Real Estate (22180,22181, 22182):

Search Homes For Sale in Vienna

  • Number of Contracts: 10
  • Average Days on Market for Active Listings: 110 days
  • Average Days on Market for Listings That Went Under Contract: 35 days
  • Inventory: 180 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 2.5 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 2.6 months

Last week in Oakton Real Estate (22124):

Search Homes For Sale in Oakton

  • Number of Contracts: 3
  • Average Days on Market for Active Listings: 97 days
  • Average Days on Market for Listings That Went Under Contract: 43
  • Inventory: 73 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 2.3 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 2.8 months

We still have one more quarter to go before we can look back at 2012 and evaluate the annual Northern Virginia real estate market, but now is a good time to do a year-over-year comparison for listings & sales from January through August.

  • In most (but not all) areas, we have seen prices rising year-over-year from 2009-2012.
  • Average days on market have fluctuated, but are down overall from 2008 to 2012.
  • Most areas have seen a rise in the average sold price as a percentage of original list price.
  • Most areas have seen an overall decrease in the number of new listings coming on the market, while at the same time an increase in the number of sales.

Here are detailed statistics from 2008 to 2012 for a sampling of our Northern Virginia real estate markets.

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If you’re thinking of buying or selling a home, Contact The Belt Team at (703) 242-3975 for a more in-depth discussion & analysis – because it’s 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! After all, don’t you deserve the best Realtor in Northern Virginia?!