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by ARLnow.com Sponsor January 19, 2018 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.”

Hooray! Somebody opened the inventory gates this week. Buyers were happy to have 56 new listings to choose from, and they wasted no time. They ratified 54 contracts on Arlington homes. Some 17 of those homes sold within a week, and seven sold for over $1 million.

It might be snowy outside with freezing temps, but the real estate market is in Spring season. Agents are reporting a surge in buyer showings and attendance at open houses. The days on market this week shot up to 72 due to about 15 sold homes that had been on the market over five months.

Interest rates ticked up again this week by 4 basis points. The 30-yr fixed rate is now about 4.2%, but some lenders are still offering 4% while others are at 4.3%. So be sure to shop around before locking in a rate. Freddie Mac said yesterday that we can expect to see, “upward pressure on long-term rates.”

Some great news for Arlington: We are still in the running for the new location of Amazon’s HQ2. Northern Virginia got short listed yesterday among the top 20 locations. Some 238 cities had applied.

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

by ARLnow.com Sponsor January 12, 2018 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.”

Arlington’s real estate market picked up a bit this week as 31 buyers ratified contracts and 28 sellers listed their homes. Arlington’s inventory shortage continues as buyers outpace sellers. Of the 31 homes sold this week, only two sold for over $1 million, and seven homes sold within a week. A lot of aging inventory got cleared out, which pushed the average days on market to 63.

Mortgage applications shot up 8.3% this week nationally, mostly for refinancing. Home equity increased in several areas of the US that are still recovering from the recession. Also, homeowners want to take advantage of today’s low rates for fear of rates increasing later this year.

Mortgage rates this week shot up early, then dropped back to about a 10 basis point increase. The 30-yr fixed rate mortgage is now about 4.1%. But this week rates vary significantly among different lenders so be sure to shop around before locking in your rate.

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

by ARLnow.com Sponsor January 5, 2018 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.”

Happy New Year! Team Cathell wishes you an outstanding 2018!

Arlington’s real estate market has already picked up steam this week with 26 new listings and 24 homes sold. Currently there are 346 active home sale listings in Arlington. At the current rate of absorption, that’s 3.6 months of inventory. That’s how we are starting off the year.

The Spring real estate market for our area starts mid January as buyers scour the low inventory in search of deals. The Spring market typically hits its peak about mid March and sustains that level until Memorial Day holiday weekend in May.

Mortgage rates bounced around a bit this week ending about 5 basis points lower following the drop in the yield on the 10-yr US Treasury bill this week. The 30-yr fixed rate mortgage is about 3.95%. Freddie Mac doesn’t expect to see much increase any time soon. On Wednesday, it reported that “there isn’t much upward pressure on long term interest rates at the moment.”

Memo to buyers: It’s a great time to buy, if you can only find that special home.

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

by ARLnow.com Sponsor December 29, 2017 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.”

Historically, the week between Christmas and New Years is the slowest of the year for real estate activity, and this week lived down to the expectation. Only 12 new listings hit the market, and buyers ratified only 16 contracts this week. For this posting, there are only a few new listings still active for your review.

A number of Arlingtonians have lined up at the county’s Treasurer’s office to prepay their 2018 property taxes so they can deduct them in their 2017 tax return before the new tax law goes into effect. But most likely they won’t get the deduction, and all they are accomplishing is providing the county with an interest free loan. That’s because the IRS this week issued an opinion that a deduction can only be taken if the municipality issues their 2018 assessments in 2017. Arlington won’t issue its property assessments until next month.

“A prepayment of anticipated real property taxes that have not been assessed prior to 2018 are not deductible in 2017,” the IRS said in its advisory on Wednesday.

The new tax bill caps the amount that tax filers can deduct in state and local income, sales and property taxes at $10,000, beginning next year.

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

by ARLnow.com Sponsor December 22, 2017 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.”

Buyers didn’t get the memo that it’s the Holiday Season when you shop for presents, not houses. They went out and ratified a whopping 40 contracts on homes in Arlington this week. Sellers only listed 19 homes. They must have figured buyers would be Christmas shopping. Boy were they wrong.

Of the 19 new listings, eight sold within a week. And of the 40 ratified contracts, all but one were priced under $900,000. The days on market jumped to 63 because several home sold that had been on the market over a year. This all points to strong demand, and a vibrant market.

Interest rates remained unchanged this week, hovering at 4% for a 30-yr fixed rate.

The big news this week of course is the new GOP tax plan. As a result of three key changes, a Moody’s Analytics report on Monday says that by the summer of 2019 home prices will be 4 percent lower nationally than what they would have been if no tax bill was passed. It will be worse for high value east coast and west coast properties.

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

by ARLnow.com Sponsor December 15, 2017 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.”

Even in the holiday season, people still need to buy and sell homes. Between shopping and hanging decorations, 34 buyers ratified contracts this week while 28 sellers listed their homes for sale. Arlington’s real estate market just never stops. Of the 34 homes sold, seven sold within a week and six sold for $1 million or more.

