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Just Listed in Arlington

by ARLnow.com — July 8, 2016 at 6:00 am 0

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Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Team Cathell, “Your Orange Line Specialists.”

The summer real estate market in Arlington has slowed to a crawl this week as the heat wave hits our area and many people are still vacationing at beaches and lakes.

Only 44 new listings came on the market this week, while 49 homes went under contract. But there is quality in the low number of fresh listings. About 1/3 of new listings are single family homes priced $750,000 – $950,000.

Interest rates plunged this week amid news of the United Kingdom leaving the European Union, Brexit as it’s affectionately called. The move sent shivers through world financial markets, and the economic uncertainty has caused a rush of capital into safe havens like U.S. Treasury Bonds.

The flight of capital to 10-yr Treasury notes has caused the yield to drop, and that has caused long term interest rates to plummet. The 30-yr fixed rate mortgage now stands at about 3.52%. Refinance applications shot up 100% this week over the same period last year. Rates may continue to drop. Stay tuned.

Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

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