Leesburg Home for Sale 304 Lester Court

Leesburg Home for Sale

Beautiful Leesburg Home for Sale

304 Lester Court Leesburg VA 20176

Loudon County Living has listed this fantastic Leesburg home for sale located at 304 Lester Court Leesburg VA 20176. The home is located in the Exeter neighborhood and is a beautifully maintained split level home that had a two story addition added. The property is four bedrooms and three full baths and has been wonderfully maintained. With approximately 2400 square feet of finished living space the home features ceramic tile on all baths, a jetted tub in the master bathroom and a very private deck in the rear that overlooks open space.

 Find More Leesburg Homes for Sale Right Here

The home is located very close to Leesburg shopping and schools. In fact, the local elementary school is within walking distance, the Leesburg Premium Outlets are just a few miles down the street and Ida Lee Recreation Center is just a couple of miles away. Leesburg Virginia is located in central Loudoun County and is also the county government seat. If you are looking for home for sale in Leesburg you will find a wonderful community with a classic old town feel combined with all of the modern conveniences. Leesburg has a wonderful culturally rich historic district that offers award winning dining and shopping in many boutique style shops. Loudoun County and the Leesburg area is also considered Virginia Wine Country and is home to many local wineries and vineyards. In addition to all of the old time charm and modern conveniences Loudoun County also has one of the very best school systems on the United States, for more information follow the link below.

Leesburg School Information

If you are interested in see other Leesburg homes for sale or would like more information on this home please visit us at www.loudouncountylivingllc.com.

 

 

Brambleton Homes for Sale/October Report

Brambleton Homes for Sale October Report

The Month of October saw sales of single family home and townhomes remain fairly flat when compared to the month of September. Brambleton homes sales for September saw a total of 7 re sale unit’s compared to October’s number of 9 re sale homes. These number do not reflect any of the new construction homes that were listed or sold in the month. The Ashburn area in general saw activity slow during the month as inventory levels remain low. Ashburn Market Statistics.

Single Family Brambleton Homes for Sale

Current Listings Remain Flat, Sellers’ Market ContinuesBrambleton Homes for Sale

There are currently a total of 6 listings for re sale homes active of those they are split evenly between townhomes and single family homes. The month of September saw 12 new listing for sale come on the market, 4 single family homes and 8 townhomes compared to October which saw 6 new listings, 1 townhome for sale and 5 single family homes for sale. These inventory levels continue to create a sellers’ market in the Brambleton area which is currently seeing an average days on market of under 45 days for both townhomes and single-family homes.

Brambleton Town Homes for Sale

Brambleton is one of the best new communities in Loudoun County

Brambleton is one of the newer communities located in the Ashburn area of Loudoun County. The community is a mixed use development that offers many options and price points for homeowners. The community is centered round the Brambleton Town Center which offers resident nearby shopping and entertainment options. The center offers a Harris Teeter, Regal Cinema, A Sport and Health Club and many other dining and shopping options. Northern Virginia Regional Parks also operates a beautiful golf course at the Brambleton Regional Park.Brambleton Homes for Sale

New Construction for Sale in Brambleton

Many Brambleton homes for sale are located in new developments of townhomes and single family homes that are offered by some of the best home builders in Loudoun County. Miller and Smith, Winchester Homes, Beazer Homes and Van Meter Homes and all offers new single family homes for sale. Pulte, Winchester Homes and Miller and Smith are currently offering new town homes for sale. The price points for new single family homes for sale range from $500,000 to the mid $700,000 and the townhomes start in the $400,000 range. For more information on new homes for sale in Brambleton and the Brambleton community click here.

Brambleton Schools

Loudoun County and the Ashburn community of Brambleton offers some of the finest schools in the area. For more information on local schools in the Brambleton area places visit Loudoun County Schools web site.

Price of a Home in Ashburn

Price of a Home in Ashburn 20147 for April

The price of a home in Ashburn for the zip code 20147 increased 1.04% from the month of March for a total year over year increase of 12.6% when compared to April 2012. We are continuing to see very low inventory levels in the area and with continued buyer demand this trend is expect to continue upward as we move forward through the spring selling season. There is currently just over one month’s supply of inventory on the market which by definition makes this a very strong sellers market.

Follow the link to see current average prices in Ashburn and More.

