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.”
It doesn’t seem like it when you look outside, but Arlington’s Spring real estate market is already here.
Eager buyers snatched up 42 homes this week with ratified contracts, several in bidding wars. Some 14 of those homes sold within seven days on the market and sellers listed 38 homes.
Inventory remains very low, and lack of good options is probably holding back a lot of buyers.
Mortgage rates fluctuated based on bond market activity this week but ended up unchanged at 4.5% for a 30-year fixed rate with no points. The National Association of Realtors (NAR) this week report that the number of home sales in 2018 was down nearly 11% from 2017, but home prices still inched upward.
Going into 2019, the biggest factor to affect our housing market will be affordability, according to Freddie Mac. Affordability is a combination of:
- Rising mortgage rates which erode a buyer’s purchasing power
- Rising home prices which results from buyer pressure due to low inventory
- Lack of wage growth to equal or surpass inflation rate
Basically, buyers are getting squeezed by rising home prices, rising mortgage rates and stagnant income. Freddie Mac expects 2019 to see a slight increase in the number of home sales and number of loan applications for purchase. But that’s based on sustained economic growth at its current pace. Everything will change if our economy starts to slow in 2019.
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.
- 1805 N. Queens Lane Unit #2-144, Arlington, VA 22201 — $379,000
- 1220 N. Fillmore Street Unit #501, Arlington, VA 22201 — $779,500
- 1112 19th Street S., Arlington, VA 22202 — $849,900
- 2506 N. Harrison Street, Arlington, VA 22207 — $875,000
- 1881 N. Nash Street Unit #704, Arlington, VA 22209 — $999,900
- 6614 19th Road N., Arlington, VA 22205 — $1,349,900
- 4148 Round Hill Road, Arlington, VA 22207 — $1,395,000
- 2002 N. Kenmore Street, Arlington, VA 22207 — $1,399,999
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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,