First Quarter Housing Update – Northern Virginia – Plus 5 Home Buyer Tips

How is the housing market doing around Northern Virginia? Wondering where prices are? How many homes are selling? Whether it’s a Buyer’s Market, Seller’s Market or Balanced Market? Let’s take a look at the stats:

City # Sales Avg Price Avg DOM Housing Supply Buyer or Seller Market
Alexandria 867 $489,013 58 days 1.7 months Seller
Annandale 103 $440,984 54 days 1 month Seller
Arlington 486 $585,193 44 days 1.5 months Seller
Ashburn 244 $461,566 53 days 2.3 months Seller
Burke 114 $426,403 37 days Less than 1 month Seller
Centreville 182 $372,015 50 days 1.1 month Seller
Chantilly 40 $450,406 30 days Less than 1 month Seller
Dunn Loring 4 $834,000 48 days 6 months Balanced
Fairfax 343 $488,140 45 days 1.1 month Seller
Falls Church 251 $476,777 46 days 1.2 months Seller
Great Falls 23 $1,160,393 135 days 8 months Buyer
Herndon 124 $447,186 43 days 1.4 months Seller
McLean 128 $931,091 88 days 3.8 months Balanced
Oakton 48 $562,012 80 days 2.8 months Balanced
Reston 190 $441,990 45 days 1.5 months Seller
Springfield 234 $424,165 48 days Less than 1 month Seller
Sterling 193 $380,053 46 days Less than 1 month Seller
Vienna 127 $729,021 53 days 2 months Seller

FREE – What Is My Home Worth – Instant Market Valuation

Search Homes For Sale in Northern VA On Our State-of-the-Art Search Site

This week and next week are “Spring Break” for Northern Virginia schools. We typically see an upswing in inventory just following this period. So stay tuned.

If you’ve been waiting to find that dream home, this just may be the time – but you’ll likely have to move FAST to beat others to the punch. Best way to do that?

1. Sign a Buyer Broker Agreement so you have a Buyer Agent working on your behalf. If you call a Listing Agent, they only have one person’s interests at heart: The Seller’s.

2. Know what you’re looking for. Know the reality of what your money buys. If you’ve been looking for a while and haven’t yet bought, then you know prices are rising and interest rates are rising. Now’s the time to get real if you want to get into a new home.

3. Have your loan approved before you look for homes. Your approval letter MUST accompany your contract offer. Sellers won’t even look at a contract without it.

4. Remove as many contingencies as are prudent. If you’re not sure which ones you are comfortable with removing or which ones you are able to remove – discuss this NOW with your agent – before you’re in a competition.

5.Use a state-of-the-art home search site (like What’s the biggest complaint we hear from people who use Zillow, Trulia & That the data is outdated. They call about listings that are long under contract. Our site is updated constantly and our buyers often tell us it’s the best site they used. Don’t miss out!

The Belt Team’s Mission Statement is “Changing Lives For The Better”. If now is the time to change yours, give us a call at (703) 242-3975. We’ll help you make the RIGHT move!

Sneak Peek Into Our Ghost Inventory!

Remember the post we wrote last week about “ghost inventory” in Northern Virginia real estate? Well, here’s a sneak peek of just a handful of our our signed listings that will be coming on the market between now and this summer. We’ve got everything from convenient condos in Reston to gorgeous estates in Great Falls to an oasis in Oakton and some very special homes in Vienna! Call (703) 242-3975 for more info or email to schedule a showing!

Search Homes For Sale in Northern VA On Our State-of-the-Art Search Site

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“Gorgeous In Great Falls”

Great Falls Real Estate

“An Oasis in Oakton in Berryland Farm”

Berryland Farms Oakton Real Estate

“8210 Cottage Street in Vienna – Oh So Convenient!”