Lack of Inventory Driving the Price Up

Inventory levels continue to remain very low for the Ashburn area and Loudoun County over all. There wereAverage Price of a Home a total of 136 active listing on the market to begin the month of May which is down 25% from the same time last year. There were 130 new listing that came on the market in April which was and increase of 31% from last year. This is evidence of the strong buyer demand that the market is seeing. Agents in the area continue to report multiple offers and the average days on market have dropped 36.84% to an average of 24 days for all property types. Town Homes and entry level properties continue to be the most competitive segment of the market. There is currently less than one month’s supply of town homes for sale and the average price of a home in this segment is up over 10% from last year. If this continues the price of a home in Ashburn will continue to increase.

Average Sales Price Compared to List Price Continues to Improve

With the lack of available inventory and continued buyer demand we are also seeing the actual sales price of a home in Ashburn at closing when compared to the original list price improve as well. With homes staying on theAverage Price of a Home in Ashburn market for just 24 days and the competition from buyers for available homes, sellers are getting what they are asking for. This trend should also continue as long as the inventory levels remain low. With the average price of a home in Ashburn, 20147 being $452,516 compared to the average last April of $401,882, many sellers who were not able to sell last year without bringing money to the table at closing are finally able to make a move.

Loudoun County Homes for Sale

As the spring market continues to heat up and we approach summer the real estate market should continue to improve as far as the average price of a home in Ashburn and other communities is concerned. The lack of inventory will continue certainly force buyers to pay more and accept less form sellers. The laws of supply and demand should continue to force the price of a home in Ashburn, and other communities in Loudoun County, higher.

If you are considering selling a home in Ashburn and would like more information on home prices and much more market information, follow this link, The Average Price of a Home in Ashburn and Loudoun County.

 

 

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

Leesburg Horse Farm for Sale

Leesburg Horse Farm for Sale

Loudoun County Living LLC is offering a fantastic Leesburg horse farm for sale on Evergreen Mills Road. This horse farm is well thought out and arranged for any type of equestrian operation. A fantastic heated 5 stall barn with tack room, wash stall, field hydrants, nicely paddock fields, are just a few of the features to meet any equestrian need. The property is currently being offered with over 12 acres with the possibility of an additional adjoining 10 acres. Situated just minutes south of the Town of Leesburg you can enjoy fantastic pastoral views and all of the conveniences of the Leesburg area.

Leesburg Horse Farm for Sale, CLICK here to see other horse farms for sale in the Leesburg area.Leesburg Horse Farm for Sale

Where is this Leesburg Horse Farm Located?

This Leesburg horse farm is located on Evergreen Mills Road just minutes from the Town of Leesburg in Loudoun County. Follow this link to see a map.

The Loudoun County Horse Community. Leesburg Horse Farm

Loudoun County is home to more equestrian communities and horses that any other county in the state of Virginia. Loudoun is home to over 15,000 horses and is clearly the horse capital of the state. The horses of the Loudoun County are worth over $210,000,000 and contribute over 1000 jobs and close to $3,000,000 in tax revenue to Loudoun and the state of Virginia.Leesburg Horse Farm for Sale

Loudoun County is also home to more equestrian events than any other county in Virginia. The Equine Medical Center is located in Loudoun County as well as Morven Park and Oatlands Plantation which provide the largest venues for equine events.  Loudoun is certainly one of the most horse friendly communities in Virginia.

What is the Horse Farm Like?

The home offered with this Leesburg Horse Farm is a Leesburg Horse Farmbeautifully designed three level Cape Cod. A front gate and stocked pond marks the entrance to this picturesque Leesburg horse farm. This charming estate home nestled on over 12 acres with remarkable views and 4 board fencing has been tastefully designed with no detail overlooked. Features include stunning Cherry hardwood flooring, 3 fireplaces and spacious rooms for entertaining. Perfect fully equipped 5 stall center aisle barn with a roomy tack area and wash stall.

For more information of this Leesburg Horse Farm and other farms and estates in Loudoun County for sale, visit our web site at www.loudoncountylivingllc.com or call us at 703-831-7653.

Come Home to Kincaid Forest Leesburg VA

Kincaid Forest Leesburg VA 

Why Do People Live Here?

Kincaid Forest Leesburg VA is a picturesque neighborhood of single family homes and town homes conveniently located at the intersection of Battlefield Parkway and Kincaid Boulevard, less than a mile from Route 7. It’s not uncommon to see tennis players on the subdivision’s courts when the weather is nice and kids sledding down snow-covered hills in the winter.  The Dulles Greenway, which gives commuters access to all parts Northern Virginia and the Metropolitan Washington region, is less than 2 miles away. With grocery shopping, the Leesburg Corner Premium Outlets and a number of restaurants just a short drive away, Kincaid Forest offers many conveniences making it a sought-after Leesburg VA community.

