McLean, VA Real Estate News

All across the nation, mortgage rates are slowly creeping up. This includes here in Northern Virginia. Interest rates have gone up an average of just over 1% between May and July. While higher rates instantly seem like a negative, financial experts say there are both positive and negative aspects to understand. Let’s get it out of the way and take a look at the ‘bad’ first. Obviously, the first negative point is the increased costs. Higher interest rates make owning your home more expensive. An increase that may seem insignificant has the potential to make an impact on your monthly payment. For instance, a rate rose from 3.49% to 4.63% the next month. This may seem like a small increase but it adds $66 to a $100,000 mortgage! This may deter homeownership for some individuals. As long as...
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Hurricane season is now upon us in Northern Virginia and along the East Coast. According to the National Oceanic and Atmospheric Administration, this year’s hurricane season is already on track to be above normal. The hurricane season forecast states we have a 70 per cent chance of an above normal season. NOAA has stated that from August to November 30th, there will be as many as 6 to 9 hurricanes across the Atlantic Basin. This range is above the 30-year season average. The entire East Coast has been drastically impacted by hurricanes the past two years, with Hurricane Irene in 2011 and Sandy in 2012. Northern Virginia’s most serious storms in recent years were Hurricane Irene and Hurricane Isabel. Hurricanes can be devastating, and preparedness is key. By having supplies on hand and a...
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Congratulations! You own a home in Northern Virginia. Now the exciting part happens! You can decorate and make improvements however you want. So many new homeowners get swept up in the freedom of having their own place that they end up jeopardizing themselves for the future. Here are some tips on how to survive the first year or so. The biggest issue many new homeowners face is coming to terms with their new finances. A large portion of your savings has just been handed over for the down payment, fees, and moving costs. There are new expenses to take into account as well – electric bills, water bills, home insurance, etc. In addition to these expenses, there’s also furniture, appliances, and accessories to fill the house up with. Be mindful to budget in decorating and purchasing new ite...
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Northern Virginia is an area full of history, culture, and entertainment. There’s always something going on, no matter what time of the year. Summer is definitely a busy seasons for events, with the heat and sunshine luring everyone outdoors. From farmers markets to George Washington’s kitchen to outdoor concerts, there’s bound to be something you’re interested in! Every Thursday in Lorton, you’ll find the Workhouse Farmers Market on the Workhouse Quad on Ox Road. Open from 3PM to 7PM, this market has only local foods; everything from baked goods to meats and poultry. Vendors include The Kettle Korn Man, Queen Victoria’s Island Punch, Fat and Happy BBQ and Valley View Bakery. Workhouse Farmers Market is one of the newest markets in Fairfax County, and is quickly gaining popularity among...
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By Peggy Yee, Search Vienna Homes For Sale - Northern Virginia
(NoVa House and Home)
Homes for Sale in McLean, VA - June 2013 Market Report This is a market report for homes for sale in McLean, VA in the 22101 zip code.  Real estate market data and analysis is provided byPeggy Yee, REALTOR. June 2013 McLean, VA 22101 Real Estate Statistics   Statistic Values YoY MoM Closed Sales 48 -17.24% -12.73% Median Sold Price $940,125 +0.98% +4.57% Avg Sold Price $1,122,815 +1.23% -0.44% Avg Days on Market 47 days -45.35% -31.88% Avg Sold to Orig List Ratio 98.61% +2.07% +0.83% Total Sold Dollar Volume $53,895,119 -16.22% -13.11%   YoY (Year over Year) compares this month's real estate statistics with the same month last year.  MoM (Month over Month) compares this month's real estate statistics with the previous month.   In June 2013, 48 homes sold in the McLean, VA 22101 area wit...
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By Peggy Yee, Search Vienna Homes For Sale - Northern Virginia
(NoVa House and Home)
Homes for Sale in McLean, VA - June 2013 Market Report This is a market report for homes for sale in McLean, VA in the 22102 zip code.  Real estate market data and analysis is provided byPeggy Yee, REALTOR. June 2013 McLean, VA 22102 Real Estate Statistics   Statistic Values YoY MoM Closed Sales 31 -16.22% -3.13% Median Sold Price $818,900 +0.05% -4.78% Avg Sold Price $844,596 -12.61% -21.77% Avg Days on Market 26 days -71.74% -70.79% Avg Sold to Orig List Ratio 98.84% +4.75% +1.31% Total Sold Dollar Volume $26,182,485 -26.78% -24.21%   YoY (Year over Year) compares this month's real estate statistics with the same month last year.  MoM (Month over Month) compares this month's real estate statistics with the previous month.   In June 2013, 31 homes sold in the McLean, VA 22102 area with...
