Tam’s Tuesday Tip – What Makes You Click

Please join me in helping my future sellers.  Will you tell me, “What Makes You Click?” when you’re looking at Alexandria VA homes for sale online?  Inquiring sellers really want to know.  Watch my quick video below and comment here or on my Facebook page.

The first 10 comments, names will be entered into a drawing for a $50 gift card to the Cheesecake Factory.

Northern Virginia Home Sales Stats for December 2011 -
We’re In A Sellers Market

National doom and gloom?  Who knew that Northern Virginia was in the middle of a sellers market?  According to the real estate sales statistics for December 2011, that’s the real deal.  Here’s the video:

Alexandria VA Real Estate – Are There Any Black Friday Deals?

Undoubtedly your email inbox has been flooded with Black Friday and Cyber Monday deals.  And according to news reports, it’s actually been a record setter.  But what about real estate?  Are there ever any ‘Black Friday’ deals when it comes to buying houses?

I’m working with a couple of buyers right now who would say so.  Scenario #1: My buyer found a ’steal of a deal’ on a foreclosure.  It was a 2BR/2BA condo in the building where he wants.  This home was priced to sell.  My buyer went out of town with the intention of submitting an offer upon his return.  Not only was the condo under contract, but so were four others out of the seven that we saw!  File this one under  ’the one that got away’.  Scenario #2: My buyer found a short sale condo that had already had multiple offers.  After submitting an offer, he was disappointed only to learn that the seller selected a cash offer that was lower.

Here in Northern Virginia, we have multiple cycles in our real estate market.  We have the traditional spring market, where historically sellers are able to get the most for their home, but that’s also when buyers usually compete the most.  There’s also the ’post-Father’s Day market’.  This is the time after school ends and families take a vacation, then decide to beef up their home search in order to be settled in before school starts.  And finally, there’s the holiday market.  That’s the market that we are in now.  This is the market where you will most likely find ’HAVE TO SELL’ sellers.  You’ll also face some competition among other buyers because the market will include buyers who want to be in their homes before Thanksgiving, before Christmas, or before December 31 for tax purposes.

Home affordability is at an all time low in Northern Virginia.  Not only will your pre-approved dollar go farther than it’s gone in the past five years, but with seller concessions (paid closing costs and home warranties), there are deals in place that will be contingent upon you closing before December 31.

You may want to keep an eye out of the Fannie Mae foreclosures.  Did you know that you can purchase a Fannie Mae foreclosure with as little as $500?  Here are the newest foreclosures that have hit the market in Alexandria, are you ready to go house shopping yet?

Alexandria (City) Va Real Estate Sales and Market Report for October 2011

For the month of October 2011, there were 138 homes that sold in Alexandria City, with sales totaling $59,725,362.  The median sales price for homes was $385,500 and the average sold price was $432,792.  On average homes stayed on the market for 67 days and were sold at 95.1% of their asking price.

Mouse over the interactive chart below and you’ll see that sales in October 2011 came back from a three month decline.  In July there were 186 homes sold, in August 166, and in September there were 124 homes that sold.  Distressed sales (Alexandria foreclosures and short sales) continue to play a minimal role in the overall market.  In October, there were only 13 foreclosures that sold, and 9 short sales.

What was the effect of the median sales price for homes in Alexandria City for October 2011?  Since April, the median sales price of homes has been teeter-tottering.  It been up one month, down the next.  In May, the median sales price peaked at $493,000; in October, the median sales price was down to $385,500.

Did Alexandria City homeowners just give their properties away in October 2011? Traditional homeowners didn’t, but in transactions that involved the banks, the buyers were able to negotiate the prices down.  In October, home sellers received 95.10% of their original asking price.  Properties that were bank owned foreclosures got 93.32% of the original asking price, and short sales were sold at 89.37% of the original asking price.  This supports that the ‘deals’ are still in the Alexandria short sales and foreclosures.

Open Houses For Bucknell Manor – November 13 – 6913 Kenyon Drive, Alexandria VA 22307

Bucknell Manor Homes For Sale - Come see this pristine four level duplex that has been completely renovated this Sunday, November 13 from 1-4 PM.  This move-in ready home offers hardwood floors, a new kitchen with extended island, stainless steel appliances, and maple cabinets.  Three generous sized bedrooms, three full baths, and a finished basement with recreation room, full bath, and front loading washer and dryer.

Bucknell Manor Duplexes and Homes For Sale

Just Listed in Bucknell Manor – The four level duplexes are rarely available, so Alexandria VA listing agent Tamara Inzunza is ecstatic about the debut of this pristine renovation.  This home has been redone in preparation for today’s buyer.  Starting with the living space, this home includes three bedrooms and three full baths.

