2017 Market Review: Brambleton Real Estate

2017 Market Review: Brambleton Real Estate

A Review of the 2017 Real Estate Market and a look at what 2018 has in store.

Check out our infographic below on how the Real Estate Market fared in Brambleton during 2017.

2017 brambleton market real Estate review

Looking Back at 2017

Overall, the Brambleton Real Estate market fared well, with 356 homes sold in the community. This is up 13% over the previous year! Homes also spent a lot less time on the market. Brambleton also saw in increase in sales prices for Single Family homes. Townhomes and Condo prices dipped just slightly, down 1.9% and .30% respectively.

Brambleton in 2018

The Brambleton Library is coming along nicely! It’s scheduled to open mid-2018. To follow the progress of the construction or to volunteer for a great cause visit the Friends of the Brambleton Library Facebook page.

Are you old enough for Birchwood? Birchwood is Brambleton’s 55+ Community located off of Loudoun County Parkway, between Shreveport Drive and Creighton Road. Construction continues on this amazing “town within a town” – with gardens, a lake, a clubhouse, and more! Low maintenance homes, condos, and villas will be For Sale beginning in January and February of 2018.

In the Fall of 2017 the JS Realty Team hosted a “Sip & See” tour of 13 of the New Model Homes that opened. It was an exciting weekend touring these beautiful models by Van Metre, Miller & Smith, Knutson, & Winchester Homes. Many of these homes are now available for quick delivery!

If you’re thinking about buying one of the beautiful New Construction homes in Brambleton or Birchwood, don’t hesitate to contact us. We’d love to help you navigate the process of buying New! Don’t forget to ask about our $3,000 New Construction Rebate offer! 

Contemplating Selling your home? We offer a 4.5% Cutting Edge, Full Service, Enhanced Listing Fee. Call us today! 

2017 2018 JS Realty Team jsrealty4u real estate
JS Realty Team Co-Founders Scott Koval & Sarah Taylor

Infographic: Loudoun County Real Estate Update

An Infographic about the 2016 Real Estate Market 

Our infographic shows how the Residential Real Estate market stayed strong through the end of 2016. And that carried over into the new year! Despite interest rates rising slightly during the 1st Quarter of 2017, the market stayed steady. Buyers competed against a low inventory of homes on the market through our unseasonably mild winter. As Spring arrived in full force more homes are being listed For Sale.

real estate jsrealty4u market update infographic

As you can see, 6,275 homes were sold in Loudoun County during 2016, which was up 5% over 2015. Single Family homes sold for an average of $609,994. Townhomes sold for an average of $408,173. Again, these were an increase over the previous year. And we expect this upward trend to continue as the market stays strong and steady.

As of April 25th of this year, there were 1,241 homes for sale in Loudoun County. Interest Rates are at the lowest they’ve been all year which makes now a great time to buy and sell Real Estate! Are you interested in getting pre-qualified for a home loan or refinancing a current loan? Contact our trusted friend and Lender, Keith Harris at Intercoastal Mortgage by clicking here or call (703) 259-0788.

The JS Realty Team @ Samson Properties is excited to offer sellers a $7,500* Rebate! Contact our Expert Agents today to learn how we can save you REAL CASH.

*Rebate based on $500,000 sale at 6% commission.

Keith Harris at Intercoastal Mortgage Company
NMLS ID # 838973
Company NMLS ID # 56323
(www.nmlsconsumeraccess.org)
Intercoastal Mortgage Company is an Equal Housing Lender.

Brexit and US Mortgage Rates

The Effect of Brexit on Mortgage Rates in the United States

JS Realty Interest Rates brexitOn June 24, 2016, England voted to leave the European Union. This historic decision, referred to as “Brexit”, has caused a ripple effect here in the United States. It has driven interest rates down to their lowest mark in three years. Mortgage interest rates will fluctuate most directly due to the cost of mortgage backed securities. When mortgage bond prices go up, interest rate tend to fall and when mortgage bond prices drop, mortgage rates will rise. In addition to this correlation, the overall US economy will also influence mortgage rates.

GJS Realty Opposite directions brexitenerally speaking, when the economic indicators such as the stock market, inflation, and unemployment are positive, mortgage interest rates will rise. When the economic indicators suggest our economy is not prospering, rates will drop.

