May 2010 
There are 77 blog entries for May 2010.
Weekly Housing Statistics from Fairfax Homes 5/24-5/28
Monday, May 31st, 2010 at 7:31pm. 51 Views, 0 Comments.
24 – Resales of homes rose 7.6% during April as Buyers rushed to complete sales before the expiration of a tax credit. However, the inventory of unsold homes surged to an 8.4-month supply [nationally not locally] – an unwelcome development. The Median price was up 4% in the past year [much higher locally]. Sales of distressed homes were down in April accounting for 33% of sales v. 45% a year earlier.
26 – New-home sales rose 14.8% in April to their highest level since May 2008. New-homes sales are up 47.8% compared with a year ago. The inventory of unsold homes lowered to 5.0-months from 6.2-months in March.
26 – Orders for durable goods rose 2.9% in April on stronger demand for airplanes and communications equipment.
28 – Personal income outpaced…
Fairfax Homes Events Calendar for Memorial Day Weekend
Sunday, May 30th, 2010 at 9:22am. 44 Views, 0 Comments.
FridayFriday, May 28, 10:00 a.m.
Blue Angels Air Show
http://activerain.comHead to the U.S. Naval Academy for the annual Navy air show performed over the Severn River in honor of this year's graduates. Viewing areas for the show include Ingram Field, portions of Farragut Field and Hospital Point on the Naval Academy Grounds.
Location: U.S. Naval Academy, 121 Blake Rd. Annapolis, MD
Information: www.blueangels.navy.mil
Cost: Free Friday, May 28 - Friday, Sept. 10, 5:00 - 8:30 p.m.
Jazz in the Garden
www.nga.govKick off this summer series at the National Gallery of Art's Sculpture Garden with the first free Friday concert of the season featuring jazz vocalist Leslie Summey, reminiscent of Billie Holiday.
Location: National Gallery of Art, Sculpture Garden and Ice…
Fairfax Homes Weekly Housing Info 5/19-5/21
Monday, May 24th, 2010 at 10:27am. 40 Views, 0 Comments.
19 – Consumer prices fell 0.1% in April as energy, housing, auto and apparel prices declined. The CPI was up 2.2% in the past year. The core CPI [excluding energy and food] was unchanged in the past year.
19 – The percentage of loans in foreclosure or with at least one payment past due was 14% in the first quarter of 2010, down slightly from the fourth quarter of 15%.
19 – Housing starts increased for the second straight month in April to an 18-month high, but building permits fell sharply, casting doubts on the momentum of the housing recovery. Permits for single-family homes fell 10.7%.
21 - Oil closed the week at $68.01 down from $71.61 last Friday.
Rates continued their downward trend slightly as the Greek debt crisis continues to move investors to…
Fairfax homes Weekend Calendar of Events recommendations
Wednesday, May 19th, 2010 at 6:06pm. 51 Views, 0 Comments.
ThursdayThursday, May 20 - Sunday, September 12, 10:00 a.m. - 5:30 p.m.
Yves Klein: With the Void, Full Powers
www.washingtonpost.comDon't miss the first major retrospective of this French artist's blend of modern and contemporary art including monochrome paintings and photographs of his experimental performance art.
Location: Hirshhorn Museum & Sculpture Garden - Smithsonian Institution, Independence Avenue and Seventh Avenue, SW, Washington, DC
Information: (202) 633-1000; http://hirshhorn.si.edu
Cost: Free
Thursday, May 20, 5:00 - 8:00 p.m.
Take Five!
http://americanart.si.edu
Head to the American Art Museum's Kogod Courtyard for an evening of big band, swing, doo-wop, pop originals and classics from Ellington, Gershwin and Sinatra performed by the Uptown…
Prices Fall in the Wake of the Tax Credit
Monday, May 17th, 2010 at 1:05pm. 40 Views, 0 Comments.
Now that the homebuyer tax credit has passed into history, many are starting to wonder whether many buyers were tacking the value of the credit onto their sales price. Prices now are falling in many markets and had buyers waited until the credit expired, they could have bought the same house without Uncle Sam’s help.
The National Association of Realtors reported last week that in the first quarter, 91 out of 152 metropolitan statistical areas reported median prices for existing single-family houses were higher than they were a year ago. Some 29 MSAs experienced double-digit increases. NAR chief economist Lawrence Yun credited the homebuyer tax credit for boosting sales in the opening months of the year.
