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Winter 2012 Market Update
Foreclosures are already bank-owned properties and most of the time, you can close on a bank-owned property in less than 60 days. If you are considering short sales, do your homework, These transactions take quite a lot of time to materialize and many ntimes the buyer gets tired of waiting to hear on a response from the lender(s) as to whether their offer will be accepted, countered or rejected.
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| Average Home Price | $350,000 - View Graph Trend |
| Average Price Compared to Last Year | Down 25-30% |
| Average Time on Market | 60-90 days |
| Prices As % of Asking Price | 85-90% |
| Market Trend | Increasing |
| Buyers’ or Sellers’ Market | More sellers than buyers |
| Multiple Offers? | Yes |
| Housing Inventory | Good supply - Some Prices |
| Greatest Activity | First Time Buyers |
| Reason to Buy/Sell | Other |
| Housing Hot Spots | Arlington, Alexandria, Fairfax |
| Average Sold Price | $350,000 - View Graph Trend |
Ashburn 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.
Click here for full article...
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.
Click here for full article...
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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%
Home Values
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