In December of last year, the Federal Reserve projected that it would raise interest rates up to four times in 2016. On June 15, 2016, Federal Reserve Chairperson, Janet Yellen decided NOT to raise rates. This was due to a very weak employment report in May.

Brexit has caused severe volatility in the global stock markets and has had a negative impact on the stock market here in the United States. No one knows what the long term impact of Brexit will be, but it is safe to say that the immediate impact of England’s decision to leave the European Union has directly led to lower interest rates.brexit

If you are considering buying a home, or if you currently have a mortgage and are considering a refinance, right now is a perfect time to get a mortgage loan evaluation from a licensed mortgage professional.

Not sure where to start? Click here to contact Senior Loan Officer Keith Harris or to get pre-qualified.

Keith Harris at Intercoastal Mortgage Company
NMLS ID # 838973
Company NMLS ID # 56323
(www.nmlsconsumeraccess.org)
Intercoastal Mortgage Company is an Equal Housing Lender.

Looking Back: Loudoun County Growth in 2015

Looking back at Loudoun County’s growth in 2015 and what the future has in store

Loudoun County experienced another great year of growth in 2015 and the future is looking great! From housing and business growth in the east to the farm land and wineries in the west, Loudoun County is appealing to a broad spectrum of Northern Virginians.

JS Realty increase loudoun looking OVERALL GROWTH
Loudoun has emerged into the upper echelon of Data Center Clusters in the world. These types of businesses add a commercial tax base that doesn’t overwhelm the infrastructure. The Loudoun Times-Mirror states that according to the Bureau of Economic Analysis, Loudoun County grew nearly twice the rate of local jurisdictions in Virginia and the United States, when using per capita income. From Top Golf and One Loudoun to the vast number of new restaurants and businesses opening up, Loudoun County is positioning itself very well for the future.

REAL ESTATE
Loudoun County Real Estate also had a very strong year in 2015. 6,485 homes were sold this past year – which is up from the 5,802 sold in 2014. The average sold price for all homes sold in Loudoun County was $487,687.

JS Realty looking back loudoun 2015OVERVIEW
3,091 single family homes
2,398 townhouses
812 condos
184 “other” properties

DETACHED HOMES
3,091 sold
Highest Price: $5,500,000 on Carters Farm Lane (Middleburg)
Lowest Price: $124,900 on Railroad Street (Bluemont)

TOWNHOMES
2,398 sold
Highest Price: $1,000,000 on Fairway Oaks Square (Leesburg)
Lowest Price: $125,000 on Hancock Place (Leesburg)

CONDOS
812 sold
Highest Price: $699,000 on Leopards Chase Terrace (Sterling)
Lowest Price: $81,000 on Washington Street NE (Leesburg)

jsrealty4u looking loudoun 2015 future silver metroWith the Silver Line Metro extending through the county on the horizon, the possibility of a ballpark, and the continued growth in the housing and business sectors, Loudoun County is looking more and more like the ideal place to live in Northern Virginia.

2016 Brambleton Real Estate Market Review

How did the 2016 Brambleton real estate market fare? And what can you expect in 2017?

This handy infographic illustrates how the Brambleton Real Estate market fared in 2016 compared to 2015.

Brambleton Bram Infographic Real Estate 2016 JSRealty4U

While 315 homes were sold in 2016, it is down 11% from the previous year. In 2015, 354 homes were sold during the same time period (Jan-Dec). On a positive note, this year homes spent less time on the market and had higher sales prices than homes sold in 2015.

Looking ahead – Brambleton in 2017

Sales begin in January of 2017 for Birchwood at Brambleton – low maintenance condominiums, courtyard homes and villas by Miller & Smith and Van Metre Homes. Prices start from the $300’s.

“Brambleton Town Center” is the new townhome community by Van Metre Homes. Located in the heart of the town center, construction begins in the Spring of 2017. They will offer 3 distinctive and different townhome designs with an urban and contemporary feel.

Phase 1 is already under construction and 75% sold out at Downtown Brambleton. Also located in the town center, Downtown Brambleton by Knutson features 4-story elevator townhomes with a “Yard in the Sky.”

The JS Realty Team offers FREE home analysis & consultations and a
4.5% FULL Service Listing Fee (total Real Estate commission).
Whether buying, selling, or investing, we can lead you to great real estate solutions in 2017.  Schedule your FREE no obligation consultation today!

