23054 Fontwell Sq. Sterling, VA 20166 – Parkside at Dulles Community

23054 Fontwell Sq. Sterling, VA 20166 was JUST listed by Beth Dadisman & The Belt Team

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Price and LOTS more photos of 23054 Fontwell Sq. Sterling, VA 20166

Call Beth Dadisman & The Belt Team at (703) 242-3975 to schedule a showing!

Incredible 3 bedroom/3 bath, 3 level townhome with garage. Located in the popular Park Side at Dulles community. This light filled home features a spacious open floor plan, updated carpets, fresh paint, large windows, eat-in kitchen, updated appliances, gas fireplace, stone patio, and so much more! This home is perfect for entertaining & everyday life!

 

U.S. Housing Inventory Hits a New Low – That’s GREAT! (If You’re Selling!)

Here’s the latest from our colleagues at Keeping Current Matters.
For info about YOUR neighborhood (or the neighborhood you want to live in), give The Belt Team a call at (703) 242-3975. We can provide you with detailed facts PLUS the “boots on the ground” data that will help you make the RIGHT move! Because what’s happening in Vienna may be different than in Arlington. Even more important is price range – because we are seeing a slowing in the upper ranges, while other price ranges remain HOT!
U.S. Housing Inventory Hits a New Low… List Your House TODAY! | MyKCM

Every summer, families across the country decide if this will be the year they sell their current house and move into their dream home.

Mortgage rates have hovered around 4% for all of 2017, forcing buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW!! At the same time, inventory levels of homes for sale have dropped dramatically as compared to this time last year.

Trulia reported that “U.S. home inventory has tumbled 8.9% over the past year and has now fallen for nine consecutive quarters.” There is now 20% less inventory than there was five years ago.

Here is a chart showing the decrease in inventory levels by category:

U.S. Housing Inventory Hits a New Low… List Your House TODAY! | MyKCM

Bottom Line

Demand for your home is very strong right now while your competition (other homes for sale) is at a historically low level. If you are thinking of selling in 2017, now may be the perfect time.

FREE INSTANT ONLINE HOME VALUATION

Search Homes For Sale on our State-of-the-Art Search Site (It’s updated faster and more often than other sites!)

Top Realtor Vienna VA

Lack of Homes for Sale Slowing Down the Housing Market

WHat Is My Home Worth

Here’s an update from “Keeping Current Matters” about the state of the national real estate market. In general, in Northern VA, we are seeing similar things to what KCM reports, but not in 100% of the areas. For most of you, this means it’s a GREAT time to sell!

Call Terry Belt & The Belt Team at (703) 242-3975 for more info on YOUR neighborhood.


Lack of Homes for Sale Slowing Down the Housing Market | MyKCM

The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are up. Home sales are up. Distressed sales (foreclosures and short sales) have fallen dramatically. It seems that 2017 will be the year that the housing market races forward again.

However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the winter, supply is not keeping up.

Here are the thoughts of a few industry experts on the subject:

National Association of Realtors

“Total housing inventory at the end of December dropped 10.8%…which is the lowest level since NAR began tracking the supply of all housing types in 1999. Inventory has fallen year-over-year for 19 straight months and is at a 3.6-month supply at the current sales pace.”

Jonathan Smoke, Chief Economist for Realtor.com

“More than two-thirds of the markets are seeing less inventory now compared to a year ago.”

 Lawrence Yun, Chief Economist at NAR:

“The dismal number of listings in the affordable price range is squeezing prospective first-time buyers the most. As a result, young households are missing out on the wealth gains most homeowners have accrued from the 41% cumulative rise in existing home prices since 2011.”

 Sam Khater, Deputy Chief Economist at CoreLogic

“The lack of affordable supply is really driving up home prices.”

 Peter Muoio, Chief Economist at Auction.com

“Tight housing inventory remains a constraining factor limiting stronger sales growth… We expect further price growth to entice more homeowners to list their homes, particularly as existing homeowners have greater equity.”

Bottom Line 

If you are thinking of selling, now may be the time. Demand for your house will be strong at a time when there is very little competition. That could lead to a quick sale for a really good price.


Call Terry Belt & The Belt Team at (703) 242-3975 to schedule a FREE personalized consultation. Find out if your home is in a Seller’s Market or a Buyer’s Market!