Sales activity is down in many markets, like Albany,…
Fairfax homes Weekend Calendar of Events recommendations
Wednesday, May 12th, 2010 at 4:05pm. 35 Views, 0 Comments.
Friday, May 14 - Sunday, May 16, 6:00 - 9:00 p.m.
Mount Vernon Spring Wine Festival & Sunset Tour
www.mountvernon.org
Sample wine from Virginia wineries, listen to live jazz music, take a candlelit tour of the cellar and enjoy the spectacular view of the Potomac River at this festival.
Location: Mount Vernon, 3200 Mount Vernon Memorial Highway, Mount Vernon, VA
Information: (703) 780-2000; www.mountvernon.org
Cost: $30
Joint Services Open House and Air Show
www.jsoh.org
Location: Andrews Air Force Base, Route 5 and Allentown Rd. Camp…
The HomeBuyer Tax Credit- Did it Work?
Wednesday, May 12th, 2010 at 3:21pm. 41 Views, 0 Comments.
The Facts:
1) First-time home buyers propelled the housing recovery in March, specifically in Fairfax, Arlington, Vienna and Reston, according to the latest Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions.
The survey indicated that 48.2 percent of March's sales were to first-time homebuyers. These consumers jumped in because of increased purchasing power, low mortgage rates and lots of inventory caused by the foreclosure and short sale activity. The latest survey found that short sales accounted for about 20% of sales activity.
2) Real Estate professionals like me will tell you that all the radio ads and brokerage ads created momentum to "think" about homeownership. Even if a family did not buy and utilize the tax…
April Stats are in for Fairfax homes
Tuesday, May 11th, 2010 at 8:51am. 38 Views, 0 Comments.
2010
2009 % Change Total Sold Dollar Volume: $ 25,794,672 $ 20,222,301 27.56 % Average Sold Price: $ 477,679 $ 367,678 29.92 % Median Sold Price: $ 443,500 $ 345,000 28.55 % Total Units Sold: 54 55 - 1.82 % Average Days on Market: 42 91 - 53.85 % Average List Price for Solds: $ 497,595 $ 404,604 22.98 % Avg Sale Price as apercentage of Avg List Price: 96.00 % 90.87 %
I've chosen these state for the Fairfax zip code of 22030 as a example of the greater Fairfax statistics for the month of April year over year. Looks good, doesn't it?! Now remember, this means NOTHING regarding what we can expect for the future, for there are too many unknowns regarding where the economy and housing market are headed, but living in the counties of Fairfax and…
Fairfax Homes Weekly Housing Info 5/3-5/7
Monday, May 10th, 2010 at 6:48am. 38 Views, 0 Comments.
3 – Boosted by spending on autos and other related durable goods, consumer spending increased 0.5% to a record high in March, at least surpassing the pre-recession peak set in November 2007.
4 – Supported by the tax credit, the pending home sales index rose to a seasonally adjusted 5.3% in March and was up 21.1% compared with a year earlier. The largest increase was seen in the South [includes the Washington DC area].
7 – The economy added 290,000 jobs in April, which was much better than expected despite temporary hiring for the 2010 Census. Although, the unemployment rate hit a new high of 9.9%, up from 9.7% resulting from more people saying they were looking for work now. Average hourly earning were up 1 cent to $22.47.
7 - Oil closed the week at…
Government Urges Short Sales that affect Fairfax; Experts Aren’t Sure They’ll Help
Saturday, May 8th, 2010 at 8:59am. 42 Views, 0 Comments.
With the highly touted federal mortgage-modification program falling short of its target numbers, the government has looked into alternatives to foreclosure and come up with a possible, though not original, solution: the short sale, a transaction in which the lender accepts less than the balance owed on the mortgage.
Beginning April 5, 2010, under new Treasury Department rules, short sales will be presented as the potential next step for homeowners who are rejected by or fail to make the grade for the federal Home Affordable Modification Program (HAMP).
RealtyTrac chief economist Rick Sharga suggested that offering the short sale program is the administration’s acknowledgment that its current mortgage-modification effort “can’t solve the foreclosure problem…