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Arlington Real Estate Market Trends – Virginia

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Arlington Real Estate Market Conditions and Trends

Homes for Sale > Real Estate Market > Virginia Real Estate Market > Arlington Real Estate Market

Winter 2012 Market Update There are many properties known as Short Sales on the market. There are many things that can go wrong with a short sale. For example, mortgage holders often lose money through a foreclosure but many times there may have been private mortgage insurance on the loan and the mortgage holders may go ahead with the foreclosure since it won’t be as much of a loss. Many short sales on in our market have 2 mortgage holders (one is typically the home-equity line of credit) and this lender can kill the sale if they don’t feel that they are getting enough out of the transaction. In my opinion and experience, if you are looking for deals and don’t want to waste your time, go for the foreclosures that are already owned by the bank.
Average Home Price	$450,000 - View Graph Trend

Average Price Compared to Last Year	Down 10-15%

Average Time on Market	30-60 days

Best Selling Price Range	$400,000 - $449,000

Worst Selling Price Range	$700,000 - $749,000

Prices As % of Asking Price	90-95%

Existing Home Prices for the past 90 days are?	Decreasing

Market Trend	Decreasing

Buyers’ or Sellers’ Market	More buyers than sellers

Buyer Activity for the past 90 days in Arlington is	Increasing

Seller Activity for the past 90 days in Arlington is?	Decreasing

Multiple Offers?	Yes

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?	20-25%

Is Financing Available For Qualified Buyers?	Yes

Comments on Financing For Qualified Buyers	Low down payment programs and the lowest interest rates this year.

Housing Inventory	Limited Supply

Greatest Activity	Repeat Buyers

Reason to Buy/Sell	Lower prices with good selection and competitive interest rates creates a perfect time to buy in Arlington!

Nearest Metro Area	Washington DC

Housing Hot Spots	Arlington, Alexandria, Fairfax

Average Sold Price	$450,000 - View Graph Trend

Arlington Local News

Sluggish housing market in line for a better 2012, according to quarterly survey

The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.

The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.

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Mortgage Rates

– Feb 13th, 2012 –
---------------------------------

30 yr. fixed rate: 3.89%
15 yr. fixed rate: 3.21%
30 yr. jumbo rate: 4.60%
15 yr. jumbo rate: 3.96%

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Trey Scott

Keller Williams Realty

703-835-1144

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(NOTE: Because current market conditions can change rapidly in any given marketplace, please check with the exclusive HouseHunt, Inc., real estate agent for this territory before acting on this information.)

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