Real Estate Loudoun & Northern Virginia

The Dulles Area Association of Realtors statistics show Loudoun County sales continuing the upswing.  Days on market stayed at 44 as it was in April. This is the lowest we have seen since late 2005.  Inventory is still relatively low and has dipped to 2373 active listings as compared to 2434 in April.  Average sales price as compared to list price is up to 95%.   This is positive news for sellers. Prices are still lower than they were in past years so buyers should be encouraged to jump on historic lows in interest rates.  Worried that you missed the tax credit?  Sue Puleo (Our saavy broker) pointed out this week that buyers who purchase now are looking at rates almost a whole percentage point lower than in April.  Over the life of a 30 year fixed loan that could be tens of thousands of dollars in savings!

I had a very exciting day yesterday negotiating THREE offers on our listing in Dominion Valley in Haymarket, VA. This home has 6000 square feet of finished space on 3 levels, built originally by Toll Brothers in a gated community.  The house shows well and was priced well to begin with.  After 74 days on the market with plenty of showings but no offers, my very motivated sellers just wanted an offer.  We dropped the price a few times and finally found THE magic number.

All of a sudden that became the only house everyone wanted.  How did we do it? WHAT did we do?  Several factors were at work here.  Price is key but how the house shows and it’s location and pricing as compared to the rest of the neighborhood are all very important.

My sellers are extremely happy, the buyers are extremely happy. Pricing correctly creates a win win for all!

More great news for buyers and sellers in Loudoun County. April market statistics show continued improvement in our housing market. The number of active listings went from 2184 in March to 2434 in April. Of those, 430 homes sold as compared to 409 in March. It took an average of only 44 days for homes to sell compared to 65 days in March. The average sales price compared to list price was up to 96.23% compared to 93.92% in March. Rates are still very good – buyers don’t delay. If you are a seller considering what to do give me a call for a complete market analysis!

What a gem! Must see inside! 3 bedrooms 1 and 1/2 baths. Kitchen with farmhouse cabinetry and granite countertops. Hardwood flooring throughout with wide plank wood flooring on the upper level.  This home was built in the late 1800′s but it has been nicely renovated.   Upstairs laundry room, Victorian touches. Tastefully decorated. Fully fenced 1/4 acre lot with deck.  Town water and sewer but NO town Tax! You won’t be disappointed. For more photos go to featured listings on my site: www.kellygaitten.com or call 703-966-7036 to setup your showing today.

MLS: LO7289109.

I met a wonderful client this week – she’s moving in from Atlanta GA. Top of her list is golf course or mountain views. That leaves many possibilities.  We toured over 15 homes in 2 days.  Here are a few of the highlights:
43604 Beaver Creek Terrace in River Creek for $575k listed by Long and Foster. Gated golf course community. This home looks like it could have been the builder model.  It shows extremely well. End unit, backs to fairway. 4 finished levels- my client loved it.   18091 Turnberry Drive in Stoneleigh for $849,900 listed by Coldwell Banker. On the 14th Tee with incredible panoramic golf course and mountain views. This is a superb listing that has all the high end finishes you would expect in Stoneleigh and tons of curb appeal!  This home is situated on a wooded lot, but the house is crafted very well in Old Williamsburg style. Hardwood flooring, authentic fixtures, cabinetry and wonderful layout make this home an exceptional buy.

I had a wonderful lunch today with my good friends Marilyn and John Burroughs. John is an incredibly talented architect and his wife and partner, Marilyn, is a nationally published interior designer. Together, they are New Leaf Collaborative and they are magic.  I met John over 10 years ago when he designed our addition and renovations for our Leesburg home.  He has such vision and understanding of what people really want and need.   I was in awe looking at some of the designs they brought to share with me over a casual lunch at Magnolias.

If you need a fantastic architect/design team look them up. They are always my first recommendation.

NewLeafCollab.com

Adorable cape cod with many recent updates. Main floor master has walk in closet. Updated full bath with custom tile and soaking tub. Neutral paint and decor throughout. Cozy family room. Separate dining area. Kitchen w/breakfast bar/island. Loads of storage, great use of space with closets and cupboards in all the nooks and crannies. Must SEE.  Fantastic commuter location near rts 287/9.  MARC train about 20 minutes away.  Call Kelly to schedule your showing. This one won’t last long!  LO7253205 for more photos and info.

Prudential Carruthers Realtors

Kelly Gaitten, Associate Broker, ABR

703-966-7036 cell/direct

Gorgeous “Southern Living” estate home with wrap porch and flagstone terrace overlooking tranquil pond.  Located in enclave of custom homes in Hamilton VA.  

No detail overlooked.  Hardwood flooring throughout, crown moldings, coffered ceilings, thoughtful  lighting, dramatic two story spaces.  Five bedrooms, Five full baths and two half baths.  Generous living areas with upper level laundry room.  Incredible Viking decorator kitchen has contrasting cabinetry on island and granite countertops. This well appointed kitchen has all of the upgrades you would expect.   Fully finished basement has media room, billiard room, and wet bar.

Three finished levels with over 7,000 square feet of luxury living in a peaceful setting, yet with easy access to schools, shopping and the Route 7 Bypass.

Paved driveway leads to the attached 3 car side load garage.  The detached 2 car garage has upper level bonus space ready for your final finishes as a studio or home office.  Irrigation system and generator.  Pond fronts the property with your own private pier.  Flat, tree lined back yard.  Offered at $1,100,000

I’ve been saying it for months…Loudoun Real Estate is in recovery.  The facts are finally in!   Loudoun County housing  statistics for December (from the Dulles Area Association of  Realtors) show that the average days on market for a home, from listing to contract, was 58 days.  That’s almost a 50% reduction from the 104 days on market we had this time last year.  Additionally, the number of active listings in December 2009 fell to 1806 from 2346 a year ago.

Supply is lower and demand is higher.  This correlates to the 95% of list prices vs sales price we had in December 2009, as compared to 91% last year.  Overall, the National Association of  Realtors reports a 44% increase in existing home sales for the year.  Finally, Congress extended and amended the first time home buyer tax credit:

• Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
• Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.

Buyers are taking advantage of continued low interest rates which are expected to start climbing this Spring.   Prices are still very reasonable. However, low inventory of available homes and increased demand, have caused  prices to creep slightly higher.  In some price points we are seeing multiple offers.  All of these factors are giving sellers increased confidence.

I have been busy with listing appointments in December and January and currently have 11 listings, with more coming soon.    I anticipate this Spring to be one of the busiest we’ve seen in years.

If you are thinking of selling, give me a call for a Market Analysis.   My buyers receive auto email of preferred listings so we are sure not to miss a thing!

Info sources: Dullesarea.com, Realtor.org

Gorgeous University built home in Enclave right in the Town of Purcellville.  Convenient to everything!

3 Finished levels with hardwood floors on entire main level and 2nd level hallway.  High end finishes with crown mouldings, columns and 9ft ceilings on  main level.  The gourmet kitchen is light and bright with a large work space, island and butler’s pantry.  The breakfast room overlooks the deck and fenced back yard.  Spend cozy nights in the family room by the gas fireplace.   Stop by the main level office or sitting room on your way up to the second level.  The generous sized master has a tray ceiling and walk in closet.  The master bath has a luxury garden tub, separate shower and water closet.  The basement is fully finished with a den and full bath in addition to a large rec room area that walks out to the back yard.  The garage is a two car detached and located in your own private alley.  A standard for this charming neighborhood.   LO7231984