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.”
Finally, the inventory floodgates opened this week in Arlington with 90 new listings.
That’s the biggest weekly gain so far this year. But buyers were close behind with 83 ratified contracts. Even with this week’s surge of fresh listings, Arlington’s inventory level hasn’t been this low since the hay days of 2004-2005. There are 494 active homes for sale right now. With current absorption rate of 332 homes sold per month, Arlington has only 1.48 months of inventory. That’s a horrendously brutal market for buyers. And it probably won’t get better until summer.
Interest rates jiggled up and down this week ending up virtually unchanged at about 4.25% for a 30-yr fixed rate. When shopping for a mortgage, consider other factors than just lowest rate. Lenders charge a variety of processing fees and origination points. A “point” is 1% of loan amount. You might get a great quoted rate, but they neglected to mention the origination points.
When comparing, ask all lenders to quote you a rate based on zero origination points so you are comparing apples to apples. And ask for full list of their fees. Look at the total cost of each quoted loan. As an option, you can also pay “discount points” up front to lower your interest rate. This is a smart tactic if you plan on holding the property for five years or more. Also, work only with reputable lenders preferably who come recommended by your agent or someone you trust. Good communication with your loan officer is essential to matching up your unique needs with the right mortgage product.
- 1024 UTAH ST N #419, ARLINGTON, VA 22201 – $349,900
- 1201 GARFIELD ST #106, ARLINGTON, VA 22201 – $629,000
- 316 FENWICK ST S, ARLINGTON, VA 22204 – $745,000
- 2325 DICKERSON ST, ARLINGTON, VA 22207 – $749,000
- 890 NOTTINGHAM ST N, ARLINGTON, VA 22205 – $750,000
- 29 OAKLAND ST N, ARLINGTON, VA 22203 – $799,900
- 1616 TAYLOR ST N, ARLINGTON, VA 22207 – $849,000
- 5011 14TH ST N, ARLINGTON, VA 22205 – $899,900
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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Steps away from Target, Good Company Doughnuts!
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Join MoCA Arlington Summer Camps at Marymount University and learn the fundamentals of handbuilding, throwing on a wheel, glazing, and much more. In this two-week course, students will explore hand building techniques, wheel throwing, and strengthen ideas that exemplify individual artist expression guided by professional working artists. Students of all skill levels are welcome!
Visit MoCA Arlington’s Website here and the registration page to secure your space today!
Please join us on Saturday, June 3, from 2 to 4 pm for the Glencarlyn Home Tour in Arlington’s historic Glencarlyn neighborhood. Among the featured homes will be a sparkling new home by A&N Builders at 5604-4th St. South. The inviting front porch opens to a light-filled space featuring high ceiling, wood floors, gas fireplace, Pella windows, Shrock cabinets, Quartz countertop, and JennAir appliances. Doors from the family room open to a large covered porch with a few steps to the level, landscaped rear yard. Upstairs, there are four bedrooms, three bathrooms, laundry room, and linen storage. The big lower level has a rec room, gym space, and a fifth bedroom and bathroom plus even more storage. After leaving the home, stroll to the Ball-Sellers home, the oldest residence in Arlington, the community gardens at the library, Carlin Hall, and the 94 acre Glencarlyn Park. A lovely way to while away a late spring afternoon.
Homebuying 101: Steps to Getting Pre-Approved
Are you ready to jump into homeownership or started considering it but don’t know where to start? Financial preparation is key when thinking about purchasing your first home and the first step to getting pre-approved.
Join ACFCU’s mortgage loan officers
4th of July Celebration & Fireworks
Treat yourself this Independence Day with a world-class, private 4th of July extravaganza at the Military Women’s Memorial – a premier National Capital Region site.
Great food, fun, and the best views of Washington DC’s spectacular fireworks display. Relax, enjoy,