Lake Ridge Virginia Market Update - "Learn What's Happening In The Local Real Estate Market." I don't know about you, however when I go shopping at the local TJ Maxx or Marshalls, I know when the new stock comes in, that I have the best selection. I am thrilled when I get to look at the newest products  first, and I am not looking at left overs or things that have been past up by others over and over.

Well, if you are thinking of buying or selling a home. Did you know that you can position yourself to know what homes just came on the market? Well you can. Take a look at what is happening.

Currently there are:

• 116 Properties listed for sale in Lake Ridge Virginia area
•  47  Homes in Lake Ridge Virginia went Under Contract in January 2012!
•   8 were Short Sales
•  11 were Forecloure Homes.
•  21 Short Sale Opporunities are still Active For Sale
•   9 Foreclosures are still Active For Sale

Price ranges are from $84,000 up $845,000. The average single family home is priced in the $340,000 price point. Even homes that have been sitting for months are now going Under Contract.

For me personally, I listed two homes in the past two weeks in Lake Ridge Virginia. Both were in the Westridge Subdivision. One home was a starter single family home priced at $400,000 ( shown on right) and that home received mutiple offers within 48 hours of being listed.

The other was a $845,000 luxury acreage home in Westridge Subsivision and that home went under contract in less than two weeks! Take a look

If you would like to know "what's happening in the Lake Ridge Virginia real estate market" you have a few choices.

1. One sign up to get automatic alerts on what homes are coming on the market. Simply do a Seach For Homes on this website  LakeRidgeVAHomesForSale.Com and Save Your Search. It is that easy.
2. Call me and let's talk about what you are hoping to find call 703-851-3085.
3. Or if you are thinking of selling your home. You can learn more about how we are helping Lake Ridge homeowners time the market for a quick sale. Watch Video Now

While driving up Smoketown Rd today, I saw this gorgeous tree all decorated for the season.

I will feature other Lake Ridge decorations over the next few weeks. Stay tuned...

Luxury Homes Sales Update for Lake Ridge Virginia area homes.

Would it surprise you to know that there have been No Foreclosures in the high end market since June 2011 in the Lake Ridge Virginia area?

Specifically the 22192 Zip Code area!

We're talking about resale homes priced above $500,000...

I did a quick study of the resale market of luxury homes that have listed and or sold since June 2011.

MRIS Data Base the information system that Realtors use on a daily bases shows these stats:

• Zero Homes have been offered as foreclosure sales
• 7   Homes have been offered as Short Sales
• 17 Luxury Resale Homes are currently active for sale 
• 3   Luxury Resale Homes are Under Contract pending setttlement
• 1   Luxury Resale Home is firmly in Contract Status pending settlement
• 21 Luxury Resale Homes SOLD since June 2011 in Lake Ridge Virginia

Average days on market have been less that 60 for most of the year. However the days on market have increased to well over 120 currently locally on resale homes.

This could be because of the new rulings put into place with regard to mortgage amounts or just due to all the rotten weather we have had locally. Hurricane, Earthquake and Flooding did not help in September!

You see as of October 1st 2011.

• FHA buyers who have been fueling the markets can no longer borrow over $625,500. This means a buyer who qualifies to use FHA Financing and has the minimum down payment needed ( 3.5% of the sales price) will only be able to consider homes priced under $648,500.

• Military Transfee's, with PSC orders or veterans who have full VA Eligibility can purchase a home in the  Washington DC Area ( including Prince William County Virginia) up to $818,850 with a zero down payment if they qualify. BRAC transferree's are on the move now. Because of the affordability here in Prince William County Virginia, don't be surprised to see a Veteran make an offer on your home.

• Conventional Buyers- these are prospective purchasers who have a substantial down payment of ten percent or more. Qualifying is a bit tougher however many homes in recent months have sold to conventional buyers.

Currently there are 17 Active Luxury Resale Homes available

For Sale in 22192. View Now

Lake Ridge Virginia in Prince William County Virginia has five elementary schools, two middle schools

   High Schools:

• Osbourn Park High School
• Woodrbidge High School
• Garfield High School -no homes appeared active, even though there are homes in that area for sale. Tell me what you are looking for. The listing agents are just getting lazy!

Elementary Schools:

• Westridge Elementary
• Springwoods Elementary
• Old Bridge Elementary
• Antietam Elementary
• Rockledge Elementary

            Middle Schools: 

• Lake Ridge Middle
• Woodbridge Middle- the IDX  search today, did not show any active homes with Woodbridge Middle checked as the school.  Sometimes this happens when the listing agent does not enter school information or just says Call School Board. I can do an an intensive search for you.

I have the power to enter the elementary school, the middle school and the high school or even to map out the boundries to create your search. So don't hesitate to call me and share with me what you hope to find. 