Looking for a Home in Kincaid Forest?

http://kelly.loudouncountylivingllc.com/listings/areas/5494/subdivision/kincaid+forest/propertytype/SINGLE,CONDO/listingtype/Resale+New,Foreclosure+Bank+Owned,Short+Sale/

Interested in homes for sale in Kincaid Forest Leesburg? Click the link to find all the currently available homes in this area of Leesburg VA.

What’s the Neighborhood Like?

Single family homes in Kincaid Forest in Leesburg VA run approximately 4,000 square feet with the larger floor plans having six bedrooms.  Town homes generally run between approximately 1,200 square feet up to nearly 3,000 square feet with the largest floor plans having 4 bedrooms. The homes in Kincaid Forest were originally built starting in 2002 by Winchester Homes. More recently, M/I Homes built a new section of town homes in Kincaid Forest in 2010.  The neighborhood is surrounded by trees and offers a park with a picnic pavilion, miles of walking trails, and backs to the popular W&OD Trail.

What’s going on Nearby Kincaid Forest Leesburg VA?

Only 2 miles away from Kincaid Forest in Leesburg VA residents enjoy shopping, dining, and movie-going at The Village at Leesburg which includes among other places, Wegmans and Cobb Village 12 Cinemas.  A little over a mile away, Kincaid Forest residents will find an urgent care center, grocery shopping, fast food and casual dining options. Find out about everything that is nearby Kincaid Forest including places of worship, banking, shopping, attractions and recreation and much more on my website.

What schools will the Kids Attend? 

Kincaid Forest subdivision in Leesburg VA is served by Cool Spring Elementary, Harper Park Middle, and Heritage High School.   To get local school scores and more information about these schools check out the Leesburg school reports on my website.

Now you Really Want to Buy a Home Here, Right? 

If you are interested in the current homes for sale in the Kincaid Forest subdivision of Leesburg VA click on the link.  My For Sale property information is a direct feed from MRIS, the nation’s largest MLS system.

Tavistock Farms Homes

Tavistock Farms Homes

Why do people want to live here?

Tavistock Farms is a community of single family homes and town homes that is located just east of the historic town of Leesburg Virginia. The community is made up of over 500 homes and offer both single family homes and town homes. The community’s convenient location and well thought out design offers home owners a quiet, peaceful neighborhood and all of the conveniences of close by amenities. There are miles of sidewalks and walking trains as well as a private community pool and tennis club. Tavistock Farms consists of 305 single Tavistock Farms Homefamily homes and 213 town homes. The Historic Town of Leesburg is located just a couple of miles to the east and is considered one of the best preserved historic downtown communities in the country. Leesburg is listed on the National Historic Register and actually served as the seat of the US government during the war of 1812 when the British burned Washington DC. The Leesburg Outlet Mall, The Leesburg Village Center, and the Lansdowne Town Center are all within a couple of miles of Tavistock Farms and offers home owner’s restaurants, entertainment and much more. The community was developed by Arcadia builders in 1994 and is completely built out. Prior to its development Tavistock Farms was a working farm that was owned and operated form the early 1800’s to the mid 1950’s by the Myers family.

Looking for a home in Tavistock Farms?

Interested in homes for sale? Click that link to see all of the homes for sale in this area of Loudoun County.

Where is Tavistock Farms?

Tavistock Farms is located in central Loudoun County about 35 miles west of Washington DC just off of Sycolin Road. Tavistock Drive is the main through fare and connects the community to Battlefield Parkway and Sycolin Road. The community’s convenient location provided home owners easy access to commuter routes via Battlefield Parkway to the Dulles Connector Road and Route 7. The town of Leesburg is located just to the west of the community.

Where do kids go to school in Tavistock Farms?

School Information

School Information

Loudoun County has one of the best public school systems in the United States.  Cool Spring Elementary School is located at the intersection of Battlefield Parkway and Tavistock Drive. Middle Schools age children will attend Harper Park Middle School and High School Aged kids will attend Heritage High School. If you are considering a home in Tavistock Farms please check the Loudoun County Public Schools website for the most current information on school districts. For more information on local schools please follow this link. 

What are the homes like here?

Tavistock Farms is a community of single family homes and town homes of a traditional or colonial style. The single family homes range from 3-5 bedrooms and approximately 2281 to 4144 above grade finished square feet of living space and the town homes range from 3-4 bedrooms and 1584 to 2036 above grade finished living space. Over the previous 6 months the average sale price for single family homes was $510,178 and the average sales price for town homes was $322,756.

Are you ready to find a home in Tavistock Farms?

