Northern Virginia Real Estate

We just posted the latest quarterly reports for the 1st quarter of 2009. You can view the reports by county and zip code here:

Average Sales Price by County

We’ve also updated the average sales price chart for fairfax, prince william and loudoun counties:

In a suprising move between regulary schedule meetings of the Federal Open Market Committee meetings, the Federal Reserve lowered the federal runds rate by 75 basis points to 3-1/2.  From the committee’s press release:

 ”The Federal Open Market Committee has decided to lower its target for the federal funds rate 75 basis points to 3-1/2 percent.

The Committee took this action in view of a weakening of the economic outlook and increasing downside risks to growth.  While strains in short-term funding markets have eased somewhat, broader financial market conditions have continued to deteriorate and credit has tightened further for some businesses and households.  Moreover, incoming information indicates a deepening of the housing contraction as well as some softening in labor markets.”

This will hopefully result in more home buyer’s taking the plunge to buy a home as well as releiving some of the pressure on current home owners with adjustable rate mortgages.

- Frank

Frank Ramos, REALTOR, e-PRO
Real Estate Consultant
http://www.northvirginiahomes.com/

Jobin Realty
Manassas, VA 20110

Below is a graph of average sales prices by county for the years 2004 – 2007.  The graph clearly shows the 2005 peak in the northern Virginia market.

- Frank

Frank Ramos, REALTOR, e-PRO
Real Estate Consultant
http://www.northvirginiahomes.com/

Jobin Realty
Manassas, VA  20110

We have posted the 2007 3rd Quarter reports for most of the Northern Virginia Counties. You can see home sales and price changes for Northern Virginia Counties by zip code. I highly recommend all northern Virginia home owners and prospective home owners take a look at them.

Both Prince William & Loudoun County average sales prices are down significantly over the 3rd quarter last year with Fairfax County actually showing an increase over last year’s 3rd quater.  I plan to post some graphs in the next week or so that should make it a little easier to see the trends.

Here is the link:

http://www.northvirginiahomes.com/quarterly-reports-2007.html

- Frank

Frank Ramos, REALTOR, e-PRO
Real Estate Consultant
http://www.northvirginiahomes.com/

Jobin Realty
Manassas, VA 20110

We have  posted the 2007 2nd Quarter reports for most of the Northern Virginia Counties.  You can see home sales and price changes for Northern Virginia Counties by zip code.  I highly recommend all northern Virginia home owners take a look at their area.

Here is the link:

http://www.northvirginiahomes.com/quarterly-reports-2007.html

- Frank

Frank Ramos, REALTOR, e-PRO
Real Estate Consultant
http://www.northvirginiahomes.com/

Jobin  Realty
Manassas, VA 20110

On Tuesday (9/18/07) the Federal Reserve lowered its benchmark interest rate by a half point to 4.75 percent, the first cut in four years, to protect the U.S. from sinking into a recession sparked by fallout from the housing-market collapse.

“Today’s action is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets,” the Federal Open Market Committee said in a statement after meeting in Washington. The central bank will “act as needed to foster price stability and sustainable economic growth.”

All I can  say is, it’s about time!  Some of us have been predicting bad things for awhile now and calling on the fed to take action.  It’s pretty obvious that, given the extent to which the U.S. economy is driven by consumer spending, any change that would result in a large number of consumers having less money to spend, such as the loss of or in some cases the complete collapse of home owner  equity, would affect the economy as a whole.  To think otherwise is really wishfull thinking.

- Frank

Frank Ramos, REALTOR, e-PRO
Real Estate Consultant
http://www.northvirginiahomes.com/

Jobin Realty
Manassas, VA 20110

Just a quick note to let everyone know that  we’ve posted the 2007 1st quarter reports for the major northern Virginia counties here:

http://northvirginiahomes.com/quarterly-reports-2007.html

The nice thing about these reports is that they are broken down by zip code so you can easily see the number of homes sold/on the market, average price and the percentage change for these statistics for your area.

We also have previous years listed here for comparison:

http://northvirginiahomes.com/quarterly-reports.html

Frank Ramos, REALTOR, e-PRO
Real Estate Consultant
http://www.northvirginiahomes.com/

Jobin Realty
Manassas, VA 20110