WHat Is My Home Worth

Northern VA Housing Market – Post Election Update

Credit: Keeping Current Matters

Credit: Keeping Current Matters

Election years in Northern Virginia are usually a time when the real estate market takes a deep breath and pauses to see what will happen. “I’m putting my home search on hold until we see how the election shakes out”  and “I’m gonna wait and see what happens to interest rates after the election” are comments we’ve heard frequently over the past twelve elections.

Let’s look at the market stats for some of our Northern Virginia areas and see whether that rang true this year. The charts below show the number of home sales year-to-date year-over-year for 2014, 2015 & 2016. And there seems to be a pretty consistent pattern.

Northern VA Real Estate Market

Northern VA Real Estate MarketNorthern VA Real Estate MarketNorthern VA Real Estate StatsNorthern VA Real Estate StatsNorthern VA Real Estate StatsNorthern VA Real Estate StatsNorthern VA Real Estate StatsNorthern VA Real Estate StatsNorthern VA Real Estate Stats

 

 

 

 

 

 

 

 

Other than in Ashburn, sales rose significantly in 2015 over 2014. And instead of the market pausing to digest the election, home sales continued to rise in 2016. This was true in Alexandria, Arlington, Great Falls, Herndon, McLean, Oakton, Reston & Vienna – as well as in a number of other areas.

Stay tuned for our CEO Terry Belt’s 2017 Crystal Ball Predictions! (You can read his 2016 Predictions here).

Call Terry Belt & The Belt Team at (703) 242-3975 if you’d like a market analysis for your home or neighborhood. Statistics vary wildly between cities, school districts and price ranges. And if you’re thinking of selling in 2016, NOW is the time to prepare. Did you know that in many areas of Northern VA last year, Sellers who sold in January-February sold their homes for more than those who waited for the “Spring Market”?!

FREE INSTANT Estimate of Your Home’s Value

Search Home Values in YOUR Neighborhood or City on our STATE-OF-THE-ART WEB SITE

The Northern VA Real Estate Market Is Shifting – Special Message from CEO Terry Belt

I’ve lived in Northern VA for almost my entire life. And I’m a third generation real estate agent. I know both our area and real estate well! One thing I know for sure is that the real estate market is not a straight, static line and it never will be. It is always moving.

I believe we are going to see our next shift in the next 12 months or so. Local bankers and experts are giving it 12-24 months in the Northern VA – Washington DC area market before it hits. I’m calling it sooner, and yet who knows? This means I believe we will move into neutrality, then back into a Buyer’s Market. We are likely at the peak of this Seller’s cycle between now and Spring. In fact, some parts of our market have already shifted notably over the past 3 months.

I recently returned from masterminding with Gary Keller, the Chairman of the Board of Keller Williams Realty (the world’s largest real estate company with over 140,000 Realtors), and with our Top 100 agents. Approximately half of the metropolitan areas in the USA are already undergoing this shift. I am tracking it closely. We may or may not have one more spring as crazy and frenetic as this past one was, with multiple offers in the entry price ranges and buyers beating down seller’s doors. As one of the area’s top teams, The Belt Team has been privileged to help 71 families buy and sell homes so far this year, and we expect to help many more in the coming months. We have an excellent handle on the market and especially the micro markets throughout Northern VA and Washington DC. Sometimes those micromarkets are geographical and sometimes they are price driven.

What does this mean for you? Well our market has two primary seasons, although we are lucky that we don’t have extreme seasonality here. The majority of our residential real estate sales come in the spring. Our secondary market is fall: September/October. If you have been thinking about selling your home in the next few years, I highly urge you to email or call me (703-242-3975) so we can begin the conversation about home prep, pricing, and timing. You may not decide to sell now, and yet I highly recommend having the conversation now. I think selling in the next 60 days is outstanding timing.

Call, or email any time. We are happy to talk and meet with you, advise you on preparations & timing, and to give you a property and pricing analysis of your home with no obligation. Feel free to browse our website. I look forward to a continued conversation.

Best,
Terry Belt
CEO, The Belt Team

CEO The Belt Team

“Four Months Is Cray-Cray”

We often share with your the research that is brought to us by Keeping Current Matters. Recently, they quoted Jonathan Smoke, Chief Economist for Realtor.com. He said

“The increase in sales is resulting in continued tighter-than-tight supply—measured by NAR to be four months in January.  For you non-economists out there, that metric measures the number of months it would take to sell the current inventory of available homes, at the current pace. Got it? Six to seven months’ worth of homes on the market is considered normal; four months is cray-cray.”