If you are considering moving to Tavistock Farms and would like to see the current listing of homes for sale, click on the links, Tavistock Farms Homes for Sale.

Living in Lansdowne, VA

Lansdowne Neighborhood Features

Lansdowne on the Potomac is a family-friendly community located nearby the four-diamond Lansdowne Resort in Leesburg, VA.  The neighborhood is convenient to Rt. 7, Rt. 15, the Dulles Toll Road and downtown Leesburg.  The area is a mix of both residential and retail with a variety of amenities for residents including a championship golf course.

Surrounded by vast, manicured open spaces and naturally wooded areas, Lansdowne on the Potomac also has water activities such as canoeing and kayaking on Goose Creek or the Potomac River.

First time homebuyers looking for a condo or townhouse can find prices start from the low $300,000s.

Living in Lansdowne

Lansdowne on the Potomac features condominiums, townhouses, single family homes and luxury retirement apartments (Leisure World).   The town center features all the necessary conveniences including a Harris Teeter grocery store, shops, and restaurants.

The focal point of the community is the extensive Potomac Club complex. Residents can enjoy:landsdown town center

  • 25 meter indoor pool, heated whirlpool and locker rooms;
  •  outdoor pool with spa;
  •  exercise and aerobics rooms;
  •  business center with computers;
  •  meeting rooms;
  •  ballroom facility;
  •  game room with pool table, television, air hockey table, foosball and video games.

Events in Leesburg, VA

One of the nice things about living in Loudoun County is that throughout the year, there are a variety of events for families and people of all ages.  Upcoming events in Lansdowne include Casino Night, Easter Egg Hunt, Beerfest and outdoor concerts.  For a complete list of events in the town of Leesburg, visit Livingloudouncounty.com.

It’s a great time to purchase a home.  If you are interested in learning more about homes for sale in Lansdowne on the Potomac, call Allison Metzger today at 703-963-0923.

 

Housing Market Rates and Reports

Snapshot of The Market

 

Mortgage Rates Hold Steady

Following last week’s large rally, it was a relatively quiet week for mortgage rates. In the economic reports released this week, inflation remained low and the economic growth data was mixed. Mortgage rates ended the week with little change.The economic report which received the most attention this week was Retail Sales, which represent roughly 70% of economic activity. March Retail Sales declined 0.4% from February, which was weaker than expected. Since the beginning of the year, investors have been concerned that consumers would scale back their spending due to the payroll tax increase, the sequester cuts, and higher gas prices. Combined with the weak March Employment report released last week, the question is how quickly the economy will grow for the rest of the year. Looking at the averages for the first three months of the year, Retail Sales growth and job gains were fairly strong even with the weakness in March.

The FOMC Minutes from the March 20 Fed meeting were released on Wednesday and contained a bit of a surprise. The minutes revealed that, due to improvement in the economic outlook, there was growing support for scaling back the Treasury and mortgage-backed securities (MBS) purchase program, beginning as soon as this summer. The impact of this news on mortgage rates was limited, however, since the Fed meeting took place before the weak March Employment and Retail Sales reports were released. The recent data reduced investor concerns about an earlier than expected end to the bond-buying program. The minutes were a reminder that the economic data in coming months will determine the timing of Fed policy changes, meaning that volatility around major economic reports likely will remain very high.

Job Gains Fall Short

A wide range of economic news was favorable for mortgage rates this week. The Employment data was weaker than expected, Japan expanded its bond-buying program, and tensions with North Korea increased. As a result, mortgage rates ended the week significantly lower.Friday’s Employment report was disappointing in nearly every area. Against a consensus forecast of 190K, the economy added just 88K jobs in March. Average Hourly Earnings, a proxy for wage growth, was flat from last month. Digging deeper, the small bit of good news was that the data from the prior two months was revised higher by 61K jobs. This was far outweighed, however, by the bad news in the details of the Unemployment Rate. The Unemployment Rate unexpectedly dropped from 7.7% to 7.6%, but the decline was entirely due to people exiting the labor force. It is good for the economy if the Unemployment Rate declines because more people get jobs, but not if the cause is a shrinking labor force. Weak labor market data reduces future inflation expectations, which is good for mortgage rates. In addition, it likely extends the duration of the Fed’s bond-buying program, which is also good for mortgage rates.

Thursday, the Bank of Japan announced that it will sharply ramp up its bond purchases to levels which will add $1.4 trillion to its balance sheet over the next two years. Like the Fed, the BOJ is buying bonds to help boost the economy. This added demand for Japanese bonds caused their yields to decline, making US bonds relatively more attractive to global investors. This benefited US mortgage-backed securities (MBS), which helped push mortgage rates lower.

