Lake Ridge Virginia Real Estate Help For Sellers and Buyers

This week has been a week brisk and it is only Tuesday!

I meet a young couple in Gainesville to house hunt on Sunday. They had several homes to look at. Three were promising however one really captured their attention. It was a single family home with a two car garage on a nice lot that had just come on the market the day before. The owners had only purchased in 2010 and were selling already for a (break even price!) My recommendation was make a full price offer, ask for some closing costs. The reason is  inventory levels were low. Get the home under your control and let the appraisal process dictate the final sales price. These were first time buyers  who really needed to think about it. Yesterday the buyers said,they wanted to go for it. But wanted to make an offer lower, since the house needed painting and carpets needed to be replaced.

***Sadly, the home they really like and could see themselves living in, went Under Contract just hours before they decided***

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I received a call Saturday evening from a woman who found a home online in Manassas Virginia. I called her right back ( I always do!). You see she had left the PW# on my voice mail so I could do the research before I called her back. In talking with her she said she and her husband have been pre-approved for up to $400,000 and when searching FranklyMLS.com she saw her "Dream Home".  She asked what does it mean when it says the home can only be purchased with an FHA 203K B Plan or Cash. I explained the homes has sustained some kind of damage that lead the listing agent to list as a fixer upper. Their is something that would prevent a buyer from attaining FHA or VA Financing. The FHA 203K B plan is a fixer loan. Well that peaked her interest, since her husband is very handy. I said let's go see it tomorrow before it is gone. It was an appointment only show, so I contacted the listing agent for a time to show.

***Sadly, the listing agent wrote me that the seller has requested no more showings. They had four offers to choose from!***

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I've had four pre-listing appointment since last Thursday.  So their is a silver lining. More and more sellers are learning the current real estate market conditions are very good here in Prince William County Virginia and will be listing soon. This is what I've seen this week.

• A stunning little single family home in Dale City, Virginia ( totally remodeled from top to bottom will be priced under $300,000.
• A two year old single family home in Port Potomac Subdivision between Fort Belvior and Quantico,that boasts three finished levels, two car garage, fenced yard and deck will be priced under $475,000.
• A one level rambler with a large level fenced back yard, two car garage, vaulted ceilings situated on a quiet cul-de-sac lot. This home is located in the heart of Manassas Virginia. This is the perfect downsize home. Main level master bedroom. The home will be under $325,000.
• A single family home in Lake Ridge Virginia. The home is a small starter home on Cotton Mill Drive. Tenants will be moving soon,and the seller is getting ready to list. This home will be priced under $335,000.

If you need help finding a home or you have a home to sell, don't hesitate to give me a call. For those of you looking for a home, I can customize your home search to find exactly what you are looking for. I will set you up in our Home Finder System so you will be alerted every time a home comes on the market in your price range and with the features you want. If you are thinking of selling, find out the value of your home right now.  Simply fill out this form and I will be right back with you with your current home value.

If you would like to know what homes are selling for in your neighborhood. This is a report we can send you to keep you informed. Take a look at the Lake Ridge Virginia sales report

I don't know about you, however I am tired of hearing bad news about the real estate market. So I did a little research for you this morning. Did my blog title surprise you?  Well let me break the numbers down for you. The information below is taken directly from the MRIS database that Realtors use daily to help formulate a value when you are buying or selling a home in the 22192 zip code area.

Currently today September 1st, 2011:

In the 22192 Zip Code area their are 77 Resale Single Family Homes Active For Sale.

The breakdown................

Active Listings For Sale:

• Zero Single Family Homes priced under $200,000 ( that ship has sailed...!)
• 12  Single Family Homes priced between $200,000 and $300,000
• 21 Single Family Homes priced between $300,000 and $400,000
• 24 Single Family Homes priced between $400.000 and $500,000
• 20 Single Family Homes priced over $500,000

Note: there is currently on ONE FORECLOSURE Listings in Lake Ridge Virginia and 11 of the Active Homes for sale in 22192 are being sold as Short Sale Listings.

Under Contract-Pending Settlement:

• 3 Single Family Homes priced under $200,000 ( all are short sale listings)
• 14 Single Family Homes priced between $200,000 and $300,000 ( 9 are short sales)
• 15 Single Family Homes priced between $300,000 and $400,000 ( 7 are short sales)
• 14 Single Family Homes priced between $400,000 and $500,000 ( 5 are short sales)
•  6 Single Family Homes priced over $500,0000  (5 are short sales)

Now looking at the data on the our MRIS Database System, it clearly shows that 171 Single Family Homes went Under Contract and Settled since the beginning of the year.  Now here is the interesting fact.

•  9 Single Family Homes listed as Short Sales have CLOSED!
• 20 Single Family Homes listed as Foreclosure/REO/Bank Owned Homes have CLOSED!

The "Silver Lining!" 83% of Single Family Homes SOLD in Lake Ridge in the past eight months have been healthy sales based on there numbers.  Now that's Good News!

The other glaring fact in these numbers is, if you are considering buying a home and are willing to consider a Short Sale Opportunity...be prepared to wait...and wait...and wait. Banks still have not come up with a system that assist homeowners and real estate agent in getting short sales closed in a timely manor. Average time to close a short sale listings is hovering around four months or longer!

Are you thinking now might be a good time to sell your home?  Simply fill out this form and I will send your own personal market snapshot today.

       "I Know Woodbridge Virginia and surrounding the area's!"

        Have a question?  contact me by email 

Contact Peggy James or Erick Blackwelder  of Erick and Company  of Exit 1st Choice Realty, WoodbridgeVA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252(Office).Give us a call and we can "GET YOUR HOME SOLD FAST"to list your property for sale we service  Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Manassas Park, Haymarket,Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, Dale City, Gainesville, Garrisonville and Triangle area's.

Do need real estate help? My promise to you, we will do everything possible to get your home sold for the highest price, in the shortest period of time with the least amount of stress to you. If you need help feel free to contact me by email  or call 703-851-3085 .

Contact Peggy James or Erick Blackwelder  of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085  (Peggy) or  703-590-2252    (Office).Give us a call and wecan "GET YOUR HOME SOLD FAST" to list your property for sale we service  Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Manassas Park, Haymarket,Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, Dale City, Gainesville, Garrisonville and Triangle area's . 

Erick Blackwelder and myself have learned over the years that consumers love watching the video tutorials that interest them. In fact when they call the office to set up an appointment, most say " I feel I know you already!" I personally love that call.

Did you know that Erick Blackwelder does a New Home Series of Video's. If you're thinking you might want to buy a new home, you, may find Erick Blackwelders Erick's New Home Video Series.  extremely informative. Call Erick with questions at 703-590-2252.

This week Erick shares tips about Pricing Your Home to Sell in today's current real estate market conditions. Listen...

Do need real estate help?Please don't hesitate to contact me by email  or call 703-851-3085.

Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252(Office).Give us a call and we can "GET YOUR HOME SOLD FAST" to list your property for sale we service  Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Manassas Park, Haymarket,Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, Dale City, Gainesville, Garrisonville and Triangle area's .