All Blog Entries by Super Admin 
There are currently 71 blog entries published by Super Admin.
Weekly Housing Statistics from Fairfax Homes 7/20-7/23
Monday, July 26th, 2010 at 10:21am. 4 Views, 0 Comments.
20 – Housing starts fell 5% in June to an annual rate of 549,000 units, which is the lowest in eight months. The drop was worst than expected. Building permits for single-family housing fell 3.4% to an annual rate of 421,000, the lowest level since April 2009. The is consistent for Fairfax homes and Arlington, VA homes for sale
21 – Fed Chairman Bernanke told Congress that the Federal Reserve stands ready to take further actions if the economy slows significantly, or falls back into recession. He said the outlook is “unusually uncertain”, adding he expects moderated growth and low inflation. He added that lost jobs would take some time to be regained.
22 – Resales of existing homes fell 5.1% in June after the federal subsidy for home buyers ended. …
Weekly Housing Statistics from Fairfax Homes 7/13-7/16
Monday, July 19th, 2010 at 9:39am. 7 Views, 0 Comments.
Jul 13 – The trade deficit widened by 4.8% in May and was unexpected by economists who thought the deficit would narrow.
16 – Consumer prices fell 0.1% in June, reflecting the third straight month of decline. Lower gasoline prices mostly accounted for the decline. The core rate, excluding food and energy, rose 0.2%, but still remained very low. Over the past 12 months the CPI has increased 1.1%.
14 – Retail sales fell 0.5% in June, further evidence that the economy has slowed. Sales fell for the second straight month after seven consecutive increases.
16 – Consumer sentiment plummeted in early July, hitting the lowest level since August. This according to the widely followed Reuters / University of Michigan survey. The stock market tanked on the news. …
Weekly Housing Statistics from Fairfax Homes 6/29-7/9
Friday, July 16th, 2010 at 8:40am. 7 Views, 0 Comments.
Jun 29 – Home prices rose 3.8% in the past year in 20 major cities, according to the Case-Shiller home price index. April’s increase was the first after six straight monthly declines. This is consistent for Fairfax homes as well.
29 – Consumer confidence plummeted in June on increasing worries about jobs and the economy.
1 – As expected, new sales contracts on existing home fell sharply in May after the federal tax credit expired at the end of April. The pending home index plunged 30% after rising 23% between January and April. This index is an indicator of sales of existing homes, which are recorded at time of the closing.
2 – Private payrolls expanded in June by 83,000 v. forecast of 115,000. The unemployment rate fell to 9.5%, the lowest since July…
Does My Real Estate Agent Have Their Own Website
Thursday, July 1st, 2010 at 1:02pm. 21 Views, 0 Comments.
Perhaps a bit of an odd question. But is it important that my agent have their own website? Not only is the answer yes, but it’s imperative to where they should have a website that can help sell your home. First of all, we’re not on the dawn of the internet age, we’re knee deep in it and it’s become a part of our lives. With each year that passes, the percentage of home buyers and sellers that begin their research on the web increases, and we’re not talking about fifty percent, we’re talking about eighty to ninety-five percent, depending on the age group. With regard to Fairfax homes, we have an enormous amount of people relocating to Northern Virginia every month, because of the size of the federal government, the enormous technology center, it’s…
Weekly Housing Statistics from Fairfax Homes 6/15-6/18
Monday, June 21st, 2010 at 12:05pm. 21 Views, 0 Comments.
15 – Sentiment among home builders retreated in June after the tax break for home buyers expired. Builders were more discouraged in all four regions of the country. Builders all across the area, including Fairfax, Reston, Vienna, Great Falls, McLean, Middleburg, Chantilly, Centreville, Bristow, Haymarket and Gainesville agreed with this negative outlook.
16 – As expected, home builders sharply reduced construction as the tax break expired. Housing starts fell 10%, the lowest annualized rate since December, with single-family homes dropping 17% to the lowest in a year.
17 – Slower growth is expected for the rest of the year according to government economists. The index of leading economic indicators rose 0.4% in May, but was below the expected gain of…
May Stats are in for Fairfax Homes
Wednesday, June 16th, 2010 at 12:56pm. 27 Views, 0 Comments.
2010 2009 % Change Total Sold Dollar Volume: $ 640,265,153$ 559,661,003 14.40 % Average Sold Price:$ 448,994$ 420,482 6.78 % Median Sold Price: $ 390,000$ 360,000 8.33 % Total Units Sold: 1,4261,331 7.14 % Average Days on Market:3877 - 50.65 % Average List Price for Solds:$ 467,357$ 455,928 2.51 % Avg Sale Price as a percentage of Avg List Price:96.07 % 92.23 %
These statistics are for Fairfax County specifically. Good news all around, particularly in response to the tax credits offered to new and repeat home buyers. With those gone, the jury is out on what the market does going through the end of 2010. I for one am not optimistic, and trust me, I want to be wrong as this is my living. Fairfax home and Arlington, VA homes for sale, houses on the…
Weekly Housing Statistics from Fairfax Homes 6/9-6/11
Tuesday, June 15th, 2010 at 10:56am. 30 Views, 0 Comments.
9 – According to the Mortgage Bankers Assn. purchase and refinance applications dropped this week, even after an adjustment for the Memorial Day holiday. Purchase applications are now 35 percent below their level of four weeks ago, as homebuyers have not yet returned to the market following the expiration of the homebuyer tax credit at the end of April.
10 – Freddie Mac reported that this week rates hovered near their record low set in early December 2009.
11 – The University of Michigan’s index of consumer sentiment rose in June, bettering some analyst’s expectations.
11 – Retail sales declined for the first time in eight months in May, tumbling a surprising 1.2%. Declines were seen across all sectors.
11 - Oil closed the week at $73.78 up from $71.51…
June 19 Housing Event in Fairfax
Tuesday, June 8th, 2010 at 8:52am. 33 Views, 0 Comments.
MRIS is a sponsor of the Housing Fair and Cash Counts Expo to be held in Fairfax, VA. Topics covered at this day-long conference include:
- Mortgage review with a housing counselor
- Overview of HAMP and HAFA programs
- Info on VA Counties Down Payment Assistance Programs
- And a special presentation, “Effective Use of Social Media Tools for Success” by MRIS’ own Director of Marketing, Marie Still.
This free event is open to the public but requires pre-registration. View this flyer for more information and registration forms.
Weekly Housing Statistics from Fairfax Homes 6/1-6/4
Sunday, June 6th, 2010 at 8:29pm. 28 Views, 0 Comments.
2 – Pending home sales have risen for three consecutive months, reflecting the impact of the homebuyer tax credit and favorable housing conditions, according to the National Association of Realtors. Fairfax homes responded in kind with these statistics.
3 – Orders for U.S. made factory goods increase 1.2% in April, led by airplane orders and parts.
3 – The service industry grew for the fifth straight month in May.
3 – The economy added 431,000 new jobs, however 411,000 were temporary Census jobs. This was a very disappointing report for the economy. Unemployment went to 9.7% from 9.9%.
3 - Oil closed the week at $71.51 up from $73.97 last Friday.
Rates rose slightly this week, although based on Friday’s Job’s Report rates could stay at these low levels…
Weekly Housing Statistics from Fairfax Homes 5/24-5/28
Monday, May 31st, 2010 at 7:31pm. 36 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…