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Email Nate - NateJohnson@1245team.com

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Monday, December 22, 2008

Interest Rates Drop !!

Now is the best time to buy ! If you have 3-4% to put down. Roughly $10,000

If you wait to make the decision to buy and the interest rates go back up like they will. You could be paying roughly $200 more a month and thats almost $75,000 more over the life of the loan. Not to mention your loan amount that you would be pre approved at would be less, than what you would be pre approved for now.

Ask us how we can help you get a great deal in this market

December 18th, 2008

Supported by the Federal Reserve’s recent decision to cut its overnight federal funds rate to a range of zero to 0.25 percent, the 30-year fixed rate mortgage hit a 37-year low last week reaching 5.17 percent. That’s the lowest the 30-year mortgage rates have been since Freddie Mac began its weekly mortgage rate survey in 1971, noted Frank Northaft, Freddie Mac chief economist.



Wednesday, December 17, 2008

Gates of Fair Lakes Condo Weekly Update 12/11/08-12/17/08

MyGatesofFairLakesCondo.com

INTRODUCTION

We are your Neighborhood Expert !


As of today (December 17, 2008 11 AM), there are 4 active listings in MLS and 1 condo that is currently under contract.

Here’s the breakdown of all active listings in MLS:

3 - 2 bedroom units (2 Bank Owned, 1 Short Sale)
1 - 1bedroom unit (Bank Owned)


NEW LISTINGS

According to MLS, there was 1 new listing this week.


UNDER CONTRACT

According to MLS, there is 0 condos under contract.


12902 FAIR BRIAR LN #12902, FAIRFAX, VA 22033 - 215 Days On The Market (DOMP) (2 bed/2ba) Short Sale NO LONGER UNDER CONTRACT


I will have the final numbers for this once it closes, if it closes.


SOLD

According to MLS, 1 condos sold in the last 30 days.

12898 FAIR BRIAR LN #12898, FAIRFAX, VA 22033 (226 DOMP) (2bed/2ba) Regular Sale

Asking Price - $324,900
Sales Price- $284,000
Seller Subsidy - $10,000


22033

These stats are for all real estate in the 22033 zip code for the Month of November
2008 2007 % Change
Total Sold $ Volume $11,624,023 $19,439,225-40.2%
Avg. Sold Price$387,467 $431,983 -10.3%
Median Sold Price $362,500 $420,000-13.7%
Total Units Sold 3045 -33.3%
Avg. Days on Market7069 -1.4%
Avg. List Price for Solds: $407,368 $466,933 -12.8%
Avg. Sale Price as a percentage of Avg. List Price: 95.11% 92.51%



Fairfax Condos Sold for 2007 vs. 2008








RENTALS

There are currently 4 condos for rent

0 condos have been rented out in the past month.

If you need any help finding a rental or listing your condo for rent, please contact us.

We will take care of all the work for you and do background checks on the applicants to make sure they are qualified. We are also a fully licensed property management group also. Just ask us more about how this benefits you.


OBSERVATIONS

We have been working in Gates of Fair Lakes for a while and there just has not been much movement at all here. There was one sale this past week. It was a regular sale and the buyer got a great deal.


The short sale that I mentioned in last weeks report is no longer under contract and off thee market. Meaning they were not able to negotiate with the bank to sell.


We have a short sale team in place to help you. There is very little if no financial implications to short selling. You just need a good team and professional negotiators to negotiate with the bank. Please contact us if you are thinking about this.


Keep checking back for the status of your community. If you have any questions or would like to know the value of your home right now,
email us!

















Disclaimer: Information was gathered from the MLS and is deemed reliable but not guaranteed.




Monday, December 8, 2008

Gates of Fair Lakes Condo Weekly Update 12/02/08-12/08/08

INTRODUCTION

We are your Neighborhood Expert !
As of today (December 9, 2008 11 AM), there are 3 active listings in MLS and 1 condo that is currently under contract.

Here’s the breakdown of all active listings in MLS:

3 - 2 bedroom units (2 Bank Owned, 1 Short Sale)


NEW LISTINGS

According to MLS, there was 0 new listing this week.


UNDER CONTRACT

According to MLS, there is 2 condos under contract.
12898 FAIR BRIAR LN #12898, FAIRFAX, VA 22033 (226 DOMP) (2bed/2ba) Regular Sale

12902 FAIR BRIAR LN #12902, FAIRFAX, VA 22033 - 215 Days On The Market (DOMP) (2 bed/2ba) Short Sale


I will have the final numbers for this once it closes, if it closes.


SOLD

According to MLS, 0 condos sold in the last 30 days.



Fairfax Condos Sold for 2007 vs. 2008




RENTALS

There are currently 4 condos for rent

0 condos have been rented out in the past month.

If you need any help finding a rental or listing your condo for rent, please contact us.
We will take care of all the work for you and do background checks on the applicants to make sure they are qualified. We are also a fully licensed property management group also. Just ask us more about how this benefits you.


OBSERVATIONS

We have been working in Gates of Fair Lakes for a while and there just has not been much movement at all here.
There is a short sale that is under contract but it has been under contract for over 2 months which means they are having a hard time getting the bank to accept the price.
We have a short sale team in place to help you. There is very little if no financial implications to short selling. You just need a good team and professional negotiators to negotiate with the bank. Please contact us if you are thinking about this.
Keep checking back for the status of your community. If you have any questions or would like to know the value of your home right now,
















Disclaimer: Information was gathered from the MLS and is deemed reliable but not guaranteed.