Good Morning Everyone, it's all good news this week as we head into a beautiful fall weekend here in the Prince William County Virginia. After several days of sunshine ( Thank God!) it seems, lots of good things are happening. 

We were able to share with our purchasers who are in the process of buying 5557 Reagon Ct, in Woodbridge Viginia with a VA Zero Down Loan, that the VA Appraisal came in just above value! It was one month ago the miltary transferee's from North Carolina contacted me after reading my  LakeRidgeVirginiaRealEstateNews blog. They told me they needed a large home with a big yard and plenty of parking.After several days of house hunting, I was able to help them find a home that was perfect for them.  The title of that blog was Relocating Military Family Finds Single Family Home Under $300,000 in Woodbridge Virginia -Read More 

We had great news for two families yesterday. We listed an Old Bridge Estates Townhouse here in Lake Ridge Virginia.  The  military family who placed an application were approved to rent for $1650.00 a month. The landlords, who have never ever dreamed they could buy a move-up home and rent out their Old Bridge Estate townhouse, were thrilled that the process went so quickly. I met the owners at an Open House I was hosting in Westridge back in March of this year. Over the next few months they looked at homes, placed offers and it was Erick Blackwelder who helped them secure a wining offer on a  "gorgeous home" off Hoadly Rd. They moved in a month ago and just love it! If you are thinking it might be time to explore whether you can me a move-up buyer and rent your current house, call me. Let me crunch the #s for you.

We were able to share with the buyers of a Listing we have Under Contract in Westridge Subdivision that the owners are finally HAFA Approved!  The sellers request for short sale approval is in the final stages with the bank. The bank has everything they need, now we wait for the Short Sale Approval Letter.  Buying or Selling a short sale can be a long process. This home went under contract back in  May 2011.

We were able to call our Buyer Clients who are purchasing a HAP Short Sale Home at 13193 Mattapony Ct, Woodbridge Virginia that the seller has decided to repair the items noted on the home inspection. This does not happen very often when dealing with a short sale. However in this situation the owners have been transferred, that is the hardship, not financial distress. It's all good. That said...everyone is still waiting with baited breath for the appraisal results to come back. Stay tuned...

We have two sets of home buyers scheduled to house hunt this weekend. So far, each of the homes the prospective purchasers want to look at are still showing Active in the MLS System! That's always great news for any home buyer.

If you need a good Realtor in the Lake Ridge Virginia or surrounding area's to help you find a home, sell your home or rent your home, please don't hesitate to give me a call at 703-851-3085. It will be my pleasure to assist you.

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.

Many of you who in live in the Lake Ridge Virginia area know Pat. She is a long time original owner in Westridge Subdivision. Well on Friday, her journey of selling her large Westridge home and downsizing to her smaller home was finally completed. She settled on her new home!

This is the smile of woman who is very happy and tickled to be buying a brand new home! Now she gets to do all the fun stuff. Nest!

Below is the home that Erick and Company sold for Pat just a few months ago. It was located at 12291 Tilney Ct, Woodbridge Virginia.  It was early in February 2011 when she had grown frustrated with trying to sell her lovely home in Westridge. She had been on the market for months with no offers. When she asked me if I could help her sell her home, I said "Of course I can sell your home. It would be my pleasure" Once I listed her home for sale, and lauched Erick and Company's  marketing campaign, the home sold quickly. Within a few weeks Pat received an offer she just couldn't refuse.

Click on the flyer below to learn more about we are helping local homeowners sell their homes. I also explain by video the Top Ten Reasons to consider listing your home with Erick and Company. Listen

Pat purchased a brand new Ryan Home. However, in order to get the new home and lot that she wanted, she had to do a temporary move. Temporary moves are never fun, however some homes are just worth the wait. With the help and support of her family and Westridge neighbors, Pat was able to put her life on hold for a few months. The photo below is of the kitchen in the stunning Mozart Model. We had to go to Gainesville to see this model. Once she saw the model home she was SOLD,so we headed back to Woodbridge to meet with a Ryan sales person to write up the contract. Lucky for Pat the home she liked the best was being built just behind Westridge at Reids Prospect. The floorplan is amazing. A very open concept home with a huge social kitchen, lots of windows, three finished levels and a two car garage!

Not sure you can afford a brand new home? Well check out this video that Ryan Homes has showing you three home buyers who thought the very same thing. WATCH VIDEO

"Not sure if you should buy new or a resale home? Well, let's talk about your situation, your budget, your timeline and I will help you figure out what is best for you. Remember, this. I work as your Buyers Agent and I only work for you. Regardless if you buy new or a resale. It doesn't cost you a penny to have a Top Producing, Experienced Realtor working for your goals"

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

It's time to break down the numbers. As a full time real estate professional, I have access to all the data anyone could ask for with regard to the real estate market condition, recent sales and activity. So I thought I would share what's really happening in the local Lake Ridge, Virginia area more precisely the 22192 zip code area.