Cyprus Reaches Bailout Deal

It was a relatively quiet week. Mixed US economic data had little impact. Events in Europe were the main influence on mortgage rates. Investors grew more concerned that uncertainty in Europe could slow the pace of global economic growth. As a result, mortgage rates ended the week a little lower.The bank problems in Cyprus raised broad questions about the relationship between the troubled countries and the stronger countries in the European Union (EU). Early in the week, Cyprus reached an agreement to receive an EU bailout package for its banks. The terms of the aid highlighted the growing reluctance of Germany and the other healthier countries to use taxpayer funds to provide aid to the weaker countries. Investors are concerned that this may slow the implementation of unpopular reform measures intended to boost economic growth in the troubled countries. Adding to the uncertainty, Italian leaders have made little progress in forming a coalition government, making it very difficult for the third largest country in the EU to do anything to improve its economic situation.

So why is political and economic uncertainty in Europe positive for US mortgage rates? Since US companies conduct business in Europe and export to Europe, slower growth there will be a drag on the US economy as well. This results in reduced expectations for future inflation, which is good for mortgage rates. In addition, the duration of the Fed’s MBS and Treasury purchase program depends on the strength of the US economy and the labor market. Weaker growth and lower inflation could justify Fed purchases for a longer period of time, providing an extra benefit for mortgage rates.

Cyprus Reaches Bailout Deal

It was a relatively quiet week. Mixed US economic data had little impact. Events in Europe were the main influence on mortgage rates. Investors grew more concerned that uncertainty in Europe could slow the pace of global economic growth. As a result, mortgage rates ended the week a little lower.The bank problems in Cyprus raised broad questions about the relationship between the troubled countries and the stronger countries in the European Union (EU). Early in the week, Cyprus reached an agreement to receive an EU bailout package for its banks. The terms of the aid highlighted the growing reluctance of Germany and the other healthier countries to use taxpayer funds to provide aid to the weaker countries. Investors are concerned that this may slow the implementation of unpopular reform measures intended to boost economic growth in the troubled countries. Adding to the uncertainty, Italian leaders have made little progress in forming a coalition government, making it very difficult for the third largest country in the EU to do anything to improve its economic situation.

So why is political and economic uncertainty in Europe positive for US mortgage rates? Since US companies conduct business in Europe and export to Europe, slower growth there will be a drag on the US economy as well. This results in reduced expectations for future inflation, which is good for mortgage rates. In addition, the duration of the Fed’s MBS and Treasury purchase program depends on the strength of the US economy and the labor market. Weaker growth and lower inflation could justify Fed purchases for a longer period of time, providing an extra benefit for mortgage rates.

Retail Sales Surge

The economic growth data released this week was mostly stronger than expected, which normally would push mortgage rates higher. After a large increase last week following strong Employment data, however, rates instead recovered some ground and ended the week a little lower.

This week’s economic data continued to demonstrate improvement in the economy. February Retail Sales jumped 1.1%, which was far above expectations. Retail Sales are closely watched because they account for roughly 70% of economic activity. There has been concern that higher payroll taxes and rising gas prices will slow consumer spending, but there have been few signs of this so far. February Industrial Production showed stronger than expected gains as well, and Capacity Utilization rose to the highest level since March 2008. Weekly Jobless Claims dropped sharply, and Continued Claims declined to the lowest level since the middle of 2008. This kind of strong economic growth should support continued improvement in the housing market.

The headline monthly inflation reports reflected large increases due to rising gas prices, but core levels remained well within the Fed’s comfort zone. The February Consumer Price Index (CPI) rose 0.7% from January. By contrast, Core CPI, which excludes food and energy, increased just 0.2%. Fed officials prefer to look at core readings of inflation, which exclude the most volatile components and present a better indication of long-term trends. According to the Fed statement, core inflation levels below 2.5% do not pressure the Fed to scale back its bond purchase program, which has helped keep mortgage rates low. This month, Core CPI was 2.0% higher than one year ago, while the Core Producer Price Index (PPI) was even lower at 1.7%.

Unemployment Rate Declines

Unexpected strength in the labor market was seen this week. The good economic news lifted the Dow stock index to a record level, but it also pushed mortgage rates higher.Mortgage rates climbed on the days leading up to Friday’s Employment report and rose even higher after the figures were released. Against a consensus forecast of 170K, the economy added 236K jobs in February. The Unemployment Rate declined from 7.9% to 7.7%, the lowest level since December 2008. Average Hourly Earnings, a proxy for wage growth, increased modestly from last month. In short, today’s data exceeded expectations nearly across the board.

