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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.

by ARLnow.com Sponsor September 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.”

Did we step back in time to mid-summer this week? The heat went up, and real estate activity went down. Only 65 sellers braved to put their homes on the market this week, and 65 buyers ratified contracts. Not the best numbers for the peak of the Fall market.

The days on market rose to 52, and the average list price of homes sold this week also rose to $662,911.

The National Association of Realtors reported a slowdown in housing for August. Sales were down 2.6% over August 2016. Mortgage interest rates remained nearly flat, with an increase by just a few basis points to end at 3.97% 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 September 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.”

Sellers were active this week listing 93 homes in Arlington, but buyers were snoozing with only 63 ratifying contracts. Of those home sold, 19 were gone within a week. This has dropped the days on market to just 27, down from 37-39 in previous weeks. And the average list price of homes sold this week dropped radically to just $451,513, down from about $645,000 in previous weeks.

Mortgage interest rates remained unchanged on the 30-yr fixed rate with no points at about 3.95%. But the Fed announced Wednesday that it is starting to sell off its 10-yr Treasury bonds and mortgage backed securities from its balance sheet which is expected to cause an increase in the yield on 10-yr T bills. While that’s not good for mortgage rates, it does signal that the Fed has confidence in a strong economy that’s showing signs of increased growth.

And Freddie Mac said this week to expect to see rates rising very soon, like maybe next week. A US Census Bureau report shows that median household income across the US is at its highest historically at $59,039. That’s a 3.2% increase since 2015, a very good sign for the economy. However, in the greater DC Metro area including northern Virginia, household income has been flat for five years.

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 September 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.”

Hellooo inventory! Home buyers finally got the break they’ve wanted with 108 new listings this week. There’s now a lot to choose from, and the homes are going fast. Some 28 of the new listings sold within a week. In total, buyers ratified 70 contracts this week. The Fall market is now in full swing.

Interest rates nudged upward about 4 basis points this week to about 3.99% for a 30-yr fixed rate with no points. Arlington now has 631 homes actively for sale. At the current rate of absorption, that’s still only 2.3 months of inventory.

Homeowners have until the end of the year to take advantage of the HARP program and lower their monthly payments and save thousands annually. The Obama program was part of the economic stimulus plan. If your mortgage balance is under $625,000 you may qualify. Google HARP for more information and how to apply.

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 Team Cathell September 8, 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 holiday Labor Day weekend drew more buyer attention than the negotiating table. Buyers ratified only 41 contracts this week, the fewest since New Year’s week. But sellers braved the market and listed 71 homes with a nice selection of mid-priced single family properties. Check out what could be the narrowest home in Arlington (12-ft wide) at 711 N. Barton Street.

Interest rates remained virtually unchanged this week, dropping just two basis points to about 3.97% for a 30-yr fixed rate with no points. It seems homeowners got the memo with a spike in refinancing in the last two weeks. Good for them. A promising sign for the fall market is that purchase mortgage applications are up 5% over this time last 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 September 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.”

Arlington’s summer market continued at a good pace this week with 71 new listings and 61 ratified contracts, 19 of those selling within a week.

Interest rates fluctuated this week with a drop of about eight basis points, then a regain to end a few basis points lower. The 30-yr fixed rate with no points is now at about 3.97%. Jittery investors moved capital into US Bonds on the news of the North Korean missile launch over Japan, which lowered the yield. But strong economic news on jobs growth and quarterly GDP growth is expected to lead to higher long term rates.

Our hearts go out to the victims of Hurricane Harvey. We encourage you to help however you can, but be cautious. Already there are scammers seeking donations. So give to reputable organizations.

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 August 25, 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.”

With only two weeks left of summer, some smart buyers ratified 59 contracts this week, well before the rush of buyers that typically show up after Labor Day.

Of those 59 sold homes, some 23 were snatched up in less than seven days on the market. Sellers weren’t shy either. They put 82 homes on the market this week. The days on market statistic dropped to just 33.

Meanwhile, interest rates stayed virtually the same with the 30-yr fixed rate at 4 percent with no points.

Did you know China is the largest foreign investor in real estate in the U.S.? Their top 5 favorite locations are Miami, New York City, Los Angeles, San Francisco, and Boston. Why those cities? It seems they prefer being near top universities where their children are attending.

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 August 18, 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 summertime real estate market is still quite lazy with only 50 homes sold this week, eight of those within seven days. Sellers were more active putting 74 homes on the market. It was an especially good week for mid-priced single family homes with numerous choices in the $700,000 – $950,000 price range.

The days on market has nudged up to 45, and the “months of inventory” also climbed from 2.1 as recently as May, to 2.9 this week. Interest rates stayed totally flat, still hovering at 4% with no points for a 30-yr fixed rate.

Buyers have a window of opportunity between now and early September to negotiate good deals with sellers before the market shifts into high gear after Labor Day when scores of buyers compete for nice homes. And, buyers can lock in these low rates before they start to rise.

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 August 11, 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.”

Complacency has dominated Arlington’s real estate market this week. The worst thing that can happen is when neither sellers nor buyers are motivated to do anything. That’s what the numbers show. Some 60 sellers braved to list their homes this week, while only 45 buyers rallied their courage to ratify contracts.

Mortgage rates fueled the complacency. They did nothing. Rates remained unchanged with the 30-yr fixed still hovering at 4%. Historically, data shows that markets go flat when rates don’t move for long periods. But as soon as rates move either direction, up or down, there’s a flurry of buyer activity.

There may be a generation war brewing on housing. The much maligned milliennial generation, according to a Bloomberg Report, is blaming the Baby Boomers for the inventory shortage and inability of millennials to find housing. Boomers are being blamed for not selling their homes and moving up, or down. It will be fun to see how this plays out.

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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