Stats are an important part of buying a home and selling a home. For example when I come to list your home I want to give you the seller a realistic view of "what's happening not only in your subdivision but the overall zip code area." This will help you understand the big picture. For example if you have a luxury home and you want to price it at $810,000, my recommendation based on the data would be "are you sure? If so you must be willing to sit on the market for quite some time! The numbers don't lie!"  Starting with a higher price can be the one thing that keeps your home on the market for months versus proudly displaying a SOLD sign within a few weeks. Notice between the $500,000 and $800,000 price range only seven homeowners closed on their homes in June 2001! Yet their are more than 35 active homeowners in that price range trying to sell. Competition is steep!

So what do the stats tell us. Alot! If you look at the single family homes in 22192 priced in the $300- $399 price range, the active inventory heading into July was 26 homes. So that is less than a two months supply of homes on the market. If this keeps up sellers will be paying less closing costs for home buyers and standing on their price. Note: for those sellers whom are motivated... offering closing cost assistance to first time home-buyers is always a good idea!

So fast forward to August 10th, 2011. You may ask "what's happening right now in the local Lake Ridge Virginia real estate market."

Well today in the 22192 Zip Code area their are 82 Detached Homes For Sale. Take a look right here

• 17 detached homes are priced under $300,000! (Brisk Price Point- 13 Under Contract -Pending Settlement!)
• 22 detached homes are priced between $300,000 and $400,000 ( Brisk Price Point-20 -Under Contract!)
• 24 detached homes are priced between $400,000 and $500,000 ( Brisk Price Point-14-Under Contract!)
•  7 detached homes are priced between $500,000 and $600,000 ( 3 - Under Contract) 
•  6 detached homes are priced between $600,000 and 1 Million Dollars ( 3 -Under Contract!)
•  6 detached homes are priced between 1 Million and 2 Million Dollars. ( None- Under Contract...)

So in a nutshell. If you own a single family home in the $300,000 to $500,000 price range and you are thinking of selling...your timing is great. If you are a prospective buyer and you are looking for a single family home in Lake Ridge priced between $300,000 and $500,000 be prepared to put your best foot forward, get pre-approved before we submit your offer and be prepared you might have some competition!

Curious what your home might sell for? Find Out Right Now Start Here 

                                           Have a question? Let's talk contact me by email  or call 703-851-3085.

Contact Peggy James or Erick Blackwelder  of Erick and Company  ofExit 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.

Have you ever wondered "what happening to home values in the Lake Ridge Virginia area?"You hear the news reports of double dip price reductions, yet you go through Lake Ridge on any given day and you see Sold Signs in your rear view mirror.

Well let me show you.I just went back into the Realtors MLS Database to give you an idea of what our locat real esatate market is really like. The statistic's below is a snapshot of how many single family home are currently active, under contract or that have settled since March 1st, 2011.

                        So what does this mean. It means the market is in a correction market.

• Days on market are coming down
• Many homeowners are getting 96% of List Price
• Buyers are still asking for closing costs. Most sellers are still assisting buyers with closing costs. ( that is the subsidy column- the higher the sales price the higher the subsidy)

stats provided by MRIS

If you have any questions about the real estate market in and around the Lake Ridge Virginia are, just give me a call. It doesn't matter if you own a condo, townhouse or single family home.If I don't have the answer you seek, I will do my best to find it. If you or someone you know is thinking about selling, don't hesitate to call. We are currently accepting listings to sell. Erick and Company does not collect listings. ( get as many as we can and let them sit)  Our goal is a home under contract in thirty days or less. Learn more about how Erick and Company can Sell Your Home Fast

                             Find Out What Your Home is Worth Today-Ask Peggy

"We Know Woodbridge Virginia and surrounding area's! Do You Need Help?  "  

  Have a question? Let's talk contact me by email  or call 703-851-3085.

Contact Peggy James or Erick Blackwelder  of Erick and Company  ofExit 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 . 

Brisk Rental Market, Positive Cash Flow, Less Than 30 Days To Rent Your Lake Ridge Virginia Home...

This is the message I have been able to give several townhome owners in the past month.

The rental market in the Lake Ridge Virginia area is quiet brisk. Many landlords are able to command a rental payment greater than their mortgage payment. People are seeking long term leases for two to three   years.

Have you been dreaming of buying a larger home? Have you ever thought about renting your home?
It might be worth exploring the possibilities.

• The BRAC has brought an influx of people to the area.
• Many of these folks own homes eslewhere they cannot sell
• This is the driving force in today's brisk rental market
• How much can you rent your townhome for? Call me, let's talk....

Here are the current rental statistics for Lake Ridge Townhomes. 

                        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 703-590-2252(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