The growth in the labor market is a major component of a broader improvement in the US economic outlook. Recent manufacturing, Durable Orders, and Retail Sales reports have also reflected a pickup in economic growth. This has resulted in an increase in Consumer Confidence and Consumer Sentiment, as well as higher stock prices. For the housing sector, the positive economic news increases the ability and the willingness of people to buy homes. The downside is that stronger economic growth generally causes mortgage rates to rise.

 

Trade Deficit Shrinks

Following last week’s packed schedule, there was far less major economic news this week. The global economic data that was released was generally a little stronger than expected. This was negative for mortgage rates, which ended the week a little higher.

The biggest surprise in this week’s economic news came from Friday’s data on imports and exports. The December Trade Deficit declined to the lowest level since January 2010. Exports were higher than expected, and imports were smaller than expected. Since the first reading for fourth quarter GDP used an estimate of the December trade data, the actual results will almost certainly lead to an upward revision. Last week’s release of fourth quarter GDP showed the first decline since December 2009, but economists now predict that it will be revised to show an increase of 0.5%. Stronger growth is great news for the economy, but it raises inflationary pressures and is unfavorable for mortgage rates.

The housing market data released this week also contained good news for the economy. According to the National Association of Home Builders (NAHB), the number of improving housing markets expanded for the sixth straight month in February. The index considers the levels of housing permits, employment and home prices to determine improvement. The latest report shows that 259 of 361 metro regions are improving (roughly 70%), up from just 12 regions in September 2011.

 

Retail Sales Increase

Improving economic growth in the US was negative for mortgage rates this week. This was mostly offset by weakness in Europe and Japan, however. As a result, mortgage rates ended the week just a little higher.The biggest US economic report released this week was Retail Sales. Since Retail Sales account for roughly 70% of economic activity, this report is closely watched by investors and the Fed. Consumer Spending increased at a 2.2% annual rate during the fourth quarter of 2012, but investors are concerned that it may slow during the first quarter due to a number of factors, including this year’s payroll tax increase and rising gas prices. Investors were pleased that the actual results showed that January Retail Sales posted a small increase from December. The full impact of the payroll tax increase may not be seen until February or March, though.The news from Europe and Japan released this week revealed less impressive economic results. Fourth quarter GDP in the euro zone fell short of expectations, declining at a 2.3% annualized rate, the third straight quarter of negative readings. Even Germany, which had remained relatively strong during most of Europe’s financial crisis, dropped at the same 2.3% annualized rate. GDP in Japan was expected to rise during the fourth quarter, but it also declined, for the third straight quarter. In general, slower global economic growth reduces future inflation expectations in the US, which is positive for mortgage rates.

Quiet Week

Following last week’s burst of major economic headlines, which were mostly negative for mortgage rates, there was very little market moving news this week. Mortgage rates reversed a portion of last week’s increases, ending the week a little lower.After last week’s fiscal cliff deal, Fed meeting, and Employment data, this week’s news had little impact on mortgage rates. Very little economic data came out this week, and the results for the Treasury auctions were close to average. A meeting of the European Central Bank (ECB) produced no surprises. In short, after weeks of high volatility, daily mortgage rate movements were relatively small this week.The much anticipated Qualified Mortgage regulation was released this week by the CFPB. This rule, when first proposed, caused concern in the housing industry for how its requirements might overly restrict mortgage availability. As released, though, it should have very little impact on mortgage availability, and much of what will be required under the regulation (when it becomes effective a year from now) is common practice today.

Trade Deficit

Shrinks following last week’s packed schedule, there was far less major economic news this week. The global economic data that was released was generally a little stronger than expected. This was negative for mortgage rates, which ended the week a little higher.The biggest surprise in this week’s economic news came from Friday’s data on imports and exports. The December Trade Deficit declined to the lowest level since January 2010. Exports were higher than expected, and imports were smaller than expected. Since the first reading for fourth quarter GDP used an estimate of the December trade data, the actual results will almost certainly lead to an upward revision. Last week’s release of fourth quarter GDP showed the first decline since December 2009, but economists now predict that it will be revised to show an increase of 0.5%. Stronger growth is great news for the economy, but it raises inflationary pressures and is unfavorable for mortgage rates.The housing market data released this week also contained good news for the economy. According to the National Association of Home Builders (NAHB), the number of improving housing markets expanded for the sixth straight month in February. The index considers the levels of housing permits, employment and home prices to determine improvement. The latest report shows that 259 of 361 metro regions are improving (roughly 70%), up from just 12 regions in September 2011.

