Every time I see this floor plan I like it but this is the third time I have seen it and this time at a different price point. Location is the driving force behind the price of a home, but I do find it interesting that I have seen basically the same home three different times in the last month and this time the price point was much higher.
The question though becomes is this location any better. The last time I saw the home I was off of Braddock Rd. in Burke and the time before that I was in Vienna. Now of the three locations I would expect Vienna to be the highest but it wasn't. This time I was in Fairfax off of 29 in a neighborhood where the average sold price over the last calender year was $481,313.00.
Tuesday, February 28, 2012
Friday, February 24, 2012
Bonus Previewing
Thursday afternoon at the office found me with a lot of time and not much to do and whenever there isn't much to do, or I have finished everything I did have to do, it is time to make something to do. I headed just down the street for some bonus previewing for the week in the Poplar Estates and Poplar Tree Estates subdivision. As there isn't much difference in the types of houses in the subdivisions I am deciding to analyze them as one.
In total there are five active listings and two under contract which gives the subdivision a market absorption rate of 2.5 and of the six that sold in the past three months the average sold price was $517,775.00. Those properties stayed on the market for an average of 104 days and received 95.67% of list price.
It is an interesting neighborhood with a good variety in style of home. Having been in a number of the homes I can point to similarities in the floor plans, but they are different enough that no two homes were exactly alike. The best floor plan was one of the ones in Poplar Estates. It had a large master bedroom suite with two large walk in closets and a large master bedroom.
Aside from having a large master bedroom the second, third, and fourth bedrooms were larger than average and they all had big closets. The main level was just as nice with a sitting room to one side of the entrance and the dining room on the right. The sitting room had glass doors that opened to the family room which sat next to a fully upgraded kitchen. In total the taxable living area for the home is 2,622 sq. ft. and it does have a finished basement.
All of the homes previewed in that neighborhood were nice but that is the one that stood out. There was one for sale as well on the same court and it had a unique floor plan with an open entrance with cathedral ceilings and a step down from the dining room into the family room. I liked the unique floor plan and how open and inviting the home felt when it was entered. I am someone who likes uniqueness in a property especially in a designed neighborhood and this floor plan really stood out.
Both the Poplar Estates and Poplar Tree Estates subdivisions would be a good place to show homes to someone looking in the Chantilly area in the mid-500's to mid-600's price range. There were advantages to all the homes seen on Thursday and now I am better armed to discuss that area with potential buyers.
I learn something new in real estate everyday
so you don't have to
David Huzzard
www.SuperNoVaRealty.com
In total there are five active listings and two under contract which gives the subdivision a market absorption rate of 2.5 and of the six that sold in the past three months the average sold price was $517,775.00. Those properties stayed on the market for an average of 104 days and received 95.67% of list price.
It is an interesting neighborhood with a good variety in style of home. Having been in a number of the homes I can point to similarities in the floor plans, but they are different enough that no two homes were exactly alike. The best floor plan was one of the ones in Poplar Estates. It had a large master bedroom suite with two large walk in closets and a large master bedroom.
Aside from having a large master bedroom the second, third, and fourth bedrooms were larger than average and they all had big closets. The main level was just as nice with a sitting room to one side of the entrance and the dining room on the right. The sitting room had glass doors that opened to the family room which sat next to a fully upgraded kitchen. In total the taxable living area for the home is 2,622 sq. ft. and it does have a finished basement.
All of the homes previewed in that neighborhood were nice but that is the one that stood out. There was one for sale as well on the same court and it had a unique floor plan with an open entrance with cathedral ceilings and a step down from the dining room into the family room. I liked the unique floor plan and how open and inviting the home felt when it was entered. I am someone who likes uniqueness in a property especially in a designed neighborhood and this floor plan really stood out.
Both the Poplar Estates and Poplar Tree Estates subdivisions would be a good place to show homes to someone looking in the Chantilly area in the mid-500's to mid-600's price range. There were advantages to all the homes seen on Thursday and now I am better armed to discuss that area with potential buyers.
I learn something new in real estate everyday
so you don't have to
David Huzzard
www.SuperNoVaRealty.com
Wednesday, February 22, 2012
Tuesday, February 21, 2012
Previewing Review 2/21/12
The best way to learn something new is to see something new and previewing homes is the best way to do that. Today I ventured out to the land of Reston. I remember back in High School when the Reston Town Center was first starting to become a place people wanted to go, and Reston felt like some foreign world that needed to be explored. Now Reston is one of the main attraction of Northern Virginia.
