In December 2011, the biggest year-over-year drop in Northern Virginia listings occurred in Manassas City, and the market which did not post any new listing was Falls Church City.

In the entire Mid-Atlantic region, new listings also fell. A total of 7,397 new listings were added in December 2011, which was 24.22 percent lower than the 9,761 new listings added in November 2011. Total active listings also fell from 45,536 in November to 40,592 in December, representing a month-over-month drop of 10.9 percent.

Over the year, new listings fell by 20.85 percent, from 9,346 in December 2010. Total active listings dropped by 10.3 percent, from 50,301 in December 2010. The drop rates were both in double digits.

The December 2010 total for active listings was the lowest total in a 5-year-period compilation of listing data. It did not even reach one-half of the 5-year peak of 82,473, the total of active listings in September 2007.

Among markets in the Mid-Atlantic region, Fairfax County had the highest number of new listings in December 2011, and among the ten top markets in new listings, Fairfax was the only one which marked an increase. All the others dropped in new listings. Fairfax County added a total of 746 new listings in December 2011.

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Rise in Sales of Existing Homes in December

Across the country, pre-owned home sales rose in December 2011 by 5 percent from an adjusted rate of 4.39 million units in November to an adjusted rate of 4.61 million units. Over the year, the rate also increased, by 3.6 percent from 4.45 units in December 2010. This rate includes sales of all kinds of pre-owned housing units, including condos, single-family homes, townhouses, villas and co-ops.

The existing condo and co-op category also showed improvement. Sales of pre-owned condos and co-ops also increased over the month, jumping by 8.7 percent from an adjusted pace of 460,000 condo and co-op units in November to 500,000 co-op and condo units in December.

Rise in Sales of Existing Homes in 2011

As to sales of existing homes during the entire year, numbers were also on an upward trend. Total sales of pre-owned homes in 2011 were higher by 1.7 percent from the total in 2010, with 4.26 million units sold in 2011 and 4.19 million units sold in 2010.

Decrease in U.S. Housing Inventory in December

The inventory of existing homes nationwide which were listed for sale fell at the end of December to only 2.38 million units, its lowest point in nearly 7 years and creeping down close to the 2.3-million level in March 2005. The year-over-year fall was 9.2 percent and the month-over-month drop was 7.2 percent. The 2.38-million level is almost just one half of the biggest figure in July 2007 when 4.04 million pre-owned homes were available on the market.

A decreasing housing inventory can be interpreted as a sign of market improvement as a low inventory prompts competition among buyers and pushes home prices to go up. It also shows that buyers and investors have been out there on the market, moving homes from the MLS lists putting them under their ownership.

Take advantage of lower-cost home loans and lower-priced but beautiful homes available on the housing market. For Northern Virginia homes, contact the IN2VA Team.

Both in terms of total units sold and total dollars received, Fairfax County had the best sales performance among markets in Northern Virginia and in the entire Mid-Atlantic Region.

A total of 907 Fairfax County housing units were sold in December, representing 41.8 percent or close to one-half of total home sales in Northern Virginia. The dollar sales total was $413,963, representing 46.9 percent of the total dollar sales in the region.

The following table shows how the ten markets in Northern Virginia performed in December 2011.

The median sales price in Fairfax County was $347,950 and the average sales price was $406,357, also the highest sales prices in the ten-market region.

Here are the median and average sales prices in the region in December 2011:

In the entire Mid-Atlantic Region, the Fairfax County real estate market also had the best sales performance in December 2011. It surpassed the second- and third-ranking markets by at least 27.2 percent. Montgomery County sold 713 units while Prince George’s sold 701 units. Fellow Northern Virginia markets — Prince William, Loudoun, Arlington and Alexandria City – ranked sixth, ninth and 12th, respectively, in total sales in the Mid-Atlantic Region.

Northern Virginia markets also posted the highest median sales prices in December. Falls Church City posted the highest median sold price in the entire Mid-Atlantic Region, which was $529,450. Following were Arlington, with $475,000; Alexandria City, with $440,000; and Fairfax City, with $427,500. Washington, D.C. was fifth, with $414,000.

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Here are how ten of the higher-cost housing markets in the Greater Northern Virginia area performed in December, based on median sales prices:

Based on median sales price improvements in the Mid-Atlantic region, it was Talbot which had the biggest price surge in December, with an increase rate of 69.68 percent. These were the 5 areas which posted the highest month-over-month increases in median sales prices:

Here is how the Northern Virginia Real Estate Market performed in terms of median sales prices and year-over-year and month-over-month price increases in December 2011:

All in all, the total dollar values of homes sold in the Mid Atlantic region in December was $2.39 billion, marking an increase of 8.38 percent from November sales values but a decrease of 10.6 percent over December 2010 values.