Vienna Real Estate

“Condo at Sought After Sutton Ridge in Reston”

Reston Condo For Sale

“Contemporary in Popular Bluffs of Wolftrap”

Vienna Real Estate

“Colonial in Wexford East & Madison High School Pyramid”

Vienna Real Estate

Search Homes For Sale in Northern VA On Our State-of-the-Art Search Site

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Condo Open Sunday in West Village of Shirlington

4131-C South Four Mile Run Drive in Arlington – Open Sunday, April 13th 1-4PM!

List Price: $459,000

Arlington Condo For Sale

Directions, pictures and more information about 4131C S Four Mile Run Drive

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Call (703) 242-3975 to schedule a showing!

Updated Symphony Hills Home Open in Vienna – April 13

This gorgeous, updated home in Vienna’s sought after Symphony Hills is listed at $824,900.

Symphony Hills Vienna



  • Spacious & updated!
  • 5 bedroom rambler!
  • English garden!
  • Wolftrap / Kilmer / Madison school pyramid!

Is THIS the one you’ve been waiting for?!

Open Sunday, April 13th from 1-4PM!

More info, photos & directions to 9627 Percussion Way in Vienna

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Search Townhouses For Sale In Vienna

Contact The Belt Team for more info or to schedule a showing call (703) 242-3975!


Alexandria Condo Open Sunday – Manors At Stonegate

4667 Longstreet Lane #305, Alexandria – At The Manors at Stonegate

List Price: $424,900


Manors at Stonegate

Welcome to Manors at Stonegate! This fabulous, townhouse style, 2 bedroom, 2 full bath condo features an open floor plan, vaulted ceilings, loft area with built-in bookcases, skylights & office/den, updated kitchen with granite counters and stainless steel appliances, gas fireplace, master suite with spacious walk-in closet & attached bath, and brand new hardwood floors in the living and dining rooms. Great location…convenient to many amenities and perfect for commuters!

More information & photos of 4667 Longstreet Lane #305

Directions to 4667 Longstreet Lane #305

Search All Condos For Sale in Alexandria

Call (703) 242-3975 to schedule a showing.


3 Reasons Why NOW May Be Your Time To Move Up

If you’ve been feeling like George Jefferson and thinking about “moving on up” (maybe you’ve outgrown your house or you’re just ready for a change), here are 3 reasons why NOW might be your perfect storm:

1. You might be able to have your cake & eat it too!

Have Your Cake

If you’re selling a home in the lower or mid price ranges (under $900,000) and moving into the over $1.2 million price range – you have a small window of opportunity that is open right now. The low-mid price ranges are moving swiftly. Housing supply is uber low. And that means values are rising. (Great for you when you sell your home!) On the other hand, the speedy market has not quite reached the upper ranges yet, at least not across the board, and so you may still have a quick window to buy above $1.2 million before prices rise in the same fashion as they have in your current home’s market. If you wait to make that move up, you may sell your current home for more than you could now (assuming prices continue to rise), BUT you would end up paying a LOT more for your new home when prices rise across the board.


If you sold now, you might sell your current home for $900,000, and buy your new home for $1.3 million. If you wait until next year, prices could rise 6%, netting you an additional $54,000 on the sale of your existing home; but costing you $78,000 more on your new home. You end up losing $24,000. (Note: Last year home prices in our area actually rose 7.12%.)

2. Interest rates continue to rise

Top Realtors Northern VA

This means unless you are paying cash, the price of your new home keeps getting more & more expensive. All of the major forecasters (Mortgage Bankers Association, FHLMC, Fannie Mae, etc) are predicting interest rates to exceed 5% by 2015. That’s about 1% higher than where rates are now. Keep in mind that a 1% rise in interest rates equals a 10% decrease in home price affordability. So moving up NOW may be much better than later in terms of your mortgage payment and how much house you can buy.


Take A Leap

“YOLO” is the modern version of “carpe diem”. Seize the day. You only live once. While that sounds a bit cavalier, we actually say this from experience. People often wait so long for the “perfect time” that they miss it altogether. If the reason you’re moving up is that your family has grown and you really need more space, or maybe your in-laws are aging and moving in with you, or your children are back home after college – don’t miss this opportunity. While real estate is an investment and a huge part of your financial picture, family is everything and your home is where it all happens. So call your real estate agent, analyze the numbers and if it makes sense – take the leap. Our clients often tell us they wish they had leapt a long time before they did.