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Open houses are a great introduction to a potential new home in Northern Virginia. As a buyer, you are able to walk the rooms, see the yard, and make an educated decision about the property. At JC Advantage, we often host open houses to show homes we have for sale, as well as bring buyers to open houses they may be interested in. Open houses give you a true picture of the home, but be prepared to have a close look to see the full effect. Some sellers may bring in new rugs or furniture to distract from old, worn floors. Lift rugs to take a peek underneath for stains or problems. If the seller’s agent has music playing, ask them to turn it down so you can listen for nearby noise. Often there’s a disclosure sheet available at open houses. This sheet will tell of any known structural issues...
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The warm weather in Northern Virginia makes for an ideal time to get some chores done around the house. Take advantage of the sunny skies and spend some time outside, checking the property, and performing regular maintenance. By keeping up with these tasks, you reduce the risk of having to pay for problems or repairs later on. A utility checkup in July will likely cost less than a checkup in January, when the repairman will need to work around the cold and snow. An energy audit is a job that can be completed by a homeowner. Take a walk around the house making note of any gaps or cracks in the walls. Pay close attention to areas where windows meet the wall, fireplaces, mounted air conditioning units, and mail slots. These are all common areas to see a crack in the wall. These openings ma...
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By Lenn Harley, Real Estate Broker - Virginia & Maryland
(Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate)
Homes for Sale McLean Virginia - Luxury homes, luxury shopping, highly ranked public schools. Homes in McLean are convenient, beautiful with shopping, a quick commute to Georgetown or downtown DC, and one of the locations of choice for luxury home buyers in Northern Virginia. Real estate in McLean is in a lovely area bordering the Potomac River offering newer luxury homes and older homes with mature trees, parks and conveniences. Tour the following pages and you'll be ready to take a personal tour of single family homes, town homes or condominium homes in McLean, Virginia. Contact us, we can help. McLean Virginia Map Click image to enlarge Fairfax County Map Click image to enlarge   WE CAN HELP The experienced Buyer's Agents with Homefinders.com in Virginia will provide you with all cur...
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With the market on the rise and more homes on the market, it’s becoming less of a seller’s market. The buyers have an increased inventory from which to choose in Northern Virginia. As a seller, you need to make decisions on how to make your home stand out above the rest. Home staging is a technique used to grasp a buyer’s attention. The goal is to have them imagine they’re living in the house. This is simpler than it sounds, and can be done in these easy steps. As always, begin with the exterior, the first thing the buyer will see as they pull up to a house. Make sure the lawn is neat and tidy, with the grass and hedges trimmed. Sweep the sidewalks and driveway, and have plants placed decoratively. Make it look inviting! Decluttering rooms is important – a cluttered room looks small to ...
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With summer around the corner, landscaping has become a weekly chore again in Northern Virginia. With all the hard work you put in, you want your lawn looking neat and green. Preferably without bugs or weeds! There’s been questioning about the safety of lawn fertilizers for years, and often the ones that are rated ‘safest to use’ are the most expensive. Keep your lawn looking great with some homemade remedies that are easier on the wallet and the environment. Caterpillars are often found in and around gardens, crawling around or munching on fresh vegetables. To get rid of these critters, get some spicy peppers and garlic; these spices repel the insects with their strong odors. To make the compound, chop up several garlic cloves and some hot peppers. In the blender, mix these with about ...
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By Dan Rochon, Top Realtor in Northern Virginia
(Greetings Virginia - Keller Williams Realty)
What you ought to know about a Short Sale: Mclean, VA Short Sales Mclean, VA short sale specialists of Dan and Traci & Consultants with Keller Williams Realty deliver top quality results and total satisfaction, guiding our short sale clients every step of the way. A short sale is an arrangement in which the homeowner's mortgage lender agrees to accept a payoff on the loan for less than the balance. A short sale is a sensible option in many cases. Lenders agree to short sales mainly because it is less costly for them to do so than to bargain with the expense of a foreclosure and the unwanted ownership of a foreclosed property. Whether you are a first time home buyer and seller or an experienced investor, our team will help you make educated decisions with regards to all of your short sal...
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By Peggy Yee, Search Vienna Homes For Sale - Northern Virginia
(NoVa House and Home)
Homes for Sale in McLean, VA - May 2013 Market Report This is a market report for homes for sale in McLean, VA in the 22101 zip code.  Real estate market data and analysis is provided byPeggy Yee, REALTOR. May 2013 McLean, VA 22101 Real Estate Statistics   Statistic Values YoY MoM Total Sold Dollar Volume $29,283,600 +101.14% +212.55% Closed Sales 61 +64.86% +110.34% Median Sold Price $420,000 +17.98% +64.71% Avg Sold Price $480,059 +22% +48.59% Avg Days on Market 32 days +68.42% -27.27% Avg Sold to Orig List Ratio 96.45% -4.72% -0.11%   YoY (Year over Year) compares this month's real estate statistics with the same month last year.  MoM (Month over Month) compares this month's real estate statistics with the previous month.   In May 2013, 61 homes sold in the McLean, VA 22101 area with...