A total of 7,464 housing units were sold, marking an increase of 9.2 percent from November sales and a drop from December 2010 sales. The region’s median sales price was $250,000 and the average sales price was $329,015, both marking drops in prices, although the drop rates did not go beyond 3.6 percent. Homes took a bit longer to sell, as the average days on market for the region increased over the year and over the month to 103 days.

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The Northern Virginia area encompasses the counties of Arlington and Fairfax, the cities of Alexandria, Fairfax and Falls Church, and the towns of Vienna, Clifton and Herndon.
Homes for sale were also getting sold faster, as the average days on market (DOM) dropped from 65 days to 62 days in November. Active listings also decreased by 13.75 percent from 4,553 housing units to 3,859, which also meant a decrease in supply from 4.01 months to 3.27 months.

Home prices also improved, as a result of the area’s diminishing housing inventory and the rising demand for Northern Virginia homes. The average sales price and median sales price in November were $470,270 and $402,500, respectively, marking increases from the October average of $469,454 and October median of $395,000.

The Greater Northern Virginia real estate market also showed great statistics in November. This market includes other counties such as Madison, Prince George’s, Warren, Morgan and Warren and cities such as Manassas Park and Baltimore. The median sales price in November increased by 4.02 percent month-over-month to $259,000 and the average sales price rose to $322,492. The total sales volume surged by nearly four percent to $2.204 billion.

Among the local markets comprising the Mid-Atlantic Region or the Greater Northern Virginia area, Madison County posted the biggest month-over-month median price increase in November, which was 126.25 percent. The biggest year-over-year increase occurred in Hardy, where the median price rose by 112.41 percent.

The areas that posted the biggest month-over-month sales price increases in November were the following:

Madison — 126.25 percent
Hardy — 120.31 percent
Morgan — 50.15 percent
Orange — 35.46 percent
Dorchester — 31.58 percent
Culpeper — 31.58 percent
Warren — 18.48 percent
Calvert — 17.04 percent
Alexandria City — 15.82 percent
Baltimore City — 13.25 percent

The local markets with the highest median sales prices in November were the following:

Alexandria City — $446,500
Arlington — $443,050
Falls Church — City $405,000
Washington — $395,000
Fairfax County — $390,000
Fairfax City — $383,150
Loudoun — $355,625
Montgomery — $350,000
Howard — $344,275

Indeed, these sales figures are indicators that the Northern Virginia real estate market is a strong market. If you want to explore real estate opportunities in this area, contact in2va.com.

As an owner-builder, you get to choose where you build. Many builders also develop their own land and they limit your dream home location to one of their existing projects. When you take on the general contractor role you can buy a lot in an established community or you can purchase that beautiful farm property in the woods. You may also want to buy your dream vacation home lot to build your future home near the beach.

Another advantage you have as a self builder is your ability to choose who does the work. Maybe you have friends with special skills in plumbing, wiring, or trim carpentry. Maybe you have some skills that you would want to apply to save extra money on the project. Most builders won’t allow you to choose the subcontractors because they have established relationships and they are afraid you will select less than competent people.

When you build your own home you have the opportunity to create your dream from the plans you choose. Most production builders become efficient by limiting the number of plans that they will build. However, when you take on the builder role, you may decide to purchase a set of plans from an established company online. There are thousands and thousands of great home designs out there that you can buy for a few hundred dollars. Or if you desire, you can choose to have an architect design your home to your specific needs. In fact, you may already have an overall layout in your head for your new home.

One more benefit of building your own home is the enormous sense of pride you get by creating something that will last a lifetime! How cool would it be to tell your grandchildren that you built the family home. And if you decide you like building homes, you may decide to take on a new profession.
There are many very good established builders out there. Just remember, if you decide to go with an established builder to build your dream home, you will give up some of your freedom to choose. By becoming an owner-builder, you get exactly what you want, at a great price.

Marble is basically a metamorphic rock that is found several hundred kilometers beneath the earth’s crust. It is actually formed when limestone or dolomite is pressed and compacted after so many years. It is this continual compacting that makes marble a very hard and strong stone.

Most people have seen white marble but did you know that it is also available in a wide variety of other colors? Marble’s various colors are attributed to the different mineral contents in the places where they are quarried. There are lighter colors of marble which includes yellow, pink, orange and beige. The darker colors of marble include black, brown, gray and red. Marble also usually has vein patterns throughout the stone. The stone would be lifeless without these veins.

Before you can use a marble countertop, you need to seal and laminate its countertop surface. This is necessary because the stone is porous and can trap water, dirt and grime. If this happens, the structure of the stone will be compromised. All countertop makes and installers know this and that is why it is part of their job to seal and laminate all countertops made of natural stone – and that includes marble countertops. It is advisable to re-seal and re-laminate your countertop at regular intervals if you want to extend its useful life.