Everyone wants to eat out at the Clyde's or Morton's in Reston Town Center after a long day of playing in the Water Mine at Lake Fairfax before heading to the Perils of the Lost Jungle for some night time mini-golf. Reston has become one of the places to be in Northern Virginia and as such it is very important that I am constantly working to stay familiar with the area.
Everyone wants to eat out at the Clyde's or Morton's in Reston Town Center after a long day of playing in the Water Mine at Lake Fairfax before heading to the Perils of the Lost Jungle for some night time mini-golf. Reston has become one of the places to be in Northern Virginia and as such it is very important that I am constantly working to stay familiar with the area.
Monday, February 20, 2012
A Different World a Few Miles South
Living in Fairfax County I end up working mostly in Fairfax County, but as my slogan is, "I learn something new in real estate everyday so you don't have to." I figure those I want referrals from need to be well informed or at least be able to prove to people that I do my homework. Today I went to work on learning about my sister's subdivision.
The first thing I noticed when I pulled up the active listings is that there were a lot. In most subdivisions in Fairfax county it is good luck to find more than two active listings. In just this one subdivision in Stafford county there are 20 active listings. That is the close to an amount that could be found in some zip codes further north.
The first thing I noticed when I pulled up the active listings is that there were a lot. In most subdivisions in Fairfax county it is good luck to find more than two active listings. In just this one subdivision in Stafford county there are 20 active listings. That is the close to an amount that could be found in some zip codes further north.
Friday, February 17, 2012
Pictures Lie
A picture might be worth a thousand words but in the real estate industry they can be near worthless. Pictures of a property are nice to see and do a good job of giving a basic idea of what it is like, but they don't tell everything. Pictures can be manipulated in a variety of ways. Anyone that has engaged in online dating knows this.
I know how this works as I have looked at pictures and then gone to a property to then return home to review the pictures again. I have seen where they have angled the picture ever so slightly to leave out certain defects in a wall or to not show an old light fixture. I have seen a property that had no backyard and there wasn't a picture online that showed this. These are all things that can only be learned by visiting a property.
I know how this works as I have looked at pictures and then gone to a property to then return home to review the pictures again. I have seen where they have angled the picture ever so slightly to leave out certain defects in a wall or to not show an old light fixture. I have seen a property that had no backyard and there wasn't a picture online that showed this. These are all things that can only be learned by visiting a property.
Thursday, February 16, 2012
What Buyers Want
Spend any time with a buyer and it is very clear what they are looking at. The most important category for anything is price. It is a lot easier for a person to convince themselves to purchase something if it is easier to afford. The next criteria that is most important for a buyer is location. People want to be where they feel comfortable and in an area they like. The third and final aspect a buyer will judge a property on is style and condition. One buyer might not mind doing a little fix-up work while another loathes the idea.
The issue of price is the most important and most obvious factor on which all home buying searches are based. Most people are going to look at all ranges of what they can afford to start out with but then start to settle more towards one price point as they find out which one gives them the value they are looking for. This isn't just important for buyers but for sellers as well. When listing a property it is important to understand the buyers mindset and set your property into a price range in which it can compete with the other properties on the market.
The issue of price is the most important and most obvious factor on which all home buying searches are based. Most people are going to look at all ranges of what they can afford to start out with but then start to settle more towards one price point as they find out which one gives them the value they are looking for. This isn't just important for buyers but for sellers as well. When listing a property it is important to understand the buyers mindset and set your property into a price range in which it can compete with the other properties on the market.
Tuesday, February 14, 2012
Previewing Review 2/14/12
In preparation for an open house this weekend in Burke I felt it would be important to explore a bit of my old stomping grounds and see some of the houses that are currently on the market. It was interesting looking at the houses in that area as I passed by a few neighborhoods where friends of mine grew up. I even ended up in a home that had the exact floor plan of one of my friend's parents home.
As always when I look in an area I want to know what is going on in the market. So, now that I am back in front of a computer I can look up and see that the market absorption rate for the 22015 zip code is 1.14 and for the homes that sold in the last three months were on the market for an average of 68 days and got 96.93% of list price. That makes Burke a fairly healthy market.