Choosing a Lender: Local VS Online

When it comes to finding a lender for a mortgage loan, many borrowers take the same approach as with most other needs – they resort to the internet. This approach can be very fruitful, but it can also have some pitfalls. Today, we’re going to discuss some of the advantages of working with on-line lenders as well as advantages of working with local lenders.

Often times an on-line search for mortgages will result in finding mortgage brokers that are advertising very competitive rates. While getting the lowest interest rate is a goal for most borrowers, it may come with some unforeseen costs. Mortgage brokers usually have access to multiple investors so that they can “shop around” for low rates when it is time to lock in a loan for their borrowers. Generally speaking, the more investors they have access to, the better chances of getting a very competitive rate.

ONLINE LENDERS
lender computer research jsrealty4uSo why not go on-line to find a mortgage broker that can offer a low interest rate? Because the rate is only part of the equation. Is the broker charging discount points to be able to offer such a good rate? If there are points involved, the lower rate could results in a worse financial scenario for the borrower.

Most mortgage brokers do not participate in the processing or underwriting of the loan. The mortgage broker is just a “middle man” that is paid to link a borrower with an investor and is left out of the most critical part of the loan approval process. They often gather the information from the loan application, along with supporting documentation, and then send it off to the investor so that they can process and underwrite the loan. Many times, the loan will have some “issues” that require additional documentation or explanations from the borrower. In some cases, the broker is not aware of any issues with the loan. Even worse, if they are aware of the issues, they have no control as to how the issues can be corrected or how long it may take to get the problem resolved.

Another important aspect of any loan is the appraised value of the property that is being used as collateral. If your mortgage broker is from a different part of the country, how do you know that they are using appraisers that have a keen understanding of the nuances of property values in the DC Metropolitan area? Just in Northern Virginia alone, property values for similar type homes can vary greatly by zip code, school district, and city. It is important that the appraisers understand these differences when compiling an appraisal report.

LOCAL LENDERS
lender business people interview sell homeSometimes it is important to be able to have a face-to-face meeting between the lender and the borrower. Many borrowers would prefer to hand deliver valuable and sensitive personal financial information versus sending it via email or some other electronic format. In addition, it is also comforting for some borrowers to be able to shake hands with the people that will be making the determination of whether a loan of hundreds of thousands of dollars will be approved.

There are mortgage programs that are specific to a general area or state. Recently, VHDA was offering to pay 3% of a sales price to qualified borrowers purchasing a home in Virginia. The benefit to borrowers qualifying for this program could be as much as $15,000! Having knowledge of these types of programs is essential when determining the best loan solution for borrowers. It is unreasonable to expect a mortgage broker from another part of the country to know about specific programs in your area.

OUR PREFERRED LENDER
JS Realty Intercoastal MortgageIntercoastal Mortgage Company is a local lender with headquarters located in Fairfax, VA and has been providing residential loan solutions for the DC Metro area since 1987. Intercoastal Mortgage Company will fund loans that have been processed and underwritten “in house” at our Fairfax, VA location. Similar to mortgage brokers, Intercoastal Mortgage Company (ICM) has access to multiple investors which allow us to look at various outlets when locking in a rate for a borrower. If the borrower has good credit and income, it may be as simple as seeing which investor has the lowest rate at time of the loan lock. If the borrower has experienced credit challenges, a short sale or foreclosure, ICM has access to investors that will service loans of this type. Perhaps there are programs such as the VHDA grant program that can save thousands of dollars for the borrower. We work very hard to keep updated on all local loan programs.

Because the processing and underwriting is completed “in house”, ICM is able to meet closing dates that many mortgage brokers are unable to meet.

The appraisal process is completed by having access to multiple “local” appraisers that know the DC area very well. The “pool” of certified appraisers that ICM uses have all shown their knowledge of the local area for an extended period of time.

The chart below sums up the advantages of working with a local lender versus an online lender.

Lenders

As you can see, a local lender can access multiple investors to offer very competitive rates, along with excellent service and timeliness that is extremely important in today’s lending environment.

 

JS Realty Keith Harris
Keith Harris
NMLS # 838973


Keith Harris
Senior Loan Officer
Office: 703-259-0788
keithh@icmtg.com

 

 

 

DO I SELL OR RENT MY HOUSE?

