Now, as far as the properties you see online, whether it’s on websites like Redfin, FranklyMLS, HomesDatabase, Realtor.com, etc. Those are all aggregate sites that put all of the properties currently listed in our main Multiple Listing Service (MLS), which is the system Realtors have access to, in another searchable website for you. It doesn’t mean that particular company represents the seller, it’s just another resource for you to search homes for sale on your own.

Still have questions? Ask away! 

Also, my office is teaching a class called Camp 4:4:3 for newly licensed or soon to be licensed agents. It happens every Saturday from 9am-1pm at my office at 6820 Elm Street, McLean, VA 22101.

It’s taught every week by a different member of our Agent Leadership Council, which is a group of the top 10% of our agents. I’ll be teaching the class on February 19th, called “The Buyer Consultation – Initial Steps”

Let me know if you’re interested in attending! Email me at Laura@TheLJRGroup.com

Borrowers can use Mortgage Insurance (MI) to buy a home sooner and enjoy predictable payments, while benefiting by deducting the premiums from their income taxes. And MI can be canceled once the home buyer builds enough equity.   MI is required on all mortgage loans that exceed an 80% loan to value.

Details on Tax Deductibility for MI Remain Unchanged

• The home purchase or refinance loan must close between January 1, 2007 and December 31, 2011;
• Household income must be at or below $100,000 for a full deduction of premium;
• The premium deduction is reduced 10% for each $1,000 of income over $100,000;
• The premium deduction is prorated in the first year based on the month the loan closes;
• Applies to primary residence and one other residence purchased for personal use by the taxpayer;
• Monthly, annual, and single MI premiums are eligible. Financed premium deductions should be taken over a seven year period.

Please consult a tax expert for more details (I recommend Kahn CPA).

1. New Construction in Clarendon – The Waverly and Garfield Park
Read the updated version of Garfield Park at Clarendon Village

2. New Construction in Arlington, VA: Ballston

3. Saying Goodbye to McMansions: What You’ll Save

4. I’m in Love With Northside Social in Clarendon

5. 2011 Predictions for the Arlington County and DC Metro Area Real Estate Market

6. What Are The Average Condo Fees in Arlington?

7. Does A Higher Floor Increase My Condo Value?

8. Buyer Strategies for Buying Bank Owned and Foreclosed Homes

9. How Accurate Are Zillow(R) ZEstimates(R)?

10. How Will The National Foreclosure Freeze from Big Banks Affect the Arlington Real Estate Market?

Don’t forget you can also learn more:

Arlington Market Statistics by Month

Arlington Condos and Townhomes

Arlington Neighborhoods (in progress)

All numbers are ACTIVE (not pending) properties for sale and excludes the Jefferson Retirement Building (a condo community for people aged 55+), but includes condos, coops, single family homes, townhomes, duplexes, etc. For the sake of argument, I grouped townhomes and duplexes together.

Of the properties actively for sale, there’s a total of 628, and only 9% are distressed:

Now breaking down the inventory of short sales for sale (a total of 39):

You can see the majority of short sales, 69.2% are condos, mostly in South Arlington (22202,22204,22206). This explains why most of the South Arlington condos are still selling at a lower price and not rising in price as quickly as other parts of the county.

As for Bank Owned (foreclosures), there are 19 foreclosures for sale, again mostly condo:

Same thing here: mostly in South Arlington, mostly older condos.

Just a note…of the 628 properties for sale, 41 of them are new construction. This helps add to the total number of regular sales, as these are usually not distressed. Increased numbers of new properties also indicates a healthy market, as financing becomes more available and developers see opportunities to make money in real estate.

Yikes.

The couple also writes a blog called Our Meth House.

The summary: first-time home buyers in Pennsylvania use a trusted Realtor(R), get a home inspection, get the clear from the county for compliance and buy an estate property. After moving in, they start having some health issues and other visible signs that something with the house is wrong. After punching in the address into Google, the couple finds out their house is on the U.S. Drug Enforcement Administration’s National Clandestine Laboratory Registry as a known Meth Lab.

Again, yikes.

They now face a $61,000 home improvement project to clean it up, or let it go to foreclosure. They’re trying to raise $25,000 if you’d like to donate.

So what’s a couple to do?

