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Archive August 2009

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Finally! Positive Numbers!

by Jim Stakem 8/13/2009

belmont country club, loudoun county, ashburn, sterling, leesburg, round hill, south riding

July broke the long slump, if only by a little bit. The average sale price in our survey INCREASED in July! I wouldn't consider my house an ATM and plan on using the equity, it only went up 1%, (but at this point I will take anything and the trend is up.) I don't really believe values actually went up. What I believe really happened is a slight thaw in the higher priced market combined with less underpriced property on the market. These are both very positive signs!

We are definitely not out of the woods yet. There are a number of things which are still problems. What are banks going to do with their large inventory of foreclosed homes? Will rising unemployment trigger further foreclosures? What are interest rates going to do? Will the extremely conservative appraisals continue to dampen the market? These and other trouble spots need serious attention but at least we are moving in the right direction.

One major worry in this month's statistics is the huge decline in the number of settled sales. There was a 27% decrease in transactions. This appears to be because of the supply in the lower priced listings. The demand still seems strong however we just don't have the product to meet the demand.

 

Want to sell a $1M house? Not now!

by Jim Stakem 8/7/2009

loudoun county, million dollar, ashburn, lansdowne, belmont country club, lowes island, trump national

This is not the time to sell a $1,000,000+ house in Loudoun County! The June statistics from MRIS show that we have a 27 month supply of homes above $1,000,000! The upper price ranges remain virtually frozen. The price range that is moving is $700,000 or below, with 3-5 months supply on the market.

 

Belmont Country Club - Guests Beware!

by Jim Stakem 8/2/2009

ashburn, virginia, belmont country club, towing, loudoun county, ashburn

Belmont Country Club's new towing policy creates a lot of problems for guests, especially unexpected guests! If you park on the street between 1:00AM and 5:00 AM your car will probably be towed. There are no signs to advise you of this policy and even if there were it would be difficult to see them in the dark. There are also other restrictions which can trigger automatic towing of your car as well. If you are visiting in Belmont Country Club make sure you know the new policy adopted by the HOA.

 

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