Archives for April 2013

Free Home Buying Seminar in Leesburg, VA

Free Home Buying Seminar in Loudoun County.

Have you considered buying a home but just thought you didn’t make enough money?  Do you think you need a large downpayment to own a home?  Are you considering making a move but just don’t know where you want to go?  If so, you should attend Loudoun County Living’s home buying seminar on May 9th to find out how you could own a home of your own within just a few months.

Loudoun County offers 3 unique home buying programs.

  1. The Public Employee Homeownership Grant Program (PEG) offers grants (as part of a secured loan) to help cover down payments for full or part-time county employees, teaches, law enforcement and firefighters. Loans are forgivable at 20% of the loan amount annually over a five-year period providing the employee does not leave employment, sell the home, or no longer occupies the residence.   Grant amounts include $5,000 for the purchase of a home located within Loudoun County; $15,000 for the purchase of a foreclosed property (no short sales); or $25,000 for the purchase of a property in Loudoun County’s Neighborhood Stabilization Program (NSP).
  2. The Affordable Dwelling Unit (ADU) Program helps households whose income falls below the county’s medium income levels, to buy a new construction home or resale properties – prices typically range from approximately $120,000 to $180,000 for condos or townhomes in the program.
  3. The Down Payment Closing Cost Assistance Program helps both PEG program participants and ADU buyers pay for their closing costs and down payment on a home.  First-time homebuyers purchasing a home either through the Affordable Dwelling Unit program or purchasing an existing market rate home can borrow up to 10% of the sales price or $25,000, whichever is less, at 5% interest. This loan is in the form of a second trust, payable over a 30 year period with the first three years of payments deferred and interest free.

If you think you fall into one of these categories, or if you’re just investigating your home-buying options, attend this free seminar:

Loudoun County Living’s 

Home Buying Seminar 

Tuesday, May 9th from 5:00-7:00pm 

at the Tuscarora Mill Wine Cellar in downtown Leesburg.

At this event, you will learn more about each of these programs, speak directly to an experienced Realtor who can help you in your home search, talk to a mortgage lender to see how much you might qualify for and find out how you can buy a home or townhome in Asburn, Leesburg, Sterling or Chantilly.

Space is limited, so please RSVP by May 1st to Theresa Pomata at admin@loudoun-county-living.com or call 703-407-5159.

Click here to search current homes on the market in Loudoun County.

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Average Price of a Home in Loudoun County

Average Price of a Home in Loudoun County

The average price of a home in Loudoun County jumped 14% year over year for the month of March. This is following the month of February 2013 where we saw the average price of a home in Loudoun County rise 10% when compared to February 2012. The average price of a home for March 2013 is $445,134 with is up from February 2013’s average home price of $433,927. This trend should continue and is expected to continue as inventory levels are currently lagging behind demand from buyers.  We have seen the numbers for New Listings and New Pending Sales increase month to month, however these numbers continue to be down significantly when compared to last year at this time. The numbers of closed sales have increased when compared to yearly and monthly numbers.Average Price of a Home

Loudoun County Homes for Sale

Current Inventory Pushes the Price of a Home Up

Current inventory levels in Loudoun County are down over 11% when compared to March 2012. This is certainly having an effect on the average price of a home in Loudoun County as supply and demand is the most important factor effecting home sales. The downward trend for inventory has continued for some time now. With the approach of the spring market inventory levels should increase seasonally as expected however levels are still significantly off the mark from where inventory was a year ago.  There is currently approximately 2.5 months of supply currently listed for sale. Given that 6 months supply is considered a balanced market and anything less is a buyer’s market you have to conclude that the upward trend for the average price of a home in Loudoun County will continue. Many in the industry are beginning to wonder if we are set up for another run up in prices and a potential bubble. There is significant competition in the market with agents and buyers reporting many multiple offer situations and the return of escalation clauses. As would be expected the Average Days on Market has decreased about 12% to 56 days compared to 64 days in March of 2012.Relocating to Loudoun County Moving Truck

Spring Market Heats Up

As the spring market continues to heat up the average price of a home in Loudoun County should continue to improve. This trend should encourage homeowners who have been reluctant to test the market and list their homes. The current inventory levels are still low and sellers should expect to see prices continue to improve however it may still be some time for some homeowners in Loudoun County to recover lost value, there we areas that saw 30%-40% declines in their home value for the height of the market in 2005-06. For more information on homes for sale in Loudoun County or your neighborhood visit www.loudouncountylivingllc.com/sell

Belmont Country Club Townhomes for Sale

images-1Townhomes in Belmont Country Club

I remember playing in a Loudoun County Golf Tournament about ten years ago.  As I road through the course, I enjoyed seeing the beautiful single family homes along the perimeter of the course with beautiful decks, houses and landscaping.

Now, ten years later, Belmont Country Club is a popular neighborhood for both golfers and non-golfers alike.  Homes in Belmont Country Club include luxury single family homes, townhomes and even condos spread throughout the neighborhood.

The Belmont Country Club community stretches alongside Rt. 7 and Belmont Ridge Road in Ashburn, VA.  The neighborhood is full of amenities including pools, W&OD Trail, 18-hole championship Arnold Palmer Signature Golf Course, recreation center and much more.

There are several different style townhomes in Belmont Country Club.  Garage townhomes in Belmont are priced from the $400s.  For a full list of active townhomes for sale in Belmont Country Club, click here.

Schools in Belmont Country Club Neighborhood

Loudoun County Public Schools are some of the best in the state of Virginia.  Recent re-districting in Ashburn may affect the specific school your child may attend but there is no doubt that all of the schools will be a good choice for your children.  In addition, there area a variety of private schools available in Loudoun County.  For descriptions and statistics about schools in Ashburn, click here.

Why Live in Belmont Country Club?

Just ask a resident from Belmont.  Residents love the security of the gated community as well as the amenities and friendly neighbors.  The neighborhood is highly sought-after and homes don’t stay on the market long.

If you currently own a home in Belmont Country Club and are considering putting it on the market, contact me today to find a buyer who will love it as much as you do.

Loudoun County Living LLC is one of the top teams at Keller Williams in Leesburg and has averages over 60 home sale every year.  For a free home value estimate or if you are looking to buy a home in Virginia, call 703-831-7653 or visit www.loudouncountylivingllc.com 

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