The real estate market in Alexandria VA is showing signs of recovery in Alexandria VA. As the graph shows the average days on the market is going down and at the same time the prices are going up.
Real estate investors worldwide are convinced the market is at or near bottom and about to shoot up, according the Colliers International’s first survey of global investor sentiment.
Luxury residences at Rosslyn in Arlington VA
Investors from Asia, Canada, Latin America, and Western European say financing is increasingly available, while investors in the Middle East and Eastern Europe make the opposite observation.
While there was considerable disagreement about what “normal” is, the majority of respondents say their respective markets will return to “normal” within 18 months.
Globally, rents are anticipated to hit bottom this year – the first quarter of 2010 for the office sector was the most frequently offered response, followed by the second quarter of 2010 for industrial, and the third or fourth quarter of 2010 for retail.
Source: Colliers International (04/14/2010)
Julie Nesbitt
Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.
Established in 1974 with a mission to reduce homelessness, increase community support and promote self sufficiency, the Good Shepherd Housing and Family Services is operated by a multi-denominational board of directors and staff managing over 70 housing units. Good Shepherd Housing and Family Services is located in the Mount Zephyr Business Center at 8305 Richmond…
According to research economist Jessica Lautz, "More than one-third of all home buyers buy a home for the desire to own. This has been the most cited reason consistently for the last several years, but it is even more true of single female buyers. Nearly half of single female buyers purchase a home because they have a desire to own a home. The second most cited reason for single female buyers in choosing to purchase a home is a change in family situation—13 percent of single female buyers purchase for this reason, compared to 9 percent of all buyers.
Court House Neighborhood in Arlington VA
"In comparison to other household types, single female buyers are more likely to have lived with parents, relatives or friends before buying their own residence, 20 percent compared to 12 percent of all buyers. Single female buyers are also more likely to rent an apartment or house before buying their own place compared to all buyers. Both previous living situations are related to the large share of single female buyers being first-time buyers."
Her research indicates: "The median age of all home buyers was 39 years old, compared to 41 for single female buyers. Among single-female buyers, 58 percent were first-time home buyers in 2009, compared to 47 percent of all home buyers. The median household income for single-women home buyers was lower than that of all other homebuyer household types. Single females reported a median household income of $47,900 in 2008 compared to $73,100 among all home buying households. This difference in household income should not be completely surprising as 68 percent of home buying households are couples – and so perhaps likely to have two income earners. The difference in median income for single women households compared to those for single men is less striking—single men typically made $53,700 in 2008. Additionally, single women households are less likely to have children living at home than couples. Results from the survey show that 22 percent of single women home buyers have children at home, while 38 percent of all home buyers have children at home."
Source NAR
Home prices that approach what they were before the bust are at least five years away, says Peter Morici, a University of Maryland professor of economics.
Carlyle Towers
“I think we’ll see housing values rise 20 or 25 percent and then more gradual appreciation," Morici says.
The problem, he believes, is the oversupply of housing. “Supply is a couple of years ahead of demand,” he says.
Other housing observers were less optimistic. “Foreclosures are still going to bite the market. Given the preponderance of negative housing data, we may see another leg down,” says Joseph Brusuelas, president of Brusuelas Analytics.
Source: Bloomberg, Courtney Schlisserman (03/30/2010)
Home Prices In Arlington Continue To Hike
The housing market in Arlington County is getting more and more expensive as potential buyers continue to have fewer homes and condos to choose from.
Inlet Cove is alongside Route 1 This neighborhood of townhouses is near grocers and eateries Inlet Cove is close to Fort Belvoir, Alexandria, and Potomac Mills shops, in the city of Woodbridge Interior to these properties are multilevel Inlet Cove is serene
Pending home sales increased again in March, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of REALTORS®. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in March, rose 5.3 percent to 102.9 from 97.7 in February, and is 21.1…
Some of the best housing deals are on high-end homes, many over $1 million. Some of them need TLC or they aren’t in the most-coveted locations. But there are plenty of desirable properties and lots of sellers who are getting impatient. Buyers with cash have the best opportunities. Buyers who need a mortgage should move…
The National Association of Realtors recently did a study about the characteristics of home buyers. Some of the findings might surprise you. Thirteen percent of buyers purchased a home with one or more parents and grandparents together with adult children. There were several reasons given for purchasing a multi-generational home. Cost savings; Children over the…
Huntington Metro
A new study contends that only 39 percent of U.S. communities are affordable for typical households when the cost of transportation is included in the calculation of housing costs.
The Center for Neighborhood Technology analyzed the Housing + Transportation Affordability Index, which examined 161,000 neighborhoods housing 80 percent of the U.S. population, and concluded that for most families, transportation is the second-largest household expense.
It is also a fairly unmanageable one, the study concluded, because it is difficult for families to estimate the full cost of a location before they move there. Gas prices and employment demands aren’t very predictable for many.
Factors that can help people control transportation costs include walkable neighborhood streets, access to public transit, and nearby retail.
Source: Center for Neighborhood Technology (03/23/2010)
Here are a few interesting year end facts about Northern Virginia real estate
November's average sales price is UP 1.3% from 2008 to $428,481
In January 2009, the average sales price was down 22.51% to $376,669
MRIS data indicates that the Total Sold Dollar Volume is up 44.3% over November 2008. Similarly the Total Units Sold is up 43.45% over November 2008. According the Northern Virginia Association of Realtors and MLS data from the MRIS, "The market is shifting and slowly recovering; we're coming back.
The average sales prices for Northern Virginia real estate is up from 2008.
The number of listings sold in Northern Virginia is up to levels not seen since 2006!
Are you searching for real property in Northern Virginia? Then you’ve come to the right place.
Condo Alexandria is Northern VA's condo expertCondo-Alexandria.com is the official site of Nesbitt Realty . Our real estate agents provide this site to help educate and assist home buyers with their real estate needs. Please don't hesitate to take advantage of our comprehensive real estate guides, real estate news, mortgage calculators, links to real estate market conditions, and wisdom from our team of skilled realtors. If you’re in the market for homes for sale or if you're seeking a condo in Northern Virginia, Condo-Alexandria.com is the real estate website for you.
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We are realtors and real estate agents that care about hour clients need and we believe in sharing (not hording) information. As such, Condo-Alexandria provides the means to search by map, by community, by mls or just browse by text listings. We even provide a page where you can find condo listings and homes for rent. So whether you’re looking for Alexandria VA real estate or detailed Arlington real estate listings, look no further than Condo-Alexandria.com.
Each real estate listing provides comprehensive details about the property so you have a clear picture of what features and amenities are included. Condo-Alexandria.com goes beyond real estate listings, however, with access to real estate tools and resources such as calculators, moving guides, real estate buying tips. Our site doesn't provide information for everyone. We cater to folks who are interested in Northern Virgina, Alexandria, Arlington, Fairfax County, Crystal City and Kingstowne. If you are moving to Northern VA, Condo-Alexandria.com provides you with everything you need to find the perfect home for you.
Nesbitt Realty sells homes in Northern VA
The average sales prices for Northern Virginia real estate is up from 2008.
The number of listings sold in Northern Virginia is up to levels not seen since 2006!