The fourth level (some may call it a loft) is dedicated to the master suite. There is a sitting room, closet, bedroom, and a full bath.  The bathroom includes new flooring, light fixtures, ceramic tile surround in the shower, toilet, and cabinet sink.  There is also new berber carpet in the master bedroom, but don’t worry, the original hardwood floors are in place underneath.

On the third level, there are two bedrooms with shining hardwood floors, new windows, and closet doors.  The full bath is in the hallway and this provides the perfect fit for a roommate situation.

The main level includes a beautiful kitchen with stainless steel appliances and oversized island.  The appliances include a built-in microwave/convection oven, gas stovetop, dishwasher, and refrigerator with icemaker.  The kitchen provides for added countertop space and storage.

The abundance of space continues to the lower level with a recreation room, full bath, and utility room with front loading washer and dryer.  The basement is walkup level, and the backyard is fenced.  Off the kitchen is a door to the back that will lead you onto the elevated deck.

This home is ideal for buyers who have pets and need yard space, but also for those who may have been considering comparable Alexandria VA condos for sale.  With this duplex, there is no monthly association fee!  Without this added monthly expense, you will increase your buying power.

See Also: All Bucknell Manor Homes For Sale

See Also: Sell My Bucknell Manor Home

Other homes I’ve recently sold in Bucknell Manor:

• 6509 Cavalier Drive (Detached home)
• 6933 Westhampton Drive (Duplex)

Things To Do In Alexandria VA -
November 2011 Events Calendar

 There’s no shortage of things to do in and around Old Town Alexandria for the month of November 2011.  In addition to celebrating Veteran’s Day, there are numerous plays, concerts, and even cooking demonstrations!  Click here for a print friendly version of my November 2011 events calendar, and I’ll look forward to seeing you in and around Alexandria VA this month!

Alexandria VA Short Sales – Gone and Back Again |
Midtown Alexandria Condo Reduced Price

 

• 24-hour concierge
• internet cafe with complimentary coffee and tea
• one bedroom guest suite that can be rented
• fitness center
• massage room
• outdoor pool
• outdoor kitchen area with grill
• secure building

Here is a photo tour of the amenities of Midtown Alexandria Station condos:

Whether you’re commuting to work, or are out and about checking out the cool things to do, wouldn’t it be nice to leave your car parked in the garage and walk across the street to the Huntington metro? Enjoy dinner and a movie just one stop away at the AMC Theature and restaurants at Eisehower Avenue metro, or visit the historic sites in Old Town Alexandria just two stops away at the King Street metro.  Call me at 703-623-8759 to take a look at this lovely unit today.

If you are an Alexandria VA homeowner and you are facing a financial hardship, please contact me to discuss your options to avoid foreclosure.  As a short sale specialist, I can help you determine what’s your best course of action.

Northern Virginia Market Watch Video for September 2011

Reiterating that all real estate is local, and the local forecast continues to outperform the national real estate market.  Pending sales were up from last September.  In September 2010, the number of pending sales was 2,231 and for September 2011 the number of pending sales was 2,394, an increase of 7.3%.  Rock bottom interest rates continue to add fuel to the desire to make a home purchase. The number of homes for sale decreased.  In September 2010, there were 11,802 homes on the market, while the number dropped to 9,130 this past September.  The median sales price increased from $350,000 in September 2010, to $362,000 in September 2011.

See Also – Northern Virginia Market Watch for July 2011

Del Ray Real Estate Market Report Alexandria VA -
September 2011

How many homes sold in the Del Ray area during the month of September 2011? Remember that the Del Ray area covers zip codes 22301 and 22305.  So let’s start with the zip code of 22301.  Take a look at the interactive chart below and use your mouse to roll over the different points.  In September 2011, there were 13 homes that sold in the Del Ray zip code of 22301, this was down from 17 homes that sold, both in the months of July and August.

In the zip code of 22305, sales were up two units from 10 in August, to 12 in September.

How did the two zip codes compare when it comes to the median sales price? In the Del Ray zip code of 22301, the median sales price increased from $525,000 in August 2011 to $680,000 in September.  In the Del Ray zip code of 22305, the median sales price also increased from $388,500 in August 2011 to $542,500 in September 2011.  Some home sellers in Del Ray saw a decrease in the average days on market.  In 22305, the time it took to sell a home in Del Ray went from 48 days in August 2011, down to 41 days in September. However, in 22301, homes stayed on the market longer, going from 47 in August 2011, to a whopping 98 days in September.

If you are thinking about selling your home in Del Ray, please call me at 703-623-8759.  If you’re thinking about buying a home in Del Ray, here are the newest listings to hit the market: