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A Buying Opportunity?

November 6, 2013 Columns Comments Off on A Buying Opportunity?
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By Carl Fischer
As a direct result of the uncertainty that has arisen from national and regional politics, with its unsettling effect on the Northern Virginia area, for the past two months there has been a market slowdown which has created a decrease in the level of new buyer interest in the residential markets. It has also increased the number of homes on the market, and the average “days on market” for already listed properties.

As a result, the cycle of rapidly escalating costs, and the meteoric rise in interest rates has created a lull in the market that affords potential buyers a unique opportunity.

Even though sellers tend to be slow to recognize this impact, most buyer’s agents will quickly point out that new offers have declined and the specter of multiple offers has diminished, if not vanished, from the market. Price levels for houses sold recently have also declined. … Continue Reading

Too Much Too Soon

September 4, 2013 Columns Comments Off on Too Much Too Soon
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By Carl Fischer

We have all been encouraged by the return of market activity in housing here in Northern Virginia. But it is beginning to seem that too much has happened in the past 18 months in too many areas of the process in too short a period of time for anyone to feel comfortable about it.

First, buyers returned

After years of limited activity, buyers slowly began to re-appear. For many, the first steps were very tentative, with few folks qualifying for new loans, and most having little real comfort in heading back to new ownership, or upgrading what they already had. Initially greeted with bloated inventories, the “picking” was good, so early buyers were able to get great value when they finally signed a purchase agreement. … Continue Reading

New Insights

June 4, 2013 Columns Comments Off on New Insights
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By Carl Fischer

I was recently invited to attend the National Association of Realtors mid-year conference held at the Washington Hilton on Connecticut Avenue as a panelist. It was an invitation-only “Masters of the Market” group consisting of some of the most forward thinking and highly productive real estate brokers in North America. Most were former Howard Brinton “StarPower” honorees, as I was, and for me, it was like “old home” week.

I’m telling you all of that to tell you this: The real estate market, as we all know, has changed dramatically over the past five years. We all knew it would, but it has been a challenge for even full-time top-producing professionals to keep up.

In the two-and-a-half hours we shared, the social exchanges lasted for just a few minutes and rolled into unending flood of new and useful information. One which stood out in my mind as particularly important I describe below. … Continue Reading

Real Estate Ticker – April

April 2, 2013 Columns Comments Off on Real Estate Ticker – April
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I’m writing this article from the new Omni Hotel in downtown Fort Worth, Texas…
while attending United Country’s Annual Convention being held this year in Forth Worth Texas. It’s an interesting contrast with the familiar universe of Northern Virginia market activity. While back home we are dealing with the still-too-early-to-predict consequences of the sequester, the Fort Worth area is experiencing an explosion in growth, price recovery, and new construction, of both single-family and multifamily houses. The median price here has increased from $155,000 a year ago, to $168,900 today. Their listing inventory declined from 3131 a year ago to 2223 today. Now THAT is a recovery!

Locally, residential resale prices are holding on, but not accelerating as I anticipated…
Month-over-month rate of sales fell off this past month in both sales volume as well as number of sales, but were still higher than the same month last year. According to the MRIS, the active number of listings is down from 1,287 to 1,040 compared to the same month last year. The number of new contracts was off 10.6 percent for the same period in 2012. … Continue Reading

Tiptoeing Towards the “Spring Market”

March 9, 2013 Columns Comments Off on Tiptoeing Towards the “Spring Market”
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If you are having difficulty understanding what our real estate market will actually look like as we move into warmer weather, don’t feel alone; so do I. It’s true that there continues to be a sense of “cautious optimism” when it comes to our economy in general, but speaking with folks dropping by my office or calling, there is still a very pronounced air of caution in everyone’s comments.

Residential resale prices are showing some improvement…

However, the month-over-month rate of sales fell off dramatically this past month, though they were still higher than the same month last year. According to the MRIS, the active number of listings is down from 1,282 to 1,005, compared to the same month last year. The number of new contracts was up 4.96 percent for the same period. … Continue Reading

The Great Recession Is Over, Isn’t It?

February 6, 2013 Columns Comments Off on The Great Recession Is Over, Isn’t It?
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By Carl Fischer

For the past six months, the media has been filled with “promising signs” suggesting that our long housing nightmare is over … and based on personal observation, in our area of Northern Virginia, that certainly seems to be the case.

To be sure, affordable single family homes and townhouses are becoming very hard to find.

So when a new listing hits the market, you need to be fully prepared to act on it promptly, if the property meets your needs. This shortage of inventory has had the to-be-expected impact on prices … they are definitely going UP!

So what’s there to worry about? … Continue Reading

Holiday Season Softening in the Residential Market….

January 9, 2013 Columns Comments Off on Holiday Season Softening in the Residential Market….
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As is often customary this time of year, most market metrics fell in the month of October. Total sales volume was down 8.5 percent compared to last month, but still, year over year we were up a whopping 38 percent. Days on Market (DOM) continues to decline, which is a great litmus test for pent-up demand.

The ratio of SOLD prices to list, or “asking” prices continues to improve. Inventory of homes available for sale is still shrinking, down nearly 16 percent compared to this month last year.

Here’s a look at Loudoun numbers for September from MRIS

FHA on the move

One area of interest that jumped at me this month was a series of articles I ran across focused on imminent changes in process that will have a real impact on buyers of affordable homes in this area. … Continue Reading

Holiday Season Softening in the Residential Market

December 5, 2012 Columns Comments Off on Holiday Season Softening in the Residential Market
Carl Fischer headshot

As is often customary this time of year, most market metrics fell in the month of October. Total sales volume was down 8.5 percent compared to last month, but still, year over year we were up a whopping 38 percent. Days on Market (DOM) continues to decline, which is a great litmus test for pent-up demand.

The ratio of SOLD prices to list, or “asking” prices continues to improve. Inventory of homes available for sale is still shrinking, down nearly 16 percent compared to this month last year.

A look at Loudoun numbers for September from MRIS:

… Continue Reading

Residential Market Continues to Move Up

November 7, 2012 Uncategorized Comments Off on Residential Market Continues to Move Up
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By Carl Fischer

Though lead traffic seemed to fall off a bit in August and September (a typical “summer doldrums” phenomena), there was sufficient sales activity to keep the buying spree moving forward. Month-over-month activity dropped 11.7 percent, but year-over-year, we are still up 22.6 percent.

One key indicator is the continued rise in average sold price as well as the ongoing drop in days-on-market. Inventory of homes available for sale is still shrinking.
A look at Loudoun numbers for September from MRIS appears above …

Buyer’s advantage is beginning to wane …

As prices begin to creep up, and they are, the unique advantage buyers have enjoyed for some time is slowing beginning to slide away. Homes that sold in April and May of this year for $350,000, are now going to contract at $365,000-$370,000. Same house; different market! … Continue Reading

Housing: The “Up” Side of this “Down” Market

September 5, 2012 Columns Comments Off on Housing: The “Up” Side of this “Down” Market
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By Carl Fischer

In the past two months, the housing market has seen a traditional reduction in residential sales activity through the heat of the summer. In the summer months, many families have more pressing demands on their time, be it for vacations, travel, or simply family get-togethers both near and far.
During this period, the national press continues to document the case for a very slow, erratic recovery in both house prices and consumer confidence. And these facts are hard to ignore. But there’s one aspect to what has happened in the past five years that seems to escape the focus of the press: How about the incredible opportunities this down market has presented to those who can take advantage of the ‘now’?

For those owners who are buried, or up-side down in their present ownership situation, and who agonize daily about their loss of equity as house prices have continued to erode, it feels like there’s very little to be done but just wait this recovery out. … Continue Reading

Agency law in Virginia has changed… Part II

July 31, 2012 Lifestyle, Real Estate Comments Off on Agency law in Virginia has changed… Part II
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By Carl Fischer

July 1, 2012 has now passed, and the new regulations put in place by the Virginia Real Estate Board (VREB) and through it’s licensing and oversight arm, the Department of Professional and Occupational Regulation (DPOR) are now the law of the land.

So from this date forward, when you engage for the first time ANY licensed real estate agent or broker here in the Commonwealth of Virginia, be prepared to declare how you would like him to provide services for you. You have three choices:

  1. As a STANDARD AGENT, who has the normal and usual responsibilities to represent you as in the past. But he may also have additional duties which you and he must agree to, in writing, or
  2. As a LIMITED SERVICE AGENT, (formerly a limited service representative), who acts for or represents a client with respect to real property containing from one to four residential units, pursuant to a brokerage agreement that specifies that he will NOT PROVIDE one or more of the duties set forth in a specific list itemizing such services, or
  3. As an INDEPENDENT CONTRACTOR, whose role in NOT that of an agent, but may be referred to as a “transaction broker”, among other terms. In this capacity, the service you barter for (and agree to) is best characterized as a third-party facilitator whose job it is to seek agreement between the parties so as to achieve the goal of the client (you). The standards and duties of the agent in this capacity is far more limited on your behalf than either of the other two.

… Continue Reading


 

 

 

 

 

 

 

Columns

The Company We Keep

noerpel_new

“Truly important and significant hypotheses will be found to have assumptions that are wildly inaccurate descriptive representations of reality and, in general, the more significant the theory, the more unrealistic the assumptions.” – Milton Freidman [1] “I am increasingly convinced …

What Happens To My Stuff When I Die?

Smith0035

Amy and Dan Smith Only in the rarest of circumstances will the state receive the property of a decedent. Joint tenancy. If you hold property jointly with another person “with survivorship,” it is presumed that the survivor is entitled to …

Integrated Scientific Discovery

Lunde new

By Mary Rose Lunde Many suggest that science is the gateway to the future. The rise in scientific discovery has driven more and more funding for research. The fact of the matter is, however, that science is far more complex …

A Man on the Move: Supervisor Ralph Buona, Vice Chairman Board of Supervisors

Supervisor Ralph Buona

By Samuel Moore-Sobel I first met Ralph Buona when I was a senior in high school. A “Youth in Government” day event allowed us to meet with our local supervisors. Chosen to sit next to the supervisor for my district, …

Dulles Air and Space Museum

airplane Dulles

You ever have those dreams, that (back – probably when you were a kid) you could fly? Not in any kind of man-made craft, mind you – I mean possessing the ability to levitate and travel the skies at will. …

New Book Helps Balance Children’s Screen-Time and Play Time

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By Amanda Clark Michael Oberschneider, a clinical psychologist and founder/director of Ashburn Psychological Psychiatric Services, has just released a book titled Ollie Outside. This book addresses the very timely and important topic of screen- and media-time management for children. Ollie …

Defending the Over-Pampered

noerpel_new

“The purpose of studying economics is to learn how not to be deceived by economists.” Joan Robinson, Professor of economics at Cambridge University, Basel Lecture, 1969. “[W]hereas classisists [economists] turned the spotlight on change, flow, process and dynamics, the neoclassicists …

Student News

Congratulations, Class of 2016

6 Jul 2016

grads_woodgrove

Woodgrove High School’s Class Of 2016 Graduation – By Amanda Clark On June 16, Woodgrove’s Class of 2016 was the 5th graduating class to walk the stage and accept their diploma. The ceremony was filled with anticipation as the chorus, …

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Buckland Earns Degree In Medicine

6 Jul 2016

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Molly Buckland, D.O., graduated from the West Virginia School of Osteopathic Medicine with a degree of Doctor of Osteopathic Medicine on May 28. While at WVSOM, Dr. Buckland received the Dr. Roland P. Sharp President’s Award and the James R. …

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Adams Promoted To Lieutenant

6 Jul 2016

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Lt. James Adams, from Sterling and a Potomac Falls Halls Graduate, earned the promotion to the rank of Lieutenant. Adams is a Navy Week and Executive Outreach Planner for the Navy Office of Community Outreach in Millington, Tennessee. U.S. Navy …

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Calendar

September 2016
Monday Tuesday Wednesday Thursday Friday Saturday Sunday
August 29, 2016

Hot & Cool featuring glass artists Dave & Dale Barnes and abstract painter Kay Layne

August 30, 2016

Hot & Cool featuring glass artists Dave & Dale Barnes and abstract painter Kay Layne

August 31, 2016

Hot & Cool featuring glass artists Dave & Dale Barnes and abstract painter Kay Layne

September 1, 2016

Dreams of Trees and Other Living Things

September 2, 2016

Dreams of Trees and Other Living Things

September 3, 2016

Dreams of Trees and Other Living Things

Dear Creek Live at North Gate Vineyard

Notaviva Vineyards - Bluegrass Jam - FREE event

Snaggy Mountain Boys

September 4, 2016

Dreams of Trees and Other Living Things

September 5, 2016

Dreams of Trees and Other Living Things

September 6, 2016

Dreams of Trees and Other Living Things

September 7, 2016

Dreams of Trees and Other Living Things

September 8, 2016

Dreams of Trees and Other Living Things

September 9, 2016

Dreams of Trees and Other Living Things

September 10, 2016

Dreams of Trees and Other Living Things

A PLACE TO BE: A THOUSAND STEPS

September 11, 2016

Dreams of Trees and Other Living Things

Silk Scarf Painting with Penny

ART IN THE PARK

September 12, 2016

Dreams of Trees and Other Living Things

September 13, 2016

Dreams of Trees and Other Living Things

September 14, 2016

Dreams of Trees and Other Living Things

September 15, 2016

Dreams of Trees and Other Living Things

September 16, 2016

Dreams of Trees and Other Living Things

September 17, 2016

Dreams of Trees and Other Living Things

September 18, 2016

Dreams of Trees and Other Living Things

Artist Reception - Penny Hauffe

September 19, 2016

Dreams of Trees and Other Living Things

September 20, 2016

Dreams of Trees and Other Living Things

September 21, 2016

Dreams of Trees and Other Living Things

BLUE SKY PUPPETS: BARKER OF SEVILLE

September 22, 2016

Dreams of Trees and Other Living Things

September 23, 2016

Dreams of Trees and Other Living Things

September 24, 2016

Dreams of Trees and Other Living Things

UNIVERSAL DESIGN FOR LEARNING WORKSHOP

FOBR Annual Meeting

5th Annual Leesburg Fine Art Festival

September 25, 2016

Dreams of Trees and Other Living Things

5th Annual Leesburg Fine Art Festival

Music With A Cause - Pas de Deux

Gallery Coffeehouse: The Comedy Cult Improv

September 26, 2016

Dreams of Trees and Other Living Things

September 27, 2016

Dreams of Trees and Other Living Things

September 28, 2016

Dreams of Trees and Other Living Things

September 29, 2016

Dreams of Trees and Other Living Things

September 30, 2016

Dreams of Trees and Other Living Things

October 1, 2016

Notaviva Vineyards - Bluegrass Jam - FREE event

October 2, 2016
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Lifestyle

Skate ‘Til Midnight at the Catoctin SkatePark Closing Party

23 Sep 2016

Leesburg01

Catoctin SkatePark will host a late night skate on Sunday, September 25, 2016, from 7:00 p.m. to midnight, before closing for construction. Enjoy one last ride at the original Catoction SkatePark! Construction of the new concrete skate park will begin in early October, but before the old skate park closes, you can celebrate the end of an era. On Sunday, …

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Middleburg Film Festival Announces “La La Land” As Its 2016 Centerpiece Film

20 Sep 2016

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The Middleburg Film Festival announced the highly anticipated film La La Land as its 2016 Centerpiece selection. La La Land, starring Ryan Gosling and Emma Stone, will screen on Saturday, October 22 with Oscar-nominated director Damien Chazelle (Whiplash) in attendance. The Festival runs October 20 through October 23.

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Sterling Apple Festival To Be Held September 24 and 25

16 Sep 2016

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The Loudoun Heritage Farm Museum will be hosting the 12th annual Autumn Apple Festival on Saturday, September 24, from 9:30 a.m. to 4:30 p.m. and on Sunday, September 25, from 11:30 a.m. to 4:30 p.m. The event will be held off Route 28 and Route 7 in Claude Moore Park in Sterling.

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Editorial

Grief and Greed

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By Matthew Parse What would drive a single individual to cause so much emotional stress and financial burden on hundreds, if not, thousands of families? What would drive the Town …

Op-ed

Opinion: Terrorism, Debt, and China: Oh My!

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– By Nick Reid world can be a very dangerous place sometimes, especially for a nation state such as the United States. Although danger is always present, the number and …

Metro Money Mess Pushing West

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– By Delegate Dave LaRock (R-33rd) A local paper recently quoted Loudoun Board Chair Phyllis Randall as saying that in her observation “some of the concerns raised by the people …

Dear Editor

Comstock Understands National Security

Candidate Geary with wife

On 9-11, I attended three ceremonies throughout Loudoun County honoring and remembering those 2,977 souls that we lost on that day of infamy. Our Congresswoman, Barbara Comstock was also there …

Lessons from Short Hill

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It’s been a little over two weeks since the Commission Permit for the proposed AT&T facility on Short Hill was overruled by the Board of Supervisors. This is just about …

View From the Ridge

An Open Letter to the Citizens of Purcellville

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Mark Your Calendar, They’ve Asked for Our Input So Let’s Give It To Them By Steady and Nobull The Purcellville Planning Commission has tentatively scheduled a series of public input …

Around Virginia

History’s Holy Places: Four Local Sites Worth Exploring This Fall

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The Journey through Hallowed Ground is a 180-mile long, 75-mile wide trek from Gettysburg to Monticello, encompassing nine presidential homes and places, 18 national and state parks, and thousands of small and large historical sites. Dozens and dozens of these sites and related museums are short ride from just about …

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Land Trust Receives Large Donation

land trust

On August 22, The Land Trust of Virginia received a $10,000 gift from the Sharon D. Virts Foundation, based in Herndon. The presentation of this grant was part of the Foundation’s official launch event, held at Selma Plantation in Leesburg. Notable speakers included Sharon D. Virts, FCiFederal Founder and Chair, …

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Farmers Urged To Be On The Lookout For Marijuana

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Farmers in Southwest Virginia are being urged to check their property for marijuana planted by trespassers. Within the past year, hundreds of marijuana plants have been discovered between rows of hay bales on farms in and around Pulaski County, according to the Claytor Lake Regional Drug Task Force. “Unfortunately this …

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Sports

Hunter’s First Professional Race

7 Sep 2016

hunterrace

Drew Hunter and Loudoun Valley classmates at his first professional race, Sir Walter Miler in Raleigh, NC in early August , l to r:  Marcos Pierce, Matt Slook, Drew Hunter, Max McNerney. Hunter finished with a time of 3:57.15. Hunter turned professional and signed with Adidas.

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Let’s Make Some Memories

3 Aug 2016

baseball

American Legion Baseball At Fireman’s Field, August 3 – 7 By Andrea Gaines American Legion Baseball is here at Fireman’s Field in a big way, featuring five consecutive blockbuster Mid-Atlantic Tournament games – August 3, 4, 5, 6 and 7. Our local Leesburg Post 34 Rangers had some nice wins …

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