If you are interested in selling or buying in the community please call us at 703-297-4251 or email sarah@rtrsells.com. If you would like a free market analysis we would be happy to send you one, there is absolutely NO obligation. We can also set buyers up to receive listings automatically so you will be the FIRST to know when something comes on the market in the community. 

Keep checking back each week for more insight to what is going on at Stone Ridge!

Disclaimer: Information was gathered from the MLS and is deemed reliable but not guaranteed.

• A total of 1,803 homes sold in May 2009, a 4.6% increase above May 2008 home sales of 1,724.
• Active listings decreased by 25.17% from last year, with 8,050 active listings in May, compared with 10,757 homes available in May 2008.
• The average days on market for homes in May 2009 decreased by 14 percent to 76 days, compared with 88 days in May 2008.
• Sales prices continue to remain lower than last year.  The average sales price in May fell by 9.5% from May 2008, to $433,257, compared to last years average $478,672.
• The median price of home sold in May was $375,000, which is a decline of 7.41 percent compared with May 2008’s median price of $405,000.
• The number of pending home sales in Northern Virginia in May shows an increase of 22 percent at 2,637 compared to 2,166 in May 2008.

The recent changes in the government stimulus package have sweetened the deal for first time home buyers.  The tax credit has gone from $7,500 to $8,000 and the new rules are that you don't have to pay it back as long as you own the home for three years.  There are some rules on incomethat you should pay attention to. You cannot make over $75,000 to get the full $8,000 and then it phases out totally if you make more than $95,000.  That's $150,000 and $170,000 on a joint return respectively.  A first time home buyer is someone defined as not owning a principal residence in the 3 years prior to the the purchase.  If someone is married and their spouse has owned a principal residence in the previous 3 years this would disqualify the spouse who was not an owner, or not on title.  If you get financing through a state or local bond funding you will not be eligible for the credit.  If you purchase your home after January 1, 2009 and before December 1, 2009 you will not be required to pay any of the credit back providing you keep the home more than 3 years. Note it is the lesser of 10% of the cost of the home or $8,000.

Watch that terminiation date - you have to purchase BEFORE 12/1/09. In real estate timing can be tricky so if you are considering a purchase before December 1, don't wait until the last minute.  You would hate to have a delay and totally miss out because the closing did not occur on time.  If you purchased as a first time home buyer in 2008 check with your tax accountant on the rules for the $7,500 credit for those who bought between April 9, 2008 and before January 1, 2009.  

Reynolds Team would be honored to help you find a home and walk you through the process - feel free to call us for a no obligation home buying consultation, and if you are a first time home buyer don't forget to tell us as we have a special book for you when you sign up to work with us. 

Happy house hunting and check back often for more helpful information.

Debbie Reynolds 703-855-7827

P.S.  Always check with your tax accountant when making decisions that might impact your tax position, Debbie Reynolds is neither a tax accountant or an attorney and you should seek the advise of those professionals to understand fully your tax position.

It seems like every time you turn on the news these days it is negative. We agree that there are a lot of things going on these days that are negative, but there are also a lot of good things going on. The demand for home ownership in this area is increasing. Interest rates being the lowest they have been since the 1950’s is of course helping. As we sit at open houses and speak to many different purchasers we are seeing a huge increase in two types of purchasers: first time home buyers, and relocaters. Because of the decrease in home prices many teachers, single income families, and professionals can now afford to buy a home! Have you heard recently that the job market is bad?! It seems that our Northern Virginia area is getting a lot of relocaters because of the current job market through out the country. This is all good news for all us, whether we own a luxury home or we are an investor because when the first time home buyers come out it trickles up to the second timers, and the third timers!

Are we selling houses? Yes! It is a price war and a beauty contest! Homes that are priced competitively and are in good condition are selling. We are even seeing multiple offers on some homes. Many sellers are wanting to move to a bigger home in the same area and this is the best time! We are getting their home sold and then getting them GREAT deals on the home they purchase. We are also seeing an increase in home owners keeping their current home as an investment property and purchasing a bigger home. If you have any questons don’t hesitate to come in or call!!