 

Economic Data Exceeds Expectations

Positive economic data was the primary influence on mortgage rates this week. Unexpected strength in Retail Sales, Housing Starts, and Jobless Claims combined to push mortgage rates a little higher.Stronger economic growth is great for the labor market and the stock market. Unfortunately, it also increases the risk that future inflation will move higher, so it is generally not good for mortgage rates. Two factors helped contain the increase in mortgage rates this week, however. First, the inflation data released this week showed that inflation is not a problem right now. In addition, Fed purchases of mortgage-backed securities (MBS) provided sufficient demand to keep mortgage rates at low levels.The Housing data released during the week continued to be encouraging. December Housing Starts jumped 12%, well above the consensus forecast, to the highest level since June 2008. Building Permits increased 1%. The January NAHB Home Builder Confidence index remained at the highest level since 2006. The Fed’s Beige Book reported improving real estate conditions in all twelve regions.

 

Housing Ends Year on High Note

The fiscal cliff talks were the primary influence on mortgage rates again this week. A lack of progress on reaching a deal caused investors to shift to safer assets such as bonds. As a result, mortgage rates ended the week a little lower.The housing sector data released this week was again encouraging. November New Home Sales rose 4% from October to the highest level since April 2010 (when the homebuyer tax credit was about to expire). November Pending Home Sales, a leading indicator, also rose to the highest level since April 2010, and were 12% higher than one year ago. According to the NAR Chief Economist, “Home sales are recovering now based solely on fundamental demand and favorable affordability conditions.”Housing ends the year on a definite upswing. Existing Home Sales rose roughly 10% during 2012, and the National Association of Realtors (NAR) forecasts a similar increase for 2013. Total housing inventory of available existing homes is at the lowest level since 2005. The October Case-Shiller 20-city home price index showed an increase of 4.3% from one year ago. In addition, mortgage rates end the year near record low levels, around 50 basis points lower than this time last year.

Fiscal Cliff Talks Drive Mortgage Rates

The fiscal cliff talks were the primary influence on mortgage rates this week. As investor optimism for a deal rose and fell during the week, so did mortgage rates. For the week, mortgage rates ended just a little lower.If no fiscal cliff deal is reached, the spending cuts and tax increases which will occur beginning January 1 are perceived as negative for stocks and positive for bonds. As a result, when comments from political leaders at the beginning of the week hinted at progress, mortgage rates moved higher and stocks gained. The reverse took place later in the week and especially on Friday following the failure in the House to pass the “Plan B” fiscal cliff proposal. The fiscal cliff talks most likely will continue to have a major impact on mortgage rates until a deal is reached.The housing sector data released this week was encouraging. November Existing Home Sales rose 6% to the highest level since November 2009. Total housing inventory of available existing homes declined 4% to the lowest level since September 2005. November Housing Starts declined 3%, but Building Permits increased 4% to the highest level since July 2008. The December NAHB Home Builder Confidence index rose for the eighth consecutive month to the highest level since April 2006.

Mortgage Rates Rise after Fed Announcement

With little progress on the fiscal cliff talks and few surprises in this week’s economic data, the Fed meeting was this week’s big story. Policy changes announced in Wednesday’s Fed statement raised investor concerns about higher future inflation, and resulted in mortgage rates ending the week a little higher.The Fed announcement contained two major policy changes. The first, which was widely expected, is that the Fed will purchase $45 billion per month of long-term Treasury securities beginning at the start of 2013 to replace the Operation Twist program which expires at the end of this year. This will be in addition to the $40 billion of mortgage-backed securities (MBS) the Fed now purchases monthly. The second change from the Fed was not expected. For the first time, the Fed announced that it will keep the fed funds rate at very low levels until certain economic targets are reached. Specifically, the fed funds rate will remain low until unemployment falls below 6.5% and inflation tops 2.5%.Despite four years of extraordinary levels of Fed stimulus, the economic data released this week revealed that inflation is not a problem right now. This week’s data showed that Core CPI, the most widely followed measure of inflation, was only 1.9%. The concern for investors after the Fed statement is that the Fed appears to be willing to tolerate a higher level of inflation in its efforts to boost the economy, and inflation is negative for mortgage rates.