Having a marble countertop in your home will certainly increase its value. It is very expensive, but it is really a good investment because marble is very strong and you can expect it to last very long. Using the countertop surface properly and taking good care of its surface finish will go a long way in maintaining its attractive appearance and will definitely fits perfect on your kitchen.

Kitchen Remodeling Doesn’t All Have To Be Done At Once

One of the benefits of remodeling your kitchen is that unlike many other rooms in your home, that kitchen remodeling doesn’t have to be done all at once. You can remodel that kitchen as your time and finances allow. For example, changing your faucets and light fixtures are both projects that are relatively inexpensive and can easily be accomplished in a day or a week-end off as can painting your kitchen walls and cabinets and changing that cabinet hardware.

Often There Are Less Expensive Ways Of Making Necessary Changes

When remodeling a kitchen there are often less expensive ways of getting the same results that you want. For example, if you want to change to a granite counter top you can get a counter top installed right over your old one rather than paying the expense of having your old counter top removed and disposed off. In other instances you can actually sand and paint an old counter top saving you from having to replace the counter top at all.

Remodeling Your Kitchen Can Make It More Functional

Chances are if you purchased a home that was already built you are living with another person’s idea of what makes a kitchen functional. What may have been functional for them may be less so for you. Remodeling gives you the opportunity to make your kitchen functional for you.
Remodeling Your Kitchen Can Increase the Value Of Your Home
Remodeling your kitchen can not only add to your own enjoyment but, often increases the value of your home should you decide to sell it. Attractive and functional kitchens will often make a home seem more friendly and inviting and encourage buyers to pay the asking price. You don’t need a gourmet kitchen all you really need is a kitchen that looks smart, is user-friendly and inviting. If remodeling your kitchen accomplishes that then it may add to the price of your home considerably.

A Beautiful Kitchen Makes the Time Spent In It More Enjoyable

The biggest advantage of remodeling your kitchen is simply the fact that having a kitchen that is beautiful and appealing to you makes the time you have to spend there preparing meals and cleaning up more enjoyable. No one wants to spend time in a dark, boring kitchen that is barely functional but, many people actually find themselves enjoying cooking if they can spend time in a bright cheery kitchen that meets all their cooking needs.

Why remodel or renovate?

A home owner can have various reasons to remodel or renovate. The most common reasons are represented by the overall look of the house due to its age or a safety matter caused by natural phenomena like heavy rain, snow or even natural disasters. Whatever the reason the house need modifications, it is always the wisest to consult with a specialized professional before starting any work. There is preparation work that needs to be done, as well as permits to be acquired. A contractor will save you time and will do all these things in your place.

The knowledge and experience is what a good contractor can give you

A good general contractor deserves the amount of money you pay him, probably even more. Construction is a custom product, involving a unique mixture of craftsmanship, knowledge and project management. They have many years experience in knowing what to look for on a construction project. A general contractor will have all the necessary permits, will build according to your plan specifications and will schedule inspections with officials. A local general contractor knows the best ways to comply with all the rules and regulations from the area in order to get your job done. The majority of projects require the participation of a lot of people, including sub-contractors and specialists. Although each worker will have a certain task, you need someone with expertise to control and manage the building process from start to finish. An experienced general contractor will have sufficient knowledge and local connections to find specialized workers and make sure they do their best in completing your project in time and according to you demands.

Before replacing the roofing you need to talk to a roofing contractor. The contractor will be able to tell you about the different types of roofing materials available to you. Some of the options to choose from are: asphalt shingles, wood shingles, clay, slate, or metal. Your roofing contractor can give you the pros and cons of each type and make good choices.

Another consideration in choosing your roofing is the aesthetics. You will want to pick the color your new roof carefully. You roof is one of the first things a visitor to you home will notice. You also want to make sure that your roof color will blend with your home’s exterior color and trim. You should not only consider the style of your home but also the styles in your neighborhood. You want to attempt to match all the styles. When considering the cost of your new roof you do not want to look at the long term investment as well as the initial investment.

Will it be better to put more money into your roofing if the roof will not have to be replaced as quickly? Ask your roofing contractor what the lifetime of your roof should be and divide your cost by the number of projected years. How much will that roof cost per year? Maybe the lower initial invest is not such a bad deal. Take advantage of the technology that is available. An internet search of not only roofing contractors but roofing materials will give you several information you will need in getting that new roof on your house. Call some of the roofing contractors in your area. One may have the new virtual roofing simulator. With a computer a contractor can show you what a particular roof will look like on your home. This could narrow your choices for you and possible save you from having a roof you are not a happy with.