Loudoun County Real Estate Statistics and News

Loudoun County Sales - November 20-26

Typically the Thanksgiving Holiday slows down real estate activity and this year was no exception.  Here are the sales that occured during the week in Ashburn, Sterling and Leesburg.  If you would like the sales data for another area, please feel free to contact us.

Ashburn Sales:

Address	Subdivision	List Price	Date of Sale
43456 POSTRAIL SQ	ASHBURN FARM	$315,000	11/20/2007
21283 SMOKEHOUSE CT	ASHBURN FARM	$549,900	11/21/2007
21079 PICKERELWEED TER	ASHBURN VILLAGE	$299,900	11/21/2007
21211 OWLS NEST SQ	ASHBURN VILLAGE	$370,000	11/20/2007
20969 COHASSET TER	ASHBURN VILLAGE	$415,000	11/24/2007
43596 DUNHILL CUP SQ	BELMONT LAND BAY	$389,900	11/20/2007
22011 STONE HOLLOW DR	BROADLANDS SOUTH	$628,800	11/26/2007
22521 MAISON CARREE SQ	LOUDOUN PARKWY	$385,000	11/20/2007
21009 TIMBER RIDGE TER #103	WESTMAREN	$199,900	11/21/2007

Sterling Sales:

Address	Subdivision	List Price	Date of Sale
311 TRAMORE CT	CONNEMARA WOODS	$406,900	11/23/2007
164 APPLEGATE DR	FOREST RIDGE	$449,000	11/21/2007
46868 RABBITRUN TER	FOX CREEK	$369,000	11/21/2007
46342 SUMMERHILL PL	POTOMAC LAKES	$570,000	11/21/2007
117 ASPEN AVE	STERLING PARK	$246,900	11/26/2007
313 WILLIAMSBURG RD	STERLING PARK	$299,999	11/20/2007
100 STAUNTON AVE	STERLING PARK	$359,900	11/21/2007

Leesburg:

Address	Subdivision	List Price	Date of Sale
1183 CAMBRIA TER NE	EDWARDS LANDING	$370,000	11/23/2007
606 NORTH ST NE	EXETER HILLS	$360,000	11/20/2007
301 HANBERRY CT NE	EXETER HILLS	$474,000	11/23/2007
410 LAWFORD DR SW	GREENWAY FARM	$499,900	11/26/2007
111 PHEASANT PL SW	MEAD HILL	$499,900	11/24/2007
639 TAMMY TER SE	KINCAID FOREST	$289,900	11/26/2007
150 MEADOWS LN NE	LOUDOUN HILLS	$239,900	11/20/2007
18387 INVERRARY CIR	RIVER CREEK LAND BAY	$875,000	11/25/2007
443 GINKGO TER NE	SYCAMORE HILL	$261,250	11/26/2007
312 EDWARDS FERRY RD NE	VAC.ED FERRY MEWS	$725,000	11/24/2007

Maximize Your Profits By Catering To The Local Buyer Demographic

When you buy a foreclosure or short-sale to "flip", you are doing so in order to make the most amount of profit. Therefore, you have to think as a real estate investor/business person. What do we mean by that? Rather than making changes/renovations to the property that you like, you have to make changes/renovations that the local buyer demographic will most likely want.

Remember, you are "flipping" this house to sell it for a profit and that your target consumer is the local home buyer in that area.

If prospective buyers see your house on-line or in person do not like what they see because it's not what a typical buyer in that area wants, they will feel that the property is worth less than comparable properties. They will most likely offer you less money than comparable properties or they may just buy another similar property.

Either way, you lose money.

For example, on a recent episode of "Flip This House", the person who bought the foreclosure and "flipped" it made changes and renovations that they thought were "cool" and that they liked.

Here's what they did:

1. They painted the family room and kitchen bright lime green.
2. They painted the master bedroom an extremely bright blue.
3. They did a lot of "custom" work/details in the kitchen, which didn't fit into the local area/demographic whatsoever and was ugly to begin with.

If you saw what they had done, you probably would have said the same thing that the real estate agent did when they previewed the property:

"I'm a little worried that buyers will not like the color schemes and some of the custom work that has been done to the house."

Translation: "If you hadn't painted the house these colors and done all this custom work, which doesn't fit into what local buyers want, you'd be able to sell it faster and for more money".

These mistakes cost the investor several thousands of dollars yet, the mistakes could have been avoided at no extra cost.

Here's what the investor should have done:

1. Painted the entire house a neutral color as seen in most properties in the area.
2. Stuck with the type and color of granite, cabinets and flooring that is most common in properties of that type and in that price range.

By not doing this custom work, it would have actually cost the investor less money and increased their profit margin even more.

