$665,000.00 12522 Summer Place Oak Hill, VA 20171 Beds: 4.0 Rooms: 0 Baths: 3.00 Sq. Ft.: 0 Garage: 2.0 Built: 1988   Oakton High School. Coming on the market Jan 16th with an Open House Jan 18th 1- 4PM This is a new listing that I thought you might be interested in. Visit this listing online to see more photos of the property, Google Earth satellite images, and much more.   If you have any questions about this property or require more information, please feel free to call. Angela Mitchell Angela Mitchell Sells Northern Virginia (703)264-7877 www.AngelaMitchellHomeSales.com     Visit this listing at Here

Well, real estate getting much more enjoyable. We are definitely off to a good start for 2009. There are 52 active single family homes in Oak Hill/Herndon 20171 - still a very low inventory number. 80 to 90 listings is a more normal number - just to get an idea of how low we are - a definite opportunity for the sellers who are market savvy. 7 new listings came on the market - none were reissued listings. One was a short sale - the others were normal seller sale homes. 5 homes got contracts - which is fantastic - our market is doing well when we are seeing 6 to 8 seller sold homes per week getting contracts. In looking at the homes, the homes were on the market from 4 days to 211 days. One was a foreclosure. The one that was on the market for 211 days, came on the market at $1,050,000 April 2008. The sellers went through several listing agents and then was on the market at $799,000 when they got a contract. At first glance, one would think "Wow, the market is really going down". This is not the case. It is more a case of seller greed or not being realistic. When the sellers came on the market in April, I showed the home. It showed poorly(run down)and it was never worth $1,050,000 in 2008. If the seller had priced their home correctly from the beginning and put the home in better shape, they would have got much more money. I would guess in the low 900s or high to mid 800s. Instead, they followed the market down. A tough lesson for sellers. I listed a home this week that was in great shape and it sold in 3 days - so sellers who think about their pricing and put their homes in the shape that they need to sell - profit. I did a lot of internet advertising and target mailings and had an open house on that home. We had 27 sets of people through the home. A number that compares to 2004 and 2005 open house numbers - so things are looking very positive for us for the 2009 spring market. I am not sure prices will go up but they will definitely stabilize - which is really what we need.

Another much better week in real estate in 20171. The inventory is still very low  - 54 single family homes for sale - and it is staying low and the houses are actually selling and not just being taken off the market by frustrated sellers.  There were 6 homes that sold - the highest number that we have had in at least 3 months. Of those, 3 were foreclosures. 3 were seller solds - which is great news. They were on the market anywhere from 39 days to 241 days. You can check them out at: http://matrix.mris.com/Matrix/Public/Email.aspx?ID=28576221753
The interest rates are really helping and I have heard some people had locked at less than 5 percent interest rates for 30 years. There were 5 new homes that came on the market - none of which were foreclosures - which is another good sign and would hope that continues. I think if we see this trend through January, our spring market should offer a lot of hope for both buyers and sellers. Call me at 703 264-7877 or email me if you have any comments. Have a great week!

My phone is starting to ring with both buyers and sellers - which is great news and certainly a good start to the New Year as we get to the Spring Market.  This week was a good one for Oak Hill/Herndon. I would think buyers are having a hard time finding well price homes in good condition. The inventory is very low - there are only 54 single family homes on the market between $324,000 and $1,699,999. If you think about it, that is a very wide range with very few houses in each price range so I really see an opportunity for a well priced home that shows top notch to sell in a reasonable period of time for a fair market price - the market price being a very hard thing to determine with so few seller solds. In the heat of 2005 market, we had 30 homes on the market for sale. In the horrific excessive inventory market of 2006, we had 197 homes on the market - so you can sort of see where the inventory is in relation to 2 other time periods. This week, though, we had 3 homes sold - 2 of which were seller solds - great news. If we can get that number up to 4 to 6 - our market would be doing great. Prices will never be as high as they were, but at least they would level off and stop falling. One of the 3 homes was a foreclosure that sold in 2004 at $656,000/ It was priced at $599,000 and got a contract on it in 7 days.  I would say prices are now at the 2003 prices and it would be nice if they just stayed at the 2003 prices. There was 1 new listing - a non-foreclosure. If you are thinking of buying or selling this year or just want some information, I can be reached at 703 264-7877

Happy New Year! Time to get all that holiday stuff back in the boxes. The market continues to shrink in the number of single family detached homes in 20171 - we are now sitting at 58 homes - significantly lower than last week and just low period. The shrinkage is due to sellers taking their homes off the market -not actually selling. Most of the homes under $500,000 on the market are either short sales or foreclosures - so there is a definite opportunity to sell your home in this price range - if your home is in tip top shape. Prices do seem to be dropping but I would think since this is the New Year that they will now firm up for the Spring season - which does not mean increase but the prices may hold steady. Two homes sold last week - one was to a buyer that I was working with from Maryland and the other was a new listing that sold in 5 days in the 700,000 price range with a new $100,000 kitchen per the MLS. There were 3 new listings that came on the market - one is a short sale that I sold as a listing in 2005 for $575,000 and it is now on the market for $390,000. An amazing price difference. Here is to 2009 and hopefully a strengthening of our economy and the stableness of real estate prices.