Real Estate Prices Up, Selling Fast in Arlington VA

Real Estate Prices Up, Selling Fast in Arlington VA! Nearly 52% of the sales in June sold within the first 10 days on the market. Prices were up an average 4.15%, average days on the market were 25 overall, and sellers averaged 98.7% of asking price.

Single Family Homes

N. Arlington Average Net Sale Price: $1,001,803  in 20 days
Range: $475,000 – $2,518,420
S. Arlington Average Net Sale Price: $658,008 in 23 days
Range: $355,000 – $1,155,000

Townhomes
N. Arlington Average Net Sale Price: $868,280  in 17 days
Range: $520,000 – $1,580,000
S. Arlington Average Net Sale Price: $464,217 in 24 days
Range: $272,500 – $729,900

1 Bedroom, 1 Bathroom Condos
N. Arlington Average Net Sale Price: $396,438  in 18 days
Range: $238,000 – $585,000
S. Arlington Average Net Sale Price: $299,200 in 17 days
Range: $191,900 – $440,000

2 Bedroom, 2 Bathroom Condos
N. Arlington Average Net Sale Price: $550,666  in 19 days
Range: $280,000 – $735,000
S. Arlington Average Net Sale Price: $423,983 in 27 days
Range: $325,000 – $665,499

Search Arlington Homes For Sale or Find Out What Your Arlington Home Is Worth

Ballston Place Townhome SOLD in Arlington, VA

Under Contract in 4 days and 8 Offers!!

Priced at $655,000

SOLD FOR $675,000

4425 7th St N Arlington VA 22203

See Virtual Tour

Print_Exterior-4425 7th Street N

4425 7th St N Arlington VA 22203

Just Sold in Longbranch Park, Arlington, VA

This renovated Longbranch Park Duplex just SOLD!

Listed for $430,000, it sold for a net of $415,000 after 27 days on the market

See virtual tour pictures here.

Web_Exterior-Front Elevation

2721 S Veitch St Arlington VA 22206

Arlington Real Estate Prices Up 4.5% In May 2014

Average Arlington real estate prices were up 4.5% during May 2014 from the previous year. Sellers averaged 98.9% of original asking price, inventory was up 28% from the previous year and 53% sold within 10 days of being on the market.

Single Family Homes

N. Arlington Average Net Sale Price: $1,004,555  in 22 days
Range: $500,000 – $2,420,000
S. Arlington Average Net Sale Price: $648,083 in 25 days
Range: $440,000 – $1,110,000

Townhomes
N. Arlington Average Net Sale Price: $961,032  in 7 days
Range: $650,000 – $1,265,000
S. Arlington Average Net Sale Price: $430,617 in 24 days
Range: $245,000 – $734,000

1 Bedroom, 1 Bathroom Condos
N. Arlington Average Net Sale Price: $387,034  in 34 days
Range: $205,000 – $873,500
S. Arlington Average Net Sale Price: $238,679  in 29 days
Range: $99,900 – $360,000

2 Bedroom, 2 Bathroom Condos
N. Arlington Average Net Sale Price: $646,850  in 27 days
Range: $300,000 – $1,630,0o0
S. Arlington Average Net Sale Price: $458,464 in 38 days
Range: $305,000 – $675,000

Search Arlington Homes For Sale or Find Out What Your Arlington Home Is Worth

Blog HACKED!

After a very frustrating week of trying to save 6 years worth of content on this blog after some guy hacked it, I’m happy to say we are back up and running! Please give me some time to redo the last month worth of content that was lost in the hack, but at least it’s not 6 YEARS!

I LOVE YOU GO DADDY!!!

The face of a happy realtor:

happy realtor

 

 

 

 

To hire this cheeseball, email me at Laura@TheLJRGroup.com or call me at 703-283-6120

Longbranch Park Duplex: Under Contract!

This renovated Longbranch Park Duplex is now under contract! See virtual tour pictures here.

Web_Exterior-Front Elevation

2721 S Veitch St Arlington VA 22206

How to Beat Cash Buyers in Arlington

There was an interesting article in the Washington Post about Cash Buyers in the real estate market. The article says nationally, cash buyers make up about 40% of buyers, but in Arlington, that number averages about 18% so far in 2014. In this tough sellers market, being a buyer is hard enough without having to compete against all cash buyers, so how do you beat cash buyers in Arlington? Read on for tips.

The reason all cash offers are attractive is because it’s basically a done deal. Most cash offers don’t include financing or appraisal contingencies, removing 2 of the big 3 “outs” in a contract. Cash buyers can usually close whenever is convenient for a seller, whether that’s a week from contract time or later.

