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Just Listed in Arlington

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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.”

Home sellers finally out performed home buyers this week in Arlington. While buyers ratified 51 contracts, sellers listed 69 properties on MRIS this week. That has helped the chronic problem of low inventory. At the current pace of absorption, and with only 332 homes actively for sale, the “months of inventory” has risen from 1.02 last week to 1.6 this week.

Economists consider a market to be in equilibrium when there is 5-6 months of inventory. So, Arlington should be experiencing an extreme sellers’ market with crazy bidding wars and skyrocketing prices. But it’s not. Instead the market is more often performing like a buyer’s market.

Even in multiple contract situations, buyers are reluctant to offer much over list price, or even less than list price. The market appears schizophrenic. There is high demand in Arlington, yet those buyers seem reluctant to commit unless they perceive they are getting a great deal, which is difficult to achieve in a seller’s market.

Time is not on the buyer’s side. Interest rates rose another 10 basis points this week to their highest levels since 2014. The 30-yr fixed rates is now at 4.35%-4.5%. And rates are expected to continue their steady climb, slowly eroding buyers’ purchasing power.

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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Now you can have fun with your family and friends when deciding where to eat!

Just hop aboard The Lunch Train and set the destination for: breakfast, brunch, lunch, dinner, or nightlife!

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https://www.thelunchtrain.com/

Submit your own Community Post here.

Lyon Park & Ashton Heights’ biennial home & garden biennial tour is back. The tour will include contemporary custom homes, older historic bungalows as well as renovated properties. One of the stunning homes on the tour is pictured above.  In addition to beautiful & unique homes, the Villa & Vistas ’22 event will conclude with a festive reception at the Lyon Park Community Center at 414 N Fillmore Street, Arlington VA 22201. What could be better right?

All proceeds from this event will go to the Lyon Park Citizens Association (LPCA) towards our neighborhood jewel & hub, the Lyon Park Community Center (LPCC).

When: Sunday, October 2nd, Noon – 4 PM. 

Where: Meet to get your tickets and the tour map at the Lyon Park Community Center (414 N Fillmore Street) We will have a table with information outside.

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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 for our Homebuying

Pink Carpet Event Charity Fashion Show

The Pink Carpet Event Charity Fashion Show will feature our fabulous breast cancer survivors slaying the runway! Designers from Baltimore and the Washington, DC Metropolitan area will bring exquisite fashion and glamour to this event. Professional male and female designs

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