A few weeks back we gave you some info on how to decide whether it made more sense for you to Rent or Buy a home. Today we’re going to discuss renting out your home versus selling it. There are many factors to consider before making that decision. Here are just some of the questions you must answer to make an informed decision:

JS Realty Rent Question

Monetarily, how would renting affect your bottom line?
How does the rental market compare to the sale market in your neighborhood?
How emotionally attached to your home are you?
How permanent is your reason for moving – are you moving out of the area for good or do you want a new/different home?
What condition is your home in, has it been updated?

ALL ABOUT THE MONEY
If you need the proceeds from the sale of your home to purchase another home then obviously renting is definitely not an option. If you can cover the costs of owning your home by the rental income your home will bring, then you might be a candidate for renting your home. Remember: your costs not only include your mortgage and any HOA/Condo fees, but the upkeep and maintenance. If you can make a positive cash flow plus receive the tax benefits, then renting might be an option.JS Realty Refinance Monney Calculator Bills

Another financial part of the equation is how your homes market will look 5-10 years from now. Although no one has a crystal ball to know exactly how the Real Estate market is going to react, determining what the market is likely to do will help in your decision. If your homes market is on the rise, then you could possibly benefit from having tenants that pay for the cost of keeping the home, and you’ll also be making money on the equity that’s being built!JS Realty Graph Real Estate

WHY ARE YOU MOVING?
The reason for your move also needs to be examined. If you are leaving the area and do not plan on returning, then renting and managing your rental home becomes JS Realty Prop Management Rentmore difficult. If this is the case, but you definitely want to rent, you should consider using the experience of the Property Management Team at the JS Realty Team. Our Property Management Team will make the managing of your home as stress-free as possible. And if you do plan on returning to the area after a couple of years away, then you need to determine if you are going to want to move back into the same home, or find a new one.

ARE YOU ATTACHED TO YOUR HOME?
JS Realty Rent Sell Landscape Home
This is another major factor to consider. How tolerant will you be of strangers living in your home? For example, if having your prized landscaping not kept up to your standards would make you upset, you may want to reconsider if renting is right for you. No matter how well you screen your potential tenants, there is still the potential that they will not treat your home like you do. The JS Realty Team performs our due diligence when screening potential tenants and we have had tenants that have left our clients homes in better condition than when they first moved in. On the flip side, we’ve also had tenants that did not fare as well as we would like. You are always taking a chance when you let strangers live in your home.

IS YOUR HOME UPDATED?
JS Realty Rent Sell Renovate Update
Tenants tend to be less fixated on items such as fixtures, appliances, and such because they are renting and only going to be there on a short term basis. Buyers are going to be more selective when choosing a home, and may rule out one that has not been updated. If you need to invest time and money to update your home for the sale market, this also needs to be entered into your decision making process.

There are many factors that go into deciding whether to rent out or sell your home. Trust the experience our JS Realty Team members have to go over your personal situation and discover what the best options are for you. Contact us today to get started!

JS Realty Free Analysis Contact UsThe JS Realty Team – not only serving Brambleton, serving all of Northern Virginia.

MARKET UPDATE – LOUDOUN COUNTY

JS Realty Flag LoCoEarlier this month the JS Realty Team at Samson Properties provided a market analysis of Brambleton in Ashburn, Virginia. Today we are going to expand the market update to include all of Loudoun County, and compare the trends of the whole county to what we saw in the Brambleton subdivision.

Q1 2015 Loudoun County Market Update – Full Report

The Loudoun County housing market has also had a strong first quarter. The sold dollar volume is up + 19.56% from JS Realty Where Market Going Newspaperthe previous year and units sold are also up +16.88%. The percentages are obviously not as large when compared to Brambleton, but keep in mind we are looking at Loudoun County as a whole, not just one of its most popular subdivisions. When you compare average days on the market in Loudoun County to the previous year you will see a modest increase from 58 in 2014 to 81 in 2015. This can be mostly attributed to the increase in inventory from the year before – classic “supply and demand”. Overall, similar to Brambleton, the whole county is experiencing a market that is on the move in a positive way.

The JS Realty Team also mentioned previously that the “buzz” in the lending world was that interest rates were going to rise slightly over the summer. We have seen that come to fruition over the last couple weeks. They have crept up a little, but are still close to historical lows.

