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Cedar Lakes Homes Weekly Report 4/22/09-5/04/09

MyCedarLakesHome.com

Relevant Real Estate Information for the Cedar Lakes Condo & Townhome Community

INTRODUCTION

All of the TH in Cedar Lakes are Under Contract or have sold. These have been priced so well, they go very quickly. 3 homes have gone to closing in the last 2 weeks and we have the numbers updated below!

Read our observations about the real estate market at the bottom of the blog!

As of today (May 4, 2009 11 AM) there are 5 active homes in Cedar Lakes and 9 homes that are currently under contract and 3 homes that have sold in the last 30 days.

Here’s the breakdown of all active listings in MLS:

Condos- 6

Cedar Lakes A - 0
Christopher at Cedar Lakes - 5 (3 short sale, 2 regular sale)

Townhomes- 0

Carr at Cedar Lakes -0


NEW LISTINGS

According to MLS, there was 0 new listing this week.


UNDER CONTRACT

According to MLS, there are 5 townhomes and 4 condos under contract

Condos

4200 Mozart Brigade Ln #P (175 DOMP) 2bd/2ba
12471 Hayes Ct #301 - (274 DOMP) 2bd/2ba
4225 MOZART BRIGADE LN #93 - (10 DOMP) 2bd/2ba
4320 Cannon Ridge Ct #73 - (15 DOMP) 2bd/2ba

TH

4289 Wheeled Caisson Sq (37 DOMP) 3bd/3ba
12422 Cedar Lakes Dr (102 DOMP) 3bd/3ba
4378 Thomas Brigade Ln (17 DOMP) 3bd/3ba

I will have the final numbers for these once they close


SOLD

According to MLS, 6 home has sold in the last 30 days .

4331 Thomas Brigade Ln (0 DOMP) 3bd/3ba - Regular Sale

Asking Price - $417,000
Sales Price - $405,000
Seller Subsidy - 0

12429 Erica Hill Ln - (31 DOMP) 3bd/4ba - Regular Sale

Asking Price - $389,000
Sales Price - $400,000
Seller Subsidy - $11,000

12461 Hayes Ct #203 -(51 DOMP) 2bd/2ba - Short Sale

Asking Price - $290,700
Sales Price - $180,000
Seller Subsidy - $10,104

4307 Thomas Brigade Ln - (11 DOMP ) 3bd/ 3ba - Regular Sale

Asking Price - $409,900
Sales Price - $387,000
Seller Subsidy - $7,600

4399 Sutler Hill Sq - (5 DOMP) 3bd/3ba - Regular Sale

Asking Price - $325,000
Sales Price - $330,000
Seller Subsidy - $6,000

4310t Cannon Ridge Ct #92 -(24 DOMP) 3bd/2ba - Regular Sale

Asking Price -$339,000
Sales Price - $310,000
Seller Subsidy - 0

Sold More Than 30 days ago

-4316 Mallory Hill Ln - (4 DOMP) 2bd/3ba -Regular Sale
Asking Price - $310,000 / Sales Price - $317,000 / Seller Subsidy - 0

-4346 Sutler Hill Sq - (57 DOMP) 3bd/3ba - Bank Owned
Asking Price - $309,900 / Sales Price - $275,000 / Seller Subsidy - $8,000

-12491 Hayes Ct #301 - (10 DOMP) 2bd/2ba - Regular Sale
Asking Price - $264,888 / Sales Price - $264,888 / Seller Subsidy - $7,500

-4310S CANNON RIDGE CT #91 - (35 DOMP) Condo - 2bd/2ba (Regular Sale)
Asking Price - $320,000 / Sales Price - $280,000 /Seller Subsidy - $9,500

-4210 MOZART BRIGADE LN #O - (79 DOMP) Condo - 2bd/2ba (Bank Owned)
Asking Price - $265,000 / Sales Price - $252,000 / Seller Subsidy - 0

-12437 ERICA HILL LN - (90 DOMP) TH - 4bd/3ba (Short Sale)
Asking Price -$429,900 / Sales Price - $385,000 / Seller Subsidy -$5,000

-12406 Cedar Lakes Dr - (85 DOMP) TH 3bd/3ba
List Price - $439,900 / Sales Price - $409,900 / Seller Subsidy - $10,000

-12491 Hayes Ct #202 - (23 DOMP) Condo 2bd/2ba - Regular Sale
List Price -$279,500 / Close Price -$255,00 / Seller Subsidy - 0

-4338 THOMAS BRIGADE LN - 16 (DOMP) TH - 4bd/3ba - Regular Sale
List Price - $399,900 / Close Price - $390,000 / Seller Subsidy -$11,700

-4256 Wheeled Caisson Sq - (12 DOMP) TH 3bd/3ba - Bank Owned
List Price -$279,900 / Close Price -$279,000 / Seller Subsidy -$0

-4310R CANNON RIDGE CT #90 - (218 DOMP) Condo 2bd/2ba - Regular Sale
List Price - 375,000 / Sales Price - 345,000 / Seller Subisdy - 0


22033

These stats are for all real estate in the 22033 zip code for the Month of March 2009
2009 2008 % Change
Total Sold $ Volume $13,961,288 $14,878,678 -6.1%
Avg. Sold Price$367,402 $413,297 -11.1%
Median Sold Price $323,500 $381,900-15.9%
Total Units Sold 3836 52%
Avg. Days on Market7991 0%
Avg. List Price for Solds: $397,753 $441,841 -9.9%
Avg. Sale Price as a percentage of Avg. List Price: 92.37%93.54%



Fairfax Condos Sold for 2007 vs. 2008



Fairfax Townhomes Sold for 2007 vs 2008




EXPIRED or WITHDRAWN

There has been 1 listings that have been taken off the market in the last 30 days.


RENTALS -

There are currently 1 townhomes and 2 condos for rent

6 homes have been rented out in the past month.

If you need any help finding a rental or listing your condo for rent, please contact us.

We team up with a property managemeng group that only charges 8% of the rental price! You won't have to do anything.


OBSERVATIONS

Ok this is what we are hearing on the rumorville. There is obviously low inventory of homes on the market right now, causing multiple offers and craziness to buy homes in NOVA. Well.... We have heard that the banks are going to be getting a lot! a lot of foreclosures by the end of this month and in June. Wells Fargo alone will be putting 30,000 foreclosed homes on the market nationwide. So you can only imagine what all the banks together will do. This could get crazy !

We are also seeing a little bit of trouble with appraisals in some areas. People are outbidding on homes. This means the comps in the neighborhoods are not supporting the bids people are putting on these homes. The problem: You will not get the loan for that amount unless you are paying the difference. If you offer 300k and it appraises for 280k then you have to come up with an extra 20k This is happening in pockets of NOVA and not the case for every home.

If you are thinking about buying or selling within the next 3 months. Contact us


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