As always when I look in an area I want to know what is going on in the market. So, now that I am back in front of a computer I can look up and see that the market absorption rate for the 22015 zip code is 1.14 and for the homes that sold in the last three months were on the market for an average of 68 days and got 96.93% of list price. That makes Burke a fairly healthy market.
Monday, February 13, 2012
Northern Virginia Amenities: Baseball, Burgers, and Beer
One of the things I have found as a Realtor is we have to sometime convince people that we are human. I was trying to ask a question the other day in my condo community while wearing my real estate name tag and it was tough going. The person kept asking me if my client was a tenant or an owner, and it took me about five minutes to make them understand I was talking about my personal dwelling.
At times I am the bad guy. I am the person that overhears your conversation in a restaurant and walks up to you, I am the solicitor hanging market info on your door, and I am the person who cold calls you when all you want to do is relax. I am a person too though and have been on the other side of the equation.
At times I am the bad guy. I am the person that overhears your conversation in a restaurant and walks up to you, I am the solicitor hanging market info on your door, and I am the person who cold calls you when all you want to do is relax. I am a person too though and have been on the other side of the equation.
Saturday, February 11, 2012
Thoughts After an Open House
My first and main thought is that today was cold and windy and I am lucky I didn't lose any signs. The wind made it seriously cold outside and after I was done picking up those signs I am sure I looked like a tomato. The next thought stems from something I mentioned yesterday.
The house I sat open happens to fall within the 22033 zip code I wrote about yesterday, and the happenings in the market in that subdivision can show how even a zip code can be too large a sample size when trying to asses what is happening in your market. The market absorption rate in Foxfield is an even 2.0 with eight active listings and four under contract.
The house I sat open happens to fall within the 22033 zip code I wrote about yesterday, and the happenings in the market in that subdivision can show how even a zip code can be too large a sample size when trying to asses what is happening in your market. The market absorption rate in Foxfield is an even 2.0 with eight active listings and four under contract.
Friday, February 10, 2012
What's Going on in the Market
At Super NoVa Realty I cover a lot of different areas, but like many people I am going to start by focusing on where I live. I currently reside in the 22033 zip code of Fairfax County. It is a good place to live. I am close to Fair Oaks Mall, Wegmans, two movie theaters, a couple Five Guys, and lots of other interesting entertainment options.
The market around here is like most markets in Northern Virginia. Inventory is low. Combine this with low interest rates and a truly interesting market has been created. It is called a sellers market because of the 1.28 market absorption rate, but with the prices still down from the 2006 height and interest rates near an all time low it is working like a buyers market.
The market around here is like most markets in Northern Virginia. Inventory is low. Combine this with low interest rates and a truly interesting market has been created. It is called a sellers market because of the 1.28 market absorption rate, but with the prices still down from the 2006 height and interest rates near an all time low it is working like a buyers market.
Thursday, February 9, 2012
Mining Fair Ridge
Most real estate professionals call it farming. I am not fond of that term and prefer to make up my own. Farming is cultivating something from scratch. Plowing the land, planting a seed, taking care of it why it grows, and finally harvesting it. That would be more true of a real estate professional if they move a family from an apartment building into a townhouse and then follow them their entire lives moving them from family home to empty nest home and then to retirement home.
Going after an already existing area is more like mining. The people and the homes are already there. All the agent needs to do is the hard work to let them know that we exist and to stay current in their minds when they do decide the time is right for them to move.
Going after an already existing area is more like mining. The people and the homes are already there. All the agent needs to do is the hard work to let them know that we exist and to stay current in their minds when they do decide the time is right for them to move.
Tuesday, February 7, 2012
Previewing Review 2/7/12
This weeks tour of homes took us to the Eastern Herndon and Oakton areas of Fairfax County. The first house we visited was a listing of a fellow agent in this office. They are having some difficulty with pricing from their clients and wanted other agents' thoughts. The outside of the home is gorgeous and has massive curb appeal. The inside of the house past the foyer has issues though.
The seller did very little work and almost all the walls are damaged, need minor spackling and nail remove, and need to be cleaned. When listing a house is listed with an agent it is a partnership and both parties need to work together to get as much out of the transaction as possible. If a home is not only improperly but also not in show condition then it will end up sitting on the market for far too long.
The seller did very little work and almost all the walls are damaged, need minor spackling and nail remove, and need to be cleaned. When listing a house is listed with an agent it is a partnership and both parties need to work together to get as much out of the transaction as possible. If a home is not only improperly but also not in show condition then it will end up sitting on the market for far too long.