If you’re thinking of moving up – or moving down - call The Belt Team at (703) 242-3975. We’ll walk you through the process and help you analyze the “ins & outs” – where prices are in your current neighborhood & your dream neighborhood, whether you need to buy first or sell first, how you can find homes before they hit the market - there may even be some you haven’t though of!

If you’d like to maximize profits AND make your life easier – call (703) 242-3975 and ask for Terry Belt or Kevin Kleifges. We’ll help you construct a strategy to do so.

Search Homes For Sale in Northern VA On Our State-of-the-Art Search Site

FREE – How Much Is My Home Worth

Homebuyers – Have You Seen The Ghost?

Real Estate

If you’re looking to buy a home in Northern Virginia, make sure you’re looking for the ghost – the ghost inventory, that is!

With today’s market conditions & extremely low inventory, it’s more important than ever for Buyers to work with well-connected agents who typically sell a lot of homes in the area you’re looking in. Why? A lot of homes are selling without ever coming on the market! We call this “ghost inventory”.

Just this past weekend, The Belt Team sold ANOTHER Vienna home before it ever hit the MLS. (Note: The Belt Team has sold almost twice as many homes in Vienna as any other Realtor or team in the past 5 years!) The Sellers have lived in their home for 23 years & are happy to get a great price on their home without the hassle of staging, prepping & showing the house over & over. And the Buyers are over the moon to find their dream home without the stress of falling in love & losing out to a higher bidder.

This is not an isolated case. In fact, we just were notified Friday about a review posted on independent review site and our clients Ben & Sai Apfelbaum who bought in the Pimmit Hills area of Falls Church also happened to mention how valuable it was that they were able to get into properties before they came on the market.

Kevin Kleifges The Belt Team

Here’s what they said:

“My husband and I worked with Kevin Kleifges of Keller Williams Realty’s BELT Team for almost four months as our buyer agent from the start of our search through move in to our new home. Kevin possesses great real estate agent qualities. Kevin knows the area (for us – Vienna / Tysons / Falls Church), is very professional, and has a lot of experience in the industry. In a market with limited inventory, he has a lot of connections with other agents in the area and was able to get us in early to look at new listings or even houses that had not yet been posted. Kevin always accommodated our schedule, including showing us listings in the worst inclement weather. He helped us successfully get a contract signed in a competitive market by crafting an offer that optimized the needs of all parties. He did a great job helping us to resolve the few problems we encountered with the house and the seller’s agent. (The seller’s agent did not demonstrate the same class or integrity). Everything ran smoothly from start to finish. We appreciated the ease of working with Keller Williams. They use electronic signature so we could just sign the contracts and addendums which is so convenient. We also received a friendly reminder emails from his office suggesting the actionable items we need to do at closing and before we moved in. I am really glad that we worked with him and all of the people in his office. In addition to the work of Keller Williams Realty, Kevin presented strong connections, including quality loan officer, home inspector and repair contractors (although I ended up using my own loan officer for the purchase). His inspector came with many years of experience and identified several issues that others would have missed, which saved us time, money and headache down the road. In summary, I would highly recommend working with Kevin and his team if you are looking for expertise, loyalty, and trust in your realtor.”

Bottom Line? You don’t need GHOSTBUSTERS, you need THE BELT TEAM!

Currently, The Belt Team has “ghost inventory” in Great Falls, Oakton, Vienna, Reston & Arlington. Call (703) 242-3975 to schedule an appointment & learn about our Preferred Client Inventory List (or email The Belt Team).

Sellers – If you’d like to maximize profits AND make your life easier – call (703) 242-3975 and ask for Terry Belt or Kevin Kleifges. We’ll help you construct a strategy to do so.

Search Homes For Sale in Northern VA On Our State-of-the-Art Search Site

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