December 2008 - Posts

What did we do in 2009?
31 December 08 12:14 PM | Elena & Kirill Gorbounov(a) | 0 Comments   

December 31st, 2008 According to the National Association of Realtors (NAR) the average agent closes 4 transactions a year. We (Elena & Kirill) closed 49 transaction in 2008! Read More...

Filed under: What did we do in 2009? closed 49 transactions, kirill, NAR, 2008, closes, agent, average

Is it time to buy?
20 December 08 12:12 PM | Elena & Kirill Gorbounov(a) | 0 Comments   

December 20th, 2008 Now is not a fence-sitting, waiting, loitering, delaying, postponing, hesitating, wavering, faltering, foot-shuffling market. It is a Buyers’ Market! Stop listening to uninformed negative media and review the stats yourself! In 2004/05 buyers were buying into a mass craze like a herd of sheep instead of buying value they were doing what everyone else was doing. Now is the time to buy value. When you should have been afraid of paying too much you were not worried, but now that you shouldn’t be afraid you are. So, ask yourself... is it time to buy? Read More...

Filed under: Is it time to buy? Buyers' Market, should you wait to sell

Northern Virginia Housing Market Statistics - Things that you don't hear
15 December 08 12:08 PM | Elena & Kirill Gorbounov(a) | 0 Comments   

December 15th, 2008 Interesting Points: 1) The DC metro area has the lowest unemployment rate out of the fifteen largest metro areas and about two percentage points less than the national average. 2) According to a national survey conducted in 2004: the average renter's net worth: $4,800. The average homeowner's net worth: $171,000 3) In a recent survey, 8 out of 10 economists stated they believed housing prices would be higher five years from now. 4) An overwhelming majority of economists surveyed - by a better than 5-to-1 ratio - agreed with the statement, "A person can increase their long-term wealth by purchasing a house rather than renting." 5) Over the past 40 years, home values have risen more than 7 percent annually in NoVA. 6) People who purchased homes six years ago have, on average, seen the value of their homes rise over 24 percent, despite recent price declines. 7) Homeowners benefit from the power of leverage. At an annual appreciation rate of 5 percent, a 10 percent down payment on a home will return 94 percent after three years. After five years, it increases to 225 percent. After ten, 623 percent. 8) The median selling price of a single family FSBO in Virginia was $249,500 compared with $313,400 for REALTOR assisted home sales. Is 26% more for a seller's home worth paying a commission for? I'd like to think so. 9) Virginia's population is expected to grow by 500,000 by 2010. 10) RE/MAX Associates averaged 39 percent more transactions than our nearest national competitor. Read More...

Filed under: northern virginia, Real Estate in NoVA, net worth, unemployment rate, appreciation, home values, leverage, housing, afford, NOVA, DC, Market, house, REALTOR, population, Statistics, net wort, down payment, survey, economists, trends, RE/MAX Allegiance, price declines, FSBO in Virginia

Market Share for November 2008 - Who is the big Dog?
12 December 08 12:06 PM | Elena & Kirill Gorbounov(a) | 0 Comments   

December 12th, 2008 Here’s the listings’ market share for November 2008 – according to MRIS (where all the listings are entered into). RE/MAX: 14.99% Long and Foster: 13.9% Coldwell Banker: 7.37% Keller Williams: 6.99% Century 21: 5.29% Weichert: 4.84% Read More...

Filed under: Market Share for November 2008 for Northern Virginia - Who is the big Dog?

Long Term Appreciation Rates
10 December 08 12:02 PM | Elena & Kirill Gorbounov(a) | 1 Comments   

Five Year Appreciation on Housing was (cutoff was Sept 30, 2008): Virginia: 50% Maryland: 57% DC: 64% US: 29% Read More...

Filed under: Long Term Appreciation Rate in Virginia (Northern Virginia), appreciation, Virginia, interest rate, MD, DC, VA, maryland, US, appreciation on housing, home, primary residence