Interest rates remained virtually unchanged with just a slight drop by two basis points to 3.98% for a 30-yr fixed rate. The Fed raised its short term rate for only the third time in 2017 to 1.5%. This doesn’t directly affect mortgage rates, but it does affect consumer rates like credit card debt.

The elephant in the room this week effecting the housing market is the latest tax reform plan in Congress. The House and Senate have reached a compromise plan that could be put to a vote next week. Key elements are:

— Allow mortgage interest deduction up to $750,000 debt on owner occupied home
— Double the estate tax exemption up to $11.2 million
— Keep deductions for medical expenses and student loan interest
— Keep deductions for teacher expenses for school supplies

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

by ARLnow.com Sponsor December 8, 2017 at 11:00 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.”

Listings and sales picked up a little this week over last week. Sellers listed 41 homes, while buyers ratified 37 contracts on homes priced from $140,000 to over $2.2 million. The upper end market also saw a boost with seven sales over $1 million. And nine of the new listings sold within seven days.

Interest rates bounced around this week ending about four basis points lower at about 3.96% for a 30-yr fixed rate.

The Republican Senate and House are now trying to reconcile their two different tax reform bills and some of the provisions effecting homeowners may be dropped or modified. Watch the news to see what happens and how it will effect your wallet.

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

(We apologize, but we are having issues with our website links this week. The individual links have been temporarily removed due to technical difficulties. You can use this link to get some information on the properties.)

  • 1304 MEADE ST #APPT #1 ENG4, ARLINGTON, VA 22209 – $299,000
  • 2605 WALTER REED DR #B, ARLINGTON, VA 22206 – $319,900
  • 4073 COLUMBIA PIKE, ARLINGTON, VA 22204 – $599,888
  • 2216 CULPEPER ST S, ARLINGTON, VA 22206 – $639,000
  • 1200 HARTFORD ST N #211, ARLINGTON, VA 22201 – $659,000
  • 2819 21ST RD S, ARLINGTON, VA 22204 – $739,000
  • 4418 7TH ST N, ARLINGTON, VA 22203 – $755,000
  • 3611 3RD ST N, ARLINGTON, VA 22201 – $1,190,000

by ARLnow.com Sponsor December 1, 2017 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 Thanksgiving hangover may have slowed the pace of real estate activity this week in Arlington.  Only 29 sellers braved to put their homes on the market, and only 29 buyers ratified contracts this week.  That’s not unusual for the season. What was surprising is that only three homes sold within a week, and many homes that sold had been on the market a very long time, one as long as 655 days.  That raised the average days on market to 68. A lot of stale inventory got cleared out this week, and that’s a good thing.

Mortgage purchase applications were up 2% this week and 6% over the same week a year ago which could indicate increasing demand.  Meanwhile, refinance applications dropped to their lowest level since January indicating the refinance market may have run its course by now.

Watch for news in the coming days about household incomes finally starting to increase. This should have a considerable influence on consumer confidence that will translate into stronger housing demand.

Interest rates bounced around and ended up unchanged at about 4% for a 30-yr fixed rate with no points.

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

by ARLnow.com Sponsor November 17, 2017 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.”

Yikes! On the eve of Thanksgiving week, only 39 sellers braved to put their homes on the market this week despite the steady healthy absorption rate. Some 51 buyers stepped up and ratified contracts this week. But there are further signs that the higher end market is weakening. Of those sold, only nine sold within a week and none were priced over $1 million. The average days on market also shot up this week to 63, the highest for the year. And only four homes sold this week priced over $1 million.

There’s been much talk about the GOP’s tax cut plan that would affect the mortgage interest deduction. But new affordable housing is also targeted in the plan. The GOP House plan wipes out the exempt status of “private activity” bonds used to fund 50% of new construction for affordable housing. This act will severely curtail the public-private partnership to deliver affordable housing in communities for low income families, veterans, teachers, seniors, firemen, police officers, and special needs.

Interest rates bounced around this week ending virtually unchanged at 4.1% for a 30-yr fixed rate with no points. Remember when shopping for a loan to compare apples to apples. Makes sure you get quotes for the exact same product, and specify based on no points so you can accurately compare.

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

(Unfortunately, were are currently having issues with our website but these links at least allow you to get access to information about the properties.)

by ARLnow.com Sponsor November 10, 2017 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.”

Buyers kept a steady pace this week by ratifying 54 contracts in Arlington, and sellers refilled the inventory bucket by listing 60 homes. It appears the upper price range is softening in Arlington as only four of those homes sold this week were listed above $1 million. Some 16 of those ratified were gone within a week, and only one was priced above $1 million. The average days on market was 49 showing the trend of homes taking more time to sell.