Don't make the same mistake this and other investors make and leave your emotions and personal taste at the door. Remember that this is just an investment and a product. Like any other product, you are selling it to a target consumer and you have to know what your target consumer wants. That is how you maximize your return and make the most amount of profit.

Best Foreclosure/REO Deal in All of Sterling!

This end unit 3 Bedroom 2 Bath townhouse in the Sugarland Square subdivision of Sterling is priced at $195,000.  It was assessed at $359,600.  That puts the current list price at only 54% of last years assessed value.   There are hardwood floors in the kitchen and family rooms.  It has 3 finished levels and over 1500 square feet.  The backyard is fenced.  Please email us if you want more information or would like to see interior photos.

Loudoun County Homes Sales - November 13 - 19

Ashburn Homes Under Contract:

Address	Subdivision	List Price	Date of Sale
43242 KATHLEEN ELIZABETH DR	ALEXANDRAS GROVE	$599,000	11/18/2007
43494 GREENWICH SQ	ASHBRIER	$349,900	11/16/2007
43097 STONECOTTAGE PL	ASHBURN FARM	$524,900	11/14/2007
21371 MARBLE CHIP CT	ASHBURN RUN	$675,000	11/16/2007
20075 CREW SQ	ASHBURN VILLAGE	$312,000	11/14/2007
43246 SOMERSET HILLS TER	BELMONT LAND BAY	$425,000	11/17/2007
19878 NAPLES LAKES TER	BELMONT LAND BAY	$569,990	11/19/2007
42433 REDSTONE TER	BRAMBLETON LAND BAY	$348,900	11/15/2007
42463 REDSTONE TER	BRAMBLETON LAND BAY	$449,900	11/14/2007
23010 SONG SPARROW LN	BRAMBLETON LANDBAY	$749,000	11/16/2007
42885 VESTALS GAP DR	BROADLANDS	$659,000	11/17/2007
43115 ROYAL FERN TER	BROADLANDS SOUTH	$419,900	11/18/2007
44090 NATALIE TER #102	LAKESHORE	$234,900	11/17/2007
22716 DEXTER HOUSE TER	LOUDOUN PARKWAY	$465,000	11/15/2007
43860 HICKORY CORNER TER #101	RIDGES AT BELMONT	$325,000	11/16/2007
19901 UPLAND TER	RIVERSIDE VILLAGE	$379,000	11/15/2007
21720 SHELLHORN RD	RYAN	$1,350,000	11/16/2007

Sterling Homes Under Contract:

Address	Subdivision	List Price	Date of Sale
118 CARDINAL GLEN CIR	CARDINAL GLEN	$444,250	11/15/2007
20804 NOBLE TER #316	CENTRL PARKE	$425,000	11/13/2007
31 HUNTLEY CT	COUNTRYSIDE	$255,600	11/19/2007
10 HALIFAX CT	COUNTRYSIDE	$499,900	11/19/2007
20772 HOLLOW FALLS TER	GREAT FALLS CHASE	$410,000	11/14/2007
47567 MAJOR BECKHAM WAY	CASCADES	$840,000	11/13/2007
47820 SCOTSBOROUGH SQ	MEDINAH HOMES	$549,900	11/17/2007
904 SHERWOOD CT #38	NEWBERRY	$259,900	11/19/2007
221 FILLMORE AVE N #3	PEMBROOKE	$169,900	11/13/2007
46455 SAFFRON CT	POTOMAC LAKES	$600,000	11/14/2007
20549 GRANT CT	POTOMAC LAKES	$679,000	11/17/2007
117 SAINT CHARLES SQ #117	PROVIDENCE VILLAGE	$204,900	11/14/2007
712 DOGWOOD ST	STERLING PARK	$262,000	11/13/2007
305 TAZEWELL RD E	STERLING PARK	$275,000	11/14/2007
201 ALDER AVE	STERLING PARK	$279,900	11/16/2007
45487 PINE TRAIL TER	TRAILSIDE	$339,900	11/15/2007

Leesburg Homes Under Contract:

Address	Subdivision	List Price	Date of Sale
40660 BLACK GOLD PL	BEACON HILL HAMLET	$999,990	11/16/2007
626 NEWINGTON PL NE	EXETER HILLS	$480,000	11/13/2007
1125 HUNTMASTER TER NE #101	FOX CHASE	$185,000	11/17/2007
302 ROZIER CT SW	GREENWAY FARM	$539,000	11/16/2007
19365 CYPRESS RIDGE TER #505	LEISURE WORLD	$250,000	11/15/2007
241 MEADOWS LN NE	LOUDOUN HILLS	$210,000	11/16/2007
43855 LOST CORNER RD	LUCKETTS	$650,000	11/13/2007
43014 WATERS OVERLOOK CT	NORTHLAKE	$779,900	11/15/2007
1218 FEATHERSTONE LN NE	POTOMAC CROSSING	$485,000	11/16/2007
819 VALEMOUNT TER NE	POTOMAC STATION	$375,000	11/16/2007
738 VERMILLION DR NE	POTOMAC STATION	$569,900	11/16/2007
18539 PERDIDO BAY TER	RIVER CREEK LAND BAY	$520,000	11/18/2007
612 YORK LN SE	SILVER OAKS	$309,900	11/14/2007
410 GINKGO TER NE	SYCAMORE HILL	$285,000	11/19/2007
201 ALDER AVE	STERLING PARK	$279,900	11/16/2007