Beyond the regular scope of inspections, such as a Home Inspector, Structural Engineer, Mold, Termite, and Radon, all of these people investigate the CURRENT status of the home. In a “Buyer Beware” state like Virginia, if you’re looking for dirt, try some of these methods to gain insight into the house:

- Google. It is your friend.
-  Neighbors and/or neighborhood association.
- Check with the County records. Visit the Arlington County website.

Other than that, there’s not much you can do to prevent something like this. It’s a horrible, unthinkable, and disastrous situation…I’m wishing Jenn and Robert the best as they struggle through this situation.

Listing Agent: The Realtor(R) hired by the SELLER to represent them in a real estate transaction
Buyer’s Agent/Selling Agent: The Realtor(R) hired by the BUYER to represent them in a real estate transaction
Commission: Paid by the SELLER and built into the listing agreement when the seller decides on a list price.

Now, in a regular transaction there are usually 4 parties to a contract: The Seller, The Buyer, The Seller’s Agent (Listing Agent) and the Buyer’s Agent:

It’s a balanced seesaw. Everyone has fair and equal representation. Everyone’s interests and concerns are heard by their OWN agent. Now, take out the buyer’s agent:

Suddenly the balance has shifted. When the Seller hired the Realtor(R) they signed an agreement that the listing agent WORKS FOR the SELLER. They represent their interests…not yours.

You should know EVERY agent has their own opinion on this subject and can choose to do it, if they wish. It’s completely legal and often very common. I choose not do it for several reasons:

1. Frankly, in a world where someone can sue a company for burns after ordering Hot Coffee and spilling it on herself – I do it as protection, just in case.
2.  I think at some point, someone will be unhappy. If your attention is split between parties, especially during negotiations, someone will not be heard. I’ve had a lot of happy customers over the past few years and i’m not sure if I could say that had I been representing both sides.
3.  You don’t necessarily get a “better deal” by using the listing agent. When pricing a home, you get an estimate of what it costs to sell your home and part of that is the total commission nugget. More often than not, if an agent is doing both sides they cut their commission for the SELLER – not you as the buyer.

On one of my first dates with my boyfriend, he told me he thought Real Estate Agents were criminals; I don’t blame him as our industry usually has a bad rap. Turns out he had a bad experience with a dual agency situation years back. That explains it.

1 Bedroom Condos
Average Net Sale Price: $327,963 in 63 days
Range: $245,035 – $380,000

2 Bedroom Condos
Average Net Sale Price: $572,781 after 54 days
Range: $339,500 – $860,000

Townhomes
Average Net Sale Price: $766,940 after 47 days
Range: $599,900 – $876,234

Single Family Homes
Average Net Sale Price: $723,563 after 65 days
Range: $431,000 – $1,379,000

For more specific pricing information of your Clarendon or Courthouse home, find out what YOUR home is worth.

Search Arlington Homes For Sale

22207 & 22213 (Country Club, Country Club Hills, Berkshire Oakwood, Bellevue Forest, Cherrydale, Country Club Manor, Crescent Hills, Dover Balmoral, Golf Club Manor, Lee Heights, Maywood, Highview Park, Minor Hill, Shirley Woods, Waycroft, Willet Heights, Williamsburg Village, Woodmont, Wavery Hills, etc.)

$1M+ Typically buys you a renovated/newer house that’s about 3,000 sq ft or more, and usually 4+ bedrooms
$800k-$1M Typically buys you about 1,800 – 2,999 sq ft, usually about 3-4 bedrooms, most renovated
$600k-$800k Typically buys you about 1,400-1,799 sq ft, usually about 3-4 bedrooms, sometimes renovated
<$600k Typically buys you <1,400 sq ft, 2-4 bedrooms, few renovated

22201 (Lyon Village, Lyon Park, Clarendon, Ashton Heights, Kirkwood Terrace)

$1M+ Typically buys you a renovated/newer house that’s about 2,100 sq ft or more, usually 3+ bedrooms
$800k-$1M Typically buys you a renovated house that’s about 1,700 – 2,099 sq ft or more, usually 3+ bedrooms
$600k-$800k Typically buys you a house that’s about 1,400 – 1,699 sq ft, usually 3-4 bedrooms, some are renovated
<$600k Typically buys you <1,400 sq ft, few are renovated, and are usually 3 bedrooms

22203 (Ballston, Arlington Forest, Spy Hill Blvd, Brandon Village, Bonair)