Job Gains Exceed ExpectationsOnce again, investors mostly remained on the sidelines waiting for progress on the fiscal cliff talks and the European debt troubles. Headlines in these areas, along with Friday’s Employment report, caused daily volatility, but mortgage rates ended the week with little change.Friday’s Employment data was stronger than expected. Against a consensus forecast of 90K, the economy added 146K jobs in November. Expected to increase to 8.0% from 7.9%, the Unemployment Rate decreased to 7.7%, the lowest level since December 2008. The decline was due to workers leaving the labor force, however, rather than job gains. Overall, investors feared weaker results, and the news was favorable for stocks and negative for bonds.The last few weeks in December are traditionally a period marked by larger than usual price movements, due to thin trading volume. Usually the flow of news also winds down toward the end of the year. This year, however, there remain several major events which likely will have a significant impact on mortgage rates over the next few weeks, including a Fed meeting, the fiscal cliff talks, and deadlines on the Greek bailout. While there is no way to know what net effect these events will have on mortgage rates, it is reasonable to expect a high level of volatility.

Markets React to Fiscal Cliff Talks

The main influence on mortgage rates this week was the perceived progress, or lack thereof, on the fiscal cliff talks. US economic data and news from Europe had little impact. Investors grew a little less hopeful during the week about a fiscal cliff deal, so mortgage rates ended the week lower.If no action is taken, a series of tax increases and government spending cuts will take effect at the first of the year, known as the fiscal cliff. During the week, political leaders from both parties made a series of statements about the changing status of negotiations to avoid the fiscal cliff. The result for financial markets was increased daily volatility in the stock and bond markets. Opinions vary widely on the level of progress, but investors ended the week with reduced optimism for a deal. As long as the talks drag on, the increased level of volatility is likely to continue.If Congress is not able to reach a deal to avoid the fiscal cliff, economic growth can be expected to slow significantly. However, slower economic growth generally reduces inflationary pressures and is positive for mortgage rates. Therefore, as optimism for a deal rises and falls, so do mortgage rates.

Where is Leesburg VA?

Where is Leesburg VA?

Are you thinking about moving and wondering, where is Leesburg VA?

Leesburg VA is located in Loudoun County and is also the county seat. Loudoun County is in Northern Virginia adjacent to Fairfax County to the east, the state of Maryland and West Virginia to the North, Clark County to the West, Prince William and Fauquier County to the South.  The Potomac River borders the county to the north east between Maryland and Virginia. Leesburg VA is a historic town that was founded by the Virginia General Assembly on October 12, 1758 and is located 33 miles west of Washington DC  just east of the Catoctin Mountains in central Loudoun County.

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So what is Leesburg VA like?

Leesburg is an historic town that is rich in American history that dates back to the settlement of the area inLeesburg VA the 1730’s. The historic downtown was designed in the mid 1750’s and some of the original buildings are still in use today. Downtown Leesburg has an old time feel with streets lined with a mix of old stone and brick buildings, many of which pre date the civil war. The area around Leesburg has seen significant grown along with Loudoun County over the past several decades and has much to offer home owners and visitors to the area. Loudoun County and Leesburg was recently named as the number 1 place to live in the United States for jobs. Living in and around Leesburg VA offers residents a mix of rural farms and estates to the west and the convenience of urban life in and around the developed communities to the east. The rural area to the west of Leesburg is home to the Virginia Wine Country. Western Loudoun County is home to many wineries and farms that offer local wine and produce. The area to the east of Leesburg is much more developed and offers shopping, entertainment and employment centers.

Where is Leesburg VA and what is happening in Loudoun County?

Loudoun County is one of the fastest growing a regions in the United States. The County has seen an 84% increase in population from 2000 to 2010. Loudoun Counties close proximity to our nation’s capitol has attracted many companies to relocate to the area which has provided steady job growth and prosperity for residents.  Loudoun has the highest median income ($107,207) of all counties in the United States and its neighbor to the east, Fairfax County is second. The Dulles Technology corridor in eastern Loudoun County has provided much of this growth. Dulles International Airport, The World Trade Center Dulles Airport, and The Howard Hughes Medical Institute are just as few of the major draws for companies to move to Loudoun County.

Housing in and around Leesburg VA

Leesburg Va. and Loudoun County has just about every kind of housing available there is, from very large Leesburg VA Wineryfarms and estates to the west to and more urban town center style developments to the east. The Leesburg area is home to some of the most exclusive communities in Loudoun County like, River Creek, Belmont Country Club, Raspberry Falls, Beacon Hill, Shenstone and Creighton Farms. The area also has more affordable town homes, single family homes, apartments and condominiums available.

So if you are still wondering, where is Leesburg VA? And you would like more information give us a call a 703-831-7653 or visit our web site at www.loudouncountylivingllc.com.