A Quick Look at Loudoun County Rental Statistics

Here is a quick look at some statistics we pulled out of the multiple listing service for Loudoun County rental activity.  Unlike home sales, rental statistics are less comprehensive in the multiple listing service because many more people chose not to use a real estate professional to rent their properties and a lot of management companies do submit rental information to the MLS.

That being said, there is still enough data to identify trends and other observations regarding the rental market here in Loudoun County.  It also allows us to offer some conclusions as the cause of trends in our marketplace.

Here is a chart showing the increase in rental rates for 1 and 3 year periods for the different types of properties in the eastern part of Loudoun County which includes Ashburn, Sterling, Leesburg and South Riding.

Rental Rates - Eastern Loudoun County
September 1 - November 15
	Rates	vs. 2006	vs. 2004
Single Family	$2,216	-1.4%	10.7%
Townhouse	$1,735	0.1%	8.6%
Condo	$1,174	2.9%	13.5%

As a whole, rates have remained relatively flat over the past year and have only gone up slightly over the past three years.  One interesting note is the decrease in rental rates for single family homes in the last year. 

Below is a chart of the number of units that have been rented in the same marketplace during the same time period.

Rented Units - Eastern Loudoun County
September 1 - November 15
	Units	vs. 2006	vs. 2004
Single Family	93	-14.7%	121.4%
Townhouse	197	-12.4%	36.8%
Condo	50	31.6%	108.3%

This shows that the actual number of houses and townhouses that have been rented in the last year has dropped while the number of condos has increased. 

While this is just a very broad look at the rental market for Loudoun County, it does pose some questions as to what is happening today and why.  Stayed tuned for more on this topic in the weeks to come.

Handy-man Special - 43% Below Assessed Value!

This bank-owned attached single family home (duplex style) in Sterling is priced at $199,900, which is $147,600 below it's assessed value of $347,500. Though it needs work, there is definitely a lot of room between the asking price and it's potential market value.

Listed by Re/Max Renaissance - 305 Harrison St SE #200 Leesburg, VA 20175

Ridiculously Low Price - $282,900

This is a great property in the Parkside at Dulles subdivision of Sterling right on the border of Sterling and Herndon.  It has 3 Bedrooms and 3 Full Baths.  It is only 3 years old and is in extremely good shape.  The assessed value of this property is $394,500.  There are several other units in the condominium subdivision but this unit is priced at least $6,000 below all the others.  This unit will be sold very quickly because of the condition and the price.

Looking For A Complete List Of Foreclosures In Loudoun County?

Yes, Loudoun Foreclosures is primarily focused on the best foreclosures/REOs, short-sale and other great deals in Loudoun County. But if you are looking for a complete list of such properties in Loudoun County and/or the surrounding areas such as Fairfax, Arlington or Prince William counties, contact us and we will provide that to you. We have access to all foreclosure/REO and short-sale properties currently available as well as an inside scoop on those that may not be on the market yet, but are coming soon.

We also have the inside scoop on builder inventory both, "build from dirt" and "spec". This includes knowing about new homes/lots that have had deals fall through on them and will be back on the market as "specs" in the near future.

If you are looking for stats, data or resources on the Loudoun County real estate market in general, check out Loudoun Stats. If there is any other information we can provide you, please let us know.