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By Peggy Yee, Search Vienna Homes For Sale - Northern Virginia
(NoVa House and Home)
Homes for Sale in McLean, VA - May 2013 Market Report This is a market report for homes for sale in McLean, VA in the 22102 zip code.  Real estate market data and analysis is provided byPeggy Yee, REALTOR. May 2013 McLean, VA 22102 Real Estate Statistics   Statistic Values YoY MoM Total Sold Dollar Volume $34,546,585 +53.27% +74.05% Closed Sales 32 +10.34% +23.08% Median Sold Price $860,000 +65.38% +98.61% Avg Sold Price $1,079,581 +38.9% +41.42% Avg Days on Market 89 days +128.21% +456.25% Avg Sold to Orig List Ratio 97.56% -0.6% -1.09%   YoY (Year over Year) compares this month's real estate statistics with the same month last year.  MoM (Month over Month) compares this month's real estate statistics with the previous month.   In May 2013, 32 homes sold in the McLean, VA 22102 area wi...
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At this time last year, the Northern Virginia real estate market recorded $834.1 million in sales and sale prices. We are pleased to announce that this number has increased over 20 percent. This past April, the total sales volume of real estate in our area reached $1.008 billion. All data is based on reports from RealEstate Business Intelligence, a branch of MLS.  The data represented is from Arlington, Fairfax, Fauquier, Loudoun, and Prince William counties, as well as Alexandria, Fairfax, Church, Manassas, and Manassas Park. The average sales price of homes that went to closing in these areas during April was $537,999. In 2012, the average sales price was $497,083. This is an increase of 8.2 percent. Townhouse sales prices increased 6.2 percent, while single-family homes went up nearl...
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Free list of Foreclosed and Short Sale Homes for sale in McLean, VA from the Browning Homes Group.  Click on the picture below or call 571.234.1456 for immediate information!    Thank you for reading about Foreclosures and Short Sales in McLean VA.  Click Here to see a list of other homes for sale in McLean Virginia.
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We’ve all heard the saying “A picture speaks a thousand words.” When selling a home in Northern Virginia, owners typically post pictures of the exterior and interior in advertisements. Photos are the most useful feature to a homebuyer, especially if they’re buying their first home.  Buyers may not be able to mentally visualize square footage or understand real estate lingo. Photos are a buyer’s ultimate first impression of the house. The snapshot generates interest in the property, which leads to a buyer attending an open house or tour, and eventually putting in an offer.  It is estimated that listings with professionally shot pictures have significantly more viewings than other homes. However, with the right camera and lighting, anyone can get a great photo of the home. To get the prof...
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Home buyers are all looking for something different. Here at JC Advantage in Northern Virginia, we see it daily. Everyone has their own dream home in mind with different features, or aspects they’re looking for. There are certain details that all home buyers will agree on, though: what they DON’T want. At the top of the list of things buyers avoid is a home with an odor. Smells such as cigarette smoke or mildew can linger in a home. Pets also add an odor, even if you may not notice it. Before hosting an open house or selling a home, be sure to air out the interior. Open windows, steam the carpets and upholstery, and consider washing down walls if odor continues to linger. Basements are an area where odor can lie. This can be due to dampness caused by rainwater. Dampness or damp smells a...
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By Glynis Canto, Glynis Canto
(Keller Williams Realty)
The McLean 22102 Single Family Home Market has had a great spring! Much like the rest of Northern Virginia, inventory is low, contracts are being written and homes are selling! The Northern Virginia area has had a very active spring market and although in some areas, inventory is starting to rise, the market is showing no signs of slowing! Let’s highlight the bullet points before we break them down! 35 New Listings 17 New Pendings Median Sold Price of $1,410,000 Average of 13 Days on Market So let’s get into inventory first, there is currently 4.7 months worth of inventory (# of Active Listings/ # of New Pendings).  There were 80 listings active  by month’s end. During April, 35 new homes went on the market. 35 New listings is pretty consistent for April, the 5-year average is 29 new li...
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The unofficial start of summer is upon us in Northern Virginia. Memorial Day, the day in which we honor the men and women who have died while serving the US Armed Forces, is next Monday May 27th. In recent years, this national holiday has been coined ‘the unofficial start of summer’ and is celebrated with barbecues and parades honoring our fallen soldiers. In Northern Virginia, we have our Annual Memorial Day Parade and Festival in Falls Church, with events starting at 9am leading up to the parade at 2pm. Go to the official link for more information. Here’s a bit of trivia about the Annual Memorial Day Parade and Festival – 2011 was the second 30th annual parade and festival. The first parade took place back in 1951. Due to the gas crisis in 1981, town officials were forced to cancel th...
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