First my apologies for not updating the weekly blog. I will do my best to post them by Tuesdays. There's been tons of action on the market so I want to keep you posted. Market has been very active these days. This week we had 11 new resales come on the market. Expect more listings before May due to tax credit. Here we go with the weekly update.
As of today 4/10/2010, there are 29 active listings in MLS and 19 homes under contract in last 30 days. This gives us an absorption rate of 1.5.
Here's the breakdown of the active listings:
21 Traditional Resales, 1 Foreclosure, and 7 Short Sales.
Click here to view all active listings via FranklyMLS.com. There's some non-Brambleton listings so just look at the subdivision.
Click here to view all homes under contract via FranklyMLS.com.. There's some non-Brambleton listings so just look at the subdivision.
New
11 new listings came out during the period of 4/12/10 to 4/18/10. Expect flood of listings before the tax credit expires.
Condo
2. Summerfield Verona. $225,000. (Short Sale)
3. Summerfield Torino. $249,900. (Short Sale)
4. Beazer Aspen. $299,900.
5. Centex O'Hare. $319,900.
*This short sale is my listing. It's with Capital One (formally BF Saul / Chevy Chase). Capital One is one of the easier banks to work with in terms of short sale. You can view an approval letter for Capital One short sale that I competed last month here.
1. Beazer Chancery. $389,900. (Foreclosure)*
2. Beazer Chancery. $399,900.
3. Miller & SMith Houdini I. $439,500.
*Not many foreclosures these days. Most are opting to do short sale.
1. Christopher Companies Buckingham. $615,000.
2. Beazer Ashley. $625,000.
3. Winchester Homes Browning. $699,900. (Under Contract)
Under Contract
According to MLS, 10 resales went under contract during 4/12/10 to 4/18/2010.
Condo
1. Summerfield Florence. $160,000. DOMM/DOMP: 7/7. (Short Sale)
2. summerfield Verona. $209,000. DOMM/DOMP: 32/0. (Short Sale)
3. Centex Logan. $284,000. DOMM/DOMP: 44/44.
Townhouse
1. Miller & Smith Houdini I. $399,999. DOMM/DOMP: 4/4.
2. Beazer Chancery. $400,000. DOMM/DOMP: 95/95.
3. Beazer Chancery. $435,000. DOMM/DOMP: 15/15.
1. Centex Fulton. $524,900. DOMM/DOMP: 11/11.
2. Centex Fulton. $529,900. DOMM/DOMP: 39/39.
3. Beazer Farham. $572,500. DOMM/DOMP: 61/61.
4. Winchester Homes. $699,900. DOMM/DOMP: 6/6.
Sold
According to MLS, 4 resales closed this week.
Townhouse
1.
Centex Stratton. 42417 REDSTONE TER. $310,000 - $5,000 = $305,000. DOMM/DOMP: 16/16. (
Foreclosure)
2.
Beazer Chancery. 42496 LEGACY PARK DR. List Price: $419,000. DOMM/DOMP: 88/88.*
2. Centex Hadley. 22771 SWEET ANDREA DR. $700,000 - $0 = $700,000. DOMM/DOMP: 0/0.**
*This home was scheduled to close on 4/15/10 but still shows as under contract.
**This home was entered in MLS for informational purposes. It never went on the market. In fact, this is the second Centex Hadley to sell without ever going on the market in the last month.
Conclusion
Expect another busy week as buyers rush to meet the tax credit deadline.
Disclaimer: Information is deemed reliable but not guaranteed. MLS data was used which means For Sale By Owner information may have not been included. All homes entered as comps (e.g. new construction) were removed as well. MLS data is subject to human errors such as agents entering wrong values. This is not an appraisal but purely for informative purposes only. If you spot an error, please email.