Loudoun County Home Sales - November 6th - 12th

Ashburn Sales

Address	Subdivision	List Price	Date of Sale
21152 HEDGEROW TER	ASHBURN FARM	$269,900	11/7/2007
21188 HEDGEROW TER	ASHBURN FARM	$281,900	11/7/2007
21116 WINDING BROOK SQ	ASHBURN FARM	$299,000	11/8/2007
20402 ELM GROVE TER	ASHBURN FARM	$339,000	11/6/2007
20614 COPPERSMITH DR	ASHBURN FARM	$525,000	11/8/2007
44187 TIPPECANOE TER	ASHBURN VILLAGE	$356,000	11/8/2007
42922 REDFIELD ST	BELMONT FOREST	$469,000	11/10/2007
20631 BREEDERS RUN CT	BELMONT RIDGE	$275,000	11/9/2007
21809 WINGFOOT CT	BROADLANDS SOUTH	$519,000	11/12/2007
21325 CLANCY TER	FARMWELL HUNT	$365,000	11/8/2007
21790 LADYSLIPPER SQ	FAULKNERS LANDING	$413,900	11/6/2007
22689 SIMONET BLANC TER	LOUDOUN PARKWY CNTR	$489,900	11/6/2007
43860 HICKORY CORNER TER #106	RIDGES AT BELMONT	$299,900	11/12/2007
20951 TIMBER RIDGE TER #102	WESTMAREN	$189,900	11/12/2007
20950 TIMBER RIDGE TER #203	WESTMAREN	$199,900	11/7/2007

Sterling Sales

Address	Subdivision	List Price	Date of Sale
20669 RIPTIDE SQ	CASCADES	$389,900	11/8/2007
46713 ASHMERE SQ	POTOMAC LAKES	$409,000	11/8/2007
7 GLENGYLE LN	COUNTRYSIDE	$399,000	11/8/2007
21 LIPSCOMB CT	COUNTRYSIDE	$525,000	11/6/2007
110 PEPPERIDGE PL	FOREST RIDGE	$425,000	11/11/2007
106 ANDREW PL #44	SEC NEWBERRY	$250,000	11/7/2007
46738 OAKMERE TER	POTOMAC LAKES	$317,000	11/7/2007
46419 HAMPSHIRE STATION DR	POTOMAC LAKES	$475,000	11/9/2007
46140 CECIL TER	POTOMAC LAKES	$499,900	11/10/2007
326 LANCASTER SQ #326	PROVIDENCE VILLAGE	$215,000	11/10/2007
204 ASH RD	STERLING PARK	$235,000	11/8/2007
509 FILLMORE AVE	STERLING PARK	$249,900	11/12/2007
900 MAPLE AVE E	STERLING PARK	$250,000	11/12/2007
406 WILLIAMSBURG RD	STERLING PARK	$256,900	11/6/2007
327 DERBY CT	STERLING PARK	$298,000	11/9/2007
804 ROANOKE CT	STERLING PARK	$299,900	11/6/2007
115 GARFIELD RD N	STERLING PARK	$339,900	11/6/2007
201 LINCOLN AVE	STERLING PARK	$415,000	11/10/2007
21856 GOLDSTONE TER	WOODSTONE	$299,900	11/8/2007

Leesburg Sales

Address	Subdivision	List Price	Date of Sale
676 GATEWAY DR SE #803	BROOKMEADE	$219,000	11/8/2007
2 AYR ST SW	COLONIAL SQUARE	$250,000	11/10/2007
43237 LEE PATENT DR	COTON COMMONS	$680,536	11/6/2007
1800 WOODS EDGE DR NE	EDWARDS LANDING	$545,000	11/6/2007
131 MORVEN PARK RD NW		$550,000	11/7/2007
1111 JANNEY ST SW	LEESBURG CO CLB	$455,900	11/7/2007
635 CONSTELLATION SQ NE	LEESBURG GATEWAY	$189,500	11/9/2007
19385 CYPRESS RIDGE TER	LEISURE WORLD	$309,000	11/7/2007
18275 CHANNEL RIDGE CT	NORTHLAKE	$699,900	11/8/2007
1303 FEATHERSTONE LN NE	POTOMAC CROSSING	$424,900	11/7/2007
18415 KINGSMILL ST	RIVER CREEK	$809,999	11/6/2007
104 MUFFIN CT SE	STOWERS	$455,900	11/12/2007
304 EBAUGH DR SE	STRATFORD LAND BAY	$339,900	11/9/2007
527 KALMIA SQ NE	SYCAMORE HILL	$274,000	11/12/2007
223 SHENANDOAH ST SE	VA KNOLLS	$199,900	11/8/2007

These are the sales for the 3 most active areas of Loudoun County.  If you would like sales data for another area, please let us know.

Great Non-Foreclosure Deal In Loudoun County

This 2 year old, 3 bedroom, 3.5 bath, 2366 square foot town home in Ashburn was recently reduced to $399,000. This is the same price as 2 others for sale and less than 1 other for sale that are all on the same street. The difference is that the other 3 properties are all short-sales or foreclosures and are being sold "as is" with no contingencies. This property is not a short-sale or foreclosure allowing for a Home Inspection and other contingencies and, more importantly, peace of mind.

Considering that non-foreclosure comps are in the $415K to $425K+ range, this is an excellent opportunity for those looking for a primary residence.

Listed by Long and Foster Real Estate, Inc - 46191 Westlake Dr #201 Sterling, VA 20165