I read that and thought, “Wow if four months is cray-ray, what is two months?” You see, places all around Northern Virginia are sitting at two months or less of housing inventory. That’s a Seller’s Market folks.

Search our state of the art home search site.

Low Inventory in Northern VA - Keeping Current MattersBuyers – you gotta be prepared. Sellers – NOW is the time.

Buyers – it’s not always price that wins a contract. Talk to your Realtor about price, AND about strategies in terms of:

  • Earnest money deposit
  • Whether or not to waive home inspection
  • Whether or not to waive financing contingency
  • Whether or not to waive appraisal contingency
  • Closing date
  • Escalation clauses
  • Introduction letters
  • Other important terms to the seller (example: they may want to rent back for a short time)
  • Finding homes to buy that are off market or before they hot the market

Sellers – preparing your home & pricing right up front will net you the MOST. Talk to your Realtor about strategies to elicit multiple offers. (Click here for an INSTANT online value estimate of your home and then call 703-242-3975 for a FREE personalized consultation.)

P.S. – Beware of selling on your own without a Realtor. You may save commission dollars, but you will likely net less on your bottom line. According to NAR, only 2% of Buyers purchased a home from a Seller they didn’t already know. 92% of Buyers used the internet and of those, 95% used an agent, builder or builder’s agent. So selling on your own can severely limit your exposure and consequently your final yield.


Keeping in mind the definitions that less than 3 months inventory is a Seller’s Market, 3-6 months is a Balanced Market, and more than 6 months is a Buyer’s Market – where do the towns and cities of Northern Virginia stand today:

Buyer’s Markets

  • Great Falls – 6.7 months

Balanced Markets

  • Dunn Loring – 5 months
  • McLean – 4 months

Seller’s Markets

  • Alexandria – 1.6 months
  • Annandale – 1.4 months
  • Arlington – 1.8 months
  • Ashburn – 1.8 months
  • Burke – 1.1 months
  • Centreville – 1.1 months
  • Chantilly – 1.5 months
  • Clifton – 2.7 months
  • Fairfax Station – 1.5 months
  • Falls Church – 1.7 months
  • Herndon – 1.4 months
  • Oakton – 2.1 months
  • Reston – 1.4 months
  • Springfield – 1 month
  • Sterling – Less than 1 month
  • Vienna – 2.7 months

Search our state of the art home finder site where listings are updated FASTER than other sites.

If you’re thinking of buying or selling in this “cray-cray” market, email or call Terry Belt & The Belt Team at (703) 242-3975. We specialize in real estate success stories. We’ll help you make the BEST move in today’s market.

Top Realtors Northern VA

15,315 Houses Sold Yesterday! Did Yours?

Great info about home sales from Keeping Current Matters:

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U.S. Home Sales

There are some homeowners that have been waiting for months to get a price they hoped for when they originally listed their house for sale. The only thing they might want to consider is… If it hasn’t sold yet, maybe it’s not priced properly.

After all 15,315 houses sold yesterday, 15,315 will sell today and 15,315 will sell tomorrow.

15,315!

That is the average number of homes that sell each and every day in this country according to theNational Association of Realtors’ (NAR) latest Existing Home Sales Report. NAR reported that sales are at an annual rate of 5.59 million. Divide that number by 365 (days in a year) and we can see that, on average, over 15,315 homes sell every day.

The report from NAR also revealed that there is currently only a 4.8 months supply of inventory available for sale, (6 months inventory is considered ‘historically normal’).

This means that there are not enough homes available for sale to satisfy the buyers who are out in the market now in record numbers.

Bottom Line

We realize that you want to get the fair market value for your home. However, if it hasn’t sold in today’s active real estate market, perhaps you should reconsider your current asking price.

(Reprinted – KCM)

******************************************************************************************************Top Realtors Northern VA
We would add that it’s important to analyze YOUR particular market – not just use the national figures. But the principles remain the same. You need to know how many homes are selling and the number of months supply of inventory. If you would like a FREE personalized analysis – give our Listing Specialists (Terry Belt & Kevin Kleifges) a call at (703) 242-3975.

General Market Stats & Trends: