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Just Listed in Arlington

by ARLnow.com Sponsor October 19, 2018 at 6:00 am 0

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.”

Buyers picked up the pace a bit this week by ratifying 58 contracts, while sellers also appeared motivated by listing 61 homes. This is so far the busiest week this fall for Arlington’s real estate market.

The days on market climbed somewhat to 43, reflecting many sales of properties long on the market. One home had been for sale nearly two years.

Buyers should be motivated in this market as time is not on their side. Home values in Arlington keep trending ever so slightly upward at about 2.2% so far this year, and purchasing power continues to be eroded by rising interest rates. The sooner buyers ratify a contract, the sooner they lock in a price and interest rate.

This week rates dropped about five basis points, but then regained that yesterday. The 30-yr fixed rate with no points is now at 5% and could go to 6% by the middle of next year.

In order to sell more 10-yr bonds to pay for the US budget deficit, the Treasury has had to raise the yield which influences long term rates like mortgages.

Click here 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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