How to Beat Cash Buyers:

1. Use a local lender, of your choice, who is known for closing on time. Because of RESPA, no agent can MAKE you use a specific provider, but I can tell you as a listing agent (someone who represents the seller), if an offer comes in with a letter from Quicken Loans, Bank of America, Lending Tree (see the trend, any big company where they don’t care about your particular loan) it’s highly unlikely a seller will feel comfortable accepting that. Bigger companies have far less control over the underwriting process which can slow up your closing. They want to KNOW that when they agree to a closing date, they will actually close then. Any day after that can cost them more money in interest, taxes, utilities, etc.

2. Have enough cash to put down that waiving an appraisal or financing makes you just as strong as a cash offer. If you’re putting at least 20% down (or have extra cash you’re not necessarily using as a down payment but can come up with the difference if the property doesn’t appraise), makes the appraisal a sort of non-issue for the seller, again guaranteeing them the sale price they agreed to.

3. Put down a large deposit to show good faith you won’t change your mind for no reason later (this deposit is of course secured by other contingencies like home inspection or condo/HOA document review).

4. Give the seller whatever close date they need/want. Quick close? A local lender can do that, some in as few as 10 days, others prefer 21 days (or more). Rentback for a short time? Why not consider giving them a free rentback. If you close in June, your 1st mortgage payment isn’t due until August.

5. Write a lover letter to the seller about why they should sell YOU, and only you, their home.

 

Those are some of the strongest ways to make your contract as competitive as it can be compared to a cash offer. This market is HARD to be a buyer in, competing against cash offers makes it even harder! Luckily, most of the cash buyers are in the $500k or under range, or the $1m+ range. The area that’s most competitive right now is the that middle ground – $500k – $1M, and that’s where you see most people needing a lender so you’re all in the same boat.

DC Real Estate Prices Increase Again in April 2014

With over 650 real estate sales in DC during April, it was a busy time in real estate. Prices were up over 12% from 2013, while days on the market fell to 33, and sellers averaged 99.6% of asking price.

Single Family Homes
Average Sale Price: $946,988 in 40 days
Range: $40,000 – $16,100,000

Rowhomes/Townhomes
Average Sale Price: $669,020 in 25 days
Range: $80,750 – $2,825,000

1 Bedroom 1 Bathroom Condos/Coops
Average Sale Price: $348,813 in 24 days
Range: $17,500 – $569,900

2 Bedroom, 2 Bathroom Condos/Coops
Average Sale Price: $605,300 in 21 days
Range: $188,000 – $1,329,000

Find Out What Your DC Home Is Worth or  Search DC Homes For Sale 

Falls Church VA Real Estate Prices Up in Spring 2014

Falls Church VA Real Estate Prices Up in Spring 2014! During April, a total of 116 properties sold. In Falls Church City, average sale prices were up over 14% from April 2013, while days on the market fell to 27 and sellers averaged 99% of original asking price. The stats below are for Falls Church (both Fairfax County and City of):

Single Family Homes
Average Net Sale Price: $622,495 in 35 days
Range: $365,000 – $1,200,000

Townhomes
Average Net Sale Price: $568,431 in 20 days
Range: $334,000 – $849,900

1 Bedroom, 1 Bathroom Condos
Average Net Sale Price: $196,972 after 27 days
Range: $155,000 – $262,000

2 Bedroom, 2 Bathroom Condos
Average Net Sale Price: $350,228 after 14 days
Range: $162,750 – $572,500

Find Out What Your Falls Church Home Is Worth or Search Falls Church Homes For Sale

High End Real Estate Sales in McLean Help Market Prices Increase

High End Real Estate Sales in McLean Help Market Prices Increase during April 2014. A total of 66 sales throughout McLean, most of which were single family homes. In 22101, prices increased 0.2% while in 22102 it was 2.23%. Days on the market increased for both due to some longstanding homes, but 22101 was 70 and 22102 was 50 days on the market (in actuality, about half sold in under 10 days).

22101

Single Family Homes
Average Net Sale Price: $1,128,085 in 52 days
Range: $675,000 – $3,400,000

Townhomes
Average Net Sale Price: $849,20 8 in 54 days
Range: $637,239 – $1,100,000

22102

Single Family Homes
Average Net Sale Price: $1,285,045 in 50 days
Range: $925,000 – $2,200,000

Find Out What Your McLean Home Is Worth or  Search McLean Homes For Sale 

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