$1M+ Typically buys you 2,500 sq ft or more, usually new, 3+ bedrooms
$700k – $1M Typically buys you about 1,500 – 2,499 sq ft, usually renovated, 3-4 bedrooms
$500k – $700k Typically buys you 1,200 – 1,499 sq ft, mostly renovated, 3-4 bedrooms
<$500k Typically buys you <1,200 sq ft, some renovated, 2-4 bedrooms

22205 (Westover, Bonair, Brockwood, Dominion Hills, Falls Church Park, Lacey Forest, Garden Commons, Larchmont, Leeway Heights, Madison Manor, Over Lee Knolls, Summit & Veitch, Tara, Tuckahoe Village, Waycroft)

$1M+ Typically buys you a newer or totally renovated house, 2,700 sq ft+, 4+ bedrooms
$800k-$1M Typically buys you a renovated house, 1,900 – 2,699 sq ft, 4+ bedrooms
$600k – $800k Typically buys you a renovated house, 1,200 – 1,899 sq ft, 3-4 bedrooms
<$600k Typically buys you a <1,200 sq ft house, sometimes renovated, 2-3 bedrooms

22209 (Potomac Reserve, Dawson Terrace, Palisades Park)

Very few single family homes sell in the Rosslyn area and most are about $1M+

22202 (Addison Heights, Aurora Hills, Oakcrest)

$1M+ Typically buys you a completely renovated house, 3,000 sq ft+, 4+ bedrooms
$700k-$1M Typically buys you a renovated house, 1,500 sq ft – 2,999 sq ft, 4+ bedrooms
$500k-$700k Typically buys you a mostly renovated house, 1,100 sq ft – 1,499 sq ft, 3-4 bedrooms
<$500k Typically buys you an older, somewhat renovated house,<1,100 sq ft, 3 bedrooms

22204 (Alcova Heights, Arlington Heights, Arlington Village, Barcroft, Barcroft Forest, Columbia Forest, Douglas Park, Forest Glen, Glen Carlin, Johnson’s Hill, Nauck Green Valley, Southgate, Virginia Heights)

$700k+ Typically buys you new/completely renovated, 2,000 sq ft+, 4+ bedrooms
$500k – $700k Typically buys you a mostly renovated house, 1,200-1,999 sq ft, 3+ bedrooms
<$500k Typically buys you a house in need of renovations, <1,200 sq ft, 2-3 bedrooms

22206 (Claremont, Shirlington, Oakcrest)

$500k+ Typically buys you a completely renovated house, 1,500 sq ft+, 3+ bedrooms
<$500k Typically busy you a somewhat renovated house, <1,500 sq ft, 2-4 bedrooms

Arlington

ArlNow.com – Arlington Now

Their “About Us” reads like this: Launched in January 2010, ARLnow.com is the place for the latest news, views and things to do around Arlington, Virginia. Started by a Columbia Pike resident who spent the past several years working in local TV news, ARLnow.com seeks to distinguish itself with original, enterprising, up-to-the-minute local coverage.

What their “About Us” doesn’t say: The Editor, Scott Brodbeck, is an energetic, enthusiastic, and innovative journalist who doesn’t sleep. He’s got his ear to the ground on anything and everything in the County that happens. Be it new restaurant openings, gossip, politics, any kind of law enforcement events or news, accidents, traffic…you name it, he’s on it.

Follow ArlNow.com on Twitter @ARLnowDOTcom or find them on Facebook.

McLean

TheMcLeanEar.com – The McLean Ear

Their “About Us” reads like this: Our Mission:  To unite this diverse, wonderful community that calls McLean, VA home. To serve as a town square where all voices may be heard.

We are your old-fashioned newspaper delivered through your computer.  We’ll tell you what’s going on, who’s doing what, and why.  We’ll tell you about your neighbors and the folks who make McLean McLean. We will always be accurate and fair.

What their “About Us” doesn’t say: The Editor, Bobbi Bowman, has over 30 years of journalism experience she’s putting to good use. She’s using what she knows to get dirt (think Real Housewives of DC i.e. McLean), arrests, things to do, news, etc. As a long-time resident of McLean, she wanted a place for people to know what’s going on in their own backyard.

You can find them both, along with my blog, on the new TBD.com Community Network.