From the number of active homes on the market to the number of homes sold so far this year, the JS Realty Team will keep you updated on the Ashburn Real Estate market.
As of April 5, 2015 there are currently 473 homes on the market in Ashburn Virginia. Ranging from a 2 bedroom, 1 bath condo listed for $182,900 to a gorgeous home sitting on over 11 acres that boasts over 8,000 finished square feet of living space for $2,499,990. The median list price is $515,000 – which is slightly above the median list price for Loudoun County ($500,000).
This chart shows the median sales price vs. sales volume. Home prices typically follow sales volume with, of course, a little lag time. (Click image to enlarge)
So far in 2015, Ashburn Virginia has 
seen a pretty steady pace of sales with 280 homes sold. Inventory typically increases this time of year and we are looking forward to a busy spring market. All the signs are there – low interest rates, slowly rising home prices, as well as buyers and sellers looking to make a move.
If you are looking to buy or sell a home this year Scott Koval and Sarah King Taylor of the JS Realty Team would be glad to meet with you to discuss your options. In our initial consultation, we focus on finding out exactly what our clients are looking to accomplish and then we will map out a plan of action to help them achieve their goals.
Contact us today – we are here to help you!
The JS Realty Team – not only serving Brambleton, serving all of Northern Virginia.
A pre-approval is a commitment by a lender to make a mortgage loan to a specified borrower, prior to the identification of a specific property. The pre-approval process starts with an interview and completion of a loan application, and ends with the lender issuing a pre-approval letter demonstrating that the applicant is a suitable buyer. The lender will typically require at minimum 2 years of W2 statements, 2 years of federal tax returns, 2 month’s of asset account statements, and a satisfactory credit report.
At this step the lender issues a written agreement guaranteeing the borrower a specified interest rate, provided the loan closes within a set period of time. To lock a rate the applicant must have a ratified contract and an established settlement date.
This is when the lender offers the official Good Faith Estimate, Truth in Lending Form and loan disclosures. These documents need to be presented to the applicant within 3 days of lock and will need to be signed and returned to the lender. It is also common for the lender to request additional supporting documentation at this point.
An appraisal is a written analysis of the estimated value of a property prepared by a qualified appraiser. This process is performed to make sure that the property is of fair market value and supports the agreed upon purchase price.
During the processing step the Loan Officer and his/her staff will gather and analyze all of the information to ensure that the applicant’s loan will meet the specific program guidelines. The Underwriter will then complete the final review of documents to verify that all appropriate disclosures and documentation is completed to support the issuance of final loan approval. It is common for the Underwriter to request additional explanations or documentation during this process.
The closing is a meeting in which the sale of a property is finalized with the buyer signing the mortgage documents and paying closing costs. Also called “settlement.” This is where the applicant receives their keys to their brand new home!
Appraisers generally use 3 standard approaches to determine the market value of a property: The Cost Approach, The Comparison Approach, and The Income Approach. Combining these 3 approaches enables the appraiser to give their professional opinion on the market of the home.
inspection. At the same time as the home inspection, we will schedule any other inspections we deem necessary. We will meet our buyer and Inspector at the home for the inspection. After a thorough inspection, the Inspector will provide us with a full report of the good features as well as areas of concern about the home. We will review this report with our buyer and decide which items we will ask the seller to fix. If there are major concerns that make the buyer too uneasy about the home then we will void the contract and search for other homes. If the buyer and seller agree to the home inspection terms, then we will move on to the next step. As long as we are comfortable with the inspections, we will proceed.
read the disclosure packet and by Virginia law if they are not content with the rules and finances of the community, the buyer can void the contract.