Monday, February 6, 2012
Condo Fees can Effect your Purchase Power
I have to admit from the start that I live in a condo and I have been in and out of a good number of condos in the last few weeks. I like condos and a lot of my clients like condos. It is convenient to own a condo. There is no lawn to mow, roof to take care of, gutters to clean, leaves to pick up in the fall, a driveway to shovel in the winter, or a house to paint. There is a lot of upkeep that comes with owning a home and condo owners only have to do the inside half of it.
There is a downside to all of this or a payoff if you want to think of it that way. All the benefits of owning a condo come with a price and that is normally somewhere between $200-$450 a month. Monthly condo fees are the dues people pay every month in order to not have to worry about a lot of the maintenance that comes with home ownership.
There is a downside to all of this or a payoff if you want to think of it that way. All the benefits of owning a condo come with a price and that is normally somewhere between $200-$450 a month. Monthly condo fees are the dues people pay every month in order to not have to worry about a lot of the maintenance that comes with home ownership.
Saturday, February 4, 2012
NoVa Amenities: Frying Pan Park
On a quiet morning one spring my wife and I were trying to think of something to do together. Out the window the sun and green grass teased us with its inviting nature. We decided that we would take advantage of the lovely day. We made some sandwiches, leashed up the dogs, and headed out to Frying Pan Park.
Frying Pan Park is not as crowded or as busy as its better known counterparts in the Northern Virginia region like Burke Lake Park, but the lack of a crowd is one of its charms. When my wife and I arrived we spread out our food at a picnic table. The sun and gentle breeze tickled our skin. The heat of the day wrapped us in its warmth and comfort, and every time it threatened to become oppressive an early spring breeze would visit to offer relief.
Thursday, February 2, 2012
Super NoVa Realty
I choose the name super NoVa realty for a couple of reasons. The first and most important reason is it is the area that I hope to service. I don't want to limit myself to just the county of Fairfax and sometimes venture into Arlington county or the cities of Alexandria and Falls Church. I want to help people find homes from as far south as Fredericksburg and as far west as Winchester all the way north and east to the borders of Maryland or DC.
The second reason I choose the name super NoVa realty is it described what is about to happen in real estate. With market absorption rates as low as under two months in some areas and with interest rates at record lows demand is far out pacing supply. According to the rules of supply and demand when demand is higher than supply then prices will go up.
The real estate market finds itself in an interesting situation. Trends show us that prices have begun to hold steady in most areas and it will be the real estate market that leads people out of this recession. The end is in sight and it is possible that as soon as this summer the market is going to beginning trending upwards. It is even possible that we are close to another market explosion.
If you would like to know the market absorption rate for your area or a free price trend analysis then please contact me through my main site www.SuperNoVaRealty.com .
The second reason I choose the name super NoVa realty is it described what is about to happen in real estate. With market absorption rates as low as under two months in some areas and with interest rates at record lows demand is far out pacing supply. According to the rules of supply and demand when demand is higher than supply then prices will go up.
The real estate market finds itself in an interesting situation. Trends show us that prices have begun to hold steady in most areas and it will be the real estate market that leads people out of this recession. The end is in sight and it is possible that as soon as this summer the market is going to beginning trending upwards. It is even possible that we are close to another market explosion.
If you would like to know the market absorption rate for your area or a free price trend analysis then please contact me through my main site www.SuperNoVaRealty.com .
Wednesday, February 1, 2012
You Don't Have to Wait to Spring to Sell
It might surprise a lot of people to know that the current market is classified as a sellers market. They might feel this way for a couple reasons. The first and most important is that the media doesn't report houses that don't burn. Meaning that good news doesn't sell. The national news is much worse than local real estate news. The prices in this area were not effected nearly as much as those in other areas of the country.
Which leads directly into the second reason someone doesn't know that this is a sellers market. It could just simply be no one has told them. Realtors are doing the best they can to inform as many people as they can reach that inventory is low and if a person lists their house now at a fair price it will go off the market quickly. In my area the average days on market is right around 40 and houses are selling for 96% of list price.
Which leads directly into the second reason someone doesn't know that this is a sellers market. It could just simply be no one has told them. Realtors are doing the best they can to inform as many people as they can reach that inventory is low and if a person lists their house now at a fair price it will go off the market quickly. In my area the average days on market is right around 40 and houses are selling for 96% of list price.
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