JS Realty Buyer Seller Road SignWe expect this positive market to continue for the foreseeable future. The JS Realty Team has stayed busy helping our clients achieve their goals through the buying and selling of homes. It has been a great year so far and we look forward to helping even more of our clients in the remainder of 2015.

Have a great summer! Don’t hesitate to contact a JS Realty Team member with any questions or to get a FREE no obligation home/market analysis on your home.

JS Realty Free Analysis Contact Us

The JS Realty Team – not only serving Brambleton, serving all of Northern Virginia.

MARKET ANALYSIS – BRAMBLETON

It is always a great idea to check in and understand how our real estate market is doing. So today we are taking a look at our local market – specifically 20148. This includes all of the Brambleton market and some other great surrounding neighborhoods.

For the full report, click here: Market Statistics-20148-Q12015

real estate market graph increaseIn the first quarter of 2015, things are looking pretty positive all the way around. Our most impressive number is the sold volume dollars, which is up by + 34.7%. The number of units sold is up by +34.26%. This tells us quickly that there was a larger selection of homes for Buyers to choose from, and they did in fact choose to buy – which pushed these percentages up. Interestingly enough, this did push days on the market up just a bit, as it rose 13.79%.  Days on the market increasing gives a slight lean towards a Buyers’ market, which is reflected somewhat in the average sold price per unit, which is down slightly -0.80%.

JS Realty variable mortgage ratesThe key fact here is the the market is moving! Sellers are listing and Buyers are buying. Interest rates remain at a historically low rate, keeping our market healthy. The “buzz” in the lending world is that we should expect to see interest rates rise slightly, potentially headed towards 5% within the next 12 months. Keep this in mind while planning your next move, whether it is buying or selling, as both markets will feel the effects of higher interest rates.

Brambleton is located in the 20148 market and it remains a hot neighborhood not only locally but as a nationally recognized, award winning community!

Fun Facts about the Brambleton market:
JS Realty Female Women Cafe Lunch-Average adult age is 42
-Average household income is $139,971
-There are +2.32% more females (in the local population)

The JS Realty Team are your local Brambleton experts! We offer 4.5% Full Service Listing fees and cash back to our Buyers!  If you are looking to Buy or Sell, contact us today for a free analysis of what we can do for you.

JS Realty Free Analysis Contact Us

The JS Realty Team – not only serving Brambleton, serving all of Northern Virginia.

MORTGAGE RATE MARKET UPDATE

Recently I provided an overview of what makes mortgage interest rates fluctuate. Today, I want to provide an update of the mortgage industry in a general sense.

In the summer of 2013, the Fed announced that they would begin tapering the purchase of mortgage backed securities (MBS). The practice of buying MBS’s was intended to help keep mortgage rates low. That announcement caused a spike in JS Realty Interest Ratesinterest rates from the low 3% to over 4.5%.

At the beginning of 2014, rates on 30 year fixed rate conventional loans continued to remain in the high 3% to the low 4% range. At that time, you would be hard pressed to find anyone who thought rates at the beginning of 2015 would be as low as the year before. Well, that is exactly what happened! During the second full week of January, rates dropped to their lowest point in over a year with 30 year rates hitting the 3.625% mark. Rates have fluctuated between 3.625% and 4% for the past few months. As we begin the month of June, we have seen rates rise the first few days of the month.  But what does that mean for the future?

JS Realty increase mortgage rateNo one can tell for sure what rates will do, but everything I hear and read indicates that interest rates will rise gradually through 2015.  We may see rates approaching 4.5% or even higher by the end of the year.

From an historical perspective, rates are lower now than they have been for the last 10 years and are only slightly higher than the lowest point in 30 years, which was near the end of 2012 and the beginning of 2013. It is only reasonable to JS Realty Mortgage Loan Applicationbelieve that rates will gradually increase. It is also reasonable to assume that rates may rise to the 5% mark by the end of 2015 or the first half of 2016.

We have been very fortunate to have had such low rates for the past five years. It is a great time to purchase a home and it is a great time to consider refinancing if you haven’t done so since 2010. As the saying goes “There’s no time like the present.

JS Realty Keith Harris
Keith Harris
NMLS # 838973

Every borrower has a unique need, as far as their loan is concerned. If you have any questions or would like more information, please contact our preferred Lender, Keith Harris at Intercoastal Mortgage Company.

 

 

The JS Realty Team – not only serving Brambleton, serving all of Northern Virginia.