There’s been much talk lately about the GOP proposed new tax plan with elements that will significantly affect home owners in this affluent area. Jerry Howard, CEO of the National Association of Home Builders, said the plan could lead to a housing recession. His members are “irate” that the plan would slice the mortgage interest deduction in half.  “There are seven million homes on the market right now that are more than $500,000. Those houses are automatically going to be devalued,” he said.

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

by ARLnow.com Sponsor November 3, 2017 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.”

Arlington’s Fall real estate market kept a strong pace this week with 58 fresh listings and 55 homes sold. Eight of those homes sold within a week and all were priced under $1 million. Many of the homes sold had been on the market over 60 days helping to clear out some inventory. That raised the Days on Market to 57, well above the level of 35 in previous weeks.

Congress revealed terms of a new tax plan that would impact home owners. The proposed changes would cap the deduction for property taxes at $10,000 and preserve the mortgage interest deduction only for existing mortgages and new purchases with loans of $500,000 or less.

Interest rates remained unchanged this week with the 30-yr fixed rate at 4.12% with no points.

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

by ARLnow.com Sponsor October 27, 2017 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.”

On the eve of Halloween, ever wonder how many homes in Arlington are haunted? On trick or treat night, it sure seems like there’s a lot of them. But what if they really are haunted?

Is an owner or listing agent required to disclose that the home has spirits, non-rent paying occupants who refuse to leave? The answer is: NO. Since we have no formal agency to certify that a home either is, or is not, haunted then it’s anybody’s guess, and not the type of info that requires disclosure. It doesn’t rise to the level of an “adverse material defect” as far as the regulatory agencies are concerned. So before buying a house, you’ll need to bring in your own Ghost Busters to know if its haunted.

This week, 49 homes came on the market, and 56 were sold. Only one sold within a week, helping to clear out some stale inventory. Days on market rose to 44. And of those sold this week, only four were priced above $1m. These are key metrics to ponder.

Interest rates continued their slow and steady march upward. The 30-yr fixed rate rose nine basis points this week, and mortgage applications for home purchases were down 6%.

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

by ARLnow.com Sponsor October 20, 2017 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.”

Sometimes boring is good. The “same old thing” could be much better than a worsening condition. Arlington’s real estate market was certainly boring this week, and that could be a good thing. Some 75 new listings came on the market, and 54 homes were sold, 19 of those within a week. The average price of those 19 was $515,086 and none were priced above $1 million. So the lower end market is still vibrant.

Interest rates were boring too. Rates fluctuated all week, and ended up virtually unchanged at 4.05% for a 30-yr fixed rate with no points.

How can buyers make sure they’re getting the best rates? Make sure your credit scores are 740 or above, and shop around. Talk to several lenders, determine which product is best for your particular situation and be sure to compare the same product, rates and points with several competitors. There are many excellent regional lenders in our area, and each has a little different product and terms… So shop…

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

by ARLnow.com Sponsor October 13, 2017 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.”

Ever wonder why some homes sell in a week and others linger for months? There’s three major reasons:  location, condition and price. In today’s market, the condition of a home has never been more important. Buyers want homes updated and move-in ready. They will turn their noses up at homes that need updating, no matter what the price. Of course a great combination of location, condition and price is the winning ticket. But today, condition trumps other factors.

This week, 84 sellers listed their homes and 60 buyers ratified contracts. Of those, 15 sold within a week. A common denominator: nearly all were recently updated.

Mortgage interest rates rose a few basis points this week to about 4.07% for a 30-yr fixed rate with no points. The national housing market now shows signs of slowing, and the National Association of Realtors has adjusted their estimates for 2017 performance to drop below that of 2016 with fewer home sales. Lack of inventory is the main reason.

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

by ARLnow.com Sponsor October 6, 2017 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.”

Sshhh… be quiet… and listen…

Can you hear the market whispering? It’s talking to us, very subtly. It’s saying things are slowing down, buyers are hesitant, there’s no sense of urgency, complacency is replacing vibrancy.

A common theme has emerged this week when talking with real estate professionals like agents, loan officers and title closers. They describe the market as “off,” “funky,” “soft,” “weird,” “squishy.” These are not yet technical terms in real estate lexicon, but they portend things to come. We may be on the verge of a subtle shift.

When consumers’ confidence in the economy wanes, it’s reflected in a depressed housing market because they are averse to risk regarding major financial decisions and commitments. When consumers feel the future economy is strong, it’s reflected in active home and auto sales.

This week in Arlington, 83 sellers put their homes on the market and 56 buyers ratified contracts. And about 60 sellers lowered their prices, a high number for the peak of the Fall market.

Interest rates show tiny signs of inching upward. The 30-yr fixed rate ticked up about 4 basis points this week to about 4.05%. The Fed’s move to shed 10-yr T bills and mortgage backed securities is competing with Treasury’s sale of 10-yr bonds so it raised the yield this week by 8 basis point, which in turn influenced mortgage rates. Increased rates will lower a home buyer’s purchasing power. Are dark clouds forming on the horizon of our housing market?

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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